EQ Homeguard is a home insurance policy that covers private properties, Housing and Development Board (HDB) apartments, and condominiums, in case of accidents or damages. You have three standard plans to choose from, and also an option to customise a few coverages if you think the basic policy is not sufficient.
|Coverage||Silver Plan||Gold Plan||Platinum Plan|
|Premium (inclusive of GST)||S$112.35||S$214.00||S$315.65|
|Theft or accidental death of your dog||S$500||S$500||S$500|
|Worldwide family & personal liability||S$500,000||S$750,000||S$1 million|
|Family worldwide accident protection||Up to S$50,000 in aggregate (S$10,000 per person)|
|Emergency home assistance||Yes||Yes||Yes|
Some of you might have your properties under mortgages or may have insured them through the Management Corporations or the HDB Fire Insurance Scheme. In such cases, you don’t have to take an additional insurance policy for your building. Hence, the following coverages are optional.
|Building||S$3.745 for every S$10,000 sum insured|
|Improvements/Renovation||S$3.745 for every S$10,000 sum insured|
|Contents||S$26.75 for every S$10,000 sum insured|
|Valuables and Jewellery*
[Coverage anywhere in Singapore]
[Total value should not be more than 50% of sum insured on contents]
|S$107 for every S$10,000 sum insured|
*For articles whose value is more than S$1,000, you need to provide a list of items and the amount to be insured.
If you are going for the flexible plan, the minimum premium payable would be S$53.50. If you choose 2 of the 4 coverages from the above table, you will receive complimentary Family Worldwide Accidental Protection, S$50,000 insured for Worldwide Personal and Family Liability, and Emergency Home Assistance.
Q. How much do I insure my property for?
A. The insurance amount should not be less than the full cost of replacement of your damaged or destroyed property.
Q. What insurance coverage can I take as a tenant?
A. You can buy an insurance policy to cover your contents and valuables.
Q. Will I get a refund if I cancel my policy?
A. You will be charged a portion of the premium for the period covered if there have not been any claims. You will not get any refund if you have made claims.
Q. If I buy some new items, how can I insure them?
A. You can contact the authorities concerned, and they will help you get coverage for an additional premium amount.
Q. If I lock and park my bicycle outside the house, will it be covered under the insurance policy?
A. No, it will not be covered even though it is locked.