MSIG Home Insurance

MSIG Insurance was established in the year 2001 and it stands for Mitsui Sumitomo Insurance Group. MSIG is the result of a merger between two fire insurance companies – Sumitomo Marine & Fire Insurance Company and Mitsui Marine & Fire Insurance Company. In the year 2011, MSIG was awarded by Asia Insurance Review as ‘General Insurance Company of the Year’. MSIG provides several insurance products with a diverse range of plans that insures you against every kind of threat.

Key Features and Benefits of MSIG Home Insurance

Home insurance policies provided by MSIG offer protection for your home renovations, contents, and loved ones. They help you in insuring the house structure and its contents against any sort of damage or threat. The salient features of MSIG Home Insurance Policies are:

  • The policies cover all important aspects of your home – from the building to the contents.
  • The policies are very easy to buy. You can buy them online at your comfort.
  • 24-hours assistance is provided by MSIG in terms of services of electrician, plumber, locksmith, and for home emergencies, etc.
  • You can submit your claim request online and save your time. The claim process is simple and flexible.

Insurance Plans Offered by MSIG

There are two different plans offered by MSIG that come under home insurance. They are:

  • MSIG Enhanced HomePlus:
    • This plan insures your home renovations and contents against loss or damage.
    • You can get up to S$270,000 coverage for home renovations and contents.
    • MSIG Enhanced HomePlus will ensure that the temporary accommodation expenses or loss of rental amount are also covered.
    • In the event of your pet dying due to an accident at your home, MSIG Enhanced HomePlus will provide you compensation for the loss.
    • You can also enjoy an additional array of benefits that cover fraud done by domestic help, breakage of glass/mirror, spoilage of food kept in the refrigerator, etc.
  • MSIG Home Insurance:
    • This plan covers home contents, renovations, personal liability, and injury or damage to your property.
    • You will be protected with free personal liability coverage of up to S$1 million across the world.
    • MSIG Home Insurance is flexible in terms of coverage. You can choose what tou wnt to protect and customise your plan.

Let’s understand both the plans, its coverage, and premiums in detail. The table given below provides the details for MSIG Enhanced HomePlus:

Features Standard Plan (Insurance amount up to) Superior Plan (Insurance amount up to) Ultimate Plan (Insurance amount up to)
Home renovations and contents that include personal belongings, valuable contents, additional improvements which are not a part of your home, physical damage caused by lightning, fire, flood, riot, earthquake, windstorm, civil commotion, etc. S$125,000 S$195,000 S$270,000
Personal liability and owner’s liability that includes your legal liability and your family’s as well (inclusive of tenant liability up to S$500,000) and liability arising from your ownership. Personal liability is covered worldwide. aggregate of S$1 million
Hospital cash and accident protection worldwide. Accident protection covers your spouse, you and your children in case of accidental death. In case of injury caused to your spouse, you, and your children, hospitalisation cash will be made available to you up to 90 days. aggregate of S$50,000 aggregate of S$75,000 aggregate of S$75,000
S$50 per person per day S$75 per person per day S$75 per person per day
Assisting you in case of any emergency at home in Singapore such as medical advice over the telephone, services of an electrician, plumber, locksmith, etc. Included
Temporary accommodation expenses or loss of rental amount Up to 10% coverage amount under renovations and home contents sections
Cost involved in removing debris Up to 5% coverage amount under renovations and home contents section
Cost involved in replacing locks and keys S$500 S$750 S$750
If your domestic pet dies due to an accident at home S$500 S$750 S$750
Money loss at home because of burglary S$500 S$750 S$750
Usage of credit or ATM cards fraudulently taken from your home S$500 S$750 S$750
Breakage of glass/mirror S$1,000 S$1,500 S$1,500
Expenses incurred in fire extinguishment S$2,000 S$3,000 S$3,000
Fraud done by domestic help Not included S$500 S$500

The table given below provides the details for MSIG Home Insurance:

Coverage Sum insured up to a maximum of
Home contents including furniture, personal belongings, etc. As requested by you
Contents that are removed temporarily up to 30 days within Singapore. Up to 15% of coverage amount under renovations and home contents section
Cost involved in replacing locks and keys S$250
If there is fire/theft at home (you and your spouse’s death only) S$15,000 or 50% of insurance amount on home
Temporary accommodation expenses or loss of rental amount Up to 10% coverage amount under renovations and home contents sections
Cost involved in removing debris S$10,000
Domestic servant’s valuable belongings in your home S$500
If your domestic pet dies due to an accident at home S$500
Spoilage of food kept in the refrigerator S$500
Loss/stolen of credit cards/money (worldwide coverage) S$1,000
Fixtures to your building. As requested by you
Cost involved in removing debris and complying with rules of your building The sum insured on buildings
Expenses incurred in putting out fire S$2,500 or actual expenses (whichever is less)
Your legal personal liability (includes your family). This is a worldwide coverage. S$1 million
Tenant’s liability S$500,000
Unspecified valuables used for business and professional purposes As requested by you subject to S$2,500 on any one item
Specified valuables used for business and professional purposes As requested by you
Domestic servant’s liability under the Work Injury Compensation Act for your domestic helpers Assessed by court under the Work Injury Compensation Act

For MSIG Home Insurance, cover for home contents and buildings must be purchased first, and the cover for special possessions and domestic servants is optional.

MSIG Home Insurance Premiums

The minimum premium for MSIG Home Insurance is S$85.60 per policy. The premium for MSIG Enhanced HomePlus are given in the below table:

Description Standard Plan p.a. Superior Plan p.a. Ultimate Plan p.a.
Premium S$118.77 S$176.55 S$233.26
Optional cover for buildings S$4.28 for each S$10,000 insurance amount (minimum S$50,000)
Additional cover for building contents, applicable only to Ultimate Plan S$16.05 for each S$10,000 insurance amount (minimum S$10,000)
Additional cover for building renovations, applicable only to Ultimate Plan S$4.28 for each S$10,000 insurance amount (minimum S$10,000)

MSIG Home Insurance Policy Exclusions

The policy exclusions for MSIG Enhanced HomePlus are explained below:

  • Not more than 30% of the insurance amount for valuables in home contents section will be paid. Or, not more than 5% of the insurance amount for any one item in the home contents section will be paid. The items may be a computer, furniture, video/audio equipment, etc. Or, a maximum of S$6,000 will be paid (whichever is less).
  • The damage or loss incurred due to war, political issues or risks, terrorism, radioactive contamination, and malicious activities carried by you or your family members will be excluded from the policy.
  • The damage of your residential building due to fire, wind, lightning, etc. is not covered. This policy covers every part of the building such as walls, swimming pools, fences, gates, terraces, patios, etc., but, the foundation and the drains are excluded.

The policy exclusions for MSIG Home Insurance are explained below:

  • This policy does not include damage to contact lenses, pagers, headphones, and computers under the home contents section.
  • This policy also excludes loss of money or credit cards under the special possessions section.

MSIG Home Insurance Claim Process

The step by step procedure for making a claim on an MSIG home insurance policy are illustrated below:

  • Notify the insurance company: In the event of any unfortunate incident at your home, notify your insurance agent or call MSIG on +65 6827 7660 immediately. You must also make a police complaint in case the damage is related to theft.
  • Collect information and manage:
    • You must take all the necessary steps to mitigate the loss.
    • Take photographs of the damaged items.
    • Coordinate with the inspection team, who may be sent to your place.
    • In case of injury to the third party, do not settle the matter without informing MSIG. Make a note of the injury and claim extents. If you receive any sort of writ of summons form the third party, inform MSIG Insurance immediately.
  • Submit information: In order to claim for your loss, you can submit your application online by visiting the official MSIG website. You can download the claim copy for your future reference or you can even request MSIG for a copy. Once you complete the online application, you must submit the form with the necessary supporting documents.

MSIG Home Insurance Contact Details

You can contact MSIG for your enquiries about the policy or about the claim. The contact details are:

  • Emergency hotline number (MSIG Home Insurance): +65 6337 6776
  • Helpline number for all claims: +65 6827 7660
  • Fax number for all claims: +65 6225 6371.
  • MSIG customer service centre: #21-01 SGX Centre 2, 4 Shenton Way, Singapore 068807. Its operating hours are from Monday to Friday, between 8:45 a.m. to 5:30 p.m.
  • Customer service hotline: +65 6827 7602
  • Fax number: +65 6827 2708

You can also go for an SMS enquiry by sending a message to 9158 1660, including your name, policy/claim number, a brief description of your claim, and email address. MSIG will get in touch with you within 2 working days.

MSIG Home Insurance FAQs

Q. Where can I check the detailed policy inclusions and exclusions?

A. You can go through the policy document to have a better understanding of policy inclusions and exclusions. The policy document will be issued to you once you get a policy.

Q. What do you mean by valuables?

A. Valuables include gold/silver items, jewellery, art works, furs, watches, coin collections, antiques, precious stones and metals, etc.

Q. How do I calculate the sum to be insured?

A. It’s the total of the full value of your home contents, renovations, and valuables, of you, your family, and your servant. You must take the current day’s value.

Q. What is accidental damage?

A. The loss or damage incurred as a result of flood, fire, theft, and any other kind of accident.

Q. How do I increase my insured sum?

A. You can always call MSIG to increase your sum insured. The premium for the increased amount will be calculated based on prorate starting from the increased date to the expiry date of the policy.

Q. If my two-wheeler was parked outside my building and it was stolen, can a make a claim?

A. The policy includes the items or valuables that are in the house or within the premises of your house. If your two-wheeler was outside the premises of your house, then you cannot make a claim.

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