• Tenet Home Insurance

     Once you finally achieve the milestone of owning your own home, the next hurdle falls your way- safeguarding your home and the valuables within. Each home requires comprehensive protection in case of any unforeseen events or emergencies and this is where home insurance comes into play. Tenet Sompo offers home insurance plans which provide optimum protection and is designed keeping in mind the unique needs of different homeowners in Singapore.

    About Tenet Sompo Home Insurance

    The Tenet Insurance Company Ltd was founded in 1957 and was initially the wholly owned subsidiary of Hwa Hong Corporation Limited. In 2013, Tenet Sompo Insurance Pte. Ltd. was created through a merger of Tenet Insurance Company with Sompo Japan Insurance (Singapore) Pte. Ltd and this development sought to cater to the varying needs of the Singaporean society by offering them a wide range of insurance products, including: personal accident insurance, travel insurance, home insurance, motor insurance, etc.

    Tenet Sompo offers an exclusive home insurance product called “HomeBliss” to its customers, with the aim to provide coverage for their building, properties/ homes as well as to protect their homes from any unforeseen emergency like theft, natural perils like flood, earthquakes, etc. Also it offers three very unique home insurance plans for three different categories of people who require home insurance. Namely, for people staying in their own furnished property or landlords renting out furnished properties, for tenants staying in a rented property and lastly, for landlords who are renting out unfurnished properties.

    Features of Tenet Sompo HomeBliss Home Insurance

    • Around the clock Home Emergency Assistance Services are offered.
    • Home Cleaning Expenses are reimbursed if it is done after the outbreak of some form of infectious diseases such as: H1N1, SARS, Avian Flu, etc.
    • Extension of Worldwide Family Personal liability, to cover Tenant's Liability and Property Owner's Liability as well.
    • Provides financial backup if your home is uninhabitable for 5 or more days.
    • Offers additional facility of “Mobility Enhancement” by reimbursing expenses made in order to modify your home if either you or a family members of yours suffer any form of permanent disability.
    • Cover for personal accident for you and your family.
    • Legal expenses are covered in case an identity fraud occurs and this is applicable worldwide.
    • Smoke damage that arises out of a cooking unit is covered under this policy.
    • 10% loyalty discount can be availed by the customer upon renewal of the policy.
    • Facility for auto-renewal of annual premium payments is available via GIRO payment.

    Home Insurance Plans

    There are three plans or “solutions” to choose from - Solution A, B and C.

    Solution A

    This solution is for people staying in their own furnished property or landlords renting out furnished properties. It offers essential protection to your home and covers fixtures and fittings, personal effects and valuables, as well as helps to completely waive penalty, etc.

    Benefits:

    • Enjoy Family Personal Liability and Property Owner’s Liability cover of up to S$750,000.
    • Personal Accident cover for you and your family if you are inside your house during an accident.
    • Emergency home assistance service is offered around the clock.
    • Accidental death or abduction of your pet dog from your home, is also covered.

    Solution B

    This plan offers coverage for not just for the contents of your home but also offers coverage for legal liability arising out of damages/loss to the landlord’s property. This plan is for tenants who have rented out an apartment/ building.

    Benefits:

    • Coverage for fixtures and fittings in the home.
    • Offers up to S$100,000 coverage for tenant's liability towards landlord’s property, furniture, fittings, etc.
    • In case of under-insurance, a 15% waiver is offered on the penalty imposed.
    • Enjoy Family Personal Liability and Property Owner’s Liability cover of up to S$750,000.
    • Personal Accident cover for you and your family if you are inside your house during an accident.
    • Emergency home assistance service is offered around the clock.

    Solution C

    This solution or home insurance plan is suited for homeowners or landlords who are renting out their property which is unfurnished.

    Benefits:

    Rent Protector Scheme to ensure that you won't be affected if tenant’s default on paying the rent.

     

    • Enjoy Family Personal Liability and Property Owner’s Liability cover of up to S$750,000.
    • Coverage for fixtures and fittings in the home.
    • Covers property owner’s liability.
    • Personal Accident cover for you and your family if you are inside your house during an accident.
    • In case of under-insurance, a 15% waiver is offered on the penalty imposed.
    • Emergency home assistance service is offered around the clock.

    Types of Tenet Sompo Home Insurance Covers

    There are two main types of cover offered under the HomeBliss policy. They are:

    Standard Home Cover: This cover is intended for protecting an individual’s Building and Contents against any loss or damage including loss or damage caused by an Insured Peril such as fire, earthquakes, theft, volcanic eruption etc.

    Enhanced Home Cover: This cover is offered to those who wish to protect their Building and Contents against any accidental loss or damage including loss or damage caused by an Insured Peril. Under this coverage scheme, an excess of $100 is applicable for every claim except for an Insured Peril fire, earthquakes, theft, volcanic eruption etc.

    Optional Coverage

    • With the optional Worldwide Family Personal Liability coverage, you can increase your sum insured to S$1 million.
    • With the optional Worldwide Personal Effects coverage you can enjoy an excess of S$100 for the loss of your personal effects such as jewellery, watches and camera equipment. Both specified and unspecified articles can be insured.
    • The optional Rent Protector coverage reimburses the loss arising out of tenants defaulting on rent payments or your property remains untenanted after a murder/suicide event. Then an amount of up to S$2,500 per month for up to 2 months is offered as compensation from the 3rd month after occurrence of the event.

    Compare Tenet Sompo Home Insurance With Other Insurance Companies Offering Home Insurance in Singapore

    FAQ’s - Tenet Sompo Home Insurance

    1. Am I eligible to apply for home insurance?

      An individual or corporation that owns an apartment, flat or landed property in Singapore, can apply for HomeBliss home insurance scheme from Tenet Sompo.

    2. How can I avail the auto renewal facility?

      An application form for InterBank GIRO is to be filled up and submitted at the Tenet Sompo office. The Bank will process the application within a month and upon successful completion, premium deductions will be made in the month preceding the month of expiry of the policy.

    3. Can I make a claim for accidental damage to fittings and fixtures under the Standard Home Cover?

      No. The Standard Home Cover does not include protection for accidental damage to fixtures. However, the Enhanced Home Cover does provide coverage for such damages.

    4. How can I calculate sum insured for the building and contents?

      Sum insured must include the cost of rebuilding, when you are trying to determine the sum insured for the building. In case of Contents, the sum insured must be based on the cost of replacing the concepts with something new.

    5. In order to replace articles that exceed $2,500, what is the proof that have to be submitted?

      In order to replace specified articles that exceed $2,500, you have to furnish the proof of valuation, receipt/purchase to the company.

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