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Your home is extremely valuable or big investment in your life. There fore you have to protect our home. To protect your home from natural floods like, fire or earthquakes, you should have to make HDB home protection insurance scheme. If you do the insurance scheme for your home, always you will live happily.
Why you need HDB home insurance scheme
Suppose, if you have finance or credit with you, better to make fire insurance for your home. In case the person who has taken loan from the financial institution, that same person can also get loan from the bank to purchase HDB home protection insurance scheme.
In Singapore, almost above eighty six percent or 86% of people are living in HDB homes. The HDB residents must be encouraged taking HDB home protection insurance scheme.
The HDB policy scheme covers only initial construction of that flat sold from HDB i.e. housing and development board. The HDB home protection insurance scheme does not cover the fitting of your homes such as household things and pipes. Before you are going to buy HDB home insurance scheme, at least you should know the two things, they are
- Basic structure
- Home contents
Basic structure insurance scheme
Actually, the HDB home insurance scheme for basic structure comes under the comprehensive basis. The comprehensive basis of insurance policy covers the whole building, fittings and improvements and it assures against the floods, burst pipes and explosion.
In the same similar way another one more policy is, named peril insurance policy, it covers that cause the particular breakage such as earthquakes and storm. If Singapore does not get these types of tragedy in any way, the comprehensive insurance policies will be more popular in Singapore.
Normally, both the exposure might have share with the same purpose. If any damages or losses, the insurance policies will pay an assurance to your home. You may pay according to the wounded value but not according to the bazaar value. So these types of insurance policies are not to make profit, they help the people.
For an example, if your value of home is about $2 million, if you insure your home to the amount of $1 million, if natural flood or fire cause and it damages up to $100,000 then you can get an insurance claimed amount of $50,000.
However, before you are going to get a policy you should know your basic needs or requirements. Some insurance companies will not provide you earthquakes coverage or at no cost.
Therefore, The HDB home protection insurance scheme is essential for your homes.
Buy Sell Rent Invest Singapore Property
Billy Chen 曾庆义
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com ( email me )
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