You’re a bicycle riding aficionado, a liability-conscious individual, or a house-proud expat with loads of personal belongings. You may travel regularly, for business or pleasure, with valuables such as cameras or computers, a four-figure valued watch or a five-figure valued diamond engagement ring. If you match any of these profiles, you may want to consider a home and contents insurance policy while living and working in Singapore.

You can protect your valuable items, general contents, residential properties, and personal liability all under the ‘home insurance’ umbrella. The type of home insurance available to you will depend on your situation as an owner or a renter.

The majority of expats in Singapore rent condominiums or landed houses. We often spend a great deal of time and money decorating our homes and enjoying the stories behind the acquisition of these items. Silk textiles from Laos, paintings from Vietnam, Indonesian ikat fabrics used as upholstery, antique teak wood benches from Indonesia, Tibetan handmade rugs, Imperial Chinese furniture, or fine colonial antiques; there are home insurance policies available that protect your valuables and the general contents of your home.

If you own a non-landed property (HDB or condo), you can also purchase home renovations insurance that will cover your fixtures and fittings. If you have an eye for renovation and decide to remodel any part of your property, you can add the fixtures associated with the renovations to your policy as a separate add-on within the term of your current policy. No need to wait until renewal. And if you own a landed property, your home insurance would cover the property as well.

Regardless of your situation as an owner or renter, the home insurance policy you take out will also have a personal liability element. Personal liability coverage protects you and your family from situations where you may be legally responsible.

Accidentally opening the driveway gate onto the gardener’s equipment; a child who scratches the neighbour’s car while riding a bike; a pet dog that bites: these are all unexpected incidents that could lead to a third party seeking damage costs from you. You can choose the amount of personal liability cover, but like insuring valuables, you can only select personal liability as an element of home insurance cover.

If you experience a life change such as marriage, divorce or the birth of a newborn, or have made financially lucrative decisions, such as selling art or other personal items of value, home insurance policies are flexible and can be changed to add valuable items or remove them. In the first case, it may add to the premium, and in the latter it will lower the premium. Likewise, if you suddenly find yourself in an expat-relocation situation and you cancel a policy midterm, a pro-rated refund rate may apply based on the terms and conditions of your policy.

The value of covered items, claim history and coverage denial will all impact your premium. Speak with a qualified home insurance advisor to have your valuables and contents assessed for an accurate quotation and protect your belongings from day one in Singapore.

Visit  Expat Insurance Pte Ltd  to find out more about Danielle’s work.