Monday, April 23, 2007

Home content insurance

In the past, most owners take up fire insurance on their property to meet the requirements of the financing body.

Singapore is relatively safe from natural disasters and crime.

The situation is changing, as follows:

* people now have more valuables in their home
* there are more foreigners, especially from poorer countries, working here
* even the Singaporeans may be forced by circumstances into crime

In other countries, insurance on home content is quite popular. The coverage is more comprehensive than similar products in Singapore.

We need to develop better products to meet the expanding needs. I shall be making some research into this area.

If you are interested, you can search for "content insurance" to see what is being covered.
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1 comment:

Thomas Phua's Blog said...

Many home theft insurance must be followed by forcible entry.

This is a little outdated as thief today are quite skillful and well trained.

I had a case that came in from window and no sign of forcible entry.

Then Ntuc Income rejected the claim and I appeal.

Then CEO, Mr Tan agree with me on the way thief enters by the window, though no forcible entry, paid on ex-gratia.

I believe no insurer will pay based on Mr Tan's understanding then.

Mr Tan's reason was, there is actual lost due to theft.

- Thomas Phua

April 23, 2007 10:29 PM

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