All About Home Insurance Quotes and Costs in Singapore
Updated: 26 Jun 2026
Find the best home insurance plans for peace of mind.
Written byAfina Najib
Senior Content Editor - Singapore
Protecting your home is about safeguarding your peace of mind. Whether you are an HDB flat owner, a condominium resident, or a tenant renting a room, getting reliable home insurance quotes Singapore providers offer is the first essential step to protecting your sanctuary from unexpected financial losses.
While fire insurance covers the bare structural backbone of your building, a robust home insurance policy steps in to shield your internal renovations, expensive furniture, home appliances, and even your personal liability. Let's deep-dive into how you can compare home insurance quotes Singapore market rates feature, and secure the best coverage for your property.
Get Competitive Home Insurance Rates
Learn about the variety of plans available and get the best home insurance cover for your needs.
Saver-savvy tip
HDB flat owners with outstanding HDB loans must buy and renew HDB fire insurance every 5 years. However, homeowners should supplement this with additional home insurance for broader coverage. HDB fire insurance only covers the building structure, not your valuables or renovations.
Where to get home insurance quotes in Singapore
Finding the right coverage requires a side-by-side evaluation of what major insurers provide. To secure an instant home insurance quote Singapore homeowners can rely on, refer to the verified baseline data below.
Note: Premiums are baseline estimates updated for 2026, inclusive of prevailing 9% GST and standard online distributor discounts.
| Products | Building Coverage | Home Contents | Personal Liability | Offers & Rewards | Apply |
| AIG Homes Essential | Up to S$100,000 | S$150,000 (Combined) | S$400,000 | Promotion-eligible (e.g., PayNow cash tokens/vouchers) | [Buy Now] |
| MSIG HomeEasy - Silver Plan | S$0 (Contents Focused) | S$100,000 (Inc. Renovations) | S$1,000,000 | Exclusive partner discounts & personal cyber add-on | [Buy Now] |
| Sompo HomeVital | S$100,000 | S$30,000 | S$500,000 | Standard direct policy benefits | [Buy Now] |
| TIQ Home Insurance | S$117,000 | S$45,000 | S$500,000 | Multi-year cashback incentives (Up to S$50 via PayNow) | [Buy Now] |
| Singlife Home Lite | S$75,000 | S$35,000 | S$250,000 | Base direct percentage discounts apply | [Buy Now] |
| AIG Homes Advantage Package | S$85,000 | S$20,000 | S$1,000,000 | Promotion-eligible high liability perks | [Buy Now] |
| Great Home Protect - Superior Plan | S$50,000 | S$100,000 | S$500,000 | Eco-friendly/Green appliance bonus coverages | [Buy Now] |
Average cost of home insurance in Singapore
The cost of your premium depends largely on your housing type and the total sum insured. Generally, HDB flats command a lower baseline rate compared to sprawling private properties. If you are tracking the market to source the cheapest home insurance quote Singapore platforms list, here is the benchmark of average annual costs (calculated across leading providers, inclusive of 9% GST):
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1-Room / 2-Room Flexi Flat: S$35.00 to S$68.00 per year
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3-Room HDB Flat: S$65.00 to S$84.00 per year
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4-Room HDB Flat: S$75.00 to S$96.00 per year
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5-Room / Executive HDB Flat: S$95.00 to S$125.00 per year
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Condominium / Private Apartments: S$120.00 to S$250.00+ per year
Why you need home insurance
Many homeowners mistakenly believe that the compulsory HDB Fire Insurance scheme or their bank's basic mortgagee insurance is sufficient. It is not. Those policies only restore the structural "shell" of your building (the original walls and pillars) if a disaster occurs.
If a fire breaks out, or a major pipe bursts, the basic policy will not pay a single cent to replace your air-conditioning units, custom kitchen cabinets, built-in wardrobes, or luxury furniture. Home insurance acts as your complete safety net, covering:
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Renovation Risks: The cost of rebuilding fixtures, fittings, flooring, and tiling.
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Contents Protection: Replacing appliances, clothing, personal tech, and valuables.
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Alternative Accommodation: Paying for your temporary stay or hotel if your home becomes completely uninhabitable.
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Personal Liability: Covering legal costs if a fire or leak spreads from your unit and damages your neighbor’s property.
Factors that affect your home insurance quote
When you attempt to get home insurance quote Singapore web portals display, the underwriting engine calculates your premium based on several defining pillars:
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Property Type & Size: Landed homes incur higher premiums due to direct structural liabilities, followed by condominiums and HDB flats. Larger floor areas mean a higher cost to reinstate furnishings.
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Sum Insured Limits: Opting for higher maximum claim caps for your valuables or fixtures naturally increases your recurring premium.
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Choice of Insurer & Add-ons: Custom features—such as specialized worldwide coverage for personal belongings, pet injury insurance, or dedicated personal cyber protection against phishing—will introduce minor variables to your standard quote.
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Policy Tenure: Opting for a 3-year or 5-year fixed structural plan rather than a single-year term typically reduces the annualized cost significantly.
What you need to get a quote for a home insurance plan
When you start shopping for home insurance quotes, insurers will have questions about you and your home to assess the risk and determine appropriate coverage. It’s best to gather all this information first to ensure a smooth, efficient, and accurate quoting process:
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Property type (HDB, condo, landed)
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Size of the home
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Renovation value
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Contents to be insured
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Claims history
Saver-savvy tip
Determining a home's size in Singapore involves different approaches. For HDB flats, My HDBPage offers readily available information. Landed property sizes can be ascertained by using floor plans and manually measuring room dimensions. For precise and professional measurements, particularly in larger or intricate properties, engaging a Property Surveyor is recommended.
You should also have an estimate of how much insurance coverage you need before you start comparing home insurance quotes. If you already have existing insurance, you can use that as a benchmark to see if your needs have changed, if your current coverage remains adequate, and if your premium is still affordable with your current financial situation.
For example, have you done major renovations that increased the value of your property, or have you acquired valuable items that require additional protection? This will guide you in making informed decisions about the level of home insurance coverage required and help you avoid underinsuring your home. You should also search for discounts or promotions for home insurance plans to ensure your home is protected while staying within your budget.
Top tips for comparing home insurance quotes
Whether you’re working with an agent or shopping for insurance on your own, it's usually advised to plan to get at least three house insurance quotes from different providers. That way, you can feel confident you’re getting a good price and that you're comparing a sufficient range of options. When comparing quotes, check that each policy has similar deductibles and coverage limits to ensure you're making an apples-to-apples house insurance comparison. Here are a few key issues to look out for:
Coverage amount
Homeowners typically need enough home insurance coverage to repair or replace their home and its contents in case of common damage, such as fire, flood, or theft. This coverage helps protect you financially in the event of unexpected events that can cause significant financial strain.
It’s also important to understand the difference between structural and renovation coverage. Structural coverage covers the cost of rebuilding your home's basic structure, while renovation coverage protects the financial investment you've made in any renovations or improvements to your home.
Content covered
Contents insurance covers your personal belongings within the home, such as furniture, electronics, clothing, and other valuables. High-value items like jewellery, artwork, and tech gadgets may need extra coverage or specific riders. Homeowners with significant collections or valuable possessions should look for this type of home insurance cover to ensure their prized possessions are adequately protected.
Personal liability insurance
Personal liability insurance covers injuries to guests who are visiting your property or damage to your neighbours' property that you are legally responsible for. This coverage is important because accidents can happen, and you could be held liable for medical expenses or repair costs. You can also consider home insurance plans with personal accidents included for added protection.
Homeowners insurance deductible
Deductibles are the amount you pay out-of-pocket before your insurance coverage kicks in and the insurance company begins to pay for a claim. Higher deductibles result in lower premiums, as you are taking on more of the initial cost of a claim, and vice versa.
There are various homeowners insurance deductible options available in Singapore, so you can choose a level that aligns with your financial comfort and risk tolerance. This includes deductibles specific to certain types of claims (such as household disasters), options for no deductible coverage at a higher premium, and a low deductible for smaller out-of-pocket expenses.
Home Insurance Comparison
It’s important to compare home insurance quotes from multiple providers to secure the best home insurance plan that meets your needs and budget.
Example: Home insurance quote comparison
If you're unsure how to begin comparing home insurance plans, here's an example to show you how you can assess different quotes and find the best fit for your needs.
|
Plan details |
Quoted premium |
|
|
Insurer A |
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$75.00 |
|
Insurer B |
|
$47.00 |
|
Insurer C |
|
$97.00 |
Let's analyse these sample quotes. Insurer A offers the most comprehensive cover for home contents at $150,000, which is significantly higher than Insurers B and C, both offering $50,000. For homeowners with valuable possessions, such as art collections, antiques, or extensive renovations, this higher cover from Insurer A might be crucial. However, the premium is also the highest at $75.00.
Insurer B presents the lowest premium at $47.00, but its home contents coverage is only $50,000. This might be suitable for those with fewer valuable items or a smaller property or those who prioritise cost savings. It's important to consider your personal risk tolerance. Everyone has a different level of comfort when it comes to potential loss.
Insurer C has the highest personal liability cover at $1,000,000, which is beneficial for homeowners concerned about potential liability claims, such as injuries occurring on their property. This is especially important for those who frequently entertain guests or own property features that might pose a risk. However, its building cover is the lowest at $40,000, and the premium is $97.00.
Family structure also plays a role in determining the appropriate cover. For example, families with young children in Singapore might prioritise higher personal liability cover to protect against potential accidents. Property type and location in Singapore also influence insurance needs.
Similarly, landed properties might require higher building cover due to their larger size and structural complexity, whilst HDB flats might have different requirements. Property value in different areas of Singapore can also vary significantly, affecting the cost of rebuilding or repairing.
It's important to remember that these are just examples, and quoted premiums are not always confirmed. If you're leaning towards Insurer A but find the price a bit high, it's worth asking your insurance agent whether you might be eligible for any discounts. If you're drawn to Insurer B's lower price but concerned about the home contents coverage, a good agent may be able to help you tailor your policy until you're satisfied with the coverage and price.
If you're shopping online and don't have the option to adjust your cover, call the company to discuss your needs. It's also crucial to understand how the actual cash value is defined in each policy, as this will impact the amount you receive in a claim.
Let's analyse these sample quotes. Insurer A offers the most comprehensive cover for home contents at $150,000, which is significantly higher than Insurers B and C, both offering $50,000. For homeowners with valuable possessions, such as art collections, antiques, or extensive renovations, this higher cover from Insurer A might be crucial. However, the premium is also the highest at $75.00.
Insurer B presents the lowest premium at $47.00, but its home contents coverage is only $50,000. This might be suitable for those with fewer valuable items or a smaller property or those who prioritise cost savings. It's important to consider your personal risk tolerance. Everyone has a different level of comfort when it comes to potential loss.
Insurer C has the highest personal liability cover at $1,000,000, which is beneficial for homeowners concerned about potential liability claims, such as injuries occurring on their property. This is especially important for those who frequently entertain guests or own property features that might pose a risk. However, its building cover is the lowest at $40,000, and the premium is $97.00.
Family structure also plays a role in determining the appropriate cover. For example, families with young children in Singapore might prioritise higher personal liability cover to protect against potential accidents. Property type and location in Singapore also influence insurance needs.
Similarly, landed properties might require higher building cover due to their larger size and structural complexity, whilst HDB flats might have different requirements. Property value in different areas of Singapore can also vary significantly, affecting the cost of rebuilding or repairing.
It's important to remember that these are just examples, and quoted premiums are not always confirmed. If you're leaning towards Insurer A but find the price a bit high, it's worth asking your insurance agent whether you might be eligible for any discounts. If you're drawn to Insurer B's lower price but concerned about the home contents coverage, a good agent may be able to help you tailor your policy until you're satisfied with the coverage and price.
If you're shopping online and don't have the option to adjust your cover, call the company to discuss your needs. It's also crucial to understand how the actual cash value is defined in each policy, as this will impact the amount you receive in a claim.
In Singapore, some home insurance plans and providers also offer valuable extras, such as round-the-clock access to dependable locksmiths, electricians, plumbers, pest control, and air-conditioning repair. When comparing policies, you should also consider these supplementary benefits and services, as they can add considerable convenience and value to your coverage.
How to find the best home insurance quote
Securing the ideal balance between comprehensive protection and affordable pricing requires a systematic approach:
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Audit Your Reinstatement Cost: Estimate how much it would actually cost to redo your renovations and buy back your possessions today. Do not under-insure to chase a cheaper premium, as insurers apply the "Average Clause" to penalize partial coverage during claims.
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Utilize Multi-Year Plans: Locking into a multi-year package not only buffers you from inflation but often secures deep premium cuts of up to 25% to 30%.
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Look for Strategic Enhancements: Prioritize insurers that offer valuable built-in riders, like 24/7 home emergency assistance assistance (locksmith, plumbing, electrical emergency call-outs).
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Compare Through Aggregators: Always use an aggregator to compare home insurance quotes Singapore offers dynamically. This ensures you capture seasonal flash deals, voucher promotions, and real-time premium updates effortlessly.
Best Home Insurance in Singapore
| Products | Building Coverage | Home Contents | Personal liability | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
S$100000 | N/A | S$400000 | ||||||||
S$82000 | N/A | S$500000 | ||||||||
S$0 | N/A | S$1000000 | ||||||||
S$100000 | N/A | S$500000 | ||||||||
S$117000 | N/A | S$500000 | ||||||||
S$75000 | N/A | S$250000 | ||||||||
S$85000 | N/A | S$1000000 | ||||||||
S$50000 | N/A | S$500000 | ||||||||
See the average home insurance costs by property type
Type of house
Subtype
Average cost (including GST)
HDB
1-room/community care apartment
$34.16
2-room/2-room flexi/studio
$68.03
3-room
$83.42
4-room/s1
$95.89
5-room/s2/3 gen
$109.09
Executive
$109.89
Multi-generation
$109.89
Condominium
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$180.94
Landed house
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$283.42
Your home insurance quote may be higher or lower than the average depending on the other benefits, coverage limits, and add-ons that you choose to add or opt out of. In general, the cheapest homeowners insurance plans will offer basic coverage with minimal add-ons. However, you need to ensure adequate home insurance coverage to protect yourself from potential risks and avoid being underinsured.
Summary
Your home is likely your single largest financial investment, but a basic fire insurance policy leaves your renovations, expensive furnishings, and personal belongings completely exposed. By taking a few minutes to evaluate your property type, calculate your actual contents value, and look at the market benchmarks, you can easily find an affordable policy that keeps your sanctuary safe.
Don't wait for a burst pipe or an unexpected household accident to catch you off guard. Take action today to protect your hard-earned investments and ensure your peace of mind. [Click here to compare the latest home insurance quotes Singapore options on SingSaver and secure your exclusive signup rewards today!
Frequently asked questions about getting homeowners insurance quotes
Homeowners insurance quotes generally do not directly affect credit scores in Singapore. When insurers provide you with a quote, they typically assess factors like your property's value and claims history, not your credit report. However, if you choose to finance your insurance premiums through installments, late payments could indirectly affect your creditworthiness, so it's vital to maintain timely payments on any financing arrangements.
Yes, you can, and it's often advisable to get homeowners insurance quotes before buying a home. Obtaining quotes beforehand allows you to estimate the potential cost of insurance, which is an important factor in your overall budget planning when purchasing a property. Knowing the insurance costs can also help you make a more informed decision about the affordability of the property and its associated expenses.
No, you generally cannot get home and auto insurance quotes as a bundle in Singapore. Home insurance and auto insurance are typically offered and priced separately by insurers.
About the author
Afina Najib
Spending most of her young writer's phase working as a freelancer, Afina's written for various industries ranging from e-commerce, travel to health and finance. Her expertise lies in her ability to make complex subjects like finance easy to consume for everyday readers.