In Singapore, your home is likely to be an important asset. How should you protect your home? Not only can you protect your home from major accidents such as fire, you can also protect its contents. You can even cover your pet if something happens to your home. Let’s explore the types of home insurances that you can consider to protect your home. This article was written by a Financial Horse Contributor. 

1. Home insurance for HDB 

For HDB owners, there are two compulsory types of home insurance:

• Home Protection Scheme(HPS)
• HDB Fire Insurance Scheme

The Home Protection Scheme (HPS) is a mortgage-reducing insurance that protects you and your loved ones from losing your Housing and Development Board (HDB) flat in the event of death, terminal illness, or total permanent disability. It insures members until they turn 65 years old, or until the housing loans are paid up, whichever is earlier....