More Comprehensive Insurance Coverage for HDB Homes

Mr Sharael Taha asked the Minister for National Development (a) what is the total number of HDB flats damaged by fire over the past three years; (b) what percentage of these affected flats are covered only under the HDB Fire Insurance Scheme; (c) whether HDB can consider including insurance coverage for renovation, furniture and personal belongings under the HDB Fire Insurance Scheme; and (d) whether this comprehensive insurance coverage can be considered as an opt-out scheme for all HDB home owners.

In the last three years, 369 fire incidents were reported to HDB. Of these, 218 (or 59%) had a valid HDB fire insurance policy. HDB does not track whether flat owners bought other forms of fire or home insurance.

Under the HDB Fire Insurance Scheme, all flat owners who take a mortgage loan from HDB are required to take up a fire insurance policy from the HDB’s appointed insurer and maintain it for the full duration of their loan. The HDB fire insurance policy provides basic coverage for the reinstatement cost of the building structures and fixtures provided by HDB in the event of a fire. This relieves HDB flat owners of the financial burden of repair work to their flat should a fire occur.

To keep the premium low and affordable, the HDB Fire Insurance Scheme does not cover home contents such as furniture, renovation, or loss of personal belongings. Flat owners who wish to take up additional insurance cover for home contents have the flexibility to do so with an insurer of their choice.