HDB Flats Damaged by Fire and Households Covered under HDB Fire Insurance Scheme

Debated in Parliament on 12 Sep 2022.

Summary written by AI (learn more)

Sitoh Yih Pin asked about the number of HDB flats damaged by fire in the past five years and whether HDB would expand its Fire Insurance Scheme to cover home contents, renovations, and personal belongings.
Foo Mee Har inquired about the current percentage of HDB households insured under the scheme and suggested making it mandatory with financial support for those unable to afford it.
Desmond Lee responded that 51% of HDB flats are insured, with premiums ranging from $1.62 to $8.10 for five-year coverage, and highlighted that insurance is mandatory only for those with HDB mortgage loans, while others are encouraged to seek their own coverage.

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Sitoh Yih Pin

Mr Sitoh Yih Pin asked the Minister for National Development (a) in each of the past five years, what is the number of HDB flats that are damaged in a fire; and (b) whether HDB will consider expanding the HDB Fire Insurance Scheme to include home contents such as furniture, renovation and loss of personal belongings.

Foo Mee Har

Ms Foo Mee Har asked the Minister for National Development (a) what is the current percentage of HDB households that are insured under the HDB Fire Insurance Scheme; and (b) whether the Ministry can consider making the HDB Fire Insurance Scheme mandatory for all HDB flats, with support to be provided to those who are unable to afford this scheme.

Desmond Lee

The number of residential fire incidents reported to HDB over the past five years are shown in Table 1.

As of 31 July 2022, 51% of HDB flats are insured under the HDB Fire Insurance Scheme. It is mandatory for flat owners who take a mortgage loan from HDB on or after 1 September 1994 to purchase the HDB fire insurance from HDB’s appointed insurer.

The HDB Fire Insurance Scheme relieves HDB flat owners of the financial burden of repair work to their flat in the event of a fire. The basic fire insurance premiums offered by HDB's appointed insurer are inexpensive. For a five-year coverage, the current premiums range from $1.62 for a 1-room flat, to $8.10 for an Executive/Multi-Generation flat.

Flat owners who do not take a mortgage loan from HDB are not required to purchase the HDB fire insurance policy. We understand that some financial institutions do impose a requirement on HDB flat owners who took a mortgage loan from them, to buy home insurance from their appointed insurer. For all other flat owners, they have the option to purchase insurance cover with an insurer of their choice and are encouraged to ensure that their properties are adequately insured against damages caused by unfortunate accidents such as fire.

As with many other forms of insurance, it is the responsibility of owners to ensure that they have proper insurance coverage or the financial means to repair and restore their properties in case of damage.

Summary written by AI (learn more)

Sitoh Yih Pin asked about the number of HDB flats damaged by fire in the past five years and whether HDB would expand its Fire Insurance Scheme to cover home contents, renovations, and personal belongings.
Foo Mee Har inquired about the current percentage of HDB households insured under the scheme and suggested making it mandatory with financial support for those unable to afford it.
Desmond Lee responded that 51% of HDB flats are insured, with premiums ranging from $1.62 to $8.10 for five-year coverage, and highlighted that insurance is mandatory only for those with HDB mortgage loans, while others are encouraged to seek their own coverage.

Questions identified by AI (learn more)

HDB Flats Damaged by Fire and Households Covered under HDB Fire Insurance Scheme | PAPERCUTS

HDB Flats Damaged by Fire and Households Covered under HDB Fire Insurance Scheme

Debated in Parliament on 12 Sep 2022.

Summary written by AI (learn more)

Sitoh Yih Pin asked about the number of HDB flats damaged by fire in the past five years and whether HDB would expand its Fire Insurance Scheme to cover home contents, renovations, and personal belongings.
Foo Mee Har inquired about the current percentage of HDB households insured under the scheme and suggested making it mandatory with financial support for those unable to afford it.
Desmond Lee responded that 51% of HDB flats are insured, with premiums ranging from $1.62 to $8.10 for five-year coverage, and highlighted that insurance is mandatory only for those with HDB mortgage loans, while others are encouraged to seek their own coverage.

Questions identified by AI (learn more)

Full Transcript

Sitoh Yih Pin

Foo Mee Har

Desmond Lee

The number of residential fire incidents reported to HDB over the past five years are shown in Table 1.

Summary written by AI (learn more)

Sitoh Yih Pin asked about the number of HDB flats damaged by fire in the past five years and whether HDB would expand its Fire Insurance Scheme to cover home contents, renovations, and personal belongings.
Foo Mee Har inquired about the current percentage of HDB households insured under the scheme and suggested making it mandatory with financial support for those unable to afford it.
Desmond Lee responded that 51% of HDB flats are insured, with premiums ranging from $1.62 to $8.10 for five-year coverage, and highlighted that insurance is mandatory only for those with HDB mortgage loans, while others are encouraged to seek their own coverage.

Questions identified by AI (learn more)

HDB Flats Damaged by Fire and Households Covered under HDB Fire Insurance Scheme

Summary

Questions Identified

Full Transcript

Sitoh Yih Pin

Foo Mee Har

Desmond Lee

Summary

Questions Identified

HDB Flats Damaged by Fire and Households Covered under HDB Fire Insurance Scheme

Summary

Questions Identified

Full Transcript

Sitoh Yih Pin

Foo Mee Har

Desmond Lee

Summary

Questions Identified