Etiqa Insurance Singapore has been designated as the official fire insurer for the Housing and Development Board (HDB) Fire Insurance Scheme, a crucial program that offers essential fire insurance coverage for all sold HDB flats. This new partnership began on August 16, 2024.
Understanding the HDB Fire Insurance Scheme
The HDB Fire Insurance Scheme is specifically designed to cover the costs of restoring internal structures and fixtures provided by HDB that have been damaged by fire. It also includes coverage for necessary repair work on adjacent properties and water damage resulting from burst pipes.
Insurance premiums under the scheme are highly affordable, ranging from $1.11 to $6.68 for a five-year period, depending on the type of flat. Current HDB flat owners will continue to be covered by their existing insurance providers until their policies expire.
Etiqa’s Role in the HDB Fire Insurance Scheme
Raymond Ong, CEO of Etiqa Insurance Singapore, emphasized the critical importance of home security, especially in the face of unexpected events like fires.
“At Etiqa Insurance Singapore, we understand the importance of home security, particularly when dealing with unforeseen incidents like fires,” Ong stated. He affirmed Etiqa’s commitment to providing affordable fire insurance to ensure that homeowners are financially protected against fire damage to the internal structures and fixtures provided by HDB.
“As the appointed insurer for the HDB Fire Insurance Scheme, we are dedicated to offering comprehensive and affordable fire insurance coverage, giving Singaporean homeowners the peace of mind they deserve,” Ong added.
Homeowners are also encouraged to explore additional home content insurance policies for broader protection. These policies can cover personal possessions and renovations, which are not included under the standard HDB scheme.
Etiqa’s 10th Anniversary and Community Engagement
This agreement with HDB coincides with Etiqa’s 10th anniversary, a milestone celebrated through their participation in the NATAS Travel Fair 2024, held from August 16 to 18 at the Singapore Expo.
At the event, Etiqa introduced special promotions, including opportunities to win Apple products valued at SG$2,350 and an additional 5% discount on all Travel Infinite insurance plans for Maybank cardholders.
Ong highlighted Etiqa’s unwavering dedication to protecting Singaporeans during their travels, particularly given the increasing frequency of unexpected events.
“Over the past decade, Etiqa has remained steadfast in our commitment to safeguarding Singaporeans during their travels. The necessity of comprehensive travel insurance is more critical than ever, especially with the rising occurrence of unexpected events such as air turbulence,” he remarked.
