Why Home Fire Insurance in Singapore is Necessary?
In all kinds of home accidents, home fire is part of the fatal home injury which threatens to people's safety frequently and widely. Victims of home fire accidents can suffer serious harm, which includes burn injury to their body. Home fire deaths are more than other fire deaths.
Home fire can be caused in many ways, overloading or short circuit of electrical wiring, cooking gas, cooking oil and smoking are common reasons in civilian fires.It can lead to tragic personal injury and devastating damage, home fire deaths only from burns but also from smoke inhalation and toxic gases.
Unfortunately, sometimes it's difficult to know who is responsible for the home fire since some are incidents. In this case, home fire insurance in Singapore is designed to reduce the loss or damage as a result of it.
The main function of the purchasing home insurance is to ensure the daily lives of the residents. Once something happens, you can get some compensation to fight against the loss. For tenants who rent their own house to make money. Once an accident occurs, their houses are damaged, which will break the contract. In this case, if they have bought home insurance, their profit could be protected. In addition, the purchase of home insurance will improve your credit. Generally speaking, when you apply for a loan, the bank will ask you to cover your house, which will increase the value of your house.
Concerning to the home fire, several questions are asked often.
1. What does home fire insurance cover? Home fire insurance in Singapore covers the cost loss or damage to the building by the insured perils.
2. What are not covered by home fire insurance? Loss by theft, dishonesty or wilful act and consequential loss of the home fire is not covered.
3. What is the condition of home fire insurance? The building should be residential premises, non pre-war building and construction of reinforce concrete and bricks.
Everyone may experience a home fire accident during their lifetime, but most of them don't treat the home fire insurance in Singapore as well as other home insurance. Desmond Lee, Minister of State for National Development point out that it is not compulsory for all property owners to buy home fire insurance, but it is prudent for all residential and commercial property owners to make sure that their properties are adequately insured against damages or losses caused by unfortunate accidents.
Home fire can be caused in many ways, overloading or short circuit of electrical wiring, cooking gas, cooking oil and smoking are common reasons in civilian fires.It can lead to tragic personal injury and devastating damage, home fire deaths only from burns but also from smoke inhalation and toxic gases.
Unfortunately, sometimes it's difficult to know who is responsible for the home fire since some are incidents. In this case, home fire insurance in Singapore is designed to reduce the loss or damage as a result of it.
The main function of the purchasing home insurance is to ensure the daily lives of the residents. Once something happens, you can get some compensation to fight against the loss. For tenants who rent their own house to make money. Once an accident occurs, their houses are damaged, which will break the contract. In this case, if they have bought home insurance, their profit could be protected. In addition, the purchase of home insurance will improve your credit. Generally speaking, when you apply for a loan, the bank will ask you to cover your house, which will increase the value of your house.
Concerning to the home fire, several questions are asked often.
1. What does home fire insurance cover? Home fire insurance in Singapore covers the cost loss or damage to the building by the insured perils.
2. What are not covered by home fire insurance? Loss by theft, dishonesty or wilful act and consequential loss of the home fire is not covered.
3. What is the condition of home fire insurance? The building should be residential premises, non pre-war building and construction of reinforce concrete and bricks.
Everyone may experience a home fire accident during their lifetime, but most of them don't treat the home fire insurance in Singapore as well as other home insurance. Desmond Lee, Minister of State for National Development point out that it is not compulsory for all property owners to buy home fire insurance, but it is prudent for all residential and commercial property owners to make sure that their properties are adequately insured against damages or losses caused by unfortunate accidents.
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