Property Insurance Flashcards
6 cards from real PGI practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Property Insurance flashcards as text
What is the 'renovation insurance' or 'home renovation protection plan' in Singapore?
Answer: Insurance covering renovation work against damage, third-party liability during renovation, and protecting the homeowner's newly installed fixtures
Renovation insurance covers new renovations against damage from perils like fire, water leakage, and accidental damage. It also provides liability coverage during the renovation period.
Does home insurance cover water damage from a burst pipe in Singapore?
Answer: Typically covered under accidental damage or water damage peril in most comprehensive home insurance policies
Water damage from burst pipes, overflowing tanks, or leaking appliances is typically covered under home contents insurance. However, gradual water damage from poor maintenance may be excluded.
What is the landlord's insurance available in Singapore?
Answer: Insurance for property owners who rent out their property, covering building structure, rental income loss, tenant-related risks, and landlord liability
Landlord insurance protects rental property owners against risks including building damage, loss of rental income (if the property becomes uninhabitable), tenant defaulting on rent, and liability claims.
What is a 'portable all-risks' policy commonly added to Singapore home insurance?
Answer: Coverage for valuable personal items (laptops, cameras, jewellery) that are carried outside the home against accidental loss or damage anywhere
Portable all-risks coverage extends protection beyond the home for specified valuable items. It covers accidental damage, loss, or theft of items like laptops, cameras, and jewellery wherever you take them.
How does the claims process work for home insurance in Singapore?
Answer: Notify the insurer as soon as possible, document the damage with photos, complete a claim form, provide supporting documents (receipts, police report if theft), and await assessment
The claims process involves prompt notification to the insurer, documentation of damage (photos, videos), police report (for theft), completion of claim forms, and provision of purchase receipts or proof of ownership.
What does 'domestic helper insurance' cover in Singapore?
Answer: Coverage for the employer's liability for the domestic worker's medical expenses, personal accident, and repatriation as required by MOM regulations
Singapore employers of foreign domestic workers must provide insurance covering medical expenses, personal accident, hospitalization, and repatriation costs as required by MOM, with a minimum coverage of SGD 60,000.