Here’s how you can protect your home with Enhanced Home Insurance.
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Protection for your house building[1], its contents[2] and renovations[3]. 18May
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Coverage if damages are caused to others’ houses.
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Protection against accidental death, disability and specified injuries[4].
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Flexibility to decide how much coverage you want for your home, avoiding both over-insurance and under-insurance.
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Peace of mind during home emergencies with Income's Emergency Home Assistance[5]. 24/7 assistance for plumbing, electrician, locksmith and pest control via our hotline (Bonus services).
For a more detailed look at what you are covered for, you may view the full coverage information here.
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Home details
Let us walk you through Enhanced Home Insurance.
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How Enhanced Home Insurance provides protection for your home
What it covers
PROTECTION FOR
YOUR HOUSEHOLDHOME CONTENTS[2]
Damages covered
e.g. television, laptop, bedAccidents in the home[1]
Accidental death or permanent disability coveredDAMAGES TO OTHERS' HOUSES
Liability covered
e.g. if fire from your house spreads to theirsRENOVATIONS
Damages covered
e.g. ceiling lamps, walk-in wardrobe, kitchen counter
Understanding over-insurance and under-insurance
If you get coverage that is more than the reinstatement value of your house, you are over-insured as insurers will only pay the amount required to restore your property to its undamaged state. Hence, you’re paying unnecessary premiums on additional coverage that will not be claimable.
If you get coverage that is less than the reinstatement value of your property, you are under-insured and will only be able to claim a proportion of the damage. So for example, if your building costs $500,000 to rebuild and you only get coverage of $250,000, you will only be able to get back 50% of any covered damage.
Our Enhanced Home Insurance offers you that value-add by giving you the flexibility to choose the coverage amount you need for your building, renovations and contents.
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Understanding Over and Under Insurance
Mr Tan just bought a new house with a market value of $800,000 and wishes to insure it.
As insurance is meant to cover the cost to restore your property to its undamaged state, the amount to insure is the reinstatement cost if the property was completely destroyed, which may be different from its market value.
If Mr Tan’s house costs $500,000 to restore it to its undamaged state in the event it gets completely destroyed, $500,000 is recognised as the reinstatement cost and the amount he should insure.
Under Insurance is when you get coverage that is less than the reinstatement value of your property.
You will only be able to claim a proportion of the damage should you ever need to.
Over Insurance is when you get coverage that is more than the reinstatement value of your house.
You will be paying more than is necessary for additional coverage that is not claimable.
Mr Tan chooses $300,000 building cover which is 60% of the reinstatement cost resulting in him being underinsured.
Mr Tan chooses $550,000 building cover which is more than the reinstatement cost resulting in him being over-insured.
Meet Mr Tan, who may encounter 2 possible scenarios where he will be claiming with his Home Insurance after his house was destroyed.
Scenario AIf Mr Tan’s house is completely destroyed, he would incur the reinstatement cost of $500,000 to have it restored to its undamaged state.
Mr Tan will get the $300,000 that he insured his house for, which is only 60% of the loss.
Mr Tan will get only $500,000 even though he insured his house for $550,000 because it costs $500,000 to reinstate his house to its undamaged state.
Scenario BIf Mr Tan’s house gets partially damaged, it would cost him $200,000 to restore it to its undamaged state.
Mr Tan will only get coverage for 60% of the loss and will be able to claim $120,000 even though his building cover is $300,000 as he is underinsured.
Mr Tan will get the full $200,000 required to reinstate his house.
Our Enhanced Home Insurance offers you that value-add by giving you the flexibility to choose the coverage amount you need for your building, renovations and contents.
The above examples are for illustrative purposes only.
Information is correct as of 20 September 2019.

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Footnotes
- Building means the following:
For Housing Development Board (HDB) flats, condominiums, apartments or cluster houses, it will include the building structure (but not the foundations), fixtures and fittings based on HDB’s or the property developer’s standard specifications. This means we will not cover areas you do not own or which are not provided just for your use. For example, this can include shared areas such as corridors, car parks, stairways, lift lobbies and swimming pools.
For landed properties such as bungalows, semi-detached and terrace houses, it will include the building structure (but not the foundations), garages, outbuildings, swimming pools, terraces, footpaths, driveways, gardens, gates, fences and other private areas you own and which the public do not have access to. - Contents means any physical and movable household items or personal belongings including money and valuables kept within the premises that belong to you or your family members. But it does not include, amongst other items, motor vehicles, pets and items connected with your business or trade. Please refer to the policy contract for the exclusions and the benefit sub-limits for each type of content.
- Renovations means improvements and additions made within the premises by you or any previous owner or tenant in the form of fixtures and fittings. For example, this could include flooring, built-in wardrobes and kitchen cabinets. They do not form part of the building cover.
- The personal accident cover will apply if you, your husband, wife or children are involved in an accident within the premises which causes an injury and due only to this accident, you or they die or become permanently disabled within 90 days from the date of the accident. The amount of benefit payable is subject to the scale of compensation in the policy contract. Premises means the residential property which you insure at the address shown in the policy contract. This does not include shared areas as described in our definition of building.
- Income has arranged for our appointed Emergency Home Assistance company to provide policyholders with emergency plumbing, electrician, locksmith and pest control services 24/7, subject to policy conditions. This bonus service is a complementary service provided to you. It does not form part of the benefit provided under the policy contract. Income reserves the right to amend or discontinue the service at any time at its sole discretion without prior notice. Learn more at www.income.com.sg/home-insurance/EHA.
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Exclusions
There are certain conditions whereby the benefits under the plans will not be payable. You can refer to the policy contract for the precise terms, conditions and exclusions of the plans. The policy contract will be issued when your application is accepted.
Important Notes
This is for general information only. You can find the usual terms and conditions of this plan in the policy conditions.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Income or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
Information is correct as of 1 August 2019.
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Information is correct as of 29 September 2023.
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