Ask a home insurance claims specialist
Home insurance coverage
Q: What does home insurance cover?
Home insurance provides protection to the structure and contents of the house in the event of damage or loss. The sum insured and extent of cover (e.g. what’s covered under each circumstances) are dependent on the respective policy’s coverage.
As there are many home insurance products available in the market with varying coverages – from basic home insurance plan, to bespoke plans tailored to your specific lifestyle and needs – it’s important to do your homework or speak with an insurance specialist to ensure you make an informed decision.
Q: Is the coverage for home insurance and fire insurance the same?
There’s a general misconception that they are the same. Typically, a home insurance policy covers the loss of or damage to your furniture, renovations, personal belongings, etc. However, there are some basic fire policies that only covers damage to the structure of the home.
For example, if a fire breaks out in your bedroom, a basic no-frills fire insurance policy with no contents cover will cover the structural damages but not your damaged contents like furniture or valuables.
If you are looking for home insurance that can provide an “all risk” cover to both structural and content components of your home, our bespoke deluxe home insurance policy – Masterpiece® – will be able to meet your needs.
Q: Is home insurance really necessary? And what type of coverage is sufficient for me?
Yes, definitely – insurance affords that peace of mind knowing that should an unfortunate event occur, you’re covered.
The type of home insurance one should consider is dependent on their individual needs and lifestyle. For example, if you own a designer home, you want to ensure that in the event of damage, your policy provides restoration or rebuilding benefit.
If you travel frequently, a policy which provides worldwide coverage of personal belongings would be appropriate. Or if you have an extensive wine collection at home, you’ll need to ensure your policy provides adequate coverage for the collection in the event of any loss or damage. If these examples resonate with you, you can consider our Masterpiece policy – a deluxe home insurance policy – that allows you to customise your coverage accordingly.
There are also benefits in home insurance policies which people often overlook. Policies that provide “home assistance services” can be extremely useful in emergency situations where you need access to plumbers, locksmiths or general contractors.
You can read more in our article "Do you really need home insurance?"
If you are unsure about the type of coverage you should be looking out for, you can speak with your insurance broker, agent or contact Chubb directly.
Home insurance claims
Q: What are the top 5 home insurance claims Chubb receives?
They are:
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Water damage (e.g. leak from your water heater)
Did you know that water damage coverage is only applicable to damage that resulted from the leak? This could be your warped cupboard or water stains on your false ceiling. It does not include the repair costs incurred from replacing the pipes that leaked.
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Fire (due to electrical origin)
Did you know that one of the most common cause of fires in Singapore is electrical in nature? In particular, Chubb has paid out several claims relating to the fires caused by personal mobility devices (PMDs).
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Damage to or loss of mobile and electronic devices (e.g. iPads)
Did you know not all home insurance policies provide coverage for mobile devices or equipment. Our Masterpiece policy however, covers damage or loss of your electronic device (including mobile phone, laptops, iPads etc.) both inside and outside your home.
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Damage to or loss of other personal items (e.g. bicycles, earrings, etc.)
Did you know that Masterpiece’s Pair and Sets clause provides cover for a pair of earrings even when you had only just lost one side of it?
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Cracked or shattered glass panels at home
Did you know that glass can spontaneously shatter? The presence of nickel sulphide can cause glass to suddenly explode. However not all home insurance policies provide cover for shattered glass panels, so you might want to consider opting for a policy, such as Masterpiece, that provides this benefit. Speak to us to find out more.
Q: What is a typical residential claim process like?
In the event of loss or damage, you can submit a claim via email. The notification of claim should be accompanied with:
- A completed Claim Form
- Coloured photos showing the damage
- Itemised quotation/invoice detailing the repair works required
- Any other additional reports to supplement the claim
Home insurance claims process
Quick guide to help you get started on your home insurance claims process.
If you are a Masterpiece policyholder, you can download the Masterpiece Claim Form and submit the completed form to your insurance broker, agent or email Chubb at NewClaimMasterpiece.SG@Chubb.com.
Q: What happens after a claim is submitted?
When reviewing a claim submission,
a. Gather all facts – Find out what happened (e.g. when, how etc.) and gather facts from the information provided by the Insured before contacting them for more information if required.
b. Documentation – It’s a good habit for a claims specialist to keep a detailed record of all information pertaining to the loss/incident accurately from the start of the claim review process, for easy reference. This practice not only alleviates the frustrations of the Insured (saves the need to provide information repeatedly, if not filed properly) but also gives them an assurance that information they have provided are not lost during the process.
c. Connect the dots – It’s important to piece all the information together to fully comprehend what the Insured had experienced. By doing so, I can make a fair and informed decision and determine if the policy affords cover on the loss. In addition, I will also make it a point to inform the Insured on what is covered and what is not in order to manage expectations as the claim progresses. We understand that the event of loss can be stressful, hence, keeping the Insured updated on the progress regularly will also provide some relief.
Q: Typically, how long does it take for you and your team to process a claim?
The duration is dependent on the complexity of the claim.
After receiving a claim, our team may appoint loss adjusters who will assess the extent of damages on-site within 24-48 hours. The loss adjusters will also guide the Insured along the claim process. Once a quote is received and the contractor is engaged, repair works will commence.
And upon receipt of all required information regarding the repair works, our team will typically process the claim within 7 working days.
Q: If I submit a claim, will the premium increase upon next renewal?
We review each claim on its own merit. Its complexity and other variables will determine the premium for next renewal.
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Disclaimer - The content of the above article is not intended to constitute professional advice. Although all content is believed to be accurate, Chubb Insurance Singapore Limited (Chubb) makes no warranty or guarantee about the accuracy, completeness, or adequacy of the content of this article. Users relying on any content do so at their own risk.
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