Why You Should Switch Your Home Insurance Plan

Switch your home insurance

Do you remember the last time you reviewed your home insurance plan? Perhaps the only time you browsed through the myriad of home insurance plans available was when you took a mortgage loan for your very first home? Or maybe you thought that the mandatory HDB Fire Insurance you had to take with your HDB housing loan would suffice?

Sorry dude, home insurance covers more than just fire incidents. There’s no need to stick to the same home insurer as your fire insurance provider too. It’s good practice to review your insurance coverage on a regular basis or when there are major changes to your home or life. Here’s why it may be beneficial to switch your home insurance plan.

More affordable premium

With the Federal Reserve committed to keeping interest rates near zero till 2023, many homeowners are refinancing their housing loans due to the rate-friendly stance. Make use of the opportunity to do a home insurance review. Who knows, you may find a more affordable plan than what you are currently paying for.

For HDB homeowners, in case you didn’t know, it is not compulsory to stick to your existing HDB Fire insurer to extend protection over your home contents. Do a quick comparison online and get a separate home insurance policy from an insurer of your choice with more competitive pricing for some cost savings!

How to choose a suitable home insurance

Better coverage for the same premium amount

Of course, comparison of plans doesn’t stop at the cost. You should look into the specific coverage provided in the policy as well. Furthermore, you want to make sure you find a home insurance plan that caters to your exact needs so your money is well spent.

Tiq Home Insurance’s flexible coverage lets you choose the sum insured and tenure (1, 3 or 5 years), as well as optional add-ons, so you only pay for what you need. In the event your home is uninhabitable due to an insured peril such as a fire, you also get up to S$5,000 Emergency Cash Allowance within 24 hours. This is aside from the claims for home contents, building and renovation.

From time to time, Tiq Home Insurance also reviews and enhances its coverage, such as the newly introduced accidental breakage of fixed glass coverage, ensuring our plans remain affordable and competitive in the market.

Better customer service

Flood at home

Is your home insurer easy to reach, provides If something happens in the wee hours of the night, are you able to reach them immediately for help?

You want an insurance company that is always there for you, willing to go the extra mile to keep you happy and safe.

At Tiq by Etiqa, not only can customers easily and quickly submit their claims via TiqConnect (a digital self-help portal) online, there is also our digital chatbot – Trix and dedicated customer care hotline to reach out to. It’s time to switch your home insurance plan (and insurer) if the current service is not meeting your expectations!

#TiqOurWord Customers who purchase a 3 or 5-year Tiq Home Insurance plan enjoy complimentary 24-hour Emergency Home Assistance (EHA) benefit. This means as a homeowner or tenant, you get round-the-clock home assistance services when you face any of the four common household issues relating to plumbing, electrical, locksmith and pests^!

^The cover limit is S$200 per event, and up to 4 events per year.

Greater sense of security with an established home insurer

In addition, your home insurer should be financially stable with an established history in the industry. You want to feel secured that your money is in safe and reliable hands.

Etiqa Insurance is part of the established Maybank Group with a credit rating of ‘A (Strong)’ by credit agency, Fitch. As the digital channel of Etiqa Insurance Singapore, Tiq by Etiqa Insurance is an award-winning insurer that you can trust.

Some of our accolades include the Home and Contents Insurance – Gold Winner in 2020, as well as the Best Customer Centric Insurance Brand in 2019.

Enjoy attractive bundled rates with add-on protection

Finally, you want the flexibility of customising protection that fits your exact needs, without the burden of hefty bills. Tiq Home Insurance does just that. Plan rates start from an affordable S$28/year and enjoy attractive bundled rates with optional protection, such as Personal Cyber Insurance and Multi-appliances Home Protector.

Should you switch your home insurance plan?

A family pondering on whether they should switch home insurance

While you are taking time to reflect on the past year and set resolutions for the New Year, it’s a good idea to review your insurance coverage too, so that your family and home will be adequately protected.

Remember, you aren’t married to your home insurer. At the end of the day, the best home insurer (for you) should be able to provide value-added services that you will appreciate.

Check out Tiq Home Insurance to keep your home and household members safe! Learn more here.


Information is accurate as at 14 January 2020. This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC.


Tiq by Etiqa Insurance Pte. Ltd.

A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.

With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.

Discover the full range of Tiq online insurance plans here.



Be the first to know
Get the latest promotions and news

Please share with us which topics interest you:
Financial Planning
Health & Wellness
Travel & Leisure
For the Millennials
Promotions & Giveaways

I consent and agree for Etiqa Insurance to collect, use and disclose the personal data above for the purposes of validation and sending, via telephone calls and text message. Read Etiqa's Privacy Policy [here]