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Can I apply to be partially exempted from the Home Protection Scheme?

You cannot be exempted from the Home Protection Scheme (HPS) and insured under HPS at the same time. However, you may apply to be 50% exempted from HPS while your co-owner applies for a 50% HPS share of cover.

The total share of coverage for all co-owners must add up to at least 100% of the outstanding housing loan.

You are encouraged to be insured under your private insurance based on your share of responsibility to service your housing loan. This will ensure that you have sufficient coverage to settle your share of outstanding housing loan in the event of a claim.