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1 Mar 2024


A family of 3 sheltered under a canvas that is held in the shape of a roof.

Home insurance for your HDB flat offers you peace of mind by paying off your outstanding home loan should you meet with an unexpected event.


While there are different types of home insurance, the ones that are compulsory for most HDB owners are the Home Protection Scheme (HPS) and the HDB Fire Insurance Scheme.


Read on to learn more about the different types of home insurance you need for your HDB flat and the difference between them!

Home Protection Scheme (HPS)

A family of 3 sheltered under a canvas that is held in the shape of a roof.

What is the Home Protection Scheme?

The Home Protection Scheme (HPS) is a mortgage-reducing insurance that protects you and your loved ones from losing your Housing and Development Board (HDB) flat in the event of death, terminal illness, or total permanent disability. It insures members until they turn 65 years old, or until the housing loans are paid up, whichever is earlier.


In the unfortunate event of a claim, HPS will settle the outstanding housing loan, up to the sum insured, with HDB or the mortgagee directly.

Who should get the Home Protection Scheme (HPS)?

You will need to be insured under HPS if you own an HDB flat and are using your CPF savings for the monthly housing instalments. You are strongly encouraged to be insured under HPS if you are paying for your mortgage using cash. 


Eligibility for an HPS cover is subject to approval and you being in good health at the point of application. If necessary, you may be required to undergo a medical examination. The Board may also request a copy of the medical report from your attending doctor.

Share of cover

The share of HPS cover of the outstanding housing loan depends on your share of your monthly housing instalments. This is because HPS claims are paid based on the insured sum. The total share of cover per household must add up to at least 100%.


You and your co-owner(s) may each choose to be covered for 100% HPS share of cover of the outstanding housing loan. In the event of a successful claim, the Board will settle your full outstanding housing loan, up to the sum insured.


However, if you and your co-owner choose to be covered for 50% HPS share of cover each, in the event of a claim, we will pay only 50% of your outstanding housing loan, up to the insured sum, to your mortgagee. Your co-owner will need to continue servicing the remaining housing loan.

Duration of insurance

You will be insured under HPS until age 65, or your housing loan is paid up, whichever is earlier.


If your housing loan will only be paid up after you turn age 65, consider getting additional private insurance coverage after your HPS cover ends.

Premium payment methods

The premium for your HPS cover is deducted annually and automatically from your Ordinary Account.


You will only need to pay the annual premium for 90% of the HPS coverage period. This means that if your HPS cover period is 30 years, you will only need to pay the premium for 27 years.

Fire Insurance

A family of 3 sheltered under a canvas that is held in the shape of a roof.

What is fire insurance?

Damage caused by fires can be significant, especially when it comes to structural damage. Having fire insurance helps to ensure that the financial burden is minimised. The HDB Fire Insurance Scheme offers additional peace of mind from the cost of repair works in a fire.


The current appointed insurer for the HDB Fire Insurance Scheme is FWD Singapore Pte Ltd and the insurance is valid for a five-year period.

Who should get the HDB fire insurance?

HDB fire insurance is compulsory for all flat owners who have an outstanding HDB loan. The insurance is valid for a five-year period and must be renewed once every five years. 

Property covered by the HDB Fire Insurance

The HDB Fire Insurance covers the cost of reinstating damaged internal structures, fixtures and areas built and provided by HDB.  


It does not cover home contents such as furniture, renovations, and personal belongings that could be damaged in a fire. 

Duration of insurance

If you are a flat owner with an HDB loan commencing on or after 1 September 1994, you must buy and renew the HDB fire insurance for your home every five years as long as you have an outstanding HDB loan.

Premium payment methods

Unlike the HPS which can be paid with savings from your Ordinary Account, the HDB Fire Insurance can only be bought using cash.


Learn more about how you can purchase or renew the HDB Fire Insurance with HDB’s current appointed insurer, FWD, on FWD’s website.

Third-party insurance

It is recommended to obtain extra home insurance for enhanced protection of your home contents beyond the HPS and HDB fire insurance.


Private insurance companies offer policies that can protect the contents of your home such as renovations, furniture, and appliances. There are also additional expenses such as debris removal, repair expenses, and costs for alternative living arrangements that private insurance companies can help offset.


Before you sign up for a private home insurance, be sure to research thoroughly for a plan that suits your budget and needs. Refer to a directory of general insurers available on the General Insurance Association of Singapore (GIA) website.

Keep your home protected with insurance for your HDB flat

Knowing your home and possessions are protected with insurance can give you peace of mind for you and your loved ones.


By staying informed and learning about various types of home insurance, such as HPS and the HDB Fire insurance, you can be covered by the ones that best fit your protection needs.


For other housing-related content, be sure to also read this article on other expenses that you have to pay for your home as well!

Information in this article is accurate as at the date of publication.