Why Home Fire Insurance is Important?
In Singapore, home fire insurance is necessary for everyone. Why? Take a look at some recent statistics on the frequency of home fires and the extent of the damage they have done, you will find the answer. According to the Singapore Fire Administration, there were more than 360,000 home fires in 2010, and these home fires resulted in $6.6 billion worth of damage. Taking a closer look at the causes of these fires, you will find out that 166,000 were cooking-related, 46,000 were fireplace-related and 26,000 were the result of electrical malfunctions.
Your daily activities in home could lead to possibility of a fire that could threaten your home and belongings. Cooking and keeping warm by the fireplace are not the only activities that pose a risk. So do other things, like burning candles or incense. If all of this isn't enough to convince you that having adequate home fire insurance Singapore https://www.hlas.com.sg/PersonalInsurance/HomeContentsInsurance.aspx may be a smart idea, here are just a few more reasons:
Smoke alarms may not be enough. A properly functioning smoke alarm can be a great early warning tool that will alert you to a fire with enough time to get your family to safety and call the fire department. However, fire spread very fast, and getting a smoke alarm to the presence of smoke in your home can not guarantee your home won't be seriously damaged by fire. So don't think that having state-of-the-art smoke and carbon monoxide detectors will prevent a fire and give you enough time to put it out.
Unfortunately, if the worst thing happened, your house burned down, where would you go? It’s great that if you have relatives who will help you out during such a hard time, but if you don't, what would you do? Most standard home insurance covers fire loss with the benefit of reimbursing additional living expenses. For example, if your home is destroyed or damaged enough by a fire and it's not safely habitable, a fire insurance will often pay for the reasonable increase in your living expenses, such as the additional cost of hotel stays, restaurant bills, etc.
Having home fire insurance Singapore can save you from financial disaster. For most people, home is the most valuable asset. Failing to insure it against fire damage could put you in a precarious financial situation. You've worked hard all your life to have the things that you deserve—why put all of that in jeopardy by failing to have adequate fire insurance.
As the old saying goes, fire is a tiger without teeth. So, having home fire insurance to help cover your financial losses is a critical safety net that nobody should do without.