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Fire insurance does not cover home contents
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Ivan Kwee, Sherlyn Sim
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The Housing Board (HDB) requires flat owners who have taken HDB loans to buy and renew HDB fire insurance for their homes as long as they have an outstanding loan.
According to its website, fire insurance lasts for five years, and home owners have to renew the insurance every five years until the loan is fully paid. It covers the cost of reinstating damaged internal structures and fixtures and areas built and provided by HDB.
