eTiQa Home Insurance: Why You Should Consider It

eTiQa Home Insurance: Why You Should Consider It

Etiqa's eProtect Home Insurance is no longer offered.

Good for

  • HDB owner-residents who are looking for value home insurance policies with great 24-hr home emergency assistance service
  • Those who want to purchase a long-term protection on their flats

Bad for

  • Private property owners can find better deals else where
  • HDB owners who want the flexibility to shop around for a new policy every year

Editor's Rating

4.0/5.0

Etiqa's eProtect home is no longer offered. Please proceed to view our review of Etiqa's new home insurance policy: Tiq home insurance.

Table of Contents

This compares the cost of home insurance for 4-room HDB flats in Singapore from major insurance companies

Etiqa ePROTECT Home Standard Plan

As long as you are purchasing Etiqa's 5-year plan, ePROTECT Home Standard is one of the cheapest policies you can purchase for your 4-room HDB flat. In fact, it costs only S$51.44 per year (S$257.2 for 5 years) compared to NTUC Income's S$51.36. Meanwhile, Etiqa's plan provides S$50,000 in renovation protection and S$30,000 in contents coverage, slightly higher than NTUC Income's S$77,500 of coverage combined. Without a doubt, Etiqa's Standard Plan has one of the highest value ratios in the space, with S$1,555 of coverage provided per S$1 of premium, 30% higher than the market average for 4-room HDB flat policies.

Etiqa also boasts a market-leading emergency home assistance service. This is a rare end-to-end service, offered by only a handful of insurers in Singapore, to assist in major emergency repairs for plumbing, electricity, locksmith and pest control issues. Etiqa is especially noteworthy in this space because its maximum coverage for this service S$800 per year (S$200 per event x 4), much higher than the usual S$100-S$300 offered by other insurers. We should also highlight that Etiqa's policies come with additional protections such as S$12,000 for alternative accommodation, S$4,500 for damage by movers, S$5,000 for removal of debris, S$500 for lock replacement, S$500 for freezer food, S$9,000 for valuables (i.e. jewelry) and S$2,500 for maid's belongings.

eProtect Home Standard (S$)Mkt Avg (S$)
Price51.44 for 5 years (60.5 for 1 year)137.43
Value ($Insured/$Insured)1,5551,175
Renovation50,00089,630
Content30,00040,590
Family Accident50,000
Liability to Third Party500,000
Alternative Accommodation12,000
Damage by Professional Movers4,500
24-hr Emergency Home Assistance ServiceS$800 annually (S$200 per service)
Locks/Keys500
Frozen Food500
Legal Document0 or Unspecified
Money750
Laptop/Desktop
Valuables9,000
Pet500
Excess for Contents50

Etiqa ePROTECT Home Deluxe Plan

Etiqa ePROTECT Home Deluxe Plan is a great choice for value-conscious owners of 5-room HDB flats or above. Similar to the Standard Plan, the Deluxe Plan combines low price, high coverage and multitudes of generous value-add protections like alternative accommodation and damage by movers. While most high-limit policies skimp out on content coverage, Etiqa Home generously allocates S$50,000 to home contents, which we think is sufficient for 5-room HDB or similar private properties. As with other Etiqa policies, it stands out within the "best value" segment of HDB home insurance due to its market leading Emergency Home Assistance that provides up to S$800 (vs S$100-S$300 offered by competitors) in annual coverage (S$200 per event x 4) for emergency plumbing, electricity, locksmith and pest control services.

eProtect Home Deluxe (S$)Mkt Avg (S$)
Price82.54 for 5 years (97.11 for 1 year)232.69
Value ($Insured/$Insured)1,4541,032
Renovation70,000146,110
Content50,00075,140
Family Accident50,000
Liability to Third Party500,000
Alternative Accommodation18,000
Damage by Professional Movers7,500
24-hr Emergency Home Assistance ServiceS$800 annually (S$200 per service)
Locks/Keys500
Frozen Food500
Legal Document0 or Unspecified
Money750
Laptop/Desktop1,500
Valuables15,000
Pet500
Excess for Contents0

Etiqa ePROTECT Home Prestige Plan

Given its high level of coverage, Etiqa's ePROTECT Home Prestige Plan is likely designed for executive HDB owners. Among the best policies that provide S$150,000 of protection for home renovation and content, Etiqa's tends to have lower value ratio, especially compared to the likes of Aviva, AXA or NTUC Income. However, its value ratio is still above average of the market, and we think Etiqa's generous coverage for things like personal valuables (i.e. jewelries) and its market-leading Emergency Home Assistance service make it a must-consider for wealthy HDB owners.

eProtect Home Prestige (S$)Mkt Avg (S$)
Price160.5340.81
Value ($Insured/$Insured)1,2461,067
Renovation100,000200,460
Content100,000110,910
Family Accident50,000
Liability to Third Party500,000
Alternative Accommodation22,500
Damage by Professional Movers10,500
24-hr Emergency Home Assistance ServiceS$800 annually (S$200 per service)
Locks/Keys500
Frozen Food500
Legal Document0 or Unspecified
Money750
Laptop/Desktop1,500
Valuables21,000
Pet500
Excess for Contents0

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