With so many home insurance plans out there in the market, choosing the right plan can be a challenge. We recommend that you first determine the kinds of coverage that are relevant to you. Then, estimate the adequate amount of coverage you need, while making sure you are not under-insuring your property. We reiterate this point because under-insurance can cost you a lot. For example, if you purchase a S$20,000 coverage on a S$40,000 home, your insurance company will determine that your property is under-insured by 50%. In this case, you will get paid only S$2,000 even if you file for a claim for a loss of S$4,000, because you will be responsible for the remaining portion (50%) of the claim. Finally, we recommend that you single out policies that delivers high value, suits your situation, and offers high sub-limits on items that are important to you. Compare Home Insurance Plans on MoneySmart to find the one with the best price and coverage level for you!