Homes Advantage explained: benefits, limits and the fine print
AIG's Homes Advantage bundles building, contents and liability cover into package tiers or a custom plan. Here is what the product page states and what to check.
Homes Advantage is AIG's home insurance product for HDB, condominium and landed properties, sold either as a set of package tiers with fixed sums insured or as a custom plan where the buyer sets their own sums insured for building and contents separately.
What the product page states
According to AIG's own published material, the Package plan offers:
- Building cover of S$85,000, S$135,000 or S$225,000, depending on the package tier (Classic, Superior or Premier).
- All-risk contents cover of S$20,000, S$35,000 or S$50,000, matched to the same three tiers.
- Personal liability cover of up to S$1,000,000.
- Alternative accommodation cover, capped at the lowest of 10% of the building sum insured, 20% of the contents sum insured, or S$20,000 — a structure that limits this benefit relative to your overall sums insured rather than providing an unlimited allowance.
- Personal cash cover of up to S$500 for cash kept in the home.
- Five complimentary HomeCare services available 24/7, described on the product page as part of the plan's everyday-emergency support, alongside "first loss protection" on Package plans.
- A custom Homes Advantage plan for buyers who want to set their own building, contents and renovation or fixture sums insured rather than use a fixed package tier.
- A published starting price of S$203.56 a year for the Classic package, inclusive of GST, as stated on the insurer's page at the time it was reviewed for this article.
Reading the tiers and caps correctly
The three package tiers scale building and contents cover together, which means choosing a tier is really choosing a combined sum insured for both the structure and its contents, not two independent decisions. For an HDB flat, it is worth remembering that the flat's own structure may already carry mandatory HDB fire insurance covering the building's fabric — Homes Advantage's building cover under a package tier is a separate, insurer-specific sum insured that may overlap with or extend beyond what that mandatory scheme provides, and the two should not be assumed to be the same thing or to combine automatically.
The alternative accommodation cap — the lowest of three separate limits — is a detail that matters most in a serious claim, such as a fire that makes the home temporarily unliveable, and is easy to overlook when comparing headline sums insured between tiers.
What is not published on the product page
The specific list of the five complimentary HomeCare services, and the exact scope of "first loss protection," are described only at a summary level on the page reviewed for this article; the policy wording sets out precisely what each of these terms means and any conditions attached to them. Renovation and fixture cover under the custom plan is described as customisable without a published default sum insured, since it depends on what the buyer specifies.
What to check on any home insurance plan, not only this one
- Whether your building sum insured is realistic against actual rebuilding cost, not the property's market value, since these can differ substantially.
- Whether your contents sum insured reflects what it would cost to replace everything you own, particularly for higher-value items that may need separate declaration.
- What "all-risk" actually excludes, since even all-risk contents cover typically carries a list of specific exclusions in the policy wording.
- Whether the alternative accommodation cap would realistically cover a period of displacement given your actual rent levels, or whether a custom plan with a higher specified sum makes more sense than a package tier.
This article summarises what AIG's own published material states about Homes Advantage; it is not a claim that this plan is the best or cheapest home insurance option for any particular property or buyer.
The documents that actually govern
The product page is a summary. The Homes Advantage Policy Wording (and the separate Package Policy Wording, for buyers on a package tier) is the document that determines what is actually covered, including the precise scope of all-risk contents protection and the HomeCare services, and it takes precedence over the summary here or on the product page. Prices and sums insured are stated as at the date reviewed and can change — confirm current terms with AIG or a licensed advisor before relying on them.
Talk to an advisor
Choosing between a package tier and a custom plan, and sizing building and contents cover correctly for your specific property, is easier with someone who can check your numbers against the policy wording. A licensed advisor can do that before you buy. Find one through the portal's advisor directory, or compare current home insurance plans in our property comparison tool.
Sources
This content is educational information from a licensed advisor, not financial advice. Product details vary by insurer — verify specifics with an advisor.
