Most of us, be it homeowners or businesses think the most a fire can do to our belongings and properties are just destroying it and end-of-story.
UPDATE: 23 July 2019 – another fire caused by charging batteries of PMD
SINGAPORE – A personal mobility device (PMD) left to charge in an Ang Mo Kio flat early on Monday (July 22) exploded in the afternoon, causing a fire that destroyed the flat and damaged two neighbouring units.
Home contents Fire Insurance does not cover unsupervised charging of PMD batteries
Please note that many insurers, even when you buy home contents insurance does not cover your home due to e-scooter charging overnight with no supervision.
In this case, the adults left the e-scooter to charge and they left the home without anyone, the fire insurance would NOT cover this case due to unsupervised charging of PMD (personal mobility device)
It is a lot more damaging than that (you won’t understand the weeks or months disruption until you encountered one)
And if a fire happens to a neighbour, you may think its no big deal to me!
Fire affects everyone, even those unburnt
A FIRE, even only on a neighbour and not on your site, can be very disruptive to your business and life.
The aftermaths of a fire can be extremely costly to a neighbourhood.
You now face blacked surroundings, and you are also left with severe waterlogging (from firefighting activities) and cleanup work to be done. Your businesses cannot resume without all these works.
And even after restorative works are completed, your business may not be continuing as per normal:- your usual customers may shun you.
Is Fire insurance more expensive?
A cheap yearly annual fire insurance or business insurance or the risks of loss of capital, loss of income and painful restorative payments.
A fire gutted Ang Mo Kio shophouses on 5th July 2019 and the damage was painful. Not only that, patrons and customers stayed away from the area.
Taken from Straits Times https://www.straitstimes.com/singapore/shopkeepers-bemoan-loss-of-business-after-ang-mo-kio-fire-injured-scdf-officer-discharged
The fire, which has affected the supply of power and electricity to the block, has resulted in Mr Leong losing about 50 per cent of his usual business.
“We are safe and we are lucky we can still open, but there is no phone line here, which means my customers cannot make bookings and can only pay with cash. Even when they walk in, they do not want to stay because there is no Wi-Fi,” he said.
Mr Leong is not alone, as other shopkeepers and employees also bemoaned the lack of Internet service and for some, electricity.
Fire is bad for homeowners
Thankfully, if a fire occurred and your family and you are safe, bless you!
Roughly 100 residents were affected by a single household fire on 24 June 2019.
In a video posted by Facebook user Dahlia SenSasi, thick black smoke is seen billowing out of the fourth-floor corridor as at least six firefighters break into the corner unit where the fire is raging.
People can also be seen knocking on doors on the other floors to alert residents of the incident. A total of 100 residents were evacuated by police, said SCDF.
However, the bad news:- a fire engulfed your personal belongings, your important memory, and sentimental stuff, there are more….
You have to spend more money to restore your structure, your furnishing and redo furnitures for your home.
Damages caused by neighbour’s fire in HDB, Condo or Landed
If you are a neighbour, not only do you have to feel heartpain for your neighbour’s poor stroke of luck, you probably have to fork out plenty of money to clean up your home. If you are above or near him, you have to repaint the walls, throw away furnishing, clothes, furnitures that are damaged with bad smell and smoke.
If you are below him, you will have to deal with severe water damage.
If you are cautious about money and financials, you will realise something:- a fire insurance is the best thing you can to protect your finances.
Don’t just buy fire insurance, get a proper business or home coverage at the best value-for-money, don’t overpay for coverage you may not need. Do not over pay for your insurance cover.