Contractor and renovation insurance explained
Typical renovation insurance quotes in Singapore
What renovation insurance costs today for 7 contract values, at each liability limit, and what the HDB licence guarantee costs. Open a contract value for every option, what it covers and how to apply.
In short
On 12 Nov 2026, renovation insurance (contractor's all risks) in Singapore costs from S$273.00 once for a S$30,000 contract to S$872.00 for S$500,000, GST included, on Great American's published table. A contract over S$500,000 is quoted on enquiry.
Works cover by contract value
| Contract value | S$1,000,000 liability | S$1,500,000 liability | S$2,000,000 liability |
|---|---|---|---|
| S$30,000 | S$273.00 | S$327.00 | S$382.00 |
| S$50,000 | S$273.00 | S$327.00 | S$382.00 |
| S$100,000 | S$382.00 | S$436.00 | S$491.00 |
| S$150,000 | S$545.00 | S$600.00 | S$654.00 |
| S$250,000 | S$545.00 | S$600.00 | S$654.00 |
| S$300,000 | S$872.00 | S$927.00 | S$981.00 |
| S$500,000 | S$872.00 | S$927.00 | S$981.00 |
The HDB licence guarantee
HDB lists a renovation contractor in its Directory of Renovation Contractors only against a bank, finance or insurance guarantee for the listing period, and asks for a new one at each renewal. Income sells it online, once for 2 years, with no GST: S$250.00 for a S$5,000 guarantee or S$700.00 for a S$10,000 guarantee.
Every example is in one CSV file, updated daily. Neither Great American nor Income is one of our featured insurers for contractor and renovation insurance, so we rank neither. They sell different things, so they are never set against each other: Great American’s Renovation Protect insures the works and your liability on one contract, and Income’s licence guarantee is the guarantee HDB asks for to list a renovation contractor. Price your own contract.
How these prices are worked out
Great American’s prices are the premium table on its Renovation Protect proposal form (F.40302B (12/24)), the same figures as its pamphlet (5611-SGP (09/23)), GST included, read on 28 Oct 2026. Income’s are the table on its licence guarantee page (information as at 28 Jan 2026), GST-exempt, read on 28 Oct 2026. Great American's premium is paid once for the one contract; Income's once for the guarantee period. Nothing here is a live quote. Shenton Brokers is an insurance broker in Singapore. Every example is in a CSV file, updated daily.
Questions people ask
How much is renovation insurance in Singapore?
On Great American's published table, from S$273.00 once for a S$30,000 contract to S$872.00 for S$500,000, with S$1,000,000 of third-party liability, GST included. A higher liability limit costs more.
How is it priced?
Great American prices by the contract value, in four plans: Plan A to S$50,000, B to S$100,000, C to S$250,000, D to S$500,000, each at three liability limits (S$1,000,000, S$1,500,000 and S$2,000,000).
What is not covered?
It is for interior renovation, fit-out and reinstatement on one contract, with work of up to 9 months and a maintenance period of up to 12 months. Structural hacking or coring (unless a professional engineer designed it), work above 30 feet, exterior, civil and demolition work are outside it.
How much is the HDB licence guarantee?
At Income, S$250.00 for a S$5,000 guarantee and S$700.00 for a S$10,000 guarantee, paid once for the 2-year guarantee period, with no GST. HDB lists a renovation contractor in its Directory of Renovation Contractors only against a bank, finance or insurance guarantee for the listing period, and asks for a new one at each renewal.
Which insurers are priced here?
Great American's Renovation Protect, from the premium table on its proposal form, and Income's licence guarantee, from the table on its own site. Neither Great American nor Income is one of our featured insurers for contractor and renovation insurance, so we rank neither. They sell different things, so they are never set against each other: Great American’s Renovation Protect insures the works and your liability on one contract, and Income’s licence guarantee is the guarantee HDB asks for to list a renovation contractor.
How do I buy it?
Great American sells Renovation Protect through intermediaries: Apply Now opens its proposal form on our site, filled in from your answers, and we place the cover; you send it with the contract’s letter of award or purchase order. Income sells its licence guarantee on its own site: Buy Now takes you there with your name or UEN and HDB’s letter about your listing or renewal, and Income issues the guarantee at once. Ask Shenton to arrange sends us the plan you picked and we arrange it for you.