Typical renovation insurance quotes in Singapore
HDB renovation contractor licence guarantee of S$10,000: price
What the HDB renovation contractor licence guarantee costs today, from Income's own published table, paid once for the guarantee period, with no GST.
In short
On 12 Nov 2026, Income's HDB renovation contractor licence guarantee for a S$10,000 guaranteed sum costs S$700.00 once, for the 2-year guarantee period, with no GST (S$5,000: S$250.00).
- S$5,000 guaranteed sum: S$250.00 once, for 2 years.
- S$10,000 guaranteed sum: S$700.00 once, for 2 years.
Price your own contract on our contractor and renovation page: it asks the contract value of the job.
The guarantee, by guaranteed sum
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. Pick the sum HDB's letter names.
| Insurer | Once, for the period | Guaranteed sum to HDB | Guarantee period | Financial assessment or guarantors |
|---|---|---|---|---|
| IncomeRenovation Contractor Licence Guarantee, S$5,000Buy Now | S$250.00 | S$5,000 | 2 years | None, issued at once |
| IncomeRenovation Contractor Licence Guarantee, S$10,000Buy Now | S$700.00 | S$10,000 | 2 years | None, issued at once |
Cover for the job itself is separate
The guarantee does not insure the works or your liability on a job. For that you need contractor's all risks insurance, priced by the contract value: S$30,000 · S$50,000 · S$100,000 · S$150,000 · S$250,000 · S$300,000 · S$500,000.
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.
What would change the price
| Change | Lowest price | Difference |
|---|---|---|
| A S$5,000 guaranteed sumInstead of S$10,000, when HDB’s letter names it. | S$250.00 | −S$450.00 |
Why it costs this
For a renovation contractor whose HDB letter asks for a S$10,000 licence guarantee to list it in the Directory of Renovation Contractors:
- Income prints one price for each guaranteed sum, for a 2-year guarantee period; nothing about the contractor changes it, and Income asks for no financial assessment or guarantors.
- The premium is paid once and is GST-exempt. The guarantee cannot be back-dated, and there is no refund once the period has started.
- A three-year guarantee, or another sum, is quoted by Income on enquiry.
Price history
For a renovation contractor whose HDB letter asks for a S$10,000 licence guarantee to list it in the Directory of Renovation Contractors: Since 10 Nov 2026 the lowest price is unchanged, and Income has been cheapest throughout.
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. This page's figures and every example are in CSV files, updated daily.
Every example · Compare contractor and renovation insurance for your own contract.
Questions people ask
How much is a S$10,000 HDB renovation contractor licence guarantee?
At Income, S$700.00 once, for 2 years, with no GST. A S$5,000 guarantee is S$250.00.
Why does HDB ask for it?
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 sum do I need?
The one HDB’s letter about your listing or renewal names.
Is it insurance against damage?
No. It is a guarantee to HDB, not a policy against damage. For damage to the works and your liability on a job, you need contractor’s all risks insurance, such as Great American’s Renovation Protect.
Has the price changed?
Since 10 Nov 2026 the lowest price is unchanged, and Income has been cheapest throughout.
How do I buy it?
On Income’s own site, with your name or UEN and HDB’s letter: Buy Now takes you there, and Income issues the guarantee at once. Ask Shenton to arrange sends us the sum you picked and we arrange it for you.