What insurance does homeowners need?

With existing property loan from:

1. HDB: HDB Fire Insurance is compulsory. A plan covering home contents and renovations should be purchased on top of this.
2. Banks: Usually, fire insurance is packaged with the loan. A plan covering home contents and renovations should be purchased on top of this. 

In the absence of a property loan, it is recommended that all homeowners buy a fire insurance and home contents and renovation insurance.