When confronted with hundreds of insurance policies for the maid in Singapore, finding out which one would match you and the needs of your international domestic worker can be daunting. This is especially true because introducing a new person into your home poses new threats that are hard to anticipate. Although it’s a smart idea to choose based on your budget, you should always remember what you want to protect and the medical needs of your midwife. Below there is a list of items to remember before buying the cheapest maid insurance Singapore for the maid.
How to Choose Maid Insurance Based on Cost
Maid insurance at HLAS is divided into three different rates, depending on the quality and extent of coverage. This can encourage the differentiation of which insurance policy suits your budget. Basic plans on average offer fewer coverage and a narrower variety of coverage choices whereas mid- and top-level plans provide higher rates of security. But a cheaper option does not automatically mean the program is going to be a good match for everybody.
Basic Maid Insurance
Basic plans cost an average of $289.30 and can be a good choice for those on a tight budget and who don’t need comprehensive cover. Although simple plans tend to provide less coverage than their more robust counterparts with a narrower set of benefits, you can still find a great value match. If you just start with domestic workers and have a lot of other expenses, simple plans can be a great jump-off point for you. Also, simple plans are a nice choice if you have a track record of zero to a few claim numbers and would like to save some cash on your next scheme.
Medium Maid Insurance
Mid-tier plans can be the cheapest maid insurance Singapore for cost-conscious individuals still seeking a wider range of coverage. Mid-tier plans, also, continue to offer the best value per dollar of premium paid out across the 3 tiers of coverage. A standard mid-tier package would cost some S$325.21.
Top Maid Insurance
For customers wanting to provide the most robust package, top-tier policies will have broad coverage for you. Such policies will offer a wide variety of coverage and high payouts if you can afford them, alleviating risk issues when recruiting a new maid. Such policies have a high degree of coverage for such issues as third-party responsibility, hospitalization, and fraud compensation.
How to Choose Maid Insurance Based on Coverage
Maid insurance plans vary by providing cover against a range of alternatives. Which range from extra medical benefits such as hospital treatment and rehabilitation costs to benefits of liability such as the defense from litigation and theft. If you can predict what kind of insurance you’re going to need, you can find a program that fits better for your lifestyle, because it saves you the most out of pocket costs.
Health care is an important consideration to consider when reviewing insurance policies for midwives because as your employer you would be responsible for covering all the medical expenses of your midwifery. Since each policy needs to have total compensation of S$60,000 in personal injury costs and a total of S$15,000 in hospitalization costs, insurance providers differentiate themselves by offering alternative types of medical treatment.
If the maid suffers from psychiatric problems or gets sick easily, tailoring your strategy to suit your maid’s medical needs will save you a lot out of pocket expenses and it is considered to be the cheapest maid insurance Singapore. When you find yourself spending too much on out-of-pocket medical costs, concentrate on plans that offer more coverage for your safety. If you live in an accident-prone setting such as a high-rise building, you should opt for extensive medical coverage; while your foreign domestic worker will always be safe, there will be occasions when your maid finds herself in a dangerous situation.
If your main concern is to protect your family and your valuables, then you will find policies that give high rates of theft and litigation protection. The most popular form of coverage of liability is third-party coverage of liability which is insurance against litigation in case your maid inadvertently hurts someone or their property. If there is going to be a high degree of contact during her duties between your maid and strangers, this liability option will protect you against potential legal accidents. The liability advantage of the domestic helper may be a valuable defense to bear in mind if your maid is responsible for young children or elderly people who could be vulnerable to possible abuse.
There is a great deal of responsibility as an employer to ensure the well-being of everybody and it can be difficult to foresee what kind of threats you can face in the future. While choosing the cheapest policy can be tempting, choosing a policy that is personalized to your needs will save you tons of out-of-pocket expenses. While no policy can meet your needs with the perfect level of coverage, most policies provided by the HLAS are enough as their coverage ensures that you and your maid are protected.