If you have recently refinanced or restructured your housing loan, or if you have obtained a new housing loan for part-share/transfer of ownership of the flat, it is essential to review your private insurance policy(s) to ensure that the policy(s) remains sufficient to cover the newly refinanced or restructured loan. If the current policy(s) you have used for Home Protection Scheme (HPS) exemption doesn't offer sufficient coverage for your newly refinanced or restructured loan, you will need to approach your insurer(s) to purchase additional policy(s) or apply for HPS.