What are the different types of car insurance available in Singapore?
There are three main categories of auto insurance. Each category provides different coverage, thus impacting your right to claim should an accident occur:
(Most car owners in Singapore opt for the Comprehensive Cover, as it gives the widest protection)
Third Party Only Coverage, which covers:
- Death or injury to other parties
- Damage to other parties’ property
Third Party, fire and theft Coverage, which covers:
- Death or injury to other parties
- Damage to other parties’ property
- Fire damage to, or theft of, your vehicle
Comprehensive Coverage, which covers:
- Death or injury to other parties
- Damage to other parties’ property
- Fire damage to, or theft of, your vehicle
- Accidental damage to your vehicle
- Personal accident cover (for private cars only)
- Medical expenses (for private cars only)
Optional Benefits for Comprehensive Policies
(which may be subject to payment of additional premium)
- Windscreen damage
- Damage arising from riot, strike and civil commotion
- Damage arising from flood and windstorm
- Liability of passengers for acts of negligence
- Personal accident benefits for passengers
- Additional excess
- No-Claim Discount protection (for private cars only)
These Optional Benefits may seem like icing on the cake, but you may find them important nevertheless. Many reputable insurers include these benefits into their coverage while others don’t. Usually the VERY cheapest ones are just bare-bones in their coverage and thus do not include these.
If you feel that these optional benefits are important to you, choosing these bare-minimum budget quotes may do you no good. You may find that when the premiums for (let’s say) windscreen damage is added to their basic coverage, they’re actually more expensive than their competitors.
Of course, paying a premium for “brand names” may leave you with the shorter end of the stick in view of cost over benefit. And some motor car insurance are designed to cream “fat-cat” car owners. Avoid these. Do your due diligence of studying the quotes of different companies. This is where MotorInsuranceSingapore.com comes into the picture and it make things really easy for you.
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