Do you know that your motor insurance also provides you with personal accident benefits? The insurer will pay you a lump sum of money for accidental death or bodily injuries if the accident is in direct connection with your vehicle or while traveling in or mounting/dismounting from your private motor car.

Generally the compensation amount is as follows although it may vary with different insurers:

a) “Death” – S$20,000
b) “Total and irrecoverable loss of sight in both eyes” – S$20,000
c) “Total loss by physical severance at or above the wrist or ankle of both hands or both feet or one hand together with one foot” – S$20,000
d) “Total loss by physical severance at or above the wrist or ankle of one hand or one foot together with the total and irrecoverable loss of all sight in one eye” – S$20,000
e) “Total and irrecoverable loss of all sight in one eye” – S$10,000
f) “Total loss by physical severance at or above the wrist or ankle of one hand or one foot” – S$10,000

Note that you’ll be compensated under only ONE of the above categories. The claim is usually limited to ONE accident during the (one-year) period of insurance you have with your insurer.

On top of the above coverage, passengers of your vehicle are also covered up to half of the amount for each category stated above.

As with all other insurance coverage, the insurer will not pay under certain circumstances. These include intentional, self-inflicted injury, suicide (even attempted suicide), physical (or mental) defect/infirmity, and drunk driving or driving under the influence of drugs.

Click Here to go back to Motor Insurance Singapore Home

This is the most common car insurance policy that vehicle owners have. Its coverage is also the broadest. Other than insuring liability for third-party’s bodily injury (or death) and property damage, this type of car insurance also covers damage to the insured’s own vehicle.

There are also other benefits (usually) included in this type of policy – like medical expenses, personal accident benefit or car towing services.

Click Here to go back to Motor Insurance Singapore Home

Readers who are interested in the above article may also be interested in the sponsored links below:

Car Insurance Terms That Can Save You Some Money

In Singapore, knowing these motor car insurance terms may save you a couple of hundred dollars as you are shopping for an auto insurance package for your vehicle.

The idea is to know what you need and what you don’t. For example, you may not need a courtesy car or towing/roadside assistance. Adding these into your coverage may cost you a little more than you’ll need to pay for.

So get familiar with these terms now:

Motor Premiums
This is the amount ($) you pay to insure your car from eventualities. Ensure your premiums commensurate with your risk profile. Always make sure that you’re not over-paying for your car insurance (or motorcycle insurance).

Excess Amount (aka Deductible)
Find out the amount that you might be required to bear when a claim is made. Eg. If your claims amount to $2,000 and the deductible is $600, you’ll have to bear $600 while the rest will come from the insurer’s pocket.

Every insurer will impose excess on policies – the higher the excess, the lower the premium charged and vice versa. And each insurer will state their excess amount when they make their offer (quote) to motorists.

No Claim Discount (aka No Claim Bonus / No Claim Entitlement)
No Claim Discount (NCD) reduces your car insurance premium significantly. If you have an NCD of 20%, you’re given a 20% discount of the premiums that you’re supposed to pay. You are entitled to NCD on renewal if you have not made a claim for a year. This is how NCD is calculated for subsequent years:

If a claim is made during a policy year while you are still enjoying NCD, the NCD will be reduced at the next policy renewal. The reduction of NCD is computed as follows:

Windscreen Damage
Many insurers provide you with windscreen cover (free of charge) but apply an excess of $100 for each claim. (check insurers’ policy)

Personal Accident Cover
Some insurers offers personal accident covers for you and your passengers as part of their insurance plan. (This may or may not be necessary for you, depending on whether you have an existing personal accident coverage)

Repair Options
Restrictions on repair workshops and new part replacement applies. Usually cheaper premium policy will tend to have more restrictions. This contributes to the advice that the cheapest motor car insurance may not be the best.

Towing/Roadside Assistance
Some insurers provide towing and roadside assistance in their plan.

Courtesy Car
Some insurers provide a courtesy car while your vehicle is under repair.

Click Here to go back to Motor Insurance Singapore Home

Readers who are interested in the above article may also be interested in the sponsored links below:

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.

Click Here to go back to Motor Insurance Singapore Home

Readers who are interested in the above article may also be interested in the sponsored links below: