| While searching for car insurance in Singapore, you | | | | comprehensive policy. This is almost always |
| will encounter different coverage options that | | | | without exception. The reason for this is to |
| may confuse you. However motor insurance is | | | | ensure that car owners maintain financial |
| not complicated as long as you know the | | | | responsibility to the finance company in the event |
| essentials. In Singapore, there are 3 types of auto | | | | of a significant (or total) loss. |
| insurance coverage you can choose from. They | | | | Similarly, insurance companies in Singapore will also |
| are the comprehensive coverage, the third-party | | | | require you to furnish them with evidence that |
| fire & theft and the third-party only policy. | | | | your car has been fully paid up or evidence that |
| As we get deeper into each of these types of | | | | your financial institution has permitted you to |
| car insurance, their characteristics will be clearer | | | | insure your vehicle under third-party only |
| to you. | | | | coverage before the third-party only policy can |
| 1. Comprehensive coverage. This gives the | | | | be issued to you. |
| broadest protection for vehicle owners in | | | | On top of the basic coverage, there are several |
| Singapore. It covers the entire scope of the | | | | rider insurance under the comprehensive |
| third-party fire & theft insurance, and also | | | | coverage that can cater to your needs. Some of |
| pays for the insured's liabilities. Some of these | | | | these include the no-claim discount (NCD) |
| liabilities include bodily injury, death and property | | | | protector, the additional personal insurance cover |
| damage to a third-party. The comprehensive | | | | as well as the second driver coverage. There are |
| coverage also insures your own car against | | | | of course many other options that can be added |
| damages. | | | | to your original policy. The above 3 are just |
| 2. Third-party fire and theft. This kind of policy | | | | what's most popular. |
| covers the full scope of the third-party only | | | | These information are essentials that you have to |
| motor insurance as well as damages arising from | | | | get acquainted with in order to get a suitable |
| fire and/or theft. Therefore the insurance | | | | motor insurance for your vehicle. It can also |
| coverage will also include compensation for death | | | | protect you from unprofessional agents whose |
| and bodily injuries as well as property damage. | | | | sole intention is to get your business by providing |
| 3. Third-party only. This insurance coverage | | | | you with false, misleading information. |
| compensates only for death or bodily injuries to | | | | Finally, before you put your signature on the |
| the other party. It also pays for damages to | | | | dotted line, remember to check that your |
| property that belongs to a third-party. The | | | | requested type of insurance and its scope of |
| pay-out from your insurance policy will only take | | | | coverage is indeed what you’re signing for. |
| effect if it's proven that you're the driver at fault. | | | | When in doubt, always ask a car insurance |
| However not every car owner is able to insure | | | | professional to explain to you the terms that |
| their car under third-party only coverage. If your | | | | you're still grabbling with so you know what you |
| car is bought under hire-purchase, your financial | | | | are purchasing. |
| institution will require you to insure your car under | | | | |