Car insurance coverage Singapore —
Latest Complete Guide to Car Insurance in Singapore
As a car owner in Singapore, it's crucial to protect your investment and ensure your peace of mind on the road by having the right insurance coverage. Understanding the types of insurance available and their benefits can help you make informed decisions when purchasing a vehicle. At Gingerbread Auto, we're here to guide you through the process and help you find the perfect insurance solutions tailored to your needs.
Which car Insurance is the best to Consider :
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Comprehensive car insurance provides the most extensive coverage, including protection against accidents, theft, fire, and third-party liabilities. With comprehensive coverage, you can drive with confidence knowing that you're financially protected in various scenarios.
In simple words, Comprehensive car insurance means that you are able to claim damages on your own car, after you have paid the excess.
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TPFT insurance offers coverage for third-party liabilities, as well as protection against fire damage and theft of your vehicle. This option provides a balance between affordability and added protection compared to TPO insurance.
In simple words, TPFT allows you to claim for your own car only if it is damaged by fire or stolen. Otherwise, only the other parties involved in an accident can claim your insurance to repair their vehicles.
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Third-Party Only (TPO) Insurance: Third-party only insurance is the minimum legal requirement for car owners in Singapore. It covers damages and injuries caused to third parties in accidents but does not provide coverage for your vehicle. While TPO insurance is more affordable, it's essential to assess your risk tolerance and consider additional coverage options for comprehensive protection.
In simple words, TPO does not cover for damage to your own car, but only the damage for other cars in an accident.
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Personal accident insurance provides coverage for medical expenses and compensation in the event of injuries or death resulting from a car accident. It's an important supplement to your car insurance policy to ensure that you and your passengers are adequately protected.
Personal accident insurance does not typically come with your car insurance, and is a rider or add-on to existing policies to cover you.
Insurance FAQ
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Yes, many insurers offer discounts for factors such as safe driving records, installation of security devices, and bundling multiple insurance policies. Our team can help you explore available discounts to maximize your savings.
The most common car insurance discount is called the No Claims Discount (NCD). Basically, for every year that you renew your car insurance policy without claims, your NCD would go up by 10%, to a maximum of 50% (or 60% for some insurers) -
Yes, we offer comprehensive insurance solutions through our trusted insurance partners. Our team can assist you in comparing options, obtaining quotes, and securing the best coverage for your vehicle.
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When selecting insurance coverage, consider factors such as your budget, driving habits, and the value of your vehicle. Our experienced insurance specialists can help you assess your needs and customize a policy that meets your requirements.
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Yes, car insurance is mandatory for all vehicles registered in Singapore. Third-party only (TPO) insurance is the minimum legal requirement, but comprehensive coverage is highly recommended for added protection.
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Absolutely! We offer flexible insurance solutions that allow you to customize your policy with additional coverage options such as roadside assistance, windscreen coverage, and loss of use benefits. Our insurance specialists will work with you to tailor a policy that meets your specific needs.
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As a guide, your NCD will be kept only if you owned a car within the last 18 months. However, our experienced team may be able to “rescue” your NCD even if you have not driven for many years.
Contact us for specific advice and we will do our best to help.