Finding the cheapest car insurance singapore is important, it is vital to shop and obtain quotes from several insurance companies. You may visit insurance companies online using a comparison tool or even contacting the agent directly. Before wondering how much car insurance costs in Singapore, you may look for auto insurance with guaranteed cost savings.
You can also customize a car insurance policy according to your needs. You may get a quotation!
Lowest car insurance in SG
Clients are offered the cheapest car insurance in SG with the best price. You may avail of the NCD (No-Claim Discount), which is given to drivers if there’s no claim from a policy for one year in an insurance company. It lowers the cost of the premium getting paid by the following year.
How to qualify for the discount?
Good news, if you have held NCD50 for 5 consecutive years, then you qualified for the No-Claim Discount60. Plus, there is an extra 10% discount on the car insurance base premium.
What does car insurance cover in Singapore?
Car insurance is mandatory in SG. On the Land Transport Authority’s OneMotoring website, it is prohibited to employ a car without valid insurance coverage in SG. At a minimum, car insurance should cover third-party liability for the following:
- bodily injury
Aside from being a legal requirement, car insurance is worth buying because cars are expensive. When buying complete car insurance, check for the following coverages:
- Third-party liability. It covers damages to victims of the accident and the bare minimum coverages that are required by the law.
- Fire and theft. It covers the loss or damages arising from fire or theft. Comprehensive plans may cover some scenarios.
- Workshop repairs. It covers repair prices for accidental damage. You need to pay the standard amount before the insurer will top up the rest. Check if you can choose a repair workshop if they have the intended list of authorized repairers written on the car insurance contract.
- Engine and gearbox warranty. There is an exclusivity and this is an optional add-on that allows claiming for the car transmission or engine breakdowns that cost up to a limited amount.
- Sunproof and solar film, windshield. These are fragile parts of a car that must be insured. The excess is lower than that of the workshop repairs.
- Roadside assistance. Some insurers will offer roadside assistance services, which include towing.
- Personal accident and medical expenses. Car insurance reimburses small medical bills that result from a car accident or any payout in case of death or disability.
It makes sense to get comprehensive insurance protecting from accidental car repair prices.