In Singapore, the law only requires car owners to insure against legal liability for injury to 3rd parties. Therefore, a policy covering 3rd party liability will sufficiently meet drivers needs. However as accident happens, wider protection coverage is recommended for motorists. This allows them to be protected against accidental damage to their own cars.

In Singapore, there are 3 main types of motorcar insurance:

• Third Party3rd party policy covers death of, or injury to, other parties and damage to other people’s property. Under the Singapore law, the minimum requirement is that the policy provides cover for causing death of, or personal injury to, other parties.
• Third Party, Fire and TheftBesides the minimum 3rd party coverage, there is a 3rd party, fire and theft policy. This type of policy further allows you to make a claim should your vehicle be stolen or damaged by fire.
• Comprehensive
• This type of policy provides cover for personal accident and accidental damage to your vehicle and windscreen replacement on top of protection against fire and theft, as well as third party death, injuries and property damage.

This policy type tends to cost more than other types of policies due to its comprehensive coverage. Besides the standard options, drivers could/may add on optional benefits, such as coverage on additional accessories by paying a higher premium.

Need help on which insurance type to purchase? Why not submit a FREE motorcar insurance quote today.

Read More: Types Of Motorcar Insurance