Car insurance schemes in Singapore

It is compulsory for every car in Singapore to be covered by motor insurance. As each of the motor insurance package is only valid for a year, you will have to renew it by paying a new premium after each year.

Below are 3 types of car insurance cover available:

- Third Party Cover
- Third Party, Fire and Theft
- Comprehensive Cover

Third Party Cover
This policy covers the driver's legal liability for damage to property belonging to other persons such as cars; fences; street lighting etc. It also includes the driver's legal liability for death of or bodily injury to passengers and third parties caused by his negligence. This is normally the cheapest car insurance policy as it provides the least coverage.

Third Party, Fire and Theft
In addition to the cover provided by the "Third Party" cover, this policy is extended include accidental loss or damage by fire and/or theft of the vehicle. This is slightly more expensive as compared with the third party policy. This car insurance is complusory for owners who are still financing their cars, which are more than 10 years old.

Comprehensive Cover

This offers the widest coverage and includes all the abovementioned covers plus accidental damage to the insured's own vehicle, accessories and spare parts arising in Singapore, West Malaysia and that part of Thailand within 50 miles of the border between Thailand and West Malaysia. The additional cover provides personal accident benefits for the driver and medical expenses arising from the motor accident. Although the term "comprehensive" is used, the standard comprehensive cover does not include losses arising from riots, strikes and civil commotions, floods and windstorms. It also does not cover personal accident benefits for passengers and liability of passengers for acts of negligence. Comprehensive insurance cover is not available for cars which are more than 10 years old. Owners are required to get comprehensive insurance cover if their cars are less than 10 years old and are still under financing.

* Note that third party here shall mean the victim in the accident.

Third Party Insurance	Third Party, Fire and Theft Insurance	Comprehensive Insurance	Optional benefits for comprehensive policies (may be subject to payment of additional premium)
Death or injury of a third party, including liability towards passengers	Death or injury of a third party, including liability towards passengers	Death or injury of a third party, including liability towards passengers	Windscreen damage
Damage to third party's property	Damage to third party's property	Damage to third party's property	Damage arising from riot, strike and civil commotion
	Indemnity to the insured for loss or damage arising from fire or theft	Indemnity to the insured for loss or damage to arising from fire or theft	Damage arising from flood and windstorm
		Medical expenses	Liability of passengers for acts of negligence
		Personal accident benefits	Personal accident benefits for passengers
			Additional excess
			No-Claim Discount protection (private car only)

Before making any claims:
If the total repair costs incurred is likely to be lower than the current discounts/rebates on your premium (also known as No Claim Discount), it is advisable not to claim the repair cost from your car insurance. You are better off paying for the repairs yourself in the long run.

Refer to the following table to know how much discount on the premium you get to enjoy after you have made any claims.

Current No Claim Discount	Reduced No Claim Discount
	1 Claim Made	> 2 Claims Made
50%	20%	0%
40%	10%	0%
30-10%	0%	0%

ORIGINAL SOURCE
Related Articles:
Independent Damage Assessment Centres
What determines motor insurance premium
Car insurance terms - What is NCD, excess & named driver?
What to do in case of car accident
Motor Insurance Companies

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