Understanding Car Insurance Cover by Hellen Ismail
Did you know that it is unlawful for any person in Singapore to drive a car without car insurance coverage? An automobile insurance coverage right can help protect your legal responsibility for injuries resulting from third parties.
While an insurance policy that covers damage to third parties will be sufficient to meet the statutory and regulatory requirements, most people opt for a wider coverage to help protect them in an event that they get into an accident.
There are three main types of auto insurance coverage offered in Singapore. These are:
i. The third party cover - This covers legal liability arising from any third party injury or death in an accident. This should also cover damage to property. This is the minimum coverage required by Singapore law, and this excludes losses due to theft or damage to your own car.
ii. Third party, fire and theft - On the top of the cover of a third, this type of policy also covers your vehicle if it is damaged heavily or stolen.
iii. Comprehensive Coverage - This type of insurance policy can provide third party fire and theft protection, while protecting you and your vehicle.
Most cars in Singapore
