Car Insurance is an insurance towards a motor car and its primary use to provide financial protection against physical damages or bodily injuries or liabilities arising from accidents. These insurances may also offer protection towards theft or damages arising from other events that makes your car unusable.
Car insurance providers in Singapore are quite a handy in number. They offer various types of covers- Comprehensive, Third Party and Theft or Third Party only. The differences between various types of car insurances in Singapore here. In Singapore, if your car is financed , these institutes might require you to buy an Comprehensive cover only. Also, good to know – some insurers do not provide Comprehensive covers to cars that are 10 or 15 years old.
In Singapore, one gets- Certificate of Merit (COM) from the Traffic Police for good driving and this entitles you to a discount over and above your No Claims Discount. This is your Offence Free Discount. More details of Certificate of Merit here.
The prominent car insurance providers in Singapore are as below.