Insurance Tips

Types of Motorcycle Insurances in Singapore

Types of motorcycle insurances in Singapore can be categorised into three types. These types of insurances are common amongst the providers in Singapore.

  • Comprehensive motorcycle Insurance
  • Third Party, Fire and Theft motorcycle Insurance
  • Third Party only motorcycle insurance.

Various companies pack these insurance types with different marketing packages, however the basic idea of these types remain the same.

Comprehensive Motorcycle Insurance

Comprehensive is the most complete cover and protects the mosts. In includes protections from your own crashes, usually vandalism, towing following an accident. Comprehensive covers also cover you from damages that might happen to your motorbike due to natural acts like floods and disasters. Comprehensive – as the name goes covers all benefits on Third party damages as well as damages occurring from fire and theft of the motorcycle.

Insurers may offer more optional benefits on comprehensive cover- for e.g, your workshop choice, NCD Protection etc.

Third Party Fire and Theft Motorcycle Insurance

Third Party, Fire and Theft covers are the middle tier covers and is a cheaper option for buyers who do not want full protection. However, these cover types, protect the policy owner from damages arising to Third Party and includes damages that may occur due to fire and theft of your motorcycle.

One should note, usually if your motorcycle is 10 to 15 years old, insurance companies do not offer Comprehensive Covers. Third Party, Fire and Theft (TPFT) Covers are the best available choices.

Third Party Only Motorcycle insurance

Third party only or TPO Covers meet the minimum legal requirements for a motorcycle insurance in Singapore.  These are usually the cheapest and popular option for motorcycle insurance. Quite descriptively as the name states, these policies only cover damages that may occur to Third Party due to your usage of the motorcycle. With third party only insurance covers- you are reponsible to cover costs towards repair of your own motorcycle and it is not covered from fire, theft, vandalism etc.