Types of Car Insurance in Singapore
When choosing car insurance in Singapore, it’s important to understand the three main types of coverage. Each category offers different levels of protection, affecting your right to claim in case of an accident.
🚗 Most car owners in Singapore opt for Comprehensive Cover, as it provides the best protection.
1️⃣ Third Party Only (TPO) Coverage
✅ Covers:
- Death or injury to third parties
- Damage to third-party property
👉 Best for: Owners of older, fully paid-up vehicles who want the lowest-cost insurance option.
2️⃣ Third Party, Fire & Theft (TPFT) Coverage
✅ Covers everything in TPO, plus:
- Fire damage to your vehicle
- Theft of your vehicle
👉 Best for: Those looking for extra protection against fire or theft, especially for high-risk areas.
3️⃣ Comprehensive Coverage
✅ Covers everything in TPFT, plus:
- Accidental damage to your vehicle
- Personal accident cover (for private cars)
- Medical expenses (for private cars)
👉 Best for: Most car owners, as it provides the highest level of protection.
🔹 Optional Benefits for Comprehensive Policies
(Available at an additional premium)
- Windscreen damage
- Damage due to riot, strike, or civil commotion
- Damage caused by flood or windstorm
- Passenger liability for negligence
- Personal accident benefits for passengers
- Additional excess options
- No-Claim Discount (NCD) protection (for private cars only)
These add-ons can significantly enhance your coverage. Some reputable insurers may include certain benefits in their standard plans, while others require you to add them as Riders. Keep in mind that adding optional benefits may increase your total insurance premium.
Important Notes:
✔ Third Party Only (TPO) insurance is only available if your car is fully paid off.
✔ If your car is under a hire purchase loan, you must seek approval from the lender before switching to Third Party, Fire & Theft (TPFT) insurance.
🔹 Need help choosing the right car insurance? Compare and save with the best car insurance quotes at OneMotorSg.com today!
