Car Insurance Coverage
Car insurance coverage in Singapore can vary between car insurers; some may offer similar car insurance coverage with different terms. It is safe to assume that each car insurance companies have its own way of specifying each car insurance policies; for instance, different policies specify the circumstances under which each item covered.
Car Insurance Coverage Levels
A vehicle insurance may cover the following items:
- The Insured Party – If the insured purchased a comprehensive coverage; the car insurance company got the insured medical expenses resulting from a traffic accident covered.
- Property Damage Caused By The Insured – Usually, car insurance coverage for property damage has a limit of $5,000,000.
- The Insured Vehicle – With the comprehensive coverage; it covers the insured vehicle for repairs. Car insurer may charge higher car insurance premiums if the insured wants to choose his own preferred repair workshop. However, if the vehicle is beyond repair or stolen, most car insurer covers the vehicle for total-loss. This is usually the market value of the vehicle at the time of loss.
- Third Parties – The third-party coverage covers damages to the third-party, his property, and vehicles. Some car insurer may impose a coverage limited on death or injury to the third party while others may have no limitations on the amount covered.
- Third Party, Fire And Theft – In addition to the coverage covered under third-party cover, the third-party, fire and theft car insurance covers the vehicle for damage caused by theft and fire.
- No Fault Auto Insurance – As its name suggest, a person covered under the no-fault car insurance coverage can receive medical expenses claims regardless of who caused the traffic accident.
- Daily Transport Allowance – Car insurers may cover the cost to rent a vehicle if your vehicle is damaged. However, most car insurance companies in Singapore have a limited amount of what is claimable.
- Towing Coverage - The cost to tow your vehicle to a repair facility. May have a maximum claimable limit.
- Uninsured And Underinsured Motorist Coverage – Covers accidents involving uninsured motorists. However, in Singapore, if an individual drive without a valid car insurance, he may find with trouble with the law.
- Excess Waiver Coverage – A car owner may pay extra to obtain the excess waiver coverage which removes the need for payment if an accident occurs.
Find The Best Car Insurance Coverage
The best car insurance coverage does not exist; however, the best car insurance coverage tailored to your needs exists. Let SingaporeCarInsurance.org help you with finding the car insurance coverage which best suit your needs today.