Who says insurance is not mandatory in Singapore? Not like many other states, motor insurance is not obligatory to all vehicle owners. It is up to the owner, whether to purchase a motor insurance policy or not. It is the vehicle owner’s protection and not to the other party.

You may not need the insurance’s benefits as of now, but sooner or later, you will be needing them. If you are still looking for a motor insurance in Singapore, G&M will be able to help you through process. Do not hestitate to contact them today.

Motor insurance in Singapore

Motor insurance protects you against the financial losses or damages that possibly arise from a motor accident. It covers any other damage or loss that you may be suffering in a motor accident. It is against Singapore law to drive a motor vehicle with no valid insurance policy covering the third-party bodily injury. Motor insurance makes good sense, it gives protection against the financial losses or damages that arise from a motor accident.

Motor insurance covers you for a personal injury caused to third parties. It can cover the costs if you damage the other party’s property.

If you are still looking for a motor insurance in Singapore, G&M will be able to help you through process. Do not hestitate to contact them today.

Purchase a motor insurance policy

A motor insurance policy imposes an excess that is the cost you require in bearing in the situation of a claim made against the policy. In general, the more risk the insurer will carry the higher the excess will be. There are common motor insurance packages available to choose from and how to select suitable for you.

The three levels covered by the motor insurance policy are:

  • Third-party. It covers the following:
    • injury or death to other parties
    • damage to the other parties’ property.
  • Third-party, fire and theft. It covers the following:
    • injury or damage to the other parties
    • damage to the other parties’ property
    • theft of or fire damage to your vehicle
  • Comprehensive. It covers the following:
    • injury or death to other parties
    • damage to the other parties’ property
    • theft of or fire damage to your vehicle
    • accidental damage to the vehicle
    • Damage arousing from civil commotion, riot, and strike
    • Windscreen damage
    • Personal accident cover (for private car)
    • Medical expenses (for private car)

If you are living in Singapore, make sure that you follow and respect the law regarding the motor insurance policy. The policy doesn’t just cover the damage to your car, but also the injury you suffered is not your fault.