Car Insurance Companies Compared

As the name suggests, this type of car insurance covers only the third parties involved—such as pedestrians, your passengers, other drivers, damaged items—but not you or your car.

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You are driving your car, carrying two other passengers, when you accidentally collide with another car. These collisions cause damage to your vehicles and minor injuries to you, your passengers and the other driver.

TPO car insurance will cover medical expenses for your passengers and the other driver, as well as the cost of repairing the other driver’s car. However, you will not receive payments for medical expenses and car repairs.

This type of car insurance is similar to TPO car insurance but has many benefits. Like TPO car insurance, it will only pay for third-party liability, but only if your car is damaged by fire (accidentally) or is a victim of theft.

Any damage caused by third parties – such as vandalism, fire, etc. – will be covered by TPFT’s insurance policy.

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You have been involved in a car accident with another driver, causing damage to both of your vehicles. This also burns your car, causing severe damage.

Your car has a broken windshield, and you want to fix it. However, the thief took this opportunity (

Fortunately, it was later officially reinstated. During the theft, your car’s dashboard and rearview mirror were damaged.

TPFT car insurance will cover the repair of your side panels and rear view mirror but not for a broken window as it is not caused by theft.

Compare Auto Insurance Quotes (from $30/mo)

This is the most expensive type of car insurance in Singapore. Although different insurance companies may vary in what they offer, most auto insurance policies generally cover the costs of your car, other vehicles involved, and third-party damages—whether the accident was your fault or caused by natural events.

Your car was parked on the side of the street when the wind blew hard and blew a large tree branch that fell on your windshield, breaking it. Although it was not your fault, the accident was caused by a natural event beyond your control.

So, your comprehensive car insurance will cover more costs if you take the best car insurance plans.

Insurance companies have a lot of information and take a lot of factors into consideration when setting your car insurance premiums. They do this to assess the likelihood of the driver being involved in an accident so they can calculate how much they will have to pay.

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There are many things to consider, and some aspects are more important than others. But to make things easier, we’ve selected the most important ones when calculating your car insurance premiums.

Over the years, many studies have found that male drivers are more vulnerable to traffic accidents than female drivers. In some studies, car accidents involving drivers aged 21-29 are the highest compared to other age groups.

So, female drivers and those above 30 years of age can expect lower premiums. However, this is not a guarantee, as there are other factors emerging.

) often get lower premiums compared to, say, drivers who have only been driving for a few months.

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Besides, Singapore car insurance companies will check your driving history and check for any debts, tickets or charges. Yes, having a traffic violation on your record can get you a hefty fine.

If you drive luxury cars, SUVs, or other luxury vehicles, you will definitely have to pay higher premiums. This is because these types of cars are more expensive to repair than other cars.

In addition, new types of cars often mean higher premiums, and costs decrease as the car ages. However, if your car is 10 years old or more, the premiums start to rise again as these cars are more expensive to repair due to unavailability of parts and high tendency to break down.

It’s safe to say that the more you drive, the more likely you are to be involved in a traffic accident. This is why many insurance companies charge higher premiums for drivers who use their cars on a daily basis compared to drivers who use cars that don’t have high mileage or red cars.

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Car insurance companies will also consider all the claims you have made in the past with all car insurance providers. The more applications you make, the higher your fee will be.

This is also another way for the insurance company to let you know how “safe” the driver is, as the number of claims can be compared to the number of accidents you have been involved in.

Note that any fraudulent claims made in the past may result in your insurance application being rejected. In fact, there are many reasons that can lead to the rejection of your application or the cancellation of your insurance.

According to GoBear, it could be driving under the influence, driving ahead, modifying a vehicle not approved by LTA, or being dishonest or misleading in reporting an accident.

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Based on our extensive research, you should expect to pay at least S$500 and S$1,500 a year for car insurance.

If you’re wondering why the list is so extensive, it’s because there are many factors to consider when calculating your insurance premiums, as discussed in the preceding section of our guide. The best way to find out how much you will have to pay is to ask for quotes from insurance companies.

Yes. As mentioned above, you need car insurance before you hit the road. Failure to comply with this rule is an offense under the Motor Vehicles (Third Party Accident and Compensation) Act. Apart from the fact that it is easy to research and find car insurance online in Singapore, there is no reason why you should not do it.

It will largely depend on your insurance. That said, the more claims you make while your policy is in effect, the higher the increase.

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According to ValueChampion, most car insurance premiums can increase by 17% after the first claim and 51% after two claims over a three-year period.

To avoid this, it is best to practice safe driving for yourself and others. As you will find out later, some car insurance companies offer benefits to drivers who drive safely.

Now that you know more about car insurance in Singapore, you can finally choose which car insurance is best for your needs. Luckily, we’ve already compared the top car insurance companies in Singapore to make you proud!

Allianz is a well-known insurance company rated A + by Standard & Poors in 2022. They established their regional office in Singapore in 1998