Complete Car Insurance Guide | Buy Car Insurance in Singapore
Car Insurance | Insurance
by Bienu
27 September 2020
Cover your Car…Carefully!
The thrill of buying a new car gives us a different high. This is the second most expensive purchase of our life, after home. Buying a car in Singapore costs us a near fortune…
…but despite highly efficient transportation, it is difficult to live without a car. It provides you with the ease of travel by saving substantial time and costs. While buying a car with all those accessories which you love, don’t forget to buy insurance, which is mandatory for everyone who is going to drive your car.
In Singapore, you must know that Car Insurance is compulsory, not optional. Still, you need to know about car insurance you are going to zero in as lack of any specific feature can impact your claim. As soon as you bring the car on road, your insurance should be in force or you will subject to heavy penalty or even punishment. So, all you responsible citizens, buy car insurance carefully. You can compare premiums and features on any webs-aggregators’ sites and can carefully read policy features offered by insurers.
Terms & Conditions
Many car insurance policies will require you to name the other user of the car for them to receive the same protection. These people may be your spouse, friend, family member or your driver. You need to disclose these details to the insurance company in advance that these specific people will also be driving your car.
Under the Motor Vehicles (Third-Party Risks & Compensation) Act, while driving a vehicle on a public road, you must have insurance coverage, which will cover the death or injury of anyone caused by that vehicle. If you don’t have insurance, you can be fined up to $1,000, jailed up to three months, or both. Not only this, but you’ll also be disqualified from holding or obtaining a driving license for 12 months from the date you are convicted.
Unfortunately, if you get into an accident, and don’t have insurance, then God can only save. It would not only bring financial doom for you but also entangle you in legalities. But here all the losses you incurred due to accident like repairs, damages and medical expenses would be borne by Insurer if you have a policy.
Now you know, what can happen to you if you don’t have a car insurance policy.
