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Cheapest Car Insurance Provider

Cheapest Car Insurance Provider – First things first! Why bother looking for the best car insurance in Singapore when today’s cars have so many features to ensure the safety and well-being of passengers?

Well, because there are times when things beyond your control happen down the road—anywhere and without warning.

Cheapest Car Insurance Provider

Cheapest Car Insurance Provider

That’s why getting the best car insurance in Singapore should be one of your top priorities before you hit the road. However, car insurance can be expensive, and the variety of insurance options out on the market can easily make your head spin.

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Comparing car insurance in Singapore can also take time, so to help you with all this, we looked at all the options available on the island and selected the best car insurance in Singapore for your convenience.

Before we continue with our best options for the best car insurance, we have put together a comprehensive guide on the best car insurance in Singapore for 2021 to help you choose which insurance option is best for your needs. But if you already know what you want, keep going to the main list.

In Singapore, before you can drive on the road, you must have car insurance. According to the Motor Vehicle (Third Party Risk & Compensation) Act, not having car insurance can result in hefty fines, jail time, and even disqualification from your driver’s license.

Apart from legality, having car insurance in Singapore helps you in financial matters in case of injury and damage in case of vehicle accident. So, getting car insurance not only protects you and your loved ones but also other people on the road.

The Best Cheap Car Insurance For 2021

According to the Singapore Police Force’s Annual Road Traffic Report for 2019, there were 7,666 reported road accidents and more than 9,000 people were injured. Of all accidents, 116 fatal accidents were reported with a total of 117 fatalities.

And although there is a downward trend in the number of road accidents from 2016, we cannot say for sure that we will not be part of that statistic. That’s why you need to set up all the safety nets you can get if these things happen—and getting the right auto insurance is a great first step.

According to GoBear, there are only three types of car insurance in Singapore: Third party only (TPO); third party, fire & theft (TPFT); and comprehensive car insurance.

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As the name suggests, this type of car insurance only covers third parties affected – such as pedestrians, your passengers, other drivers, property damage – 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 car and minor injuries to you, your passengers, and other drivers.

TPO car insurance will cover medical expenses for your passengers and the other driver, as well as repair costs for damage to the other driver’s car. However, you won’t get paid for your medical bills and car repairs.

This type of car insurance is similar to TPO car insurance but with more benefits. Like TPO car insurance, it will only cover liabilities to third parties, but if your car is damaged by fire (through an accident) or becomes a victim of theft.

Any damage caused by a third party—such as vandalism, arson, etc.—will also be covered by the TPFT insurance policy.

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You had a car accident with another driver, which caused damage to both of your vehicles. This also causes a fire in your vehicle, causing it to be severely damaged.

Your car has a broken window, and you want to fix it. However, thieves use this window of opportunity (

Fortunately, it was later recovered by law enforcement. During the theft, your car’s side panels and mirrors are broken.

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TPFT car insurance will cover repairs for side panels and mirrors but not for broken windows as they are not caused by theft.

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This is the most expensive type of car insurance in Singapore. Although different insurance companies may differ in what they offer, most comprehensive car insurance covers damage to your car, other cars involved, and injuries to third parties—whether the accident is your fault or caused by natural events.

Your car is parked across the street when a strong gust of wind blows through a large tree branch that falls on your windshield, damaging it. Even if it wasn’t your fault, the accident was caused by a natural event beyond your control.

So, your comprehensive car insurance will cover the damage especially if you take a good car insurance plan.

Insurance companies are very thorough and take into account many factors when calculating your car insurance premium. They do this to assess the driver’s likelihood of being involved in an accident so that they will be able to calculate how much they will need to pay.

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There are many factors to consider, and some factors weigh more heavily than others. But to make it easier, we’ve picked the most important ones when calculating your car insurance premium.

Over the years, several studies have found that male drivers are more prone to road accidents than female drivers. In another study, car accidents involving drivers aged 21-29 were the highest compared to other age groups.

So, female drivers and those above the age of 30 can expect a lower premium. However, this is not a guarantee, as there are other factors that can come into play.

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

Steps To Getting Cheap Car Insurance

Apart from that, car insurance companies in Singapore will also take a look at your driving history and check if there are any violations, tickets or violations. Of course, having a traffic law violation on your record can get you a higher premium.

If you drive a luxury car, SUV, or other high-end car, you will definitely have to pay a higher premium. This is just because this type of car costs considerably more to repair than other cars.

In addition, newer car models usually mean higher premiums, with the cost dropping the larger the car. However, if your car is 10 years old or more, the premiums start to rise again as these cars become more expensive to repair due to the unavailability of spare parts and a higher tendency of breakdowns.

It is safe to say that the more you drive, the higher your chances of being involved in a road accident. This is why many insurance companies charge higher premiums to drivers who use their cars on a daily basis compared to drivers using off-peak or red-plated cars.

Best Cheapest Car Insurance Companies In Singapore

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

This is also another way for insurance companies to find out how “safe” your driver is, because the number of claims can be equated with the number of accidents you have been in.

Note that any false claims made in the past may result in the rejection of your insurance application. In fact, there are many factors that can lead to the rejection of your application or the cancellation of your insurance policy.

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According to GoBear, it can be driving under the influence, ahead, car modifications not approved by LTA, or simply being dishonest or misleading when reporting an accident.

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

If you’re wondering why the range is so wide, it’s because there are many factors to consider when calculating your insurance premium, as mentioned in the first part of our guide. The best way to determine how much you should pay is to ask for a quote from the insurance company.

Yes. As mentioned above, you need car insurance first before you can drive on the road. Failure to comply is a breach of the Motor Vehicles (Third Party Risk & Compensation) Act. Besides it is now convenient to research and get car insurance online in Singapore, there is no reason not to get one.

This will depend mostly on your insurance policy. That said, the more claims you have made while your policy is in effect, the higher the increase.

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According to ValueChampion, most car insurance premiums can increase by around 17% after the first claim and as much as 51% after two claims in three years.

To avoid this, it is better to practice safe driving for your benefit and the benefit of 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 compared the top car insurance companies in Singapore so we’ve done the work for you!

Cheapest Car Insurance Provider

AXA Insurance is one of the most prominent names in the insurance industry—and for good reason. In fact, we consider their SmartDrive Car Insurance plan to be the best car around

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