The main types of insurance policies available are:

1. Third Party, which covers:
   • Third party injuries and fatalities
   • Third party property damage
2. Third Party, Fire and Theft, which covers:
   • All the above, and
   • Fire damage to, or theft of, your vehicle
3. Comprehensive, which covers:
   • All the above, and
   • Accidental damage to your vehicle
   • Vehicle windscreen damage
   • Damage from riots, strikes and civil commotions
   • Personal accidents and medical expenses (for private cars only)

There are options for comprehensive policies which offer wider coverage in the following areas:

• Damage caused by floods and windstorms
• Liability of passengers for acts of negligence
• Personal accident benefits for passengers
• Additional excess
• No-Claim Discount protection (for private cars only)

Motorists are required by law to have a motor insurance policy that covers third party injuries.

While it is important to purchase a policy for third party accident claim Singapore that’s affordable, higher-priced policies allow for crucial flexibility, and would, for example, cover all authorised drivers with a driving license, and allow more choices when it comes to workshops and repairs.

Consider the following when choosing your car insurance sg policy:

• Are there restrictions on who can drive the vehicle?
• What extra coverage can you purchase?
• Will reconditioned parts be used in the repair of your vehicle?
• How much excess will you be required to pay should you need to make a claim?
• Are you required to repair your damaged vehicle only at authorised workshops listed in your policy?
• Does your policy meet your bank’s requirements? This applies if you are buying the vehicle on a hire purchase or car loan scheme.

Insurers require certain information to properly assess the underwriting risk and set the right premiums for policy for third party accident claim Singapore.

Failure to give accurate information could result in the voiding of your policy, or in your insurer repudiating any claims.

Here is the key information you will be required to give:

• How long have you been driving for?
• Who are the parties who will be driving the vehicle?
• Have you made any recent claims?
• Have you been in any recent accidents?
• Have you ever received a Traffic Summons?
• Have you been charged for a driving offence?
• Has your vehicle been modified?
• What will the vehicle be used for?
• Do you have any medical conditions that might impair your driving abilities?

Your insurer should provide you with an executive summary of key contract terms and obligations when it comes to your policy, and it should include the following:

• How long have you been driving for?
• The premium payable
• Details about the length and extent of your coverage
• The excess for insured and uninsured, named and unnamed drivers.
• Any restrictions on drivers
• Restriction on workshops and repairs
• Non-standard exclusions
• Accident reporting and claims procedures
• The insurer's cancellation and refund policy

Yes. Both you and your insurer can cancel your policy for policy for third party accident claim Singapore. in writing. Upon cancellation, unused portions of your premium will be refunded to you.

Some insurers refund the premium on a pro-rata basis and charge a small administration fee. Others calculate what would have been charged if your policy were a short-term policy, which usually occurs if the cancellation is at your request.

Note that refunds might also be subject to a minimum amount, and that your insurer might reserve the right not to refund any premium if a claim has been made.

Please check with your insurer regarding their modus operandi before committing to a policy.

Yes. Your insurer may decide to cancel your policy if you breach terms and conditions, or have provided false information. Your insurer may refuse to renew your policy for reasons such as a poor claims history or insured driver profile.

There is usually a stipulated notice period for cancellations. Note that refunds might also be subject to a minimum amount, and that your insurer might reserve the right not to refund any premium if a claim has been made.
Please check with your insurer regarding their modus operandi before committing to a policy. For more such insurance claims advice, stay tuned with Brze. 

Excess is the amount motorists have to pay upfront when they make a claim. Excess will be refunded if said motorist is found to be not liable for an accident. Generally, you only pay an excess for your damages and when it's your fault.

The higher the excess, the lower the premium. Want to get more insurance claims advice? Keep in touch.

NCD is a no-claim discount, and you are entitled to it if there has been no claim on your policy for a year or more. A NCD reduces your premium for the following year and is a reward for staying accident-free.

Making a claim does not automatically disqualify you from no-claim discounts. You may still be entitled to it if your liability in an accident with an unidentified vehicle is at 20% or below. In cases where your liability is higher than 20%, your NCD might be reduced, unless you have a NCD protector cover.

NCD is why drivers often prefer to settle smaller accidents privately.

This depends on your insurer.

Although NCD is generally non-transferrable, some insurers allow NCD to be transferred from one insurer to another and from one car to another, and in some cases, to the policyholder's spouse as an irreversible one-time action.

NTUC Income is one insurance provider that allows this.

Most third-party insurance claims in Singapore are settled within a period of six months. For more complicated cases, insurers require more time to investigate a claim. You can assist in speeding up your claim processing by providing as much of the necessary documentation to your insurer as possible.

Need more such insurance claims advice? Contact us now.