Skip to main content

Must-Know about Motor Insurance and Car Theft in Singapore

Car theft is not a common incident
Car theft is not a common incident; it happens in many places at different parts of the globe, and yes, Singapore is no exemption to this. But believe it or not, motor vehicle and other related theft incidents in the country has decreased by 10.6% based on the Singapore Police Force’s Annual Crime Brief 2018 ─ from 991 cases in 2017 down to 886 cases in 2017.

Despite this, there are still reported incidents of cars being stolen. Therefore, taking extra measures when it comes to securing the safety of your car is important. And this means having the best car insurance with the policies suitable for you and your car’s needs.

In addition to the fact that driving a motor vehicle without valid motor insurance is against the law, there are other important things that you should know about motor insurance and car theft.

Types of motor insurance that cover a stolen car

Once you the key to your dream car in the palm of your hand, the next thing that you must do is to choose the auto insurance. And as a car owner, the last thing you would want to happen is to get your vehicle stolen or damage, right? That being said, there are three main types of motor insurance to choose from that guarantees to make your vehicle covered from should it be a subject to theft.


  • Third Party Car Insurance

Take note that this type of car insurance only provides the minimum coverage mandated by Singapore law. Whether it is yourself or the vehicle, third party car insurance gives protection from the cost of claims by a third party, should you find at fault for injuries or damages.


  • Third Party, Fire, and Theft Insurance

This provides protection to your car, in any case, it got stolen; damaged during an attempted theft, and; damaged by fire.


  • Comprehensive Car Insurance

In addition to the benefits you can get from the aforementioned types of insurance, this one provides an extra level of protection both to you and your car. In addition, this car insurance type also has extended coverage, as well as optional items like No Claim Discount protection, personal accident, and medical expenses cover, vehicle towing, windscreen damage, and so on…

It takes 30 days (or longer) to pay out on a claim

Since a loss car is a sensitive case that needs further assessment, it may take about a month or so before you receive the payout on your claim. Once confirmed, your private car insurance provider will pay for the market value of your car during the time of the theft.

Loss vehicle becomes the insurer’s property when once found

In case you’re wondering whether you are still eligible for the loss vehicle once it is found after you have received the compensation, well, the answer is you are not, provided that your insurer already made the reparation.

Tips to avoid car theft
  • Always lock the door ─ whether you’ll be away for just a few minutes or a bit longer.
  • If you have an anti-theft auto system, turn it on.
  • Keep your valuables away from the window (where burglars can easily see).
  • Install a car camera.
  • Park in a secure parking lot or garage ─ the ones which have guards or installed CCTV.
  • Do not leave your car keys in the ignition.

*These are some of the safety tips.

Looking for a trusted provider of private car insurance in Singapore? Reach Autoshield through our customer service hotline 6385 0777 or by sending SMS to 8588 9191, 8686 9991, 8688 9991, 8588 9991, 8866 9991, 8868 9991, 8668 9991.
Labels:

Comments

Post a Comment

Popular posts from this blog

5 Common Myths about Motorcycle Insurance You Need to Know

While there are some who prefer to ride on two wheels than to drive a four-wheeled vehicle, there are also people who would rather let their body sway as they run a motorcycle. If you are looking for both thrill and fun, riding a motorcycle is a great way to experience such. However, given that you're sharing the same road with other motor vehicles means not being safe at all. Which is why, if there’s car insurance, there is also an insurance that is meant for riders ─ motorcycle insurance. This type of insurance provides protection in the incident wherein your two wheels get stolen, vandalized or damaged, and even helps in terms of medical expenses should you happen to fall off your motorcycle and hurt yourself or a third party. In line with this kind of insurance policy are some of the common myths that you might have heard or used to believe in. 1. Motorcycle insurance is way too expensive If the main reason that makes you feel hesitant about considering motorcycle i...
Post a Comment
Read more

Keep Yourself and Your Bike Safe and Protected with Motorcycle Insurance

Riding on a two-wheeled vehicle is riskier than driving an auto, which is why if your car requires insurance, the same thing goes when you own a motorcycle. If not, motorcycle insurance will never exist. You may somehow think in one way or another that getting motor insurance is just a luxury, but it’s not, men! It is what your bike needs and deserves. As a matter of fact, this kind of insurance can also protect you while on the road. If there is one thing you should put in mind after having the getting your desired make and model of a motorcycle, it is definitely the motor insurance; you need it so you can ride a bike. The same with a car, the insurance for your two wheels is also required by law, which needs to be followed. In times of unexpected event of a collision, the policy you’ve signed in will provide coverage. Also, a comprehensive type of coverage will have your motorcycle covered for damage which is not a result of a collision. In addition to the mentioned benefits...
Post a Comment
Read more

4 Steps in Making Successful Car Insurance Claim in Singapore

There will be times that no matter how careful you are in handling your every drive accident can still happen. It can either involve another party or just you being blinded by other stuff. Whatever the case may be, it is important that your vehicle is insured, thus buying car insurance or motor insurance should be your top priority. When unfortunate events happen while you’re on the road and you want your insurance to shoulder the expenses caused by the accident, there are some important thing to bear in mind. Albeit getting help, in terms of financial, is one of the main importance of getting auto insurance , it is not always guaranteed that the claim process will succeed. For making a successful insurance claim in Singapore, here are the things that you should remember: 1. Exchange information and particular with the other parties involved Exchanging information like name, address, NRIC, contact number, license plate number, and even insurance company with the other p...
Post a Comment
Read more