Must-Know about Motor Insurance and Car Theft in Singapore

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.