What is insurance?
Insurance reimburses people in the case of loss. People get insurance to provide them with security.
Why do I need insurance?
Insurance provides people with protection in the event of something unforeseen happening such as a car accident or house fire. By providing this security, insurance gives people peace of mind, knowing that they and their loved ones can maintain a quality of life during or after an unforeseen event.
What types of insurance are available?
Insurance comes in many forms and covers many different types of risks. The most popular insurance policies cover motor vehicles and health. If you have special or specific insurance needs, contact us for more information using the form found on the right.
Different types of motorcycle insurance?
How do I get an insurance?
contact us using the form found on the right.
How does the insurer set the premium?
Most insurers in Singapore adopt a "risk factor rating system" when setting your premium. This means that the premium is based on factors other than the vehicle's value or the price you paid for it.
In general, the following risk factors are considered when setting your premium:
Make and model of vehicle
Engine capacity (cc)
Age of vehicle (year of registration)
Age, sex and occupation of drivers
Driving experience of drivers
Claims history of drivers
What vehicle will be used for (private use/corporate use/commercial use/hire etc)
Type of cover
These risk factors will not necessarily have an equal influence on the size of your premium. Your insurer will give each risk factor a weighting based on a range of statistics and past claims information.
What information do I need to give the insurer?
It is extremely important for you to answer these questions truthfully. Failure to do so may affect the level of payout you receive in the event that you make a claim.
Have you made any recent claims?
Have you ever received a ticket or been charged for a driving offence?
Has your vehicle been modified?
Who will be driving the vehicle?
What will the vehicle be used for?
Have you had any recent motor accidents?
How long have you been driving?
Do you have any medical conditions or disabilities that may affect your driving?
What is a No-Claim Discount (NCD)?
If no claim has been made under your policy for a year or more, you are entitled to a No-Claim Discount (NCD). The NCD reduces the premium for the following year. This is your insurer's way of recognising you for having been a careful driver. The following table shows how the NCD is set by all insurers across the industry.
Private Car Policies Commercial Vehicle & Motorcycle
After an accident, will I automatically lose my NCD?
Not necessarily. Your NCD may not be affected if you are not at fault or your Insurer is not liable to compensate any party.
How do I transfer my NCD from one insurance company to another?
You can request to transfer your NCD by providing the new insurer with the following:
Name of insured,
IC of insured,
Name of previous Insurer and
If possible, include
Policy number and
NOTE: This transfer may not be immediate and subject to the new insurer's approval.
Why is my premium so much higher than my friend though we bought the exact same motor and insurance type?
This could be due to the difference in age and driving experience between you and your friend at the point of motor insurance purchase. Additional charges do apply for drivers below age 20 and/or driving experience is less than 1 year, which can significantly increase your motor insurance premium.
What are the procedures involved in getting a motorcycle insurance policy?
STEP 1 - Discuss the type of insurance you require with your motorcycle dealer.
STEP 2 - Depending on the motorcycle dealer's procedure, a proposal form would usually be given to you for completion before a quotation is provided.
STEP 3 - Receive a quotation from your motorcycle dealer.
STEP 4 - If you are agreeable to the quotation for the motorcycle insurance cover, you should indicate your acceptance to the insurance company or broker.
STEP 5 - Arrangement for payment of the premium and a motorcycle insurance policy shall be issued to you thereafter.
STEP 6 - Your motorcycle insurance cover will begin from the agreed date outlined in your policy.
Ho llng can I extend my motor insurance for?
Depending on your road tax expiry and subject to a maximum of 6 months. You need to renew for 1 year if if more than 6 months.
How do I submit a claim?
In the event of an incident/accident which is covered under your policy, you should always contact your insurance company as soon as possible.
Firstly, you will be required to complete and return a claim form. Sometimes, the insurance company might appoint an independent claim adjuster to look into the circumstances of the loss.
You should provide all information at your disposal to the questions that are raised by the insurance company as this will facilitate the processing of your claim.
Upon the completion of the investigation, the insurance company will make an offer to settle the claim, provided it is an admissible claim. If you accept the offer, the claim would then be paid. You would need to sign a claims discharge form indicating the finality of the claim.
Why do I need motor insurance?
In Singapore, it is against the law to drive a motor vehicle on the road without a valid insurance policy. The minimum requirement of the policy is that it provides personal injury cover to other parties.
Motor insurance makes good sense. Besides covering you for personal injury to third parties, it could also cover you for costs if you damage someone else's property or for any other loss or damage you might suffer in a motor accident.
NOTE: Always carry your Certificate of Insurance in your vehicle. The police may ask to see it in a routine check and it contains useful information that you will need should you be involved in an accident.
How do I renew my motor insurance?
If your vehicle is under hire purchase, please go in person to the motor shop where you bought your vehicle together with your Renewal Notice to process your renewal.
If your vehicle is fully paid up, you may go direct to the insurance company in person together with your Renewal Notice to process your renewal.
How can I add named rider to my motor insurance?
If your vehicle is under hire purchase, approach your Hire Purchase company where you have bought your vehicle together with a copy of the named rider's IC and driver's license to request for the amendment.
If your vehicle is fully paid up, you can approach your insurance company together with a copy of the named rider's IC and driver's license to request for the amendment.
NOTE: Your premium may be re-calculated depending on the details of the new named rider.
How do I cancel my motor insurance?
If your vehicle is under hire purchase, please go in person to the Hire Purchase company where you bought your vehicle together with your Certificate of Insurance (C.I) and IC for cancellation.
If your vehicle is fully paid up, you may go direct to the insurance company in person together with your Certificate of Insurance (C.I) and IC for cancellation.
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