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Singapore car insurance
Singapore car insurance
Like most other countries in the world, car insurance in Singapore is compulsary. You must show proof of insurance every time you renew your road tax.

The cost of car insurance in Singapore obviously varies on the type of car you drive and the type of insurance you choose, but generally, the prices are not much different from most countries in Europe or from the US. There are, however, some things to note:

3rd Party liability vs. Comprehensive
Due to the relatively high purchase price of cars in Singapore, most people choose comprehensive insurance their car. This brings the price of comprehensive insurance down quite considerably. You will have to take into consideration the excess and other influencing factors such as young driver inclusion and market or agreed value. Do check that the insured value is sufficient since your idea of market value and the insurer's idea of market value may vary (much)

No Claim Discount
Your No Claim Discount from your home country is taken into consideration when you get insurance here. Do take with you a proof of NCD from your insurance company back home as this can save you a lot of money.

Fluctuations
There may occasionaly be very large fluctuations in insurance premiums. If the insurance companies have had a bad year, do not be surprised to find the premium of your (type of) car doubled the next year. This is particularly the case if you own a coupe sports car. Insurance companies charge much higher premiums for sports cars, and many Singapore insurance companies won't even insure your sports car at all!

Where to get car insurance in Singapore?
Your dealer can always help you get car insurance, but you may be better off doing a bit of shopping around. Premiums may vary quite a bit from company to company. Most large international insurance companies have offices in Singapore and there are many respectable local companies too. It's probably a good idea to do some research on the web and call various companies to compare some prices.

An actual example
You can insure a normal, average, new family car for around $800 - $1000 per year, based on 50% NCD and comprehensive insurance. (Coupe) sports car will be double that amount.

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Further Reading

Vehicle Quota System

Buying a car

Car loans

Car Insurance

Driving licences

Singapore Traffic

Related Links

Land Transport Authority

One.motoring, gateway to all your motoring needs

Automobile Association of Singapore

Singapore Police Force & Traffic Police

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