Categorized | Car insurance

3 MAIN TYPES OF MOTOR INSURANCE

3 MAIN TYPES OF MOTOR INSURANCE

Comprehensive (Also known as Type 1 coverage)
This type of policy provides cover for personal accident and accidental damage to your vehicle and windscreen replacement on top of protection against fire and theft, as well as third party death, injuries and property damage. Everything else being equal, this type of policy would thus cost more than other types of policies. You may add on optional benefits, such as coverage on additional accessories by paying a higher premium.

Third Party, Fire and Theft (Also known as type 2 coverage)
On top of third party coverage, this type of policy further allows you to make a claim should your vehicle be stolen or damaged by fire.

Third Party (Also known as type 3 coverage)
This type of policy covers death of, or injury to, other parties and damage to other people’s property. Under the law, the minimum requirement is that the policy provides cover for causing death of, or personal injury to, other parties.

GEOGRAPHICAL AREA OF COVERAGE

A Private Motor Car Insurance policy applies to losses or damages or liability incurred or substained within the geographical area as defined in the Schedule.In Singapore, Private Motor Car Insurance applies only to the following countries and areas: The Republic of SingaporeWest Malaysia; andpart of Thailand within 50 miles (some insurers use 80.5 kilometres instead of 50 miles) of the border between Thailand and West Malaysia.

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