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I've been driving for years.
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We think it goes without saying that you need a valid driver’s license to be insured. Even though it makes you feel good to round up, if you’ve been driving – for example – for five years and seven months, round down to five years.
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What’s this “No Claims Discount” thing?
If you’re an awesome accident-free driver, you might get a discount on your plan! Check with your provider or on your renewal notice. If you can’t be bothered checking right now, just enter 0% here.
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We hope it’s ok, but we assumed a few things to find you the best plans.
Our assumptions: You’re the registered owner of the car and it’s registered in Singapore, right? We thought so! We’re pretty sure you’re an awesome driver so we’ve assumed your license hasn’t been suspended or cancelled in the last five years, you don’t have Demerit Points and you haven’t had any accidents or claims in the last three years. And we’re guessing in the last three years you haven’t been knocked back by any car insurance provider. We also guessed you don’t use your car for work or for making money. And if you’ve jazzed up your car, we’re hoping it’s still LTA compliant.
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WHY COMPARE CAR INSURANCE THROUGH GOBEAR?

  • Free and unbiased – We cut out the middleman and don’t play favourites with plans
  • Personalised search – Skip the brochure-talk. The quotes are based on your car and driving history.
  • Bang for your buck – Get the latest promotions, great discounts and best deals
  • Time saver – No personal contact details required. You’re just clicks away from instant car insurance quotes
  • Trusted by your buddies – Check out reviews and scores for smarter comparisons

Get the best car insurance deal in Singapore with GoBear


Finding the right car insurance is not just about finding the best price. You want to be getting the best deal that matches your needs. Moreover, you want to be sure that you’re covered if the unexpected happens. We are pretty sure you are an awesome driver, but you can’t always predict accidents or objects like hail, flood or rocks chipping your windscreen. With a car insurance policy that’s just right for your car, you can make sure you do not end up out of pocket.

What’s car insurance?


In a nutshell, car insurance is peace of mind for you. It’s your financial protection in case something unexpected happens to your car. Imagine for example a bear leaping from the woods and leaving a giant pawprint dent on your car’s roof. Look out! Seriously, if you cause an accident, your car insurance will cover the big costs associated with damage to your car, to someone else’s car or property, or even hospital fees if you or someone else is injured.

Do you need car insurance?


In Singapore, it is not just risky to drive without car insurance – it is against the law. Even if you don’t want full comprehensive car insurance, at the very least you need to have third- party car insurance to cover damages to someone else’s car or property, or in case they are seriously hurt.

What type of car insurance do you need?


There are heaps of different car insurance companies in Singapore – and they offer three major types of car insurance. These are:

- Third-Party Car Insurance: This covers you if you have an accident and you damage someone else’s car or property. It does not cover your own car if you get into an accident, or if any other unexpected things happen to your car. It is the cheapest insurance coverage but, bear in mind, coverage is limited.

- Third-Party, Fire, and Theft Car Insurance: This is similar to the third-party coverage but with some added benefits! Hence, you’re covered if you have an accident and you damage someone else’s car or property. And, like the name says, it also covers your car if it is stolen or damaged by fire.

- Comprehensive Car Insurance: This offers the most cover to repair or replace your car if it gets stolen. The cover applies as well should your car be damaged as a result of an accident, vandalism, theft or weather. It also covers accidental loss or damage to your car, and most of the time, it covers all of your car’s accessories and spare parts. It covers you as well when a third party makes a claim against you. This may happen when you accidentally hit their car or their property. If you finance your car, you don’t get a choice – you have to take out comprehensive cover.

Insurance companies also offer other benefits you can add on if you wish. For example, you can choose if you want to be covered in case your windscreen gets a chip or crack. If you’re a superb driver and you’re not using your car to earn extra dough, you might be entitled to a No Claim Bonus provided you don’t have an accident. This varies between insurers so you can check for online car insurance quotes to figure out how much it might cost you.

Car insurance FAQs


- What’s a No-Claim Discount?
If you haven’t made a claim in the past year, some insurance companies will offer you a discount on your insurance policy when you renew it. This is good news! The longer you go without making a claim, the better discount you might get.

- When should I renew my car insurance policy?
Ideally, one or two months before your car insurance expires. This will give you enough time to renew your road tax and get a car inspection if you need one. Insurance providers often introduce updates to their car insurance plans that might be up your alley, so you should think about comparing car insurance plans on GoBear before you renew.

- How much premium should I pay for my car insurance?
Most car insurance providers will look at a bunch of different things to figure out how much you are likely to end up paying. Based on those answers, they weigh up how “risky” you are as a driver and how likely you are to make a claim. Some of the things that influence what you pay each month are:

1. What kind of car you have and how old it is
3. The driver/s – Age, gender and whether you work inside or outside
4. Driving experience
5. Claim history
6. Type of cover
7. Excess level
8. Whether you drive your car in peak or off peak traffic
9. No Claim Discount

You can use a car insurance calculator to determine your premiums or ask an insurance agent to give you quotes. Or the easiest option, you can compare online car insurance quotes using GoBear! How do I know which is the best car insurance policy for me?
You can call around and get car insurance quotes or use a comparison tool like GoBear to find and compare the best car insurance policies for your car. Always read the fine print to see whether the car insurance they are offering is the right fit for you.

Save time and money with your car insurance


Use GoBear to find, compare, and choose the right car insurance for you.
With GoBear’s three easy steps (find, compare, choose), you can easily compare car insurance in Singapore. Put your details in the form above, and away you go! By using your smarts and our comparison tool, you can see which deal is cheapest but, more importantly, which deal is really the best value for money.

So why choose GoBear?

Free. Unlike other insurance comparison tools, GoBear is totally free for you to use so you can find and compare as many car insurance plans as you wish before making your decision.

Easy. You don’t need to be a genius to use GoBear. We make it easy to compare insurance, loans and credit cards at home or on the go. Find what you need in barely a few clicks.

Savings. We can save you money by showing you the best deals, and help make sure you are getting value for money.

Unbiased. We aren’t in cahoots with any banks or insurance providers, which means the results we show you are unbiased.

Transparent. We show the best plans and credit cards from all the key players so there is no need to shop around. Unless you like wasting your own time.

Why spend endless hours and headaches shopping around? Fill out the form above to compare car insurance with GoBear Singapore and find the best plan for you in a matter of seconds.

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https://www.gobear.com/sg/car-insurance/overview

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  • 1.What is Standard Excess? How will it affect my premium?
    Standard Excess refers to the amount of money you are required to pay (eg. first $600) before the car insurer pays (eg. from $601 onwards) when you claim for accidental damage. Some car insurers offer the option to increase your excess to reduce your premium. This excess may double in amount. The motivation for insurers to offer this feature is based on the assumption that with a higher excess, a driver is likely to be more conscientious when driving on the road. The likelihood for such drivers to make a claim is lower.
  • 2.What is waiver of excess?
    Some insurers will cover your standard excess while your car is being repaired at one of their authorised workshops. Under "waiver of excess", sub-section “own damage”, you are able to check if an insurance plan offers this benefit.
  • 3.What if I sell my car in the midst of my insurance policy period?
    Please check with your car insurer as the procedure varies with each car insurer. The common procedure would involve these following steps:

    1. Inform your car insurer in writing that you would like to cancel the policy.
    2. Enclose your original auto certificate of insurance, a photocopy of your sales agreement/de-registration letter from LTA and a letter from you, stating that you would like to terminate the policy.

    The termination is usually effective from the date the car insurer receives your termination request and confirms that all necessary documentations are in order.
  • 4.When should I consider renewing my car insurance?
    Ideally 1 – 2 months before your car insurance expires. This will give you enough time to renew your road tax and car inspection should you need one. It would also be useful to compare car insurance plans on GoBear to ensure that you have the right car insurance plan. Insurance companies often update their product offerings that may be of interest to you and you could benefit from some savings from these new products.
  • 5.What does the car insurer need to know about me?
    The profiles of a driver forms the main determinant in accessing premium levels. Here are some questions that are often asked:

    1. Have you made any claims? (up to 3 years ago)
    2. Has your vehicle been modified?
    3. Who will be driving the vehicle?
    4. How long have you been driving?

    When GoBear calculates your premium we assume that you didn’t make any claims and your vehicle is not modified. If this is the case, please expect actual premiums to be higher.
  • 6.How does the insurance company set my premium?
    Most insurance companies have a “risk factor rating system” when setting your premium. It is like a score card where certain factors have higher weightage than others. Some factors are:

    1. Car make, model and age of vehicle
    2. Car engine capacity
    3. Age, gender, occupation of drivers (Indoor or outdoor)
    4. Driving experience of drivers
    5. Claim history of drivers
    6. Type of cover
    7. Excess level
    8. Peak or Off-Peak Car (OPC)
    9. No Claim Discount (NCD)
  • 7.If I settle the claim privately, do I have to report the accident to my insurance company?
    Yes, you are required to do so. If you do not report an accident to your insurer within 24 hours or by the next working day and/or do not provide your car to the insurer for inspection in accordance with the terms of the insurer, the insurer may reduce your No Claim Discount upon renewal of your policy. And no NCD protector can cover that.
  • 8.What is Young and Inexperience Driver Excess?
    This is someone who is below a certain age (determine by the insurance company) and/or has less than 2 years of driving experience. Young and inexperience drivers normally pay an additional excess on top of the standard excess (this varies from insurance companies) in the event of an accident claim.  

    Find out the different Young and Inexperience Driver excess across various insurance companies by using our compare function!
  • 9.What is No Claim Discount (NCD)?
    NCD stands for No-Claim Discount.

    This is a discount offered by car insurers for those car owners who have not made any claims within a year or more. The longer the car owners do not make any claims, the better the discount they may be eligible for.

    The No-Claim Discount or NCD is meant to reduce the premium that car owners will have to pay the following year with regards to their car insurance plan. This way, the insurers will be able to recognize those car owners who have been pretty careful on the roads. The table as shown below illustrates more about how the car insurers out there determine the NCD.

    PERIOD OF INSURANCE WITH NO CLAIM -- NCD
    • 1 Year -- 10%
    • 2 Years -- 20%
    • 3 Years -- 30%
    • 4 Years -- 40%
    • 5 years or longer -- 50%

    Every year, if no claim made against your car insurance, you will be entitled 10% premium discount (accumulated up to a maximum of 50%) for your car insurance. This discount will take effect on your next policy year. If you are a named driver on somebody else policy you will not receive a NCD discount.
  • 10.Is NCD transferable to another person?
    No. Your NCD relates only to you. It can only be transferred when you switch vehicles, eg. When you change from your old vehicle to your new purchase vehicle, assuming you get your new car within a certain time period.
  • 11.Can I insure against loss of my NCD
    If you have a 50% NCD (ie you haven’t had a claim in five years), you could explore the option some insurers offer to protect against the loss of the discount. Certain insurer even provide a NCD protector with 30% NCD. This could come with an incremental premium but this means you can make one claim during the year, and still have your NCD fully protected. Check if your insurer has this benefit on GoBear.
  • 12.Insurance Lingo - Car Insurance
    Main Driver
    This is the person who drives the vehicle most often and earns a NCD.

    Named Driver
    Named driver are additional drivers you declare on your policy who frequently drive your vehicle.

    Authorised Driver
    Authorized driver is anyone you give permission to drive your vehicle but who is not declare in your car insurance. A named driver shares the same excess as you whereas an authorised driver receives higher excess. This though could vary from insurer to insurer. 

    Excess
    Excess (also called a ‘deductible’) is the money you pay out of your own pocket before an insurance company covers the rest of a claim. How much you pay depends on the policy and the company. Usually, though, car insurance deductibles are between $0 and $1,500.

    Keep in mind that deductibles and premiums are related. A high deductible means a low premium. Also, a low deductible means a high premium. To put it another way, a high deductible can save you money every month. You’ll have a big bill to pay, though, if you file a claim.

    Waiver of Excess
    Some insurers will pay your standard excess when your car is being repaired at one of their authorized workshops. You can check if the Insurer has this benefit under the chapter “own damage” under the name “waiver of excess”. 

    Comprehensive cover
    This offers the widest coverage in terms of repair or replacement of your vehicle if it gets damaged or lost as a result of accident, vandalism, theft or weather-related damage. It also covers accidental loss or damage to your vehicle, and most of the time all its accessories and spare parts and lastly It also covers liability claims from third parties. A comprehensive cover is mandatory when you finance your car if you are financing your car.

    Third Party, Fire and Theft Cover
    This covers injury and damage caused by your vehicle to someone else’s vehicle or property. It also covers your vehicle if it’s stolen or damaged by fire.  

    Third Party Cover
    This covers liability from third parties for damage and injury to their vehicle or property caused by your vehicle. Your own damage when you are at fault due to an accident is not covered.

    Premium
    This is the amount you pay to an insurer so it will provide coverage and pay claims.
  • 13.What type of motor insurance coverage should I buy for my car?
    Insurers normally offer 3 main types of motor insurance policies.

    1. Comprehensive cover - This offers the widest coverage in terms of repair or replacement of your vehicle if it gets damaged or lost as a result of accident, vandalism, theft or weather-related damage. It also covers accidental loss or damage to your car, all its accessories and spare parts as well as liability of claims from third parties for damage to people and property.
    2. Third Party, Fire and Theft Cover - Covers injury and damage caused by your vehicle to someone else’s vehicle or property. It also covers your vehicle if it’s stolen or damaged by fire.
    3. Third Party Cover - Covers liability from third parties for damage and injury to their vehicle or property caused by your vehicle. Your own damage when you are at fault due to an accident is not covered.

If you find these answers helpful? Check out our FAQs for other products to learn more.