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Frequently asked questions
Q: What is Car Insurance?
In a nutshell, car insurance is the peace of mind for you. It’s your financial protection in case something unexpected happens to your car. 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.
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.
Q: Do I 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.
Q: What is a No Claims Discount (NCD)?
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. Also sometimes known as a No Claims Bonus (NCB).
Q. 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.
Q. 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!
Q. 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.
Q: What type of car insurance do I need?
There are heaps of different car insurance companies in Singapore – and they offer broadly 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 car insurance 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 typically includes damage 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 usually 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 Claims Discount 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.
Q: So why choose GoBear?
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.
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? Compare car insurance with GoBear Singapore and find the best plan for you in a matter of seconds.