Motor Insurance

The three common types of motor insurance coverage offered by insurers in Singapore are;

• Third party Only

This provides cover for death or bodily injury to third parties (including passengers) and also accidents occurring on the road and on private property. However, it does not provide protection against damage to the insured vehicle whatever the cause.
• Third-Party Fire and Theft

This is an extension of the third-party only policy in that it additionally protects the insured's own vehicle against loss or damage which may result directly from fire or theft.
• Comprehensive

This type of policy offers the broadest protection against financial loss from using a motor vehicle. This policy covers not only the insured's liability for causing bodily injury (including death) or property damage to third parties (including bodily injury and death to passengers, it also covers damage to the vehicles that the insured uses with the permission of the vehicle owner.
Apart from these, the policy also offers additional benefits. For example, medical expenses and personal accident benefit (for private car insurance) or towing (for commercial motor vehicle insurance).