Feed: Compare Car Insurance & Quotes - AggScore: 46.3

Finding The Cheapest Car Insurance Quote

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Looking for the cheapest car insurance quote can be quite a hassle – looking up different auto insurers, putting together different quotes with different benefits, doing research on which insurance companies are reputable and which one makes you jump through hoops when you need to claim, etc.

Do You Know What To Do In A Car Accident?

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Below are the things to do if you happen to be involved in an accident – hopefully none of us ever need to apply these steps. But as the wise saying goes, always prepare for eventualities.

What Has The Motor Insurers’ Bureau of Singapore (MIB) Got To Do With You?

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First, let’s look at why the MIB was set up. Its main purpose is to handle motor claims in cases where (1) the negligent driver cannot be traced/located, (2) the negligent driver possess an invalid motor car insurance policy, or (3) the negligent driver is not covered by any auto insurance at all.

How Do Insurers Underwrite Your Motor Car Insurance Policy?

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In the old days (before Sep 1989), insurance premiums were derived using a standard table provided by the General Insurance Association of Singapore (GIA). This table is known as a Motor Tariffs Table. Under this system, factors such as the ones below were used as a basis for computation.

Act Liability Only Insurance

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This is a compulsory insurance for all vehicle owners. Under this motor insurance policy, the insurer covers only death and bodily injury to third parties, including the passengers. In other words, this type of motor car insurance doesn’t cover damages to property or vehicle. It also doesn’t cover accidents that occur within private compounds.