{"id":8964,"date":"2021-11-25T08:00:30","date_gmt":"2021-11-25T00:00:30","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/?p=8964"},"modified":"2021-11-24T21:23:31","modified_gmt":"2021-11-24T13:23:31","slug":"essentials-of-car-insurance","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/essentials-of-car-insurance\/","title":{"rendered":"Essentials Of Car Insurance"},"content":{"rendered":"<h5><strong>When it\u2019s time to renew your car insurance, you may gloss over policy terms in search of the best deals available, but it\u2019s helpful to have basic knowledge of the essentials to facilitate your search.<\/strong><\/h5>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-8965 size-full aligncenter\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1907782024.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1907782024.jpg 1000w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1907782024-300x200.jpg 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1907782024-768x512.jpg 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1907782024-696x464.jpg 696w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1907782024-240x160.jpg 240w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>Shopping for a car is, to most people in the market for such an item, a pleasurable experience. The excitement dies a little, however, when one realises the other expenses that come with owning a car!<\/p>\n<p>One such expense is the car insurance, which is compulsory in Singapore. Unlike car shopping, where you can get easy comparisons in terms of price and options, the world of car insurance is a little complicate \u2014 it comes with a mouthful of jargon and multitude of conditions and options, sometimes on a case-by-case basis instead of being applicable across the board.<\/p>\n<p><img decoding=\"async\" class=\"wp-image-8966 size-full aligncenter\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1858848811.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1858848811.jpg 1000w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1858848811-300x200.jpg 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1858848811-768x512.jpg 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1858848811-696x464.jpg 696w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_1858848811-240x160.jpg 240w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><br \/>\n<strong>TYPES OF CAR INSURANCE<\/strong><br \/>\nThere are three types of car insurance plans:<\/p>\n<ul>\n<li>Third Party Only (TPO);<\/li>\n<li>Third Party, Fire and Theft (TPFT); and<\/li>\n<li>Comprehensive Car Insurance.<\/li>\n<\/ul>\n<p>The <strong>TPO<\/strong> is the minimum plan requirement in Singapore. It\u2019s the least expensive because it only covers damages to other people\u2019s cars in the event of an accident but not, unfortunately, any damages to your own car. Do note that TPO is only paid if it\u2019s proven that the accident was not your fault. <strong>TPFT<\/strong> provides additional coverage by including damages to your car due to fire, theft and even vandalism. The most expensive is the <strong>Comprehensive Car Insurance<\/strong>, and that\u2019s because it covers anything that happens to your car and any other parties involved. Do note that some banks offering car loans require you to take this plan in order to approve your loan. And if you\u2019re buying a car that\u2019s more than 10 years old, this plan is not an option.<\/p>\n<p><strong>TERMS TO NOTE<\/strong><br \/>\nThere are three insurance terms that frequently appear in car insurance policies.<\/p>\n<p>The first is <strong>Excess<\/strong>. This refers to the fixed sum you have to fork out for damages before the insurer covers the rest. This amount is adjustable, depending on your budget. If you opt for a higher excess, you pay less in premiums but you may put yourself at risk of a painful pay out from your own pocket in the event of an accident. A lower excess covers you more but also means the premiums you need to pay will be higher.<\/p>\n<p><strong>No-Claim Discount<\/strong> (NCD) is an incentive for drivers to stay safe and avoid getting into accidents. If you\u2019ve managed to stay free from any insurance-affecting accidents and made no insurance claim, you earn a 10% discount on your next insurance premium for each no-claim year up to a maximum of 50%. So if you make it to the sixth year without having claimed any insurance, you stand to have the following year\u2019s insurance premium at half the cost!<\/p>\n<p>These days it is common for a private car to be shared between different members of the family. In such situations, it makes financial sense to add these additional drivers in the car insurance policy. These additional drivers are termed <strong>Named<\/strong> <strong>Drivers<\/strong> in the policy. They are recognised by the insurer as the other approved drivers of the same car, and are covered by the main owner\u2019s car insurance policy, sharing the same protection and privileges as agreed under the policy\u2019s terms. Some insurers allow up to five named drivers for free, on the condition that they are not below 25 years old and have at least two years of driving experience.<\/p>\n<p><img decoding=\"async\" class=\"wp-image-8973 size-full aligncenter\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_577216435.jpg\" alt=\"\" width=\"1000\" height=\"718\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_577216435.jpg 1000w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_577216435-300x215.jpg 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_577216435-768x551.jpg 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_577216435-696x500.jpg 696w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-content\/uploads\/2021\/11\/shutterstock_577216435-240x172.jpg 240w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><strong>MAKING A CLAIM<\/strong><br \/>\nTo make an effective claim that ensures on-time pay out, don\u2019t delay submitting a proper claim. Do it as soon as possible and within 24 hours from the time of the accident or by the next working day. Your claims may be voided if you do it after that window period.<\/p>\n<p>Avoid negotiating or making a private settlement with the other party. What this shows is you admitting liability even if the other party is in the wrong.<\/p>\n<p>Gathering evidence \u2014 like car camera footage of the accident \u2014 will be of great help to back your case. If your car doesn\u2019t have a dash cam installed, use your smartphone to get varying shots of the accident site and involved parties \u2014 you may wish to do this even if there is video evidence available.<\/p>\n<p>Lastly, make sure to only visit car workshops authorised by your insurer. This will help smoothen the claims process.<\/p>\n<p><a href=\"applewebdata:\/\/5E8E64B0-1A72-401D-BAAD-5260AF82A0D9#_ftnref1\" name=\"_ftn1\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it\u2019s time to renew your car insurance, you may gloss over policy terms in search of the best deals available, but it\u2019s helpful to have basic knowledge of the essentials to facilitate your search. Shopping for a car is, to most people in the market for such an item, a pleasurable experience. The excitement [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":8965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1523,7426,7432,7436,2098,7428,7433,7437,4354,7435,7430,7429,6780,7434,7431,2103,7427,7438],"class_list":{"0":"post-8964","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-car-talk","8":"tag-aa-highway","9":"tag-basic-knowledge","10":"tag-car-camera-footage","11":"tag-car-camera-footage-of-the-accident","12":"tag-car-insurance","13":"tag-car-insurance-policies","14":"tag-car-workshops","15":"tag-dash-cam-installed","16":"tag-driving-experience","17":"tag-effective-claim","18":"tag-insurance-affecting-accidents","19":"tag-no-claim-discount-ncd","20":"tag-pleasurable-experience","21":"tag-policys-terms","22":"tag-private-settlement","23":"tag-tpft","24":"tag-types-of-car-insurance-plans","25":"tag-video-evidence"},"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/posts\/8964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/comments?post=8964"}],"version-history":[{"count":5,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/posts\/8964\/revisions"}],"predecessor-version":[{"id":8975,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/posts\/8964\/revisions\/8975"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/media\/8965"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/media?parent=8964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/categories?post=8964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/aa-highway.com.sg\/wp-json\/wp\/v2\/tags?post=8964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}