Motorcycle insurance is a type of insurance that provides protection against losses incurred due to owning and operating a motorcycle. It’s a compulsory form of insurance in Singapore, and motorcycle own This article will provide an overview of motorcycle insurance in Singapore and help you understand the process of getting your motorcycle insured.
Choose Your Policy
The first step in purchasing motorcycle insurance is to decide what type of policy you need. There are three main types of motorcycle insurance policies: Third-Party Only, Third-Party Fire and Theft, and Comprehensive.
1. Third-party only
Third-party only policies cover you if you injure someone else or damage their property in an accident, but it does not cover you or your bike if you have an accident. It’s typically cheaper than other forms of insurance, but it’s essential to be aware of what is and is not covered.
Third-party-only motorcycle insurance can be an excellent option for riders who don’t use their bike often or those who live in areas with low crime rates.
2. Third-party fire and theft
Third-party fire and theft motorcycle insurance coverage protects you if your motorcycle is damaged or destroyed by fire, theft, or vandalism. Additionally, this coverage protects you if you are hit by an uninsured or underinsured driver.
This policy is ideal for people who ride their bikes in areas prone to high crime rates and arson attacks.
Comprehensive motorcycle insurance covers you for damage to your bike, whether from a collision, theft, fire, or any other type of incident. This is the most extensive motorcycle insurance policy and is ideal for new or luxury bike owners.
Compare a Few Motorcycle Insurance Companies
Knowing the insurance policy you need, the next step is to research different insurers and compare their rates. Be sure to ask about the available discounts, as well as the coverages that are included in each policy.
When comparing motorcycle insurance, it’s also essential to keep in mind the following:
- Your driving record
- The make and model of your bike
- Your age
- The amount of coverage you want
- Your deductible amount
Purchase your policy
Motorcycle insurance can be purchased from a variety of sources, including agents, brokers, and online providers. You can visit https://www.directasia.com/motorcycle-insurance/ if you’re looking for an online insurance provider you can trust in Singapore. Be sure to have your driver’s licence number and motorcycle information handy when you purchase the policy.
Review your policy
The final step is to review your policy and make sure it meets your needs. Even if you have motorcycle insurance, that doesn’t mean you can skip out on reviewing your new policy after purchase. In fact, doing so is essential to making sure you have the coverage you need.
You should review the following things on your policy:
- Your liability limits. Make sure you are adequately covered in case of an accident.
- Your medical coverage. This will help pay for your medical expenses if you are injured in an accident.
- Your property damage coverage. This will help pay for damage to your bike if you are involved in an accident.
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