Singapore Motorcycle Insurance Calculator

Motorcycle Insurance Scenarios

Singapore Motorcycle Insurance Overview

• Mandatory Coverage: Third party liability insurance required by law
• Minimum Coverage: $1 million for death/bodily injury, $3 million for property damage
• Policy Duration: Typically 12 months
• Renewal: Must renew before expiry to maintain road legality
• Claims Process: Report to insurer within 24-48 hours

Types of Motorcycle Insurance

• Third Party Only: Covers damage to others, not your bike
• Third Party, Fire & Theft: Adds fire and theft protection
• Comprehensive: Full coverage including own damage
• Enhanced Comprehensive: Premium coverage with extras

Premium Factors

• Motorcycle Value: Higher value = higher premium
• Engine Capacity: Larger engines cost more to insure
• Rider Age: Younger riders pay higher premiums
• Experience: More experience = lower premiums
• Claims History: Previous claims increase premiums
• Usage Type: Commercial use costs more

No Claim Discount (NCD)

• 1st Year: 10% discount
• 2nd Year: 20% discount
• 3rd Year: 30% discount
• 4th Year: 40% discount
• 5th Year+: 50% discount (maximum)
• Protection: NCD protection available for small fee

Coverage Limits

• Third Party Death/Injury: Minimum $1 million
• Third Party Property: Minimum $3 million
• Own Damage: Up to market value
• Personal Accident: $50,000-$200,000
• Passenger Liability: $100,000-$500,000

Additional Coverage Options

• Personal Accident: Medical expenses for rider
• Passenger Liability: Coverage for pillion rider
• Legal Liability: Legal costs coverage
• Windscreen Cover: Windscreen replacement
• Accessories Cover: Custom parts and accessories
• Breakdown Assistance: 24/7 roadside assistance

Excess and Deductibles

• Standard Excess: $500-$1,000
• Young Rider Excess: Additional $500-$1,000
• Voluntary Excess: Higher excess = lower premium
• Age-related Excess: Under 25 may have higher excess
• Inexperienced Rider: Additional excess may apply

Claims Process

• Immediate Reporting: Contact insurer within 24-48 hours
• Police Report: Required for accidents involving injury
• Documentation: Photos, witness statements, police report
• Assessment: Insurer will assess damage and liability
• Settlement: Repair or cash settlement

Premium Discounts

• No Claim Discount: Up to 50% for claim-free years
• Multi-Policy: Discount for multiple policies
• Security Features: Anti-theft devices discount
• Defensive Driving: Course completion discount
• Low Mileage: Discount for limited annual mileage

Premium Loading Factors

• Young Rider: Under 25 years old
• High-Performance: Sport bikes and superbikes
• Previous Claims: Recent claim history
• High-Risk Area: Areas with higher theft rates
• Commercial Use: Business or delivery use

Policy Exclusions

• Racing/Competition: Track days and racing events
• Unlicensed Riding: Riding without valid license
• Drink Driving: Under influence of alcohol/drugs
• Modifications: Undeclared modifications
• War/Terrorism: Acts of war or terrorism

Renewal Considerations

• Early Renewal: Renew 30 days before expiry
• Price Comparison: Compare quotes from multiple insurers
• Coverage Review: Assess if coverage still adequate
• NCD Transfer: Transfer NCD between insurers
• Policy Changes: Update for bike modifications

Cost-Saving Tips

• Shop Around: Compare quotes annually
• Increase Excess: Higher excess = lower premium
• Security Measures: Install approved security devices
• Limit Mileage: Accurate mileage estimation
• Maintain NCD: Avoid small claims if possible

Legal Requirements

• Compulsory Insurance: Required before road tax renewal
• Valid License: Appropriate class license required
• Policy Documents: Carry insurance certificate
• Accident Reporting: Report to police if required
• Penalties: Fines and imprisonment for uninsured riding

Special Considerations

• Vintage Bikes: Agreed value policies available
• Modified Bikes: Declare all modifications
• Track Days: Separate track day insurance needed
• Overseas Coverage: Check coverage for Malaysia trips
• Seasonal Use: Laid-up policies for storage