More Choices for Private Car Owners
With effect from 8 July 2016, private car owners who are renewing their Certificate of Entitlement (COE) can purchase a comprehensive motor insurance cover from MSIG for vehicles up to the age of 12 years old.
Customers can call MSIG's service hotline at 6827 7602 or approach their agents to request for motor insurance quote.
"Not many insurers offer comprehensive cover for cars over 10 years old due to its risk exposure. Covers available may be limited to third-party damages only," said Mr Jeremy Lian, Senior Vice President, Technical Services.
With MSIG, car owners will now have more options to choose a motor insurance plan that gives them greater protection and assurance.
Premiums are not necessarily higher. Under MSIG's MotorMax plan, a male driver with 5 years' of driving experience and zero NCD, will pay S$1,236 (with GST) for his 12-year-old Toyota Corolla Altis. This premium is the same if the male driver should purchase for a 9-year-old Toyota Corolla Altis.