About motor insurance Can u help?

EvilPorkChop SG

i'm currently under DBS finance and my insurance is up soon. My is a new car 1 year old.

Heard that we MUST comprehensive package and NOT third party fire and theft... any one can advise?

Thanks alot.

africatwin SG

yup. it should be mentioned inside the contract you signed when u applied for your car loan.

all cars under loan must take comprehensive insurance plan, not only for dbs.

this is becoz, if u take 3rd party coverage, in the event that the accident damage is so severe you car has to be scrapped, the bank will not be able to get back a single cent coz insurance only covered 3rd party.