A motorcycle has its charms. It’s small, fast and easy to get around with. Yet on the flip side, motorcycle riders are also prone to accidents and sometimes, motorcycle insurance is the one thing that can really make a difference.
With motorcyclists being involved in more than 69% of fatal accidents last year and more than half of the people that sustained injuries from traffic accidents in 2020 being motorcyclists and their pillion riders, the odds aren’t good.
Stay prepared by knowing what is covered under your motorcycle insurance and how to make a claim, so that you can react in time when something happens.
Are all motorcycle insurance the same?
First things first, check what type of motorcycle insurance you have as the plans can be quite different.
They are mainly three types of motorcycle insurance – Third-Party Only (TPO), Third-Party, Fire & Theft (TPFT), and Comprehensive – which vary in price and scope of coverage.
- Third-Party Only (TPO): The cheapest, and also the most basic plan. Covers damage, death or injury to a third party. Any damage to you or your motorcycle is borne by you.
- Third-Party, Fire & Theft (TPFT): A mid-tier plan that includes the same coverage under TPO, and any damage to your motorcycle caused by fire or theft.
- Comprehensive: The priciest option but also the plan that provides the most coverage. It covers everything under the TPFT plan and insures you and your bike against loss and damage sustained in accidents and malicious acts, among others.
When can I claim for motorcycle insurance?
Stuck in a sticky situation and not sure if you can make an insurance claim? Read on to find out some of the common scenarios faced on the road and whether your motorcycle insurance covers it.
1. I got into an accident with another motorist
As motorcycle insurance is compulsory in Singapore, and all plans cover third party damage, you can make a claim to cover damages to the other party if the accident is your fault. For instance, ePROTECT motorcycle insurance covers damages of up to S$500,000, death or injury to the other person as well as any legal costs incurred.
What if your bike got trashed in the process? This will be covered under a Comprehensive plan, but not a TPO or TPFT plan. And if there were any modifications made to your motorcycle, these will be covered as well as long as they are LTA-compliant.
What you should do: Take these steps in the event of an accident. Stay calm, assess the damage, take pictures, and exchange personal details with the other person if third parties are involved. Then, make sure you report the incident to your insurer and head to an approved reporting centre with your motorcycle within 24 hours of the accident for assessment. If you decide to make a claim, submit it to your insurer within 14 days of the accident.
2. My motorcycle was stolen
Motorcycle theft in Singapore may be more common than you think. In the first three months of 2021 alone, five people were arrested for motorcycle theft. If you have at least a TPFT plan, you will be covered if the entire motorcycle is stolen. In the event that the stolen motorcycle is recovered, but with missing or damaged parts, you can make a claim too.
What if this happens overseas, such as Malaysia?
You can still make a claim, but you will need to pay an excess up to 50% of your stolen motorcycle’s market value (capped at $2,500).
What you should do: If your motorcycle is stolen, make a police report and contact your insurer immediately. Include a copy of the police report when you submit your claim. To prevent theft, safeguard your motorcycle by parking in well-lit areas with CCTVs, and/or investing in an anti-theft alarm and additional locking devices like disc brake locks.
#TiqOurWord Did you know ePROTECT motorcycle covers you across geographical borders to West Malaysia and even Southern Thailand (within 80km of the Malaysia-Thai border)?
3. My motorcycle was vandalised
Unlike cars which are well protected from the elements and the prying curiosity (and hands) of strangers, motorcycles are exposed and can be easily tampered with.
If you own an expensive bike or constantly travel to places partial to such incidents, a comprehensive plan may be worth considering as it is the only plan that offers coverage in this situation.
What you should do: Vandalism is an offence under Singapore law and if the damage is significant, a police report should be made. Do also notify your insurer, especially if your motorcycle has been disabled and you require towing services.
#TiqOurWord Need to tow your disabled motorcycle to the nearest repair centre? Towing costs of up to S$50 are covered under ePROTECT motorcycle’s TPFT and Comprehensive plans.
4. My friend got into an accident while riding my motorcycle
If you find that your friend is getting as much mileage as you are on your motorcycle, it’s worth declaring them as a named rider during your application. This way, they get to enjoy the same coverage too.
But what if you and your pillion rider were injured in an accident? Assuming you opted for a comprehensive policy, will your pillion rider be covered? Unfortunately, your motorcycle insurance only covers the rider listed in the policy.
What you should do: If your friend is a named rider under your insurance policy, the same coverage and claims process for accidents apply.
However, with motorcyclists and their pillion riders consistently being over-represented in traffic accidents, it’s always a good idea to have life insurance or personal accident insurance just in case misfortune strikes.
Should I make a claim?
You should know by now that not all claims are equal. If the damage is severe, definitely make a claim as that’s what motorcycle insurance is for – to help defray costs when it gets too high.
But what if the damage made to someone else’s vehicle – or your own – is simply aesthetic and can be fixed at a low cost? In such instances, not making a claim could help you save more in the long run. Here’s why: No-Claim Discount (NCD).
That’s right. Most, if not all, insurers reward safe riding through the form of NCD. To illustrate this, ePROTECT motorcycle offers discounts from 10% (for one year without claims) and up to 20% (for three or more consecutive years without any claims made). That’s up to S$200 saved if your premiums cost S$1,000!
#TiqOurWord All accidents should be reported to your insurer, even if you have settled privately and are not planning to make a claim. This protects you in case the other party files a claim against you in future. Without this notification of accident, you could also risk losing your NCD!
Preparation is the best policy
Compared to cars, motorcycles provide little to no protection for their riders. This, coupled with the fact that motorcycles are often missed by other drivers, makes riding on the road more dangerous.
As a result, accidents are not a matter of if, but when. Be prepared by getting the right motorcycle insurance for your needs; familiarise yourself with what your plan protects you against, so that you’ll know exactly what to do when that day eventually comes.
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Information is accurate as at 7 July 2023. This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC.
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