When it comes to owning and driving a motorbike in Singapore, you may think that simply paying for the bike and the safety equipment is enough. However, in Singapore, you are also required to have insurance on your motorbike. This insurance policy has to cover at least third party liability for bodily injury or death that might come from the use of the motorbike.

There are several types of motorbike insurance policies available. Here are some things that you should know about motorbike insurance and some tips to consider when you are making a motorbike insurance comparison

Third Party Motorbike Insurance

As mentioned, if you own a motorbike in Singapore you are required to have a minimum of third party insurance. This is the cheapest and easiest type of policy to satisfy the legal requirements. A third party only insurance policy will only cover bodily injury or death to another person that is caused by an accident that involves your motorbike. This policy will also cover the damage to another person’s property. If there is any damage to your motorbike during an accident, this type of policy will not cover it. 

Comprehensive Motorbike Insurance

A comprehensive motorbike insurance policy will cover both your property and other persons if you are involved in an accident. This is the type of policy that is going to provide you with the most coverage and the biggest peace of mind. Of course, this type of policy is the most expensive. Since this policy provides full coverage, it is likely the type of policy you are going to have to have if you are financing your motorbike as the bank that provides you with financing is going to want to make sure their asset is protected. 

Tips for Choosing the Right Motorbike Insurance Policy

The first thing that you should do when you need a motorbike insurance policy is to make sure that you get quotes from more than one company. Many people make the mistake of simply going with the first company that they contact. Taking the time to research and compare the different motorbike insurance policies that are available is one of the best ways to ensure that you are getting the best coverage at the best price. 

Once you have quotes from several companies you are going to want to compare more than just the price. You want to look closely at the type of coverage that you are getting for that price. Oftentimes people will simply choose whichever policy is the cheapest, but this could leave you with a high bill to pay in the end as you might not have enough coverage if you are in an accident. At times, it is worth paying a bit more for your premiums on a motorbike insurance policy to get better coverage options. 

Another important thing that you need to do when shopping for motorbike insurance is to make sure that you ask questions. Insurance policies can be confusing and it is important to make sure that you fully understand the type of insurance and coverage that you are getting. After all, you are paying for this policy, make sure that you know what you are getting. There is no question that is dumb and you should ask anything that is on your mind about your potential insurance policy. 

Motorbike insurance is important and in Singapore, it is illegal not to have it if you own or you are driving a motorbike in any capacity. For this reason, it is important to make sure that the policy you purchase will at least cover the bare minimum required by law. In most cases, it is best to purchase a motorbike insurance policy that also covers you and your bike should you be involved in an accident. If you have a loan on the bike your bank will require this. 

The main goal should be to get the most coverage that you can afford to ensure that you are properly protected if you happen to be involved in any type of accident when you are riding your motorbike.