Motor

You face a lot of risks on the road,
but insurance shouldn’t be one of them.

What is Motor Insurance?

To put it simply, motor insurance acts as a buffer to your financial health in the event of an accident. The insurer will pay for medical costs and costs of car repairs as per the policy.

What does Motor Insurance cover?

There are 3 standard things that are covered in a motor insurance policy. You can find the details below:

Property: When you car is damaged or stolen.
Liability: Your legal responsibility to others for property damage or bodily injury.
Medical: The cost of injury treatment and rehabilitation.

Ultimately you can pick your own types of coverage. Below is a brief breakdown of some of the elements of each types of cover starting with the most comprehensive:

Level 1
  • Covers accidents involving third parties.
  • Covers accidents not involving third parties (cars with plates).
  • Covers third party damage repairs and other third party costs.
  • Covers own damage repairs regardless of who is at fault.
  • Covers for cars stolen or fire.
Level 2+
  • Covers accidents involving third parties  (cars with plates).
  • Covers third party damage repairs and other third party costs.
  • Covers own damage repairs regardless of who is at fault.
  • Covers for cars stolen or fire.
Level 2
  • Covers accidents involving third parties only if  (cars with plates).
  • Covers third party damage repairs and other third party costs.
  • Covers for car stolen at fault.
Level 3+
  • Covers third party damage repairs and other third party costs. 
  • Covers own damage repairs.
Level 3
  • Covers third party damage repairs and other third party costs.
Please note that while there is coverage, the limit may not exceed what is stated in the policy.

Is Motor Insurance important?

It does not matter how assured you think you are on the road, accidents do happen and when they do, you can be financially impacted without insurance. Not only can the costs pile up due to repairs and medical costs, but you may be legally liable should you be at fault. It can be distressing before you know it.
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Who needs Motor Insurance?

By all accounts, all vehicles should be insured. To better equip for any unprecedented motor accidents, it is recommended to have level 1 insurance as it provides the least  chances of any financial impact on yourself.

How much does a Motor Insurance policy cost?

There are several factors that plays a role in determining the price of a motor insurance. You can find the different factors below:

  • Coverage Limit: The cost will reflect the coverage you select; the more extensive products, the higher the risk for insurers and therefore the more expensive the premium.
  • The Vehicle: Insuring a more expensive car will be more expensive than a cheaper car.
  • Claims History: A car that has had many claims can see their premiums spike up.

Why CHAZ?

At CHAZ, our claim teams can be the first point of contact should any accident occur. Our team can guide and adivse on the next steps so you can continue with your life without any worries or concerns.

Important Disclosure

The content provided is for informational and educational purposes only. The coverage written may not be applicable to all situations and policies. Terms, conditions and qualifications are also subject to circumstance and supplementary material. For more information, please contact us via the enquiry form below..

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