Buying a car is something most people strive for, putting in sweat and hard work to earn it. So, protecting it becomes a priority. Opting for a car insurance will ensure that their vehicle stays protected. In Singapore, it is compulsory for people to have their vehicles insured.
DBS bank is one of the leading banks in the world and a well-known name in the banking and financial sector. The bank is very Asia -centric in nature and is growing exponentially in the region. It has a wide range of products and services for its customers to choose from. Be it loans, insurance or cards, DBS provides it all, making banking easy for the people. Today, the bank’s headquarters is at Singapore and it has over 250 branches in 17 markets around the world.
About DBS Bank Car Insurance Policy
DBS bank provides a comprehensive coverage through its DriveShield car insurance policy. This policy is affordable and saves your car from damages.
DBS bank’s DriveShield insurance policy is divided into two categories -
- Value Plan
- Premier Plan
The value plan is a basic car insurance plan which provides coverage for repairs of any damage caused due to an accident in any MSIG authorised workshops in Singapore.
The premier plan, on the other hand, gives a person the freedom of choosing their own workshop in the Island for repairing damages caused due to an accident. Apart from this, the plan also provides other benefits such as transport allowance and loan protection among others.
DBS Car Insurance Features and Benefits
- The policy provides a coverage of up to SGD200,000 for loan protection and up to SGD50,000 for emergency medical evacuation and repatriation when abroad
- A person can get this policy quickly without any hassles
- The 24 hour hotline of MSIG Insurance Claims provides you with service round the clock
- This policy provides coverage for a person's vehicle and its parts in case of damage or loss caused due to accident, fire and theft. This service is provided if the damage or loss occurs anywhere in Singapore, parts of Thailand and West Malaysia
|Benefits||Value Plan||Premier Plan|
|Make repairs caused due to accidents in any workshop authorised by MSIG||Yes||Yes|
|Freedom to repair your car in any workshop of your choice, in case of damages caused due to accident||Yes|
|There is no restriction on the number of authorised drivers||Yes||Yes|
|Get a coverage of up to SGD5,000,000 for third-party damage while driving the insured vehicle||Yes||Yes|
|Unlimited coverage for windows and windscreens. The claims you make will not affect your no-claim discount||Yes||Yes|
|Avail medical expenses of up to SGD1,000 for each passenger who was in the car during the accident and the driver||Yes||Yes|
|Avail Loan Protection Benefit which provides coverage up to SGD200,000 for your outstanding car loan in an event of death of the insured caused due to an accident while driving the insured vehicle||Yes|
|Avail coverage of up to SGD100,000 for Personal Accident Benefit for the insured||Yes|
Eligibility Criteria to get the online quotation for DriveShield
- The registered car owner is considered as the main driver and he must be a Singapore citizen or a permanent resident
- The driving license of the main driver should not be cancelled or suspended in the past three years
- The main driver should not be the subject of any claims in the past three years. This excludes windscreen related claims.
- The online quotation which you avail for your car should not be insured with MSIG
- To be eligible, the application of the main driver for the car insurance should not be terminated, declined or imposed with special terms by any insurer in Singapore
Run Time - This offer is available till the 30th of September, 2015
Particulars - Get a cash rebate of up to S$120 on the premier plan and up to S$100 on the value plan, when you sign up for DriveShield insurance policy using your DBS Credit Card or POSB credit card or debit card.
Terms and Conditions
- This offer is available to people who apply for a new DriveShield policy
- Payment has to be made using a DBS or POSB credit or debit card
To know more about the offer and its terms and conditions, please contact the bank.
Frequently Asked Questions (FAQs)
- Where can I find more information about the DriveShield car insurance policy?
- Can I apply for this car insurance policy online?
- Is the DriveShield car insurance policy written by DBS bank?
- Is the car insurance policy provided by DBS bank protected?
- If my spouse also drives the car, do I have to mention that in my car insurance application?
To find out more information about the DriveShield car insurance policy, please visit the website of DBS bank or contact them on the number provided on the site.
Yes, you can apply for this car insurance policy online. You can also visit the bank’s branch in person and apply for the same.
The DriveShield car insurance policy is written by MSIG insurance company.
The car insurance policy provided by DBS bank is protected under the Policy Owners’ Protection Scheme which is controlled by the SDIC (Singapore Deposit Insurance Corporation).
No, it is not necessary to name them in the policy. The insurance policy covers any driver who drives the insured car with the permission of the insured.