• POSB Car Insurance

    POSB Car Insurance

    DriveShield by POSB offers great benefits and value for money with low and affordable premiums.

    Promotion:

    Sign up for DriveShield with your POSB card and receive cash rebate of up to S$150:

    • Receive S$150 cash rebate on applying for a Premier Plan.
    • Receive S$120 cash rebate on applying for a Value Plan.

    Note: This promotion is applicable until December 31, 2016.

    Features and Benefits:

    • Car loan protection cover of maximum S$200,000 in case of accidental death if you are the policyholder and the driver of the insured vehicle. This feature is only applicable on the Premier Plan.
    • Overseas repatriation and medical evacuation cover of maximum S$50,000. This feature is applicable on any accident in parts of Thailand or West Malaysia and within 80 kilometers of the border between West Malaysia and Thailand.
    • Access to MSIG Insurance Claims Hotline number 24 hours a day with a team based in Singapore for handling all claims pertaining to car insurance.
    • Inspection of insured vehicles upon accident by MSIG Insurance within 2 business days after receiving an estimate from the workshop.

    Type of Plans:

    Value Plan:

    This basic plan provides coverage for claims related to accidents at more than 42 authorized workshops by MSIG across Singapore.

    Features and Benefits:

    • Option for accident repairs at any authorized workshops by MSIG.
    • No restrictions placed on the number of authorized drivers.
    • Third party cover in case of damages to third party property when driving the car insured up to a maximum of S$5,000,000.
    • No limit on the cover for windows and windscreens. No Claim Discount (NCD) will not be impacted by such claims.
    • A maximum cover of S$1,000 for medical expenses for the driver as well as each of the passengers involved in the accident of the insured vehicle.

    Premier Plan:

    This plan gives you the option to choose any workshop of your choice island wide for accident repairs plus other benefits including higher protection benefit, personal accident cover and transport allowance.

    Features and Benefits:

    • Option for accident repairs at any authorized workshops by MSIG.
    • Option to engage a workshop of your preference in case of accident repairs.
    • Third party cover in case of damages to third party property when driving the insured car of up to a maximum of S$5,000,000.
    • No restrictions placed on the number of authorized drivers.
    • No limit on the cover for windows and windscreens. No Claim Discount (NCD) will not be impacted by such claims.
    • A maximum cover of S$1,000 for medical expenses for the driver as well as each of the passengers involved in the accident of the insured vehicle.
    • Loan Protection Benefit – This provides cover of maximum S$200,000 for your outstanding car loan in case of your accidental death when driving the insured car.
    • Personal Accident Cover of maximum S$100,000.

    Additional Benefits in case of Theft or Accident:

    • Coverage for your car, spare parts and accessories from accidental damage or loss by theft or fire across Singapore, parts of Thailand and West Malaysia within 80 kilometers of the border between West Malaysia and Thailand.
    • Emergency assistance available 24 hours on the following services:
      • Roadside repair and emergency towing assistance.
      • Reference for Locksmith.
      • Repatriation of your car to Singapore.
      • Assistance with travel, hotel accommodation and rental vehicles.
      • Accident claim and police report assistance.

    Applying for DriveShield:

    You can apply for DriveShield Car Insurance offered by POSB through the following ways:

    • You can get an online quote for your insurance plan in 2 minutes by clicking on the “Get a Quote” or “Retrieve Quote” links available of the DriveShield web page on the official POSB Singapore website.
    • For any enquiries on the DriveShield plans, you can call the MSIG Hotline number from Mondays to Fridays between 8:45 AM and 5:30 PM. The number is available on the DriveShield web page of the official POSB Singapore website.
    • You can fill in the “Contact Me” form available on the DriveShield web page of the official POSB Singapore website. A representative of the bank will get in touch with you regarding the insurance process.
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