When it comes to car insurance in Singapore, you have three main choices - third-party, third-party, fire & theft (TPFT) or comprehensive insurance.All three meet the legal requirement for car insurance, but they offer very different levels of protection. Knowing how they differ can help you choose one that fits your car’s age, value, and your budget.If you’re on the lookout for car insurance, you can compare and find the best car insurance with Coverro.
SourceThird-party insurance is the most basic and affordable option. It’s the minimum coverage required by law.It covers injury or damage you cause to other people, their cars, or property, but not your own vehicle.Example:If you hit another vehicle, your insurer will pay for the other party’s repairs. But any damage to your own car will come out of your pocket.Best for:
Older cars with low resale value
Drivers who want the lowest premium
Owners comfortable paying for their own repairs
What is third-party, fire & theft (TPFT) car insurance?
SourceThird-party, fire & theft (TPFT) sits between basic third-party and full comprehensive coverage.It offers everything a basic third-party plan does, plus protection for your own car if it’s stolen or damaged by fire.Covers:
Damage to another person’s car or property
Theft of your car or its parts
Fire damage to your car
But note that TPFT still doesn’t cover accident damage to your own vehicle.Best for:
Cars that are older but still valuable enough to be insured against theft or fire
Drivers who frequently park outdoors or in high-risk areas
Those who want extra protection without paying for full comprehensive coverage
What is comprehensive car insurance?
SourceComprehensive insurance gives you the widest coverage available. It includes everything from TPFT, plus protection for your own vehicle in the event of an accident - even if you were at fault.Covers:
Third-party damage and liability
Accidents involving your own car
Theft, fire, vandalism, or flood
Windscreen replacement
Personal accident coverage for driver and passengers
Optional add-ons like roadside assistance or a courtesy car
Best for:
New or high-value cars
Cars under loan or finance
Drivers who want complete peace of mind
Comparing all three car insurance policies at a glance
Feature
Third-party
Third-party, fire & theft
Comprehensive
Legally required
Yes
Yes
Yes
Covers your car (accidents)
No
No
Yes
Covers theft/fire
No
Yes
Yes
Covers other vehicles/property
Yes
Yes
Yes
Personal accident coverage
No
No
Usually included
Premium cost
Lowest
Moderate
Highest
How car insurance premiums are calculated
Your premium depends on several factors, including:
Your age and driving experience
The car’s model, value, and age
Your driving and claims history
No-Claim Discount (NCD)
Coverage type and any add-ons
Generally, newer or higher-value cars and less experienced drivers pay more.
Which one should you choose?
Your choice depends on your car’s age, value, and usage:
Older car (low value): Third-party insurance makes sense if repair costs are not worth it.
Mid-value car: TPFT is a balanced choice - slightly higher premium, but coverage for fire and theft can save you big.
New or financed car: Comprehensive insurance is usually the best option for full protection and peace of mind.
Quick tip: check your car’s current value
Before deciding, check your car’s market value - it helps you understand whether paying for full coverage is worth it.
Car insurance coverage that suits you
SourceAll three types of insurance serve different needs:
Third-party is the cheapest and most basic.
TPFT adds useful protection for fire and theft.
Comprehensive offers complete coverage and convenience.
If your car still holds good value or you rely on it daily, comprehensive insurance is often worth the extra cost. But if you’re driving an older car and mainly want legal coverage, third-party or TPFT can be practical alternatives.Whichever you choose, make sure it fits your car’s condition, your budget, and your peace of mind. Compare and find the best car insurance that suits your needs in 3 easy steps with Coverro here.
