Car Insurance

Motor Insurance for COE Renewal: What You Need to Know

Date: 2025-03-15 By tycoongirl Categories: Car Insurance No comments

COE renewal is an excellent opportunity to review and potentially upgrade your motor insurance coverage. Many vehicle owners stick with the same insurer year after year without realising they could get better coverage at a lower price.

Why Review Insurance at COE Renewal?

• Your vehicle’s value and risk profile changes with age
• Insurance premiums for older vehicles can be significantly lower
• New insurance products and features may be available
• Bundling COE renewal with insurance can unlock special rates
• Your driving record may have improved, qualifying you for discounts

Types of Motor Insurance

Third Party Only (TPO)

The minimum legal requirement in Singapore. Covers:

• Damage or injury to third parties
• Legal liability for accidents

Not covered: Your own vehicle damage, theft, fire

Best for: Older vehicles with low market value

Third Party, Fire & Theft (TPFT)

Covers everything in TPO plus:

• Fire damage to your vehicle
• Theft of your vehicle

Best for: Vehicles with moderate value in areas with higher theft risk

Comprehensive

The most complete coverage, including:

• All TPO and TPFT coverage
• Own damage (accidents, vandalism)
• Personal accident coverage
• Medical expenses
• Roadside assistance
• Windscreen coverage

Best for: Vehicles with significant value, including those with renewed COEs

Special Considerations for Renewed Vehicles

After COE renewal, your vehicle is technically “older” but you’ve made a significant financial investment in it. Consider these factors:

• Agreed value vs market value: For renewed vehicles, agreed value policies ensure you receive a predetermined payout regardless of market depreciation.
• Workshop clause: Some policies restrict repairs to authorised workshops. For older vehicles, flexibility to use independent workshops can save money.
• No-claims discount (NCD): Protect your NCD with an NCD protector add-on.

How COEPLUS Can Help

COEPLUS partners with 7+ leading insurers to provide you with competitive motor insurance quotes. We compare policies side-by-side to find the best coverage at the best price — completely free of charge.

Get a free insurance quote when you renew your COE through COE Plus.

Motor Insurance and COE Renewal: Bundle for Better Savings

Date: 2026-05-01 By tycoongirl Categories: Car Insurance No comments

When you renew your COE, it is also the perfect time to review your motor insurance. Many vehicle owners overlook this opportunity and end up paying more than necessary for their insurance. Here is how bundling your COE renewal with insurance comparison can benefit you.

Why Review Insurance During COE Renewal?

COE renewal is a natural trigger for reviewing all vehicle-related costs. Your insurance premium may have changed significantly since you last reviewed it, and there may be better deals available in the market. COEPLUS makes it easy to compare insurance quotes alongside your COE renewal financing.

Types of Motor Insurance

• Comprehensive: Covers your vehicle, third-party liability, and personal accident. Recommended for most drivers.
• Third Party, Fire & Theft: Covers third-party liability plus fire and theft.
• Third Party Only: Minimum legal requirement.

Our Insurance Partners

COEPLUS works with Singapore top insurers including AXA, NTUC Income, Aviva, AIG, Great Eastern, and Etiqa. We compare their rates and coverage to find you the best deal.

Potential Savings

By switching insurers or updating your coverage, many COEPLUS customers save between $200 to $800 per year on their motor insurance premiums. Over a 5 or 10-year COE period, this can add up to significant savings.