Finance & Insurance

Eurokars Financial Services (EFS), alongside the leading Financial Institutions and Insurers in Singapore, offers curated motor insurance plan, giving you total peace of mind against financial liabilities. Whilst it is mandatory for car owners to purchase a motor insurance in Singapore, not all motor insurance products are created equal. For instance, your policy may have restrictions on where you could send your vehicle for repair when you are making an accident claim against your own policy. A trustworthy and established workshop would ensure they have the capability and integrity to restore your vehicle without compromising the safety of you and your passengers.

This occurs when your own vehicle is damaged due to an accident in which you are at fault and you have a comprehensive policy which indemnified you. This will involve you having to pay an excess indicated on your policy and your No-Claim-Discount (NCD) would also be affected and reduced.

In the event where you are at fault and you do not have a comprehensive policy, you would not be able to claim from any insurance and have to bear the cost of repair yourself.

On the other hand, if the accident was not caused by you, you would be able to claim from the other party’s third party cover.

This occurs when your windscreen is cracked or shattered. You will be required to notify the policy if there is evidence of a criminal or malicious act involved, including damage to your windscreen when the vehicle is parked. Windscreen cover will be reinstated automatically following a claim, free of charge. Your NCD will not be affected but an excess as indicated on your policy might apply for each claim.