1 Answers
StarKnight
Updated:18/04/2024
The cost of car insurance for seniors in Singapore varies based on several factors, including age, driving history, and coverage options.
Factors Affecting Car Insurance Costs
- Age: Older drivers often receive lower premiums due to experience.
- Driving Record: Clean records without claims result in discounts.
- Type of Vehicle: More expensive cars or high-performance vehicles may cost more to insure.
- Coverage Options: Comprehensive policies typically come with higher premiums than basic coverage.
Average Costs of Car Insurance for Seniors
| Insurance Type | Average Annual Cost |
|---|---|
| Basic Third-Party | SGD 800 – 1,200 |
| Comprehensive | SGD 1,500 – 2,500 |
Statistical Breakdown
Here is a breakdown of the average cost of car insurance for seniors in different age groups:
| Age Group | Annual Premium (SGD) |
|---|---|
| 60-64 | SGD 1,000 – 1,800 |
| 65-69 | SGD 1,200 – 2,000 |
| 70+ | SGD 1,500 – 2,500 |
Mind Map
Car Insurance for Seniors:
- Factors Affecting Costs
- Age
- Driving Record
- Vehicle Type
- Coverage Options
- Average Costs
- Basic Third-Party
- Comprehensive
- Statistical Breakdown
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