Personal Finance
Does Having an Electric Vehicle Affect Your Car Insurance?
By ValueChampion  •  May 13, 2022
Short answer? Yes, having an Electric Vehicle affects your car insurance policy. Long answer? Here are the details. Electric Vehicles are quickly gaining traction in Singapore, with the number of electric vehicles here more than doubling in 2021. This upward trend is predicted to continue under the Singapore Green Plan 2030 as the government continues heavily advocating and incentivising increased EV usage. With seemingly everyone making the switch over to EVs, the burning question on everyone’s mind is how your current car insurance policy will be affected by the purchase of a new electric car. What are the differences between insurance policies for electric and non-electric cars, and how will your new vehicle be protected? To this end, here are 3 essential points you need to know about electric car insurance in Singapore. EV Motor Insurance is Relatively Rare and Expensive Compared to insurance policies...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?

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