In Singapore, there are two types of motor insurance scheme. Authorised Workshop or Any Workshop. It is easy to understand that authorised workshop scheme has lower premium because the insurer has control of the repaire cost. Most of the motor cars are covered under authorised scheme in Singapore. People usually opt for any workshop scheme because they have super model cars which can only be fixed in designated workshops.
About the Author
Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
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