With new for old car coverage, you can get your car replaced with a new car of the exact same make and model should your vehicle be stolen or written off. 36 Month New for Old Car Replacement is an optional benefit you can add to your car insurance policy with DirectAsia to further upgrade protection based on your needs.
This benefit applies to cars which are stolen or suffer a total loss, in which the cost of repairs is more than your vehicle’s market value, within the first 36 months of the first registration. Kindly note that the new for old car insurance benefit will not be renewable once your car reaches 3 years old from the first vehicle registration date.
New cars begin losing value as soon as they are driven off the lot. For cars under 3 years old, obtaining new for old car replacement insurance serves as a lifeline to help get you back on the road without the financial burden of replacing or repairing your vehicle.
How to Purchase New for Old Car Insurance in Singapore
New for old car insurance is currently available as an optional add-on for drivers insured under Comprehensive Cover with us. Comprehensive is our most extensive cover which protects you, your car and your loved ones from everyday dangers such as accidents, theft, fallen trees and extreme weather. As one of the most popular covers in Singapore, it provides the greatest peace of mind, allowing you to drive confidently with full coverage on an important personal or family asset.
Apart from Comprehensive, we also offer Third Party Fire and Theft (TPFT) and Third Party Only (TPO) covers for varying levels of coverage. Learn more about our cover types to determine which best suits your needs.
Get a New for Old Car Insurance Quote Today
Shield your car from danger by customising your insurance plan with optional 36-month new for old car coverage and our many other flexible add-on benefits for a seamless motoring experience in Singapore. Receive an instant quote online or give us a call at +65 6665 5555 — we are more than happy to help you with any enquiries.
Frequently Asked Questions
What are the benefits of new for old car coverage?
In the event of extensive damages or theft of your vehicle, new for old car insurance serves as a safety net. Certain cars may depreciate faster than others, so knowing that you can get a like-for-like replacement of your preferred car during the first three years of ownership helps lessen potential losses and ease concerns.
Will I receive a new car or do I need to purchase a new car myself?
Compensation will come in the form of cash reimbursement or a replacement car at DirectAsia discretion, assessed and approved on a case by case basis. Lodge a claim with us prior to purchasing a new car and we will advise you on the method of settlement and next steps.
What other optional benefits can I get with Comprehensive Cover?
Apart from new for old car insurance, Comprehensive Cover offers a selection of add-ons for you to customise your insurance plan such as:
- Personal Accident for Driver
- Medical Expenses for Driver and Passengers
- No Claim Discount (NCD) Protection
- My Workshop/My Authorised Distributor Workshop
- 24 Hour Breakdown Assistance
- Loss of Use
- Repatriation Costs
- My Accessories
Find out more about our optional benefits available for Comprehensive Cover, as well as our Third Party Fire and Theft and Third Party Only cover types.