Car Insurance Account & Payment FAQs
Find the answers to all your account management and payment questions here. If you can't find what you need, Send us an email
How will the Singapore GST rate change affect my policy?
If you complete payment on or before December 31, 2022 your premium will include 7% GST.
If you complete your full payment on or after 1 January 2023, your premium will include the prevailing rate of 8% GST.
If you complete the purchase of a policy on or before 31 December 2022 under monthly instalment, 7% GST will apply and the upcoming increase in GST to 8% from 1 January 2023 will not affect the remaining monthly instalment payments deducted.
Does DirectAsia tie-up with any agent/dealer that I have to purchase the new car from?
Currently, we don't have any tie-ups with any agent/dealer.
Can I use my friend or family members' credit card to make my premium payment?
Yes, however we will require their authorisation to process payment via their credit card.
Can I pay monthly instalments?
Yes, you can pay your premium in monthly instalments with your credit card – no additional fees. In the event when you cancel or made a claim against your policy, you will be required to make immediate full payment of the outstanding balance of the instalments from the annual premium.
What information do I need before I can buy my car insurance policy?
Your personal details, your current NCD, car information and that of your named drivers. And of course your credit card details. It's that simple!
Can I buy your insurance policy offline?
Yes, just call us at 6665 5555 or come to our office at 20 Anson Road, #08-01, Singapore 079912. You can also visit our locations at Vicom.
What happens when I get my quote?
If you decide you'd like to purchase, you can make payment and print your policy documents straight away. If you need time to gather more information, the quote will be saved in our system and is valid for 90 days.
What documents do I need if I have to cancel my insurance policy with you?
Please ensure you have the following documents:
- Sale / Purchase Agreement by car dealer stating the details of the sale of the vehicle, and the effective sold date and handover date; OR
- LTA Notification Transfer of Ownership for the vehicle.
You may email us at [email protected]. Once we receive these documents, we will backdate the cancellation date to 1 day after the vehicle sold/ handover date.
Alternatively, you may also give us a call on our Customer Service Hotline at 6665 5555 from 9am to 7pm, Monday to Friday.
How is my refund computed for my insurance policy cancellation?
The refund premium is calculated based on the following conditions: Premium Refund = [Premium x (Unexpired Period of Insurance (Days) / Original Period of Insurance (Days))] – Applicable Cancellation Fee ($90 inclusive of GST).
Please note that the above is subjected to no claim/accident in current policy period and no outstanding money owed.
If I made an accident reporting and/or claim under my insurance policy, am I still entitled to a refund?
No refund will be given if there is an accident reported and/or claim made under your insurance policy. We reserve the right to collect any outstanding premium from you if you have opted for our instalment payment plan.
When can I receive my refund upon my insurance policy cancellation?
You can receive your premium refund via PayNow or bank transfer within 14 days.
Do all insurers adopt the same method to compute the refund?
No, different insurers have different methods of computing refunds.
Can you refund me via cash or cheque?
We can only do a refund via PayNow or bank transfer.
Why must I pay a higher premium when the market value of my vehicle is depreciating?
There are many things taken into consideration when calculating premiums particularly risk factors including vehicle model, capacity, and driver's profile. The market value of the car is not considered to be a direct risk factor because it does not influence the claims received from third parties for property damage and injuries. A higher price may also be driven by inflation - increased vehicles repair cost, legal fees and medical costs which would then impact insurance premiums.
I haven't made any claims so why is my renewal premium higher?
If the overall claims experience is bad that year then insurance companies have to increase their premiums across the board for all motorists irrespective of whether you have made a claim or not. If you have a clean driving record, though, your premium will still be lower than those with accident claims.
Can I change my policy plan (TPO/TPFT/Comprehensive) midway through my policy period?
We do not allow a change of plan in the middle of the policy. It can be done, however, upon renewal.
Can DirectAsia cancel my policy if I did not truthfully declare all information while buying my policy?
Yes. If you do not fully and faithfully tell us everything you know or could reasonably be expected to know that is relevant to our decision to give you the insurance, you may receive no benefit from your policy or we may cancel your policy and treat it as never having existed. The admin fee for cancellation is S$90 (inclusive of GST).
Is my car insurance policy covered by the Policy Owners' Protection scheme?
As a fully licensed insurance company registered by the Monetary Authority of Singapore, we are a member of the PPF Scheme. Your car insurance policy issued by DirectAsia is covered by the PPF Scheme. For more details please go to www.gia.org.sg or www.sdic.org.sg.
Can I cancel my policy?
You can cancel your policy at any time by giving us 7 days' notice subject to cancellation fee of S$90 (inclusive of GST). Please note that the above is subjected to no claim/accident in current policy period and no outstanding money owed.
What if I have a dispute with DirectAsia?
We are committed to providing you with quality insurance products and services but if any dispute arises out of your insurance policy that we cannot resolve between us, then that dispute may be submitted to the Singapore Mediation Centre for settlement by mediation in accordance with the mediation procedure in force.
How do I renew my Policy?
You can choose to automatically renew and we will deduct the amount from your credit card when the time comes. If you don't opt for automatic renewal we will send you an invitation to renew.
What if I need to make changes to my personal details?
Please call our customer service centre hotline at 6665 5555 Monday - Friday: 9am - 7pm or email us at [email protected].
Can I make amendments to details in my insurance policy (e.g. named drivers)?
You can contact us to request a change to be made to your cover. Call our customer service centre hotline at 6665 5555 Monday - Friday: 9am - 7pm or email us at [email protected].
Please give us 7 days' notice for the change to take effect.
What is the Policy Owners' Protection Scheme? Is DirectAsia in the scheme?
The Policy Owners' Protection Scheme (PPF) protects the interests of policyholders in the event an insurer fails. It provides added assurance that there is a compensation scheme for policy owners to reduce the financial impact on individuals in the event an insurer defaults. The PPF Scheme is administered by The Singapore Deposit Insurance Corporation (SDIC). As a fully licensed insurance company registered by the Monetary Authority of Singapore, we are a member of the PPF Scheme. For more details please go to www.gia.org.sg or www.sdic.org.sg.
Will there be a charge if I request for a copy of the policy documents to be mailed to me after I have opted to go paperless?
All your documents are readily available online when you access 'My Account' via DirectAsia. However, if you need help, please call us at 6665 5555. We'll be happy to assist.
Can I backdate my car insurance policy cancellation?
Cancellation is allowed to be backdated up to the selling agreement of your insured vehicle. We will require the selling agreement as a proof to process the cancellation request.
Can I pay by instalments now and make full payment for outstanding amount later?
Yes, please call us at 6665 5555 to do so. We'll be happy to assist.
What are the available payment options? Do you accept eNets?
We accept Credit Card payment (Visa/MasterCard) and you can pay your premium in monthly instalments with your Credit Card at no additional cost.
Why is LTA not updated of my car insurance renewal?
The process to update LTA is not instantaneous. If your renewal is done before 4.30pm, it will be reflected on LTA records at 8pm on the same day if there is no errors. Renewals submitted on Friday after 4.30pm will only be processed on Monday as updates to LTA is not available on weekends. We recommend that you submit your renewals at least a week in advance to prevent any lapse in your car insurance.