The new sets of wheels, increasingly making their way to car-lite Singapore’s roads, finally have some insurance cover.
NTUC Income yesterday unveiled a new accident insurance plan geared towards cyclists and users of other personal mobility devices (PMDs) such as electric scooters and hoverboards.
Besides covering users for accidental death, permanent disability and medical expenses for injuries, the policy will also cover third-party liability.
This means up to $1 million in coverage for paying damages against third-party claims due to accidental injuries or damage of property. The policy will be available from next Monday, and costs $96 a year.
Last week, the Government accepted the recommendations of an expert panel to boost active mobility, which includes allowing cyclists and PMDs on pavements.
The rules are expected to be implemented by the end of the year.
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Derek Teo, chief executive of the General Insurance Association of Singapore, said: “People will become more aware of their rights in the use of public pathways.”
He added that PMDs could pose a danger to other users of public pathways, as well as the users themselves.
In the past few years, the number of deaths and injuries involving cyclists have risen. Statistics from the Traffic Police showed that there were 17 cyclists or their pillion riders killed in accidents, up from 15 each in 2014 and 2013. Some 590 cyclists were injured in accidents last year, a 17 per cent jump from 503 in 2014.
Annie Chua, vice-president for personal lines, NTUC Income, said having third-party liability coverage promotes “responsible cycling and riding” and will go “towards preventing hit-and-run incidences”.
Ms Chua added that the plan will cover $200,000 for death or permanent disability, if the accident is caused directly while using the bicycle or PMD. The insured can also claim for medical expenses of up to $2,500 per accident if he seeks medical treatment, provided he pays the first $100 of every claim.
Alfred Chia, chief executive of financial advisory firm SingCapital, said there is a wide range of personal accident insurance policies in the market, and while there may be exclusions on hazardous sports, activities like cycling should be covered.
“Basic personal accident plans do not have third-party liability but this coverage can be added on, and this has become a popular offering by insurance companies,” Mr Chia added.
adrianl@sph.com.sg
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