Choosing the car that will suit your needs and wants is challenging, so is buying car insurance. What makes it even more of an exigent task is the fact that you need to filter which among the many auto insurance providers offers the protection and coverage and, at the same time, value for money.
If you have just bought a car and now in the process of comparing among the several car insurance providers, Autoshield is here to walk you through by means of listing down the most important tips every car insurance buyer should take into consideration.
1. Know which type of car insurance you need
For those who are amateurs when it comes to the duty that comes along with having a car, it is very important to know that getting car insurance is mandated by Singapore’s Road and Safety Act. In line with this, the first vital step that needs to be put into mind before you can compare car insurance is choosing among the three types of motor insurance offered in the country.
- Third Party Only Insurance: This type of insurance policy is considered the most basic and economical since it is intended to provide the minimum coverage mandated by law. The Third Party Only Insurance offers policies that cover death and/or bodily injury to third parties, as well as damage to third party property; hence the name.
- Third Party, Fire, and Theft Insurance: As the name of the insurance tells, this type of insurance offers policies that cover your vehicle against theft, damage from attempted theft, and damaged by fire.
- Comprehensive Car Insurance: Aside from the benefits that you can get from the two mentioned types of car insurance, this one offers an extended coverage wherein both the car owner (you) and the car itself will profit. No wonder it is considered as the most superior level of insurance, which makes it the best choice for those who own a high-value vehicle.
2. Assess the optional extras
Considering that owning a car in Singapore is an absolutely expensive thing, most probably than not, one of your top concerns is how to make it more secure. The good thing is there are optional extras you can add in order to increase the level of protection for your motor insurance. Some of the add-ons that you may want to include in your insurance policy are: vehicle towing coverage, No Claim Discount (NCD) protection, personal accident, and medical expenses cover, windscreen protection, and a lot more.
3. Comparing car insurance providers
When choosing the car insurance that will fit both your needs and wants, expect that you will bound across several companies offering diverse policies at different prices. Some may be expensive while others are friendly to your wallet. But the tricky part here is choosing between the high-priced insurance and affordable one. That is why assessing the car insurance policies will both suit you and the vehicle you’re going to insure is important. Plus, ask yourself whether it is worthwhile to go for the coverage you have in mind. Remember that the low price is not an indication of the best car insurance ─ the same thing goes when it comes to the expensive ones.
In order to make the right decision in comparing car insurance, you must first check out the online reviews of the car insurance companies that you prefer, however, do take note that not all you see online are legitimate. That’s why you need to verify carefully. Another thing is to ask for help from a person who is knowledgeable enough to provide car insurance quotations. And by this, we mean seeking assistance from one of our experts in Autoshield.
4. Be familiarized with car insurance terms
Understanding what car insurance is and how it works is something that a person won’t get right away. In this point, getting yourself equipped with knowledge about auto car insurance is a very crucial factor in order to enjoy the right coverage for your vehicle. The good news is we can help you be familiarized with car insurance terms by checking out our blogs.
5. Coverage in Malaysia
Given that Malaysia is the neighboring country of Singapore, many Singaporeans are traveling to the countryside more often. If you are one of the people who just love exploring the beautiful places and worth-a-go hawker centers in various states of Malaysia, then it would be better if you consider getting a car insurance policy covers you and your car when you’re across the Causeway. On the other hand, when upgrading your coverage, make sure to check with your insurance provider whether they offer protection outside the country.
6. Safe driving equals a lower insurance premium
Yes, car insurance companies also let you enjoy discounts when renewing your policy. How? Being a cautious driver who does not make any claims for consecutive years means getting the benefits of No-Claim Discount (NCD). For every year that you do not make a claim, a 10 percent discount will be given the moment you renew your policy. So if you keep being a safe driver for five repeated years, you will only have to pay for half the cost of your car insurance premium.
For quoting and comparing among several auto insurances in Singapore, you can reach us, Autoshield, through our customer service hotline 6385 0777 or by sending SMS to 8588 9191, 8686 9991, 8688 9991, 8588 9991, 8866 9991, 8868 9991, 8668 9991.
