How To Find The Best Car Insurance Plan In Singapore

One of the things that many people do not know is that it is mandatory to have your car insured in Singapore. So, you should make the most of it by looking for the best car insurance plan in the city, especially when your policy is up for renewal.

It can also be tempting for some people to choose their existing car insurance plan and go ahead with it by renewing it, but again there are chances that you are missing out on a better deal. It is possible that with the other insurer you can get a low-cost car insurance premium. You will have to get a quotation online because the insurance premiums depend on the profile of the driver, and the make and model of the car.

These days, several car insurances plans have come up with great features that provide different needs, be it personal roadside assistance or young driver coverage, or the workshops that are located close to your areas. To know about the best car insurance Singaporeyou need to look for the following when buying car insurance.

Type of Car Insurance

Before you choose to take any insurance coverage for your car, you need to look at the type of coverage. There are 3 types of car insurance plans they are as follows.

The first type of coverage is, ‘3rd Party Only’ – this is the most basic plan and covers injury or death to the 3rd party and it also includes damage to others’ property. This will not cover damage to your own vehicle. Next, is ‘3rd Party, Fire & Theft, ‘– this covers mainly fire damage or theft of your vehicle. As usual, this does not cover other damages to your own car. Lastly, ‘Comprehensive’ insurance includes 3rd party fire and theft and covers repairs or replacements required for damages (accidental) to your car. It also includes medical and personal accident coverage of expenses.

The bare minimum that you will get for your car is from 3rd party. If you are looking for more complete coverage then you should choose the comprehensive plan as it covers all the damages to your vehicle.

You can also look for good travel insurance provided by HL Assurance Pte. Ltd. and others.

The excess that You Are Willing to Pay – 

Here the excess would mean the maximum amount that you can pay out of your purse in an event of a claim. However, this excess is the amount that you can pay during the event when it’s your fault. For instance, if your excess in the policy is S$500, and your claim is for S$ 3000, you will only have to pay S$500, and the insurance company would pay the remaining amount of S$2,500. How much you are willing to pay in policy excess in the event of an accident will also affect the car insurance plan that you choose.

So, in general, the high the excess the lower the premiums and vice versa. This is one of the ways to make your insurance premiums low.  Though Singapore is a very friendly nation, it is pivotal to secure your travel agenda and belongings. Common incidents like loss of bags, and flight delays can affect the plan and also sickness, therefore getting a travel insurance is pivotal in your Singapore tour plan.

Read: why is it important to buy travel insurance in Singapore? 


Workshop of Your Choice or Authorised One


Many of the car insurance coverage that people buy would encourage the repairs of the car to be done only in several of the authorised workshops approved by the insurance companies. This will assure both the insurance companies as well as the buyer of the quality of repair and the price of repair.

However, if you have your choice of workshop and would like the flexibility to have your car repaired at that workshop, then you will have to choose a plan that offers such an option. If you choose car insurance plans with repairs at any workshop or workshop of your choice then the premiums will be higher.

News Reporter