Car insurance is a contract between you and your chosen insurance company. The contract protects you against financial loss in the unfortunate event of an accident or theft. In exchange for paying a premium, the insurance company will cover your losses as outlined in your purchased insurance policy.
Just bought a brand new car? A vehicle is a big-ticket expense which you want to protect, and that’s why we highly recommend that you get car insurance. It’s a necessity which can help pay for repairs to your vehicle after an accident, depending on what kind of coverage you select. Like other types of insurance, getting the cheapest car insurance should not be the only priority for car owners. You'll need to think about how easy claims can be processed and how much actual coverage you're getting for the amount you pay.
The best way to ascertain this is by relying on real user reviews by customers who have purchased car insurance before. And here at Seedly reviews you can even get other reviews to find the best travel insurance Singapore, the best credit card Singapore, and even the best savings account Singapore.
With almost everything available online, did you know that you can now get a car insurance quote online? Here are the details you will usually need in order to apply for a car insurance in Singapore:
There are a few major car insurance providers in Singapore. The more popular ones are:
When choosing the best car insurance for yourself, the one with the cheapest premium may not always be the best. And that's because:
The excess is how much you pay up front before your insurance company pays the rest. So if your claim is $500, and your excess is $500 then you're going to have to cough up the entire amount. As careful as you may be, you never know what the road conditions are like. So be careful if you're paying a low premium, because you might need to pay a larger excess.
A No-Claim Discount (NCD) applies on the number of years you do not make a claim against your insurance company. So the longer you go without a claim, the higher your NCD. In fact, you can even buy add-ons like a NCD protector that will allow you to make one claim before your NCD is affected.
Whether you currently own a car or are looking to get one, you'll definitely want to know how much is car insurance in Singapore, and which car insurance is better in Singapore!
Besides our reviews, you can also read up on various articles with regard to the expenses you might incur when you own a car: