What Is Car Insurance?

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.

Why Do I Need Car Insurance?

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.

What Do You Need To Apply For Car Insurance?

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:

• Vehicle make and model
• Engine capacity of your car
• The year your car was registered
• Whether your car is under the Off-Peak Car Scheme
• Gender
• Marital status
• Date of birth
• Other information like: How many years have you been driving? Have you made a claim in the past? What is your No-claim Discount (NCD)? What is your coverage period?

Where To Find The Best Car Insurance Singapore 2019

There are a few major car insurance providers in Singapore. The more popular ones are:

• FWD Car Insurance
• NTUC Car Insurance
• Aviva Car Insurance
• DirectAsia Car Insurance
• AIG Car Insurance
• MSIG Car Insurance
• AXA Car Insurance
• Etiqa Car Insurance
• Ergo Car Insurance
• Sompo Car Insurance
• Tokio Marine Private Motor Car Insurance
• India International Insurance
• Liberty Insurance Private Car Insurance
• Hong Leong Car Insurance

Best Car Insurance in Singapore 2019

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 higher your excess, the lower your premium

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.

• No-Claim Discount is your ticket to a cheap car insurance

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.

Tools To Choose The Best Car Insurance For You

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:

• Ultimate Driver's Guide To The Best Car Insurance In Singapore
• Top 6 Ways You’re Spending Way Too Much On Your Car
• Cost Of Getting A Car In Singapore
• Renting A Car VS Buying A Car In Singapore: Which Makes Sense?

If there are still questions after reading Real User Reviews, feel free to ask our community of experts and experienced professionals at Seedly QnA.