As with any insurance, you need to be careful when requesting car insurance. As a vehicle owner you are exposed to multiple risks, such as theft or accidents. Comprehensive Car Insurance in Singapore will help cover these costs, but you need to ensure you get the best value from the best insurers.
Here are some of the benefits you should look out for in the policy. If the details are not mentioned in the policy, you should ask your insurer about it.
Personal Accident Coverage
Personal accident coverage is included in comprehensive insurance. Third party only (TPO) and Third Party Fire and Theft (TPFT) policies don’t cover the driver, so you lose out on the benefits in comprehensive car insurance.
Comprehensive car insurance offering personal accident coverage guarantees that the driver is protected in the event they are involved in an accident. Ask your insurer the limit of the hospital expenses.
You should also consider a worse scenario, compensation in case of physical incapacitation after an accident. Knowing the details of the coverage, especially when comparing car insurance quotes will help you choose a plan that gives you greater value.
Get Repairs From A Workshop Of Your Choice
Some insurance companies dictate where you should repair your vehicle when you get car insurance Singapore from them. Many car owners are uncomfortable about using a mechanic they have never used.
Ask the insurer if you can use your preferred workshop. Some insurers tend to offer waivers up to a specific amount for any excess the client pays when they go to authorized workshops.
Road Emergency Assistance
Car troubles can occur unexpectedly and you need to find out if the car insurance covers emergency assistance, such as a 24-hour towing service. Some insurance companies work collaborate with companies offering roadside insurance service, and this cost is covered in comprehensive car insurance. If you can get this, you’ll get value from the coverage.
No Claims Discount
It is never too early to ask what happens if you don’t make any claims. It sometimes feels like a waste of money when you pay insurance premiums but never claim compensation. However, you never know when you’ll need to request compensation.
Having comprehensive insurance gives you peace of mind knowing you, your car, and third parties are covered should you be involved in an accident.
However, if you don’t make claims after a few years, some insurance companies offer no claims discounts.
You should ask about this to see how much savings you’d make in the premium, and how long you’d need to wait to enjoy these benefits. Unfortunately, NCD is only valid for as long as you make no claims. Should you be involved in an accident, and you are at fault, your NCD will be affected.
You may lose a percentage of the discount, but you will still pay less premium than you used to when you first bought car insurance.
When you understand the policies, you can ask the insurer to calculate the premium based on the risk they are taking on. Once the insurer realizes you are a relatively safe driver, with no history of claims, you can request for a lower premium, giving you greater value.
The competition in the insurance industry has forced companies to be as creative as possible with their policies. You can take advantage of their flexibility to ensure you get car insurance tailored to your needs.
