The prime purpose of car insurance is mainly to provide financial protection against some kind of physical damage that is caused to the vehicle due to an accident or the loss of the vehicle. Some of the important facts to know about the car insurance sg have been discussed in this article.
Tips one must consider for buying the car insurance
Below are some of the important facts one must consider for buying car insurance:
- Before looking for the different car insurance companies, it is necessary to understand their insurance requirements.
- It is a very difficult task to select a trustworthy car insurance company. But, it is now easier to study as well as research about various insurance companies. One can get to know about their offers as well as reputation by simply visiting their official websites.
- It is also necessary to take into account some of the different factors such as premium rate, as well as the benefits offered. One can be able to find out the premium amount with the help of an online premium calculator. This is mainly available on the insurance company websites for better comparison.
- The insurance policy documentation is mainly filled with different legal terms which may be difficult for the newbies to understand. But it is necessary to read the policy documents as well as get all their queries clarified with the insurance company.
- If someone has purchased some of the insurance products from an insurance company, they may be eligible to receive loyalty discounts on car insurance if they mainly buy it from the same insurer. So it is necessary for the buyer to check if they are mainly eligible for the same.
Different types of car insurance in Singapore
- The third-party only is mainly the cheapest form of car insurance in Singapore. This type of insurance mainly provides coverage only for other people when the damage caused is mainly proven to be the fault of the insurer.
- Third-party fire and theft are mainly the same as TPO insurance. However, this type of insurance mainly includes extra coverage such as loss or damage that is being caused by fire and theft. This is mainly expensive in comparison to third parties only.
- The comprehensive type of insurance mainly covers all types of loss and damage.
These are some of the important facts to know about car insurance in Sg.