Motor Insurance: Tips & Hints
Q4) How to get cheap Motor Car Insurance in Singapore?
In Singapore, it is compulsory for all car owners to have Motor Car Insurance
coverage which is renewed annually. Prices of insurance policies (also
known as premiums), generally vary depending on the following:
motor car insurance has their own set of criteria for their risk assessment to
determine the price of your premium. Besides that, each of these insurers
offers different coverages (e.g. Some insurer offers Authorized Workshop
schemes Plus Agent workshops as well. Thus, you would not need to
purchase a Non-Authorized Workshop scheme if going back to your Agent
Workshop is one of your requirements). To add to the confusion, from time
to time the calculation of premiums for any of these insurers could change
due to changes in their underwriting criteria.
When a quotation comparison of premiums is done, you would notice that it
is very common to find that the premiums of the differing insurance
companies vary hundreds of dollars! With all these variables, it makes it
difficult for any individual to find out which insurer will be offering you the
most suitable coverage and which premium price will be lower for your car
today!? You would probably need to call each of these insurers for a quote
just to do a comparison. Imagine the time spent calling, trying to understand
the coverage advantages of each insurer and not to mention the time taken
to queue to get your policy issued.
Tip: At Star Capital Insurance, we do ALL these and more for you. We
provide a FREE Motor Car Insurance Quotation Comparison Service for new
or renewal of cars in Singapore, we’ll explain your coverage or any other
enquiries you have (if you require), help you renew your road tax even (if you
require) and all you have to do is Contact Us! How easy can that get?
Need more Information?
Contact us and we'll provide you the information as best we can.
Q4) How to get cheap Motor Car Insurance in Singapore?
In Singapore, it is compulsory for all car owners to have Motor Car Insurance
coverage which is renewed annually. Prices of insurance policies (also
known as premiums), generally vary depending on the following:
- 1. Your profile (and your driver’s if any)
- a. Age
b. Gender
c. Marital status
d. Occupation
e. Driving experience
f. Past 3 years accident claims history
- 2. NCD/NCB
3. Type of Coverage
- a. Comprehensive
b. Third Party, Fire & Theft
c. Third Party
- 4. Higher Voluntary Excess
motor car insurance has their own set of criteria for their risk assessment to
determine the price of your premium. Besides that, each of these insurers
offers different coverages (e.g. Some insurer offers Authorized Workshop
schemes Plus Agent workshops as well. Thus, you would not need to
purchase a Non-Authorized Workshop scheme if going back to your Agent
Workshop is one of your requirements). To add to the confusion, from time
to time the calculation of premiums for any of these insurers could change
due to changes in their underwriting criteria.
When a quotation comparison of premiums is done, you would notice that it
is very common to find that the premiums of the differing insurance
companies vary hundreds of dollars! With all these variables, it makes it
difficult for any individual to find out which insurer will be offering you the
most suitable coverage and which premium price will be lower for your car
today!? You would probably need to call each of these insurers for a quote
just to do a comparison. Imagine the time spent calling, trying to understand
the coverage advantages of each insurer and not to mention the time taken
to queue to get your policy issued.
Tip: At Star Capital Insurance, we do ALL these and more for you. We
provide a FREE Motor Car Insurance Quotation Comparison Service for new
or renewal of cars in Singapore, we’ll explain your coverage or any other
enquiries you have (if you require), help you renew your road tax even (if you
require) and all you have to do is Contact Us! How easy can that get?
Need more Information?
Contact us and we'll provide you the information as best we can.
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