Owning a car comes with a few additional expenses and responsibilities, especially in countries where owning a car is expensive. Apart from the unavoidable maintenance costs, Singaporean drivers must insure their cars to shield themselves and their cars against risks associated with driving on the road.
That said, despite picking insurance because it is a necessity in Singapore, you should be keen when choosing a motor insurance company to avoid trouble when seeking coverage in case an accident occurs. Riders as well should get motorcycle insurance to protect their prized assets and themselves. Well, whether you are buying motor coverage for your car or motorcycle, it is imperative to compare quotes from different providers so you can get the best deal for your needs and budget.
Different insurance companies have different quotes which favour different riders and drivers depending on their needs. This article covers some of the ways that motorists and drivers can use to effectively compare insurance quotes and choose the best.
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Ways to effectively compare insurance quotes
Before you buy motor insurance, here are some ways through which you can compare quotes and save more.
1. Shop around
Make sure you get to know exactly what is included in your policy when shopping for an insurance policy. Compare the deductibles and liability limits. Even though you will wish to seek the cheaper quote and save some dollars or other things, remember, cheap is not always the best. Once you realise that a quote is insufficient to cover your car risks, it’s advisable to seek another quote. The aim is to choose a quote that fits your insurance needs so that in case of an accident, you will be adequately covered despite the extent of the accident.
2. Consider insurance agents
There are several insurance agents in Singapore selling insurance policies for different companies. Such agents are knowledgeable and can explain to you the various quotes of different companies and help you select a quote that fits your needs and financial capabilities.
3. Check car insurance rankings
One of the effective ways to get a sense of what quotes you expect for your car insurance is considering car insurance rankings. Typically, cars with lower than average ranking attract lower quotes, while those ranked higher are expensive to insure, particularly if you are obtaining a comprehensive plan.
4. Get a multi-product discount quote
Several Singapore-based insurance companies offer discounts to those customers buying more than one product. For other companies, they offer discounts on certain quotes. If you like taking advantage of discounts to help you save, you can go for the quotes with discounts.
While tapping on discounts, always make sure the quote provides enough coverage for your motorcycle or car.
5. Consider using group insurance
Include a group insurance plan when comparing quotes to get high discount rates. Most insurance companies will raise discounts to group policies to encourage individuals to join a group before buying a motorcycle insurance policy.
6. Discounts for safer drivers and riders
Being a safe driver saves you from many road expenses and could help you get better deals on insurance policies. For the most part, this means if your driving record indicates a minimal or no accident in a certain number of years, you can land a cheap quote. This is because your chances of getting involved in an accident are very minimal.
Conclusion
When seeking insurance for your vehicle, there are several considerations you must make, and one of the most vital is choosing a quote. Hopefully, this article will help you choose and sign up for a quote that is convenient for your car or motorcycle needs and financial capabilities
