All car owners in Singapore must have motor/car insurance to be able to transfer the vehicle to their name or to renew their road tax. Furthermore, car insurance policies can compensate for any third party liabilities. At the same time, it can minimise any financial loss on your part if you encounter a road accident. And depending on your insurer and insurance coverage, they will pay for any damages. So if you’re searching for a car insurance policy, make sure to contact G&M. With multiple award-winning titles, G&M is considered to have some of the top car insurance in Singapore by many.
Meanwhile, let’s find out the various ways of looking for cheap car insurance. Read on below to know more.
Compare Quotes Using Auto Insurance Comparison Websites
One of the things you can do is visit auto insurance comparison websites. These websites will tell you where to get the cheapest car insurance policy with the coverage you’re looking for. At the same time, you get to shop around for some of the most competitive rates. Furthermore, you won’t be looking at insurance policies from big companies. You will also find the best deals from smaller insurers. Of course, you can always review these insurance policies with an insurance agent to get a better understanding of the coverage.
Know the Risks that May Affect Your Insurance Premium
Apart from your driving record, there are many other factors that will affect your insurance premium. For instance, some countries will consider your credit score. Apart from that, the make, model, and brand of your car can affect your insurance premium. Therefore, the more expensive your car, the higher your insurance rates will be. Next, some insurers will consider how many miles you drive per month. Finally, others will consider your age and marital status. Overall, these are the factors that may or may not affect your insurance premium once you’re ready to purchase.
Think About Your Liability Coverage Limits
One of the most important things you must do when choosing an insurance policy is considering your liability-coverage limits. Liability insurance mainly consists of three factors which are bodily injury coverage, property damage liability, and uninsured motorist coverage. You can choose to add more coverage. But of course, it will add more cost to your overall auto insurance rate. But before considering your minimum coverage requirement, consider your assets, such as your home and other properties. They could all be at risk if you encounter an accident that results in medical or property damage costs. It has to reflect the minimum value of your combined assets.
