Similar to most anything, finding the best of the best usually involves a lot of opinions centered on a few hard facts. The same applies to car insurance in general; the best car insurance in Singapore for you may not be the best insurance for someone else. For instance, you may not be interested in total vehicle loss coverage, but someone else may consider car insurance to be severely lacking if it doesn’t boast such a feature.
Next up, we’ll have a look at some of the main points to keep in mind when trying to pinpoint which car insurance in Singapore is better equipped to suit your specific needs.
1. Get a clear picture of what it is you want
The first step to finding the best insurance is to fully grasp what it is you actually expect to get from your coverage. For instance, if you’re simply looking for inexpensive third party liability coverage with no extra strings attached, perhaps in this case the cheapest insurance may qualify as the best; however, if you’re looking for something a bit more complex, other factors may come into play during the evaluation.
Depending your preferences, elements such as the company’s customer service or agent response times might end up being your first concern; that is if the actual coverage plans aren’t already your main concern.
Typically, most people will factor in all four elements in an attempt to balance them out, meaning that usually insurance companies with:
- good customer service,
- quick response times,
- as well as comprehensive coverage,
- all for a reasonable price,
will commonly be rated as the best car insurance companies on the market.
2. Compare quotes and potential discounts
After finding out what it is that makes your car insurance clock tick, the next step to finding the best car insurance in Singapore would be to make a basic comparison between the rates charged by each motor insurance provider. To make this task easier, a good option would be to use our very own online smartsearch calculator, designed here at GoBear to provide you with easy and quick side-by-side quote comparisons of a long list of insurers and their respective plans.
Also, to get a better idea of the actual premium costs, you’ll need to check whether you’d be entitled to any form of discount, and afterwards include that discount into the auto insurance rate comparison. Discounts such as NCD benefits, safe driver discounts, restricted driver options and low-mileage discounts come to mind.
3. Do your research on the insurer’s background
Normally, you’ll want to make sure that the candidate for best insurance company is both financially stable, and has a good customer service track record. To get a clear idea of how well an insurance company is doing regarding its financial backing, you may need to check on their credit ratings. A common source for this type of information would be Standard & Poor’s website, although other credit rating agencies are just as good.
Getting to know an insurer’s track record requires a bit more research, however. You may need to ask acquaintances for first hand opinions on their car insurers. A good strategy would be to get in touch with the motor insurance companies themselves, either through an agent or through their very own social network accounts, with a number of questions so you can establish your own opinion on the company’s customer service and agent response times.
Additionally, you could also go online and check for customer reviews, as well as professional reviews.
4. Attempt to customize your coverage if possible
Comparing coverage can be as complicated as going through each insurance policy line-by-line or as simple as using an online rating tool, such as the one featured in our very own search engine.
Whichever the method, when looking for the best car insurance in Singapore, a key feature to keep an eye out for would be the possibility of customizing your insurance policy.
With a personalized policy, you can choose whatever options best suit your needs. Extras such as the option to choose your preferred auto repair shop, a chance to waiver excess fees, or a chance to hire NCD protection can make any ordinary insurance your very own.
5. Contact the insurance company’s agents
By getting in touch with a company’s agent you could potentially uncover new deals and bundles that could end up changing your opinion about a specific car insurance company. Agents can help you find the best insurance plans within a single insurance provider; however, comparisons made by agents regarding different car insurance companies could end up being biased towards the company they’re working for.
6. If all else fails, consider contacting an insurance broker
If you still haven’t made up your mind about which car insurance provider in Singapore could be considered the best, then perhaps a good option would be to contact an insurance broker. With an unbiased opinion, insurance brokers can do the research for you and help you choose the best insurance provider, although for fee.