The Main Reasons Why You Need a Motor Insurance in Singapore

Everyone who has a vehicle naturally needs car insurance. It’s compulsory, and you wouldn’t want to risk your vehicle during an accident. Furthermore, depending on the type of coverage you purchased, you will be protected from financial and legal liabilities towards a party. At the same time, there’s coverage that covers your vehicle against damages from fire, accidents, theft, natural calamities, and more. So if you’re currently searching for an insurance company, let G&M help you out. You will never be disappointed with service from G&M, contact them to learn more about their car insurance in Singapore today. Meanwhile, let’s learn about the benefits of getting insurance for your vehicle.

Covers Your Vehicle Against Damages

As mentioned above, the type of coverage you get will depend on what type of insurance you purchase. For instance, you applied for a comprehensive insurance policy. This kind of policy will cover or protect your vehicle from any games resulting from theft, fire, accidents, cyclones, and more. However, the insurance company won’t honour the insurance if they find out that the accident is your fault. Furthermore, this car insurance policy will cover any losses due to terrorism, burglary, theft, riots, and other destruction due to the same nature.

Covers Personal Accidents

There’s another type of insurance that has a personal accident cover for a pre-determined amount. It will provide protection against permanent total disability or death due to accidents. Moreover, this type of insurance can be taken for passengers on an unnamed basis for a pre-determined amount under the car insurance policy.

Minimise Financial Losses

In Singapore, all car owners need to have a motor insurance policy to transfer the vehicle to their name or renew their road tax. Furthermore, it will indemnify you from third-party liabilities and minimise any financial losses during road accidents. As mentioned above, it all depends on your insurance policy. If you get the right one, your insurer will pay for the damages to the vehicle, public property, and medical expenses to the third parties. Fortunately, G&M will help compare any price quotes from the various insurers so that you can find the right one for you.

Knowing the Best Insurance Policy for You

There are some things you need to ask yourself to find the right insurance policy. First, know what type of vehicle you have. Next, know the potential drivers of the vehicle. Lastly, is your existing car insurance sufficient for medical costs and personal accidents? From the questions above, you can see that it will differ from driver to driver.