The right online insurance for car owners can assist in safeguarding you, your loved ones, your passengers, and other motorists. If an accident occurs, you want to be sure that you have the appropriate coverage to pay for any potential property damage or bodily injury expenses.
Bubblegum Singapore is the proud team that was built by MoneySmart, and we provide affordable and comprehensive online insurance for car owners in Singapore. In this article, we will answer common questions about this type of coverage.
How Does the Claims Process Work?
Suppose you are involved in an accident and need to make a claim. You can reach us at our roadside assistance number, +65 9131 1010. By calling this hotline, an agenct can come to the accident site to guie you through the report and following claims process. You will need to submit a claim detailing the details of the incident, and we will get back to you if your claim has been approved.
Why Are Some Insurance Claims Rejected?
It is important to remember that online insurance for cars has certain limitations. For example, If you are found to be driving under the influence, your claim will not be approved. The same goes for driving unlicensed and modifying your vehicle.
What Are Some of the Benefits of Having Car Insurance?
Auto insurance offers a plethora of benefits. If you cause an accident, you could be liable for the cost of property damage and injuries to another party. This may also include additional damages, such as lost income and legal fees.
Insurance also aids in preventing the depreciation of your car. Some insurance packages support preserving the value and lifespan of your car. Natural catastrophes like hailstorms can’t be prevented from wrecking your vehicle. However, comprehensive insurance can reduce your damages and ultimately cost less.
Additionally, knowing that your policy protects your family against financial losses provides peace of mind. It could be challenging to pay for your car’s repairs if you don’t have insurance to cover the charges, and if you rely on your vehicle as a form of transport, it could put considerable strain on you and your family.
What Affects the Cost of Premiums?
Several factors determine the cost of your premiums. This includes:
- The make and model of the vehicle. Some cars cost more to insure than others. This is because car parts for that particular make and model are more expensive.
- How old the car is. In many cases, older vehicles are more affordable to insure simply because it is cheaper to repair them or replace damaged parts.
- Driver history. If you are a notoriously dangerous driver and have made several insurance claims over the years, the chances are that your premiums will be higher.
Do Insurers Offer Discounts for Clean Driving?
Yes. Most insurance companies reward good drivers with lower premiums. Obtaining the Certificate of Merit (COM), a document provided by the Traffic Police for three years of safe driving, will qualify you for a reduction in insurance costs. This is because you are considered a low-risk driver by the COM, which promotes road safety.
You must have been without driving offenses for at least three years before applying for a COM. This implies that to qualify for a COM, you cannot accumulate any penalty points for three years before obtaining your auto insurance policy.
Does Insurance Cost More for Young People?
The premiums for your motor vehicle insurance plan may decrease as you age, in contrast to other coverage types, such as critical illness and life insurance, that get more expensive as you mature.
This is especially true if you avoid accidents and fail to file a claim on your auto insurance policy to benefit from a higher no-claims discount.
You won’t have a no-claims discount when you first buy a car.
Car insurance is essential for all motorists in Singapore. To find out more about our plans, you can contact us today for a quote.