Car Insurance Singapore: How It Works

Why is it important for you to know more about car insurance Singapore? The rules about auto insurance Singapore before September 1989 are completely different from the ones implemented today. Your idea about it may not be the truth these days.

The motor insurance quotes a long time ago are based on the Motor Tariffs Table, which considered a number of factors such as the engine capacity, carrying capacity of the automobile, and use and value of the car. Later, it was changed to Points Rating System, where the characteristics of the owner or the driver are taken into consideration. These include occupation, age, marital status, and gender. In July 2001, the latter system was improved and turned into Risk Factor Premium Rating System, which included the claims experience and the risk profile of the vehicle’s owner.

How Such Information Can Help You
With its history, you will be able to learn quite a few things that will be helpful during your auto insurance comparison:

The auto insurance Singapore quotes will differ.
It does not matter if you are applying for online auto insurance or for insurance from your local insurance agent. The different factors will still be used in determining your premium, deductible, even if you are going to get an insurance policy for them or not.

However, to make it easier for you, you can streamline these characteristics to the following:

•Vehicle (make, model, age, engine capacity, use)
• Driver’s experience
• Driver’s claim history
• Type of coverage
• Driver’s profile (age, sex, occupation)

Get as many quotes as you can.
Do not limit your choices to just one, two, or even three insurance companies. It is ideal to have around 6 to 10 insurance quotes for a particular coverage that you are looking for. You can see how each insurance company view your application and discover who among them can provide you with the much-needed coverage at the lowest cost.