It is understood to all and sundry that if you buy the best motor insurance Singapore, it is mandatory to have insurance cover. Also, it is compulsory to buy third-party insurance. Even though the insurance is compulsory, it is all the more important for one's safety, financial security and peace of mind. Motor insurance is also termed 'auto insurance,' 'car insurance' or 'vehicle insurance' and is insurance bought for a car, motorcycle, truck.

The moment you think of buying a motor vehicle, the first thought to come to your mind should be to buy a fully comprehensive insurance plan for your motor vehicle with third-party cover. The full comprehensive cover with third-party cover absolves you of all the liabilities of the motor vehicle so also third-party eventualities. You are covered against vehicle's theft, loss, damages, hand-made and natural calamities, cyclones, etc. In the event of the accident, you enjoy cashless facilities in thousands of empanelled hospitals of the insurance company towards hospitalization, broken limbs, cancer, heart attack, brain hemorrhage, burns, surgery, doctor's fees, etc. In a case of death of third-party, mind you compensation may run up to lakhs and even tens of lakhs of rupees depending on the age, social standing, dependents, etc. of the deceased. The expenditure on third-party's physical injuries like broken limbs, burns, etc. may also not be less either. All third-party liability is that of the insurance company. You have to ensure only one thing that your policy stands renewed in time.

What is Auto Insurance?

Auto Insurance means an insurance policy bought by a vehicle owner to mitigating costs in the event of meeting with an auto accident. In such circumstances, the insurer does not pay for his own. Instead, he pays annual premiums to the auto insurance company. The company, in turn, pays all or almost most of the charges towards the auto accident or any other vehicle damages.

Auto insurance premiums differ depending on age, gender, driving experience, safe driving, accident and traffic rules violation record, and certain more factors. Many people prefer to purchase extra insurance cover to protect themselves in a better way.

A bad driving record or the urge for more coverage will need to pay higher premiums. However, you can minimize premiums by opting for alternatives and deductibles.

Online Quotes for Motor Vehicle Insurance Singapore

Before buying motor insurance Singapore, it is always better to do a little bit of homework. Go in for online quotes with some important insurance companies.

After calling for quotes, which can be offered free online, you study them thoroughly and never hesitate to put as many questions as you want to the selected few. After that, analyze pros and cons of the terms and conditions, premium, alternatives, and deductibles, etc. before finally deciding to buy the insurance as the best one suitable for you.