Definition Of Benefits For Car Insurance
Why Car Insurance is important?
Car Insurance has the following benefits:
• It benefits the survivor when an accident results in death.
• It protects you from lawsuits brought against you as the result of an accident
• It repairs your car due to the damage caused in an accident.
Ever wonder, if you get involved in a car accident and vandalism?
What would be next? Can you afford to replace or repair your car if it's damaged badly? Just because you are a good driver doesn't mean that an accident won't happen nor you guarantee that everyone on the road is a great driver and they won't hit your car? Therefore, it is good to understand more about the benefits that car insurance companies can provide to protect you from any of the damage or cost involve in a car accident.
No Claim Discount Protector (NCD) Protector:
NCD starts from 0% and with no accident by the end of the year, you will receive 10% discount and maximum up to 50% discount over your car insurance renewal premium. Certain car insurance company offer 60% or Lifetime NCD.
NCD Protector protects your NCD from dropping by 30% when 1 accident happen and it will be reduce to 0% if 2nd accident happen during the same policy year. With NCD Protector, the NCD will not be reduce when the accident happen but do note for the 2nd accident, the NCD will drop by 30%
Up to 12 months repair warranty in Singapore:
Certain car insurance companies will give up to 12 months repair warranty for their authorized workshops and they will give you guaranteed for workmanship defects until your car turns good.
Anyone you trust to drive your car will be insured
If you trust someone as your driver, the car insurance company will cover them. Certain car insurance companies will not charge for additional drivers, however, for Young and Inexperience driver, most of the car insurance companies will charge a higher premium due to the higher risk involve.
Workshop of your choice:
You can pick your preferred repair workshop in case of any damage to the insured car. If you are worried over the main manufacturer voiding your warranty due to the repair at other workshop, this worry is redundant after government came out with the anti-competition rule on December 2017 to remove this restriction. With this new rule in place, you do not need to pay more for Any Workshop plan but you can still do so if you want to.
Overseas Benefits:
You can get additional cover when driving in West Malaysia and parts of Thailand with emergency assistance, emergency expenses and towing benefits to get you and your car back to Singapore. Do check if it is necessary to have this benefits if you have brought travel insurance for yourself as it is more comprehensive for the above coverage.
Choose your excess:
You can increase your excess according to your budget - Increasing your excess will decrease your premium expenses.
Loss Of Use:
The car insurance companies will provide a courtesy car or cash payout up to X no of days. This is to provide convenience to you when your car is in the workshop for repair.
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