Know your way through the whiny brochure-talk, decode terms, and uncover hidden benefits of your car insurance plan.

We know what kind of car owner you are. You’re responsible, you’re diligent, you’ve done your homework.

You have all the information laid out in front of you, and you’re ready to pick the right car insurance plan for you. Which will it be? If you’re like most of us, then the choice is obvious – the cheapest one, of course!

Then you start having doubts because you know it can’t be that easy. The plans sound alike but do they really offer the same coverage? Are you overlooking something? To complicate things further, the rates might vary by only just that little bit – not enough for you to throw out all the other plans and settle for the one that fits your comfort zone.

Here’s where GoBear can help you to clear things up when comparing car insurance policies in Singapore, with these three important tips. 

1. Don’t mix apples and oranges

Read the brochures carefully. Highlight the passages if you need to, and ask a good friend to decode the terms for you. Insurance plans often sound alike and look alike, and even priced alike, but they are not. You need to know what you want, and make sure that your plan has all your needs covered. 

When researching, don’t sort your plans according to price. A comprehensive plan may be priced similar to one that covers only third-party drivers. So if you’re set on getting comprehensive coverage, for example, throw out anything else that might distract you.

This can be tricky, since not all insurers use the same terminology nor divide their plans clearly into basic third party or comprehensive coverage schemes. And not all of them offer the classic motor insurance tiers. 

When in doubt, compare the policies line by line, or get the insurance provider on the line to clarify. The basics to look out for are the upper payout limit for first-party and third-party coverage when it comes to medical and collision claims. And don’t forget the less obvious details such as the excess fees per claim, as well as the service options and limitations such as which repair workshops you may patronise in Singapore. 

2. Go ahead and snoop

It’s one of those sad truths about life very much related to that familiar saying about peanuts and monkeys: Good service and reliability often comes at a premium.

Some insurers that score better on customer service, responsiveness and sincerity may tend to charge higher premiums. Conversely, some insurers are exceedingly strict with their policy rules and coverage during a claim – this may explain for how they can keep their premiums low. These are just gross generalisations, of course, because there are definite exceptions to the rule.

 Your best bet is to gather recommendations and real-life stories from people you trust. And go online to read user forums for a broader sweep of views. Eventually, a list of reputable insurance companies will emerge from your research.


3. Uncover the hidden benefits and discounts

GoBear-hidden benefits 

Yes, the fine print matters. Some policies provide additional benefits such as excess fee waivers and complimentary no-claim discount (NCD) protection. Safe driver, low mileage, safe vehicle equipment and payment method discounts are other perks to consider when comparing car insurance rates since, added together, they can have a serious impact on your final premium.

It pays to put in effort when shopping for your car insurance now Your shopping efforts now will go a long way, when you find out later which policy actually gives you the most value for your money