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Friday, October 3, 2008

Pointers to Consider When You Purchase Your Next Car Insurance Policy

By Patrick YW Tan

Being a consumer, here are some pointers to consider when you purchase your next car insurance policy.


  • Which insurance company are you placing your risk

  • Where and Why the insurance company used the appointed workshop

  • What are the coverage and benefits in the car insurance package

  • How much is the premium

If it is not mandatory, many cars you see on the road today will be driving without car insurance. Drivers will manage to save some annual premium but on the other hand much can be lost.

Imagine yourself driving on the road


  • A car knock onto the rear of your vehicle. Than after exchanging the driver's particular, than you realise that the other driver does not have valid car insurance, so the next question you ask is who is going to pay for the damages.

  • We have seen and hear of car caught fire in the middle of the road, car smash by falling tree branch and car crash into private property, so who is responsible for all the damages.

This is where the different insurance companies came into the picture and offers to take over that risk and responsibility of any financial lost in exchange for a small premium.

Singapore is a small island but has a big population of cars, so we see insurance companies providing car insurance are trying to capture their shares by giving


  • Cheaper premium

  • Better claim service

  • Introducing authorise workshop

  • Other benefits to make their package more attractive

So we see, driving without valid car insurance, the drivers are responsible for all the risk and financial losses in the event of an accident.


When it comes to insurance, it is never about product. It is always about service and benefits. Both Individual and Company have to make informed choices as to what they want to do with their insurance program.

Our approach is simple, cost effective and solutions targeted. http://www.nexusriskmgt.com

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