According to the Motor Vehicle Act, getting third-party insurance is mandatory whether you buy a new or old car. A comprehensive cover is also an option. The first kind of insurance shields you against monetary and legal obligations to any third party. A comprehensive coverage, on the other hand, protects your car from damage caused by accidents, fire, theft, cyclones, floods, etc. It also covers any third-party liability in addition to this. Here, we will discuss some major benefits that make car insurance singapore important.
- Vehicle loss or damage is insured
You are covered if your car is damaged in a collision, a fire, or by self-ignition. Additionally, your insurance policy covers losses caused by strikes, rioting, vandalism, burglary, or theft of the vehicle. The fact that car insurance covers loss or damage when being transported by rail, inland waterways, road, air or lift is an additional perk.
- Liability to third parties
Your vehicle is covered by auto insurance if it is involved in an accident that causes loss or damage to the property of any third parties. Additionally, your car insurance shields you from any obligations you may incur in the event of a third party’s death or physical injury.
- Cover for personal accidents
A further benefit of car insurance is that it provides personal accident coverage for a certain sum. Protection against accidental death and permanent disability is offered by personal accident insurance.
- Connections with a number of garages
Respectable insurances boast a sizable garage network. This guarantees that, should the need arise; you will access cashless services at each of these sites. In the eventthat your car sustains damage, this benefit makes it simple to obtain repair services.
- Mental peace
We all make errors;however, there are situations when the error of another driver becomes your issue. You can be assured that you are protected if you are hit by an uninsured or underinsured driver if you have the appropriate kind of auto insurance.
- After your passing, it covers your family
The death of the car owner is the most tragic result of a traffic accident. It could be challenging for the family to maintain daily living once the breadwinner policy holder has passed away. However, following the terrible incident, a car insurance coverage can assist in covering the family’s expenses.
A car accident is always a tragic event that shouldn’t happen to anyone. However, if such an instance occurs, having good car insurance relieves the driver and the family of a significant financial burden.