Everyone wishes to have their four-wheeler. Many people want a car out of necessity, and some buy it for luxury. But when it comes to purchasing car insurance coverage, no one has a say. Everyone must have vehicle insurance whether they like it or not.

Car insurance singapore is mandatory to protect your finances while traveling or commuting within the city. It is a contract between you and the company that protects against financial loss in case of accident or theft.

Car insurance has many benefits as a person can pay now and save for the future, protect yourself and your family by buying the correct coverage, and many more.

 Type of Car Insurance:

• Third-Party Liability Only Cover: This cover is required by Motor Vehicles Act to drive on public roads. There are many benefits under this car insurance coverage, such as the cost of repairing or replacing the third-party vehicle, liabilities resulting from the death of a third party, and the cost of hospitalization.
• Comprehensive Car Insurance: This type of car coverage protects because it covers the third-party liability, personal accidents, damage to one’s car, and all other non-collision damages like a storm, fire, floods, theft, etc. The comprehensive insurance policy covers various issues not covered by a car collision. People can purchase the comprehension policy based on financial situations.
• Collision Damage or Own Damage (OD) cover: If a person opts for Collision Damage auto insurance, the cost of repairing the damaged vehicle is covered. The insurance is given by taking the age of the vehicle and Insured Declared Value into account. The IDV will be based on the vehicle’s market value.

Things to know while buying insurance:

While choosing car insurance, the, following things should be kept in mind, which help in comparing the different insurance and making the right choice:

• Third-Party:If the person is driving the car, they should have mandatory car insurance and make sure the insurance covers all damages of the third party during any mishap.
• Range of the cover:A person can buy insurance by ticking the mandatory fields and buy with the intent to save money, or another better option is when you buy a wide range cover it not only adhere to the law but ensure the insurance coverage mentioned in policy. Also add on covers help to expand the coverage further.
• Consider the Brand: It is important to consider the brand while purchasing the four wheeler even if you are brand conscious. With the brand also spend some time thinking about insure’s brand as well. And if you like what brand offers embark on new partnership by insuring your car with the company.

Group insurance health plans mainly provide coverage to the group of members. This mainly consists of company employees or some of the members of an organization. Group health members can avail themselves of the insurance at a lower cost as the insurer’s risk is distributed across the group of policyholders. Some of the benefits of the company group health insurance have been discussed in this article.

Tips to consider for choosing the best company group health insurance

Below are some of the important tips to consider at the time of the choosing best company group health insurance:

1. At the time of picking group insurance plans, many people choose plans having the cheapest price tags. But it is necessary for someone to look at how much a plan mainly costs and its coverage options. At the time of buying the group insurance, the company must choose the plan having the high sum assured.
2. It is necessary to choose a plan having a lower health insurance premium but the same must have all the required features.
3. The employer must check the network of hospitals at the time of purchasing a group health insurance policy. Sometimes if the employee is going outside for any company work, then the hospitals in that city must be covered under the group health insurance.
4. If someone is buying group health insurance online, then they can be able to save time as well as money. It will help the buyer to go paperless and can make the process of buying faster.

Benefits of buying the company group health insurance

Below are some of the important benefits of company group health :

1. This company group insurance policy mainly provides additional health coverage for employees. These employees must have a family or individual health insurance policy
2. Employees are mainly not asked to go for the medical check-ups as well as must usually get the policy covered as soon as possible.
3. Employees, in some of the cases, can mainly avail themselves of maternity benefits.
4. The group health insurance plan is mainly cheaper in comparison to the individual health plans. The premiums in the case of group insurance plans are mainly lower in relation to the sum assured as compared to the individual health insurance policies.
5. The group health insurance policy is easily available to the employees of a company.
6. In the case of pre-existing medical conditions, the employees are mainly covered by group insurance policies.

These are some of the important facts to know about company group health insurance.