The best way of buying motor insurance singapore is to be aware of the fact that premiums vary from company to company depending on the the past risks experienced by the individual company. Factors are biased according to past claims, so according to the factors of each individual policy it is worth the time to compare quotes. Prices may vary by up to 79%.

There are a wide range of major factors that influence this. The make, engine capacity and model of the vehicle to be insured is the first factor. A fast engine in a good looking car which is very popular is more likely to be stolen and possibly crashed, and therefore the risk to the company and so the policy cost is higher.

Next they will look at the use of the vehicle. Commercial or business vehicles, and vehicles meant for hire will generally have higher premiums than a family car. Taxis for instance take a lot of abuse compared to the average run around, while company vehicles may do many miles, thus increasing the risk of an accident.

Then the company need to know about the driver, their sex, age and job of work are all factors that are taken into consideration. An older more mature driver with years of driving experience will have cheaper policies than a young driver who has just gained their licence. While women seem to get cheaper insurance than men, work is merely classified as indoor or outdoor, with outdoor being a higher risk factor.

New drivers are penalised for the first four years of driving, with premiums getting lower through the years. Being married or single also affects the cost. Strangely single drivers can pay as much as 7% more than their married counterparts.

Another relevant fact is the accident history of the driver. Drivers who have claims against their past policies may find it hard to get insurance if the claims are over 500 Singapore dollars. While there are companies out there who will insure them it will be at a higher cost.

Finally it all comes down to the type of cover. The choices are third party only which only covers for death or injury to other people and damage to their property in the case of an accident. Third party fire and theft, which is as the first but covers the car should it be stolen or catch fire, and fully comprehensive. A Fully comprehensive policy covers all this, accidental damage to your vehicle, and in the case of a private vehicle, personal accident cover and medical expenses, but is obviously the most expensive option.

With all this relevant information companies can then give a quote. Due to the different preferences of certain companies, the same facts can bring up large differences in price. Motorcycle insurance is the one exception to this as the prices seem more consistent across the board. When six or seven quotes have been successfully compiled it will soon be very clear that the art of buying motor insurance Singapore is definitely to shop around.

Working hard to compare multiple Car Insurance Singapore? Submit a free quote request today! Visit http://www.automobileinsurancesingapore.com/ now!