Tanjong Pagar Money Lender
SG City Loan is here to help you find a good tanjong pagar money lender. We will be able to source for the right lenders for you. Finding a good licensed money lender is not as easy as it seems. As there are many companies in Singapore, it will take you a lot of time to go through all the companies and their reviews.
If you intend to visit all the money lenders, it will take up weeks of your time. This is because many lenders will take some where from around 30-60 minutes to process a check before letting you know if you will be approved a loan. Imagine spending at least an hour at each office, that will be 150 hours spent.
Why not spend 1 minute by sending us your application? We will work from there and find you the companies that will most likely be able to approve you a loan. You can then approach the office to find out more about them.
Do note that you just because you visit the office, it does not mean that you must take a loan from them. You can still walk away if you do not like what is offered to you.
Why do You Need Motor Insurance?
In today’s world, be it a car, motorcycle, or even a scooter, if you own any of it in Singapore, motor insurance is compulsory. Singapore is one of the most expensive places to own a car or any vehicle, and therefore, you wouldn’t risk not ensuring your vehicle against accidents and damages. But, what are the benefits that motor insurance offers and would we insure our vehicles if it wasn’t made compulsory? To help us decide, here are some of the benefits of motor insurance and why do we need them.
Protection of Legal Interest
According to the Motor Vehicles Act (Third-party Risks & Compensation Act) in Singapore, if you have a vehicle on public roads, you need to have insurance coverage to cover the death or injury of anyone caused by that vehicle. If you don’t have insurance coverage, you can be fined up to SGD 1000 or will be put in jail for up to three months or both. In addition, you’ll be disqualified from holding or obtaining a driving license for 12 months from the date you are convicted. Apart from paying for the car repairs, if you injure someone, you could be sued for any losses, damages, and medical expenses for that person. The liable amount can run into hundreds or thousands of dollars or even millions. On the converse, if you have insurance, your insurance company will be borne of all the expenses. So, having motor insurance ensures that the owner is free from any third-party liability that may arise in case of an accident.
Protection Against Natural Disasters
Motor insurance is designed to cover any damage or loss. Even from natural calamities such as fire, floods, cyclones, earthquake, landslide, storm, etc. The insurance company can provide claim for any damage cause to the vehicle due to the natural disasters. It is usually stated under the terms and conditions. Since flash floods are a common occurrence in Singapore, you may want to check if your insurance policy covers floods. While doing so, you can also check if it covers other ‘acts of God’. Though there are many comprehensive motor insurance products, make sure to do your homework well. This is because after you take a policy, it may not be easy and can be expensive to change.
Protection Against Man made Calamities
Losses and damages can occur on your vehicle even through man-made activities. It includes theft, burglaries, strikes, wars or even accidents. The insurance can cover all the losses that occur due to these activities. It can cover your cost or replacement charges, whichever is required according to the situation.
Provides Discounts and Perks
There are additional perks and discounts when it comes to your insurance policy. Adding No Claims Discount (NCD) or No Claim Bonus (NCB) protector to your policy will ensure that you retain your NCD even if you get into an accident. You get increments of 10% when you don’t have to file any car insurance claims. It accumulates for each year without a claim. The NCD is your reward for being a ‘good driver’. If you get into an accident that’s bad enough for you to make a claim, your NCD will be deducted by 30%. Note that this happens each time you make a claim. An NCD protector prevents your NCD record from being tarnished.
Additionally, many people assume that insurers will typically insist you go to their authorised workshop only for any repairs. But, some insurers will give you more options by just showing them the money to be allowed to claim at any workshop. Therefore, when you choose motor insurance that will enable you to go to any workshop or dealer’s workshop for repairs or maintenance of your vehicle.
Gives a Sense of Security
When you are aware that your vehicle is cover by motor insurance, you get a peace of mind. It can help you to ride confidently on the road. Motor insurance helps you protect yourself against the potential damage caused by crimes and natural calamities. Even if you meet with an accident, you are cover. Especially until you quickly recover from your lifestyle after damage and act as a temporary replacement to your family and loved ones. By buying from motor insurance companies, you are contributing to improving your life. It makes yourself safer and reducing the risks.
Offers Portability and Add-ons
Motor insurance policy is portable. In simpler words, it means that you can change your insurance company without losing the benefit. With motor insurance, you can drive any vehicle with coverage. This also makes your policy move with your car wherever it goes.
Owning a vehicle in Singapore can be a costly affair. So it is important to take out an insurance policy to cover your precious assets. Now that you know about the benefits that it offers, get a motor insurance policy today.