How to choose the best Accident Insurance in Singapore 

As the name may suggest an accident insurance is one of the many forms of insurance policies available in the market today that is designed to offer a payout in the event of an injury or death should an accident occur. Unlike other types of insurance policies, an accident insurance  Singapore does not cover acts of nature i.e. natural disasters or negligence, so the policy often comes with restrictions on payouts for certain activities considered risky.

Most insurance companies today in Singapore do sell this type of insurance, which can be bought as a standalone insurance policy or can be bundled up into your existing policy, which should often attract some form of discount. 

As is with any other form of insurance today, purchasing an accident insurance is more or less like a bet in the sense that you pay your monthly premiums diligently hoping that there would be no accident, while the insurance service provider writes you a policy hoping there will never be the need to make any payouts. 

This form of insurance is always an attractive option for people who do not have adequate medical cover, since it provides access to medical treatment in the event of an accident. It is also an attractive option for families who might suffer a huge financial burden in the event of the death of a loved one as a result of an accident. In other words, an accident insurance in Singapore is more of a financial security for most people. 

The first most critical aspect that you should look out for in an accident insurance is the level of coverage you will be entitled to. This is simply the amount of money you will get from your carrier of choice in the event of an accident. As expected, different carriers would provide different levels of coverages based on different factors. Ensure you look at whatever exclusions have been stipulated on the terms and conditions. Most providers, for instance, would not offer coverage for any accidents that take place when doing an illegal action e.g. when driving under the influence.

Also worth mentioning is the fact that the cost of the insurance varies a great deal from carrier to carrier. Always ensure that you compare the rates for the different programs from different carriers as well as the packages that each brings to the table. You need to do an apple to apple comparison to find the most suitable accident insurance for your needs, or those of your family. 

With that being said, a good and guaranteed way to find the best insurance service provider is to get referrals from family and friends. Reading reviews of present and past customers of the carriers that you are considering doing business with will also help you make an informed decision in regards to the most affordable service provider with the best accident insurance to meet your needs. These reviews are found on the internet. It is also worth mentioning that like any other form of insurance, you need to take your time and go through the terms and conditions before appending your signature on the dotted line.