There are many insurance options available, so it’s often hard to choose the best company. You’ve got to weigh the factors, and most people only look at the price or read a few online reviews before making such a big decision.
While reviews and cost-effectiveness are important, they only show a small piece of your picture. Therefore, they aren’t the best way to determine which insurance company in Singapore you should use. Here are a few things to think about when deciding on the right organisation:
1. Online Reviews
You may not think about it, but a review is from a single person. The rating or star count you see might be based solely on one factor. Therefore, it’s best to read through many reviews from different sources.
Generally, you should understand what the review is focused on, such as a poor customer service experience, high claim amounts, or a failure to make the payment. Determine why the writer is offering that information before making a decision.
2. Coverage Options
Most insurance companies sell specific products, which could include car or life insurance. Therefore, make sure it provides what you need. This could vary with time, as well.
You may not need life insurance because you’ve got a large savings account and are prepared for any eventuality. However, drivers require car insurance, so you can still benefit from that same brand.
Those who don’t own a vehicle now might only seek to get term life insurance. Still, they don’t know when their situations might change. When you use an insurance provider offering multiple choices, you can make the right decision at the appropriate time.
3. Surveys, Reports, and Rankings
You need to get a sense of how well the insurance company performs compared to others in Singapore. Therefore, you want to check industry rankings and surveys.
They often compare multiple companies simultaneously based on specific criteria. Make sure these ranking agencies answer questions about customer service and claims paid. You get helpful information about the business and understand what it does and what it offers.
4. Financial Strength
The insurance company should be financially stable. You want to see how well it performs in the market to ensure that you can depend on it when the need arises. Typically, these companies have assets available to pay out claims.
5. Online Options
Many insurance companies use an online model, so you do everything from the website. This means you’re filling out questionnaires and forms to receive a quote, which might be compared to other brands from one source.
Once you receive a quote, you sign up for coverage directly on the site or in the app. Usually, you never speak to an agent because you can file claims online, too. It’s easier for most people, and they still get what they want and need.
Typically, these are traditional insurance companies, though they could be online-based. Regardless, you get what you need with less hassle.
6. Customer Service
Even if the insurance company works solely online, it should still have contact methods, such as live chat, phone, or email. There are bound to be times when you need to talk to someone or aren’t sure about the coverage you require.
Whether you’ve got a question about the policy deductible or how to file a claim, someone should be available to talk to you. Otherwise, you might be paying for a service that you can’t use when the need arises.
7. Instant Applications and Processes
Online-only companies often use artificial intelligence to determine what you need. When you’re on the site or app, it asks questions to find out your requirements and help you select the right products. Plus, it’s all digital, so your application is instantly approved, and claims are filed at the touch of a button.
Choosing an insurance company can be challenging because there are so many choices. However, a new option is here. Bubblegum is an online-only platform that helps people find the subscriptions and coverage they need.
You can cancel at any time, pay per month, and have no penalties tied to your account. Therefore, you get coverage when and how you want it. Download the app today to get started!