The Real Costs Of Cheap Insurance

The ads are all over the place. Jaw-dropping  insurance premiums, much lower than what you are used to. Of course, you are tempted: if you can save money, why not, right? The thing is, not all insurance is equal. To save money  chances are that you will have to sacrifice quality and coverage. That means you get a great price upfront but you might end up paying the true cost when you actually need to use your insurance policy because you have a claim!

It is not only the price that counts

So it is important to ask yourself “what am I getting for this low price?” In most cases the answer is simple: you are not getting as much as you need. What good is buying a cheap insurance policy if it is not protecting you properly?

Insurance should be purchased the way you purchase any other big-ticket item: with careful thought and research. After all, your insurance policy protects your most important assets against physical loss and protects you against financial ruin stemming from liability losses.

You wouldn’t buy a new TV or car just because it was the cheapest option, would you? Insurance should be no different. Purchasing the cheapest option can actually cost you more in the long run.

Compare and review before you buy

We at Insurance Market recommend that you review the coverage you get for the premium in detail and compare that with other offers to make sure that you are adequately insured in the unfortunate event of a claim. For that, we have built a world-class comparison site with full comparison on policy details for all non-life insurances. Go check it out and be sure to purchase coverage that meets your needs and is backed by outstanding service from a reputable insurance broker.

After all, you may find out that the cheap option is good after all! So at least now you have peace of mind!

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  • Get discounts the moment they are live
  • Save time due to autofill of your info
  • 24/7 access to your policies online
  • Control your spend on insurances
  • We are based in Singapore
  • All your information is safe and secure