Every other day, we see news and reports about car accidents, illnesses, break-ins and all other unfortunate events on the internet and social media.
Looking at all the bad news, wary Singaporeans may start looking at ways to protect themselves. And the most common way to do so is to take out a variety of insurance policies, be it car, life, health or something as a niche as art insurance. While some forms of insurance are made mandatory by the Singapore government, other types of insurance are left up to your buying discretion.
While it may be tempting to purchase the most expensive policy because you think you may get the best coverage, the coverage may not represent reality and you may just end up overpaying for benefits you’ll never need. Below, we outline some top ways to prevent yourself from overspending on your next insurance purchase.