Have you experienced a situation where the corporate company in which you are working is ready to pay you for your medical expenses for some major ailment that is bothering you? If yes, then do you think they are paying whole of the amount from their pocket for each and every employee? No, they are rather paying the insurance amount per employee which then becomes a bulk amount when summed up for the whole organization. This does shows that there is a need for you to take the Motor Insurance Singapore so that you do not have to wonder about the maintenance bill that is generated for the vehicle repair if any that is incurred for getting the vehicle back to working condition after meeting with the accident.
Apart from meeting the expenses it is more important to have the insurance for the vehicle as well as for the person who is driving the vehicle as per state government laws. Hence, it is recommended that you do take the motor insurance first so that anyone who is driving the vehicle could not have to struggle with the legal procedure when something unfortunate happens with the vehicle. Though you are not the fault it is the common understanding that a person who is found to be a defaulter for paying the insurance premium amount is likely to be suspected by the legal authorities.
So, do realize the importance of taking the insurance for the vehicle post which you could also take the insurance for the person who is driving the vehicle which is likely the owner of the vehicle and it is you. Since you have paid the insurance amount you are likely to do some savings on the expenses that are incurred in repairing the vehicle post-accident. However, you should be bit cautious about submitting the document before the allowed duration is lapsed.