Cheap Insurance

Anyone who has never purchased an policy for car insurance Singapore will be well aware that these can be fairly expensive. However, this doesn’t mean that there is nothing you can do to achieve some savings. Consider these basic tips on how to find more affordable car insurance Singapore.

Your driving record is extremely important and this is something that you should focus on very closely at all times. Try not to make any claims. If you don’t make any claims then you will qualify for a no claims bonus when your policy is renewed. Often this bonus can help you to achieve 50% or more in savings on your policy.

On top of your no claims discount, certain insurance companies will provide other benefits if you maintain a good driving record. For example, if you have a point free driving record that has been maintained for at least three years, this may help you to achieve a certificate of merit discount, providing an additional 5% off your final bill.

The excess that is attached to the account needs to be closely considered as well. This refers to the amount of money that you have to pay in order to get your insurance company to file your claim. As you excess goes up, your premiums will begin to go down and therefore if you want to save some money on your premiums then it is a good idea to set an excess that is fairly high.

Any additional benefits that are attached to the policy need to be removed if you want to see savings. Different companies will provide different benefits as part of a package deal, but in many cases a lot of these benefits may be completely irrelevant to you. As such, when you search around for quotes it is always important for you to think about what benefits you actually require. When doing this you can cut the fat and only choose those benefits that are necessary to you.

If you have a lot of driving experience yourself then it may not be a good idea for you to add any young or inexperienced driver to your policy. This is especially the case for parents. If you add a young driver to your policy who is under the age of 26 or someone who has less than three years driving experience then significant financial editions will be made to your policy.

To see if you can purchase a package deal. If there are any other types of policies that you need to purchase then it is a good idea for you to search around for a policy provider who will offer you all of them as part of the same deal. These multi-policy discounts will often help you to save a significant amount on all of your necessary insurance requirements.

Overall, these basic tips should certainly help you to see some savings on your policy. Do your research and take your time and you should come out the other end with some extra money in your pocket.

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