How to buy cheap car insurance online in Singapore
It is essential to have car insurance in Singapore. You may want to renew your car insurance that you already have. However, when you buy car insurance online, you will get car insurance at cheaper rates. Below, we will discuss some other factors that will enable you to get the best car insurance Singapore.
How can you buy cheap car insurance online in Singapore
You must not only think about the price. Instead, you have to try to understand what you buy. In order to lower the premium, some car insurance companies will get rid of some of the benefits. Thus, think about the benefits that best align with your needs.
· Medical and Personal Accident coverage
If you choose car insurance that provides you with medical and Personal Accident coverage, it will cover even the other people who were with you during the time of the accident. For this, the premium that you need to pay is not much. Thus, you can pay for extending the travel insurance coverage to the other passengers and the driver who will be travelling with you.
· Third Party Only and Third Party Fire & Theft
Cars that are over ten years old come with a lesser value. You can choose to get these coverage if you want to save your money. But, you will have to carry your own repairs if you want to do the repairs and in case there is a fire or theft or total loss.
· Authorised or non-authorised
Just like the question comes to your mind- why need travel insurance in Singapore? You may also wonder why you require car insurance in Singapore and what type of coverage you provide. For instance, having car insurance in Singapore will make you decide whether you want to get your repairs done from an authorised or non-authorised workshop. The kind of workshop you choose will help you and your insurance provider to determine the repair quality and price.
If you want your car to get repaired from any workshop of your choice, then you need to opt for car insurance that will offer you such flexibility. Car insurance plans that offer repairs at any workshop have higher premiums.
· The excess
Excess is the maximum amount that you will have to pay by yourself during a claim. But, you will only have to pay this excess when it is you- the person who is at fault. Generally, the higher the excess amount, the lower the premiums will be. It is because, in the case of an accident, it is you who is paying the excess that is the higher cost that will lead to the reduction in the price of the premiums. This is how you can lower the premiums that you have to pay.
Apart from third-party theft and fire coverage, it also covers replacement and repairs for accidental damages to the vehicle. It can also comprise medical expenses and personal accident coverage.
· No claims discount
For each year that you had to drive and not make a claim, you get a discount of ten percent on the premium of the following year. You can get an NCD, or no claims discount up to fifty percent maximum if you do not make any claims for five years. However, if the car insurance company increases your quoted premium, then your discount will become ineffective. But you can get an NCD protector that will enable you to make any claim once without it having any effect on your no-claim discount.
· Named driver
When you buy car insurance in Singapore, you, by default, become the named driver. Thus, things such as the excess apply to you. However, if an unnamed driver causes damage to your car, the excess figures increases. In order to avoid such a thing from happening, you can add other drivers. Many car insurance companies offer this option to you. But you can only add these drivers if they are twenty-seven years old and have a minimum driving experience of two years.
Similar to buying HL Assurance COVID travel insurance, you will need to consider the benefits that come along with your car insurance. At times, you will be able to pay lower premiums, but it will also lower the number of benefits that come along with it. For this reason, you must consider the benefits before you consider the price of your car insurance in Singapore.
Among the benefits, you can opt for a no-claims discount. Therefore, if you do not make any claim on your car insurance, you will get a discount. You can choose an NCD protector so as to ensure that your no-claims discount remains effective.