While driving around in your favorite brand of automobile, you would definitely require a good car insurance deal in order to take care of the unexpected expenses incurred due to rod mishaps. Here are few tips that will help you with these. Moreover, it is mandatory to have valid insurance coverage to be able to drive an automobile in Singapore roads. Hence, these tips will definitely come handy in saving few bucks every year.
Choosing the best plan
The most important factor to consider while choosing car insurance is the coverage plan. If your vehicle is brand-new and a pricey model, choosing bumper-to-bumper insurance would be the best option. The premiums might be slightly higher compared to other plans but in case of mishaps, you will get maximum coverage upon selection of this plan. Comprehensive plan that takes care of personal damages as well as the expenses to take care of others involved in a road mishap would be the next best option. Third-party insurance coverage would be the cheapest plan available but you should go for this only if your vehicle is quite old and you have complete confidence in your driving abilities. Third-party coverage will not take care of your expenses.
Reducing the premium
There are ways to reduce your premium while choosing car insurance in Singapore if you take care of certain parameters.
The voluntary deductiblesare one major factor that can bring down the insurance premiums. If you’re ready to pay for minor damages incurred and settle trivial claims from your pocket, you will be able to bring down the insurance costs to a great extent. Since such damages might not even occur if you’re careful on the roads, voluntary payments could save you a lot of money every year.
No claim bonus is another factor that you should highlight when you choose a car insurance plan. If you have never claimed for damages or other expenses during the tenure of your previous insurance plan, you are entitled to enjoy better rates the following year.
Making use of the advanced security features in your car is another way to save money on car insurance plans. When you approach one of the new car dealers in Singapore, try to choose a car that comes equipped with state-of-the-art security features. This will provide you with a safer drive and also help you to save money on insurance premiums. A car that is equipped with most modern features will also have better value if you need car finance in Singapore since the risk factors related to safety of passengers and theft of vehicle would be negligible.