Car Insurance

Written by: AUTO CAR

Affordable Car Insurance in Singapore

While you can sleep better knowing your insurance plan covers your car entirely, economics dictates saving as much as you can, especially in these harsh economic times. Different insurance companies charge differently on their premiums. For affordable car insurance Singapore, read on to learn how you can economize on your insurance whereas having the best value for your money.

How Can I Get Cheaper Car Insurance in Singapore?Regarding costs revolving around car ownership, we often try to get the best available bargaining deals possible. Personal repairs and cheaper petrol are some of the lengths people go to save extra cash. However, here are some of the objects you may customize to realize a more affordable car insurance plan.

Affordable Car Insurance in Singapore

  • Overseas Coverage

If you regularly drive into Malaysia or enjoy frequent getaways, having overseas coverage is crucial to protect your car and yourself. It enables you to spare some dollars off your annual premiums.

  • Named Drivers and Age of Drivers

A named driver is the individual who signed the insurance document. Car insurance policies let you add other drivers, whether young or old. However, it will cost more to add additional names to your policy. If they are younger, your premiums are even higher. To save on cost, you should avoid adding named drivers unless necessary.

  • Excess

Excess refers to the out-of-pocket cash you have to cough out before your insurer takes over the cost. A low excess amount normally means you will spend more on premiums. If you are a confident driver, you may request lower excess to receive lower premiums.

  • No Claim Discount (NCD) Protector

NCD is a reward for being a good driver. It comes in the form of a discount on your premiums if you have made your claim in that year. Claiming NCD is a superb way to save on your insurance premium. However, if you happen to make a claim when you have been involved in an accident, your NCD gets a 30% deduction every time.

Is Cheaper Car Insurance Better?

Saving on your insurance can go a long way in saving you money. However, whether it is a move you should consider is a question meant only for you. Cheap premiums do not necessarily represent the best deals. It all depends on the value you get, your contribution, and how good your coverage is.

Available Options for Affordable Car Insurance in Singapore

Spending money on repairs and maintenance is not a walk in the park. Fortunately, you can minimize your spending by getting the cheapest car insurance in Singapore. Below is a list of top insurance companies offering the most affordable car coverage in Singapore:

1. DirectAsia Insurance

DirectAsia is one of the options you should consider. Regardless of your insurance type, whether comprehensive, Third Party, or Third Party and Theft, you can be sure to receive 5-star quality, hassle-free, high-ranking insurance products with DirectAsia. The provider also lets you protect and advance your NCD with NCD protector plus. This feature allows you to move to the next level even with one at-fault claim. Start saving on your premiums by adopting DirectAsia, Singapore’s favorite insurance with exemplary service.

2. FWD Car Insurance

If you seek to protect your kids in case of an accident, consider FWD Car Insurance. Its primary features include the lifetime NCD benefits that offer rewards for safe driving. When your NCD remains at 50%, you can get to keep it unless you drop the insurance. Additionally, you can choose which benefits to go to your insurance plan.

3. Etiqa Car Insurance

Etiqa offers peace of mind while on the road. Longtime drivers can save up to 53% on premiums after availing of their promotions. Etiqa offers three car insurance packages: Third-party, comprehensive, third-party, and theft. All these covers ensure you are adequately compensated in case anything happens to your car. With Etiqa, you do not have to wait for days to approve your application. You may get approved for your application within as low as thirty minutes.

4. Aviva Car Insurance

Aviva is among the leading insurance providers across the globe. It is among the cheapest car insurance companies in Singapore. This option is even more ideal for younger drivers. Some of the basic features you will receive from this insurance include an NCD protector, quick emergency assistance, and a low NCD penalty. It falls among the cheapest alternatives in Singapore, thanks to its numerous discounts and promotions.

Conclusion

Cheaper insurance does not necessarily mean the most effective option. It would help if you considered other factors, including your budget and the amount of cover you desire, before selecting your insurer. Evaluate what is important to you before making your decision.