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Find cheaper car insurance with our money-saving tips
Car insurance Singapore premium is getting higher and insurer is not showing much sign to bring down the premium due to escalating claims.
However, there are several ways that you can cut your motor insurance costs, so take note of our simple tips and you may save yourself some money.

Check your cover
There are generally three types of cover provided by motor insurers; Comprehensive, Third Party, Fire & Theft and Third Party.

Each policy differs in the level of cover offered, Third Party being the most basic and Fully Comprehensive being the most complete and the level of cover can be reflected in the price so try to work out which policy is best suited to your needs when comparing prices.

However, you need to take note of your current finance company if they will allow you to take up other coverage type than Comprehensive. Most Finance companies will not allow that because if accident happens, only Comprehensive coverage will pay for own damage claims while the 2 other coverage will not be able to do so.

Alter your voluntary excess
The general rule of thumb with voluntary excess is that the more you are willing to pay up front when making a claim, the lower the premium, so you may well be able to save money by increasing the excess on your policy.
But, again, be sure to compare policies with varying levels of voluntary excess as our research has shown that the savings are nominal once you reach a certain level of voluntary excess.

Minimise optional extras
Insurers will offer a series of optional covers such as Courtesy cars, going back to Dealer workshop for accident repairs but these all come at a cost. So work out which, if any, extra benefits you need on your policy and take off the ones that you don’t as this will help lower the price of your premium.

Named Drivers
This benefit usually cost more to have and most insurers will still cover unnamed driver with the condition of additional excess. If the unnamed driver seldom drive your car, you should consider not to put her/his name in to save the cost.
     
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