Singapore Car Insurance Quotes & Premium Tips
The ten minutes you’ll spend reading this article could save you $300 to $500 this year on car insurance quotes. The tips in this article will give you a crash course in car insurance quotes and premiums, so you can use this knowledge to save yourself the time, money and frustration that often goes into car insurance quotes.
Tip #1 – Shop 3-5 Car Insurance Quotes Online
Most Singapore car insurance companies have websites where you can get a good estimate of what your premiums will be. Compare your car insurance quotes online before you make a choice.
Tip #2 – Google the Insurance Company
Read some reviews online about how the insurance company fares with different kinds of clients. Some companies provide excellent service and low premiums – Provided you don’t have an accident. Then they’ll be a hard case with you.
Others are more lenient, but might charge a little more. Do your research.
Tip #3 – Double-Check Your Credit to Lower Your Premium
Take a look at your credit report and see if there are any items that don’t belong there. Most people usually find at least one item that was misreported.
Your credit report affects your car insurance quotes, because high credit risk individuals also tend to have more accidents.
Tip #4 – Think About Your Deductable of Your Car Insurance Quotes
A $200 deductable and a $1,000 deductable can be the difference between $100 a month and $180 a month. That’s $80 a month coming out of your wallet – Easily paying for itself within a year (even if you have an accident!)
Most people don’t realize that if you bump your deductable to $1,000 or higher, you’ll usually get a 40% reduction on your car insurance quotes. Think a little about what deduction really works best for you.
Re-read these tips and choose the ones that apply most to you and put them into action. They’ll serve you well.
How You Can Get the Best Car Insurance Quotes in Singapore
Imagine paying 20% to 40% less than what everyone else has to pay for motor insurance. This is not only possible, but easy. You do the work once to get low car insurance quotes and it will keep on paying off for as long as you own the car.
Improve Your Credit Rating – Before You Get Car Insurance Quotes
Your credit rating affects your car insurance quotes, because insurance companies have found that people with higher ratings tend to have fewer accidents.
While you can’t easily bump up your credit rating over night, there are a few things you can do to give you a boost right away. First of all, balance out your cars so that you have a similar utilization rate, preferably with no card more than 30% utilized.
If you have three cards with a $1,000 limit for example, instead of having $0 on one, $300 on another and $600 on another, try to just have $300 on each. The card with the highest utilization rate is what determines your credit score.
Also make sure there’s nothing in your report that doesn’t being there.
Get Multiple Car Insurance Quotes
Every motor insurance company in Singapore will give you a different quote. Get at least 3 car insurance quotes to compare your rates.
Double Up on Insurance Companies
If you have personal insurance, life insurance or Homeowners insurance, make sure you get a quote from that company as well. Often times going with the same company and adding to your existing plan is much cheaper than getting a new plan with another company.
Get Yearly Coverage
Although yearly coverage is usually the same or marginally cheaper than monthly, the upside that the rates won’t change on you. With normal coverage, the car insurance companies can increase your rate down the road.
It’s not just the car model that matters – it’s how safe the car is.
A car with higher safety ratings and more safety features will cost less in motor insurance. If you plan on getting an anti-theft device, get it installed before you go and get car insurance.
If you follow these car insurance tips, you’ll be paying less than what most people in Singapore pay for car insurance.