Compare Car Insurance Singapore Quotes

Compare Car Insurance Singapore Quotes

How You Can Improve Your Next Car Insurance Premium Upon Renewal In Singapore By Knowing The 11 Conditions That affect it? snjauto

Car insurance premium have never been easy to be figured out how it was priced. Most of us, drivers have enquiry about our car insurance premiums and yet have little knowledge on how it works and to get it at our best advantage.

This short article aims to empower you on how insurance companies in Singapore fix their car insurance premiums in Singapore. Why Insurance Companies Raise Premiums

Car insurance premium in Singapore is based on a point system that follows 2 categories of
profiles. Firstly, the Profiles of the Driver insured, and secondly, the Profiles of the Vehicle.

Below are the important criterias that determine your next car insurance premium renewal:

Category #1: Profiles of Driver (Insured)

A) Age of Driver:

The younger you are, the more your premium costs.
Major factor that affects the price of your car insurance Premium.

18 to 21 yrs old — Most Expensive
22 to 25 yrs old — Expensive
26 to 30 yrs old — Moderate
31 to 65 yrs old — Least Expensive

B) Sex & Marital Status:

Expensive for Males than Females
Expensive for a single person  as compared to a married person. Best Car Insurance | Read our Car Insurance Guides

C) Occupation Nature (Outdoor/Indoor):

Car insurance premium will be more expensive if job nature is outdoor, and lesser  if
it is indoor

D) Driving Experience:

The less  driving experienced you are, the more your premium costs.
(Calculated from the time you got your driving license)

0 to 1 yrs experience — Most Expensive
1 to 2 yrs experience — Expensive
2 to 4 yrs experience — Moderate
> 4 yrs experience — Least Expensive

E) No Claims Discount (NCD):

If a driver has not made any claims with insurance company for a year, he/she will
receive a 10% NCD to reduce his/her premium in the following year.
The driver will receive an additional 10% NCD every year and his/her NCD can be
added up to a maximum of 50%.

If a claim is made during a policy year while the driver is still enjoying NCD, the NCD
will be reduced the next time he/she renew the car insurance. Is Your Auto Insurance Company Rated? [[ Best Car Insurance Companies ]]

F) Traffic Police Merit Discount:

If the driver has zero traffic offense or accumulated demerit point(s) in the past 3 years,
a 5% discount is awarded to the driver on top of the deduction of his/her NCD.

Category #2: Profiles of Vehicle

G) Year of Manufacture:

Year in which the driver’s car was registered
The older the car, the less you pay.

H) Body Type:

Types of cars – Sedan, SUV, MPV, Station Wagon, Sports Car etc.
Costs more to insure uncommon types of vehicle.

I) Engine Capacity (cc):

The bigger the engine capacity, the more is the car insurance premium.

J) Engine type:

Types of Engines -  Normal ,Turbo or Hybrid engine
Costs more to insure a car with turbo engine

K) Vehicle Scheme (Normal/Off-peak)

Some insurers offer a 5% discount  for Off-peak cars
Having understood the factors that affect the price of your car insurance, you must be
wondering how you can improve your next car insurance premium renewal by knowing all
this information? Well, the answer is simple…

Knowing how you’re charged will not only give you a better understanding about the car
insurance premium that you will pay, but it will also assist you to get the best premium. With
the knowledge at hand, you are able to compare quotes and also influence the factors that determine your car insurance pricing. Compare Car Insurance and Enjoy Low Premiums | Cars with Low Insurance Premiums

Besides, you can take advantage of the knowledge by realizing that identical information
submitted to different insurers will result in different car insurance premium quoted

The result is such as the points system that you are been assessed is done internally and
different insurer will give different points due to their own risk profile and claims experience.

Now that you have read this short article and understand how your car insurance is
determined in Singapore, you can now go out there and look for the best quotations

BUT this is not going to be easy. It is time consuming to call up 6-8 car insurers,
providing the same information several times, and finally chewing on the unfamiliar insurance jargons that each insurer has to offer!

If you are serious about getting a competitive quotes, let us do the leg work for you.

We’ll do a FREE comparison for you with our pool of car insurers in Singapore. We will
help you to save time for more important things and save money on your car insurance too. How to find the Affordable Car Insurance