Cheap Motor Insurance

Cheap Motor Insurance – Having motor vehicle insurance in Singapore is a must if you want to drive it on the roads. Driving without a motor insurance plan will result in the suspension of your driver’s license, a large fine and you could be jailed. However, finding cheap motor insurance is what you can do to help ease the liability. We’ll explain more about how insurers get quotes.

Premiums are given based on the make and model of the car. A luxury sports car will cost more to insure. This is because they usually drive at higher speeds, which makes drivers more prone to accidents. In addition, car parts are more expensive compared to Japanese or Korean cars.

Cheap Motor Insurance

Cheap Motor Insurance

The better the record, the lower your premium. If you have had any accident claims in the past 3 years for which you were at fault, you may pay more. If you have three or more claims, most insurance companies will not insure you. After all, insurance does not insure a “high risk driver”. However, if you are a new driver with no record, your insurance premium is also likely to be high.

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Years of driving experience will be considered. Drivers who have experience of 4 years and above will pay more. So the more driving experience you have, the lower your premiums will be.

Statistically, women tend to have fewer accidents, have fewer DUI accidents, and most importantly have fewer serious accidents than men. All other things being equal, women often pay less for car insurance than men.

Younger and older drivers often find themselves paying more for their premiums. The reason behind this is that they are considered more careless and more likely to get into accidents. On the other hand, older drivers are thought to have reduced reflexes and poorer vision and may be more prone to accidents.

Insurers will use your occupation to gauge how often you will use your car. Working indoors in an office can get you cheaper premiums. Outdoor or sales-driven jobs suggest the use of heavy cars, so it’s more expensive to insure.

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Married people tend to be more responsible and therefore the chances of getting a cheaper premium are high.

You get a 10% discount for every year you drive and you don’t have to make an accident claim. You can accumulate your No Claims Discount (NCD) up to 50% discount i.e. after 5 years without claims. Learn more about NCDs for your car insurance.

Compare your insurance quotes with UDRIVERS to get the lowest price guaranteed. All you have to do is fill out this form which will take up to 3 minutes of your time! No strings attached, we want only the best for you!

Cheap Motor Insurance

Magdalena Guo is the UDrivers Marketing Associate. Marketing associate by day, writer by night. She is here to share some motoring news and information with the users of the UDrivers app. We’ve analyzed hundreds of car insurance quotes and benefits from dozens of insurance companies in Singapore to find out which plans will give families the best value for their money. Compare and shop from our top picks based on your budget, the size of your family unit and the type of coverage you need.

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While it may be tempting to go for the cheapest car insurance possible, you’ll want to make sure you have enough coverage because you’ll be insuring not only yourself, but your children as well. The following auto insurance plans are available for every budget, minimize out-of-pocket costs and protect every member of your family.

If your family unit consists of adults (ie a married couple living with elderly relatives), Budget Direct car insurance can be a good option not only because of its unbeatable premiums but also because of the coverage and types of plans offered. When analyzing the quotes, we found that Budget Direct premiums are around 40% cheaper than the average for married couples.

Budget Direct offers two driver plans to choose from: the Named Driver Plan and the Authorized Driver Plan. A named driver plan covers only the primary driver and the people you include as named drivers. An authorized driver plan covers the insured, the primary driver (if not the policyholder) and anyone else you allow to drive your car. Although the Authorized Driver plan is 15% more expensive, your premiums will still be some of the cheapest on the market and can work in your favor if your car tends to be shared by a lot of relatives.

Budget Direct’s downside is its basic coverage, which is why we recommend it for experienced, confident drivers who don’t need to protect young passengers and don’t require comprehensive medical, accident or belongings coverage. Budget Direct mainly offers cover for damage to your car, towing and third party damage, so if you want medical, personal accident, accessories cover or roadside assistance, you’ll need to pay extra.

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If you want to maximize protection for your family, FWD’s Classic plan has highly competitive premiums and solid accident-focused coverage. Married policy premiums are 15-25% cheaper than average and you can choose to adjust the standard excess depending on your comfort level and budget. Additionally, if you have a 50% no-claim discount, you will qualify for their 50% NCD Lifetime Guarantee.

If you want to insure your young drivers, you can also opt out of their S$2,500 Young/Inexperienced Driver Excess (YIDR). While this will slightly increase your premium, it can save you around S$2,000 out of pocket if your child has an accident while driving your car. Furthermore, you don’t need to name your drivers – FWD will insure anyone who drives your car at no extra cost.

The FWD Classic cover includes S$1,000 medical cover per passenger, lump sum payments for drivers and passengers due to death or permanent disability and a lump sum payment of S$250,000 in the event of an unfortunate accident where your children are left alone. These benefits are in addition to covering the cost of towing, temporary transport and car accessories. The only downside is that there is no cover for child car seats, so if you have children who need them, you will have to pay for any damage out of pocket. However, for about a 15% price increase, you can opt for the FWD Executive Plan, which adds S$1,000 worth of personal effects cover and a free replacement car for up to three months if your car is totaled – a good compromise that provides valuable protection and comfort.

Cheap Motor Insurance

If you have young children, Aviva Prestige’s comprehensive car insurance plan may be a good fit as it offers cover for the family at competitive prices. We found premiums for married policyholders to be around average compared to other comprehensive plans, so while it’s not the cheapest plan on the market, it offers family-friendly benefits rarely seen with other insurers. This includes a replacement car benefit for cars up to 24 months old, a young/inexperienced driver excess exemption and a S$250 child seat benefit along with a host of extras.

Periodic Table Of Car Insurance Savings

In addition, Aviva offers a host of peace of mind benefits, including an accident repair service to help you during an accident, free transport services to get you home after an accident, 24/7 roadside assistance and medical and personal accident cover. Another convenient benefit is Aviva’s two-year plan option which saves you an extra 5% on your premium. Overall, Aviva is a great option for new families expecting their first child or families with multiple children due to its comprehensive family-friendly coverage.

If you have multiple cars or your family car is a luxury vehicle, you’ll benefit most with Direct Asia’s competitive pricing, customizable coverage and a 10% premium discount on your second car. We found Direct Asia’s value plan to be one of the cheapest options for experienced drivers of luxury vehicles such as BMW, Audi or Mercedes, with premiums around 20% below average. It’s also one of the cheapest plans on the market for new drivers who have just bought a luxury car, with premiums costing 16% below the average for drivers with 0% no-claims discount.

Since you’re likely to trust fewer people with your car the more expensive it is, the Value Plan saves you money by limiting the number of additional named drivers to 4, of which 2 can be your junior drivers (under 30). Additionally, unlike most plans that limit your ability to get a replacement car to 12 months, Direct Asia offers the option to extend this period to 24 months, which is a great benefit for luxury car owners.

In terms of coverage, Direct Asia has comprehensive accident and damage coverage, covering everything from fire or vandalism to floods and natural disasters. It also offers various benefits to add to your plan to make your policy suitable for your needs. If you already have a trusted garage, you can choose to allow repairs at any workshop, add protection for driving outside Singapore and get up to S$500,000 in personal accident protection. you

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