People must purchase car insurance as it can protect their car from all kinds of damages. There are many types of car insurance policies available in HL Assurance SG and people can purchase the one that suits their requirements. Besides the type of policies, people also need to check the car insurance quote so that they can pay the premium without disturbing their budget. Here are how they can use to reduce car insurance quotes.
Insurance of Multiple Cars or Drivers
If an applicant goes for purchasing the policy for a single vehicle or driver, the car insurance quote will be more. In case, he goes for insuring more than one vehicle and drivers, the company will offer a good deal. In the case of drivers, they should live in the same home and they should be either blood related or related by marriage. Two separate people may also get the policy but they must own one vehicle jointly.
Safe Driving Cuts Cost
The person needs to be a safe driver. They should not be easily distracted and concentrate more on driving. Distractions may cause accidents, which may raise the insurance rate. Companies also offer a discount of 10% to 20% but this discount depends on the driving record. If drivers violate any traffic rules, some points are awarded to them, which may affect their driving record. This is the reason for the rise in their high premiums.
Defensive Driving Course
Drivers must take the course of defensive driving as they may get a discount from the insurance companies if they complete the course successfully. Drivers will also be able to improve their driving record and may lessen the points, which they have got due to violation of rules. This will also help in getting a discount while purchasing the insurance policy. People must confirm the discount related to the course before signing the policy.
Shopping Premiums from Competitive Companies
There are situations when people have to renew their existing insurance. In such a case, there are chances that the rate of the premium may go up. People need to search for competitors who can provide insurance at a reasonable premium. People should check the car insurance quotes of various companies before choosing the one to renew the insurance. People need to check the premium rate every year. They should also check the other company rates, if they provide any low rate, they can avail it.
Size of the Car
Many people are fond of buying luxurious or big cars for their comfort. Such cars are also the cause of the high rate of premium. In the case of a hybrid car or a vehicle that uses alternative fuel, companies will give a discount of around 5%.
Increasing the Deductibles
When people buy a new insurance policy, they need to select an amount of deductible. This amount is deducted from the claim when the car is being taken to the workshop after the accident or damage. The deductibles fall in the range of $250 to $1000. The annual premium will be high if the deductible is low. People need to ask the agent or the company about the effect on the amount of premium if the deductible is raised.
Credit Rating Should Be Improved
Drivers’ records are being maintained so that they can know which driver has driven safe and which one caused the accident. For every accident or damage, points are given to the drivers, which are also included in the record. These points affect their driving experience and also affect the purchasing of insurance policies. Drivers who drive safely can get car insurance at a lower cost.
Comprehensive Cover Should Be Reviewed
People should review the comprehensive coverage of the car according to its age. If the car is very old and more prone to accidents, breakdown, or damage, then purchasing comprehensive insurance is not a good option. It is so because the company provides the value to the car after checking it thoroughly. If its value is little less than the premium, then purchasing such insurance for an old car is a wastage of money.
Discount for Anti-Theft Device
Premiums can be lowered down if people install an anti-theft device in their car. Insurance companies can give discounts up to 25% or more if they find this device in the car. People need to ask the agent or the company about the devices, which should be installed in the car to lower down the premiums. The cost of the device may be high but it will decrease the amount of premium.
These are some of the things, which people need to consider while purchasing a car insurance policy. All these things will help the people in lowering the amount of the premium that they have to pay yearly.