Singapore Car Insurance

Singapore Car Insurance: How to Get Discounts on Car Insurance

There are many tips to get car insurance in Singapore. Insurance costs in Singapore have been greatly reduced compared to the prices in the US and other European countries. Singapore has also established itself as a good automobile safety nation. 

Before we get into tips in getting best car insurance in Singapore, let us take note of two important issues. First, when you apply for car insurance in Singapore, you have to be a named driver. Insurers use your name as a reference to calculate a minimum insurance premium (the price they will charge you). As such, the price of car insurance premiums varies from one individual to another. For this reason, it is advisable to choose a named driver when you apply for a car insurance policy in Singapore. The list of named drivers and their responsibilities in Singapore are as follows: 

Your responsibilities as a named driver include the responsibility to obey the traffic rules and regulations in Singapore. This means that you need to drive your vehicle under the speed limit and you need to use the correct gear. Additionally, you need to keep to the right hand lanes when you are driving to ensure that you do not exceed the speed limit. These and more, if you are a named driver in Singapore, will increase your premium compared to those who are not. 

Aside from being named driver, you also have to pay higher premiums when you are male than when you are female. Statistics have shown that men are involved in a higher number of accidents when compared to women. This is due to their tendency to drive fast. Hence, an increasing number of insurers have decided to charge higher premiums to named drivers especially those who are male. If you are a named driver, you can request for a reduced premium based on certain factors such as your age, marital status and driving record. 

Take Advantage of the discounts 

There are also some Singaporean insurers who offer discounts and other types of special benefits to foreign drivers. They provide discounts on the application of the policy and when the policy is renewed. For these discounts to be applied, you may need to present your foreign driver’s license or passport upon renewal of your auto insurance in Singapore. Foreigners who get involved in any accident when they are in Singapore, their foreign drivers’ licenses or passports are automatically suspended. However, you may get a chance to resume your privileges when you clear the eligibility requirements. You may be required to present the relevant documents upon renewal of your auto insurance in Singapore. 

Prepare Necessary Documents 

You can get the best car insurance in Singapore by making sure that you have the necessary information and documents at hand. As a buyer, you should be able to know and understand the different types of coverage provided by car insurance in Singapore. When you first decide to purchase car insurance in Singapore, do not forget to ask the various insurers or agents about the claim discount. This is one of the most important discounts that you can avail when you purchase car insurance in Singapore. Your agent or company should be able to tell you the exact procedure in claiming your claim discount. Some companies provide their clients with an NCD certificate upon the successful claim for the car insurance in Singapore. 

If you own a workshop in Singapore, you will find it easier to get the insurance for your workshop through a workshop insurer than getting it from the general insurer. If you have more than one vehicle registered in your name, you will also benefit from a claim discount. However, you should make sure that you contact your insurer or broker directly and inquire if they offer this benefit for multiple vehicles in your name. If yes, you should ask your insurer to add your car to their list of insured vehicles for the purposes of getting the workshop facility covered by the insurer. 

Keep Your Driving Record Clean 

Lastly, you need to keep your driving record clean-free of any accidents or traffic violations. If you have a clean-track record, your premiums will be lower than drivers who have a bad driving history. Singapore has some of the strictest policies in the world when it comes to car insurance so you must comply with the rules and regulations of the country regarding the registration and licensing of drivers. If you have an active driver’s license and are looking for cheap Singapore car insurance, you can always use the Internet to get quotes from different companies so that you can compare them and choose the most affordable policy that will suit your needs. 

Finding for the best car insurance is the same like finding the best travel insurance in Singapore or other types of insurances. It starts with the research.