What are some of the best ways to get a good deal from your car insurance? Primarily, you need to focus on the basics: avoid monthly payments, find specialist policies, and compare the market at much as possible. At the same time, it’s worth looking for providers such as Direct Asia Singapore that can offer you flexible and advanced options for no claims bonuses, excesses, and other terms and conditions. By exploring these, and other factors, it’s possible to save money and get more out of your car insurance.
Monthly vs. Annual Cover
While it might seem easier to spread your insurance premium payments out over the year, it can end up costing you more money in APR and other charges. A single payment every year can be budgeted for so you don’t have to worry about it until a renewal or change in your policy.
Look for Specialist Policies
Many drivers suffer as the result of being in a high risk group for insurers, with young drivers and drivers with criminal records being just some of the vulnerable groups that receive higher than average premiums. To this end, you should look out for specialist policies that feature flexible terms and conditions.
Compare the Market as Much as Possible
You need to ensure that you’re regularly checking the insurance market for the best deal; this is especially the case if your driving routine is changing, or if you’re going abroad and need to make sure that you have the right level of cover.
Explore No Claims Bonuses
Different insurers will have different rules when it comes to no claims bonuses. You need to see whether you can benefit from a clean driving record, and if an insurance company offers protection for your bonus.
Pay a Higher Excess
While paying more money towards the cost of a claim might seem to be counter-intuitive, if you’re a safe driver this approach can help you to lower the cost of your premium. Make sure, though, that your raised excess is practical.
Investigate Multi-Car Insurance
Some insurance companies will provide discounts if you register multiple policies with them; this can be the case when you sign up for bundled packages for a family or a household, and can be a good idea if you’re happy to get all of your insurance from the same provider. Getting other forms of cover, which might include home insurance or travel insurance, through the same provider can also increase your eligibility for savings.
Demonstrate a Strong Commitment to Security
Insurers will be more flexible over your premiums if you can prove that you’re serious about your car’s safety. Some extra steps you can take to secure your vehicle can include fitting an immobilizer, parking in a garage overnight, and taking advanced driving courses to make you safer on the road.
Maintain a Good Credit Rating
You can improve your chances of getting a good quote on your car insurance by maintaining a strong credit rating; this means clearing off old debts, and avoiding the habit of applying for multiple forms of insurance over a short space of time.
Derek Latimer blogs about how to save money as a car owner. For affordable car insurance, he recommends using Direct Asia Singapore. He also likes to blog about his experiences travelling in China over the past few years.