Ways to lower your car insurance premium!

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Motor insurance is an essential requirement be it if you are buying a brand new car or a used car from a car dealership or car mart in Singapore....
Motor insurance is an essential requirement be it if you are buying a brand new car or a used car from a car dealership or car mart in Singapore. Driving on the road without motor insurance is actually illegal in Singapore.
We believe that a car is an essential and a necessity be it is your intention to use it for commercial purposes or simply to ferry your family from point A to point B and to travel for work.   Here are some tips to lower your insurance premium!   Opt to increase your insurance excess   The excess is the amount of money you have to pay first before you can make a claim.
For example, your insurance excess is $500. This means when you are making a claim, you have to pay $500 out of your own pocket before your insurer handles the rest of the claim.
Though, with a higher insurance excess, you will get a discount on your premium, this also means that in case of an unfortunate event, you must be able to fork out a little bit of extra cash at that very moment.   Opt to visit the Insurer-Authorised Workshops   Every insurer has a panel of workshops that you can send your car for repairs and accidents.
However, there are car owners who prefer to repair their vehicle at their preferred workshop.   If you insist on visiting your preferred workshop there will be an additional markup on the insurance premium.
Hence, by agreeing to visit only the approval panel of workshop by the insurer, your premium will be lowered again since most insurance companies would have a slightly more expensive plan that lets you choose your own workshop   Avoid purchasing a cars with modifications   Every insurer will have a list of add on premiums for your vehicle’s enhancement or modifications. If you declare your modifications to the insurance company, your premium will definitely increase.
However, if you do not declare your modifications, you may experience difficulties when making a claim in a case of an unfortunate accident.   No claim discount (NCD)   No claim discount is a reward from the insurance to the driver for good driving behavior.
Basically, if you have been driving for a year without any insurance claim, you will be given a 10% NCD. Your NCD will be at 50% after 5 years of driving without any insurance claim.    50% NCD also means a 50% discount on your premium.
So, if your premium is S$1000 a year, after the 50% NCD has been deducted, you’ll only have to pay S$500 for your premium!     Certificate of Merit (COM)   A Certificate of Merit (COM) is by the Traffic Police to show that a person has been driving safely in Singapore for the past 3 years without any demerit points. By attesting to your safety records as a driver, you are entitled to more discounts to your insurance premium!    In short , nobody wants to pay an extravagantly high amount for their insurance premium.
Especially during your drive away when you also have to prepare your first installment payment which will cause a dent on your wallet. Do start alert and drive safe from everything you are behind the wheel.    We understand that everyone has different needs.
When you purchase a car from otua.Auto, we will provide you with 6 insurance quotations with different types of coverage. Otua Auto is also able to provide you with a 12 months credit card installment plan for your insurance purchase!      To consign with Otua and find out more about our services, please feel free to drop us a buzz in email/whatsapp or Facebook.
  Source: Free Articles from ArticlesFactory.com Otua Auto is a Singapore based car dealership..