Potentially save $620 annually by comparing car insurance quotes before buying a policy. Insurance providers offer varying coverage benefits, so it’s essential to compare quotes based on your specific coverage requirements and associated premiums.
You can achieve a lower premium by choosing to increase the insurance excess on your policy. The excess represents the initial out-of-pocket amount you are responsible for before your insurance provider covers the remaining costs following an accident. While your policy quote includes a standard excess amount that is mandatory, you have the flexibility to propose raising this excess in exchange for a reduced premium.
More than 33% of drivers in Singapore miss out on potential savings on their car insurance premiums because they automatically renew with their current provider. As an existing policyholder, you might not receive the most competitive premiums for the next year. Avoid the error of feeling compelled to auto-renew your car insurance simply because of a lack of information or time.
