Sourcing for Cheap Car Insurance and Benefits

There are many different bills we have to handle every month. The last thing anyone welcome is the renewal notice of car insurance. Most of the time you may think it is a waste of money, or even being forced to buy since it is mandatory to have car insurance in Singapore for all car owners, even if it is just a Third Party Only insurance. You may start to source for cheap car insurance or cheapest car insurance via search engine. There are so many insurance companies in the market such as AIG, AXA, NTUC, FWD, Direct Asia. Be it direct insurer or not, your core concern should be finding the most competitive rates and benefits. In the event of a claim, all these benefits such as No claim discount protector, excess waiver or loss of use and many more would help to brighten up the day a little in the mist of frustration.

No Claim Discount Protector (NCD Protector)

NCD protection/protector means that if you get into an accident, your NCD will not be affected on your next renewal of the policy.

Excess Waiver

You need not pay for your Basic Own Damage Excess if you have excess waiver. However different insurer has different tier of waiver.

Loss of Use

Insurance company either provides you with a replacement vehicle or daily transport allowance while your vehicle is being repaired at the workshop due to an accident. The amount they provide also differs for different insurer.

Insurance company will either package some of these benefits free of charge or with additional premium. Buying online these days is easy and convenient, but more often than not, we need to be aware of the terms and conditions from all different insurer. It is advisable to contact the insurer hotline when in doubt, if you purchase from direct insurer. However, if your policy is purchase via an insurance agent or broker. You should contact your agent/broker for clarifications on your coverage. 

(see: Find cheaper car insurance with our money-saving tips)