1) Increase your credit worthiness
Statistics
have proven that people with poor credit ratings tend to have higher
accident rates. Insurers prefer responsible people. So always pay your
credit
card bills on time, and try not to swipe more than half your credit
limit.
2) Add an older female driver to your policy
Older drivers and female drivers have statistically proven to make less claims. That means lower premiums for you.
3) Ask for a higher Excess
The
Excess is the portion of the bill that cannot be claimed. If you bear a
higher excess, the insurer will charge you a lower premium. Try to go
for an excess as high as you can financially tolerate. This might make
sense especially if you do not drive very often.
4) Get a Certificate of Merit (COM)
The
COM is issued by the Singapore Traffic Police if you have not violated
any traffic rules for 3 consecutive years. Some insurers give a discount
for COM holders.
5) NCD Protector
If you have
diligently reached 50% NCD over your driving career. Congratulations!
You may find it useful to purchase a NCD Protector. This will lock your
NCD at 50% even if you suffer a claim.
6) Get multiple insurance quotes
Different insurers calculate risks differently. Therefore premiums can vary amongst insurers. Get a few quotations and compare.
