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The price of your car insurance premium ultimately boils down to your age, gender, years of driving experience, car model, age of car and more. It is also dependent on your NCD (if any), which can range from 10% to 50%. If you’re looking to lower your premiums, you can also consider increasing your excess.

Car insurance premiums can range from S$400 to upwards of S$3,000 annually, depending on the type of car insurance you are getting: Third Party Only, Third Party Fire and Theft, and Comprehensive.

Some of the key factors that affect the premiums include your age, gender, years of driving experience, occupation, NCD, car model and how old the car is.

Here are some tips for you to snag affordable car insurance:

• Compare free quotes online (don’t just settle for the first plan you land on!)
• Drive safe to avoid accidents and bump up your No Claims Discount (NCD)
• Opt for lower coverage on older cars as the premium prices could be higher than your car’s market value
• Maintain a good credit score
• Increase the excess
• Opt for pay-per-kilometre insurance
• Be on the lookout for discounts

Research and compare available car insurance policies based on your desired coverage, premium rates, policy excess and NCD.

Check out our car insurance premium comparisons here.

Premiums and excess are usually a lot higher for new or young drivers. You also don’t enjoy the cost savings of NCD just yet. If you’re new to driving, it’s best to get a comprehensive plan that covers for all possible damages in the event of an accident within your budget.

You can cancel your current car insurance policy and receive a prorated refund

You can request for your next car insurance company to transfer your NCD to the next policy if it’s within the NCD validity 2-year period. However, do note that your NCD will only last for one to two years, depending on the insurer. This means no discounts once your NCD expires

Most car insurance premiums cannot be negotiated as the prices have already been set by the company. However, you can enjoy a lower premium price if you have a good track record with a high NCD and increase the excess.

As it takes time to compare the best plans available, you should start looking for car insurance before you receive your new car. Car insurance plans allow you to select a start date, so you can make the insurance purchase earlier and set the insurance start date to coincide with the date you start driving the car.

Get all the help you need (including car insurance renewal) by contacting the Insurance Customer Service Team at insurance_enquiry@singsaver.com.sg or by phone at 31382648 for more information.

Review your current experience with the insurer and reevaluate your requirements. Take a look at this article to see what car insurance plan is best for you and compare quotes to see how much switching your car insurance could save you.

You can also contact the Insurance Customer Service Team at insurance_enquiry@singsaver.com.sg or by phone at 31382648 for more information.

If you cancel when your car insurance is up for renewal, there is no penalty and you have the right to swap to any other insurer. If you choose to cancel your car before the renewal period, you could receive a refund amount, depending on the remaining period of your insurance.

However, if you’ve made a claim, it’s unlikely that you’ll get any refund.

The final NCD entitlement is subject to confirmation from your previous insurer. Your new insurer will be responsible for confirming your final NCD entitlement. If your previous insurer confirms that the NCD is lower than stated in your application, you will be required to pay the difference in premium (even if your application is already issued).