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3 Ways To Avoid Paying More For Your Car Insurance Policy

Owing your personal car in Singapore already costs you quite a lot. Plus, you have to own a property there in order to stay. Summing it up will definitely bring wrinkles in your forehead, meaning, the total amounts to be quite a lot of money. In such a scenario, should you pay exactly what is required or be a fool and pay more than what is necessary that too behind your car insurance? Obviously, you do not wish to be a fool purposely. Already, you have suffered quite a lot of mental and financial turmoil in buying the car. It is really unfortunate to see you with a grumpy face because by the time you overcome the shock of purchasing a new car, another ghastly phenomenon arrives. You end up paying uselessly behind a hopeless car insurance policy. Paying dollars behind bad car insurance is not only wasting money but also cutting down from your savings that could have been utilized in your later life. Car Insurance Singapore provides you some amazing tips so that you can manage your car insurance policy without getting bankrupted at one go.

  1. Avoid The Middleman

To purchase car insurance, you have two roads to follow. One, you can either catch hold of an agent who will purchase it for you and two, you can be a self sufficient guy to purchase it directly from the insurance company all by yourself. Well, there has to be a slight difference between the two methods. If you are a beginner in this business, it is better for you to meet up the agent face to face, discuss some light matters with him may be over a cup of coffee and pay him near about 20%-30% more in terms of your car insurance than purchasing it straight from the insurer. Of course, that will be a good and profitable cup of coffee. It is true that agents will help you know the processes through which you can save money. But the harsh truth is that you can do this affair all alone instead of hiring an agent provided you have knowledge about the methods of lowering down the premium of your insurance policy. If you buy directly from the insurer, you will be facilitated by the same savings as the agent gets when he takes up the responsibility on your behalf. In fact, you can an added benefit of 20%-30% reduction that is charged as agents’ commission percentage. Also, keeping aside agents who work normally, you can operate your car insurance online at any time of the day without having to wait for the agent. Again, the HL Aussurance also pays attention to the process through which you can get information at ease without going for a tedious research work.

  1. Avoid Too Much “Excess”

All car insurance bearers have heard of the ‘excess’ payment. Now, what is this ‘excess’? the excess amount upon your car insurance denotes the amount of money that you are required to pay to your insurer prior to claiming the complete amount that you have fixed in your insurance policy. This result in a great differentiation in the amount that you will pay as your monthly premiums, that is, the higher is the excess amount, the lesser you will have to pay per month. Isn’t that good news? Well, the answer is both yes and no. Yes, it is a controversial situation. Definitely you will save more as your monthly payment will be reduced. But the tactics is that more amounts will be charged upon you during an accident. The worse part of this is that whatever the financial burden be, you are bound to pay it without making any hassle. Let me give you an example. Suppose you have an excess amount of $2000. In the meantime, your car faces an accident that destroys the entire work of art to a mere piece of shit. You are handed down a repairing bill of $2500. So, you require an amount of 2K. But your insurer is not generous to pay you whatever you need. Instead, it only provides you $500. Now, your excess is nothing but $500. What happens next is that your insurer is charged with the remaining amount, that is, $2K. Therefore, the moral is if you go through a hugely congested area on a regular basis like the Central Business District (CBD) , where there is a high chance of getting accident prone, less amount of the excess money will yield to secure much time.

  1. Avoid Being Too Comfortable

Are you stuck to the same car insurer for your insurance? Have you analyzed your insurer? Or have you taken a second opinion from others regarding your insurer? If not, then there is a chance that you have already spent thousands and thousands of dollars behind one insurer. Especially if your insurance is looked after by an agent, the money wasted will obviously count to much more. It is not a difficult task to get easy and comfortable with your insurer and let him know that you are enjoying a good deal. But if your insurer at all gets a renewal discount or you get it if you are directly handling with the insurance company, you are likely to be paying much more than you actually realize. Again, go through an example to make a better understanding. Consider two insurers, A and B. Insurer A facilitates coverage to his clients for every kind of drivers however bad or worse he might be. He puts on heaving charging on monthly premiums than insurer B. Insurer B is quite selective in his campaign. He only provides coverage to those that are safe on the road while driving and is experienced with their steering. Now, if you are considered a safe driver, don’t you think you are paying more every month if you are insured under insurer A? Definitely you are because insurer A does not even know to make a difference between good and bad drivers. A year or two without an accident cannot be guaranteed. It s better to look around for quotes than actually sticking to a similar insurer because one insurer for a lifetime not only fools you but also takes advantage of your belief upon him. You can log on to Money Smart so that you can make a clear comparison between what your insurer is ensuring you what others are ensuring to its agents.

An important note for all the readers of this article. Before you go to select any car insurance policy be sure enough of its whereabouts so that no one can bluff you. Know about all the restrictions, penalties, discounts and the entire details of car insurance. It is better to opt for HL Aussurance because it provides you with all the facilities as has been discussed above. Also, the company is benevolent enough not to make its agents get frightened. This Singapore based car insurance company is renowned worldwide for it has a wide variety of staffs not mingling with their clients but leading them to a happy and secured life.