You can sign up a cheap motor car insurance even if you have no experience handling such matters before. If you would take care of 2 major factors when buying automobile insurance, you can essentially reduce your cost. These 2 factors are the vehicle insurance coverage and your choice of riders.
automobile insurance premium is highly affected by the type of coverage you pick. There are 3 types of coverage - Comprehensive Coverage, Third Party Fire and Theft and Third Party Only Coverage. You'll shop for a Third Party Only coverage when you want to insure your car only against damages to other people's vehicle and property. This also compensates for bodily injury caused by accident. The Third Party Fire and Theft insurance compensates for the loss of your car through fire or theft, in addition to the coverage as described for the Third Party Only coverage. Comprehensive coverage gives you the most financial protection by compensating for any damages to your automobile and to other's vehicle or property as a result of an accident.
With these 3 types of car insurance coverage in mind, which would you choose?
If the value of your car is substantial and you'll want to protect it from loss, you may want to sign for a comprehensive car insurance. However if you drive a functional car that doesn't cost much, you may want to consider the Third Party Fire and Theft coverage or the Third Party Only coverage.
Since the price difference between these 3 car insurance policies are substantial, you may be saving a big amount by purchasing the correct coverage.
The second most important attribute of car insurance is the choice of riders.
Rider is a very important characteristic of a car insurance policy. They allow the car insurance policy to support specific needs you may have. It also helps to save you money. This is because taking up separate (individual) insurance policies will result in much higher premiums.
There are different riders to choose from. Windscreen coverage, loss of use coverage, accessories coverage, age condition benefit, any-workshop benefit, extended medical and accident coverage and additional driver coverage are some riders you can make use of to serve your needs. These features may already be included into your car insurance policy, or they may exist as separate entities, to be added when you want them.
The premium of each rider ranges from 3% to 10% of the insurance policy. Thus it'll be wise to evaluate whether you need them before you sign on the dotted line. If you leave out all the riders, you may be saving as much as 15% from your motor car insurance premium. This means if you have to fork out $1,000 for your vehicle insurance this year, you may only have to pay $850 for your motor car insurance.
If you take a little time to consider what you are buying, you are very likely to end up with an appropriate car insurance that doesn't cost you an arm and a leg. All it takes is to look at the type of car insurance coverage and the riders that come along with your insurance policy.
Author Resource:
If you are looking for car insurance quotes , here is a FREE service many car owners rely on => http://www.motorinsurancesingapore.com
John Amical, the author of this article, is a recognized expert in car insurance with more than 18 years of experience.
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