Having Multiple Car Insurance In Singapore
If you own more than one car and you want to insure all of them because other cars are being used by your family members, you should look into how you can save more when you do the comparison and take up with different car insurance companies. One of the easiest ways to save on car insurance is to insure multiple cars with the same car insurance company? This is definitely not true but do note of the terms and conditions when you take up with different insurance companies.
Following are the scenarios that will be helpful:
When you get married e.g. you'll save because married drivers tend to file fewer claims and thus get lower rates. A good driver discount requires a clean record.
Your Family Members:
If your car is also used by your family members then you can register their names as drivers of your car, this could be only possible if they have their own driving licenses, however this will cost you more.
Certain insurance company allows anyone to drive the car but exclude the family members so do take note of this and don't assume that the policy is the same for all car insurance companies.
Young & Inexperience Drivers:
For drivers who just pass their license or less than 1- or 2-year driving experience will be expensive to include them under the named driver category. Another factor is age and if he/she is less than 25-27 years old, they will be consider young driver and both the scenario will make the premium higher if you include them. One way to avoid the hike in premium is to exclude them to be the named driver but do note that if accident happen, the own damage excess will be high and it will be from a range of $5,000 and above depends on difference car insurance companies.
Car Insurance for Different cars:
Certain car insurance companies are good at certain offers e.g. If you have high claims, Young Drivers, High Performance car, Classic car. Therefore, one insurer might not be able to fit in to all your needs.
**Benefits of a Fleet Policy (Under Company):
Besides any discount, you can insure all your vehicles with one policy with one renewal date and one payment date.
If you get a separate insurance policy for each vehicle you not only miss out on the discount but you also have to keep track of all the multiple bills and due dates of every month.
The benefits of the fleet policy is when you have a bulk discount or special rate due to the higher volume of cars you can insured with the particular car insurance company. However, do note of the pitfalls when it can go reverse due to high claims.
Can I insure a car and a motorcycle on the same policy?
No, since the motorcycle would need a different motorcycle policy and not an auto policy.
Get a car insurance quote now.