Here's How To Pay Less For Insurance!

Here's How To Pay Less For Insurance!

Ah insurance. No one likes paying for it, yet we all hope it covers us should the worst happen. There are 3 types of coverage you can purchase. Third Party Coverage is the bare minimum needed to be covered legally, but if you are particularly accident-prone, perhaps comprehensive insurance might be more suitable for you. 

OneShift Editorial Team
OneShift Editorial Team
08 Mar 2021
Never Auto-Renew!

Ah insurance. No one likes paying for it, yet we all hope it covers us should the worst happen. There are 3 types of coverage you can purchase. Third Party Coverage is the bare minimum needed to be covered legally, but if you are particularly accident-prone, perhaps comprehensive insurance might be more suitable for you.

Regardless of whatever policy you choose to buy, chances are that if you took the path of least resistance, you are literally throwing money down the drain.


Comprehensive insurance is not a must in all situations. If you took a large loan from a bank to buy said car, they may require you to buy such a policy to cover their investment.

Choosing The Right Policy For Your Needs

If however, you own a COE car that has already been fully paid for, and really is not worth all that much even as scrap, perhaps a lesser policy will suffice. Downgrading therefore, can yield the most significant savings. That being said, only opt for lesser coverage if it is a vehicle that is not all that valuable, or that holds much sentimental value.


Another way to net huge savings, is to perhaps not only downgrade your insurance policy, but your actual car itself. Certain cars cost more to insure, so switching to a more economy-oriented vehicle can save you quite a large chunk of change.

So Just How Can I Save On Insurance?

Here’s the thing - do you really need your obscenely overpowered saloon to get around in?

If downgrading either your policy or your ride is a thought that you are unwilling to entertain, fret not, for there are ways to still save money on your car insurance.


This is probably the simplest way to save on your insurance if you regularly get into automotive-related kerfuffles. Hear us out here - they may be a top-up when you originally paid for your existing policy, but the investment may pay dividends.

5. NCD Protectors

A good NCD protector can save you hundreds annually. Certain insurers allow a set number of claims without affecting your hard-earned NCD, which is perfect for the careless amongst us!


Excess is the amount of money you have to fork out upfront before your insurer would foot the bill. By increasing your excess, your insurer would have to payout less in the event of a collision.

4. Increasing Your Excess

As such, your premium will decrease, and for two reasons. The first is fairly obvious, with insurers at less financial risk. The second is more psychological. Look at it this way - you will not pull off reckless moves on the road if you know you need to cough out large wads of cash to pay for repairs, wouldn’t you?


There are loyalty/membership cards with perks that extend far beyond just discounts at your favourite choice of sporting establishment. These institutions have clubs that offer promotions on not just automotive-related expenditure, but for lifestyle ones as well. It can be good to have around, if you meet the criteria.

3. Membership Discounts

But let’s be honest, we are really only interested in the car insurance bit for this article. Savings can be had of up to 25%, depending on if you applied for a new policy during a period where a promotion is ongoing. Even sans promotion, these cards tend to automatically grant you savings of at least 10% - so if you have the luxury of having such a card, consider making full use of it to save some cash!


There are many ways for you to save money on car insurance by using a credit card. You can get cashbacks on some cards, and rewards points on others, both of which can then be put away and spent on other things.

2. Credit Card Discounts

But greater savings can be had, if your choice of bank has an existing partnership with an insurance company. Some of these tie-ups are designed to not only save you cash, but time too. They are able to generate multiple quotations from different partner insurers, which affords you the luxury of comparing and choosing the lowest quote!


Insurance definitions change annually. Your profile and risk assessment is therefore affected as well. If you choose to auto-renew your policy, chances are that your insurer would simply just use your existing quote, and revalidate it for another calendar year.

1. Never Auto-Renew

Cars get progressively cheaper to insure up to a point. Especially true for the younger and less experienced drivers, shopping around for another policy means a fairer assessment of your driving history. At a certain threshold, premiums plummet. The combination of all 3 factors can net you thousands in savings yearly!


Ultimately, the biggest savings can be had if you’re willing to trade in your fancy new car for a COE-renewed example off Carousell Autos! If that is a thought you are willing to entertain, we have swiftquote, which pools on our extensive network of dealers to come up with a good offer for your existing ride.

Cheaper Cars And Lower Rates

You can then buy a more run-of-the-mill vehicle from here. With thousands of listings already live, and with more added daily, there definitely will be something for everyone, regardless of their needs or budget!

Credits: Jek Ray Low

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