Cheap Car Insurance For Young Drivers – If you are a new driver, a comprehensive car insurance plan is essential. We’ve analyzed hundreds of car insurance offers and benefits to find the plans that offer the most competitive premiums, the best coverage, or a combination of both.
Because car insurance companies see a greater risk in young or inexperienced drivers, premiums tend to be higher for drivers under 27 years of age or with less than 2 years of experience. However, if you show your insurance company that you are a responsible driver with a clean, accident-free driving record, you can expect your premiums to drop significantly by increasing your no-claims discount bonus by 10% each year (up to a maximum of 50 %) . Until then, you can still find car insurance plans that offer excellent protection at affordable prices.
Cheap Car Insurance For Young Drivers
If you’re a new driver looking to minimize accident or repair costs, Budget Direct’s comprehensive car insurance plans offer premiums that are 48% cheaper than the average for male drivers and 33% cheaper than the average for female drivers guide. It also has the lowest new driver excess of S$500 for drivers aged 25 and under. Since other insurance companies usually charge an excess of S$2,500 or more for young/inexperienced (YIDR) drivers, Budget Direct’s low excess for young and inexperienced drivers can help you save up to S$2,000 out of pocket if you have an accident and repair work big needs to be done.
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The downside to Budget Direct auto insurance is that the benefits other insurance companies include in their plans are only offered here as add-on purchases, including medical, personal accident, and roadside assistance. However, because the prices are already low, whether you choose more extensive coverage or are comfortable with a basic auto insurance plan, you’ll get a comprehensive plan that maintains affordability.
With premium costs 10% below the average for young or inexperienced male and female drivers, the FWD Classic car insurance plan is a great choice for first-time car owners who don’t yet have a no-claims discount (NCD). However, this policy is very budget-friendly for drivers in their late 20s and above. First, drivers in their late 20s will see their premiums drop by 20% compared to younger drivers (even though they have more experience). Second, FWD charges an additional S$2,500 for new drivers for drivers under 27 years of age.
Despite its low price, FWD car insurance offers comprehensive benefits such as medical and personal accident coverage, car accessory benefits, roadside assistance, and loss of use. Some of these benefits can provide peace of mind for new drivers. In particular, roadside assistance support is available even if you have not had an accident and only need the battery. FWD also rewards loyalty and safe driving with certain benefits such as 50% Lifetime NCD after you remain claims free for 5 years.
Young Driver Car Insurance
The best car insurance package for new or novice drivers, especially those who are members of MINDEF/MHA, is Singlife with Aviva Lite car insurance. Singlife with Aviva’s Lite package is the cheapest option for new or inexperienced drivers, with premiums around 30% cheaper than the average for male and female drivers. This offer is very competitive for MINDEF/MHA customers as there is an additional 15% discount on top of the ongoing offer.
Additionally, you can agree to their policy as soon as you turn 21 and eliminate the young driver advantage once you turn 25 — a feature that most companies maintain until you are 27. The coverage is quite basic, making it less than ideal for inexperienced drivers. However, if you rarely drive or had a fair amount of driving experience as a teenager, the affordability may outweigh the lack of included amenities. If the Lite plan’s coverage isn’t enough, choosing the more expensive Prestige car insurance plan will eliminate your new driver excess and give you more benefits.
The best car insurance package for new or novice drivers, especially those who are MINDEF/MHA members, is Aviva Lite car insurance. Aviva’s Lite plan is the cheapest option for new or inexperienced drivers, with premiums around 30% cheaper than the average for male and female drivers. This offer is very competitive for MINDEF/MHA customers as there is an additional 15% discount on top of the ongoing offer.
Cheapest Car Insurance For New Drivers
In some cases, it’s more economical to have your parents buy car insurance or to stay on your parents’ insurance until you’re old enough to see big discounts on your premiums. With the Prestige FWD car insurance plan, not only will your parents have one of the best value plans on the market (whether they’ve signed you up as a licensed driver or not), but you can also choose to forego the entire S. $2,500 and still pay an average of 70% less than if you purchased a basic comprehensive policy in your name.
Compared to the basic comprehensive car insurance plan, the Prestige plan offers more benefits and much higher coverage, including S$80 per day alternative transport, S$2,000 car accessories cover, and a replacement car for up to 3 months if your car is stolen or damaged. It also covers replacement, installation and transportation of damaged car parts and offers 24/7 roadside assistance to help you in the event of a breakdown or accident, giving you and your parents maximum peace of mind.
When new or inexperienced drivers see the highest premiums, it’s always worth looking at discounts that can make your car insurance more affordable. With that in mind, we’ve compiled a list of the current promotions available, along with their codes (if any).
Get Best Cheap Car Insurance For Young Drivers In 2023
There are many factors to consider when deciding on a car insurance plan. Understanding your insurance needs, driving experience and budget is key to finding the best policy for you. As a new and inexperienced driver, you can benefit greatly by choosing a plan that offers extensive accident-related coverage.
Plus, car insurance is expensive, so you don’t want to pay for unnecessary coverage. Understand exactly what you need for your insurance and compare prices to find the cheapest option to suit your needs.
Yes, drivers are covered by insurance when driving outside Singapore if they drive in West Malaysia and Southern Thailand (within 80 km of its border with West Malaysia).
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To find the cheapest car insurance plans for young or inexperienced drivers, we used the driving profiles of men and women aged 25 and looked at the differences in premiums across 12 different car insurance companies in Singapore. We then compare the coverage on offer to see which package is best suited to inexperienced or new drivers (for example, inexperienced drivers may want to look at roadside assistance and personal accident cover, while younger drivers may be more interested in protecting their car . accessories). Using this data, we can not only break down which car insurance companies are the cheapest, but also which plans most benefit the driver’s profile.
Anastassia is a Senior Research Analyst in Singapore, evaluating insurance products for consumers based on quantitative and qualitative financial analysis. He holds a degree in Economics and International Business Management and his previous work experience includes working in the capital markets sector. His analysis of insurance, healthcare, international affairs, and personal finance has been featured in AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, Australian Institute of International Affairs, and others.
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The cost of car insurance for young drivers is notoriously high, with 17 to 24 year olds often paying over a thousand pounds a year for the privilege of being on the road.
Cheapest Car Insurance For Drivers Under 21 (2023)
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