Cheapest Car Insurance For Young Male Drivers - If you are a new driver, a comprehensive car insurance plan is essential. We analyze hundreds of auto insurance quotes and benefits to find the plans that offer the most competitive premiums, the best coverage, or the perfect combination of both.
Because car insurers consider younger or inexperienced drivers to be a greater risk, premiums tend to be highest for drivers under the age of 27 or with less than 2 years of experience. However, if you prove to the insurance company that you are a responsible driver, have a good driving record and have not been involved in accidents, you can expect your premiums to rise through the no-claims discount bonus of 10% per annum (up ) to a maximum of 50%). Until then, you can still find car insurance plans that offer broad coverage at affordable prices.
Cheapest Car Insurance For Young Male Drivers
If you're a young driver looking to reduce out-of-pocket costs for accidents or repairs, Budget Direct's comprehensive car insurance plans offer premiums that are 48% lower than the average male driver and 33% lower than the average female driver. It also offers a minimum young driver surcharge of S$500 for drivers aged 25 and under. While other insurance companies typically charge a Young/Inexperienced Driver (YIDR) excess of S$2,500 or more, Budget Direct's low Young and Inexperienced Driver excess can help you save up to S$2,000 in the end Out-of-pocket accidents require that major repairs must be completed.
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One disadvantage of Budget Direct car insurance is that benefits that other insurers include in their plans are only available here as add-on purchases, including medical, personal accident and roadside assistance. Because of its already low price, whether you opt for more coverage or settle for a basic car insurance plan, you'll still end up with a comprehensive plan that remains affordable.
With premiums up to 10% lower than average for young or inexperienced male and female drivers, FWD's Classic car insurance plan is an excellent choice for first-time car buyers without a cumulative No Claims Discount (NCD). However, this policy is especially affordable for drivers in their 20s or older. First, drivers in their 20s will see their premiums drop an additional 20% compared to younger drivers (even if they have more experience). Second, FWD charges an additional young driver surcharge fee of S$2,500 for drivers under the age of 27.
Although inexpensive, FWD car insurance offers comprehensive coverage, including medical and personal accident coverage, auto parts coverage, roadside assistance and lost vehicle coverage. Some of these benefits can provide new drivers with peace of mind. In particular, their roadside assistance support will deliver even if you are not involved in an accident and just need a quick battery start. FWD also rewards loyalty and safe driving with certain benefits, such as a lifetime 50% NCD after being claim-free for 5 consecutive years.
The best car insurance plan for young or inexperienced drivers, especially those who are members of MINDEF/MHA, is Singlife with Aviva's Lite car insurance. Singlife with Aviva's Lite plan is the cheapest option for young or inexperienced drivers, with premiums around 30% lower than the average for male and female drivers. This is particularly competitive for MINDEF/MHA customers as there is an additional 15% discount on top of any ongoing promotions.
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Plus, you can buy their policy once you turn 21, and the young driver deductible is waived once you turn 25 - something most companies keep until you turn 27. Function. Coverage is pretty basic, which can make it less than ideal for inexperienced drivers. But if you rarely drive or have extensive driving experience as a teenager, the affordability may outweigh the lack of included benefits. If the Lite plan doesn't have enough coverage, choosing the more expensive Prestige car insurance plan will waive your young driver's deductible and give you more benefits.
For young or inexperienced drivers, especially MINDEF/MHA members, the best car insurance plan is Aviva's Lite car insurance. Aviva's Lite plan is the cheapest option for young or inexperienced drivers, with premiums around 30% lower than the average for male and female drivers. This is particularly competitive for MINDEF/MHA customers as there is an additional 15% discount on top of any ongoing promotions.
In some cases, it may be more cost-effective to have your parents buy your car insurance for you or to continue with your parents' insurance until you reach an age where you can receive significant discounts on premiums. With FWD's Prestige car insurance plan, not only will your parents have one of the best value plans on the market (whether they name you as an authorized driver or not), but you also have the option of leaving the entire young driver's excess cover sail. $2,500, but still pay an average of 70% less than buying a basic comprehensive policy in your own name.
Prestige plans offer more coverage and higher coverage than a basic comprehensive car insurance plan, including S$80 per day for alternative transport, S$2,000 for car accessories and up to 3 months for a replacement car (if your car is stolen or scrapped). also includes the replacement, installation and transport of damaged car parts and provides 24/7 roadside assistance to help you in the event of a breakdown or accident so you and your parents get the most peace of mind from your car.
Cheap Car Insurance For Young Drivers
Since young or inexperienced drivers see the highest premiums, it's always welcome to see discounts that can make your car insurance more affordable. To that end, we've compiled a list of currently available promotions, along with their codes (if needed).
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 young and inexperienced driver, you can benefit greatly from choosing a plan that offers extensive accident-related coverage.
Car insurance is also expensive in its own right, so you don't want to pay for unnecessary coverage. Find out exactly what your insurance requirements are and compare rates to find the cheapest option for your needs.
Yes, drivers are covered by insurance while driving outside Singapore if they are driving in West Malaysia and South Thailand (within 80km of the 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 25-year-old men and women and looked at the differences in premiums between 12 different car insurance companies in Singapore. We then compared the cover on offer to see which plans would be best for inexperienced or younger drivers (for example, inexperienced drivers may want roadside assistance and personal accident cover, while younger drivers may be interested in protecting their more interested in car accessories) Using this data, we can not only distinguish which car insurers are the cheapest, but which plans work best for which drivers.
Anastassia is a senior research analyst in Singapore, evaluating consumer insurance products based on quantitative and qualitative financial analysis. She has a degree in Economics and International Business Management, and her previous work experience includes working in the capital markets sector. Her analysis of insurance, healthcare, international affairs and personal finance has been published in publications including AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, Australian Institute of International Affairs, and more.
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We strive to provide up-to-date information on our website, but consumers should consult the relevant financial institution with any questions, including eligibility to purchase financial products. shall not be construed as engaging or participating in any way in the distribution or sale of any financial product, or as assuming any risk or accepting any liability for any financial product. This site does not review or include all companies or all available products. It's no surprise that young teenage drivers pay more for car insurance. The inexperience and limited driving history of young drivers can be risky for car insurers, which is why they offer higher premiums for new drivers. But how much should new drivers pay? We crunched the numbers to determine the cost
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