In these tough times, when people are losing jobs and facing salary cuts, we can only cancel so many subscriptions (goodbye, Netflix, Spotify, Viu). However, there’s one thing we can’t say goodbye to… insurance! It’s a real-world necessity because, with just a little effort, you can save a ton of money!

There are many types of insurance, including life insurance, medical insurance, health insurance, and even pet insurance.

But today, let’s talk about car insurance and how you can protect yourself while driving. Here are 5 easy ways to lower your car insurance costs while still enjoying your favorite movies.

Note: We’ll use admin’s Nissan Almera (1.5) as an example.

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1. Compare, Compare, Compare!

Just like grandmothers at grocery stores, you need to find out which company or platform offers the best value for money. All you need to do is search for websites that provide side-by-side comparisons of insurance providers’ prices and benefits. If you’re lazy, don’t worry—the URL is in the next paragraph.

For example, comprehensive coverage for admin’s Nissan Almera costs between RM1,000 and RM1,200 per year. But after some research, admin found an estimate of just RM900!

Like most things in life, good deals don’t come easy—you have to put in a little effort. A great place to start is Compare Car Insurance Quotes in Malaysia & Renew Road Tax Online.

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2. Beware of Unnecessary Add-Ons!

Some car insurance plans include optional coverages and charge you for them without you even realizing it.

For example, if you don’t live in a flood-prone area, you don’t need flood coverage, which could help lower your premium. So, make sure to read your policy carefully and only choose the coverage you actually need!

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3. NCD – The King of Discounts!

The No-Claim Discount (NCD) is the ultimate key to saving on your insurance premium.

What exactly is NCD? As explained in our article about transferring NCD, it’s a discount you receive each year when you renew your car/motorcycle insurance, as long as you don’t make any claims. After five years of no claims, your NCD can reach a maximum of 55%!

Here’s the breakdown of NCD rates:

• Year 1: 0%
• Year 2: 25%
• Year 3: 30%
• Year 4: 38.33%
• Year 5: 45%
• After Year 5: 55%

That means by the fifth year, a RM1,000 premium saves you RM550! That’s a better return than having 200,000 ASB savings units.

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4. Pay Less If You Drive Less!

Your insurance premium is usually determined by your car’s specifications, your driving history, your home address, and even your age (since reflexes slow down over time). But one factor that’s rarely considered is your mileage—unless you’re using PrOmilej.

So, if you don’t drive often, PrOmilej’s pricing is worth looking into! Plus, if you don’t drive much, selling your car will be easier too!

With an average car insurance premium of RM1,000 to RM1,200 for admin’s car, admin could save up to 40% by driving less than 5,000 km per year. This lowers the premium to just RM600!

Of course, this is before applying NCD savings, which, like a Jenga tower on a boring MCO day, keeps stacking up!

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5. Cheaper Prices?! Discounts?!

Malaysians love a good deal! Discounts on clothes, houses, credit cards—not to mention Shopee’s insane 11.11 sales in 2020. Guess what? Car insurance can have discounts too!

Some insurance companies offer cashback and discounts. And the best part? iLyF lets you earn cash vouchers just by helping your friends switch their insurance!

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6. Drive Safely and Save More!

Wait… what?!!

Yes, you read that right—driving safely can actually save you money!

How? A telematics-based app can give you up to 30% additional rebates on top of your NCD based on how you brake, accelerate, turn, and maintain speed on the road.

The best part? You don’t even need to open the app! It detects movement automatically in the background.

So, drive safely, save more! 🚗💨

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Summary: How to Save on Car Insurance

✅ Compare prices from different providers.
✅ Remove add-ons you don’t need.
✅ Maximize your NCD up to 55%.
✅ Use mileage-based insurance if you don’t drive often.
✅ Look for discounts and cashback offers.
✅ Drive safely to get additional rebates!

We hope this helps—happy saving! 🎉