How using a car insurance calculator can help you save money

Online car quote tools, or car insurance calculators are of utmost value to those who are looking for car insurance in Hong Kong. Not only will such tools allow you to obtain a free car insurance quote, but if you know how to maximize the potential of car insurance calculators, using them can help you save money, too!

In today’s article, Kwiksure will explain step by step how using a car insurance calculator properly can spare you extra costs on your car insurance premiums.

What is a car insurance calculator and where can I find it?

Car insurance calculators are an online quotation tool. A quote is an estimated car insurance premium amount based on the information you provide. To get the most accurate quote, car owners must input information such as:

• Insurance details: Type of insurance and NCD amount.
• Car details: Car make, model, and year of production.
• Main diver details: Age, driving history, occupation, etc.

To better prepare you for your online quotation process, read our previous article that summarizes precisely what kind of information you’ll need to provide to obtain a motor insurance quote in Hong Kong.

Most reputable insurance companies, agents, and insurance brokers alike, usually have some sort of online car insurance calculator available on their website. But when you are comparing quotes from only one insurer, your options are limited. That’s why using online quotation tools from a broker, such as the Kwiksure's car insurance calculator, can not only save you time but quite often also money on your car insurance premiums.

How can I reduce the cost of my car insurance?

Online quotation tools can give you a clear idea about the potential premiums, but more can be done to reduce your car insurance premiums. Here, we look at the main ways you can reduce your car insurance cost.

Compare quotes

The best thing about online car insurance calculators is that you get to see different plans and their corresponding quotes. See for yourself how different plan options influence the price of the plan, but don’t always choose a plan based on price only.

Tip: cheap plans may be insufficient

Typically speaking, cheap car insurance can come with certain financial risks, such as coverage for a third parties only, which is insufficient in case you are in an accident and your car suffers from expensive damage. Instead of cheap motor coverage, you want to look for great value car insurance options in Hong Kong that you can afford, and that will protect you and your car in the event of an unforeseen accident.

Your car and performance

Your car’s make and your own driving abilities are the main factors when it comes to car insurance premium calculations. A No Claims Discount (NCD) will play a huge role in establishing your insurance price, as well as your car’s value itself. Also, your occupation can sometimes impact your premiums. More specifically, actors, models, and people working in the F&B and entertainment industries are more likely to pay higher premiums. Your driving experience and age will affect the price, too.  

Don’t buy right away

Your best option for obtaining a great value plan is to talk to an experienced Hong Kong car insurance expert, such as the team at Kwiksure. There are many different aspects to consider before securing a motor insurance policy, and an insurance broker will help you make the most informed decision.   

The reputation of the insurer, their track record of settling claims, their efficiency, and even the level of customer service must be taken into account before the final decision. What’s more, understanding the terms and conditions, exclusions, and any other terms of the car policy are crucial before signing the contract, and helps to ensure there aren't any unpleasant surprises should you need to make a claim.

Get an online quote and car insurance advice now

At Kwiksure, we know how to advise our clients so they are protected in the most cost-effective way. Impartial advice from Kwiksure is free, and it’s definitely a smart move to make use of it when looking for car insurance in Hong Kong.

Go ahead and get your free car insurance quote, and compare plans with our insurance advisors for the best value coverage on the market!