Renewing car insurance

[Ecaf]

hi guys, i'm due to renew my car insurance. got this lobang from sgcarmart.com, they state can pay in 0% interest free installments. i requested a quotation from them and this is what they offered:

 

AXA - SmartDrive Premium Workshop

 

Premium : $662

 

Excess: $ 500

 

*based on 50% NCD, 0% safe driving discount, 20% premium workshop discount & 5% GST.

 

AXA premium workshops scheme:

1. 20% off premium discount

2. Reduction of Basis Own Damage excess for insured & Named drivers as follows:

50% NCD : NIL Excess

0 - 40% NCD : Excess halved

3. Loss of Personal Effects following Accidents and Robbery in Singapore ($3,000 limit)

4. At the event of accident, no IDAC assessments, as AXA is an independent Insurance Company

5. Event of accident, it's MUST to go back to AXA authorize workshop

 

i'm not too sure about (2) and (4) . does (2) mean if there is any claims, i do not need to pay the $500 excess anymore? and for (4), what does it mean by no IDAC assessments?

 

overall, is this a reasonable quote? i'm comparing w my current premium with liberty which offered me $679 premium with $500 excess.

 

thanks!

[Porker]

I tell you... these are the terms that fark people up! This goes as well to those lawyers-drafted letters...

[Guyver]

Hi ... for Liberty ... you can go back to your agent if you kana accident and do own claim but for AXA Premium workshop plan .... you CANNOT go back to agent.

[Ecaf]

meaning if anything happens, i can only send to their preferred workshop and not back to Mazda?

 

are there any other insurance plans with 0% interest free installment plans?

[Andrefoo]

are you driving a COE car? if you are, then not going back to the AD is probably not an issue, but if you car is under warranty, I suggest that you get a plan that allows you to go back.

 

 

 

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[Ecaf]

i see, thanks! my warranty would be over when i renew my insurance (3 years already).

[Weixiang_06]

Hello, want to try mine... I just got my quote today.. A very nice, friendly and efficient person...

 

AXA - SmartDrive Any Workshop (Including authorised dealer, BM Toyota)

 

Premium : $761.13

 

Excess: $ 300

 

*based on 30% NCD, 5% safe driving discount & 5% GST.

 

AXA premium workshops scheme:

1. No additional excess for named driver under 26 yrs of age. (As i am the one driving the car, but insurance is bought under my dad)

2. $0 excess fo unlimited windscreen replacement!

3. Loss of Personal Effects following Accidents and Robbery in Singapore ($3,000 limit)

4. At the event of accident, no IDAC assessments, as AXA is an independent Insurance Company

5. Event of accident, can go to any workshop for repair.. including BM.

6. Free towing for accident related incident...

 

Good deal or not?

My ride is coming to 1 yr old. A Toyota Vios 1.5l manual.. My driving experience is >3+yrs with CoM from TP...

[Weixiang_06]

ecaf, what is ur ride? Mazda 6?

[Ecaf]

looks good. similiar to mine, except mine has to go to their authorised wrkshp. not much of a problem for me as it would be over warranty already, but my concern would be on their workshop quality and turnard time

 

i'm driving a Mazda 323

[Weixiang_06]

icic.. yupyup AXA is good deal... i called auntie lucy.. you guessed how much they quote me? $1.3k

 

 

i was tell them go fly kite.... even more expensive than my 1st year insurance from AOG

[BoneStock]

yup, just renewed mine with AXA. ~$570 for max NCD and additional 5% discount. On top of this, I was given $55 petrol vouchers from Caltex. Excess is 0 for myself and wifey. very good deal i would say.

[Ecaf]

huge difference! but i read thru the forums most peeps say auntie lucy premiums are low but claims against other auntie lucy policies are troublesome.

[Ecaf]

thanks ur wifey is a named driver under ur policy? how much do they charge for named drivers?

[Acrs]

hi guys, i'm due to renew my car insurance. got this lobang from sgcarmart.com, they state can pay in 0% interest free installments. i requested a quotation from them and this is what they offered:

 

AXA - SmartDrive Premium Workshop

 

Premium : $662

 

Excess: $ 500

 

*based on 50% NCD, 0% safe driving discount, 20% premium workshop discount & 5% GST.

 

AXA premium workshops scheme:

1. 20% off premium discount

2. Reduction of Basis Own Damage excess for insured & Named drivers as follows:

50% NCD : NIL Excess

0 - 40% NCD : Excess halved

3. Loss of Personal Effects following Accidents and Robbery in Singapore ($3,000 limit)

4. At the event of accident, no IDAC assessments, as AXA is an independent Insurance Company

5. Event of accident, it's MUST to go back to AXA authorize workshop

 

i'm not too sure about (2) and (4) . does (2) mean if there is any claims, i do not need to pay the $500 excess anymore? and for (4), what does it mean by no IDAC assessments?

 

overall, is this a reasonable quote? i'm comparing w my current premium with liberty which offered me $679 premium with $500 excess.

 

thanks!

 

Bro, for (2) it means that base on 50% NCD, if you or your named drivers make a OD claim, and your car is repaired in their appointed workshop, you won't have to pay for the $500 access. For point (4) it means that in the event of an accident, you don't need to send your vehicle to IDAC for inspection/reporting , cos AXA does not subscribe to IDAC scheme.

 

.

[Acrs]

Hi ... for Liberty ... you can go back to your agent if you kana accident and do own claim but for AXA Premium workshop plan .... you CANNOT go back to agent.

 

Bro, i fully agree with you .

 

In the case for our dear friend Ecaf, the difference for both insurance plan is

just $17 ($662-$679). Which means that as a consumer, you are actually giving away your rights to chose the workshop that you might prefered to get your car repaired.

 

Is it worth giving away your consumer rights , just for only $17????

 

$17 = NO FREEDOM OF CHOICE

[Acrs]

meaning if anything happens, i can only send to their preferred workshop and not back to Mazda?

 

are there any other insurance plans with 0% interest free installment plans?

 

YES and No. Like to inform many drivers out there, even if you are insured in such "Preferred workshop scheme", it doesn't means that you definitely have to go back to the insurance appointed workshop.

 

Don't forget. When there is an accident. You as the driver can either make a OD claim or a Third Party claim. Alot of car owners fail to realise that, they have a choice to chose any workshop to get their vehicle fixed if they are making a 3rd party claims.

 

No matter what policy or insurance you are insured with, there are no rules that make it compulsory for drivers to surely "MUST" go back to Appointed workshop for a 3rd party claims.

 

From my experience, alot of drivers, for convinent sake, always make a OD claims first when they meet a (50/50 case) car accident. They fail to understand, if you do that, you are surrendering your chance of saying you are NOT LIABLE for the cause of the accident. If you seek proper advice, (especially for those "Not-clear-cut" cases)perhaps by making a 3rd party claims, there are still room for you to fight and win the case.

 

Ofcourse there are exception cases where the driver are 100% liable for the accident, then ...... LL lor

 

.

[Ecaf]

thanks for the explanation bro

 

yea the difference between these two policies is just $17 but i'm comparing the terms between these two, not the premiums hehe my mistake

 

u mentioned it is not a must to go back to their appointed workshop? but if i go to my choice of workshop, i forego the $0 excess offer is tt right?

 

so given that, between the two policies not much difference...errmmm correct me if i'm wrong pls. early morning, my brain still frolicking in bed

[Ecaf]

ok i read thru another time and understand now so if i'm making a third party claim, i can choose my own workshop but for OD claims must go to appt workshop.

 

thanks again bro