Insurance Premium For Normal vs OPC - No Diff?

[Slonez]

Is it true the premium for normal car & OPC not much difference?

I thought there would be significant difference since the road exposure for OPC is much less.

[Hungee]

from my experience after owning an OPC for 3 yrs, there is NO difference in terms of insurance premium

 

the reason by insurance coy is that one can still drive an OPC during normal hours, just have to spend $20. So no difference to the insurer

[Speddevil]

Yes its true. There will be a specified pecentage discount entitled for various insurance coy.. Less 10% - 15%

[Speddevil]

That's not true. Which insurance coy you insured with? There will definitely be some difference as compared to normal car. the circumstances you quoted is not that relevant to their computation of premium in my own view.. the premium is mainly based on the vehicle make, model,cc,age,driving exp,marital status,etc

[Hungee]

that's what I gotten ... my 2 yr old OPC Sunny premium is abt $200 cheaper than my 3 yr old Wish ...

[Speddevil]

Bro this boil down to the make & engine cc. Also, your Toyota Wish is a Parallel Imported version. It will still be a little bit cheaper than the normal car since the parf, omv value is lower

[Kangadrool]

Try requesting for quotes from the same insurer for the same car under Normal and OPC.

 

Most insurers will be slightly cheaper; few will quote slightly more expensive. Their reasoning is, OPC drivers less experience!

[Pocus]

boss you mean your sunny's premium got no discount?

 

my swift I convert from OPC to normal I need to notify the my insurer and pay the top up pro-rated price leh...

 

AIG give 15% discount for OPC.

[Hungee]

huh ? let me ask again, cos end Nov due for renewal again ...

[Blackyv]

Is it true the premium for normal car & OPC not much difference?

I thought there would be significant difference since the road exposure for OPC is much less.

 

depends on how they want to justify it.. they can argue

"due to opc cars usage are restricted, very high chance opc drivers' driving skill is not as good as normal plate due to limited experience and exposure to heavy traffics, thus the higher the chance of "accident"...."

 

they can twist and turn whatever way they want to their advantage...

[Gbsm]

Is it true the premium for normal car & OPC not much difference?

I thought there would be significant difference since the road exposure for OPC is much less.

 

Mine OPC. recently renewed from HSBC.. Specifically asked about this..a big NO is the answer.. No idea abt other insurance companies.

[Slonez]

Thanks for all your response.

I think there will be little difference between the 2 from the posts above. In the end, it's the insurance company who has the say.

[Gwensilvz]

I've been with AIG and NTUC and both companies offer some discount for OPC

 

For AIG is around 10-15%, can't remember but for NTUC the quotes I got was $8K for OPC and $10k for normal plate.

[Ichiyen]

really?

 

from my understanding there is no diff OPC or not.

 

i drive an OPC btw, first year so not sure...

[Fcw75]

Should be no difference. A OPC bumper and a normal car bumper of the same model costs the same when involved in an accident right?

[Gwensilvz]

yeap I have an opc too

 

previously with AIG and the quotation given was with opc discount

 

ntuc calculates their equation on points system and there are points deducted for opc

 

im under ntuc now btw

[Ichiyen]

i did a check for my insurance with some companies,

 

and i realised that they offer cheaper prices compared to AIG and NTUC even after their so called OPC discount...

 

still...

 

up the the different individual