Seaweed 1st Gear May 26, 2009 Share May 26, 2009 My insurance premium last year was around SGD700...Quoted this year renewal premium of around SGD980...Luckily my chair was steady enough to hold me...Else I would have to make a claim from my personal accident insurance for falling off my chair!!! A hefty 40% increase...Wasn't it protrayed as a 10% -20% increase on the newspaper??? How come mine was 40% when I have not scored a single demerit point and make a single claim over the past 15 years of driving??? The "market value" of my car is dropping every year yet my premium is increasing every year...When I am driving at those days when a 1.6 saloon cost more than 100k...My insurance premium was only around SGD600...What is going on here??? Did the overhead really increase that much??? Is there really alot of people making a claim using fake injuries??? Is it a situation like the chinese saying "yang mou chu zhai yang shen shang"(the goat fur will be from the goat)...The insurance people just happily passed on the cost to consumers??? So will it in evolve to a stage when a person decided not to own any car anymore in his lifetime...He will just lightly crashed his car against a pillar and claim injury??? ↡ Advertisement Link to post Share on other sites More sharing options...
Darklord_88 Neutral Newbie May 26, 2009 Share May 26, 2009 what is your current insurance coy? Link to post Share on other sites More sharing options...
Jamesc Hypersonic May 26, 2009 Share May 26, 2009 My 1st year was $935, 2nd year renew was $1,200, 3rd year they wanted $1400. I changed company and paid $835! Lucky they charged me more, if not I would have renewed at $1,200! Link to post Share on other sites More sharing options...
Bugts Neutral Newbie May 26, 2009 Share May 26, 2009 driving 1.6 opc below30 AIG insurance 1st yr - $1500 consider cheap 0%NCD 2nd yr- $1400 consider cheap 10%NCD this yr- $2400 F****** crazy 20%NCD Dunno wat AIA/AIG doing.. they spend too much or lost too much $$ pass to us.. anyway RSA quote me cheapest $1636. below 1K cannot complain already lah.. like that i really want to commit suicide! Link to post Share on other sites More sharing options...
Jamstart 1st Gear May 26, 2009 Share May 26, 2009 Dude, you are not the first, nor the last to complaint about this thing. Haiz Something has to be done on this insurance claim. We, as the innocent citizens, cannot be penalized for what we didnt do. Link to post Share on other sites More sharing options...
Snowblind Neutral Newbie May 26, 2009 Share May 26, 2009 Was working at a law firm for awhile recently. Noticed that small claims come up to at least 1k and bigger claims can go up to 10k for seemingly small problems. Root problem...ppl not honest, change story. Insurance company no choice but need to fight. Inflated repair claims, injury claims, car rental claims, dishonest workshops and law firms in cohort. Link to post Share on other sites More sharing options...
Xrdude Neutral Newbie May 26, 2009 Share May 26, 2009 driving 1.6 opc below30 AIG insurance 1st yr - $1500 consider cheap 0%NCD 2nd yr- $1400 consider cheap 10%NCD this yr- $2400 F****** crazy 20%NCD Dunno wat AIA/AIG doing.. they spend too much or lost too much $$ pass to us.. anyway RSA quote me cheapest $1636. below 1K cannot complain already lah.. like that i really want to commit suicide! AIA/AIG overcharging la.....boycott them totally.....they qoute me $1400 with 50%ncd got from another insurance at $885..... Link to post Share on other sites More sharing options...
Seaweed 1st Gear May 26, 2009 Author Share May 26, 2009 not convenient to say...as u know sillypore also got practise of suing people even when you are telling the truth...and in most occasion...the richer of the always win !!! ha ha... Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 26, 2009 Share May 26, 2009 we all kena owned by insurance companies. If I'm a high level guy in an insurance company, i will do the surveys and take the businesses of all those low risk drivers away from my competitors by quoting a fairer premium. I too have max NCD and never claim for 15 yrs of driving but premium still go up yr after yr. Damn it! Link to post Share on other sites More sharing options...
inlinesix Hypersonic May 26, 2009 Share May 26, 2009 we all kena owned by insurance companies. If I'm a high level guy in an insurance company, i will do the surveys and take the businesses of all those low risk drivers away from my competitors by quoting a fairer premium. I too have max NCD and never claim for 15 yrs of driving but premium still go up yr after yr. Damn it! It is very hard to quote a fairer price as most insurance cos' portfolio included a certain percentage of "rotten apple". Link to post Share on other sites More sharing options...
Tigershark1976 Turbocharged May 26, 2009 Share May 26, 2009 same here, my policy was ard 800 last year, with additional discount of 15% (add 10% NCB and 5% cert of merit), my premium this year bcum 1000+.... tried to find quotes from diff insurance company and cheapest is $997... if i factor in the additional discount, that means, my premium total increase by 43%!!! knnb.. Link to post Share on other sites More sharing options...
Flight_skoda Neutral Newbie May 26, 2009 Share May 26, 2009 we all kena owned by insurance companies. If I'm a high level guy in an insurance company, i will do the surveys and take the businesses of all those low risk drivers away from my competitors by quoting a fairer premium. I too have max NCD and never claim for 15 yrs of driving but premium still go up yr after yr. Damn it! Same same here... Max NCD + add 5% with 13 years of driving... premiums still go higher and higher every year. Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear May 26, 2009 Share May 26, 2009 same here, my policy was ard 800 last year, with additional discount of 15% (add 10% NCB and 5% cert of merit), my premium this year bcum 1000+.... tried to find quotes from diff insurance company and cheapest is $997... if i factor in the additional discount, that means, my premium total increase by 43%!!! knnb.. Oh no.... I'm in the same situation as you (last year $800++), I guess I would see the increase when I renew in July.. Link to post Share on other sites More sharing options...
Seaweed 1st Gear May 26, 2009 Author Share May 26, 2009 Few questions ??? 1) Is repair cost going higher and higher?? If yes, is it labour cost(I thought we got pay cut???), rental cost(I thought bad times rent should have some adjustment???, if not, can JTC do something??), Spare cost(The automaker cannot sell at current price liao, they still increase price of their product to kill themself???) 2) Is there more fake claims?? If it is?? Isn't it the problem of CPIB and insurance company to do soemthing?? 3) Is it because the value of our car is imcreasing so in order to insure something which value is higher, the premium need to be higher too ??? etc etc etc... SO WHAT CAN WE DO AS A HELPLESS DRIVER??? Its the same as our petrol price...One up all up...One down all down...Reasons all the same... Link to post Share on other sites More sharing options...
Cam70 Neutral Newbie May 26, 2009 Share May 26, 2009 AIA/AIG overcharging la.....boycott them totally.....they qoute me $1400 with 50%ncd got from another insurance at $885..... bro , dont mind sharing this assurance co? Link to post Share on other sites More sharing options...
Altisgt Neutral Newbie May 26, 2009 Share May 26, 2009 "SCREW AIG" was the thought in my mind when I saw my renewal... 3k after 10 NCD..and my ride not even performance car...just a normal 1.5l saloon.... last yr was only 1.7k ...NO NCD. lose money in USA..try to make it up in Asia.. Link to post Share on other sites More sharing options...
Darkblue 1st Gear May 26, 2009 Share May 26, 2009 i think bei tahan, save $$ on bodykits... Since you are paying so high for insurance premiums + now m'sia cars bang you (you need to claim from yourself)... You do hard braking on expressway, let other ppl bang you. Go change for a new set of bumpers... woot ! Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear May 26, 2009 Share May 26, 2009 "SCREW AIG" was the thought in my mind when I saw my renewal... 3k after 10 NCD..and my ride not even performance car...just a normal 1.5l saloon.... last yr was only 1.7k ...NO NCD. lose money in USA..try to make it up in Asia.. Just avoid the big names, A.., Lucy. ↡ Advertisement Link to post Share on other sites More sharing options...
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