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A hefty 40% increase !!!

Seaweed

By Seaweed,
in Complaints

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Shorty

Shorty

Turbocharged

my colleague's wrx insurance is $6k+!!! 28 yr old wif 10% ncd.can't imagine if i kena pay that kind of money.can vomit blood man.

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Altisgt

Altisgt

Neutral Newbie

imagine the number of people that taking a share of inflated insurance claims amount....

 

1)Appointed workshop lawyers

 

2)Workshop bosses

 

3)Car Rental companies

 

4)Surveyors

 

5)Spare parts supplier

 

6)Towing companies

 

7)SG Govt company taxation

 

 

Much of it is "admin" charges...rather than actual labour/parts cost

 

 

 

 

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Tigershark1976

Tigershark1976

Turbocharged

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.. [sweatdrop]

 

 

July?? my policy ended on 4th Jul.... im a bit kiasu and try to hunt for cheaper policy 1st.... and the chepest i came across is mitsui...

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Parkingidiot

Parkingidiot

1st Gear
(edited)

hmm.. how come so many complaints about increasing insurance premiums... strangely my policy no huge increase. Last year 700, this year also 700, though NCB should have increased. Therefore net effect is there is an increase, but offset by NCB.

Edited by Parkingidiot
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Gearoil

Gearoil

1st Gear

I hate ppl who comprain...so what is the TS compraining about?...more money out of his pocket?

 

Look here...you might NOT be an idiot driver but there are a lot of them on the roads...so YOU are made to pay for their idiotic and stupid mistakes..

 

O.K?

 

Settled? ...UNDER-THE-STAND? :D

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Leclair

Leclair

3rd Gear

I hate ppl who comprain...so what is the TS compraining about?...more money out of his pocket?

 

Look here...you might NOT be an idiot driver but there are a lot of them on the roads...so YOU are made to pay for their idiotic and stupid mistakes..

 

O.K?

 

Settled? ...UNDER-THE-STAND? :D

 

I think TS has a right to complain about this situation to highlight to others that there are alternatives....

 

My own case was even better: Last year i changed insurer to lonpac because they quote the lowest $700+ , 30 %ncd, more than 10 yrs experience.

 

This year when i received the renewal letter i had to read again - $1900++ AFTER 40% NCD !!! My car is a sunny -they think i am driving a race car?!!

 

When i called them up , their answer was that they want to cut down their motor insurance business !

 

I went around asking for quotation from more than 10 companies and got the lowest quotation from MSIG at $700++ and still had $80 petrol voucher.

 

 

 

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Throttle2

Throttle2

Supersonic

my colleague's wrx insurance is $6k+!!! 28 yr old wif 10% ncd.can't imagine if i kena pay that kind of money.can vomit blood man.

 

 

[laugh][laugh][laugh]

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Jl1500k

Jl1500k

Clutched

my colleague's wrx insurance is $6k+!!! 28 yr old wif 10% ncd.can't imagine if i kena pay that kind of money.can vomit blood man.

 

At that time b4 your colleague signed on the paper i believed he had already know how much insurance he going to pay for wrx. Since he had bought it mean he can afford the 6K insurance yearly. Those pp can afford to buy wrx or evo i think insurance is nothing to them. [:p]

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Hishercar

Hishercar

Clutched

the situation is like this everywhere

 

found this in the net see if this guy can help you

 

i dont know him but his heading is he can give you the lowest car insurance quotation

 

if he cannot you can bash him

 

 

 

Lowest Car Insurance Quotation

Contact Info Chris Tey/91790563

 

Hey All Car Owners, Are u satisfy with your Car Insurance Renewal Premium?

 

We are in the business of Car Insurance and we are offering one of the lowest car quote in the market.

 

Able to provide up to 7-8 reputable Car Insurance Company quotations in the Industry.

 

So do not hesitate to email us your enquiry and contact number to us at [email protected]

 

We will get back to you within 24hrs or give us a call at hp- 91790563 (Chris Tey).

 

 

Contact Person : Chris Tey

Contact Number (Primary) : 91790563

More info

 

 

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Lv3338

Lv3338

Clutched
(edited)

I think we get conned by the insurance association.

they always say how much they loss from automotive insurance claims...

but they did declare how much they make for the overall insurance market /industry... (personal insurance, endowment , business insurance?)

 

it's a portfolio management.... so how can they insist or want profit from each every type of pdt/ industry...

just like our garment....or sbs..who tell u how much they loss here....but never tell us how much they gain from else where....if the garment and so called "privatised: company are behaving like that....

so dun think our watchdog...or garment will intervene..these automotive insurance companies...

 

old people..says buying insurance is a gamble......got issue then claim.... no issue.. the insurance pocket your money....

but insurance companies managed based on calculated risk management....but from the way they increase the premium...is seems they wanna premium revenue > premium claim... ... so it's a sure win business....

so whois auditing them on so called calculated risk management... seems... they are narrow their risk to minimal or zero here...

Edited by Lv3338
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Seaweed

Seaweed

1st Gear
  • Author

I hate ppl who comprain...so what is the TS compraining about?...more money out of his pocket?

 

Look here...you might NOT be an idiot driver but there are a lot of them on the roads...so YOU are made to pay for their idiotic and stupid mistakes..

 

O.K?

 

Settled? ...UNDER-THE-STAND? :D

 

I treat your comments as a dark humour if you have no objection...Yes it is a complaint under the complaint section of mycarforum...cheers ^_^

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Seaweed

Seaweed

1st Gear
  • Author

does it equate to the big become bigger...rich become richer...isn't something like a regulatory can do something?? should we start to promote some business ethic...sad to see "singa"...I hope I get the name right...The courtesy lion which I saw when i was very very young...why did it appeared??

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Tigershark1976

Tigershark1976

Turbocharged

At that time b4 your colleague signed on the paper i believed he had already know how much insurance he going to pay for wrx. Since he had bought it mean he can afford the 6K insurance yearly. Those pp can afford to buy wrx or evo i think insurance is nothing to them. [:p]

 

 

dun be surprise, some joker really dunno anything and blindly go n buy such car and in the end, kpkb.. my friend is a good example, he tot he is 40 plus liao, with his driving experience plus his clean record, the insurance cannot be more than 2K, sign on the doted line and get a 2nd hand wrx... in the end, when he is paying for his downpayment + insurance + rd tax, he almost fainted... cost him ard 4K for a 40% NCB.... [shocked][shocked]

 

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Ender

Ender

Hypersonic

I think is each year, the worst deal is always from the company that you are renewing from. SO everytime for renewal, alway start to get quotes and be ready to change insurer. Loyalty does not pay.

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Blueegg

Blueegg

Clutched

I think is each year, the worst deal is always from the company that you are renewing from. SO everytime for renewal, alway start to get quotes and be ready to change insurer. Loyalty does not pay.

 

You hit the nail on the head. Renewal offer is almost always unfavourable.

 

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