A hefty 40% increase !!!

[Seaweed]

probably some business in some countries are earning money by using their "brain" for new concepts...however some business in some countries just do not give you value add...and just try to make a big buck!!! reasons given "we need to answer to our share holder" !!! I think as a responsible business...Profit no doubt is important...But it should not be at anytime at the expense of common people...I quote a senario...

 

I own a Business ABC whom have established itself on this tiny island...My business is making profit and I have a big market share as time goes...it is sort of "monopoly" if you see it the bad way...It is difficult for other competitors to beat me as I am big and estalished...One day I decided profit is not enough...The simply solution is to charge my customer more...Reason I give is "Profit falling...I need to answer to my shareholders" !!!

[Gadgeter]

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...

 

Thanks for the tips. I'll be getting my agent aka MCFer to start hunting..

[Gadgeter]

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....

 

4K for a 40% NCB????

[Xeonic]

I think my insurance increase is the best...

 

Just driving a normal 1.5l hatchback...

 

1st year : AIG 2.6k (0% NCD + within my first year of getting my license, 0.6k was due to my premium for my first year)

 

Just before my insurance was due, AIG send me a document asking me to renew my insurance with them... the insurance with 10% NCD is 4K... I was stunned.. I didn't know that I am driving a Ferrari... That is a 100% increase....

 

In the end I source around and found my current insurance at 1.7k thou not the cheapest (the cheapest was at 1.2k) but decent coverage...

Edited May 27, 2009 by Xeonic

[Whatthe]

My insurance was due in March. I'm driving a 1.6l hatchback.

 

1st year $2.3k with AIG (0% NCD)

 

And AIG send me a renewal notice for $2.6k. I thought it was ridiculous, with discount still more expensive than what I had paid previously.

 

So I sourced around and NTUC was one of those I called. When the guy was checking my quote, he let off this sound of disbelief. Then he sheepishly told me, "Its $3k with 10% NCD"

 

I did finally find a cheaper quote from Mitsui, $1.8k.

[Wbucket]

Hmm... I also have a friend who complained about increasing insurance. I renewed mine Jan this year, maybe the rise isn't in yet. Lucky. But really need to look around for cheaper ones.

 

As for the increase, just look at Singapore roads. It is a joyous day for the DJs when they report no accidents on the road each morning, goes to show how rare it is to be accident-free or how often Singaporean kiss each other.

[Scion]

as singaporeans, we're screwed

 

so after complaining, these are what we can do (i have already done so in the past 2-3 years!):

 

1. find a cheap China/Indian insurance company (can be real cheap!)

 

2. drive safely to avoid banging pple

 

3. pray God will not act reckless on ur car (fallen trees, flood, etc)

 

good luck!

[Chrispie]

This sept renewing liao.. last year is 2.6k with India (0% NCD).. this year if go up 40% like wat some bro said.. faint liao...

Edited May 28, 2009 by Chrispie

[S4vtec]

Mine is also due in September...

 

 

In chronological order when i got the car brand new ironically

 

Yr 1 - 700+

Yr2- 1200+

Yr 3- ????+

 

 

all with no cliams and additional ncd + safe driver.....

[Gearoil]

as singaporeans, we're screwed

 

so after complaining, these are what we can do (i have already done so in the past 2-3 years!):

 

1. find a cheap China/Indian insurance company (can be real cheap!)

 

2. drive safely to avoid banging pple

 

3. pray God will not act reckless on ur car (fallen trees, flood, etc)

 

good luck!

 

 

Sinkies are screwed and..... have been screwed and...... still being screwed...since the day some ppl are losing BILLIONS of their money and NOT needing to tell them about it!

[Chrispie]

Actually, i think i want to share something here. My car was banged last year from the rear, and that was my first ever accident. There is a slight dent on my bumper and the lady behind was in shock. Took pictures, and shared particulars, we parted.

 

The night, i called her up, asking how she would like to settle the damage. I suggested her coming with me to my mechanics, and her being present, can ensure i wont do anything funny and its gg to be fair. She then wont have to affect her NCD. Her husband took over the phone, and say they want to go thru insurance. Im like...'huh.. ok if you insist.' It is just wierd coz i am sure the repair is at most a couple of hundreds.. but they wanna claim.

 

I didnt know what to do, called my agent, and she said the workshop ppl will come down and assess.. in a while, the guy came, just asked me to sign some papers, and off he went, saying everything will be taken care off. He then drove my car off, and got me a Mazda 3 as courtesy car for a week. After a week (for a dented bumper?!), he called, said car ok liao..

 

So on the collection day, i was shocked to see my car. It was like NEW. They actually spray painted the whole car!!!

 

What's done was done, i just take over and that time, i dun know what the procedures really should be, so let the workshop do everything. And didnt know.. they really do everything.

Edited May 28, 2009 by Chrispie

[Gearoil]

Actually, i think i want to share something here. My car was banged last year from the rear, and that was my first ever accident. There is a slight dent on my bumper and the lady behind was in shock. Took pictures, and shared particulars, we parted.

 

The night, i called her up, asking how she would like to settle the damage. I suggested her coming with me to my mechanics, and her being present, can ensure i wont do anything funny and its gg to be fair. She then wont have to affect her NCD. Her husband took over the phone, and say they want to go thru insurance. Im like...'huh.. ok if you insist.' It is just wierd coz i am sure the repair is at most a couple of hundreds.. but they wanna claim.

 

I didnt know what to do, called my agent, and she said the workshop ppl will come down and assess.. in a while, the guy came, just asked me to sign some papers, and off he went, saying everything will be taken care off. He then drove my car off, and got me a Mazda 3 as courtesy car for a week. After a week (for a dented bumper?!), he called, said car ok liao..

 

So on the collection day, i was shocked to see my car. It was like NEW. They actually spray painted the

 

what is your issue here...to try to tell me about your long story?

 

What for want to private settle?...for fark you want to call her personally...she chio is it?

 

She BANGS ....she pay or rather her insurance pay..that it!

 

Claim her for all other expenses including ...possible whiplash!...

 

Make sure such driver get to pay kao..kao insurance premium, to deter her ever from driving on the roads!

 

[Chrispie]

what is your problem huh.. i tot the damage is quite small, so offered asking if she wanna settle privately...

 

And my point is what workshops can do when u handed over your car to them. Why do u think we are paying higher and higher premiums?

 

Now i think back, i remembered her following me quite closely... when the car infront of me suddenly jams brakes, i was actually anticipating the bang.

Edited May 28, 2009 by Chrispie

[Gearoil]

what is your problem huh.. i tot the damage is quite small, so offered asking if she wanna settle privately...

 

And my point is what workshops can do when u handed over your car to them. Why do u think we are paying higher and higher premiums?

 

You still don't 'get it'...you are tertiary educated?

 

You don't change anything by' NOT going by the book' or do other motorists any favours!

 

The whole claimage thing is that idiots on the roads allow the number of claims and of course the unethtical practice of ballooning the claims to occur!

 

Your only real recourse if to reduce the number of idiots who drive on the roads to have any effective means to lower your premiums!

 

 

 

 

 

================================================================

If you think you're being kind...you could be contributing to the worsening of the actual problem by only looking at your own set of problems!

[Chrispie]

No leh.. i only had pri 4 education. Sorry to waste your time reading my childish post.

 

I was just doing what i think is right then... yes, one case wont change anything, but taht doesnt mean u have to join the bandwagon. If its a small case, i dun think there is a need to claim. Not withstanding the things these workshops can do to make a pile out of other's misfortunes.

Edited May 28, 2009 by Chrispie

[Tiguana]

No leh.. i only had pri 4 education. Sorry to waste your time reading my childish post.

 

I was just doing what i think is right then... yes, one case wont change anything, but taht doesnt mean u have to join the bandwagon. If its a small case, i dun think there is a need to claim. Not withstanding the things these workshops can do to make a pile out of other's misfortunes.

 

You're right! We shouldn't condone such sucker mentality.

 

The insurance association should really do more. There should be a department to deal with such cases and that will respond to all accidents, taking photos and all. I wouldn't mind paying a yearly fee to get such a service and eventually benefit from lower premiums overall.

 

The self-reporting process is really flawed.

[Sony]

Just avoid the big names, A.., Lucy.

 

 

 

From my limited experience, it's always good to shop ard every year.. coz the renewal always quote higher.. guess they dont' bother much about retention

[Altivo]

hmm... looks like now i know why my colleague's dad who works as a surveyor can afford to buy a semi-D in Novena and have 3 cars. The kick-backs must be good... real good