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Car Insurance Renewal Very Expensive


Apvman
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Went to renew my car insurance recently and seems like the premium keeps increasing and never decrease loh even with my NCD of 50%. Not much difference as compared to my last year premium.

 

When ask the insurance company, knn always same old excuses. Got many PPLE CLAIMS, no choice, up the premium for all drivers.

 

Whats that got to do with drivers like us who never even do any claims at all?

 

Seriously, is our very efficient watchguard, CASE or whatever doing anything to prevent overclaiming by drivers who involved in accidents.....

 

All sleeping on the job!

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Went to renew my car insurance recently and seems like the premium keeps increasing and never decrease loh even with my NCD of 50%. Not much difference as compared to my last year premium.

 

When ask the insurance company, knn always same old excuses. Got many PPLE CLAIMS, no choice, up the premium for all drivers.

 

Whats that got to do with drivers like us who never even do any claims at all?

 

Seriously, is our very efficient watchguard, CASE or whatever doing anything to prevent overclaiming by drivers who involved in accidents.....

 

All sleeping on the job!

 

 

Hi,

 

Dun bother to depend on CASE (it will NEVER work)

 

My advice is that you start hunting/calling all available insurance companies to ask for quote.

 

Try O.A.C, EQ Insurance or Tokio Marine, these companies gave me a better quote (low excess and low premium) compared to the bod boys (N**C)

 

I advocate that insurance companies should look at driver's past history (claim or no claim) instead of overall profitability.

 

People whom has not claim anything for the past years should not be penalised.

 

Anyway, I have just renew with Tokio Marine about $ 650 (50% + 5%) for a 3 yrs old saloon car with 0 excess (Outdoor sales vocation)

 

Happy searching.

 

Cheers.

 

 

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actually every year the car depreciates, the insured value of the car is getting lesser and lesser signficantly, car depreciation is easily at least $5k per year ..

 

also with every year that passes, the driver will have more experience and also age goes higher, so premium should really drop naturally

 

i really dont know why must increase premium at all, even maintain premium also should be unlikely.....

 

 

 

if they say more accidents and more people claim, then those people who claimed will have no more NCD and higher premium, they should earn back from that pool instead and not those innocent guys ....

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I have mentioned b4 that as of June 2009, the whole industry motor business is making loss. Therefore, increase in premiium is foreseeable. The only way for it to go down is reduction in claims.

 

Our local mkt is so small, however, there are so many insurance co around. Therefore, there is no economy of scales to make $ unless there is reduction in claims.

 

On the other hand, when compare quote, make sure the terms & conditions is the same.

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Neutral Newbie

LL still have to buy...

Not much diff as last year consider lucky...

There are some i heard after additional 10% NCD... premium is higher than previous year.

It all depends on what car you drive...

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LL still have to buy...

Not much diff as last year consider lucky...

There are some i heard after additional 10% NCD... premium is higher than previous year.

It all depends on what car you drive...

 

me lah. here is wat happened:

 

1st yr wif ntuc 0% ncd: 1.1k

2nd yr wif ntuc 10% ncd: 1.3k

3rd yr wif ntuc 20% ncd: 1.3k zzzzzzzzz

 

anyway i said bye bye to them already. now wif axa, 950

 

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Neutral Newbie

Just wondering which other company provides installment plans? Thanks.

 

can look for www.sgcarinsurer.com.

 

Got from them and they help me save quite a fair bit.

 

Think they got a few installment plan but need credit card.

 

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I've posted it on here before but just for info:

 

In S'pore 3 year old Altis Corolla 1.6l auto S$880 pa.

 

In UK 3 year old Corolla 1.4l manual S$200 pa

 

Both insurances with the standard excess.

 

Something wrong somewhere.

 

I am gonna try the suggestion of Tokio Marine next year.

 

 

er, have you tot how much a 3-year old Corolla costs in UK vs a 3 year old Corolla costs in Singapore? so, not really apple to apple.

 

cars are so much cheaper overeseas yet their premiums are more expensive than here. I read that injury claims payout there are 10 times higher than Singapore's, hence, even more expensice premiums...

 

My premium increased by 20% though I had 50% NCD...sigh. Fact of life, costs of living in Spore is high- electricity, ERP, road-tax, parking, school bus transport, public transport, property prices, tell me something which has gone done.

 

[bigcry]

 

 

 

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just renewed mine with hsbc. $660 50% NCD...try getting a quote from them

 

didnt know hsbc is into car insurance nowadays. Next time then try liao.. tooo late for me

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I don't care about insurance company loyalty. The cheapest premium I get, I jump over.

In spite of rising insurance premium, I managed to pay slightly lower each year:

 

2004 - AIG $950

2005 - AIG $850 10% ncd

2006 - AXA $800 20% ncd

2007 - RSA $600 30% ncd

2008 - MSIG $700 40% ncd

2009 - RSA/Marsh $600 50% ncd

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I don't care about insurance company loyalty. The cheapest premium I get, I jump over.

In spite of rising insurance premium, I managed to pay slightly lower each year:

 

2004 - AIG $950

2005 - AIG $850 10% ncd

2006 - AXA $800 20% ncd

2007 - RSA $600 30% ncd

2008 - MSIG $700 40% ncd

2009 - RSA/Marsh $600 50% ncd

 

Gd to you... my insurance keeps increasing every year... so every year headache for me... KNN. Now heckcare. Go for the cheapest

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