Insurance for fully paid up car. Cheaper??

[Playtime]

As title suggests, can anyone confirm if the insurance for a fully paid up car (no more loans) cheaper?

[Friendstar]

As title suggests, can anyone confirm if the insurance for a fully paid up car (no more loans) cheaper?

 

 

yes cos u can insure under 3rd party only.

 

instead of comprehensive.

[Eyke]

As title suggests, can anyone confirm if the insurance for a fully paid up car (no more loans) cheaper?

 

only if u buy 3rd party + fire + theft or 3rd party,

which are cheaper than comprehensive.

 

[Genes]

What's the difference between 3rd party and comprehensive in terms of coverage?

[Playtime]

OK..

I have a 5 yr old latio thats fully paid up.

Comprehensive vs 3rd party then, whats the pros and cons ($$s) in insurance cost.... and in the event of an accident?

I could ask insurance sgents... but rather get some neutral opinions here first :)

[Galantspeedz]

What's the difference between 3rd party and comprehensive in terms of coverage?

 

comprehensive is you bang people.. insurance pay repairs for both cars.

 

3rd party is you bang people.. insurance only pay repairs for the other car.. you pay your own repairs...

 

people bang you... same... you claim their insurance

 

another thing i heard is with regards to personal liability...... but this i am not so sure....

 

i am on 3rd party

[Galantspeedz]

OK..

I have a 5 yr old latio thats fully paid up.

Comprehensive vs 3rd party then, whats the pros and cons ($$s) in insurance cost.... and in the event of an accident?

I could ask insurance sgents... but rather get some neutral opinions here first :)

 

 

look at my above post for pros and cons of insurance...

 

most importantly is, you must ask yourself this.... at what repair cost will you rather scrap the car... then you can decide you want 3rd party or not..

 

for me.. anything more than 2-3k i will scrap my car...as it is in the 8th yr already

 

i am on 3rd party

[Hjteo]

Hi Galantspeed,

 

Just to check - have you heard of any TPFT (3rd party) that covers windscreens as well ?

 

 

 

 

[Galantspeedz]

Hi Galantspeed,

 

Just to check - have you heard of any TPFT (3rd party) that covers windscreens as well ?

 

not sure about that.. touchwood still do not need to find out..

 

but i guess you can ask insurer to incorporate the windscreen thingy for you, for a higher premium of course... try asking them..

[Kensk]

comprehensive is you bang people.. insurance pay repairs for both cars.

 

3rd party is you bang people.. insurance only pay repairs for the other car.. you pay your own repairs...

 

people bang you... same... you claim their insurance

 

another thing i heard is with regards to personal liability...... but this i am not so sure....

 

i am on 3rd party

 

What about 50-50 cases or yet to investigated cases?

[themagi]

I heard 3rd party more common for older cars near COE end date or COE cars?

[Ehchang8]

What about 50-50 cases or yet to investigated cases?

i think the point is yr insurance will not pay for yr car, they only insure the damage u cause to other car. so for yr car, u either pay yrself or claim the other car's insurance or both.

 

i checked with my insurance before, for me, the difference is $200+ ($900+ vs $1100+). so i took up the comprehensive policy instead of 3rd party.

[Galantspeedz]

What about 50-50 cases or yet to investigated cases?

 

it should work exactly the same as comprehensive in a way..

 

50-50. you pay own repairs first instead of claiming your own insurance company.. if you win then you claim from other party...

 

i never encounter accident before but logically this should be how it works

[Galantspeedz]

i think the point is yr insurance will not pay for yr car, they only insure the damage u cause to other car. so for yr car, u either pay yrself or claim the other car's insurance or both.

 

i checked with my insurance before, for me, the difference is $200+ ($900+ vs $1100+). so i took up the comprehensive policy instead of 3rd party.

 

maybe you want to check with other insurers?

 

my difference was 1k +/-

[Little_prince]

if you under loan... no choice die die have to buy comprehensive...

 

you can only buy 3rd party if you don't owe the bank money...

[Ehchang8]

maybe you want to check with other insurers?

 

my difference was 1k +/-

wah, should have check with other insurance. next year will check ....

[Little_prince]

jobless liaoz... just throw letter... boo hoo hoo

[Genes]

comprehensive is you bang people.. insurance pay repairs for both cars.

 

3rd party is you bang people.. insurance only pay repairs for the other car.. you pay your own repairs...

 

people bang you... same... you claim their insurance

 

another thing i heard is with regards to personal liability...... but this i am not so sure....

 

i am on 3rd party

 

If we r on 3rd party, will we still be able to "collect" NCD?