Dec_allion Clutched October 20, 2010 Share October 20, 2010 (edited) I settled with aviva instead of DA as my license is less than 2 yr. What a waste, after selecting optional item which I dun think I will need, I get quoted only 1900 for my allion. That aunty Lucy which offer my renewal at 3000. which does not include the item I selected in DA or aviva Edited October 20, 2010 by Dec_allion ↡ Advertisement 1 Link to post Share on other sites More sharing options...
themagi Neutral Newbie October 20, 2010 Share October 20, 2010 your broker don't know his work. NCD protector is good. Usually it's additional 10% of your premium. For eg. if your insurance premium is $1000 for next renewal. And they load you say 20 percent for a claim and make it $1200, if you do not have NCD protector, then your NCD would be 20%, which means u got to pay $960. If you have NCD protector, then your NCD would still be 50%, and u only got to pay $600. Not to mention the savings for the next few years if your NCD got to slowly climb back from 20%. Does this makes sense to you ? I'm thinking about NCD protector too the next round since my NCD is 50% now. An insurance for the insurance, sounds dumb but works out if there is an accident. And that is what insurances are all about - handling the IF. 1 Link to post Share on other sites More sharing options...
Kb27 Supersonic October 20, 2010 Share October 20, 2010 (edited) your broker don't know his work. NCD protector is good. Usually it's additional 10% of your premium. For eg. if your insurance premium is $1000 for next renewal. And they load you say 20 percent for a claim and make it $1200, if you do not have NCD protector, then your NCD would be 20%, which means u got to pay $960. If you have NCD protector, then your NCD would still be 50%, and u only got to pay $600. Not to mention the savings for the next few years if your NCD got to slowly climb back from 20%. Does this makes sense to you ? And you think your loading is only 20% ? Please don't assume people here do not know how to make simplistic calculations like you. Edited October 20, 2010 by Kb27 Link to post Share on other sites More sharing options...
Kb27 Supersonic October 20, 2010 Share October 20, 2010 I'm thinking about NCD protector too the next round since my NCD is 50% now. An insurance for the insurance, sounds dumb but works out if there is an accident. And that is what insurances are all about - handling the IF. Insurance premium is much more complex than what it seems. NCD protector sounds nice and apparently everyone should get it. But if you look at how they work the numbers, they start from the actual premium like say $2000 and starts deducting downwards, your ncd, COM, etc.. and add upwards like gst or other "value-added" options like NCD protector, your own preferred workshops..etc. Imo, value-added options are usually their "bonus" and bigger margins if you don't use it. With each year, the insurance premium starts from a different level making it difficult to calculate if your ncd protector is really worth it. Premium has been rising for the past few years due to the claims and accordingly they are "making a loss" and trying to recoup their loss. We can talk insurance and re-insurance and there's a market for it, if the insurance company can make money. If you lose money, they will adjust their rates accordingly or get out of this business. Now, whether you think your NCD protector is worth it..I guess it's up to individuals to do their homework. I have 50% ncd for the past few years and I don't pay for the protector. I don't make a claim so I can't tell you if it's worth it this year or the next. As I said, premium calculations is very dynamic year upon year. Link to post Share on other sites More sharing options...
Little_prince Supersonic October 20, 2010 Share October 20, 2010 Hmmm... do they do 3rd party only insurance cover? My car fully paid up liao so no point getting comprehensive so far the quotes i get comprehensive and 3rd party quite close.... bo hua leh... if you get comprehensive remember to get + fire and theft as well... to cover 1 Link to post Share on other sites More sharing options...
Kb27 Supersonic October 20, 2010 Share October 20, 2010 so far the quotes i get comprehensive and 3rd party quite close.... bo hua leh... if you get comprehensive remember to get + fire and theft as well... to cover I also heard the between comprehensive and 3rd party the difference is very little. I guess the majority of the risk is the claims against you and not your own damage and thus little diff between comprehensive and 3rd party. But perhaps, if you're driving an exotic or expensive sports car the difference would be a lot more. Link to post Share on other sites More sharing options...
Little_prince Supersonic October 20, 2010 Share October 20, 2010 aiya... most of us all B&B jap car... even conti like BMW for my dad etc not much diff... farking dumb... anyway Link to post Share on other sites More sharing options...
RunForrest Neutral Newbie October 21, 2010 Share October 21, 2010 And you think your loading is only 20% ? Please don't assume people here do not know how to make simplistic calculations like you. When I read your 1st sentence, I thought you are agreeing with me. Then I see your 2nd sentence, hmm.. sounds a bit hostile... so i guess not. When, since you know how to do the maths, if the claim loading is more , say 100%, do you think you would have save more with the protector or without ? I think your problem is that you have no problem. Bcoz you are a safe driver. So all these doesn't affect you. Anyway, no offence, I'm just stating facts so that people who are genuinely considering this option make a right choice. Link to post Share on other sites More sharing options...
Voodooman Supersonic October 21, 2010 Share October 21, 2010 Cheap premium is not the most important consideration in buying insurance (any insurance), the claim process must be easy, efficient, hassle-free and the paymaster must be good. Hence people pay more for insurers with good reputation and payment records. There are a few names I would avoid irregardless of premium. Not sure about DirectAsia track records on this front, so I will avoid for now. 1 Link to post Share on other sites More sharing options...
Darryn Turbocharged October 21, 2010 Share October 21, 2010 When I read your 1st sentence, I thought you are agreeing with me. Then I see your 2nd sentence, hmm.. sounds a bit hostile... so i guess not. When, since you know how to do the maths, if the claim loading is more , say 100%, do you think you would have save more with the protector or without ? I think your problem is that you have no problem. Bcoz you are a safe driver. So all these doesn't affect you. Anyway, no offence, I'm just stating facts so that people who are genuinely considering this option make a right choice. Like any other product, the insurance company only offers it because it makes them money. Make out of that what you will. 1 Link to post Share on other sites More sharing options...
Asdfghjkl Neutral Newbie October 21, 2010 Share October 21, 2010 I will avoid new boys and watch them for a while. Let other become guinea pig first and provide feedback for us. It is very easy for insurers to say you breach this and that conditions and don't pay your claim. Is Direct Asia a local company or Ang Moh company ? Some foreign company are quite technical when it come to claim. 1 Link to post Share on other sites More sharing options...
Kb27 Supersonic October 21, 2010 Share October 21, 2010 DA is angmoh company. If you're scared of angmoh company, then there are many you should avoid like RSA, AIG, AXA ...etc and just support NTUC. Link to post Share on other sites More sharing options...
Donghai Neutral Newbie October 21, 2010 Share October 21, 2010 one of the reasons why they cheaper becoz they dont insure high-risk cars. i called to enquire and they dont provide insurance for RX8. 1 Link to post Share on other sites More sharing options...
Furrynadz 5th Gear October 21, 2010 Share October 21, 2010 mm cheaper by 35%-40% for aviva/da compared to AIG time to dump AIG 1 Link to post Share on other sites More sharing options...
Davetan86 Neutral Newbie October 21, 2010 Share October 21, 2010 I was quote between $1700 - $2100 with 20% from other insurance company. Got a quote from DA at $900 and i go for it. 1 Link to post Share on other sites More sharing options...
Kb27 Supersonic October 21, 2010 Share October 21, 2010 one of the reasons why they cheaper becoz they dont insure high-risk cars. i called to enquire and they dont provide insurance for RX8. I also think that they are new. They don't have old baggage of claims from last year to deal with. Next year might be different though. Link to post Share on other sites More sharing options...
Ahyoo2002 2nd Gear October 21, 2010 Share October 21, 2010 Aviva is cheaper than DA in my case. 1 Link to post Share on other sites More sharing options...
Turbonetics 2nd Gear October 21, 2010 Share October 21, 2010 i tried out the virtual quote from Aviva and DA and they are pretty cheap being DA the cheaper ones. my current car insurance i paid about $1700plus for 1st year,2nd year $1800plus and 3rd year $2200 plus with increased NCD yearly. i changed insurer on the 3rd year because my usual premium was very high for 3rd year and i switched to ACE which was the cheapest i sourced. this year i should be getting DA.so much cheaper. it doesn't make sense when my NCD increase and premium also increase every year.knn. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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