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Help! NCD reset to 0!

Mrel

By Mrel,
in General Car Discussion

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Acemundo

Acemundo

Supercharged

Mind you, to be "fair" to them, insurance fraud of one sort or another is probably the most common type of fraud world wide

 

i don't dispute them.

 

but i rather them call a spade a spade.

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Vhtfhwlego

Vhtfhwlego

Supercharged

In Sg, most of the time, premium rate has nothing to do with mkt value of your vehicles. My previous E39 has the same premium every single year despite getting older every year.

Cars getting older, premium same.

Age of driver getting older & more experience yet premium increase.

 

So if mktg value cannot determine cost, age adds more cost, what are the odds we will get a good deal?

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Mllcg

Mllcg

3rd Gear

I don't think it will be good to make it non compulsory. If someone hits you and doesn't have the money to pay how? Or if you accidentally hit a car and you can't afford to pay thats even worse.

 

Anyway don't want to pay so much just get third party lo. Mine I am using third party only since I got my license and first car. Never bought comprehensive before.

 

3rd party 8k also... -.-

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D3badge

D3badge

6th Gear
(edited)

Only DA practise NRB or all other insurer practise that as well?

 

mine chartis, report accident minor brush just a scratch on my rear bumper. both (me and taxi) just file report but i didn't bother to claim taxi.

 

verdict?? Chartis reduce my NCD to zero say one year after report no claim then reinstate my NCD and refund my excess premium paid.....

 

I am thinking will I be better off claim taxi for a $50 paint touch up?? this car insurence crap that why partly why claim so high

Edited by D3badge
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inlinesix

inlinesix

Hypersonic

Cars getting older, premium same.

Age of driver getting older & more experience yet premium increase.

 

So if mktg value cannot determine cost, age adds more cost, what are the odds we will get a good deal?

When go B.M.W. [laugh] [laugh]

 

Insurers on this island nvr achieve economies of scale resulted in sky high premium. On the hand, if oligopoly, also the same. So, LPPL.

 

 

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Xers007

Xers007

Supercharged

Cars getting older, premium same.

Age of driver getting older & more experience yet premium increase.

 

So if mktg value cannot determine cost, age adds more cost, what are the odds we will get a good deal?

 

it should be car getting older and with higher NCD... premium more ex.... due to what inflation maybe

 

that's what happening to me when i am with NTUC AXA AIG... well i hop on to DA since and premium decrease...

 

 

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Nzy

Nzy

Twincharged
(edited)

3rd party 8k also... -.-

 

When young just get a different car. I am 21 with 3 years driving experience and my 3rd party insurance is 800+. Don't go get some car that has high premium.

 

Seems like in Singapore the older your car is the more u pay. I wanted to get a COE car for my first car when I just got license but the quotes I got also quite high. Found that it is cheaper to get a newer car.

Edited by Nzy
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KaKiLang

KaKiLang

4th Gear
(edited)

When young just get a different car. I am 21 with 3 years driving experience and my 3rd party insurance is 800+. Don't go get some car that has high premium.

 

Seems like in Singapore the older your car is the more u pay. I wanted to get a COE car for my first car when I just got license but the quotes I got also quite high. Found that it is cheaper to get a newer car.

 

I tod on financing cannot go 3rd party, unless you pay the car in full.

Edited by KaKiLang
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Kilatz

Kilatz

1st Gear

One of the major cause of high premuims for vehicle insurance is the repair workshops charging so much for a simple repair. Change a Vios rear bumper got reach 7k or not? Why don't these insurance companies have their own repair facility so that they can better access how much a repair is worth instead of paying inflated claims and passing the costs to us?

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Leo72

Leo72

6th Gear

One of the major cause of high premuims for vehicle insurance is the repair workshops charging so much for a simple repair. Change a Vios rear bumper got reach 7k or not? Why don't these insurance companies have their own repair facility so that they can better access how much a repair is worth instead of paying inflated claims and passing the costs to us?

 

they're using so call authorised workshop but the repair cost quoted by them also not cheap... a simple Atlis Bumper will cost ard $1K to repair but the cost of bumper $400 with spray paint, car rental $60 per day... so the value add is ard $500+... so how can insurance be cheap since authorised workshop is also not cheap.

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Kilatz

Kilatz

1st Gear

they're using so call authorised workshop but the repair cost quoted by them also not cheap... a simple Atlis Bumper will cost ard $1K to repair but the cost of bumper $400 with spray paint, car rental $60 per day... so the value add is ard $500+... so how can insurance be cheap since authorised workshop is also not cheap.

 

They kana [knife] by their own authourised workshop and in the end we are the victims...

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Mrel

Mrel

1st Gear
  • Author

Holy crap. Did not check the thread for 1 night, and it moved so fast.

 

Anyway, I've decided to undertake. I emailed DA to confirm there is no claims against me, as of now. So that in the future, if the other party really claim against me, I got something to fall back on.

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Ghostrider

Ghostrider

3rd Gear

Need help from you guys.

 

My insurance is expiring and I called DA to check my upcoming NCD and quote. To my horror, I was told that my NCD is reset to 0 because I reported an accident in August.

 

It was a minor accident (not my fault), and after the CSO checked, no claim was filed against me. She told me that if I were to reinstate the NCD, I need to sign an undertaking form to bear all liabilities for this accident.

 

Is this the standard practice? Should I go ahead and sign the undertaking form? If I move to another insurer, my NCD would be still 0 unless I sign that form?

 

 

Thanks in advance

 

LPPL....just accept the higher premium.

 

Ask your DA on when the report will expire. It will expires in 12 months if nobody report against you during this period. After the expiry date, you can ask for your NCD to be reinstated and claim back the premium (the excess part) from your policy)

 

Dun sign the indemenity letter...if the claim comes in on the 11 months...you will have to settle it yourself.

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Nzy

Nzy

Twincharged

I tod on financing cannot go 3rd party, unless you pay the car in full.

 

Mine is paid in full ma. If on financing sometimes u lucky can get also. Got one of my friend didn't know then just say want third party only. Surprisingly they allowed. But then when he wanted to renew they said got error and need to get comprehensive.

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