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ChanSiLiang

First Time Car Buyer Insurance

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1st Gear

Hi friends

 

I am getting a new Honda Jazz soon and as a first time driver, i am required to take Honda's insurance for the first year. However, i was offered 1 year and 2 year package.

 

I'm 30 years old, male. 

 

1 Year - $1995, 0% NCD, Excess: $600

2 Year - $3331, 0%NCD, Excess: $600

 

May i know if i should take the first year or take the 2 year package. If i change insurance, will they consider my NCD based on the Honda insurance i signed for.

 

Please kindly advise. New driver here. Thanks for the great help 

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Hypersonic

As long as your ncd is with a a valid insurance company, should be OK bah. Mine is with kah motors via tokio marine.

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5th Gear

Hi friends

 

I am getting a new Honda Jazz soon and as a first time driver, i am required to take Honda's insurance for the first year. However, i was offered 1 year and 2 year package.

 

I'm 30 years old, male. 

 

1 Year - $1995, 0% NCD, Excess: $600

2 Year - $3331, 0%NCD, Excess: $600

 

May i know if i should take the first year or take the 2 year package. If i change insurance, will they consider my NCD based on the Honda insurance i signed for.

 

Please kindly advise. New driver here. Thanks for the great help 

 

The package is strongly pushing you to take up 2 years as the 1st year seems to be jacked up.

 

I recommend to take just 1 year.  About 2 months before your insurance expiry, get better quotes using 10% NCD and based on your requirements.

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4th Gear

Hi friends

 

I am getting a new Honda Jazz soon and as a first time driver, i am required to take Honda's insurance for the first year. However, i was offered 1 year and 2 year package.

 

I'm 30 years old, male. 

 

1 Year - $1995, 0% NCD, Excess: $600

2 Year - $3331, 0%NCD, Excess: $600

 

May i know if i should take the first year or take the 2 year package. If i change insurance, will they consider my NCD based on the Honda insurance i signed for.

 

Please kindly advise. New driver here. Thanks for the great help 

 

Not sure what plan Honda provide but if it is premium plan then quite reasonable provided your license is new (Less than 2 years). You can consider 2-year plan if you obtained your license this year only. 

 

NCD will be ok if you change insurance company after 1 year.

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4th Gear

Go those diy website and quote estimate for 2nd year premium.

Most likely cheaper their in house.

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Hypersonic

Hi friends

 

I am getting a new Honda Jazz soon and as a first time driver, i am required to take Honda's insurance for the first year. However, i was offered 1 year and 2 year package.

 

I'm 30 years old, male. 

 

1 Year - $1995, 0% NCD, Excess: $600

2 Year - $3331, 0%NCD, Excess: $600

 

May i know if i should take the first year or take the 2 year package. If i change insurance, will they consider my NCD based on the Honda insurance i signed for.

 

Please kindly advise. New driver here. Thanks for the great help 

 

have to look at a slightly bigger picture. 

 

does taking the 2 year policy translate to a higher insurance subsidy from KM than the 1 year policy ? then blend the numbers in to get an overall figure.

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4th Gear

Do ur math and homework...

 

Premium is tie to coverage.

 

Many just want cheap premiums... but didnt realise what they are covered.

 

Go for 1 yr plan. When near to expiry, hunt for a better one...

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Turbocharged

Assuming all remain the same, your second year premium will be $1795.5 (after 10% NCB). Total of your 2 years' premium will be $3790.5. Your package of $3331 saves you $459.5 which I think is not bad.

If you were to source separately, unless you can get it lower than $1535.5 for the second year, you don't gain.

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3rd Gear

not sure if you are allowed to cancel the policy after a while if you can find a cheaper premium elsewhere.

 

2 years at 3k+ breaks it down to 1.5k/year which is not too bad for a new driver. still slightly pricey though. 

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3rd Gear

Insurance are rather expensive for 1st time new car buyer n those age below 26yo. 

When I bought my 1st car, I signed for 2 yrs comprehensive package from AD. I do check with others but somehow are much expensive on the 1st yr. but only the 2nd year are safer in the event of any accident. Do check up further and be sure to cover much such as named driver if car are often driven by any of family members. 

 

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Neutral Newbie

it is advisable to get 3rd party insurance coverage for kia stonic(~$80,000) instead of comprehensive type? 

it make sense for high value conti cars >$200k-300k

Can save on premiums, since 3rd party cost less than half of comprehensive ones
Comprehensive ~$2k/yr
3rd party <$1k/yr
For 10 years, it could be $10,000 in savings

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Supersonic
48 minutes ago, JERRY98 said:

it is advisable to get 3rd party insurance coverage for kia stonic(~$80,000) instead of comprehensive type? 

it make sense for high value conti cars >$200k-300k

Can save on premiums, since 3rd party cost less than half of comprehensive ones
Comprehensive ~$2k/yr
3rd party <$1k/yr
For 10 years, it could be $10,000 in savings

What if you get into an accident and it’s your fault, are you willing to pay for your own repair?

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Supercharged
2 hours ago, JERRY98 said:

it is advisable to get 3rd party insurance coverage for kia stonic(~$80,000) instead of comprehensive type? 

it make sense for high value conti cars >$200k-300k

Can save on premiums, since 3rd party cost less than half of comprehensive ones
Comprehensive ~$2k/yr
3rd party <$1k/yr
For 10 years, it could be $10,000 in savings

Got loan? If so think cannot

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7 hours ago, JERRY98 said:

it is advisable to get 3rd party insurance coverage for kia stonic(~$80,000) instead of comprehensive type? 

it make sense for high value conti cars >$200k-300k

Can save on premiums, since 3rd party cost less than half of comprehensive ones
Comprehensive ~$2k/yr
3rd party <$1k/yr
For 10 years, it could be $10,000 in savings

The advice I always tell myself , even on non-car issues is, don't be penny wise pound foolish.

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Neutral Newbie

Hi all,

I’m also a first time car buyer but buying a used car of 3yrs.

Was waiting for the insurance quote from dealer n he just told me that based on my record, there was an “accident” claim made under my name some years back.

can this be possible? How do I check? 
I didn’t drive any car, own any car, rent any car, let alone have car insurance
 

thanks in advance. 

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Twincharged
29 minutes ago, Gabjay said:

Hi all,

I’m also a first time car buyer but buying a used car of 3yrs.

Was waiting for the insurance quote from dealer n he just told me that based on my record, there was an “accident” claim made under my name some years back.

can this be possible? How do I check? 
I didn’t drive any car, own any car, rent any car, let alone have car insurance
 

thanks in advance. 

This is of course not possible, the guy was just pulling a fast one with you, can you get a quote from another one or two insurer  yourself? 

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Neutral Newbie
17 minutes ago, Ct3833 said:

This is of course not possible, the guy was just pulling a fast one with you, can you get a quote from another one or two insurer  yourself? 

oh i see.. i didnt know buying car from them also can kanna this kind of insurance trick.. 

thank u!

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