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ChanSiLiang

First Time Car Buyer Insurance

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

Most likely cheaper their in house.

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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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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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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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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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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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