Insurance Quote for 1989 Toyota Corolla 1.6M

[Mllcg]

Initially i insured it comprehensive till abt 15yrs i switch to TPFT 2nd party cos premiums kept going up instead of down which sud b e case as car gets older its value drops. I ask my agent n he say cos older car parts hard to find n more ex.

 

I then ask what my value if total loss. He say close to scrap value. Then i ask scrap value abt same as residual coe value which ins co wil get back from lta. Then i pay so much premium for what?

 

He say to cover 3rd party claims. WTF. Its all a big con job by ins cos.

 

And this was with aunty lucy.

 

i thought the insurance policy says it will cover market value?

[Pisces69]

i thought the insurance policy says it will cover market value?

 

 

Yes market value. My market value fr coe car was abt same as e residual pro-rata balance value of coe.

 

So in reality ins co give me nothing if total loss. I only get back my balance coe value which ins co wil recover fm lta when ty scrap e car.

 

So im paying high premium just to cover 3rd party claims.

 

Most pple dun ask ty dun know what ty r paying e ins co for.

 

Only if ty hv a claim fr total loss wil ty find out if ty do their sums correctly. And not many pple ever claim total loss so wil never know. Another ins co trick.

[Nzy]

Ins co say older cars very hard to find parts so dun wan to cover own damage.

 

I drove my coe corona till 19yrs n never had problem getting either new original...oem..patent parts or 2nd and from scrapyards.

 

If i can easily find...how come ins co ty so experienced n well connected cannot find parts? All a load of bullsheet fm them.

 

Cuz they just generalize all COE cars. Not all COE cars have parts easily available. I know an owner with a COE elantra who has problem getting parts. Not easy to get parts cuz it wasn't even popular in SG. For Corona of cuz easy to get parts cuz it was quite popular.

[Mllcg]

Yes market value. My market value fr coe car was abt same as e residual pro-rata balance value of coe.

 

So in reality ins co give me nothing if total loss. I only get back my balance coe value which ins co wil recover fm lta when ty scrap e car.

 

So im paying high premium just to cover 3rd party claims.

 

Most pple dun ask ty dun know what ty r paying e ins co for.

 

Only if ty hv a claim fr total loss wil ty find out if ty do their sums correctly. And not many pple ever claim total loss so wil never know. Another ins co trick.

 

actually, if u are driving a popular COE car, there is bound to be a another one for sale surely.

 

print that and show the insurance coy the market value

[Pisces69]

Cuz they just generalize all COE cars. Not all COE cars have parts easily available. I know an owner with a COE elantra who has problem getting parts. Not easy to get parts cuz it wasn't even popular in SG. For Corona of cuz easy to get parts cuz it was quite popular.

 

 

Jap cars easy cos japan ty scrap cars abt 2-3yrs cos their inspection very hard to pass. These cars r sold fr their parts.

 

Merc also got cos germany pple change cars every few years. Big market all over fr their 2nd hand parts.

 

Korea cars not easy to get parts. Thats why i scrap my hyundai exel at 10 yrs although it was in very good condition.

 

 

 

[Pisces69]

actually, if u are driving a popular COE car, there is bound to be a another one for sale surely.

 

print that and show the insurance coy the market value

 

Not so many on e roads after it 15 yrs old. Most pple unable to maintain their cars so long.

 

I can cos i know how. My corona cud even go till 30 yrs if i wanted.

 

Only cos of coe did i decide to scrap.

[Mllcg]

Jap cars easy cos japan ty scrap cars abt 2-3yrs cos their inspection very hard to pass. These cars r sold fr their parts.

 

Merc also got cos germany pple change cars every few years. Big market all over fr their 2nd hand parts.

 

Korea cars not easy to get parts. Thats why i scrap my hyundai exel at 10 yrs although it was in very good condition.

 

how hard their inspection?

 

i only know its freaking expensive..

 

per inspection about 300-400k yen

Edited March 11, 2013 by Mllcg

[Mockngbrd]

how hard their inspection?

 

i only know its freaking expensive..

 

per inspection about 300-400k yen

no hard to pass iirk... they also got "friendly" wan... and no need to go to an "inspection centre", just need to go to workshops that can do the "inspections" can liao.

And most of the time, the cops won't bug "modded" cars.

Edited March 11, 2013 by Mockngbrd

[Pisces69]

how hard their inspection?

 

i only know its freaking expensive..

 

per inspection about 300-400k yen

 

 

I heard every little thing is a fail. Ty wan u to keep buying new car to support their motor industry.

 

But cars there very cheap.

 

Most pple find it cheaper n easier to get a new car.

[Mllcg]

I heard every little thing is a fail. Ty wan u to keep buying new car to support their motor industry.

 

But cars there very cheap.

 

Most pple find it cheaper n easier to get a new car.

 

cars so cheap there.

 

26k SGD can get a toyota 86

[Kangadrool]

cars so cheap there.

 

26k SGD can get a toyota 86

 

Not the taxes I supposed. That's why Mickey mouse cars with 660 cc are very popular there.

[Mllcg]

http://en.wikipedia.org/wiki/Motor-vehicle...pection_(Japan)

 

high flow cat converters allowed T_T

[Pisces69]

cars so cheap there.

 

26k SGD can get a toyota 86

 

 

Ya cos its big domestic revenue earner in jap. Thats why 2yrs scrap n get new.

[Pisces69]

Not the taxes I supposed. That's why Mickey mouse cars with 660 cc are very popular there.

 

 

Those classed as minicar class. Special low taxes to use in e small streets in japan so dun cause congestion.

 

Meant fr those small cottege industries in small cities to use fr deliver goods n moving around.

[Mockngbrd]

not taxes. is becos u buy car u must show proof u have a parking lot for the car. that's the expensive bit. K-cars are exempted from this rule.