insurance too ex,increase too much already

[ProFatSir]

dunno why the insurance increase until so high.

issit of too many accident?

 

 

 

if next year my car insurance is going up again.

i would choose to laid it up instead of renew the policy.

[alifk69]

this is singapore man... they will tink up a million ways to squeeze every cent from us.. you lay up also will cost money.. you sell also most probably you lose a bit of money..

[EvilGixxer]

bcos there are too many c0ck drivers around... accident many many, insurance companies not enuff profit so raise the premium loh.

[contrarian]

Lay up or sell off is the option you can control to deal with this. I'd say that laying up cars is often a bad idea because of the PARF.

 

The more difficult option would be to get other riders and drivers out there to cause less injury and damage to others while operating their vehicles.

[guwakzai]

maybe u can consider opening an insurance company cos its a sure profit!

[samurai8410]

hmm i think while those accident is going on, they are taking every chances they can... so for now i think its with or against them.. heheh

[xIaozAi]

maybe u can consider opening an insurance company cos its a sure profit!

 

this idea is good for us but not for TS bah. we can get policy from TS cheap cheap but most of the insurance company are losing money now.

[ProFatSir]

finally my insurance for this year is cheaper by 900+(by etiqa)

AIG still quote me more ex than them 300plus.wth

 

aig quote-1960+

etiqa quote-1660+

 

excess 500/no restriction on workshop.

 

who need contact can get from me.

 

 

 

 

 

 

maybe u can consider opening an insurance company cos its a sure profit!

 

even got $ to open,comfiem no $ to pay for the accident done by the poor drivers.

 

hmm i think while those accident is going on, they are taking every chances they can... so for now i think its with or against them.. heheh

 

hahaha

 

this idea is good for us but not for TS bah. we can get policy from TS cheap cheap but most of the insurance company are losing money now.

 

yes is true,insurance company are having a huge losses

[cougar]

finally my insurance for this year is cheaper by 900+(by etiqa)

AIG still quote me more ex than them 300plus.wth

 

aig quote-1960+

etiqa quote-1660+

 

excess 500/no restriction on workshop.

 

who need contact can get from me.

even got $ to open,comfiem no $ to pay for the accident done by the poor drivers.

 

 

hahaha

yes is true,insurance company are having a huge losses

 

Your car is how many cc?

U open insurance company cum motorshop, restrict repairs to your own workshop only, sure make money wan. Justifiably, you quote the town's lowest insurance quotes, in return you cover your low pricing with you own trusted mechanics to do the repairs.

[Fried Rice]

my insurance 888$

18 yr old, 3rd party. honda nsr sp.

[cougar]

sometimes i think the insurance pricing is purposely unregulated by gahment so that we all give up our transport and take public, so SMRT and SBS can make more money. Let the insurance companies be greedy, greed is good.

[ghost04]

why not organise a dialogue wit the insurance companies to voice our unhappiness...

even NCD also not enough to cover the increment in premiums...

really when i retire from riding i make sure i claim something big big from them...

[Yongster]

From the consumer point of view, you might think that the premium is very high... But you have not considered that the claim amount by a single accident can be many times your premium... You can say that insurance is just for you to pay road tax and u are a safe driver / rider.... But when accident happens, do you think that way when u get your claim?

 

Motor insurance has been losing money all the way for so many years.... It is a compulsory class of insurance for anyone who owns a vehicle.... If you cannot afford it, then maybe u shd really consider public transport.... wan to enjoy comfort and convenience of having a vehicle then have to bear with it...... Does anything come free in this world??

 

Maybe you guys can try thinking in the direction that with the raising of insurance premium, those ah beng wanabe car racers will think twice about speeding and driving recklessly so that the roads can be safer for riders.........

Edited December 23, 2009 by Yongster

[MiCmAsTa]

Don't know if Singapore Insurance Companies practice this at all:

 

• According to the Road Traffic Act there are many things that should be taken into consideration while issuing insurance policies. Some of these are the age, physical or mental condition of the driver, condition of the car, restriction of people to be carried. All these are considered to set the appropriate premium to cover the innocent accident victims.

 
Should apply this "Mental Test" to all road users in Singapore. Especially Taxi Drivers and Future Taxi Drivers.
 

Do not modify your car without talking to your insurer because modification could increase your premium. Premium is dependent on various factors. So it is advisable to have an initial chat with your insurer.

 

Since these drivers have money to "mod" their vehicles, so i think its ok for them to pay a few more hundreds for their coverage.

 

Anyone in the automotive Insurance department care to clarified?

 

*Note: The above points are taken from UK Insurance Providers' website.

[Yongster]

Actually all mods are not inclusive of insurance payouts unless declared.. In the context of cars, all underwriting conditions are based on the car whereby it is factory fitted... Even the bodykits and sports rims that you add on are not included unless declared..... As for illegal mods to the engines and exhausts, the insurance companies can actually repudiate claims if vehicles are discovered to to have illegal modifications......

 

Just that in Singapore, the surveys of vehicles are not done very throughly.... The assessment centres only take note of the damages but they do not check for illegal mods.... Hence, those people who got ino accidents with their souped up vehicles and managed to claim insurance are very lucky..... If a proper assessment is done, they would probably not be able to claim insurance... I personally have seen and heard of insurance claims being repudiated due to illegal modifications of vehicle...

[MiCmAsTa]

Actually all mods are not inclusive of insurance payouts unless declared.. In the context of cars, all underwriting conditions are based on the car whereby it is factory fitted... Even the bodykits and sports rims that you add on are not included unless declared..... As for illegal mods to the engines and exhausts, the insurance companies can actually repudiate claims if vehicles are discovered to to have illegal modifications......

 

Just that in Singapore, the surveys of vehicles are not done very throughly.... The assessment centres only take note of the damages but they do not check for illegal mods.... Hence, those people who got ino accidents with their souped up vehicles and managed to claim insurance are very lucky..... If a proper assessment is done, they would probably not be able to claim insurance... I personally have seen and heard of insurance claims being repudiated due to illegal modifications of vehicle...

 

Its not just about claims. Its about the mentality of the drivers/Riders who have their vehicles pimped.