motorcycle insurance issue - why stop at max 20% no claims discount

[theblackmamba]

recently having ridden my bike for 3 years i was told with renewal my max no claims discount is 20% cannot have anymore. i am wondering how come it stops at 20% and cannot extend to 50% like cars. bikes abroad can go up to same as car 50% or even 60%. how come bike insurance in singapore stop at 20%

[theblackmamba]

am i wrong to say this? car max no claim discount can be 50% ++ bike max 20% ++

[wait4me]

yeap ntuc say max at 20% and additonal 5% for loyalty

and yes car can discount up to 50% man

[Guest johjoh]

wow..i din noe about this. does this apply to all insurance companies in spore?

[wait4me]

wow..i din noe about this. does this apply to all insurance companies in spore?

 

that i do not know

onli know abt ntuc..

 

cause i jus renewed

[theblackmamba]

yes the all have like a cartel to stop max ncd at 20%

 

i mean seriously if u ride carefully and no claims shouldn't up to 50% be justified

[Guest johjoh]

maybe they tink there are more reckless riders than safe riders on the road..

[chuan.z]

wow..i din noe about this. does this apply to all insurance companies in spore?

 

Yes, "standard" practice. Otherwise, all motorcyclist will flock to one insurer...

[Guest johjoh]

Yes, "standard" practice. Otherwise, all motorcyclist will flock to one insurer...

 

thanks bro. but i heard that if u got clean record on the road..can have additional 5% is it?

[MIGHTY MAX]

Still Insurance went up....from my yearly paid $300 now $500

[guwakzai]

NCD is bull shyt.......when i renew insurance last yr, they say: sir, due to the high claims all around and insurance company losing money, insurance premium adjusted up 20%...

[fivefive]

NCD is bull shyt.......when i renew insurance last yr, they say: sir, due to the high claims all around and insurance company losing money, insurance premium adjusted up 20%...

 

safe riders paying at the expenses of reckless riders.

 

Fact of harsh reality!

 

Anyone like to orgaise a written protest to the insurance association ?ST forum?facebook poll etc?

 

http://www.gia.org.sg/

[vespaboy]

I wonder if motorcylists in Singapore have a case to go to CASE regarding this differential treatment? Any legal eagles care to comment?

[theblackmamba]

what shall we do to broach the subject ah? bike insurance now very ex especially for under 30s

[Guest johjoh]

when the amount of claims are less than what they(the insurancce companies) received from us..only then the premium will decrease..

[theblackmamba]

i agree however we should be rewarded further for having clean claims record as bikers.

[Guest johjoh]

i agree however we should be rewarded further for having clean claims record as bikers.

 

the only incentive i heard of is additional 5% NCD provided u request from the insurance company but i tink it is useless if the premium keep increasing..

[cyr]

just curious how do you check the rates for motorcycle insurance and compare.. for me i was using NTUC since day 1 never really searched others...

[theblackmamba]

must call and ask for quote

 

yes 5% is useless if they keep increasing

 

however i believe as road users as well we must be entitled to an explanation on why motorcycle MAX no claims discount allowed is 20% only

[crazydj]

If i go inspection in November this year, but my road tax expire in December, will my new inspection date be in November next year or will be the same as my road tax, December next year? Thx.

[the]

Your Loyalty and NCD is 20%

Insurance premium havent include GST 7%

Increase premium is 5-20%

 

 

So what savings are we talking here??

[Guest johjoh]

Your Loyalty and NCD is 20%

Insurance premium havent include GST 7%

Increase premium is 5-20%

 

 

So what savings are we talking here??

 

it just means we should save more to pay the ever increasing premium!

[skytrek]

Other than NTUC, Mitsui any other company offer cheapest insurance for 3rd party?

If have, I want to jump ship. Wonder whether NCD can be transfered to new insurance company too? If all of us do the same use the cheapest insurance company they sure forced to lower their insurance to secure their market share.

[Guest johjoh]

Other than NTUC, Mitsui any other company offer cheapest insurance for 3rd party?

If have, I want to jump ship. Wonder whether NCD can be transfered to new insurance company too? If all of us do the same use the cheapest insurance company they sure forced to lower their insurance to secure their market share.

 

I tink u can try AXA, aso quite cheap for 3rd party.

 

From what i understand, you can transfer NCD from one insurance company to another.

[paperger85]

I'm guessing its because bike's premium is only half of that of a car's premium. Yet when claim, payout can be the same?