[Discussion] Insurance Matters

[GuiNNeSS]

hw come? 4K that's very high.

 

Dunno leh, maybe under 26? high performance car etc?

[jia_yvon]

me too

 

if put under my name, 4k plus

if put under my dad's name, 2k nia.

 

my fren was quoted 5k for his integra. damn ex..

[wait4me]

wonder why when u all say kuku female drivers

but when comes to insurance , they got a bit more discount

[Dino Bravo]

me too

 

if put under my name, 4k plus

if put under my dad's name, 2k nia.

 

my fren was quoted 5k for his integra. damn ex..

 

How old is your friend?

If your friend was quoted 5K for an integra,

I was quoted 4.1K comprehensive for a lancer 1.6 GLX from NTUC!

I'm 25 with 3.5yrs driving exp.

I settled for Maybank insurance instead, 2.5K same coverage any workshop, $500 excess.

 

Why so much difference?

NTUC has always been my prefered insurer all the while. Ive been with them for the past 6yrs while riding. This time i'm disgusted by the huge difference. Poor man like me gotta settle for cheap insurance.

[paiseh]

Poor man like me gotta settle for cheap insurance.

 

hi Dino Bravo, everyone wans to settle for cheaper insurance la

 

so you got your lancer? is it a manual? free come out outing leh

 

post some pics la!

[GuiNNeSS]

If your friend was quoted 5K for an integra,

I was quoted 4.1K comprehensive for a lancer 1.6 GLX from NTUC!

I'm 25 with 3.5yrs driving exp.

I settled for Maybank insurance instead, 2.5K same coverage any workshop, $500 excess.

 

Why so much difference?

NTUC has always been my prefered insurer all the while. Ive been with them for the past 6yrs while riding. This time i'm disgusted by the huge difference. Poor man like me gotta settle for cheap insurance.

 

Dino i think is our age that makes it expensive? but 4.1k from NTUC seems like abit too much for a GLX.

 

not forgetting my highest quote from AIG is 7k

[MS]

Dino i think is our age that makes it expensive? but 4.1k from NTUC seems like abit too much for a GLX.

 

not forgetting my highest quote from AIG is 7k

 

Whoa... 7K for a STI?! How old are you? 21? 22?

I guess the factor that played us all out is the age. Every 2 years older, your premiums dip substantially. If I were to buy my Golf GT at the age of 30 and 20% NCD, I'd gotten a quote of only $1.5K. A whoppping $900 difference with the age 1 year junior and 10% lesser on NCD.

[jB]

I have always prefered NTUC to any other companies regarding my mtorcycle insurance coverage for the past 6yrs.

 

Recently I got a quote from then for a 2yr 3mth old Mitsubishi Lancer 1.6M.

They quoted a whooping $4,133!!!

The other companies quoted $2,500 lowest. $2,886 highest.

How come NTUC so much difference?

All quotations are based on comprehensive coverage.

I expect my insurance to be high, but not so high like 4K!!!

Perhaps if its for a turbo charged 2-door car, i understand. But its a normal family saloon / sedan car mind you.

Dammit! Ridiculous!

I'm not going NTUC this time. not my prefered insurer.

24 year old quoted 2.3k only for brand new FYI

 

 

28 years old, 0 driving exp, 0% NCD, $1600+ for Peugeot 207

29 Years old, 1yr dr exp, 10% NCD, $2400+ for VW Golf GT

 

How did your civic 2L go up to 3.9K?! And your gf paying 3.3K for her lancer?!

You all went to buy from a parallel importer?

wonder whats with the significant difference

 

Lancer EX from C&C leh.

 

the Civic quoted from KAH also.

you know even for Stream, they quote me $3.7k.

 

wah your insurance is surprisingly low, is it because of the rarity?

Lancer Glx from C&C 2.3k , don't forget if you take NTUC they'll only allow you to claim repairs at their approved workshops instead of C&C workshop. If you insist then only a quoted amount will be permitted to you for repairs at C&C for claim. If you don't do at C&C then your warranty might be void also

[GuiNNeSS]

Whoa... 7K for a STI?! How old are you? 21? 22?

I guess the factor that played us all out is the age. Every 2 years older, your premiums dip substantially. If I were to buy my Golf GT at the age of 30 and 20% NCD, I'd gotten a quote of only $1.5K. A whoppping $900 difference with the age 1 year junior and 10% lesser on NCD.

 

 

24 loh bro, i dun think otr experience plays much difference after 2 years.

[paperger85]

24 year old quoted 2.3k only for brand new FYI

 

 

wonder whats with the significant difference

 

 

Lancer Glx from C&C 2.3k , don't forget if you take NTUC they'll only allow you to claim repairs at their approved workshops instead of C&C workshop. If you insist then only a quoted amount will be permitted to you for repairs at C&C for claim. If you don't do at C&C then your warranty might be void also

 

 

True...If you are buying a brand new car from the distributor then better get insurance from them because their warranty have to go back to their own workshop. Even after the first year, you want your warranty to be valid then must ask for any workshop scheme because companies like NTUC has an agreement with its workshops that they will only use 2nd hand parts. Thats why its cheaper...

 

And females are normally quoted cheaper because they too kiasi...won't try to outrun other cars (at least most of the time)

[Dino Bravo]

24 year old quoted 2.3k only for brand new FYI

 

Lancer Glx from C&C 2.3k , don't forget if you take NTUC they'll only allow you to claim repairs at their approved workshops instead of C&C workshop. If you insist then only a quoted amount will be permitted to you for repairs at C&C for claim. If you don't do at C&C then your warranty might be void also

 

24yr old 2.3K insurance, which company is it? NTUC?

How come mine is 4.1K.

This i don't understand... Does the 24yr old have any NCD? Does he have more driving experience? maybe thats the difference?

If his situation is the same as mine, then i don't see how come there's a big difference.

 

BTW, I got a quote directly from NTUC. and also a quote from the dealer for NTUC. both parties gave me same quotation. So i believe the info is accurate.

I would like to understand more about insurance related matters for cars.

I've ridden bikes for the past 6yrs, and i know how the insurance system works. but i'm not so sure for cars as there some difference compared to bikes.

[paperger85]

24yr old 2.3K insurance, which company is it? NTUC?

How come mine is 4.1K.

This i don't understand... Does the 24yr old have any NCD? Does he have more driving experience? maybe thats the difference?

If his situation is the same as mine, then i don't see how come there's a big difference.

 

BTW, I got a quote directly from NTUC. and also a quote from the dealer for NTUC. both parties gave me same quotation. So i believe the info is accurate.

I would like to understand more about insurance related matters for cars.

I've ridden bikes for the past 6yrs, and i know how the insurance system works. but i'm not so sure for cars as there some difference compared to bikes.

 

pm me, i'll give you my contact number and i can tell you all about car insurance that you wanna know.

 

btw, i was previously working in a motor insurance agencies and yes, i've quoted for alot of different car dealers before.

[Yongster]

True...If you are buying a brand new car from the distributor then better get insurance from them because their warranty have to go back to their own workshop. Even after the first year, you want your warranty to be valid then must ask for any workshop scheme because companies like NTUC has an agreement with its workshops that they will only use 2nd hand parts. Thats why its cheaper...

 

And females are normally quoted cheaper because they too kiasi...won't try to outrun other cars (at least most of the time)

1stly, when u choose to get from agent / distributor (eg C & C, Borneo), u will have to get insurance from them for the first year as it is a tied down scheme with the insurer. You dun have a choice.... Only after the first year then are u allowed to switch insurer... 2ndly, switching insurer does not void yr warranty so be it what insurer u use, yr warranty is still valid..... anywork shop scheme allows you to go back to the agent / distributor or any other workshops you prefer for your repairs when u met with an accident... even if you don't go back to agent / distributor for repairs, it doesn't mean your warranty will be void...... 3rdly, NTUC does not have an agreement with their workshops.... The workshops are just authorised workshops of NTUC and does not belong to them... Some of these workshops are authorised workshops of several insurers in Singapore...... Lastly, the workshops does not necessary use 2nd hand parts to repair the vehicles... the costs are cheaper due to the cost of workmanship and parts are lower than agent / distributor...... Dun anyhow say if you dun know.....

 

 

There's one thing you got right: female drivers are generally more kiasi.....

[jia_yvon]

How old is your friend?

If your friend was quoted 5K for an integra,

I was quoted 4.1K comprehensive for a lancer 1.6 GLX from NTUC!

I'm 25 with 3.5yrs driving exp.

I settled for Maybank insurance instead, 2.5K same coverage any workshop, $500 excess.

 

Why so much difference?

NTUC has always been my prefered insurer all the while. Ive been with them for the past 6yrs while riding. This time i'm disgusted by the huge difference. Poor man like me gotta settle for cheap insurance.

 

my fren i think is 28-29, driving exp i put 10 yrs.

 

ntuc nowadays premium all very high one.

 

take mazda 5 for example, ntuc quoted mi 2k. n axa quoted mi 1.4k onli. very big difference wor.

[paperger85]

1stly, when u choose to get from agent / distributor (eg C & C, Borneo), u will have to get insurance from them for the first year as it is a tied down scheme with the insurer. You dun have a choice.... Only after the first year then are u allowed to switch insurer... 2ndly, switching insurer does not void yr warranty so be it what insurer u use, yr warranty is still valid..... anywork shop scheme allows you to go back to the agent / distributor or any other workshops you prefer for your repairs when u met with an accident... even if you don't go back to agent / distributor for repairs, it doesn't mean your warranty will be void...... 3rdly, NTUC does not have an agreement with their workshops.... The workshops are just authorised workshops of NTUC and does not belong to them... Some of these workshops are authorised workshops of several insurers in Singapore...... Lastly, the workshops does not necessary use 2nd hand parts to repair the vehicles... the costs are cheaper due to the cost of workmanship and parts are lower than agent / distributor...... Dun anyhow say if you dun know.....

 

 

There's one thing you got right: female drivers are generally more kiasi.....

 

 

Don't believe that NTUC has an agreement to use 2nd hand parts? Take a look at the thread below.

 

http://newpaper.asia1.com.sg/columnists/story/0,4136,170194,00.html?

[GuiNNeSS]

my fren i think is 28-29, driving exp i put 10 yrs.

 

ntuc nowadays premium all very high one.

 

take mazda 5 for example, ntuc quoted mi 2k. n axa quoted mi 1.4k onli. very big difference wor.

 

Only this year then Ntuc preimum quite high ba? previously it's like ok.

 

Btw jia u chging Mazda 5 ah ?

[Yongster]

Don't believe that NTUC has an agreement to use 2nd hand parts? Take a look at the thread below.

 

http://newpaper.asia1.com.sg/columnists/story/0,4136,170194,00.html?

iii) Some, like NTUC Income, have reduced claims payments by requiring workshops to use second-hand, reconditioned parts when repairing cars more than 3years old. The cheaper parts reduce the claims to premiums ratio.

 

Note: cars more than 3 years old

 

The warranty period for most cars are generally 3 years or 100,000 km whichever comes first..... The 2nd hand , reconditioned parts stated above are after 3 years... What you have said is "Even after the first year, you want your warranty to be valid then must ask for any workshop scheme because companies like NTUC has an agreement with its workshops that they will only use 2nd hand parts." So in year 2 and year 3, when yr car is still under warranty, does NTUC Income use 2nd hand parts??

[paperger85]

iii) Some, like NTUC Income, have reduced claims payments by requiring workshops to use second-hand, reconditioned parts when repairing cars more than 3years old. The cheaper parts reduce the claims to premiums ratio.

 

Note: cars more than 3 years old

 

The warranty period for most cars are generally 3 years or 100,000 km whichever comes first..... The 2nd hand , reconditioned parts stated above are after 3 years... What you have said is "Even after the first year, you want your warranty to be valid then must ask for any workshop scheme because companies like NTUC has an agreement with its workshops that they will only use 2nd hand parts." So in year 2 and year 3, when yr car is still under warranty, does NTUC Income use 2nd hand parts??

 

I'm not too sure if the warranty will be void if you go to other workshops for repair but if you repair elsewhere and they replace it, wouldn't your warranty be void as those are not the original parts? To my knowlegde, the warranty only covers original parts.

[jia_yvon]

Only this year then Ntuc preimum quite high ba? previously it's like ok.

 

Btw jia u chging Mazda 5 ah ?

 

ya, ever since 1st of september.. all rise till crazy. LOL.

 

no la.. i juz gt my tus few months back. where gt so fast change car. haha

 

tts my customer's car..

[Yongster]

I'm not too sure if the warranty will be void if you go to other workshops for repair but if you repair elsewhere and they replace it, wouldn't your warranty be void as those are not the original parts? To my knowlegde, the warranty only covers original parts.

Correct... warranty covers original parts.... But you were toking abt 2nd hand parts...... 2nd hand does not equate to non-original parts wat....... 2nd hand can still be original parts just that they are used....... Think you got it all mixed up.....

[paperger85]

Correct... warranty covers original parts.... But you were toking abt 2nd hand parts...... 2nd hand does not equate to non-original parts wat....... 2nd hand can still be original parts just that they are used....... Think you got it all mixed up.....

 

Sighs...in any way, if yours is a distributor's car still under warranty, better get Any Workshop Scheme so that you can go back to the distributor's workshop to get the original parts.

[davidww81]

juz got a getz 1.1 opc. insurance from ntuc cost me $2288

[paperger85]

juz got a getz 1.1 opc. insurance from ntuc cost me $2288

 

you new licence arh??

[MS]

juz got a getz 1.1 opc. insurance from ntuc cost me $2288

 

WHAT?!!!! :faint: How did they rip you off?

[GuiNNeSS]

juz got a getz 1.1 opc. insurance from ntuc cost me $2288

 

Wtf .... LOL