[General] Insurance!!

[VidaK]

Hi guys, I just checked out the insurance pricing for NTUC and AXA via phone.

 

NTUC - $789.61

AXA - $675.00

 

Im 20 this year, just passed my 2B last week and im going to get Phantom TA200.

Anyone can advise me on what to get?? How come the price difference is so big, 100+ and I heard NTUC is cheaper. Is there any other differences btw them?? or should I just go for the cheaper one. Im also considering settling both the insurence and transfer at the bike shop.

 

Oh, I read in the earlier posts that NTUC will quote a cheaper price if you go down instead of over the phone. I called up, then just came back from NTUC at AMK Hub, was quoted same price for both.

 

Anyone can advise me on what I should do?? or if u have any cheaper insureance alternatives =)

Thanks.

 

if you are very sure of buying a phantom from a shop... by all means... but it is usually more expensive than getting one from a private seller...

 

some would say it is easier to claim from ntuc, others say they aren't really different... it is up to you... ntuc quoted almost twice as much for my other bike...

 

do collect more opinions before continuing with your purchase!

[pikapika82]

NTUC third party

TA 200 FT plate

27 years old

20% NCD

$207

 

Last year was $163. Such a big jump

[kangwei89]

if you are very sure of buying a phantom from a shop... by all means... but it is usually more expensive than getting one from a private seller...

 

some would say it is easier to claim from ntuc, others say they aren't really different... it is up to you... ntuc quoted almost twice as much for my other bike...

 

do collect more opinions before continuing with your purchase!

 

Thanks for the advise. I got my Phantom already =)

 

I bought the insurance from AXA, figured I dont really care what company, cheapest can already.. haha

 

You were right, getting a bike yourself is way cheaper then getting from shop, used the money i saved to service my bike and change tyres. Spent 200+... Sian, but well, Im one happy biker now =)

[ah_pork]

Hi,

 

am going for TP on Jan 14, hope i'll go thru..

Btw wads e current price for Insurance now?

 

Im 29m, chi, class 2B, most prob getting a Phantom.

[Silent Hunter]

Last time I bought 2 years back, when I was 29 at NTUC was $300 plus for fire and theft. Also P-Plater for Phantom.

 

Now should be the close to pikapika82 quote of $207 since under the same category, below 30 years old. But remember you don't have NCD, so prepare $300 for 3rd party to be safe, but you need more if you want to cover fire and theft as well.

[jtzx]

wa.. you guys insurance all so low. my insurance more then $500 still.. 1 year more before i hit the 21yearold guideline. then price will drop.

[Zhi Ming]

Interesting article i found, this is written by an author in UK : http://www.streetdirectory.com/travel_guide/214151/motorcycles/what_does_a_motorbike_insurance_company_base_premium_on.html

 

"An insurance company decides your premium based on these things; your bike, your age, your driving history, your address and your mileage. Your bike is judged on its make, engine and how old it is. A new powerful motor bike will add more to the motorbike insurance than an older basic one. Age is also used as a deciding tool. If you are older the premium is likely to be cheaper as they presume you are more sensible than an eighteen year old. If you are new to motorcycling, however, you may pay a higher premium whatever your age. Your address is checked to see if you live in a high crime area. If so there it is more likely that your bike could be stolen. They also check how accident prone the area is. If so, the motorcycle insurance may increase. Driving history is checked to see how many incidents you have had in the past. A clean licence will get you cheaper insurance whereas a licence with claims will increase the premium. Mileage is checked to calculate the likelihood of an accident to happen. If you use your bike frequently there is more chance of an accident happening. If you ride your bike to work, your job is also checked. If the environment is dangerous like a builders site the insurance will increase.

 

To get a better deal you should research and constantly look for a good deal. By asking many companies, your chances of finding the cheapest motorcycle insurance are greatly increased. Adding extra security can also save you money. Alarms and a safe place to park your bike, like a garageFree Reprint Articles, will lower the premium. Taking additional driving lessons can help also. The special DMV and others adds driving experience making insurance cheaper. Over insuring is not needed. The insurer will only repay the bikes market value if there is an accident. If possible lower the mileage as this again lowers bike insurance"

 

1) Why would a new bike cost more to insure then an old bike if they are of the same model ?

 

2) Checking of mileage? lol i am quite sure in sg we dont have right...

[bluesurfer]

if you are very sure of buying a phantom from a shop... by all means... but it is usually more expensive than getting one from a private seller...

 

some would say it is easier to claim from ntuc, others say they aren't really different... it is up to you... ntuc quoted almost twice as much for my other bike...

 

do collect more opinions before continuing with your purchase!

 

actually, weather hard or ez to claim if u r getting 3rd party its not your problem anymore right? since the one claiming isnt you

[Zhi Ming]

got this from car forum at HWZ; http://forums.hardwarezone.com.sg/showthread.php?t=2650345

 

I just received a renewal notice from NTUC car insurance and I'm very shock to see that my premium has increased by $500 since last year.

 

Last year, I paid $1800 and that was after 10% NCD. It was supposed to be less than that, but they said, they had a 20% increase across the board that makes my premium goes up regardless of my 10% NCD.

 

This year, they are billing me for $2300 after 20% NCD, eventhough I don't have any accident claim, but my premium still increases. I called them up and asked them about this increase, and they give me the same reason as this year. "We have 40% increase across the board"

 

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Jialat liao , this year insurance gonna be painful !

[hailang_82]

This is for Motor car insurance... For motorbike.. the satistics shld be different but still uptrend...

[Firedragon]

I just re-new my insurance last week as follows:

 

NTUC third party

TA 200 FX plate

27+ years old

0% NCD

$258 + road tax $64 = $322

[mepkoh]

just bought x1 2005

experience more than 30 years riding..

no NCD

$180..

6 mohths ago with a 5 year cub.. $158..

 

15% increase already..

[duatau]

just wondering can i ask ntuc to prepare my insurance thru their 24hrs hotline, or they are able to do it during their office hours.

[wesone3]

just wondering can i ask ntuc to prepare my insurance thru their 24hrs hotline, or they are able to do it during their office hours

 

takes less then 10 min if there's no queu..at their outlets..tamp outlet usually quite fast..as long as it's not during lunch hour..

[duatau]

takes less then 10 min if there's no queu..at their outlets..tamp outlet usually quite fast..as long as it's not during lunch hour..

 

thanks, went down 1st thing in the morning. straight away got ppl serve me. ver fast.

[ah_pork]

Yeps, now hav to settle my Insurance for Phantom 200

Am 29 y.o, 2B, 1st time rider... btw wad is:

 

- 3rd party advisable mey? tot SSDC tell us better get 2nd party?

- Simi is NCD? must buy mey? saw some1 quoted "0% NCD"?

 

TIA

[kmjoe]

yea, 2nd party is better than 3rd...

2nd party consist of fire and theft + 3rd party

3rd party only 3rd party

but the price is different, for my case... 3rd party 577, 2nd party 700+

up to u to choose, if u tink ur bike will kena stolen or kena burn den get 2nd if not juz save the money n get 3rd

[zpjohnny]

regarding this NCD, may i ask, example this first year i buy from sumitomo insurance no accidents nor claims, 2nd year i change to a new insurance company, restart counting of NCD's ? or can brought forward from sumitomo ?

[armani123sg]

regarding this NCD, may i ask, example this first year i buy from sumitomo insurance no accidents nor claims, 2nd year i change to a new insurance company, restart counting of NCD's ? or can brought forward from sumitomo ?

 

can be brought forward... like i from ntuc i wanna change to axa, i have to bring my renewal letter from ntuc to e axa office, it states the 10% NCD in the letter...

[ahgene89]

hi guys may i ask if i am 21 this yr but birthday haven over how much for insurnce p plate .. thanks ~~guys cheers !

[kmjoe]

call the insurance company for a quote, if axa sld be 577 for 3rd pt, n 700++ for fire and theft if im not wrg

[arjen]

Insurance are so horribly inflated now.

 

I just casually check with my motor shop, It'll cost $380 3rd Party for me.

 

While it cost me $280 6 years ago while I'm still on PPlate!

[Zhi Ming]

hmmm , insurance prices dropped a lot for me...

 

24 , 2 years experience on same FU-plate phantom

 

last year was $408 , this year is only $255

 

NCD FTW !

[Pandoras Kitten 3]

The joys of maturity; eventually I can have various bikes downstairs in various states of disrepair ie DIY work lol.

[jtzx]

just renew my insurance.. From $745 1 year ago..

 

and present $642.20 only.. from NTUC

 

Now heart pain liao ;(