Things you need to know about car insurance

veggeloo

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Hi All

I was advised by an agent to include NCD Protector when renewing my insurance.
From what I understand from the 1st post, NCD Protector is only
effective when I want to renew the policy with the same insurance company.
What happens if I renew with another insurance company and I included NCD Protector in this policy and during the coverage period I
got involved in an accident. Will my NCD be protected ? Currently, my NCD is 50% + 5%.

Thank you.

Hi rafzaur,
I believe that you can still claim under your own insurer and have your NCD protected, if it has been included in the policy. Nonetheless, I would confirm with my agency again and get back to you. Cheers!
 

X66

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Hi All

I was advised by an agent to include NCD Protector when renewing my insurance.
From what I understand from the 1st post, NCD Protector is only
effective when I want to renew the policy with the same insurance company.
What happens if I renew with another insurance company and I included NCD Protector in this policy and during the coverage period I
got involved in an accident. Will my NCD be protected ? Currently, my NCD is 50% + 5%.

Thank you.

Hi Rafzanur, if you purchase an NCD protector with company A and had 1 accident. Upon the next renewal, you will still get 50% NCD if you renew with company A. However, if you decide to renew with company B, then you will renew with 20% NCD.

Please note the NCD protection only applies to the company that you signed up with and it does not across all other insurance companies like NCD.

I hope this will answer your question.
 

X66

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I have a question. For a company car, normally, what would their insurance be like? eg. named driver or unnamed driver. My dad is driving a company car, and when i want to drive it, he forbids me always as he says the car insurance does not insures 'any driver'. :(

Hi Bobonbibi,

When you mention company car, do you mean van, lorry or saloon car?

For commercial vehicles like van & lorry, there is no named driver or unnamed driver. The insurance is quoted based on the vehicle type, the nature of business of the company, the cc, year of manufacture, the max laden weight etc etc.

If your dad's company car is a private saloon car, then there a named driver. However, it does not mean that you are not covered if you were to drive the car. You will be covered with a higher excess, depending on your age and driving exp. If you just pass your driving license or below 21, then the additional excess will be extremely high and hence that's why you dad do not want you to drive.


Hence I feel that your dad do not want to drive the vehicle, as he may get scolding from his boss if he finds out you are driving the company car. Or if he is the owner, he just worried that his insurance premium will go up in the event of you having an accident.
 
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rafzanur

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Hi Rafzanur, if you purchase an NCD protector with company A and had 1 accident. Upon the next renewal, you will still get 50% NCD if you renew with company A. However, if you decide to renew with company B, then you will renew with 20% NCD.

Please note the NCD protection only applies to the company that you signed up with and it does not across all other insurance companies like NCD.

I hope this will answer your question.

Hi X66
Just to clarify again, the NCD protector is only valid for 1 accident only ?
What if I got involved in more than 1 accident? Will my 50% NCD still be protected ?

I'm getting mixed feedbacks about this NCD protector option. What is your advice ?

Thank you.
 

X66

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Hi X66
Just to clarify again, the NCD protector is only valid for 1 accident only ?
What if I got involved in more than 1 accident? Will my 50% NCD still be protected ?

I'm getting mixed feedbacks about this NCD protector option. What is your advice ?

Thank you.

Yes, NCD protector is only valid for one accident. I hope the following example will be able to illustrate to you better.

Scenario 1: 2 Accidents within 1 policy year, sign up with company A, renew next year insurance with company A.

1st Accident: NCD remains at 50%
2nd Accident: NCD drops to 20%


Scenario 2: 2 Accidents within 1 policy year, sign up with company A, renew next year insurance with company B.

1st Accident: NCD drops to 20%
2nd Accident: NCD drops to 0%

Hope this will illustrate better =)
 

X66

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Hi X66

I'm getting mixed feedbacks about this NCD protector option. What is your advice ?

Thank you.

Different people has different needs so it's difficult to say which is right and which is wrong. At the end of the day, it is what suits you best that matters.

Nevertheless, this is what I will do if I were you.

If the additional cost of NCD protection (I suppose about $90?) does not burn a hole in my pocket, then I will go for it.

If my car is an off peak car or I seldom drive, i will just take the chance and go without the NCD protector.

Like I mention, this is what I will do if I were you. There are bound to be people who says what I do is wrong, stupid etc. Just ignore what they says and do what is best for yourself. =)
 

PC

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Going to renew mine soon. NTUC is really getting expensive, send me renewal notice, quote $1414 for the most basic plan. I got online quote for MSIG at $1004 with a free $60 cashcard. That's $400+ difference, a ridiculous 30%, can pay 6 months road tax.

Both excess $500, MSIG is better with own choice of workshop, NTUC only their authorized workshop. MSIG can pay by 0% installment, I wonder what's the benefit of getting NTUC now...
 

X66

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Going to renew mine soon. NTUC is really getting expensive, send me renewal notice, quote $1414 for the most basic plan. I got online quote for MSIG at $1004 with a free $60 cashcard. That's $400+ difference, a ridiculous 30%, can pay 6 months road tax.

Both excess $500, MSIG is better with own choice of workshop, NTUC only their authorized workshop. MSIG can pay by 0% installment, I wonder what's the benefit of getting NTUC now...

The premium for NTUC increased for most model. That's why NTUC is more expensive now. To be fair, NTUC still charge cheaper insurance premium for a few model. So it depends on whether your car is that few model or not.
 

PC

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The premium for NTUC increased for most model. That's why NTUC is more expensive now. To be fair, NTUC still charge cheaper insurance premium for a few model. So it depends on whether your car is that few model or not.

So far don't know any model that NTUC is cheap, keep hearing complains only. Mine just a latio.
 

IIIUSION

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Hi all, how can I get an insurance quote without a vehicle plate no. as sgcarinsurance.net insists on one.

Male: 29
Licence: < 1yr
Car: 2nd hand Picanto OPC
 

excloc

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Hi all, how can I get an insurance quote without a vehicle plate no. as sgcarinsurance.net insists on one.

Male: 29
Licence: < 1yr
Car: 2nd hand Picanto OPC

If you are buying a second hand car, you can quote the former car plate. Just remember to let the agent know that was the previous car plate, we need that to know the cc and other specs of the car from LTA.

btw, if your licenceis less than 1 year, I would advise you to register the car under your parents name or your insurance would be super expensive. Also only NTUC income insure for owners with less than 1 year experience
 
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IIIUSION

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If you are buying a second hand car, you can quote the former car plate. Just remember to let the agent know that was the previous car plate, we need that to know the cc and other specs of the car from LTA.

btw, if your licenceis less than 1 year, I would advise you to register the car under your parents name or your insurance would be super expensive. Also only NTUC income insure for owners with less than 1 year experience

Yea, I heard the premiums are ridiculous for my case. Pity my parents don't have licences...Not much I can do now :(
 

bobobibi

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Hi Bobonbibi,

When you mention company car, do you mean van, lorry or saloon car?

For commercial vehicles like van & lorry, there is no named driver or unnamed driver. The insurance is quoted based on the vehicle type, the nature of business of the company, the cc, year of manufacture, the max laden weight etc etc.

If your dad's company car is a private saloon car, then there a named driver. However, it does not mean that you are not covered if you were to drive the car. You will be covered with a higher excess, depending on your age and driving exp. If you just pass your driving license or below 21, then the additional excess will be extremely high and hence that's why you dad do not want you to drive.


Hence I feel that your dad do not want to drive the vehicle, as he may get scolding from his boss if he finds out you are driving the company car. Or if he is the owner, he just worried that his insurance premium will go up in the event of you having an accident.

i see. It's a van anw. means it has no named or unnamed driver. meaning anyone drives it can get paid by insurance??
 

i1magic

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Hi all, how can I get an insurance quote without a vehicle plate no. as sgcarinsurance.net insists on one.

Male: 29
Licence: < 1yr
Car: 2nd hand Picanto OPC

Hi,

You can google "car insurance quote online" and click on :

http://motorinsurancequotes.sg

To get quotes.

But since your license is <1yr ... be prepared for premium about $2.5K-$3K.
 

i1magic

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i see. It's a van anw. means it has no named or unnamed driver. meaning anyone drives it can get paid by insurance??

For commercial ... yes.

But they do have specific clauses which states :

EYIDR = Elderly / Young / Inexperience Driver Restriction

Elderly - 70yrs old & above
Young - < 26yrs old
Inexperience - Most insurer .. license passed < 2yrs ... some < 1yr

Normally ... for the EYIDR category ... additional excess will applies ..
eg. $2K on top of basic excess ... some is $2.5K ... some is $3K ...
and some even $5K.
 

veggeloo

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