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Things you need to know about car insurance

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Old 27-11-2008, 05:38 PM   #31
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heard that if i never have any compoundable offence, can qualify for COM(certificate of merit) for additional 5% discount for car insurance. is it true? how to go about applying for it huh?
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Old 28-11-2008, 12:18 AM   #32
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heard that if i never have any compoundable offence, can qualify for COM(certificate of merit) for additional 5% discount for car insurance. is it true? how to go about applying for it huh?

To get COM, driver must be free of demerit points in 3 continuous years.
A 5% discount is given by the insurance coy, over and above the No-Claim Bonus (NCB).
COM has nothing to do with compoundable or non-compoundable offences.


Check your entitlement at this link.

https://www.psi.gov.sg/NASApp/tmf/TM...II&Reload=true


If you're entitled to COM, either show the printout to the ins coy, or let them know. They will know how to retrieve the record from EDDIES.
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Old 28-11-2008, 12:40 AM   #33
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HI..

i have question regarding the license experience..

0 to 1 - super super expensive
1 to 2 - super expensive
2 to 4 - quite expensive
more than 4 - safe zone (most insurance company charge lowest rate for 4 years of driving experience, though some company 3rd year will give the lowest rate - eg. OAC under Great Eastern)

if someone is holding 5 years malaysia license, and he convert it to singapore license this year, it is counted as 1 year old new license or 5 years old license?

_________________________________________________________________________________

Any good website whereby you can get calculated insurance price at 1 click and insurance price comparison among dealer?

The Singapore licence will reflect yours was converted from a foreign licence.
The Singapore issue date will be on the licence.
Insurance company will follow that date, so your someone is considered as one-year-old.

There are insurers who have websites allowing you to request for quotations, but none will provide pricings immediately, as the calculations cannot be automatically generated.
They usually reply within 48 hours (except over weekends/PH).
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Old 02-12-2008, 09:03 AM   #34
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To get COM, driver must be free of demerit points in 3 continuous years.
A 5% discount is given by the insurance coy, over and above the No-Claim Bonus (NCB).
COM has nothing to do with compoundable or non-compoundable offences.


Check your entitlement at this link.

https://www.psi.gov.sg/NASApp/tmf/TM...II&Reload=true


If you're entitled to COM, either show the printout to the ins coy, or let them know. They will know how to retrieve the record from EDDIES.
In addition to the "free of demerit points in 3 continuous years.", the driver must have existing 30% NCD before entitle to additional 5%. For example, if he only has 20% NCD, he will NOT be entitled to the additional 5% discount
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Old 03-12-2008, 10:13 PM   #35
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The Singapore licence will reflect yours was converted from a foreign licence.
The Singapore issue date will be on the licence.
Insurance company will follow that date, so your someone is considered as one-year-old.

There are insurers who have websites allowing you to request for quotations, but none will provide pricings immediately, as the calculations cannot be automatically generated.
They usually reply within 48 hours (except over weekends/PH).
I beg to differ.

It is true your licence will be awarded based on the day you convert your licence, i.e. considered as a P plate driver

There is no where on the licence which reflects that you are converted from a foreign licence, I know as I converted mine from Australia licence.

But I am not sure if that is the case due to being a commonwealth country, hence related and recognised.
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Old 05-12-2008, 10:17 AM   #36
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Knowledge updated.
My friend converted his some 25 years back and it has that reflected.
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Old 27-01-2009, 10:47 PM   #37
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Can anyone here roughly provide me a guide/quote?

27 Yrs old, <1 year license, drive in and out singapore to jb on a daily basis, car is a Suzuki Swift 1.5 Auto.

How much the insurance will be?
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Old 27-01-2009, 11:35 PM   #38
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hi if a car is still under loan, can get Third-party, fire theft coverage?
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Old 29-01-2009, 04:15 PM   #39
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1) Does it make a diff if a car is from a parallel importer or authorized dealer?
2) Any diff if the car is a popular model (more on the road) or not popular model (less on the road)?

Cheers...
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Old 31-01-2009, 03:07 PM   #40
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hi if a car is still under loan, can get Third-party, fire theft coverage?
This one entire depends on the insurer.
Some allow, some don't.
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Old 31-01-2009, 03:11 PM   #41
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1) Does it make a diff if a car is from a parallel importer or authorized dealer?
2) Any diff if the car is a popular model (more on the road) or not popular model (less on the road)?

Cheers...

If a car is from parallel importer and is low in model circulation, the spare parts for those models might not be readily available in Singapore, and it might cost more to purchase for accident-related repairs.
Therefore, the insurance premium might be higher.

Cars and models from AD are usually larger in circulation, and due to the economy-of-scale, the spare parts will be more readily available and lower in cost.
Therefore, premium might be lower.
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Old 02-02-2009, 12:24 AM   #42
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Have one question to ask. If my insurance expired in March, is it possible to renew it during February? If i managed to renew it during February, will it expire in Febraury or March next year? Thanks.

Last edited by gamma7sg; 02-02-2009 at 01:53 AM.. Reason: Added more question
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Old 02-02-2009, 09:59 AM   #43
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You can renew for as long as the insurer allow.
Typically it is within 4-5 weeks before the current one expires.
The new expiry date will be as per the current one.
Call your insurer to confirm.
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Old 05-02-2009, 05:44 PM   #44
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Can we have a list of insurers available in singapore?

Allianz Insurance Co of Singapore Pte Ltd
American Home Assurance Co - S’pore
AXA Insurance Singapore Pte Ltd
China Insurance Co (Singapore) Pte Ltd
EQ Insurance Company Ltd
HSBC Insurance (Singapore) Pte Ltd
India International Insurance Pte Ltd
Liberty Insurance Pte Ltd
Lonpac Insurance Bhd
Mayban General Assurance Bhd
Mitsui Sumitomo Insurance (Singapore) Pte Ltd
MSIG Insurance (Singapore) Pte Ltd (formally Aviva General Insurance Pte Ltd)
Nipponkoa Insurance Co Ltd
Overseas Assurance Corporation Ltd
Royal & Sun Alliance Insurance Plc
SHC Capital Ltd
Tenet Insurance Co Ltd
TM Asia Insurance Singapore Ltd

My insurance is ending soon. I heard that india international, china insurance, ntuc are the cheapest available.

Anyone has any others to add on?

Last edited by sg2303; 05-02-2009 at 05:48 PM.. Reason: i just found the list of insurance companies.
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Old 08-02-2009, 11:15 AM   #45
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It depends on the risk classification method used by the insurer. The insurer that offers the lowest rate to your friend may not offer the lowest rate to you. Factors like occupation, age, driving experience, car performance etc determine the risk.

The premium for a new car owner, who'd fall under "young and inexperienced" and outdoor occupation, range from $1800 to a whopping $4000.
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