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Old 12-02-2009, 12:47 AM   #61
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3) Job occupation (Indoor/Outdoor) This refers to the nature of work, like desk bound or sales

Indoor - cheaper
Outdoor - more expensive
So far, I have only heard of a company that charge the same rate for indoor and outdoor occupation as of Oct 2008. It's Mitsui Sumitomo.
Do note that MSI and MSIG are 2 different companies even though both have "Mitsui Sumitomo" in the name. How the both are linked, I have no clue.



6) Safe Driver Discount This is an additional 5% discount if you do not have any traffic offense or demerit point for the past 2 years. You only get this additional 5% when you have minimum 30% NCB.

For example, your car insurance cost $2000 (before NCB) and you have 30% NCB and safe driver discount, you premium would be $1391 {[2000 - (2000 * 35)] * 1.07} with GST.
p
I think this one should be $1,423. Do correct me if i'm wrong. +-$5 due to rounding.

$2000
0.7 * (30% NCD)
---------
$1400
0.95 * (5% SDD/OFD)
---------
$1330
1.07 * (7% GST)
---------
$1423.10 premium payable

NTUC does not offer SDD/OFD.

Last edited by Techno Pride; 12-02-2009 at 01:02 AM..
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Old 13-02-2009, 05:15 PM   #62
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Will getting an OPC lower insurance Premium?

"Since OPC wont be on the road as much as normal plates car"
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Old 13-02-2009, 06:51 PM   #63
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who can we approach to buy the policy and also where can we compair the prices from different vendors?
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Old 14-02-2009, 02:08 PM   #64
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who can we approach to buy the policy and also where can we compair the prices from different vendors?
You can approach brokers. There're some online car insurance portals, i think. They'd need some personal information from you to generate quotations.

Or you can call up the insurers directly to get quotes, if you prefer to do your own comparison.

Will getting an OPC lower insurance Premium?

"Since OPC wont be on the road as much as normal plates car"
Some companies do offer discounts on OPC. Not all.
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Old 15-02-2009, 08:45 AM   #65
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Okay great! Thx..
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Old 15-02-2009, 08:54 AM   #66
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Okay great! Thx..
Yes, NTUC Income car insurance does give discount for OPC.
My veh insurance taken from them..
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Old 15-02-2009, 08:57 AM   #67
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If i am not wrong, the insurance will sell you third party insurance as long as you wish to do so. It does not matter to them if your car is paid up or not.

Hoever, it does matter to the bank / finance company. It is usually the finance company that wants to get a comprehensive coverage. I have yet to come across one finance company that dun need comprehensive coverage. If you know of any, pls let me know. Thinking of changing car le
i don't think anyone will also wanna take a risk.. imagine u buy a new car, u take only 3rd party cover.. then got stolen.. then good luck to you.. no car to drive, still have to service car loan for 10 years
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Old 15-02-2009, 10:14 AM   #68
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Yes, NTUC Income car insurance does give discount for OPC.
My veh insurance taken from them..
noted Thx.
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Old 16-02-2009, 05:45 PM   #69
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Does NCB "expire"
i got 40% with NTUC 3yrs back when i was still driving
haven't been driving but now thinking of buying car again...
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Old 16-02-2009, 06:22 PM   #70
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Yes, 2 years from last recorded date of policy expiry.
But can always call up the insurer to make exceptions, subject to low possibility of approval.
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Old 17-02-2009, 09:59 PM   #71
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Hi ,

I got a quote from DBS (think the insurer is Aviva). It quoted me at $1600+ while other insurers were quoting me at $2000+.

Has anybody insured with aviva before and what is the experience. Why are they much cheaper than AIG/HSBC/NTUC etc?

Finally, I had a small accident in Jan 09(400+ claim). Trying to do third party claim but have to repair under own insurance first. Will there be any draw backs if I try to switch insurer before this claim is settled?
Thanks.
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Old 18-02-2009, 12:05 AM   #72
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Hi ,

I got a quote from DBS (think the insurer is Aviva). It quoted me at $1600+ while other insurers were quoting me at $2000+.

Has anybody insured with aviva before and what is the experience. Why are they much cheaper than AIG/HSBC/NTUC etc?

Finally, I had a small accident in Jan 09(400+ claim). Trying to do third party claim but have to repair under own insurance first. Will there be any draw backs if I try to switch insurer before this claim is settled?
Thanks.

You trying to claim 3rd party for $400+ repair works? You're joking?
Did you consult anyone about your case?
But seriously, such situation should just settle privately and finish with it, close the case. By filing claims for such paltry sum, you'll be dragging the story forever between the 2 insurers.
The legal expenses alone is more than that.

What is your car's insurance excess amount, above or below this $400+ pending claim?
Either amount, it doesn't justify your wanting to claim 3rd party.
Even if you claim for 1st party, the insurer will decline your claim if your policy excess is more than this $400+ claim amount.

You might want to clarify my guesses and set the facts straight on the accident circumstances, repairs to be done, and if you have the option to settle privately.

Did you declare this accident to your current insurer? and to DBS (Aviva)?
Because it will go either way:

1. Current insurer. If you did not report the accident, and you do claim the $400+ repair work, the insurer can choose not to honour the claim in accordance to contractual agreement (failure to report to workshop for accident within 24 hours), they can choose to prejudice your claim and deduct your NCD. Read your policy contract.

2. DBS (Aviva). If you did not declare to them your pending intention to claim for accident repairs, and they later find out about it, they can choose to void your contract on the basis of non-disclosure of facts.


For a new quote of $1.6K vs other quotes of more than $2K, its a good buy, but insurance policies (and their benefits) cannot be compared simply on premium alone.
Each policy contract should be placed next to one another for accurate comparisons.

It would take many more forumers to give feedback on your concerns.

Last edited by CNGpicnic; 18-02-2009 at 12:11 AM..
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Old 18-02-2009, 07:32 AM   #73
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You trying to claim 3rd party for $400+ repair works? You're joking?
Did you consult anyone about your case?
But seriously, such situation should just settle privately and finish with it, close the case. By filing claims for such paltry sum, you'll be dragging the story forever between the 2 insurers.
The legal expenses alone is more than that.

What is your car's insurance excess amount, above or below this $400+ pending claim?
Either amount, it doesn't justify your wanting to claim 3rd party.
Even if you claim for 1st party, the insurer will decline your claim if your policy excess is more than this $400+ claim amount.

You might want to clarify my guesses and set the facts straight on the accident circumstances, repairs to be done, and if you have the option to settle privately.

Did you declare this accident to your current insurer? and to DBS (Aviva)?
Because it will go either way:

1. Current insurer. If you did not report the accident, and you do claim the $400+ repair work, the insurer can choose not to honour the claim in accordance to contractual agreement (failure to report to workshop for accident within 24 hours), they can choose to prejudice your claim and deduct your NCD. Read your policy contract.

2. DBS (Aviva). If you did not declare to them your pending intention to claim for accident repairs, and they later find out about it, they can choose to void your contract on the basis of non-disclosure of facts.


For a new quote of $1.6K vs other quotes of more than $2K, its a good buy, but insurance policies (and their benefits) cannot be compared simply on premium alone.
Each policy contract should be placed next to one another for accurate comparisons.

It would take many more forumers to give feedback on your concerns.

Actually my own repairs came up to 1000+ and what I mentioned was the amount less the excess that I was supposed to be paying.
Also the accident was a 50-50 case with a Taxi who was trying to claim repairs , loss of income etc from me.
So thought it would be much easier to file claims with our insurer and try do a third party claim esp since I have no NCD.

Actually, would like find out more on the Aviva contract and any personal experience esp since it is much cheaper than the others.
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Old 20-02-2009, 02:17 PM   #74
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Does NCB "expire"
i got 40% with NTUC 3yrs back when i was still driving
haven't been driving but now thinking of buying car again...
The NCD can salvage. but nt fully. Better than none right? haha
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Old 25-02-2009, 09:28 PM   #75
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Any feedbacks on AXA motor insurance? When claiming any difficulties?
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