Things you need to know about car insurance

paperclip1

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Excess will refers to the cash amount that the car owner must pay the workshop 1st before repair can start. This is because this amount will not be covered by the insurance company.

For example, if a person's insurance excess is $500 and he met with a car accident.

When he goes to the car workshop, he will need to pay $500 before the workshop start to repair his car. The insurance company will be notified and his NCD will be reduced by 30%. After the car is repaired and the insurance company has finished the investigation, the insurance company will then decided if it wants to return the excess ($500) to the owner.

If the owner is not at fault, the insurance company will return the full excess ($500)
The insurance company will also restore the original NCD of the driver before the accident.

If the owner is at fault or partial at fault, the insurance company will not return his excess.
His NCD will not be re-instore.

Hence, please ensure that you do not have a crazy amount of NCB (>$1000) in your insurance policy just because you want to save a bit on car insurance. It's not worth it.

Hope it helps.

Hi, thanks for the information :)
when u mentioned about "not to have a crazy amount of NCB....to save a bit on car insurance", does it mean that the higher the NCB, the lower the excess?
 

-EnZo-

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Age 20.
Just got licence.

WOOOT !! NTUC QUOTE ME 5.3k! Freaking insane ?!:s22:
 

-EnZo-

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For OPC car, the recommended plan is China Insurance (OPC) plan and it comes with an excess of $450

Upon accident, your car will be repair at NTUC workshop

The premium is $3,756.13 with GST.



I would also recommend NTUC Drivo Classic Plan (OPC) and it comes with excess of $500

Upon accident, your car will be repair at NTUC workshop

The premium is $3,896.01 with GST.



(1) Additional Excess - $500 $3,584.33

(2) Additional Excess - $500 $3,428.49

(3) Additional Excess - $1500 $3,311.61



For normal plate car, the recommended plan is NTUC Drivo Classic Plan and it comes with excess of $500

Upon accident, your car will be repair at NTUC workshop

The premium is $5235.92 with GST.



(1) Additional Excess - $500 $4,817.04

(2) Additional Excess - $500 $4,607.61

(3) Additional Excess - $1500 $4,450.53



If you decided to get any of the above plan, we will give you a rebate between $100 to $150 depending on the plan you take.

In addition, we also give you a free street directory.

For info to anyone who wana buy new car and if ur around 20 and just got ur licence?(Parents dont drive) think again. this is the quote i get from sgcarinsurance.net .

Car model : Kia picanto
Age : 20 / P-plate
Date of issue licence : 25th sep:s16:
 

Milner_24

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guys wana to clear something up....

i am thinking of buying a second hand car but want to put my GF father(20yr driving exp) as the insurer.

does this works?

1) do i need to put her father as the owner of the car?

2) if i or my gf drive, will we be cover under the insurance?

what does this type of insurance call?

tks tks
 

Beta_Tester

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) Driving Experience This refers to how long did you get your driving license and has nothing to actual driving experience. This is measured in number of years

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)

Basket the other time ppl tell me is counted as the actual driving experience.. :s27:
 

ahgua1

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if i have less than 1 year driving license and 23 years old. how much will be the insurance?

my ride is 1.3 fit 2008
 

arianwen

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guys wana to clear something up....

i am thinking of buying a second hand car but want to put my GF father(20yr driving exp) as the insurer.

does this works?

1) do i need to put her father as the owner of the car?

2) if i or my gf drive, will we be cover under the insurance?

what does this type of insurance call?

tks tks

1) yes, if your gf's dad is the name (or policyholder) for the insurance, he will have to be the car owner. Or simply, the insurance will be under the car owner.

2) yes, both will be covered as long as both are authorized by the owner, which is ur gf's dad to drive the car. just that there will be higher excess should there an own damage claim. For third party claim, no diff.

All cars under hire purchase will have to buy a comprehensive cover.
Hope i am correct for all the above :D
 

arianwen

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if i have less than 1 year driving license and 23 years old. how much will be the insurance?

my ride is 1.3 fit 2008

it depends on diff company...
for my, im 26, < 1 yr driving experience, honda fit . opc.

i got it at 2.3k from ntuc income at 2000 excess.

axa quoted me > 3k !!! :s27:

You can try sourcing ard la. but i think for our age and band, only the big insurers will be willing to "take the risk" and insure us.
 

qintian

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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?
 
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mryongtan

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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?
 

CNGpicnic

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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/TMFServlet?app=SPF-PTD-EDDIES-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.
 

CNGpicnic

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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).
 

X66

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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/TMFServlet?app=SPF-PTD-EDDIES-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
 

cktandrew

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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.
 

CNGpicnic

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Knowledge updated.
My friend converted his some 25 years back and it has that reflected.
 

serious_sam

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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?
 

jerryhke

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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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