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Things you need to know about car insurance

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Old 25-03-2009, 03:17 PM   #91
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i paid for my friend's repairs as it was very minor dent on bumper, the other party's car was only damage to his bumper and bonnet and yet he make a claim of 3.5k.....
Depends on where the other party bring his car for "repair". Some workshop will change every damn thing that they can - even for the smallest dent. Saying for safety sake must change whatever. That's why only 3 out of 25 motor insurance companies do not make a LOSS last year. Find the business times article here
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Old 25-03-2009, 09:23 PM   #92
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ya he did, he bring his car to his "so call" workshop which change every damm thing. worse of all its a old nissan sunny.



Depends on where the other party bring his car for "repair". Some workshop will change every damn thing that they can - even for the smallest dent. Saying for safety sake must change whatever. That's why only 3 out of 25 motor insurance companies do not make a LOSS last year. Find the business times article here

Last edited by KeijiGenesis; 25-03-2009 at 09:25 PM..
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Old 28-03-2009, 11:17 AM   #93
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Hi all,

I'm 27 years old and looking to buy my first car. I have more than 5 years driving experience. I'm currently looking to get either a new small car (eg. Hyundai Getz) or an old '92 Honda Civic.

Insurance wise, which is more expensive? The new Getz which is lower cc? or the old higher cc car? Can someone give me an estimated price range for basic insurance?

Also, you've been talking about 3rd party insurance, meaning i'll also be covered if someone else drives my car. So there's the other type of insurance that only covers the car owner? Is that significantly cheaper?

Hope u guys can help me out, blur sotong here. Thks!
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Old 28-03-2009, 12:58 PM   #94
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Hi all,

I'm 27 years old and looking to buy my first car. I have more than 5 years driving experience. I'm currently looking to get either a new small car (eg. Hyundai Getz) or an old '92 Honda Civic.

Insurance wise, which is more expensive? The new Getz which is lower cc? or the old higher cc car? Can someone give me an estimated price range for basic insurance?

Also, you've been talking about 3rd party insurance, meaning i'll also be covered if someone else drives my car. So there's the other type of insurance that only covers the car owner? Is that significantly cheaper?

Hope u guys can help me out, blur sotong here. Thks!

No opinions about your first set of queries.

You might have got a misconception about 3rd party insurance coverage.

Car insurance involves 3 parties:
The owner/driver of the insured car/person (1st party),
The insurer (2nd party),
The other party involved in the accident, which can be a person or a vehicle (3rd party).

If you're the owner/insured of the car insurance, and you nominate another person to drive the car, that person is called the "authorised driver" and not "3rd party".

For some insurance policies, anyone you give permission to drive is considered an "authorised driver" and they will be covered by the policies.
For some other insurance policies, you must let the insurers know the names of the authorised drivers and only they are allowed to drive the car with insurance coverage.

There are 3 types of car insurance coverages available:
- Comprehensive,
- 3rd party, fire & theft,
- 3rd party only.

Comprehensive says it all, covers a lot of things, including own damage, loss of car due to fire hazard, theft of vehicle, and 3rd party liabilities (damage to 3rd party property and/or injuries inflicted during accident, etc.).
Premium is the highest of the 3 types.

3rd party, fire & theft only covers liabilities to 3rd party, fire hazard, and theft of vehicle. It does not cover expenses incurred for own damage.
Premium is lower than comprehensive cover.

3rd party only covers 3rd party liabilities. Nothing else.
Premium is very low for such coverage.

For most insurance companies, they will insist on comprehensive coverage if the car is less than 7 years old, and under hire purchase agreement (loan).
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Old 28-03-2009, 08:08 PM   #95
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just a slight correction. The insurer doesn't care if you buy 3rd party only for a new car. It's your financing compny that may or will make noise.

if you have loads of cash to pay off the loan after an own-damage total loss to the car or theft, by all means go ahead.

Last edited by Techno Pride; 28-03-2009 at 08:14 PM..
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Old 28-03-2009, 09:20 PM   #96
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No opinions about your first set of queries.

You might have got a misconception about 3rd party insurance coverage.

Car insurance involves 3 parties:
The owner/driver of the insured car/person (1st party),
The insurer (2nd party),
The other party involved in the accident, which can be a person or a vehicle (3rd party).

If you're the owner/insured of the car insurance, and you nominate another person to drive the car, that person is called the "authorised driver" and not "3rd party".

For some insurance policies, anyone you give permission to drive is considered an "authorised driver" and they will be covered by the policies.
For some other insurance policies, you must let the insurers know the names of the authorised drivers and only they are allowed to drive the car with insurance coverage.

There are 3 types of car insurance coverages available:
- Comprehensive,
- 3rd party, fire & theft,
- 3rd party only.

Comprehensive says it all, covers a lot of things, including own damage, loss of car due to fire hazard, theft of vehicle, and 3rd party liabilities (damage to 3rd party property and/or injuries inflicted during accident, etc.).
Premium is the highest of the 3 types.

3rd party, fire & theft only covers liabilities to 3rd party, fire hazard, and theft of vehicle. It does not cover expenses incurred for own damage.
Premium is lower than comprehensive cover.

3rd party only covers 3rd party liabilities. Nothing else.
Premium is very low for such coverage.

For most insurance companies, they will insist on comprehensive coverage if the car is less than 7 years old, and under hire purchase agreement (loan).
thks so much for the help i can understand a lot better now! So for the same car, there is a huge difference in cost btw comprehensive and 3rd party only insurance? Anyone hav any rough figures just for comparison?
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Old 31-03-2009, 10:34 PM   #97
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I think buying 3rd party insurance only is very risky, you would have to pay for your own repairs... can cost quite a lot...
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Old 30-05-2009, 11:04 AM   #98
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i planning to buy honda civic esi 4M how much does it cost for my insurance? my age is 22. just got my licence 2 months back and i am a guy. my working place is indoor. please assist me thanks.
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Old 30-05-2009, 11:59 AM   #99
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try the online car insurance brokers. i'm not an insurance broker but can tell you it will be very high, like around $4000 at least. you might be declined by some insurance companies due to your age and driving experience.
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Old 31-05-2009, 04:10 PM   #100
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i planning to buy honda civic esi 4M how much does it cost for my insurance? my age is 22. just got my licence 2 months back and i am a guy. my working place is indoor. please assist me thanks.
Think the only one that's willing to quote you is NTUC. This is because you are a extremely young driver and with only 2 months of experience. Good luck and let us know how much is ur insurance =)
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Old 07-06-2009, 01:31 PM   #101
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A quick qn. For a fully paid off 2008 car, will buying TPFT/TPO affect market value of the car? I've heard that once TPFT is bought on a car, there'll be difficulty buying Comprehensive in future? Might have difficulty selling off the car in future.
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Old 08-06-2009, 11:10 PM   #102
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A quick qn. For a fully paid off 2008 car, will buying TPFT/TPO affect market value of the car? I've heard that once TPFT is bought on a car, there'll be difficulty buying Comprehensive in future? Might have difficulty selling off the car in future.
Think it wun make any differences if you get a 3rd party. Insurance company will sell you 1st party as long as the car is not too old. As for resale value, i really dun think it matters. Any bro got 2nd hand car dealer fren to share?
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Old 17-06-2009, 10:51 AM   #103
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i planning to buy honda civic esi 4M how much does it cost for my insurance? my age is 22. just got my licence 2 months back and i am a guy. my working place is indoor. please assist me thanks.
it wil be v expensive, y dun u buy under ur parent's or something? when im 22 buy honda civic driving exp 3yrs, my quote from NTUC was 3.2k, this yr went up to 4.1k. i found an online car insurance broker managed to get 2.5k must shop around.
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Old 25-06-2009, 03:00 PM   #104
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I think buying 3rd party insurance only is very risky, you would have to pay for your own repairs... can cost quite a lot...
if your car is more then 10 years old, companies dont offer comprehensive anymore.
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Old 25-06-2009, 05:27 PM   #105
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therefore it is risky to drive a car older than 10 yrs old
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