SushiFan

cos we never heard of the insurance company you mentioned at all ha ha ha... insurance companies in .sg are quite standard, mostly the big players.... and the local NTUC brand.

morganoh

Yes of cos, I hav 756 posting in the forum.

Do I know u?

simply8

yes and no................his 8 is different........have gul wings, can fly wan!

SushiFan

nope, but I'm just trying to get more knowledge about the car.......

morganoh

Maybe we will meet on one of the overseas outings.

SushiFan

overseas? ha ha ha... we'll see. I'm going to Japan coming early April..

tincup

Bro,

Sorry for tardiness, but as is obvious, I'm not too regular in this forum, but it's been a few too many crazy weeks of travelling. Probably won't get any breather until April or may

Just got my 8 and loving every minute of it.... no surprises there... haha.... Defintely hoping to swing over to your place some day to check out the old neighbourhood, but gotta get past this period first

Anyway, just got my car and already thinking of spending more.... checking out some rims this weekend... thinking of 18s, but just wanna look around for something I like.... getting more aded cost everyday mate....

Will call if I'm swinging over yah....

Cheers

SushiFan

Oh really? love to see it someday, should be nice.

morganoh

ITS here
My LSD Vertical Door

morganoh

I just renew my NTUC insurance today at the Branch offices.
I went there cos I would like to find ways to lower my insurances.

Initial I was paying $1690 with 20% NCB and $1500 excess

The lady told me that I can get an additional of 5% if I sign a letter stating that I do not want the Agent.
and additional of 8% if I take an additional $500 excess (so total excess will be $2000).
Next year can get another 5% for staying with them for 3 years.

I paid $1480 (20% NCB, so if with out NCB the actual premium is $1850)

Forgot to mention, I'm 32 years old.

So I believe that if u are 34years old and with 50%NCB.
Your NTUC insurance can't and should not be higher than mine.

SushiFan

morganoh, catch no ball with your insurance renewal, sounds really complicated....but I guess you still got it cheaper and that's more important?

morganoh

OK here I go again.
What I had for last year NTUC insurance. Though an agent.
Excess of $1500.
Actual Premium = $2113,
with 20% NCB = $1690

NOW
Sign a letter to bypass the agent. (cos Agent earn 5% of my premium)
Now the insurance is NTUC selling directly to Me no agent in between.

So the premium is $1690 - 5% = $1605 (save $85)

and I increase my excess from $1500 to $2000, for that another 8% deduction on the premium

So the premium is $1605 - 8% = $1478 (save $127)

In conclusion the final Premium I paid is $1478 (saving a total of $212)
for an insurance at 32 years old with 20% NCB and an excess of $2000.

Hope that u understand.

SushiFan

Yup, see what you mean this time though I thought normally we want less excess? I guess it is a trade off between premium and excess, AIG's is like excess $750 but premium higher. And me still waiting for AIG to respond after 1 month.. hur hur... this is becoming unbecoming of AIG... take 1 month to give me a quote..

SushiFan

Got my insurance quote from AIG today, my goodness, close to $1700 for $2500 excess based on 50% NCD and 5 % COM......*faint*.

Would NTUC or AXA be any better?

darkelfin

confirm ntuc will be better.

INXS

DF, i didnt know u were spokesman for NTUC

Goody

Today I was told by NTUC hotline that there will not be any additional discount even bypass the agent. Therefore it would be the same premium whether to get direct from NTUC or thru agent.

Is this the latest decision by NTUC?

morganoh

I went down to the office during Feb. and they give me the 5% discount.

Maybe its becos, few days or weeks ago, the Straits Time came out with an article stating that Insurance company are losing money in the motor industry . and they are all going to raise the premium, it order to cover back the losses.

But up till now no company had done so, as everyone is waiting for someone to Start 1st. So the only thing NTUC can do now is not to give any furthur discount.

Thats what I think, may not be true.

Choco

Hi im a financial advisor and just happened to come across this tread. You can PM me if u r interested to get car insurance quotation from various car insurance company from me. I'll get back to you asap.

Just some honest opinion, NTUC maybe cheap but it takes ages for you to claim even for minor stuffs. So if you are very concerned with claims i suggest you take on some other more efficient company such as AIG. (btw im not from AIG so it's not a biased promotion)

sqflyer

Hmm.. didn't know that financial advisors can give insurance quotation leh. I oso have a 'financial advisor' friend from AIA, so I guess technically he is also not from AIG, right?

morganoh

Yes your normal AIA insurance agent can also sell u the AIG car insurance too.

sqflyer

Thanks bro... I know that. Just wondering if Choco is also a non AIG affiliated "financial advisor" from AIA that can give us insurance quotations that are "not a biased promotion". If so, I'd be interested to see how low the premiums would be from other insurance companies compared to NTUC.

c h o x

I agree in one way or another...but bear in mind we're talking about having an excess ranging from 1k-2k when driving an 8. So if it's really a minor claim, no one in his/her correct sense of mind would proceed with such a claim against his/her own insurance and affect their NCD, correct me if I'm wrong. And if it's a major claim, longer claim time wouldn't be much of a factor since the car should technically take a longer time to repair...my 5 cents worth.

Goody

Thanks for your comments.

I think it is a matter of time the insurance companies will increase the premium .......... at least for now their first step is not to give anymore "by-pass" discount !?

Choco

I honestly do not know there is such an offer by NTUC. I would reccomend you to go back to the person who told you that there is such an offer. That's the only way to clarify your doubt.