Motor Insurance premiums increase in 2008?

[Junjie]

Just received a renewal offer letter from AIG for 2008, after so-called discount. it's even more expensive than the amt that I paid for last year. Is it a norm now that all insurance companies increase their premiums?.....Anyone encounter such situation?

 

Btw, my insurance expiring in Jan 08, anyone have good offers/lobangs can PM me..thks...

Edited December 2, 2007 by Junjie

[Cheesey74]

I tink last week news already report that all those motor insurance company are losing plenty of millions on vehicle insurance claims and hence will be dramatically adjusting all premiums upward. So yours roughly how many percent increment over your curent premium?

 

 

DC

[Beei]

yeah.. me AIG also..

my premiums even more expensive than last year.. even with additional 10% NCD + 5% duuno what and another 5% cert of merit..

asking one of the thread sponser here to source for me already..

mine expiring end of this year..

[Nutty]

I think it is no longer news that workshops are making insurance premiums higher and higher by charging exorbitant fees.

 

And no one can do anything to keep it down...

[Toalson]

Hmm come to think of it mine oso coming up in end Jan 08. PM the offers u got

[Ahyoo2002]

The basic premium for mine that I had just renewed also increase a bit

 

Now cars are so new, any accident can involve a lot of repair cost. Imagine I seen 2 accidents within 50meters and each one involve 3 brand new cars

[Seaweed]

is there anything that is not going up in singapore this year ??? the only i can think of is my salary..

[Shawyz]

if u noticed, the premium increase every year. i used to be with AIG, but with the increaseing premium every year, cannot tahan..

 

switched to other 'smaller' insurance company last year, premium down by quite a lot. you can do a search in the other car forums, and get some quotes before making decision.

 

i got one with NCD protector... will 'safeguard' your ncd in case of accident..

 

cheers

[Jaffa]

Bro can PM me the contact.Due for renewal in 3wks time.

[Xfyin]

Similar case here. quota from AIG almost the same as last year even after another 10% discount... finally switched to another insurance company with aruond 200 less premium.

[Picanto]

i think the market leader suffer losses, that's why on the whole, the insurance companies are losing $$. is that a ploy by that market leader to increse premiums?

[Junjie]

Seem like we are always on the losing end.....

[Lobangking88]

Just received a renewal offer letter from AIG for 2008, after so-called discount. it's even more expensive than the amt that I paid for last year. Is it a norm now that all insurance companies increase their premiums?.....Anyone encounter such situation?

 

Btw, my insurance expiring in Jan 08, anyone have good offers/lobangs can PM me..thks...

 

Do give me a chance to quote you. :)

 

Cheers

[Lobangking88]

if u noticed, the premium increase every year. i used to be with AIG, but with the increaseing premium every year, cannot tahan..

 

switched to other 'smaller' insurance company last year, premium down by quite a lot. you can do a search in the other car forums, and get some quotes before making decision.

 

i got one with NCD protector... will 'safeguard' your ncd in case of accident..

 

cheers

 

NCD protector is for those that have 40-50% NCD

[Mzrmazda3]

Heard from my insurance friend that insurance is going Up Up Up for these 2 years ...

 

Got my renewal from the same company previously and price was much more than what i have paid last year too

 

In the end, got my friend to source for another alternative which is cheaper by almost 200 bucks ....

[Joshterran]

Just received a renewal offer letter from AIG for 2008, after so-called discount. it's even more expensive than the amt that I paid for last year. Is it a norm now that all insurance companies increase their premiums?.....Anyone encounter such situation?

 

Btw, my insurance expiring in Jan 08, anyone have good offers/lobangs can PM me..thks...

 

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Hi,

 

I have just renewed my insurance with a new company, NTUC (many guys here may not like them) but I will share my finding for your reference. My NCD is 50% + 5 %

 

AIG (previous car insurer), quoted me best deal S$ 834.00 (excess S$ 500.00, courtesy car, own workshop)

 

Liberty Insurance S$ 766.00 (excess S$ 500.00, no courtesy car, own workshop)

 

China insurance, answered my call but din revert any quotation even after I chased them for a few days. (maybe too many customers, dun wan my business)

 

NTUC, best deal S$ 674.00 (No excess, courtesy car, NTUC workshop) plus S$ 30.00 NTUC voucher (I din know about the voucher until I renew with them)

 

I also dun like the way NTUC handle things during the "Tan" CEO era but look like now they are trying to amend their past mistake with their new CEO

 

With the saving of S$ 150.00, I can use it to pay for my road tax. Just drive more careful on the road.

 

Why should I be paying for the same protection but higher premium just because of prestige insurance company?

 

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Edited December 3, 2007 by Joshterran

[Lobangking88]

Yupz, i just pm junjie, savings of about $300 :)

 

Cheers

Kelvin

9423-3734

[Blackyv]

all i can say is.... wish u all the best.... i find it hard to imagine the "good" deal of cheapest premium + No excess + courtesy car + voucher somemore., that's too good to be true deal and if u ask me, i wont even get near it if im the one getting this quote...... i always remember, no free luch in singapore and "u pay peanut, u get monkey" quote is always here to stay..........