Car insurance renewal

[jhnology]

Thinking of renewal my car insurance for 18mths instead of 12mths.

 

Reason becos renewal price like flat even though NCD increases. So thinking if it make sense to lock in the price for 18mths at the start.

 

If go with 18mths, NCD increases at 12th mth mark (in contract) or at 18th mth (end of contract)?

[ER-3682]

Must well 1 shot Re-New 5 or 10 Years like COE.

[Inlinefour]

On 2/6/2025 at 9:48 PM, ER-3682 said:

Must well 1 shot Re-New 5 or 10 Years like COE.

Thought maximum two years 🫣🫣🫣

[inlinesix]

If see https://www.straitstimes.com/business/general-insurance-sector-grows-101-in-2023-domestic-motor-claims-spike, it means premium is going up

[jhnology]

On 2/6/2025 at 9:48 PM, ER-3682 said:

Must well 1 shot Re-New 5 or 10 Years like COE.

Which insurance company have this option?

[ER-3682]

On 2/6/2025 at 10:56 PM, jhnology said:

Which insurance company have this option?

Have.!MyCarForum Insurance LLC operated by @kobayashiGT....can get up to 75% NCD if is a Good Driver,no Claims & no Accident for above 3 Years.

Edited February 6 by ER-3682

[kobayashiGT]

On 2/7/2025 at 6:34 AM, ER-3682 said:

Have.!MyCarForum Insurance LLC operated by @kobayashiGT....can get up to 75% NCD if is a Good Driver,no Claims & no Accident for above 3 Years.

I wish I had an insurance company bro. But you can contact our insurance partner, Singsaver. 

They will try their best to find you the best quote! 

[kobayashiGT]

On 2/6/2025 at 8:29 PM, jhnology said:

Thinking of renewal my car insurance for 18mths instead of 12mths.

 

Reason becos renewal price like flat even though NCD increases. So thinking if it make sense to lock in the price for 18mths at the start.

 

If go with 18mths, NCD increases at 12th mth mark (in contract) or at 18th mth (end of contract)?

I dunno if there is any insurance company that will quote you 18 months anot leh. I never try before lah. I usually buy yearly renewal one. 

[Beehive3783]

On 2/6/2025 at 8:29 PM, jhnology said:

Thinking of renewal my car insurance for 18mths instead of 12mths.

 

Reason becos renewal price like flat even though NCD increases. So thinking if it make sense to lock in the price for 18mths at the start.

 

If go with 18mths, NCD increases at 12th mth mark (in contract) or at 18th mth (end of contract)?

You will have better chance to get lower prices if you switch insurers every year. Almost zero chance if you stay with same insurer.

[ER-3682]

On 2/7/2025 at 9:32 AM, kobayashiGT said:

I dunno if there is any insurance company that will quote you 18 months anot leh. I never try before lah. I usually buy yearly renewal one. 

Me too..never heard before.

[inlinesix]

On 2/7/2025 at 9:37 AM, Beehive3783 said:

You will have better chance to get lower prices if you switch insurers every year. Almost zero chance if you stay with same insurer.

Not necessary.

I stayed with the same insurer with the same premium.

This is despite everyone premium had increased.

Lastly, there is additional 2.5% loyalty discount which make it 55% discount for me.

[inlinesix]

On 2/7/2025 at 9:32 AM, kobayashiGT said:

I dunno if there is any insurance company that will quote you 18 months anot leh. I never try before lah. I usually buy yearly renewal one. 

The max i did was 15 months to align with road tax expiry.

[bsswan]

On 2/6/2025 at 10:33 PM, inlinesix said:

If see https://www.straitstimes.com/business/general-insurance-sector-grows-101-in-2023-domestic-motor-claims-spike, it means premium is going up

My renewal was flat, without changing insurer. Was, of course, a happy bunny.

[inlinesix]

On 2/7/2025 at 10:43 AM, bsswan said:

My renewal was flat, without changing insurer. Was, of course, a happy bunny.

You are lucky lo.

 

[kobayashiGT]

On 2/6/2025 at 9:48 PM, ER-3682 said:

Must well 1 shot Re-New 5 or 10 Years like COE.

if like that I will just pay kopitiam $3,000. 

I wanna make sure they sell me kopi at $1.40 until I retire. hahahahahahaha

[ER-3682]

On 2/7/2025 at 11:01 AM, kobayashiGT said:

if like that I will just pay kopitiam $3,000. 

I wanna make sure they sell me kopi at $1.40 until I retire. hahahahahahaha

That mean this year you 61 Years old if you retired at 67.

[Bigtoothpick]

On 2/7/2025 at 9:32 AM, kobayashiGT said:

I dunno if there is any insurance company that will quote you 18 months anot leh. I never try before lah. I usually buy yearly renewal one. 

I bought 2 years before. Tokiomarine.

[jhnology]

On 2/7/2025 at 9:32 AM, kobayashiGT said:

I dunno if there is any insurance company that will quote you 18 months anot leh. I never try before lah. I usually buy yearly renewal one. 

Singlife hav this option. Cos NSMEN hav additional 15% off on top of any promo (eg now is 20%. So is 20% + 15$), that why seem good deal but i also saw promo rate not valid for renewal. That why thinking 1 shot go for 18mths.

 

Anyone with Singlife n can advice how their renewal discount %?