Motor Insurance Singapore » Amp

NTUC (Drivo Classic) – Summary of Main Benefits (Authorised Workshops)

admin — Fri, 06 Aug 2010 23:16:28 +0000

NTUC (Drivo Classic) – Summary of Main Benefits (Authorised Workshops)

Windscreen Coverage	$107 Excess (including GST)
Loss Of Use	Only for Drivo Classic Plus with additional premium: $50 per day, if repair takes 3 days and above (max up to 7 days)
NCD Protector	Applicable for 50% NCD holder. Requires an extra 10% premium
PA for insured / passengers	Up to $20,000
Towing Service	Free (up to $200)
Waiver of Excess	Nil (unless insured takes up Drivo Classic Plus @ additional premium, then excess can be waived off)
Workshop	Authorized Workshops Only
Excess for Young / Inexperienced Driver / Unnamed driver	All private car policyholders shall be responsible for Unnamed Driver Excess of $2,500, in addition to the Excess stated under the Policy, if the said driver is aged 26 years &below or has less than 1 year relevant driving experience. The Unnamed Driver Excess is $500 if aged 27 years and above.
Installment Plan	Yes (DBS/POSB/OCBC/UOB – 6 or 12 month installment)
Payment Method	Cash/Cheque/Credit Card

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AXA Insurance – Summary of Main Benefits (Authorized Workshops)

admin — Fri, 06 Aug 2010 23:10:11 +0000

AXA Insurance – Summary of Main Benefits (Authorized Workshops)

Windscreen Coverage	$0 Excess & Free Reinstatement (unlimited)
Loss Of Use	$50 per day, provided that repair takes 3 days & above (max $250)
NCD Protector	10% of premium – only applicable for 50% NCD holders
PA for insured / passengers	$30,000 / $20,000
Towing Service	Free
Waiver of Excess	For 50% NCD – basic excess waived; For NCD 40% & below –Excess waived off by 50%. (applies for insured & authorized driver)
Workshop	Authorized Workshops Only
Excess for Young / Inexperienced Driver / Unnamed driver	Unnamed driver – additional excess of $500 + policy excess, for > 26 years old & > 1 year driving experience. Unnamed young & Inexperienced driver excess – $2,500. Named young & Inexperience Drivers Excess – Additional Excess of $500 for 26 years old & below and/or with driving exp < 1 year
Installment Plan	Yes (DBS/POSB/OCBC/UOB – 6 or 12 month installment)
Payment Method	Cash/Cheque/Credit Card

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Liberty Insurance – Summary of Main Benefits (Authorized Workshops)

admin — Fri, 06 Aug 2010 23:01:09 +0000

Liberty Insurance – Summary of Main Benefits (Authorized Workshops)

Windscreen Coverage	$100 + 7% GST Excess is applicable & Free Reinstatement
Loss Of Use	Courtesy car provided (for up to 5 days)
NCD Protector	10% premium is payable
PA for insured / passengers	$50,000
Towing Service	Free – for accident
Waiver of Excess	Nil
Workshop	Authorized Workshops Only
Excess for Young / Inexperienced Driver / Unnamed driver	$3,000 – Additional Excess for Young, Elderly & Inexperienced Drivers. $1,100 – Unnamed Drivers
Installment Plan	No
Payment Method	Cash/Cheque/Credit Card

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OAC (Drive & Save) – Summary of Main Benefits (Authorised Workshops)

admin — Fri, 06 Aug 2010 22:56:57 +0000

OAC (Drive & Save) – Summary of Main Benefits (Authorised Workshops)

Windscreen Coverage	$0 Excess & $50 for Reinstatement
Loss Of Use	Nil
NCD Protector	10% premium is payable
PA for insured / passengers	$20,000
Towing Service	Free (only for accident)
Waiver of Excess	40% & 50% NCD: waives off 100% of excess. 30% NCD & below: waives off 50% of excess
Workshop	Authorised Workshop. If new car is still under 3 year warranty from distributor/Agent, OAC allows driver to go back to distributor workshop for repair
Excess for Young / Inexperienced Driver / Unnamed driver	Unnamed – (Age < 22): $2,000. Unnamed – (Age > 22 & < 3 years driving exp): $1,500. Unnamed – (Age > 22 & > 3 years driving exp): $500. Named – (Less than 3 years driving experience): $ 1,000 + Original excess (of insured)
Installment Plan	Yes, only by OCBC credit card only
Payment Method	Cash/Cheque/Credit Card

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MSIG – Summary of Main Benefits (Any Workshop)

admin — Fri, 06 Aug 2010 22:50:04 +0000

MSIG – Summary of Main Benefits (Any Workshop)

Windscreen Coverage	$0 Excess & Free Reinstatement (unlimited)
Loss Of Use	Nil
NCD Protector	Only applicable for those with 50% NCD, additional 10% premium is payable
PA for insured / passengers	$20,000 / $10,000
Towing Service	Free – for accident
Waiver of Excess	Nil
Workshop	Any Workshop
Excess for Young / Inexperienced Driver / Unnamed driver	Additional $2,000 excess will apply to any authorized driver (other than the policy holder/primary driver) who is 26 years old or below and/or holder of a qualified driving license of less than 2 years
Installment Plan	Not available
Payment Method	Cash/Cheque/Credit Card

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Tenet (ExcelDrive Gold) – Summary of Main Benefits – Authorised Workshop

admin — Fri, 06 Aug 2010 22:39:16 +0000

Tenet (ExcelDrive Gold) – Summary of Main Benefits (Authorised Workshops)

Windscreen Coverage	$0 Excess & Free Windscreen Reinstatement (Limited to once during policy period) max of 2 claims
Loss Of Use	Daily Cash benefit given depending on CC of car (Repairs period exceed 3 days)
NCD Protector	Free NCD Protector if NCD is 30% -50%
PA for insured / passengers	$20,000 / $10,000
Towing Service	Free – for accident
Waiver of Excess	Original Excess Waived up to $1,000 (for first 2 claims)
Workshop	Authorized Workshops Only
Excess for Young / Inexperienced Driver / Unnamed driver	Additional excess (on top of original excess): Named Young and/or Inexperienced, Drivers or Elderly Drivers – $1,500. Unnamed Young and/or Inexperienced Drivers or Elderly Drivers – $3,000. ‘Young Drivers’ shall be defined as drivers (including the Insured) who are below 25 years old. ‘Inexperienced Drivers’ shall be defined as drivers (including the Insured) who have < 2 years of driving experience. 'Elderly Drivers' shall be defined as drivers (including the Insured) who are > 70 years old. Unnamed All Other Drivers – $500
Installment Plan	Not available
Payment Method	Cash/Cheque/Credit Card

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Chatis – AIG (AutoPlus) – Summary of Main Benefits – Authorised Workshop

admin — Thu, 15 Jul 2010 12:56:17 +0000

Summary of Main Benefits For AIG
(AutoPlus – Authorised Workshop)

Windscreen Coverage	$107 (Inclusive of GST) of excess is payable
Loss Of Use	Courtesy Car provided (up to 10 days)
NCD Protector	Nil
PA for insured/passengers	$50,000 / $10,000
Towing service	Free (even for mechanical breakdown)
Medical Reimbursement	$300 (insured & passengers)
Waiver of excess	Only at authorized workshop (50% NCD – waived off $600 & <50% NCD –waived off $300)
Workshop	Only Authorized Workshops, however if new car is still under 3 year warranty from distributor/Agent, AIG allows driver to go back for repair. * If the car is parallel imported & under 3 yr warranty, then driver needs to go back to authorized workshop.
Excess for young/inexperience driver/unnamed driver	An “Elderly, Young and/or Inexperienced Driver Excess” (“EYIDR”) of an additional sum of $3,000 in additional to the original policy excess (i.e $600) applies to an Authorized Driver (named or unnamed) if the Authorized Driver is above the age of 65, below the age of 23 and/or hasless than 2 year’s driving experience.
Installment Plan	Yes (Only DBS/POSB/UOB – 6 or 12 month)
Payment Method	Cash/Cheque/Credit Card

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Car Ownership in Singapore – What’s the Cost?

admin — Thu, 09 Apr 2009 05:22:40 +0000

Car ownership in Singapore involves a huge financial expense, probably the highest in the world. Therefore a frequently asked question is how much dough do drivers in Singapore have to sacrifice in order to own a car.

Here are some factors to consideration before getting yourself into the financial commitment of car ownership:

1. Loan Installment

2. Motor Insurance

3. Road Tax

4. Fuel

5. Parking

6. Servicing

7. Electronic Road Pricing

8. Cleaning & Car Grooming

9. Inspections

10. Others (eg, Radio License, occasional fines, etc)

And all these add up to around $1,000++ per month, depending mainly on your loan installment. In the next post in the coming days, I’ll touch how much each of these categories really cost.

Till then, drive safely.

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Renewal Notice

admin — Mon, 05 Jan 2009 06:57:08 +0000

Most (if not all) auto insurers in Singapore issue a renewal notice to car owners. It’s not a legal requirement to do so, but it’s beneficial for vehicle owners. Renewal notices act as reminders that the policy is about to expire. They are usually sent one month before your policy expires.

A renewal notice contains basic information about your motor car insurance policy such as:

- Name of Insured
- Expiry Date
- Renewal Premium
- Vehicle Details
- Permitted Use & Exclusions/Restrictions that May Apply

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Certificate of Insurance

admin — Thu, 01 Jan 2009 20:47:30 +0000

You’ll need a Certificate of Insurance in order to renew your road tax. This certificate must be produced in order to show the existence of your car insurance. It is a document signed by an official of the insurer to certify the authenticity of the certificate.

Information found on the Certificate of Insurance includes:

- The Certificate Number,
- The Name of Insured,
- The Registration Number of Vehicle,
- The Date of Commencement and Date of Expiry of Insurance,
- Persons or classes of persons entitled to drive the vehicle, &
- Limitations of Use

For certificates issued to a fleet of vehicles (aka. Motor Fleet Insurance), the registration number of the vehicles is replaced by the description of vehicles.

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