Monday, March 17, 2008

Motor insurance increase by 20%

Hi, Mr. Tan

I have insured my motor car with NTUC for the past many years, when you were CEO. I just received the renewal notice for my car insurance. Guess what! The premium increased by more than 20%.

I did not make any claim and have been enjoying 50% discount. Why should the premium increase by so much? Should I stay with NTUC?

REPLY
I recall that the motor insurance has lost money during the past year. But I agree that an increase of 20% is excessive, especially as you did not make any claim last year.

Perhaps you should call a few insurance companies and check their premium for your car. The telephone numbers are shown here:
http://www.tankinlian.com/faq/motord.html

Let me know the results of your survey.
Posted by at

3 comments:

Anonymous said...

Source for alternative. Income is not the best.
In the past Income could absorb some of the cost increase. Today it is running at much higher cost. Where does the money come from to pay high salaried senior managers recently recruited.
Where is the money from to pay the full page advertisement?
What about the renovation?
What about the high commission paid for products like revosave and vivo life.
What about the incentive trips for agents?
Did you see or hear of this in the past?
You policyholders better brace for more bad news. This time you will fall from the chair. Soon coming.

March 17, 2008 9:59 AM
Anonymous said...

Dear Mr Tan,

I asked a few insurance company shown in your FAQ. The best quote came from India International. They charge 20% lower than NTUC. Is it okay to insure with this insurance company?

March 22, 2008 5:47 AM
Anonymous said...

Last year, I paid $600 for my Ins. with 50% NCD at NTUC. This year my 2-year old Toyota Wish 1.8 was quoted the following for 50% NCD & NCD protect:
NTUC - $870; excess not stated
GE's OAC - $810, $600 excess
China Ins - $750
India Ins - $690, $100 excess.

Let's all migrate to India Ins & let the others suffer for charging us high premiums!

March 30, 2008 5:22 PM

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