Tan Kin Lian's Blog: Unjustified increase in premium for motor insurance

Thursday, July 24, 2008

Insurance companies have increased their premium rates by about 20% this year. Dr. Money said that the increase is not justified, as these companies have made a lot of profit from their investments. Here is his article:

http://newpaper.asia1.com.sg/columnists/story/0,4136,168843,00.html

http://www.tankinlian.com/drmoney/

siewkhim said...: OK the increase is unjustified. They should look at overall results.They called it insurance profit.

What to do next?

Don't buy motor policy? You cannot drive your car.

Complain to MAS? They may say, "it is a commercial decision"

Report to God? He will say "Go to hell"

Consumer Association?

Any suggestion Kin Lian, on what to do?
You see in Singapore we have very; July 24, 2008 3:43 PM
Tan Kin Lian said...: Tan Kin Lian says, "Sell your car and take public transport".; July 25, 2008 6:01 AM
siewkhim said...: That's a clever answer Kin Lian.

So what happen if they increase the fares of public transport reasons being, fuel up, salary up and everything is up etc.

So, don't take public tranport. So we cycle to work, school etc.

Then they increase the price of bicyles.

So we walk to work and school?; July 25, 2008 5:24 PM

Thursday, July 24, 2008