Wednesday, April 21, 2010

Buy motor insurance directly

Dear Mr Tan,

I wish to share a low-cost online purchase of car insurance with Aviva.
www.aviva.com.sg
Please share this in your blog if you like.


My profile: Male, 34, married, zero NCD, driving license 7 years, indoor job, 2005 used car, 1.4liter, zero demerit point.
Annual Premium: is $1503 ($500 excess, zero NCD, any 25 years old & above can drive, pay in full with credit card).
I have 5 other car insurance quotes and the next lowest annual premium is $1900+.


I heard over the radio (Class 95) that Aviva is new to the car insurance market in Singapore, They are taking away the middle man and streamline the back office operation and therefore giving a good deal to drivers.
This is a good buy direct service with the Internet.

My comment
It will be easy to get a quote from Aviva through their website.  You do not need to wait for the next renewal date. You can ask for a quote for your current year and compare with your existing premium, just to get an idea about how competitive they are.

9 comments:

  1. I am Male, 38 yrs old, 50% NCD with 5% COM, driving license 7 years, 2007 1.6 ltr car.

    Aviva quoted me $741.05 with loss of car usage option . This is the lowest quote I got. Even my current insurer (India International Insurance) currently considered as one of the most competitive in Singapore, quoted my renewal fee as $859.00. Although it allow free choice of workshop, the difference is more than 15%.

    The rest of the quotation I got all range between $900 to $1,200. Without trying to "sell" too much of Aviva, if you are in my shoe, how will you decide?

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  2. Male 55 10% NCD 2006 2.0l integra.

    Aviva quotes $1600 (with $1500 excess)

    AXA (existing one) quotes $2300 (with $900 excess). Other companies charges more than AXA.

    In the end, i chose Aviva. Hope there are more such plans around!

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  3. IMHO, take the cheapest one, and hope no accident claim. If claiming, use the authorized workshop by your insurance, so there is no shocking bill to make the car premium increasing every year.

    Aviva's online service is very convenient, immediately free quote is given. For other companies, have to wait for one day.

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  4. price offered by AVIVA for comprehensive policy is almost the same price as 3rd party coverage from the lowest cost provider (NTUC income)

    $855.12 (AVIVA comprehensive) vs $799.98 (NTUC 3rd party only)

    Must say I am impressed by their aggressive pricing. Hopefully this will filter down to the other general insurance providers and we get more cost competitive quotations in the months ahead.

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  5. Hope other insurance products like whole life and endowment and ILPs can be bought online by savvy people.
    In US it is popular.They are known as no load insurance.
    It is fair that savvy people should not pay commission for no advice or rubbish advice.
    I don't want to pay commission when I know more than the insurance agents, right?

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  6. Wow! I am switching to AVIVA once my NTUC car insurance ends!

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  7. I will switch from ntuc to aviva too.

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  8. you should see how much I saved on my Honda with aviva! it was about 20% cheaper than ntuc and if I did have to claim i dont drive round singapore waiting for hours to claim i just call them and they with me in 20 minutes and dop everything for me

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  9. Really very nice but i think for me AVIVA is best solution for my car... Thanks

    ReplyDelete