Thursday, July 29, 2010

Motor insurance - get lower premium

Mr. Tan,
I just got my renewal for my motor policy. You know what - the premium increased by more than 15% and I did not even make any claim. I called the insurance company and they were arrogant - like take it or leave it. Where can I get a lower premium rate? Motoring cost keeps increasing - petrol, ERP and now insurance!

REPLY
Go to my website, www.tankinlian.com and click on "Ask Mr. Tan". Type "motor" in the search box. You will find a FAQ on motor insurance. Click on "view" to read the document. You will find the link to some insurance companies that can give you an online quote on motor insurance. You may be able to get a cheaper premium.

An alternative is for you to buy non-comprehensive insurance and enjoy a reduction of about 35% in the premium - but you have to pay for the repair cost of your own car. If you have a regular workshop, you can use them for minor repairs. And drive carefully.
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3 comments:

Unknown said...

Dear Mr Tan,

For my motor insurance renewal, I use www.InsureMyCar.com.sg to get quotes from several insurers. I eventually signed up with RSA as their quote was the most competitive. I do not work for InsureMyCar or RSA or get any benefit from recommending them. Just wish to share my experience.

July 29, 2010 8:39 AM
val: i believe in me => said...

It is recommended to approach a broker to obtain at least 3quotes on ur behalf. That is one strong benefit that a broker has over an insurer. You can check out http://www.insupermart.com for motor quotes as well.

July 29, 2010 5:24 PM
JRT said...

ERP increase, petrol increase, COE increase...almost everything increase. When insurance premium increases, what is there to complain?

July 29, 2010 8:41 PM

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