THE General Insurance Association of Singapore's reply on Monday
('GIA's advice to motorists on no-claims discount')...
It defeats the purpose of purchasing the protector
in the first place.
Tan Kin Lian
http://www.straitstimes.com/STForum/Story/STIStory_587140.html
Read the letter from FISCA here
www.tankinlian.com/latest.aspx
I am a victim of the NCD protector, my experience:
ReplyDelete1. I took up my car insurance or a 1.8cc Japanese brand MPV at arounr $970. The counter staff asked if I would like to purchase NCD protector at $150 since I have 50% NCD. I took up the coverage.
2. I made a claim within the year when my passenger door was hit by a road accident debris on the PIE while traveling pass the accident site. I did not stopped to assess the damage until I parked.
3. The repair with relief car cost the insurer $330.
4. The following year my premium went up to $1500. I received a quote from another insurer for $880 with 50% NCD.
5. But if I switch insurer my NCD will be left with 30% and insurer company B told me they cannot insured me with 50% NCD since the NCD protector is from insurer A.
6. I went to insurer A and argue about the premium hike, theu lowered to $1400 with free NCD protector. I paid up the claim of $330 and decided not to insure with company A my other car as well in the following year.
7. I switched to insurer B after I paid up the claim and is still 50% NCD.
I have received a letter recently from insurer A offering me insurance premium for my Japanese car MPV at $970 with free NCD protector. But I have decided to stay with insurer B for one more year since their premium is still below $900.
Free NCD protector; just a gimmick to make you stay with them if you claim.