Car Insurance

Calvary SG

Hi Guys,

I'll like to find out more about Car Insurance, If my i used my friend's name to buy insurance because cheaper due to her license is 4 years and being a female. But i will be the one driving the car. Lets say an accident happen and life is at stake, my life will not be covered right? will the damage of the car be covered also?

I'll also like to find out about Car Loan, Currently With tokyo loan leasing is 3.25% Per Annum. Is there any other Finance company or bank where i can take my car loan from which is good and you guys recommend it?

alwaysdisturbed SG

car insurance is for cars, not for you. you want to know if you are covered when invovled in an accident, ask your life insurance policy agent.

if the car is insured under the name of the so called mentioned female. if you were the driver and you got into an accident, i don't think the car will be covered, unless you are insured under alternate driver.

thats my impression.

airgrinder SG

Hi Guys,

Car insurance dun insured ur life. Get a accident or life policy.

Most car insurance insure third party drivers nowadays. Meaning u can drive her car. In case u got into any accidents, insurance will still cover the car. However, the excess for third party drivers are usually very high. For your friend, the excess may be $500. But if it's 3rd party, excess coulb be as high as $2000.

Note: Excess are amount of cash the driver have to pay before the insurance pays. Example, if repair cost is $1200, and ur car insurance policy excess is $500, U need to pay $500 and insurance company pays the reminding $700. Hence if your excess is high, (example $2000) the insurance company wun pay for any repair amount below $2k.

Another point to note is that in doing what u are thinking of doing, you will not be able to accumulate your own No Claims Discount (NCD) and Safe Driver Discount. Your NCD will increase usually every year by 10% when u do not have any accidents. Iff u have a NCD of 50%, your car insurance premium will be cut by half. Thus in future when u do get your own car, you'll have to start from scratch.

likedatosocan SG

better check it out with your auto insurer. don play play with these sort of thingies.

just like to kpkb that i feel that car insurance is one of the best businesses around:

1. car owner pay and pay for insurance premium. not cheap also. when got small accidents owners also wont generally claim due to the loss of NCB and higher subsequent premiums. So, see what i mean huh? Covered but won't claim. If Claim, pay and pay more and more later. What a wonderful business.

2. insurance agent will generally get to earn money from you year after year. what do they do for you during the year? :P generally people will not change insurance company. once you sign with an agent, that agent get to enjoy annual premium from you in most cases.

Who invented car insurance business? That guy is wiser than M?M inventor.

seyKai SG

no pay road-tax only got fine, no insurance, got accident then big TROUBLE

dun pray pray hor

Calvary SG

But i checked with a taxi driver and a car dealer at westcoast car mart. They both said that nowadays car insurance covers both the driver and myself even though the insurance and car name is lets say my uncle's name.

And also is there any website that i can check out on car insurance?

likedatosocan SG

And also is there any website that i can check out on car insurance?

hey bro, not say i wanna say lah.

you din go to Hong Lim park before is it?

10,000 lost their life savings.

Many of them all said they heard this and that from their salesmen.

>> its not what you hear or what they claim, its Black and White that is most important. Lessons learnt from HLP.

just my 1.8 cents without gst.

Calvary SG

other thing.,.. just wana do a survey here, who do you guys get ur car insurance from?

Great eastern, prudential, AIA, NTUC or Manulife?

Rj.starzz SG

If you want the best coverage, get the comprehensive coverage. Car insurance does cover injury/death, but there are limitations e.g. you must be in the process of getting into the car, or out of the car...for exact terms I don't know, you have to check with agent.

For car insurance NTUC should be the cheapest around...you can give them a call and ask.

However, if you are really concerned on getting the coverage, then get a personal accident plan from any insurance companies. I think its very cheap $50/year for 100k Life/TPD coverage. Its a standalone and renewable every year.

Just do a google search and you see lots of insurance companies, or you can check this directory http://singaporecarinsurance.blogspot.com/