Motor insurance premium increased by 400%!

Just read a reply from Pui Phusangmook, SVP & GM NTUC Income, to the claim by Tan Boon Tong that his repair bill was high, $19,800. The photos shown in the ST today, of the damage car in the workshop and those shown yesterday were grossly different. But that was not my concern. I am startled by the comment that Tan Boon Tong's insurance premium had gone up by 400% because of the insurance claim. Actually no, I was not startled by this. I was shocked that his insurance premium would have gone up by 30% on renewal even if he has not make any claims. Wow! 30% increases in premium for nothing! Is this robbery or what? Motorists just have to pay. What choice have they got? Go shopping and compare prices from one insurer to the next? Can they get their insurance from Malaysia?


Anonymous said...

We are the world's laughing stock when it comes to owning a car.

Pay an arm and a leg for a common saloon car.

Pay 30% annual premium increase. If you make a claim, it's 400% increase in premiums, that is, if you can find some kiasu underwriter to do your business.

You can only drive your car for 10 years even if it is in pristine condition. Extend? Can. Pay lor.

And not forgetting the ERP, Road Tax and summons. The last is now moot because they just don't have enough traffic policemen to ensure that errant motorists do not get into an accident in the first place. I have not received a summons for the last 10 years. Me a good model driver? Hehe, maybe, maybe not. Get the drift?

I really do envy our VVIP. No need to worry about all the bullshit about owning that set of wheels. Plus got outriders some more.

In Australia, you can drive your car until the wheel literally drops off. No ERP. Cheap petrol. But never ever overtake a police car. Doing so means you have exceeded the speed limit. Here, no sweat. I have left our super polite police just seeing a puff of smoke as I take off at warp speed.

Motorists being ripped off and abused like what we are being subjected to here? All those crooked lawyers, motor car workshops and insurance companies will be strung out to dry.

WTF. I am very pissed.

Wally Buffet.

Anonymous said...

Speaking of Australia, the annaul premium on my three year old Camry is $700. If Australia is known as The Lucky Country, I propose Singapore should be known as The Ripoff Country?

redbean said...

singaporeans are being rip off in so many areas, from cars, properties, insurance, hospital bills, even cpf money. your money cannot touch.

Anonymous said...

redbean, if you cannot touch it, then it is not your money. simple as that.

redbean said...

yes, matilah also told me so. it is no longer my money.

Anonymous said...

good lah that you have accepted that fact and moved on. just treat it as the price you pay for enjoying the privileges that being a Singkie affords you.