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Insurance Renewal Higher Despite NCD

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vortex:
My premium with NTUC was $710 last year for a 10% NCD. When received the renewal letter, I was surprised that it raised to $850 despite the 20% NCD.

Do you guys experienced the same, higher premium every year even with NCD. NTUC also ripped off people, as more people switch to them ?

gh05tss:

--- Quote from: vortex on November 29, 2008, 11:50:46 AM ---My premium with NTUC was $710 last year for a 10% NCD. When received the renewal letter, I was surprised that it raised to $850 despite the 20% NCD.

Do you guys experienced the same, higher premium every year even with NCD. NTUC also ripped off people, as more people switch to them ?

--- End quote ---

For my past 14 years of car ownership, I never had lower premium each time I renew my insurance despite the increase of NCD each year. In Singapore, insurance companies punish those that keep a good record for the mistakes of those greedy n reckless drivers.

bryocketh:
what is NCD? and is NTUC one of the company hat offeres the lowest price?

clarence:

--- Quote from: gh05tss on November 29, 2008, 12:06:46 PM ---For my past 14 years of car ownership, I never had lower premium each time I renew my insurance despite the increase of NCD each year. In Singapore, insurance companies punish those that keep a good record for the mistakes of those greedy n reckless drivers.

--- End quote ---

Actually it is the workshops which are the main culprits.

They further damage the car and make sky high inflated claims.

vortex:

--- Quote from: clarence on November 30, 2008, 11:30:07 PM ---Actually it is the workshops which are the main culprits.

They further damage the car and make sky high inflated claims.

--- End quote ---

How can this be possible ? As insurance company required the assessment of the demages by IDAC ?

I'll think it is because those driving commercial vehicles anyhow drive the pickups / vans / trucks / buses, even kena accident also non of their business. Hence this eats into our so called NCD.

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