It was recently reported that the premium of motor insurance had jumped almost 40% in most companies. The main reason for this is due to inflated repair bills and the relevant parties had formed a committee to study the claim process to minimise this issue. However, there is no solution yet. What this means is that we do not expect the premiums for motor insurance to be reduced in the near future. Most drivers stick to their renewal insurers for the better deal in the past and it is a common misconception that the current renewal premium is always the lowest as compared to other insurer. Some drivers think that the premium is not much different regardless you get the cover from which insurer. Below illustrates two cases of how different the quotations for a vehicle with 0% NCD varies among insurers.
Case 1
| Excess | Premium | |
| Allianz | $500.00 | $ 1,052.32 |
| AIG | $ 0.00 | $ 912.56 |
| China Taiping | $500.00 | $ 2,415.38 |
| HSBC | $500.00 | $ 1,554.09 |
| India | $500.00 | $ 1,887.22 |
| Liberty | $500.00 | $ 1,972.12 |
| Mitsui | $550.00 | $ 1,982.97 |
| MSIG | $500.00 | $ 1,368.97 |
| NTUC | $500.00 | $ 2,012.76 |
| Tenet | $500.00 | $ 2,081.62 |
Case 2
| Excess | Premium | |
| Allianz | $ 500 | $ 1,126.61 |
| AXA | $ 500 | $ 1,803.93 |
| AIG | $ 500 | $ 2,356.78 |
| China Taiping | $ 500 | $ 2,215.38 |
| HSBC | $ 500 | $ 1,554.09 |
| India | $ 500 | $ 978.25 |
| Liberty | $ 500 | $ 1,972.12 |
| Mitsui | $ 550 | $ 1,982.97 |
| MSIG | $ 500 | $ 1,368.97 |
| NTUC | $ 500 | $ 1,388.09 |
| Tenet | $ 500 | $ 2,081.62 |
You realise the lowest premium is not always from the same insurer. We try to source for a more competitive premiums for the your vehicle. You can get an quote by submitting the form below with no obligation. Our representative will contact you if more information is needed.
By submitting this form, you agree that Avallis Financial may collect, use and disclose your personal data, as provided in this entry form, for the following purposes in accordance with the Personal Data Protection Act 2012, the Privacy Statement and the Data Protection Policy of Avallis Financial.
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