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Why you should be honest to Car Insurance Company

In Singapore, when you are applying for car insurance, the insurer need to know all the information about you to assess the business risk accepted from you and understand your needs as a policyholder. Only when these two requirements are met, then can the insurers set an accurate premium for your motor car insurance.

Usually these are the sets of questions required by insurance companies providing motor car insurance:
- personal particulars and your vehicle details
- your claim history (third party or own claim) and what is the amount
- have you ever received a ticket or been charged for a driving offense
- who's going to drive the vehicle (especially named drivers) and how many years of driving experience does the driver has.

If you have not been in any accident for the last few years, you get to enjoy a NCD (No Claim Bonus) discount. The discount starts from 10% to a maximum of 50%. This is to reward careful drivers. Of course, if you subsequently have accidents, that will reduce the NCD bonus.

Be warned that although you can hide or give wrong details and get lower premiums, once you are exposed, you will not be able to claim any compensation from the insurers. So it is very important that you give all the details required and do not lie about them.

Base on a number of factors, including those stated above, the insurer is able to calculate how much you need to pay for your next renewal. Different insurers will have different claims experience, which means that you can get different premium quotations. As a result, it is better for you to get several quotations from your agent. For convenience, you could get your 3 best quotations from You will save the time from searching and comparing the numerous quotations that you get.

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