PGI Motor Insurance 2

Question 1

What is the Motor Insurers' Bureau (MIB) of Singapore?

Accepted Answer

An organisation that compensates victims of road accidents caused by uninsured or untraced drivers

Answer

A motor vehicle repair shop

Answer

A driving school

Answer

A car rental company

Question 2

What is an 'NCD protector' in Singapore motor insurance?

Accepted Answer

An optional add-on that preserves your No Claim Discount even if you make a claim, usually for an additional premium

Answer

A free add-on for all policies

Answer

A type of anti-theft device

Answer

A government subsidy for safe drivers

Question 3

What factors affect motor insurance premiums in Singapore?

Accepted Answer

Vehicle make/model, driver's age and experience, claims history, NCD, usage, driving record, and modifications

Answer

Only the vehicle's colour

Answer

Only the number of passengers

Answer

Only the vehicle's age

Question 4

What is the windscreen cover in a Singapore motor insurance policy?

Accepted Answer

Optional coverage for windscreen damage, typically with its own excess, that can be claimed without affecting the NCD (depending on the insurer)

Answer

Always included at no extra cost

Answer

Not available in Singapore

Answer

Only covers the rear windscreen

Question 5

What is the GIA (General Insurance Association) accident reporting process in Singapore?

Accepted Answer

Report to the insurer and the GIA within 24 hours using the motor accident report form, with both parties submitting their versions

Answer

Report only to the police

Answer

No reporting is required for minor accidents

Answer

Only report if hospitalisation occurs

Question 6

What does 'agreed value' vs 'market value' mean in motor insurance?

Accepted Answer

Agreed value is a pre-determined fixed payout in case of total loss; market value is the actual market worth of the vehicle at the time of the claim

Answer

They are the same concept

Answer

Market value is always higher

Answer

Agreed value is only for new cars