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

The MIB provides a safety net for accident victims who cannot claim from the at-fault driver because they were uninsured or could not be identified (hit-and-run). It is funded by all motor insurers.

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

An NCD protector is an optional paid add-on that preserves your NCD (up to a certain percentage) after a claim. It costs extra but can save money if you need to make a claim.

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

Multiple factors determine premiums: vehicle type and value, driver demographics, driving experience, claims history, NCD level, annual mileage, vehicle modifications, and intended use (personal vs. commercial).

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

Windscreen cover is an optional benefit in many comprehensive policies. Some insurers allow windscreen claims without affecting NCD, though a separate windscreen excess usually applies.

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

Both parties in a motor accident should submit reports to their respective insurers and may use the GIA motor accident report form. Prompt reporting within 24 hours helps expedite the claims process.

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PGI Motor Insurance 2