Will your Car Insurance Premiums go up because of the Flood?

October 27, 2016 · Posted in FAQ 

Well, Jun-2010 had been a wet wet wet month. Orchard and some parts near the central were flooded. My guess is this would be increasing the premium for car insurance across the insurers soon, if not now, maybe at in another 6~12 months time. I hope I’m wrong because I’m a driver myself, and do not wish to pay higher premiums.

NTUC had taken an initiative to make an advertisement on the papers to say that it covers for flood. I think that is an aggressive and good marketing strategy, it also assures NTUC clients that they are covered in the event of flood. However, there are many insurers covering for flood too. So feel free to check them out, take a look at your policy cover too. If in doubt, check with your car insurance agent.

Looking forward, flood coverage is essential, as well as coverage given for fallen trees. Just look at the recent articles, that had cars damaged by trees because of the winds.

OK, that’s all for now. Time to enjoy the weekends!

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