S1E7: Why a single female pays less for motor insurance than a married one

How premiums are calculated and how making a claim does not mean a higher premium renewal. Synopsis: In this new podcast, The Straits Times offers expert insights if you are in the market for a new vehicle or are tracking transportation trends. It is compulsory for all vehicles to have third-party insurance and vehicles that are under financing are required to have comprehensive insurance policies. To find out how motorists can avoid some of the pitfalls of getting coverage for their vehicles, ST’s senior transport correspondent Lee Nian Tjoe speaks with Mr Douglas Chia, the chief executive of Eazy, an insurance brokerage. Highlights (click/tap above): 3:33 Why does it seem that motor insurance premiums are always going up, even when the car is getting older? 10:00 A married male driver pays less for insurance than an unmarried one, but the opposite is true for female drivers: an unmarried one is deemed to be less risky than a married one 21:33 How the No Claim Discount (NCD) protector does not work to the motorist’s benefit 28:00 Why accidents in rental cars are so shockingly expensive 33:49 Horror stories of exorbitant claims from staged accidents 44:35 What happens if the other party runs away in an accident? Produced by: Lee Nian Tjoe ([email protected]), Ernest Luis and Teo Tong Kai Edited by: Teo Tong Kai Follow COE Watch Podcast here: Channel: https://str.sg/iTtE Apple Podcasts: https://str.sg/iqW2 Spotify: https://str.sg/iqgB SPH Awedio app: https://www.awedio.sg/ Website: http://str.sg/stpodcasts Feedback to: [email protected] Read Lee Nian Tjoe's articles: https://str.sg/wt8G Follow Lee Nian Tjoe on LinkedIn: https://str.sg/iqkJ Read more COE articles: https://str.sg/iGKC --- Discover more ST podcast channels: In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts --- Special edition series: True Crimes Of Asia (6 eps): https://str.sg/i44T The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! #coewatchSee omnystudio.com/listener for privacy information.