A Short Note on No Claim Discount

Recently, General Insurance Association (GIA) has received feedback from MAS that many motorists who have bought No Claim Discount (NCD) Protector for their motor insurance are not clearly aware that:

i) their NCD Protector may not be transferable to another insurer

ii) having an NCD Protector will not necessarily protect them against non-renewal or cancellation of their policy by their insurer

And many policyholders are not even aware that they are paying an extra premium for such a feature!

For more information about No Claim Discount, please refer my blog post All you need know about NO CLAIM DISCOUNT.

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About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
The views and opinions expressed in this article are those of the author. This does not reflect the official position of any agency, organization, employer or company. Refer to full disclaimers here.

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