Forum: Older cars deserve fair access to insurance
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As the owner of a 17-year-old car that is regularly maintained and fully compliant with inspection requirements, I’m dismayed at the behaviour of some motor insurers that flatly refuse to provide insurance quotes.
By law, every vehicle must be insured before it can be driven. When insurers deny coverage to older cars, they are effectively preventing responsible owners from using their vehicles, even when the vehicles remain roadworthy.
Insurance companies are meant to assess and cover risk. If necessary, they can charge higher premiums to reflect risk. A refusal to quote undermines confidence in the insurance industry, and leaves motorists at the mercy of arbitrary decisions.
The authorities must ensure that insurers do not shirk their obligations. Regardless of age, every vehicle in Singapore that is deemed roadworthy after clearing inspection should have fair access to insurance.
Harpal Singh
