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Settlement of Total Loss at Market Value of Vehicles
 

Claim Service Centre         Filing Claim on : Life & Health Motor General
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  1. NTUC Income insures motor vehicles at market value. We adopt the following method to ensure a fair settlement that is acceptable to the owner.

  2. In the event of a total loss, due to theft or severe damage, we determine the market value by referring to various sources, including motoring magazines, advertisements and quotations from dealers.

  3. The market values of a particular vehicle depends on various factors, such as its physical condition, inherent OMV and COE values and accident history. We treat each case separately.
 
 

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