NTUC Income insures motor vehicles at market value. We adopt the following
method to ensure a fair settlement that is acceptable to the owner.
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.
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.