Singapore Insurance Policies Creating Bad Drivers?

Typically the insurance for a motor-vehicle in Singapore is obviously not cheap. Hence, it has led me to ponder, why do we even have motor-vehicle insurance in the first place? Vehicle Insurance is to ensure that in the case of a motor vehicle accident, there would be sufficient money to pay for the damages to the third party and sometimes to the first party, which of course would be oneself.

So, in view of the above, motor insurance is supposed to be good, no? In case you have a very serious accident that maybe piles up 10 cars plus a barrier ( not cheap! SGD4000 a piece! ) and a small tree ( SGD5000 a piece! ) you would still not be bankrupted or have to borrow from your parents/friends and perhaps even loan sharks to pay for the damages.

However, think about those whom drive with care and caution and do not get into accidents. Well as an incentive they are given the NCD ( No-Claims Discount ). I like to think of it as ( NO-COUNT DISCOUNT ) because in general they would discount you 10% and tell you the price has gone up 20% this year! Well this is not a rule across the board but it happens every so often. Do the math. This compounded with the fact that Singapore is a small country with a dense population of people and vehicles, many of the insurance companies   have very strict restrictions on their policies which drastically portions their market share. Most Except.... NTUC INCOME! Now, does this sound like a familiar problem in Economics?

Monopoly Never Felt So Good.

This is not accusatory or anything. However, the prices of insurance in Singapore are rising steeply, especially with the young and mobile now being able to afford better both in quantity and quality. In this case, the irresponsible drivers/riders tend to tax VERY heavily on those whom are careful. This is because an insurance policy is decided by the number of risk points which is derived from statistical/demographic evidence. These people have made an effort to abide by the law and not drive like tossers. Yet, the statistics are against them, simply say, because they would prefer to own a specific make & model of bike or car, or maybe due to their age. All because someone else knows that their next romp with another motorist or the barrier will be fully paid for. 

Already, Drivers/Riders in Singapore have earned themselves the reputation as being as "kiasu" as they are in everything else and they have also topped in terms of rudeness and blatant disrespect for others on the road.  It does not help that some have the idea that one could bank on the fact that his insurance would cover his indiscretions. This kind of mindset would lead to eventually, the development of more sh*tty c*nt c*ck s*cking drivers. It would be ludicrous to claim that all the drivers/riders around act the way they do simply because they have insurance. However, if one looks at it objectively and logically, it is easy to see that part of the reason why these drivers/riders are more brazen to commit the type of offences and get into accidents could be attributed to the fact that they know they will be backed up by a combined pool of money (The insurer) and the overall cost to them to have an accident will be minute. This breeds lazy, reckless, rude and inconsiderate drivers or riders.