As every car owner knows, or should know, car insurance is a very important initial step in their ownership. Better to have and not need, than need and not have, they always say.
With so many insurance companies out there offering varying rates and coverages, faith, trust, and a little bit of pixie dust must be considered when choosing who you'd want looking out for your wellbeing.
With that being said, here's why you should consider ECICS Limited, especially if you're a Tesla owner, considering that their ongoing campaign, Tesla Motor Insurance Fractional Shares, is now giving you the chance not just to protect your car, but to also own Tesla fractional shares.
Tesla? ECICS? Fractional shares? What?
If you’re not a "finance bro" or an investor of stocks, you may be wondering; what is a fractional share and how does a local insurance company and Tesla come into any of this? Fear not, for an explanation is on its way, and don’t worry, we'll skip the technical jargon and explain it in layman terms because frankly, we had the same perplexed look on our faces. But first, a little about ECICS Limited (ECICS).
ECICS Limited is a 'homegrown' insurer, tracing its roots as far back as 1975. The company offers various insurance products, such as domestic worker, home, and personal accident insurance. And naturally, of course, ECICS also offers comprehensive car insurance coverage for local motorists, with interested customers even having the fuss-free option of getting an instant quote via its website.
Among the main benefits of insuring with ECICS are a special Excess Waiver, which waives up to $750 excess for your first repair claim at any of the company's 25 authorised workshops islandwide, and free No Claims Discount (NCD) Protection, a complimentary cover that helps protect losing your NCD due to claims made against the policy.*
With its understanding of the local market and commitment to building long-term relationships, ECICS emphasises that its goal is "to provide peace of mind as you go about your daily life".
Oh, to be a part of something big
Now on to the more technical part: Fractional shares. What exactly are they? To put it in local context, imagine a single share of Tesla being akin to a $3 plate of chicken rice. Now, imagine you only have 30 cents in your wallet and the hawker doesn't accept PayNow, but you're able to purchase a tenth of that plate. That, essentially, is a fractional share.
But a Tesla share is far from the price of a plate of chicken rice, and a fractional share of Tesla is far from a few silver coins. Thus, a fractional share of a plate of chicken rice may seem like pocket change, but a fractional share of Tesla will seem like a week's worth of groceries, or two, if you budget it right.
This is where ECICS Limited comes in. The company is currently running an online promotional campaign, called "Tesla Motor Insurance Fractional Shares", jointly organised with Phillip Securities, where Tesla owners who buy their insurance with ECICS will be able to redeem fractional shares in Tesla.
The campaign will last all the way till 31 December 2025, so fret not, there's still time if you're seriously considering signing up. ECICS will also be offering 15% off the car insurance as yet another added perk, applicable by typing "SPECIAL15" in the promo code box.
But wait, there's more
In addition, new clients of Phillip Securities will also be eligible for additional Tesla Fractional Shares, subject to their terms and conditions.
The Tesla Motor Insurance Fractional Shares campaign will only be applicable for Tesla Motor Insurance policies that are renewed with ECICS or for newly purchased ones via the ECICS website. Interested customers can find out more via this link.
Owning a small piece of a big pie and basking in the knowledge that you're properly insured seems like a pretty sweet deal to me.
*Terms and conditions apply
