Renewing Insurance while Claim Settlement Pending

[Charmet]

Dear all,

Would like to seek your advice on renewing my insurance for my vehicle. I was involved in a rear collision along Adam Road on 6 Mar 2015. Black Mitsubishi Lancer rear-ended me at about 80kmh. More details on that accident here:

Front Cam: http://youtu.be/WlwiJBCN4aw

Back Cam: http://youtu.be/I_EmiGzmBAA

Vehicle is under a year old and I am insured under AIG. Have 0% NCD as this is my first vehicle. I decided to claim my own insurance and get Borneo Motors to file the claims for me and speed the procedure up. I am aware of the options of claiming under 3rd Party etc. But I am not interested in Crocodile workshops as I know their practice of inflating claims. More importantly, my vehicle is still under warranty and BM has stopped bringing the vehicle in (don't wish to void my warranty just for some accident).

My insurance is up for renewal in end May, and I'm sure the case will still be pending then. While it's clear the case is 100% in my favour, I believe there will be insurance loading on me, while the case is pending. I accept that as it's the norm.

So, my question. Once the case is settled and ruled 100% in my favour, what can I do to revise the rate of my insurance? Or do I renew my insurance for a shorter duration (is that even possible), accepting that that's the way the companies work? Happy to also hear that I don't have much choice but to pay more for the duration of insurance coverage, until I am cleared of any responsibility. Truth be told, I thought I was lucky to walk away unscathed after looking at the videos.

 

Any advice appreciated. :)

[Sp4wn]

first off, that lancer driver is an idiot. with so much room also can't gauge road conditions? must be driving distracted for sure ... that's an extremely laaaaaarge gap.

 

anyway, regarding your question, dont think you have much to worry about lah. my accident repairs were nearly $100k (same boat as you, 0% liability on my part) and there was no insurance loading le.

 

but out of curiosity - why should there be insurance loading against you, unless you have been in multiple accidents / multiple claims etc? correct me if im wrong, but loading is for those who continually get into accidents right? did i overlook some detail in your post as to why you would be susceptible to higher loading?

[Adrianli]

first off, that lancer driver is an idiot. with so much room also can't gauge road conditions? must be driving distracted for sure ... that's an extremely laaaaaarge gap.

 

anyway, regarding your question, dont think you have much to worry about lah. my accident repairs were nearly $100k (same boat as you, 0% liability on my part) and there was no insurance loading le.

 

but out of curiosity - why should there be insurance loading against you, unless you have been in multiple accidents / multiple claims etc? correct me if im wrong, but loading is for those who continually get into accidents right? did i overlook some detail in your post as to why you would be susceptible to higher loading?

 

She is doing a self claim cos she going back to AD for repair. AD dont do third party claim.

[Adrianli]

You will need to call ur insurance and check with them.

 

For mine, I did a self claim and MSIG sent me a revised quotation for my renewal. When they had sent me an earlier invitation for renewal. I had NCD protector which was used to prevent my NCD dropping to 20%.

Edited March 10, 2015 by Adrianli

[Sp4wn]

 

She is doing a self claim cos she going back to AD for repair. AD dont do third party claim.

 

didnt miss that part bro.

 

i also did own claim remember (not that i had a choice anyway ... haha) plus i also went back to AD.

[Adrianli]

 

didnt miss that part bro.

 

i also did own claim remember (not that i had a choice anyway ... haha) plus i also went back to AD.

 

Once u do self claim, those insurance company will immediately increase your renewal premium. For my case, they send me a revised quotation for my renewal.

[Sp4wn]

 

Once u do self claim, those insurance company will immediately increase your renewal premium. For my case, they send me a revised quotation for my renewal.

 

weird. didnt happen in my case le. *shrugs*

[Vid]

Dear all,

 

Would like to seek your advice on renewing my insurance for my vehicle. I was involved in a rear collision along Adam Road on 6 Mar 2015. Black Mitsubishi Lancer rear-ended me at about 80kmh. More details on that accident here:

 

Front Cam: http://youtu.be/WlwiJBCN4aw

Back Cam: http://youtu.be/I_EmiGzmBAA

Vehicle is under a year old and I am insured under AIG. Have 0% NCD as this is my first vehicle. I decided to claim my own insurance and get Borneo Motors to file the claims for me and speed the procedure up. I am aware of the options of claiming under 3rd Party etc. But I am not interested in Crocodile workshops as I know their practice of inflating claims. More importantly, my vehicle is still under warranty and BM has stopped bringing the vehicle in (don't wish to void my warranty just for some accident).

 

My insurance is up for renewal in end May, and I'm sure the case will still be pending then. While it's clear the case is 100% in my favour, I believe there will be insurance loading on me, while the case is pending. I accept that as it's the norm.

 

So, my question. Once the case is settled and ruled 100% in my favour, what can I do to revise the rate of my insurance? Or do I renew my insurance for a shorter duration (is that even possible), accepting that that's the way the companies work? Happy to also hear that I don't have much choice but to pay more for the duration of insurance coverage, until I am cleared of any responsibility. Truth be told, I thought I was lucky to walk away unscathed after looking at the videos.

 

Any advice appreciated. :)

 

Shouldn't have claim your own insurance. Should have let the insurance claim from the other party. Your premium will go up and it won't come down even if you win the case.

[Adrianli]

 

weird. didnt happen in my case le. *shrugs*

 

For me :

Original renewal letter was Premium $800+ Excess $300 NCD 50%.

 

After self claim($7,000+) with NCD Protector..........

 

 

Revised renewal letter was Premium $1,500+ Excess $2,500 NCD 50%.

[Sp4wn]

 

For me :

Original renewal letter was Premium $800+ Excess $300 NCD 50%.

 

After self claim($7,000+) with NCD Protector..........

 

 

Revised renewal letter was Premium $1,500+ Excess $2,500 NCD 50%.

 

i just double checked to make sure i didnt remember wrongly. lucky my car file is in my drawer.

 

confirm my insurance and premium did not go up. it actually decreased a little (just the premium, excess remained the same - 7.5k)

[Charmet]

but out of curiosity - why should there be insurance loading against you, unless you have been in multiple accidents / multiple claims etc? correct me if im wrong, but loading is for those who continually get into accidents right? did i overlook some detail in your post as to why you would be susceptible to higher loading?

 

Nope. I have been driving for 11 years now. Have never been involved in any accidents precisely because I have always been a patient and careful driver. (You'll notice from the front video that I left more than enough room from the vehicle in front. Had I not done so, there would be another driver whose car would be left in the workshop :p)

 

For now, I let BM do the necessary, and once AIG pays them in full for the repair works, BM will take the independent surveys etc from AIG and counter claim it against the other person's insurance company, TenetSompo.

 

Just curious Bro Sp4wn, how come you weren't affected? Personally I'm already paying a bomb for AIG (no NCD, 2.7k per annum because I was in the 21 to 30 category last year).

 

Was looking forward to a lower premium this year. Guess not.

 

PS: Bro Adrianli, I am an Uncle too, not a she :p

[Sp4wn]

 

Nope. I have been driving for 11 years now. Have never been involved in any accidents precisely because I have always been a patient and careful driver. (You'll notice from the front video that I left more than enough room from the vehicle in front. Had I not done so, there would be another driver whose car would be left in the workshop :p)

 

For now, I let BM do the necessary, and once AIG pays them in full for the repair works, BM will take the independent surveys etc from AIG and counter claim it against the other person's insurance company, TenetSompo.

 

Just curious Bro Sp4wn, how come you weren't affected? Personally I'm already paying a bomb for AIG (no NCD, 2.7k per annum because I was in the 21 to 30 category last year).

 

Was looking forward to a lower premium this year. Guess not.

 

PS: Bro Adrianli, I am an Uncle too, not a she :p

 

no idea le. was hit by a drunk driver and tried to claim against him, found out couldnt.

 

i just went through all the accident paperwork from 2011 to 2012. the only thing i strongly recall was telling them that if they dare increase my insurance or try any funny business, i will write in to ST (since TP says there was absolutely nth i could do in my case) and get them to answer me there.

 

i simply called their bluff i guess. because for me, if im 100% sure i did nth wrong, and they still penalize me, i am sure people will also ask why corporations can be so unfair to innocent parties. so i guess they backed down? never really considered this loading issue.

 

(you and I are about roughly about the same age as well)

[Vid]

PS: Bro Adrianli, I am an Uncle too, not a she :p

 

[laugh] I wanted to ask Adrianli how he know you are a *she*...

 

You answered my doubt already

[Vid]

 

i just double checked to make sure i didnt remember wrongly. lucky my car file is in my drawer.

 

confirm my insurance and premium did not go up. it actually decreased a little (just the premium, excess remained the same - 7.5k)

 

Your insurance very expensive [sweatdrop]

[Sp4wn]

 

Your insurance very expensive [sweatdrop]

 

3.3k previously. now 3k.

 

ok le.

 

but the cheapest i have *personally* seen is 1.8k for a lambo.

[Charmet]

 

no idea le. was hit by a drunk driver and tried to claim against him, found out couldnt.

 

i just went through all the accident paperwork from 2011 to 2012. the only thing i strongly recall was telling them that if they dare increase my insurance or try any funny business, i will write in to ST (since TP says there was absolutely nth i could do in my case) and get them to answer me there.

 

i simply called their bluff i guess. because for me, if im 100% sure i did nth wrong, and they still penalize me, i am sure people will also ask why corporations can be so unfair to innocent parties. so i guess they backed down? never really considered this loading issue.

 

(you and I are about roughly about the same age as well)

 

Maybe I'll give it a shot and do what you did to kick up a fuss. At most they will think I'm a monkey and just slap with the higher premiums anyway!

 

Though my wife and other friends were telling me I should count myself lucky. Whenever I relook the accident, I keep thinking I was damn lucky to walk away unscathed. Had I been on a bike, I would either be dead or crippled for life.

 

Oh, and it didn't help that the AIG damage assessor and BM mechanic looked at my video and said the other driver didn't even brake, and went into me at about 80kmh.

 

*shudder*

Edited March 10, 2015 by Charmet

[Sp4wn]

 

Maybe I'll give it a shot and do what you did to kick up a fuss. At most they will think I'm a monkey and just slap with the higher premiums anyway!

 

Though my wife and other friends were telling me I should count myself lucky. Whenever I relook the accident, I keep thinking I was damn lucky to walk away unscathed. Had I been on a bike, I would either be dead or crippled for life.

 

Oh, and it didn't help that the AIG damage assessor and BM mechanic looked at my video and said the other driver didn't even brake, and went into me at about 80kmh.

 

*shudder*

 

your accident and mine is similar.

 

except mine was a drunk driver who was doing 80km/h when he rammed into me head on.

 

both my airbags deployed (even the passenger one, even though there was nobody in the seat luckily). i was completely stationary and the guy pushed me a good 1-2m backwards (even though i was stepping on the brakes)

 

completely shattered the carbon fibre frame that was around my engine and crushed the two turbos as well.

 

and yes, like you, i am happy to walk away with just a few bruises.

 

i wasn't afraid to kick up a fuss because even the MP i spoke to didnt even know you cant claim against drunk drivers. so if MP dont know, how the hell they expect to stick me with the bill?

[Opel17]

Just to share my case few years ago.

Was rear-corner-ended by Sg car in JB.

STA advised to do self claim in order for repair to proceed without undue delays. Each party liability would be judged in due course, don't know when. If insist on claims from the other party, then repair have to wait.

The other party insurance survey was arranged before repair started.

3 months later, increased MSIG insurance offer came in. Claims not yet settled.

Fortunately, few weeks on, claims was ruled in my favor, before renewal of insurance. STA provided settlement form to sign, and issued cheque for 3 days loss of use.

MSIG revised the insurance offer.