Insurance claims info

[User12343]

got this info from another forum....

 

as one can see, insurers are sibeh chaokuan in paying the loss of use & rental for private cars, whereas they have big appetite for transport companies.....really unfair.

 

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Recently got into accident with comfort cab. They have attached their benchmark rates for the cost of rental and loss of use. Hope you guys may not need to refer to it, but this is good reference. Quotations provided by comfort's insurer Tokio Marine.

 

Private cars (per day)

 

<1800cc rental = $100 loss of use = $50~$60

>1800cc rental = $120~$180 loss of use = $80~$100

Luxury cars = $200 or more loss of use = $120~$180 (luxury cars, eg. Porsche, Ferrari) (also # of days must refer to surveyor's reports)*

 

*note that this is important. eg. if surveyor's report states that the estimated days of repair is 3 days, you are only reimbursed for 3 days only. if the car is in the workshop for >3 days, then LL cannot dispute.

 

Motorcycles

 

<1400cc = NA loss of use = $20~$30

>1400cc = NA loss of use = $30~$40

 

Taxis (per day)

 

Normal taxi = see notes** loss of use = $110~$120

London cab/merc cab = see notes** loss of use = $150~$170

 

** inclusive of driver's income. if income tax returns show >$60 per day, rates can be increased.

 

Commercial vehicles

 

Vans/pickup = $60~$100 loss of use = $60~$120

Private non-hire bus = $200~$250 loss of use = $90~$150

Lorry = $200~$250 loss of use = $90~$150

 

Additional factors to be considered is the size of vehicle and type of usage.

 

TIBS buses

 

Bendy bus = NA loss of use = $325~$350

Single-deck a/c bus = NA loss of use = $250~$275

Bus plus = NA loss of use = $150

 

Official rates are usually higher but the above rates are generally accepted.

 

SBS buses

 

Single-deck a/c bus = NA loss of use = $250

Single-deck non a/c bus = NA loss of use = $200

Double-deck a/c bus = NA loss of use = $200~$350

Double-deck non a/c bus = NA loss of use = $170

 

Rates may change from year to year depending on earnings of the company.

[Ultramega]

it's logical because:

 

private vehicle damaged = loss of use, that's all.

 

company vehicle damaged = loss of use + loss of income.

[User12343]

what to do? the system is so skewed, and the T&C are to their advantage....