Bad mistake in claiming insurance........

[Rastaman01]

oh ok cause mine now ya the other party till now have not reported yet and it has been 2 months...............so basicly what i get the premium now is taking into consideration the other party or not?? if not ya it means next yr if the other party claim will my premium go higher.......and after how long ya if other party never claim then considered cant cflaim anymore......cause up till now the person never report

[Silver_blade]

Probably have not factored in the other claim. Better to confirm with your insurance co.

[Rastaman01]

oh means can call ask ah..........

[Silver_blade]

No harm finding from them the reason for the higher premium and have they factor in their other party's claim, etc...

Edited September 19, 2008 by Silver_blade

[Watwheels]

U really jia lat man. I think u should post this question here earlier if u dunno what to do. Not knowing what to do and dun wanna ask is the bigger mistake. U really will learn it the hard way and thanks for contributing to the already high premiums we have to pay.

[Sony]

Act Blur if U want to change Insurance [laugh]

 

 

doesn't work.. they will always check with your previous insurer

[Sony]

You can try asking around. But I think most will not want to accept your application. Even if those will accept, will charge you a lot of money. Best bet is to remain with the current one until your record is cleared.

 

 

not really.. some don't even want to renew.. best to source ard..

[Silver_blade]

Agree, some will not want to insure....especially the claim was to high.

[Tangcy]

Same here, after 2 claims, my insurer refuse to renew my insurance. Then they send the claim details to me and I was shocked to see how much the workshop claimed.

 

Called up couple of ins co. and they said "Sorry, we can't quote"...... no choice then try our biggest co., aunty lucy, which they quoted $3k+...

 

Then comes MSIG, premium abt $2.7k and if pay with DBS, another $100 petrol voucher with 12mths instalments.

 

Now have to slowly earn back NCD. Hope this helps.

[Ccssgm]

BRO what u mean ah

 

Since previous Insurance U know will be 0% NCD and with hHigher premium

Change another new insurance Start All fresh again

Premium will be Lower

[Tigershark1976]

Hi guys.......i made a mistake la in claiming insurance for my accident in which i banged the other person....n now my premium went toooo high ........If my insurance going to be due soon, can i change company and any1 has any kangtao for insurance

 

the only legal way that u can do is to change the car ownership to your parent/ spouse whi have a clean record. use his/her name for the insurance... its a bit troublesome but its legal, and its gg to be cheaper..

[Xxxcobraxxx]

Actually, u can try ask the agent to put higher on excess. Maybe say like $5,000. I think some insurance companies will take u. Premium will be much lower as well.

[Modykoh]

Hi guys.......i made a mistake la in claiming insurance for my accident in which i banged the other person....n now my premium went toooo high ........If my insurance going to be due soon, can i change company and any1 has any kangtao for insurance

 

i don think is a mistake at the first place.

the insurance system work in the way as such that wat ever thry payout, they will recover a portion of it ...so that is defer insurance claim, if possible share the the payout...go fot eh NCD protection ...it help a bit..

[Inadatan]

if the fixtures is below 1k value. better not claim any insurance.. by 3 yearst they'll be able to claim more than wat you paid.

[Modykoh]

yap...if oth party is miminal...

 

that got to depend on the claims nature..yours as well as the tp(third party)

the tp can not be controlled...so ended up the insurance will mark up as well...

[Inadatan]

also there's a minimum payment of own car at appx 400 - 500.

 

so if the 3rd party car fixture is below 1k, you pay 400 + appx 1000 back to insurance company = total of 1,4k to the insurance company in 3 years time which is appx same to wat you pay if you do your own fixtures.

[Silver_blade]

[....the only legal way that u can do is to change the car ownership to your parent/ spouse whi have a clean record. use his/her name for the insurance... its a bit troublesome but its legal, and its gg to be cheaper..

It may not the cheaper if TS's car was bought new and still on loan. The increase in his premium is only $1.5k. Transfer fee alone is almost this amount + getting a new loan that come with 'used' car interest rate (higher than new car's).