How much do u pay for car insurance?

[Brchen]

Advise needed

 

I met a hit & run accident last year, and I make a police report and accident report to authorised workshop within 24hrs.

I did not make any claim as it is a minor scratch at the side guard of my rear tyre.

 

However the insurance reduce my NCD from 40% to 0% for my renewal this year, claiming that they need to reserve an amount in case the third party claim against me.

 

I argued with them on this as I am the victim, and was given an option to reinstate my NCD by signing a letter of undertaking whereby I will take over the conduct of all matters relating to this accident. Should there be a claim in the future, it shall be referred to me for handling. Where legal assistance is required, I will have to appoint my own lawyer and all costs payable shall be borne by me. The insurance company will no longer handle the claim.

 

Now I am considering whether to sign this undertaking and if there is a claim by the third party, where can I get lawyer that specialise in this kind of claim.

Issit worth to sign this undertaking?

[Shinigaimi]

Advise needed

 

I met a hit & run accident last year, and I make a police report and accident report to authorised workshop within 24hrs.

I did not make any claim as it is a minor scratch at the side guard of my rear tyre.

 

However the insurance reduce my NCD from 40% to 0% for my renewal this year, claiming that they need to reserve an amount in case the third party claim against me.

 

I argued with them on this as I am the victim, and was given an option to reinstate my NCD by signing a letter of undertaking whereby I will take over the conduct of all matters relating to this accident. Should there be a claim in the future, it shall be referred to me for handling. Where legal assistance is required, I will have to appoint my own lawyer and all costs payable shall be borne by me. The insurance company will no longer handle the claim.

 

Now I am considering whether to sign this undertaking and if there is a claim by the third party, where can I get lawyer that specialise in this kind of claim.

Issit worth to sign this undertaking?

 

 

Yah. You are a victim. I doubt you need to sign any documents.

 

I just help one client of mine to do third party claim. Same as yours. Victim of hit-and-run. But he bought TPFT. He went to his own workshop to do the paperwork to claim. No effect on the ncd.

 

Which co. did u get it from?

 

 

[Brchen]

AXA

 

Wat is TPFT?

[Shinigaimi]

AXA

 

Wat is TPFT?

 

 

Third Party Fire & Theft. His is a coe car.

 

Actually, upon thinking it. The letter is quite meaningless. Cause u will nv go through their lawyer to claim. You can claim more if you go through your own workshop.

 

And if really someone want to claim u... they can't denied their responsiblity by asking u to sign anything. It is against the law. Insurance is bought so that you are protected from the third party claim.

 

But i agreed it is quite pissed off if they ask u to sign anything...

[Ethene]

SHC

23 yr

COE EK4

Indoor Admin (black and white only)

0% NCD

4 yr driving exp

 

$2100...

 

 

}

else if

{

occupation == real

 

then

 

Insurance == $4000

}

}

[Ghostrider]

Dun sign. If suay suay the other party come and claim you have to fork out your own cash if you lose.

 

Even if you sign, dun expect them to reinstate your NCB immediately.

 

Eg...from the date of accident, 1 year later then they will reinstate your NCB. Kenna bang on 1st Jan 2009 your NCB will be reinstated on the 1st Jan 2010. (even if it overlaps your insurance period). They will refund you the excess that they took from you when you renew your insurance.

 

From what I understand from a friend, civil liability period is 6 years....say someone was injured, they reserve the rights to file a claim within 6 years of the accident. ie...if 2014 Jan 1...the guy files a claim, you are still liable.

 

So suck it up...and pay first.

 

In future...if you are not gonna claim...just file a report with insurance can liao...once the police is involved, your NCB will be affected. In your case, its ok cos no injury...you won't know cos you were not present when it happen.

[Kanchelsk]

Lancer EX Sports 1.5

 

Premium $2,127.86/-

 

NCD 40%

+ COM 5%

 

$1297.78/- with Own Damage excess $500

 

[Yeshe]

2.4L SUV

 

50% NCD, $0 excess 1st claim, $800 thereafter

age : 37

 

$850

[Babyt]

AXA quoted my father 950 and he paid liao...

 

then Royal and Sun Alliance quoted $800 ... late reply ... sigh =(

[Gh05tss]

Latio Sport

 

NTUC SGD600 after less 50% NCD, been driving for almost 20 years

[Mustank]

whoa your one cheap man!

 

my one is 1600 for comprehensive and 1100 for Third party fire and theft

 

my truck is on the 5th year already

 

no loan

 

should i do compreensive or TPFT?

[Mivec9]

whoa your one cheap man!

 

my one is 1600 for comprehensive and 1100 for Third party fire and theft

 

my truck is on the 5th year already

 

no loan

 

should i do compreensive or TPFT?

 

 

of course tpft since no loan

[Mustank]

thanks man!....i am more inclined to tpft

i think i will switch to 3rd party on 7th or 8th year

[Tonyg]

i paid 827 with Driveshield, actually from MSIG. And still can get $80 voucher ( THough you have to minus 10% value cos if you want tp use the voucher then no 10% onsite discount)

 

But still better than nothing.

 

Bro, just read this thread, can I pls know who is MSIG? What is DBS Shield? Sorry to trouble u. TIA

 

[Skiver]

About $1.7plus for first time driver in 30s..

[Placebo]

got 2nd hyundai getz from teck wei credit.

loan approved already but insurance was quoted 6k!

told SE i want to get my own insurance but was told that gotta pay penalty fee of $300....

I'm 25 this year with >1 of experience.

 

[Antisocial]

Corolla G7, under my dad's name NCD 50% $500!

[Lengendcf]

MATRIX 1.6

50% PLUS 5%

30PLUS

COMPREHENSIVE

$653

TOKIO MARINE