Help! NCD reset to 0!

[To_be_advised]

what to do. we are at their mercy

[Mrel]

TS u mentioned your report an accident. Did you do any cliam on 3rd party? Just curious to ask here.

Nope. Did not claim the other party.

 

[Tiger1]

To a certain degree, govt allow these stupiap ins coy to do what they are doing. No control at all. Dun tell me have. Even if show proof to me i also dun believe.

 

Motor ins must confirm chop make money yr on yr.. Cannot lose one. If lose, increase premium. Kns. Worse thing s....car owner MUST have car ins by law! Lai lai ki ki, all of us kana sqeeze by the same od ins coys.

 

Same like petrol price, all coys selling at the same price? Halo, u think possibe boh???

 

Talking abt tat CASE thing lagi funny. Got mouth but NO teeth. Say so much, at the end f the day, cannot do anything. WAT A JOKE!!

 

Must take a break now liao. If not, my blood pressure go up again. NB.

[0wnage]

Need help from you guys.

 

My insurance is expiring and I called DA to check my upcoming NCD and quote. To my horror, I was told that my NCD is reset to 0 because I reported an accident in August.

 

It was a minor accident (not my fault), and after the CSO checked, no claim was filed against me. She told me that if I were to reinstate the NCD, I need to sign an undertaking form to bear all liabilities for this accident.

 

Is this the standard practice? Should I go ahead and sign the undertaking form? If I move to another insurer, my NCD would be still 0 unless I sign that form?

 

 

Thanks in advance

Whose fault was the accident? Yours or the other party? If it's yours and no claim, NCD should not be affected.

If you were less than 20% at fault under BOLA standard, your NCD should not be affected too.

[0wnage]

Thanks for the all the advise.

 

Really appreciate it.

 

Think I will undertake , because the other party did not file any claims. I suspect she did not even know her car hit mine. I reported this accident coz I heard of the 24hr reporting window period. Turns out to be so troublesome... Sigh.

 

Just saw this after I posted the previous post. If you're not at fault at all (other party hit your back), there's no reason that your NCD is affected.

Anyway, why not try another insurance company?

I believe you can get your 10% or 20% NCD there.

[Timbuktu]

Yup, since no claims are filed, why cant give NCD? Need to consumer to undertake the liability. Insurance really bao jiak.

It is to indemnify the insurer of all risk exposure and liability ... in the event that the third party could still fila a claim against you later.

By then, you could already have jumped ship to another insurer!

 

[Simonsoh]

Need help from you guys.

 

My insurance is expiring and I called DA to check my upcoming NCD and quote. To my horror, I was told that my NCD is reset to 0 because I reported an accident in August.

 

It was a minor accident (not my fault), and after the CSO checked, no claim was filed against me. She told me that if I were to reinstate the NCD, I need to sign an undertaking form to bear all liabilities for this accident.

 

Is this the standard practice? Should I go ahead and sign the undertaking form? If I move to another insurer, my NCD would be still 0 unless I sign that form?

 

 

Thanks in advance

 

I believe u did not get the other party to sign a no claims or self settle letter? Same thing happen to me. I use DA's standard "accident reporting with no claims/ self settle" form, got the other party to sign. ok leh, they never touch my NCD. very professional. If you never let the other party sign the "will not claim/ self-settle" letter, then u cannot blame DA, any other coy will also do the same.

[Nzy]

Got this experience as well. As long as never come to agreement not to claim each other, the NCD will be gone temporarily. Must sign a letter of undertaking if you want it back. For mine they asked me to sign the letter stating that 6 months later if never hear from the other party then consider as no claim.

[Tigershark1976]

It is to indemnify the insurer of all risk exposure and liability ... in the event that the third party could still fila a claim against you later.

By then, you could already have jumped ship to another insurer!

 

but question is, the premium is paid to cover a period of time, and if the accident happen during the mentioned period, it should be covered by the paid premium. Whether the customer change their insurance policy with another company, its non of the "ex-insurer" business. The insurer would hv calculate the risk and charged the customer accordingly.

 

 

 

 

[Mllcg]

remove the compulsory from insurance and they will BEG you to re-sign with them..

 

1st year promo.

 

no claim promo(cash rebate if u re-sign)

 

non central database...

[Timbuktu]

but question is, the premium is paid to cover a period of time, and if the accident happen during the mentioned period, it should be covered by the paid premium. Whether the customer change their insurance policy with another company, its non of the "ex-insurer" business. The insurer would hv calculate the risk and charged the customer accordingly.

On paper only, but not in practice.

Usually insurers go all the way to protect / reduce their liabilities.

You can say all you want, it won't matter.

They hold the (claims) purse strings.

 

[Vhtfhwlego]

Complain so much here....

Why so many support AXA?????

 

Birds of the feather flock together....

[Vhtfhwlego]

And i really wonder how they charge premium....

 

For example:

My 2005 car value at S$35K while paper at S$24K.... Premium S$2.1K....

 

If that I were to drive the same model but reg in 2012, it would had valued at S$70K (paper assume S$30K), premium at S$2.3K

 

Differences: (2005) @ S$11K / (2012) @

[inlinesix]

To a certain degree, govt allow these stupiap ins coy to do what they are doing. No control at all. Dun tell me have. Even if show proof to me i also dun believe.

 

Motor ins must confirm chop make money yr on yr.. Cannot lose one. If lose, increase premium. Kns. Worse thing s....car owner MUST have car ins by law! Lai lai ki ki, all of us kana sqeeze by the same od ins coys.

 

Same like petrol price, all coys selling at the same price? Halo, u think possibe boh???

 

Talking abt tat CASE thing lagi funny. Got mouth but NO teeth. Say so much, at the end f the day, cannot do anything. WAT A JOKE!!

 

Must take a break now liao. If not, my blood pressure go up again. NB.

Biz is out to make $$, right?

 

The best is B M W

[inlinesix]

remove the compulsory from insurance and they will BEG you to re-sign with them..

 

1st year promo.

 

no claim promo(cash rebate if u re-sign)

 

non central database...

The compulsory is on 3rd party liability. If don't have 3rd party liability, are you sure you could afford to pay? Especially long-tail medical claims.

[inlinesix]

And i really wonder how they charge premium....

 

For example:

My 2005 car value at S$35K while paper at S$24K.... Premium S$2.1K....

 

If that I were to drive the same model but reg in 2012, it would had valued at S$70K (paper assume S$30K), premium at S$2.3K

 

Differences: (2005) @ S$11K / (2012) @

[Nzy]

remove the compulsory from insurance and they will BEG you to re-sign with them..

 

1st year promo.

 

no claim promo(cash rebate if u re-sign)

 

non central database...

 

I don't think it will be good to make it non compulsory. If someone hits you and doesn't have the money to pay how? Or if you accidentally hit a car and you can't afford to pay thats even worse.

 

Anyway don't want to pay so much just get third party lo. Mine I am using third party only since I got my license and first car. Never bought comprehensive before.

Edited October 3, 2012 by Nzy

[Acemundo]

As long as it's the person's fault, his NCD will be remove be it claim or no claim?

no fault also removed like our dear ts.