Lengthy Insurance Claim

[Nzy]

Actually SG car insurance is quite disgusting... For the cheap car that I had, the insurance that I paid are as follow:

Year 1 $2300

Year 2 $1700

Year 3 $1400

Year 4 $1100

 

Insurance company never lose $ on my case before... Car is cheap $40k car, insurance paid is close to 20%. What a sham!

 

Actually SG one already considered not bad ma. My cousin bought car in Australia when he was studying and his insurance premium cost more than his car. In SG hardly hear people having insurance premium that is higher than the cost of the car.

6K? Y he dun wan claim insurance? Or izzit bcos on probation kena accident will be worse than the 6K?

 

Cuz excess for young driver can be very high. I rmb mine used to be 5k for driver under 25.

[LoneCatFish]

 

Actually SG one already considered not bad ma. My cousin bought car in Australia when he was studying and his insurance premium cost more than his car. In SG hardly hear people having insurance premium that is higher than the cost of the car.

 

That's because Australia car price very cheap.

 

Singapore car price almost 5-10 times of Australia price.

Edited August 1, 2014 by LoneCatFish

[Nzy]

 

That's because Australia car price very cheap.

 

Singapore car price almost 5-10 times of Australia price.

 

Yeah. So for the kind of coverage we get also not so bad for the amount we pay already right? Considering how much they got to compensate if total loss.

[Kangadrool]

more for coverage in case of 3rd party claims rather than total loss.

 

 

Yeah. So for the kind of coverage we get also not so bad for the amount we pay already right? Considering how much they got to compensate if total loss.

 

[ExigeTan]

 

Actually SG one already considered not bad ma. My cousin bought car in Australia when he was studying and his insurance premium cost more than his car. In SG hardly hear people having insurance premium that is higher than the cost of the car.

 

Cuz excess for young driver can be very high. I rmb mine used to be 5k for driver under 25.

 

Cars in Australia can be had for only a few Ks - then an inexperienced driver in a sports car = gao gao

[Johnnylim]

fwa lan 9k!? spray gold powder on the bumper and all the replacement parts?

Of course anyhow claim gao gao coz the other party authorized agent knew claiming insurance. If settled privately by outside or regular workshop, maybe only abt 1k as said by TS. He renewed insurance with increase of $400, but dun know the increased amt will stuck for how many years, end up will be more than >1K.

 

End of the day, we are the losers

[Civic101]

Of course anyhow claim gao gao coz the other party authorized agent knew claiming insurance. If settled privately by outside or regular workshop, maybe only abt 1k as said by TS. He renewed insurance with increase of $400, but dun know the increased amt will stuck for how many years, end up will be more than >1K.

 

End of the day, we are the losers

I was on NCD protector and claimed about $20k for an accident, both myself and the other party, the premium only increased for one year, subsequent year premium back to before accident amount. So I think it is very important to get the NCD protector by paying a 10% premium if you are eligible.

[WONWON]

I was on NCD protector and claimed about $20k for an accident, both myself and the other party, the premium only increased for one year, subsequent year premium back to before accident amount. So I think it is very important to get the NCD protector by paying a 10% premium if you are eligible.

 

Bro, which insurer are you with? Please share. thanks.

[1fast1]

 

Actually SG one already considered not bad ma. My cousin bought car in Australia when he was studying and his insurance premium cost more than his car. In SG hardly hear people having insurance premium that is higher than the cost of the car.

 

In OZ, cars are cheap (especially domestics) but labour costs (for repair) and medical costs are high. No surprise.

Edited September 16, 2014 by Turboflat4

[Knoobie]

Hi all, just to update and share the infor.

 

The other party finally got his car repaired after nearly 2 months of waiting, claimed about 9k on my insurance.

 

Also just got my insurance renewal quote. With NCD protector, my net premium increased from 1.7k to 2.1k, inclusive of on-going NCD protector.

 

 

lol.. jin funny.. got NCD protector premium also increase.. maybe they will come up with a new scheme call "Protector of NCD protector".

 

confirm chop premium won't increase?

[Kangadrool]

they just need to increase your premium. With or without protector, probably makes little difference as if you have protector, they increase more, if no protector, they increase less. Never believe this type of protector. Die die, they must make you pay this amount of premium when there's a claim.

 

lol.. jin funny.. got NCD protector premium also increase.. maybe they will come up with a new scheme call "Protector of NCD protector".

 

confirm chop premium won't increase?

 

[alex976]

 

In OZ, cars are cheap (especially domestics) but labour costs (for repair) and medical costs are high. No surprise.

 

Thats y my friends there change cars like change clothes liddat.

 

The irony is owning a car can claim income tax rebate leh.

[Fantasize]

Actually SG car insurance is quite disgusting... For the cheap car that I had, the insurance that I paid are as follow:

Year 1 $2300

Year 2 $1700

Year 3 $1400

Year 4 $1100

 

Insurance company never lose $ on my case before... Car is cheap $40k car, insurance paid is close to 20%. What a sham!

 

It is more advisable to go for multiple quotes when purchase of your car insurance.

[Fibo]

 

It's a misconception that the party at fault choose to pay for the repair, unless it's very small amount, and just want to avoid the reporting paperwork.

 

Generally, whatever the total sum up increase in the follow years insurance cost will still be lesser than the repair cost paying upfront.

i fully agreed!

 

if you claim insurance (for repair) and the premium increase in following year is less than the repair cost, you should claim insurance! Otherwise, keep protecting NCD and not claiming insurance, what do you buy insurance for?

[Joshterran]

Dear MCF members, i would like to seek your kind advice on my friend's car accident claim.

 

Last Thursday 5/5 morning, my friend car was rear banged by a "urgent" car whose cannot brake in time. Ambulance & TP came. Was told by TP to make police reports.

 

He informed his car insurance company and was told to drive to their authorised workshop in Bt Merah where he submitted all proper documents. However, my friend was told by his WS tat the fault car party insurance company wants to declare total loss for his car cos his car has less than 6 months of COE which he declined as he is the first driver & intend to renew his coe upon expiry.

 

Please kindly advise what to do if :

a) the other party insurance keep delaying the process

b) the other party insurance insist in declaring total loss which he don't accept

c) what other channels are available to address this issue

 

Your advice is greatly appreciated to help this poor friend of mine.

 

Thank you in advance. Cheers !!

Edited May 12, 2016 by Joshterran

[Axela72]

Dear MCF members, i would like to seek your kind advice on my friend's car accident claim.

 

Last Thursday 5/5 morning, my friend car was rear banged by a "urgent" car whose cannot brake in time. Ambulance & TP came. Was told by TP to make police reports.

 

He informed his car insurance company and was told to drive to their authorised workshop in Bt Merah where he submitted all proper documents. However, my friend was told by his WS tat the fault car party insurance company wants to declare total loss for his car cos his car has less than 6 months of COE which he declined as he is the first driver & intend to renew his coe upon expiry.

 

Please kindly advise what to do if :

a) the other party insurance keep delaying the process

b) the other party insurance insist in declaring total loss which he don't accept

c) what other channels are available to address this issue

 

Your advice is greatly appreciated to help this poor friend of mine.

 

Thank you in advance. Cheers !!

Wow, can after knock someone and force someone to scrap his car?

[Kusje]

Dear MCF members, i would like to seek your kind advice on my friend's car accident claim.

 

Last Thursday 5/5 morning, my friend car was rear banged by a "urgent" car whose cannot brake in time. Ambulance & TP came. Was told by TP to make police reports.

 

He informed his car insurance company and was told to drive to their authorised workshop in Bt Merah where he submitted all proper documents. However, my friend was told by his WS tat the fault car party insurance company wants to declare total loss for his car cos his car has less than 6 months of COE which he declined as he is the first driver & intend to renew his coe upon expiry.

 

Please kindly advise what to do if :

a) the other party insurance keep delaying the process

b) the other party insurance insist in declaring total loss which he don't accept

c) what other channels are available to address this issue

 

Your advice is greatly appreciated to help this poor friend of mine.

 

Thank you in advance. Cheers !!

 

What's the damaged assessed at?

 

Negotiate and see how much the insurance co is willing to pay first - they should be required to pay whatever a similar car with 6 months left is selling for in the market which is could be quite good if uber and grab are still buying used cars.

[Joshterran]

According to my friend's updates, the other party insurance has been insisting to declare total loss while my friend wants to repair.

 

The workshop quoted approx.$5k but that insurance insisted total loss. Therefore my friend was not given replacement car or anything cos the final decision is not made from tat A insurance company.