Inflated insurance claim; What to do?

[Unltd]

Aiyoh.... Everyone needs to be paid right.... Who is in Charity and not paid? Insurance has how many mouths to feed, workshop has how many, lawyers?

 

Not saying $10k is justified, but the amount of resources to look into a "case" how much is it, if you are running the company how much will you charge when so many parties are involved with so many resources? $400?

 

There's a reason why it is called private settlement, to remove costs and lower the hassle of having judge. You privately settle a dispute cheaper or go to court cheaper? Court no court fees? Lawyer fees?

 

So what car did you bang and what extent of damage? How many panels and parts? 

Oil change for japanese car, conti car, luxury car, sports car and super cars all different prices also leh..... Bicycle bang into Bugatti and the Bugatti bumper crack... is gonna cost more than the price of the bicycle....

[Mustank]

Drive car drive carefully

Don’t drive like chitty chitty bang bang

[inlinesix]

I disagree with gov stepping in, especially LTA. GIA should be the one who regulate this. You want to be like MY? Every accident must report polis and kena fine $300 no matter who is right? This is a private matter. If u disagree with the claims, then dispute it.

 

The main thing is try not to get into an accident. And he still refuse to divulge how the accident happened and what damage and what type of car is involved. How determine whether the claims are justifiable? If the other party go back AD or have special figment then how? Only his one sided account and want gov to come in. To me is absolute unjustifiable.

Halo, how come you ask GIA to regulate?

 

It is like PAP ownself oversight ownself.

 

Tightening of claims process should be done by MAS. MAS is regulator of all FI.

 

The problem is Do MAS want to get their hand dirty?

 

In other jurisdictions, regulator always take insured interest as top priority.

 

In Sg, it is the other way round.

[Victor68]

My recent experience didn't cost me additional payout including repairing my own car. 

 

As I have shared, it was a very minor brush and the other party asks for $400 as private settlement. i could do my own repair for the same amount. total cost less than $1k.

 

I decide to take the insurance route because I don't want unnecessary dispute should the other party try to be funny. since it so minor, just claim. 

 

when I saw the other party claim, I realise it was inflated beyond reasonable. of course the insurance companies will negotiate for a final settlement. all these i could and are not taking any action. 

 

The reason for sharing is that I don't agree this is good for motorists. someone has to pay. If this is better managed, we will all benefit. Of course we are all here just to chit chat, for those with vested interest, sorry, never intended to sabo your rice bowl but surely there are other more ethical jobs around. 

[Adrianli]

Halo, how come you ask GIA to regulate?

 

It is like PAP ownself oversight ownself.

 

Tightening of claims process should be done by MAS. MAS is regulator of all FI.

 

The problem is Do MAS want to get their hand dirty?

 

In other jurisdictions, regulator always take insured interest as top priority.

 

In Sg, it is the other way round.

 

Other than GIA, is there any private association where all insurance agency subscribes to?

[Adrianli]

My recent experience didn't cost me additional payout including repairing my own car. 

 

As I have shared, it was a very minor brush and the other party asks for $400 as private settlement. i could do my own repair for the same amount. total cost less than $1k.

 

I decide to take the insurance route because I don't want unnecessary dispute should the other party try to be funny. since it so minor, just claim. 

 

when I saw the other party claim, I realise it was inflated beyond reasonable. of course the insurance companies will negotiate for a final settlement. all these i could and are not taking any action. 

 

The reason for sharing is that I don't agree this is good for motorists. someone has to pay. If this is better managed, we will all benefit. Of course we are all here just to chit chat, for those with vested interest, sorry, never intended to sabo your rice bowl but surely there are other more ethical jobs around. 

 

So what car and where damage? Got photos?

 

Superficial damage does not mean there are no internal damage.

 

If you wana go insurance route, then dont blame on the cost. Who pay for surveyor fee? Who pay for rental car? Who pay for admin fee? Who pay for lawyer fee? And that is x 2 for both ur side and the other company.

 

[inlinesix]

My recent experience didn't cost me additional payout including repairing my own car.

 

As I have shared, it was a very minor brush and the other party asks for $400 as private settlement. i could do my own repair for the same amount. total cost less than $1k.

 

I decide to take the insurance route because I don't want unnecessary dispute should the other party try to be funny. since it so minor, just claim.

 

when I saw the other party claim, I realise it was inflated beyond reasonable. of course the insurance companies will negotiate for a final settlement. all these i could and are not taking any action.

 

The reason for sharing is that I don't agree this is good for motorists. someone has to pay. If this is better managed, we will all benefit. Of course we are all here just to chit chat, for those with vested interest, sorry, never intended to sabo your rice bowl but surely there are other more ethical jobs around.

The $400 claims may not the real claims.

 

There are damages beyond surface

[inlinesix]

Other than GIA, is there any private association where all insurance agency subscribes to?

All FI is regulated by MAS.

 

GIA is merely trade association of General Insurers.

[Zippaboy]

My recent experience didn't cost me additional payout including repairing my own car.

 

As I have shared, it was a very minor brush and the other party asks for $400 as private settlement. i could do my own repair for the same amount. total cost less than $1k.

 

I decide to take the insurance route because I don't want unnecessary dispute should the other party try to be funny. since it so minor, just claim.

 

when I saw the other party claim, I realise it was inflated beyond reasonable. of course the insurance companies will negotiate for a final settlement. all these i could and are not taking any action.

 

The reason for sharing is that I don't agree this is good for motorists. someone has to pay. If this is better managed, we will all benefit. Of course we are all here just to chit chat, for those with vested interest, sorry, never intended to sabo your rice bowl but surely there are other more ethical jobs around.

Your rationale is weird.

 

If the damages is so minor, might as well settle privately, get it over and done with.

 

Especially when you said the $400 and your own repairs together will come up to less than $1000.

[Victor68]

Your rationale is weird.

 

If the damages is so minor, might as well settle privately, get it over and done with.

 

Especially when you said the $400 and your own repairs together will come up to less than $1000.

rationale for reporting insurance instead of private settlement? well, i have NCB protection, so going the insurance route is fine with me. even if premium goes up by a couple of hundreds. 

 

Private settlement also fine but I don't want any trouble and wasting time on a minor accident. 

[Adrianli]

rationale for reporting insurance instead of private settlement? well, i have NCB protection, so going the insurance route is fine with me. even if premium goes up by a couple of hundreds.

 

Private settlement also fine but I don't want any trouble and wasting time on a minor accident.

Do you know that NCD protector means you have to stick to the same insurer the next year?

 

And premium increase is not for one year but for at least 3 years. Because you will need to declare any claims within the last 3 years and the insurer will load you accordingly.

 

Your couple of hundreds will be in thousands after u add it all up. Then u gona blame the insurer for falsifying or inflating your premium?

 

 

You need to wake up to reality man.

[Victor68]

Do you know that NCD protector means you have to stick to the same insurer the next year?

 

And premium increase is not for one year but for at least 3 years. Because you will need to declare any claims within the last 3 years and the insurer will load you accordingly.

 

Your couple of hundreds will be in thousands after u add it all up. Then u gona blame the insurer for falsifying or inflating your premium?

 

 

You need to wake up to reality man.

[Adrianli]

I am not sure if you are in this trade. Yes, NCB protector has limitations but it does what it is meant to protect. and yes, you are right, it will affect your premium, that I am fully aware.

 

I did contemplate to do private settlement since accident is very minor but I choose insurance for reasons I have explained. The reason why we are all so uptight about insurance claim and inflating cost is why I am sharing here. it is perfectly normal for people in this business to react but that didn't change the facts right?

I am not in this trade but have been thru a few accidents to roughly know the workings of the motorcar insurance industry.

 

Since you know it, you went the insurance route, then you should know the claim amount differs a hell lot from private settlement. Many mouths to feed. If you feel the other party's claim is unjustifiable, ask for itemised bill and dispute it.

 

Not sure why you still dont want to share where damage, what car damage and a screenshot of the claim.

 

 

You can write to GIA or MAS if you think it is unjustifiable. And if you think the insurance company is falsifying the claim, you can make a police report. Why still moan about it? Do something about it. You hope for magic to happen?

[Victor68]

I am not in this trade but have been thru a few accidents to roughly know the workings of the motorcar insurance industry.

 

Since you know it, you went the insurance route, then you should know the claim amount differs a hell lot from private settlement. Many mouths to feed. If you feel the other party's claim is unjustifiable, ask for itemised bill and dispute it.

 

Not sure why you still dont want to share where damage, what car damage and a screenshot of the claim.

 

 

You can write to GIA or MAS if you think it is unjustifiable. And if you think the insurance company is falsifying the claim, you can make a police report. Why still moan about it? Do something about it. You hope for magic to happen?

I have already explained, it does affect me. As far as the case is concerned, my insurance company will take care whether it is $1k or $10k.

 

we are just chit chatting here like what you said. Amount differs hell of alot due to feeding many mouths. is this good for the industry and motorists? just talk lah, life goes on bro. 

[Adrianli]

I have already explained, it does affect me. As far as the case is concerned, my insurance company will take care whether it is $1k or $10k.

 

we are just chit chatting here like what you said. Amount differs hell of alot due to feeding many mouths. is this good for the industry and motorists? just talk lah, life goes on bro.

You chose the route, you cannot blame the system. Those who are familiar with the insurance route will then take advantage of it.

 

There will always be ppl trying to game the system.

 

 

Same with work or everyday life. If you know a shortcut, would you take it?

[Beehive3783]

Yup, people like you are why premiums are going up. Small small little thing wanna claim insurance.

 

And when the claims amount skyrockets beyond your own initial estimate, come here kpkb.

 

rationale for reporting insurance instead of private settlement? well, i have NCB protection, so going the insurance route is fine with me. even if premium goes up by a couple of hundreds. 

 

Private settlement also fine but I don't want any trouble and wasting time on a minor accident. 

 

[Neutrino]

Need enforcement not regulations.

 

See my signature

[Swift0601a]

Hi all,

 

Renewed inspiration to follow up and engage possible channels for enforcement or look into my case lead me to here, I try to keep it short.

 

July 2017 side sweep minor accident(got video, that driver reported as I rear-end him), said driver left in a hurry, didn't want to talk and didn't exchange details, case still pending, unsettled till date.

 

My car left few months at that time, scuff that pickup's side rubber/plastic bumper protector, my fender 1 hole, he came from behind me, report etc SOP all done, I go ask beat panel and spray how much, quoted about $150, that driver claim 6k+ repair and 6k+ medical, pickup allegedly scrapped shortly after the incident.

 

Insurer was NTUC, they even had problem facilitating video submission, deal with claims? fingers crossed.

 

I can feel some of you here, who went through similar experiences as I did, I feel there should be some regulation and enforcement.

 

One type rice feed hundred type people.

Edited September 22, 2018 by Swift0601a