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Insurance coverage for test cars

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Just curious... Coz it crossed my mind when I saw the two yellow lambs accident. 

Let's say a person takes a car or for a test drive and ends up hitting another car. 

I can safely say that the insurance will cover both cars. 

But unlike private owner whereby the one will caused the accident will have a huge jump in his premium the following year,  will the car dealer be penalised the same way also? 

Or will the premium increase follow the test driver? 

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12 minutes ago, Ysc3 said:

Just curious... Coz it crossed my mind when I saw the two yellow lambs accident. 

Let's say a person takes a car or for a test drive and ends up hitting another car. 

I can safely say that the insurance will cover both cars. 

But unlike private owner whereby the one will caused the accident will have a huge jump in his premium the following year,  will the car dealer be penalised the same way also? 

Or will the premium increase follow the test driver? 

My assumption will be the car dealer will take the hit.

Most prob they will have a huge jump in the premium the following year.

 

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18 minutes ago, Ysc3 said:

Just curious... Coz it crossed my mind when I saw the two yellow lambs accident. 

Let's say a person takes a car or for a test drive and ends up hitting another car. 

I can safely say that the insurance will cover both cars. 

But unlike private owner whereby the one will caused the accident will have a huge jump in his premium the following year,  will the car dealer be penalised the same way also? 

Or will the premium increase follow the test driver? 

For car dealer, there is a separate trade insurance to cover this liablity. 

Owner of sold vehicle should have cancelled the insurance coverage.

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21 minutes ago, inlinesix said:

For car dealer, there is a separate trade insurance to cover this liablity. 

Owner of sold vehicle should have cancelled the insurance coverage.

Let's say a person walks into C&C and asks for a test drive in a C180. 

He goes out and rear ends another car.

Insurance will pay - for both.

But question is will the premiums for C&C go up because of the accident caused by a prospective buyer?

 

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32 minutes ago, Ysc3 said:

Let's say a person walks into C&C and asks for a test drive in a C180. 

He goes out and rear ends another car.

Insurance will pay - for both.

But question is will the premiums for C&C go up because of the accident caused by a prospective buyer?

For commercial insurance, insurer will look into profitability of the entire portfolio.

Let's say all other policy has no claim and only this 1 policy has 10k claims, it is likely no increase.

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55 minutes ago, Ysc3 said:

Let's say a person walks into C&C and asks for a test drive in a C180. 

He goes out and rear ends another car.

Insurance will pay - for both.

But question is will the premiums for C&C go up because of the accident caused by a prospective buyer?

Businesses usually hv an all risk cover. Cannot compare to individual type car insurance 

Btw, why u so worried their premiums go up? 

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3 minutes ago, Soya said:

Businesses usually hv an all risk cover. Cannot compare to individual type car insurance 

Btw, why u so worried their premiums go up? 

Not worried about them but just curious... Cuz all this insurance payout money have to come from somewhere...

When the insurance coys declares they not making money, our premiums will also go up.

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From a private buyer's perspective, you shouldn't have to worry about minor scuffles on a test car, even with a third party involved.

Needless to say, never endanger others, drive within your limits. Don't be another Regan (I think that was his name).

If you drive terribly, expect to be blacklisted by that marque and any others they share info with. 

You do have to be concerned about traffic law. That license photocopy you provide (I think we're still required despite PDPA) will ensure you remain answerable to TP for any laws you break. 

But money-wise, they shouldn't expect anything from you if they're offering a test drive. Which is why I don't trust the dealers who insist on a deposit. Borneo (a dealer I have already had a bad experience with when they damaged a new MPV I got from them during a service) insisted on a hefty deposit to test drive the new Supra. I laughed in their faces. Ridiculous. 

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6 minutes ago, Ysc3 said:

Not worried about them but just curious... Cuz all this insurance payout money have to come from somewhere...

When the insurance coys declares they not making money, our premiums will also go up.

Big businesses like C&C hv powerful brokers to get them the best overall coverage for the entire company and premiums can run into millions. Not to mention the prestige of having a big name customer under their belt

We consumers always end up w the short end of the stick coz we got no bargaining power individually. Insurer make less, we top up. They make more, higher bonus for the CEO but we still pay the same if not more.

 

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1 hour ago, Turboflat4 said:

 

But money-wise, they shouldn't expect anything from you if they're offering a test drive. Which is why I don't trust the dealers who insist on a deposit. Borneo (a dealer I have already had a bad experience with when they damaged a new MPV I got from them during a service) insisted on a hefty deposit to test drive the new Supra. I laughed in their faces. Ridiculous. 

Dunno which one I find more unbelievable

BM requiring a deposit for test drive or you actually owning a Wish......LOL

 

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14 minutes ago, Soya said:

Dunno which one I find more unbelievable

BM requiring a deposit for test drive or you actually owning a Wish......LOL

 

why you no said sienta? 🤣

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58 minutes ago, Atrecord said:

why you no said sienta? 🤣

Coz our friend is power hungry mah. So he buy Wish instead of Sienta. Vroom vroom...

 

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Good to bump this topic again with reference to this...

104590520_3059368390817423_8290415874937924548_o.jpg

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On 6/8/2020 at 12:17 PM, Ysc3 said:

Not worried about them but just curious... Cuz all this insurance payout money have to come from somewhere...

When the insurance coys declares they not making money, our premiums will also go up.

Whether exotic cars,  premium brands, B&B cars, workshops ballooning claims have already been a common practice,  so our premiums have already been built in with those huge claims, one or two more lambo claiming damages wont cause any difference.😄😄😄

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18 minutes ago, Ct3833 said:

Whether exotic cars,  premium brands, B&B cars, workshops ballooning claims have already been a common practice,  so our premiums have already been built in with those huge claims, one or two more lambo claiming damages wont cause any difference.😄😄😄

Last year not enough le

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On 6/8/2020 at 10:23 AM, Ysc3 said:

Just curious... Coz it crossed my mind when I saw the two yellow lambs accident. 

Let's say a person takes a car or for a test drive and ends up hitting another car. 

I can safely say that the insurance will cover both cars. 

But unlike private owner whereby the one will caused the accident will have a huge jump in his premium the following year,  will the car dealer be penalised the same way also? 

Or will the premium increase follow the test driver? 

Oh  ...... this is the question I asked C&C, what if accident happened ?

SE said no problem at all one de.

Customer to pay EXCESS (I think 2500), the car will be repaired and you are the NEW OWNER of the Car lor.  U agreed by contract ........ya ......that iPAD form you signed ....... before TD ?? Remember ??

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47 minutes ago, Apple-Tree said:

Oh  ...... this is the question I asked C&C, what if accident happened ?

SE said no problem at all one de.

Customer to pay EXCESS (I think 2500), the car will be repaired and you are the NEW OWNER of the Car lor.  U agreed by contract ........ya ......that iPAD form you signed ....... before TD ?? Remember ??

Seriously?  Is this the standard practice?

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Yes customer pay excess but no I never see that customer will be new owner of car. That one prob tok kok. 

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