Bluesky76 Neutral Newbie November 2, 2010 Share November 2, 2010 You guys read this article ? Can't find an online link... Basically if you have accident with an modified car, the insurance might not honor the claim for it. So does this means if you have an accident with an modified car and it's not your fault it means good luck to you as you going to be a lot of hassle trying to claim from the other party. So much for car insurance before compulsory... ↡ Advertisement Link to post Share on other sites More sharing options...
Little_prince Supersonic November 2, 2010 Share November 2, 2010 dun let them find out lor lucky i stock hahaha Link to post Share on other sites More sharing options...
Genes 6th Gear November 2, 2010 Share November 2, 2010 Like that I also will wanna illegally modify my car, so that no one can claim from me? Siao bo.. Link to post Share on other sites More sharing options...
Mcf777 Turbocharged November 2, 2010 Share November 2, 2010 there are tons of illegal modified cars in the market. for those conti car that tune by BSR, ABTor MTM etc, are they considered modified car since they also dont report the extra high power to their insurance company? Link to post Share on other sites More sharing options...
Vega Turbocharged November 2, 2010 Share November 2, 2010 change rims consider mod? Link to post Share on other sites More sharing options...
Zanter 3rd Gear November 2, 2010 Share November 2, 2010 Like that I also will wanna illegally modify my car, so that no one can claim from me? Siao bo.. They will sue your pants off, sell off your home to get paid..song bo? Link to post Share on other sites More sharing options...
Chuppychup Neutral Newbie November 2, 2010 Share November 2, 2010 whats the full news on this ? u cannot claim from modified car ? shouldnt it be the other way round ? Link to post Share on other sites More sharing options...
Zanter 3rd Gear November 2, 2010 Share November 2, 2010 there are tons of illegal modified cars in the market. for those conti car that tune by BSR, ABTor MTM etc, are they considered modified car since they also dont report the extra high power to their insurance company? Anything that increases Underwriter's risk but not reported will void policy. So if accident then immediately demod b4 inspection otherwise pay personally. So its like paying for insurance but not getting benefit. Link to post Share on other sites More sharing options...
Zanter 3rd Gear November 2, 2010 Share November 2, 2010 whats the full news on this ? u cannot claim from modified car ? shouldnt it be the other way round ? Who says cannot claim? Can claim! Sue the pants off the illegals mod car owner, seize his assets or sell off his home if he got no money. Link to post Share on other sites More sharing options...
Zanter 3rd Gear November 2, 2010 Share November 2, 2010 You guys read this article ? Can't find an online link... Basically if you have accident with an modified car, the insurance might not honor the claim for it. So does this means if you have an accident with an modified car and it's not your fault it means good luck to you as you going to be a lot of hassle trying to claim from the other party. So much for car insurance before compulsory... Basically you will be covered by your own comprehensive insurance( assuming ur car is unmod) and they will sue the pants off the illegally mod car to claim back what they paid you. Link to post Share on other sites More sharing options...
Mcf777 Turbocharged November 2, 2010 Share November 2, 2010 (edited) this is another new chapter of insurance company getting more and more ridiculous to protect their profit margin. Maybe in the next future, all insurance company will required all car owners to place a 50K FD deposit just in case there is any accident case involved. if you dont declare your mod items, they will use the 50K to compensate the victim Edited November 2, 2010 by Mcf777 Link to post Share on other sites More sharing options...
inlinesix Hypersonic November 2, 2010 Share November 2, 2010 Basically you will be covered by your own comprehensive insurance( assuming ur car is unmod) and they will sue the pants off the illegally mod car to claim back what they paid you. No need to be so much hassle la. Make 3rd party claims against guilty party via ur own insurance co. The max loss is NCD lor. Link to post Share on other sites More sharing options...
inlinesix Hypersonic November 2, 2010 Share November 2, 2010 this is another new chapter of insurance company getting more and more ridiculous to protect their profit margin. Maybe in the next future, all insurance company will required all car owners to place a 50K FD deposit just in case there is any accident case involved. Do u know how bad the loss of motor business in Sg after claims, comm & expenses? It is more than what insurers receive from us. U don't expect biz to x subsidise diff line of business, rite? Link to post Share on other sites More sharing options...
Mustank Hypersonic November 2, 2010 Share November 2, 2010 what if the driver was a bankrupt like in Adrian's case? Link to post Share on other sites More sharing options...
Vince69 Neutral Newbie November 2, 2010 Share November 2, 2010 Do u know how bad the loss of motor business in Sg after claims, comm & expenses? It is more than what insurers receive from us. U don't expect biz to x subsidise diff line of business, rite? Which make it very werid... how can such model of business last so long? for some its like so so many years, if its always in the red? I wonder if there is full statistics on such claims, as in how much collected, how much payout in claims, how much in commission, how much in expense, how much to pay packets (especially the upper management), investment earning from premium collected...etc Link to post Share on other sites More sharing options...
Mockngbrd Supersonic November 2, 2010 Share November 2, 2010 it has always been the case Link to post Share on other sites More sharing options...
Mcf777 Turbocharged November 2, 2010 Share November 2, 2010 big insurance company dont just relied on the car insurance to make money. They have many other arms to create profit for the company. Example : Life insurance or endowment insurance or trust fund. Link to post Share on other sites More sharing options...
Jpcc Clutched November 2, 2010 Share November 2, 2010 whats the full news on this ? u cannot claim from modified car ? shouldnt it be the other way round ? Mmmm, what is considered mod car? Add front strut bar consider modded? Mod exhaust but with LTA approved cert considered mod? change to stainless steel brake lines? replace stock to a bigger rotors? ↡ Advertisement Link to post Share on other sites More sharing options...
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