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Accident Insurance Claim - Total Loss! Help!


Seahian
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Hi Seniors..

 

Need your advise on the below:

I was involved in a cross junction traffic accident whereby I was driving straight towards a junction when the greenlight is in my favour. I hit a right turn car. My front bumper is badly damaged with engine and passenger air bags activated.

The car is quoted 65k to repair at authorised dealer. As my car has a high parf of 80k and a resale same car is going at ard 100k. The opp insurance company treat this case as a total loss.

As much as i will prefer to repair the car..thereis now no other offer from other workshop to take up this job.

What other alternatives are available to me? As a total loss write off will be at my disadvantage?

Appreciate your constructive comments please.

Thanks

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Hi Seniors..

 

Need your advise on the below:

I was involved in a cross junction traffic accident whereby I was driving straight towards a junction when the greenlight is in my favour. I hit a right turn car. My front bumper is badly damaged with engine and passenger air bags activated.

The car is quoted 65k to repair at authorised dealer. As my car has a high parf of 80k and a resale same car is going at ard 100k. The opp insurance company treat this case as a total loss.

As much as i will prefer to repair the car..thereis now no other offer from other workshop to take up this job.

What other alternatives are available to me? As a total loss write off will be at my disadvantage?

Appreciate your constructive comments please.

Thanks

You're doing a Own damage claim or third party claim? How much is the insurance company paying you to declare total loss? As you mentioned you're going straight with right of way, got video to support your claim? If yes, then should do a third party claim whereby the other party should compensate you base on market value meaning the compensation should allow you to purchase a similar car in the market.

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You're doing a Own damage claim or third party claim? How much is the insurance company paying you to declare total loss? As you mentioned you're going straight with right of way, got video to support your claim? If yes, then should do a third party claim whereby the other party should compensate you base on market value meaning the compensation should allow you to purchase a similar car in the market.

Im doing a third party claim. They are only willing to pay 16k as the repair limit. 80 plus 16..96k..i cannot find a decent similar model which i prefer in the resale mkt.
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Im doing a third party claim. They are only willing to pay 16k as the repair limit. 80 plus 16..96k..i cannot find a decent similar model which i prefer in the resale mkt.

Maybe you should ask the appointed lawyer from the WS for advise. What's the cost of repair estimated by the other insurance company estimator? Is the other party 100% liable for the accident? I think someone is trying to BS you. If there is a repair limit, then those high end sport car don't need to repair as the bumper easily cost more than10K for the rear bumper alone.

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Hi Seniors..

 

Need your advise on the below:

I was involved in a cross junction traffic accident whereby I was driving straight towards a junction when the greenlight is in my favour. I hit a right turn car. My front bumper is badly damaged with engine and passenger air bags activated.

The car is quoted 65k to repair at authorised dealer. As my car has a high parf of 80k and a resale same car is going at ard 100k. The opp insurance company treat this case as a total loss.

As much as i will prefer to repair the car..thereis now no other offer from other workshop to take up this job.

What other alternatives are available to me? As a total loss write off will be at my disadvantage?

Appreciate your constructive comments please.

Thanks

 

http://motorcarinsurancesg.com/faq/#nineteen

 

19. If My Car Is Stolen or Totally Damaged, How Will I Be Compensated?

If your car is damaged beyond economical repair, stolen or destroyed by fire, the insurer will compensate you by sending you a cheque for the market value of your vehicle at the time of loss. Some insurers will deliver a new car (of the same make & model) to you if your vehicle is still within the limited warranty period.

For some insurers, they have an additional protection package (at a minimal premium) that will not total loss your vehicle even if the damaged vehicle is beyond economical repair unless LTA certified it is not safe to drive.

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Twincharged
(edited)

one can only negotiate for more. the PARF is 80k and a similar model is 100k the insurance loss is only 20k. no way will they ever repair and cough out 65k

 

try to bargain for more. try 25k. dont forget you still have to add in medical.

Edited by Mkl22
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Turbocharged

http://motorcarinsurancesg.com/faq/#nineteen

 

19. If My Car Is Stolen or Totally Damaged, How Will I Be Compensated?

If your car is damaged beyond economical repair, stolen or destroyed by fire, the insurer will compensate you by sending you a cheque for the market value of your vehicle at the time of loss. Some insurers will deliver a new car (of the same make & model) to you if your vehicle is still within the limited warranty period.

For some insurers, they have an additional protection package (at a minimal premium) that will not total loss your vehicle even if the damaged vehicle is beyond economical repair unless LTA certified it is not safe to drive.

Actually I find the responses so far very strange.

 

I buy my insurance from a company, so there is a contract between me and my insurer. So the Q&A #19 above will be applicable if I am asking my own insurer to repair my car but the terms and conditions of that contract may well allow my insurer to say it will rather compensate me market value and declare total loss.

 

But I have no contract with the other driver's insurance what, so how can they try and impose something on me if I don't agree?

 

The basic idea is I must be returned to the position that I was before the accident right? Of course, if like to get the car completely repaired I get two quotes and one of them is like way higher than the other and I go for the most expensive workshop for no reason, then the other insurance company can resist. Or for eg the repair is quoted at $x but to buy a car of equivalent model, age, condition etc is say 80% of $x and I still insist on repairing, then the other insurance company maybe also can resist.

 

But if the amount they want to compensate is not enough to foot the bill of even the most reasonable workshop I find or to get a similar replacement in the market, I can fight right?

Im doing a third party claim. They are only willing to pay 16k as the repair limit. 80 plus 16..96k..i cannot find a decent similar model which i prefer in the resale mkt.

What is the basis for the 16k repair limit? Is it because they determine it is partly your fault therefore you must also come up with part of the repair bill? How about sending to a workshop of their choosing to repair and they foot the bill, whatever the amount and factoring in any % responsibility you agree to bear?

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Supersonic

Don't understand why TS has to negotiate w the other party's insurer?

 

Can't TS claim under own policy and let both the insurers fight it out w their own lawyers?

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Don't understand why TS has to negotiate w the other party's insurer?

 

Can't TS claim under own policy and let both the insurers fight it out w their own lawyers?

Which insurer would do that?
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Actually I find the responses so far very strange.

 

I buy my insurance from a company, so there is a contract between me and my insurer. So the Q&A #19 above will be applicable if I am asking my own insurer to repair my car but the terms and conditions of that contract may well allow my insurer to say it will rather compensate me market value and declare total loss.

 

But I have no contract with the other driver's insurance what, so how can they try and impose something on me if I don't agree?

 

The basic idea is I must be returned to the position that I was before the accident right? Of course, if like to get the car completely repaired I get two quotes and one of them is like way higher than the other and I go for the most expensive workshop for no reason, then the other insurance company can resist. Or for eg the repair is quoted at $x but to buy a car of equivalent model, age, condition etc is say 80% of $x and I still insist on repairing, then the other insurance company maybe also can resist.

 

But if the amount they want to compensate is not enough to foot the bill of even the most reasonable workshop I find or to get a similar replacement in the market, I can fight right?

 

What is the basis for the 16k repair limit? Is it because they determine it is partly your fault therefore you must also come up with part of the repair bill? How about sending to a workshop of their choosing to repair and they foot the bill, whatever the amount and factoring in any % responsibility you agree to bear?

In theory, you are seeking compensation from 3rd party.

 

That 3rd party authorized its insurer to represent on restitution of 3rd party.

 

In case of negotiation breakdown, see you in court.

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Supersonic

Which insurer would do that?

U mean your insurer will juz relak one corner n ask u to run after the other party yourself?
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(edited)

Hi Seniors..

 

Need your advise on the below:

I was involved in a cross junction traffic accident whereby I was driving straight towards a junction when the greenlight is in my favour. I hit a right turn car. My front bumper is badly damaged with engine and passenger air bags activated.

The car is quoted 65k to repair at authorised dealer. As my car has a high parf of 80k and a resale same car is going at ard 100k. The opp insurance company treat this case as a total loss.

As much as i will prefer to repair the car..thereis now no other offer from other workshop to take up this job.

What other alternatives are available to me? As a total loss write off will be at my disadvantage?

Appreciate your constructive comments please.

Thanks

Since there are resale car going at $100k, they wont pay you more than 100k-deregister value. They will also assume that you could negotiate down from $100k to get a used car of the same model. That explains why the $16k. You could try to nego higher, $65k repair will never be your option unfortunately.

If you are having a fairly high COE car, top up slightly more than 100k might get you a new car of the similar model .

Edited by Ct3833
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U mean your insurer will juz relak one corner n ask u to run after the other party yourself?

Yup.

 

It’s rare for Singapore insurer to do this.

 

In the good old days, Yes because of Knock for Knock

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(edited)

Im doing a third party claim. They are only willing to pay 16k as the repair limit. 80 plus 16..96k..i cannot find a decent similar model which i prefer in the resale mkt.

Actually 96k is only 4k off the 100k you mentioned earlier that is needed to get a replacement car of similar condition. So I believe the insurer must have done some market research to conclude that 96k is a fair sum in this case. Can share how you conclude that the replacement car would cost 100k? 

 

Beside, assuming that COE is much lower now than when you got the car if you have got it within the last few years, you should be ale to get a decent car with 96k or even top up a bit to get even better car.

 

Whatever the case, I would not want to drive the current car if it has been repaired costing 65k! If I were to sell it off, most likely I will get back even lower than 96k.

Edited by Heartlander
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Turbocharged

In theory, you are seeking compensation from 3rd party.

 

That 3rd party authorized its insurer to represent on restitution of 3rd party.

 

In case of negotiation breakdown, see you in court.

Exactly. There is no terms and conditions that already bind TS to the other driver's insurers. And insurers are calculating risks all the time, if it is not worth to fight they will settle, fight if they determine they almost sure to win.

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(edited)

Think is the workshop who will file the 3rd party claim and the insurers will sort it out themselves.

 

When I was involved in an accident 2 years ago, I was given 3 choice

1) Claim own damage

2) File 3rd party claim

- no repair will be done until the other party approve the 3rd party claim

3) Claim own damage and file for 3rd party claim

- Pay excess up front and start repair. The 3rd party claim will take a few months to settle

 

I went for option 3.

Paid the excess and proceed with repair while filing for 3rd party by workshop.

Eventually Insurance companies settled at 80/20. My NCD not affected. Workshop sent me the cheque for refund of excess + loss of use.

 

Edited by Sx4falcon
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Supercharged

Hi Seniors..

 

Need your advise on the below:

I was involved in a cross junction traffic accident whereby I was driving straight towards a junction when the greenlight is in my favour. I hit a right turn car. My front bumper is badly damaged with engine and passenger air bags activated.

The car is quoted 65k to repair at authorised dealer. As my car has a high parf of 80k and a resale same car is going at ard 100k. The opp insurance company treat this case as a total loss.

As much as i will prefer to repair the car..thereis now no other offer from other workshop to take up this job.

What other alternatives are available to me? As a total loss write off will be at my disadvantage?

Appreciate your constructive comments please.

Thanks

 

I have friends who kena 2 similar case before.

 

You kena if

 

1) Your PARF value is high at time of accident (high COE)

2) Market price for your ride is low (unpopular model + low current COE)

3) Your repair is significant (more than just a few k)

 

Basically it is simple maths. if repair cost > (market value - PARF value), then it makes more sense for the insurer to scrap car, take your PARF value, top up a few k to give you market value. They would be paying less than helping you to repair - this is simple business logic.

 

In terms of T&C, nothing you can do really.

 

The only thing you can do is to try to negotiate the market value higher by using examples from SGCARMART etc.

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