Accident yesterday! my fault... what next?

hi all, need urgent advice. i got into an accident yesterday 1030pm. 2 weeks old forte!!! it was my fault. was turning right at a junction after checking all clear for oncoming. then i heard a bang sound in front and realised i bang into a motorcycle! i swear i never see the motor! my wife oso never see. anyway, definately is my fault as i was turning right. call 999 immed after checking he was all right. damn lucky i tink hit motor and guy tumble. never hit guy. he was conyeyed by ambulance to NUH. i wait for TP. after settle wif TP i rush to NUH to see him but no visitors allowed so i wait outside for 5 hours. i called him to say i will be waiting outside to bring him home after i found out this old man nobody come to visit him and send him home. anyway, he was discharged at 5am and i send him to workplace(24hr kopitiam) to give his boss the MC and send him home. also pass him $50 for coffee.

so now jialat rite? what should i do next? on one hand is to wait for his claim. then my side what should i do? i called SE, he ask me go down leng kee 1st thing in morning and repair there. is it good advice? next year insurance sure skyrocket right? brand new insurance wif AIG. 2 weeks old. so now how any good advice bro...? go leng kee and restore everything to original? actually meeting SE at 9am, but delaying to solicit for advice.

thank u. xie xie. kam sia.

Sorry to hear about the accident, glad that the old man is ok, but did he went through a thorough scan as elderly's are very fragile in their internal organs etc.

IMO $50 for him for coffee, instead I would have offered to pay his hospital bills. but nevertheless u did great by waiting and standing by till he got discharge. were his family members notified ?

any major damage to your car ? to his bike ? not sure if he will be claiming from you anot as the way you mention that this elderly maybe really in his late 60s 70s and dono if he is clear abt the way insurance claim works? or his family members will do the claim

nevertheless, since you know that you are at fault and you dont have to wait for him, you can just go ahead with your own repairs, claiming from your own insurance will up your next premium, if the old man claim from you, it will also up your next premium.

I am not sure if this works, when its time for the next premium, change insurance company hrmm....


anyone wana correct me on this ? I am not 100% sure about the claiming part though but glad to get some info for those who knows more.

It's really admirable that you

1. Admitted it's your mistake.
2. Took the trouble to make sure that the old man was taken care of.

The exterior of the car can always be re-conditioned... not to worry... maybe it's a good time to consider another color??

Anyway, till his claim comes, there is almost nothing you can do unless he is willing to resolve this on a private settlement.

But even if it's settled privately, pls ask him to sign on a black and white.

If the damage is bad, no choice claim insurance. But small dent can privately settle, if you want can find the uncle tell him you will repair his bike. Avoid insurance claim

correct on all points..... especially on changing ins company...
sorry about ur accident and hopefully the senior is ok....

but weird why both u n ur wife never see him, was the junction well lit? any witnesses? and how fast/slow were u turning?

longbow wrote:If the damage is bad, no choice claim insurance. But small dent can privately settle, if you want can find the uncle tell him you will repair his bike. Avoid insurance claim

Wah... if his bike is a BMW le??

izzit the bike forgot to on his lights?

Oh yes, since the old man was injured... If I am not wrong, need to

1. Take statement

2. Depending on your insurance company... I'm not sure about AIG... but you need to go to a place to report and take photo...

Damn... cannot remember the place...

balonglong_1979 wrote:izzit the bike forgot to on his lights?

This one is not an excuse....

Trust me... I kenna before.

joepele wrote:Oh yes, since the old man was injured... If I am not wrong, need to

1. Take statement

2. Depending on your insurance company... I'm not sure about AIG... but you need to go to a place to report and take photo...

Damn... cannot remember the place...

aig one... u need to cnc ... they will get the surveyor for u.... for others i think need to go idac...

JuanST wrote:

joepele wrote:Oh yes, since the old man was injured... If I am not wrong, need to

1. Take statement

2. Depending on your insurance company... I'm not sure about AIG... but you need to go to a place to report and take photo...

Damn... cannot remember the place...

aig one... u need to cnc ... they will get the surveyor for u.... for others i think need to go idac...

Ya, it's IDAC.

Sometimes I dun really know if it's a better idea to go to IDAC or not le...

Coz, some years ago.. I knocked on someone's Mit Colt... Damaged the brake light... he mentioned that he went to CnC and the bill came to almost 5k!!!

Here's what he did.
1. Change the tail light
2. Change the whole rear boot cover... reason, small scratch.
3. Respray the whole car
etc etc...

No wonder the insurance claims went up so much.

yeap man....it's commendable on ur side...respect...glad that u and the old man is fine....

maybe can u ask for the quotation for your car to be done up at C&C , if it's a measurable amount , i guess u pay cash upfront rather than u claim from your insurance.

Same goes for the old man's bike....
If not jus claim your insurance , that's what insurance are there for....

Oh yes, anyway... to rest your heart...

If it's an old man... riding an old bike like

rxk or cub... damage should cost around 1-2k @ max...

but may cost a little more if it's new...

brand new ones for these cost around 5-7k.

i'm amazed by so many response in so short a time! thanks bro. the place is dim. lemme paint the location. PIE exit jurong town hall/ bukit batok road. i exit towards bukit batok road. there is this junction with shell station. i was waiting to turn right into the thai temple area. i checked oncoming very far and proceed to turn right loh. u know where i hit? almost complete the turn at the pedestrain crossing. he say he was at extreme left lane travelling extremely left... can say beside the pedestrain crossing liao. his headlight muz be very dim. those old man bike u know. 10+ yrs old kind.

while sending him home, i enquire abt what his next step is. he say he got one workshop always go one. do the full claiming process from retrieving motor from ubi compound to file claims. i dun want to suggest do at a workshop of my choice lah.. later he thinks i want to cheat him... he seem a sincere and honest guy, but i hear abt his "workshop that does full package" i shiver.... the motor cost 1.5k tops. is it possible to claim more than that? he has 7 days MC. night shift at coffeeshop.

i wanted to pay medical bill for him but he say request send bill to his house he will passs to workshop. cashier say muz pay at least $10 the rest will send to his house. i paid the $10.

bros, i am genuinely remorseful abt accident. my mentality is i right turn, no matter what is my fault. and cars should always look out for smaller users eg bicycles, bikes, pedestrains. but i feel i need to protect myself against that workshop. i thinking of going to the coffeeshop for next 7 nights to see if he working, if he does, i may take video. if the claim is too damn high, i will tender as evidence he can work while MC etc...

my 3 questions are,

1. how much can he claim? the bike really scrap condition.
2. what should my next course of action be? go leng kee?
3. now my insurance is 2.6k. estimate next year premium?

oh... my damages are

1. bonnet medium size dent plus some abrasions.
2. number plate drop
3. bumper deep scratches.

one last question, TP informed liao, still can private settle? cuz his damage not a lot... mine also not a lot.... under 1k should settle everything.

thank u xie xie.

I think u can call AIG to chk, coz a police report has been made so no matter what i think u still have to report the accident to AIG.

U can call them to chk if ur premium will be increase if u did not make any claim.
Also chk again with the victim to see if hes ok and whether outside settelment for the bike is possible.

Melburn is right, once a report is lodge quickly report within 24 hrs. Dun play play on this.

The insurer's std answer will be depends on the outcome of the claims and blah blah on your next yr's premium.

Even if you did not make a claim after reporting, you cannot control if the 3rd party were to claim against you. Either way premiums will go up. When the uncle mentioned that his workshop will settle for him, likely means the workshop will claim insurance on you. (this is guess work but i think only logical for the workshop to do that to profit more from this)

To you question on if the motor can claim more than scrap value of the car, usually insurer will allow up to total loss value or lower for repairs. For 3rd party claims slightly different. Might be possible to be above 1.5k. Plus the medical in and loss of income.

I tell my clients, anything that can be solved with money is not a big problem.

aural wrote:Melburn is right, once a report is lodge quickly report within 24 hrs. Dun play play on this.

The insurer's std answer will be depends on the outcome of the claims and blah blah on your next yr's premium.

Even if you did not make a claim after reporting, you cannot control if the 3rd party were to claim against you. Either way premiums will go up. When the uncle mentioned that his workshop will settle for him, likely means the workshop will claim insurance on you. (this is guess work but i think only logical for the workshop to do that to profit more from this)

To you question on if the motor can claim more than scrap value of the car, usually insurer will allow up to total loss value or lower for repairs. For 3rd party claims slightly different. Might be possible to be above 1.5k. Plus the medical in and loss of income.

I tell my clients, anything that can be solved with money is not a big problem.

will we be able to inspect and dispute the claim? cuz as i say, i know where he work. near my house, i may go see he got work anot... if he work while still on MC and earn money and if the workshop claim tooooo high, i may fight the MC etc... not i dirty... i AM sorry and i know i AM at fault. but if got too kwa zhang claims i also muz protect myself... like 7 days MC they claim $500 how...? cuz his injuries are all abrasions, i have a feeling he may go and work. kopitiam assistant. cannot be he one hand earn money and other hand claim for MC tio bo?

yes TP inform already still can private settle...Just call the uncle and chat with him will do.

but to do private settle.. make sure you write a paper claiming both of you agree to privately settle, the breakdown of the cost paid and get both nric, date and sign.

Lastly if possible go photocopy his nric also.

The agreement paper is super importance if not later your privately settle and he back fire u and go claim insurance then u double lost.

dun worry too much. what will happen will happen.... just do what is required... do the paperwoks and wait....u cant influence what he is gonna do.... later if ur not happy with the way aig handles it, change insurance company...

desiderata...

simonsoh wrote:

aural wrote:Melburn is right, once a report is lodge quickly report within 24 hrs. Dun play play on this.

The insurer's std answer will be depends on the outcome of the claims and blah blah on your next yr's premium.

Even if you did not make a claim after reporting, you cannot control if the 3rd party were to claim against you. Either way premiums will go up. When the uncle mentioned that his workshop will settle for him, likely means the workshop will claim insurance on you. (this is guess work but i think only logical for the workshop to do that to profit more from this)

To you question on if the motor can claim more than scrap value of the car, usually insurer will allow up to total loss value or lower for repairs. For 3rd party claims slightly different. Might be possible to be above 1.5k. Plus the medical in and loss of income.

I tell my clients, anything that can be solved with money is not a big problem.

will we be able to inspect and dispute the claim? cuz as i say, i know where he work. near my house, i may go see he got work anot... if the workshop claim tooooo high, i may fight the MC etc... not i dirty... i AM sorry and i know i AM at fault. but if got too kwa zhang claims i also muz protect myself... like 7 days MC they claim $500 how...?

In insurance, there is something call subrogation of rights where you give your rights to claim or defend to the insurers. They will of course try to lower claims, afterall they will be the first party to pay the money. For things like medical, it is usually hard to fight against that unless you can say the doc should not give 7 days MC. What you may be able to do is to see if the repair costs are somewhat reasonable. After saying all these, if the claimant (3rd party) decided after the workshop's advice to everything also change and since change must change new else few months later spoil how? This is where cost starts to go up. Compared to if you were to bring your car for repair and say it is paid by you, the cost usually is very different. Cos the workshop will quote lowest possible just to get your biz. Once it comes to insurance, they will tell u price is not an issue, important to get things done nicely.

JuanST wrote:dun worry too much. what will happen will happen.... just do what is required... do the paperwoks and wait....u cant influence what he is gonna do.... later if ur not happy with the way aig handles it, change insurance company...

desiderata...

Yah, get the necessary paper up that is more important.

One misconception is once your report an accident you cannot do private settlement. Please note that reporting and claiming are 2 different things. If you need to do a private settlement you will need a waiver of liability form for the insurer to reinstate your NCD upon renewal and also to protect yourself from "potential" claims that might arise when the 3rd party decided to come after you. But the main thing is still to report, or even if you private settle and the incident is made known to the insurer somemore, your NCD can be affected still.

balonglong_1979 wrote:izzit the bike forgot to on his lights?

actually no excuse on forgetting to on lights..

for motorbiker in sg have a habits now which is off engine with the headlight on.. so when turn on engine.. headlight is already on.. so save the troubles to on it.

joepele wrote:Oh yes, since the old man was injured... If I am not wrong, need to

1. Take statement

2. Depending on your insurance company... I'm not sure about AIG... but you need to go to a place to report and take photo...

Damn... cannot remember the place...

IDAC access the damange
TP involved already. Driver will be penalize with fine + Demerit
Insurance must declare the accident 1st. Claiming or not is another matter
Cos if the uncle (be it a driver or a rider) after receiving advise from 3rd party and decides to backfire you. Your insurance company reserves the right NOT TO HONOUR any claim at all if you fail to report the accident within 24 hrs.
The uncle can legally sue you or bring you to court for MC that is being issued for 3 days and above

Personal experience >.<
Just to share

Terrier=>
Cos of LTA regulations (Following ECE). All bikes after 2004 come in without On/Off switch. Just like our Army vehicles and public transport, headlight low beam cannot off manually

my dad also got into an accident 2 month back currently stil in hospital he got an open fracture on his right leg. mY dad's accident is a serious one so we have already engage a lawyer for this case hospital bill to date before gov sub is around 80 to 90 k cash to be paid from us is around 15 to 17k not included deduction from medisave and will be claming the other guy loss of income and pain and suffering Doctor say my dad will take 2 yrs to recover at least imgaine the loss of income.
Also bukit batok area near your place of accident but is at st 23
but for your case since the old man injury is not that serious and he did not suffer a loss of income, and he claim from your insurance then your insurance will settle everything but your premiun will be higher for sure

if i never read wrongly under our insurer AIG they are not in the scheme under IDAC

Sorry to learn about your accident. After reading your post, I think you are really a kind and responsible man However I think the old man is not a new bird in claiming. Have you ask him whether he wants to go for private settlement or claim insurance? If he doesn't mind go private, you may ask him to go to your workshop. If I am you, I will go to his or preferably mine workshop to negotiate with the mechanics on the claim amount. Whether claim insurance or private, you still go back to C&C or AIG authorised workshop to make accident report. After reporting, ask for the quote from C&C. If it's too high (expected), you tell them you need to consider and go check with your own workshop for quote. All these are assuming the old man go for private. However, if he insist claim insurance, then I will send it to C&C and leave everything to C&C & AIG to settle and move on.

IvanLow wrote:if i never read wrongly under our insurer AIG they are not in the scheme under IDAC

Yes, AIG not under IDAC. No need to go IDAC. Save the trouble and hasten the repairing time.

ok guys, thanks for all the kind advice. here's an update.

I have already decided to replace bonnet and bumper at C and C. 2 weeks old car lah.... better restore everything to original.

the worrying thing i the old man 7 days MC. i heard one friend kana 3 days MC managed to claim 4k for medical alone. sprained, physological, inconvinences etc... now he 7 days i shudder... i spoke to him, he seem kindly. he say he understand my situation. i say if he really feel comdy at mechanic, pls go ahead, i will settle with workshop and pay him few hundred cash for these few days of inconvinences and of course 7 days worth of wages. he keep saying he understand my situation, also dun wan to see me die next year when insurance due, but keep ending with the phrase "see what they say first".

my question is

1. i have already decided to let Cnc do my car(excess $600).
2. if old man willing to let me private settle (repair i estimate abt $500 plus $300 wages lost plus $300 kopi money plus medical $300 total $1400)

question is.... will my insurance premium be difference by old man's 1400? taking in consideration i will be claiming my own ins for my own car? cnc estimate my own repair to be 3k.

confusing hor? i am toying with claim my own car but settle old man 1.4k private so that not so much is being claimed from my ins.

xie xie thank you.

simonsoh wrote:ok guys, thanks for all the kind advice. here's an update.

I have already decided to replace bonnet and bumper at C and C. 2 weeks old car lah.... better restore everything to original.

the worrying thing i the old man 7 days MC. i heard one friend kana 3 days MC managed to claim 4k for medical alone. sprained, physological, inconvinences etc... now he 7 days i shudder... i spoke to him, he seem kindly. he say he understand my situation. i say if he really feel comdy at mechanic, pls go ahead, i will settle with workshop and pay him few hundred cash for these few days of inconvinences and of course 7 days worth of wages. he keep saying he understand my situation, also dun wan to see me die next year when insurance due, but keep ending with the phrase "see what they say first".

my question is

1. i have already decided to let Cnc do my car(excess $600).
2. if old man willing to let me private settle (repair i estimate abt $500 plus $300 wages lost plus $300 kopi money plus medical $300 total $1400)

question is.... will my insurance premium be difference by old man's 1400? taking in consideration i will be claiming my own ins for my own car? cnc estimate my own repair to be 3k.

confusing hor? i am toying with claim my own car but settle old man 1.4k private so that not so much is being claimed from my ins.

xie xie thank you.

To be exact, if it's privte settlement, then the 1.4k is not an issue. If you let the workshop claim against you, i believe the price will go higher. It all depends on the old man if he wants to be nice and dun everything can claim claim as high as posssible. Also most of the time, workshops will just assume claim max situation and go all out to max out on the claims.

Be it with or without his claim, you premium next year will be higher.

For your reference, i had one accident which the 3rd party wanted to ask me if i mind private settlement of about 600 bucks. At that time, i know my OD will be about 2k-3k. SO i decided to just lump the 600 bucks into insurance. But then the total subsequently came up to $3k+ for the 3rd party because the workshop told him to claim for other stuff like loss of use, changing new parts intead of knocking the things into place and the list goes on.

There is nothing the insurers can do also because the workshop mentioned they cannot be liable if subsequently the person drives off and certain things spoils, so some stuff have to change new parts.

This is just for reference and claims there is not exact science to it also.

simonsoh wrote:ok guys, thanks for all the kind advice. here's an update.

I have already decided to replace bonnet and bumper at C and C. 2 weeks old car lah.... better restore everything to original.

the worrying thing i the old man 7 days MC. i heard one friend kana 3 days MC managed to claim 4k for medical alone. sprained, physological, inconvinences etc... now he 7 days i shudder... i spoke to him, he seem kindly. he say he understand my situation. i say if he really feel comdy at mechanic, pls go ahead, i will settle with workshop and pay him few hundred cash for these few days of inconvinences and of course 7 days worth of wages. he keep saying he understand my situation, also dun wan to see me die next year when insurance due, but keep ending with the phrase "see what they say first".

my question is

1. i have already decided to let Cnc do my car(excess $600).
2. if old man willing to let me private settle (repair i estimate abt $500 plus $300 wages lost plus $300 kopi money plus medical $300 total $1400)

question is.... will my insurance premium be difference by old man's 1400? taking in consideration i will be claiming my own ins for my own car? cnc estimate my own repair to be 3k.

confusing hor? i am toying with claim my own car but settle old man 1.4k private so that not so much is being claimed from my ins.

xie xie thank you.

The question is, will your premium increase by 1.4k next year, if not, let insurance settle everything, why pay out of your pocket, insurance is for a purpose and the purpose is to protect you against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved. You have paid a premium, they take the risk to cover you... on whether your premium will rise substantially next year is also dependent on the overall claims of all insured by the company not by this one accident alone.

my accident last year, where I whacked into another car's back, looking at his damages, it would be at least 5k, my renewal premium increased by about $200, NCD remained at 50%, bcos I have NCD protection....

simonsoh wrote:ok guys, thanks for all the kind advice. here's an update.

I have already decided to replace bonnet and bumper at C and C. 2 weeks old car lah.... better restore everything to original.

the worrying thing i the old man 7 days MC. i heard one friend kana 3 days MC managed to claim 4k for medical alone. sprained, physological, inconvinences etc... now he 7 days i shudder... i spoke to him, he seem kindly. he say he understand my situation. i say if he really feel comdy at mechanic, pls go ahead, i will settle with workshop and pay him few hundred cash for these few days of inconvinences and of course 7 days worth of wages. he keep saying he understand my situation, also dun wan to see me die next year when insurance due, but keep ending with the phrase "see what they say first".

my question is

1. i have already decided to let Cnc do my car(excess $600).
2. if old man willing to let me private settle (repair i estimate abt $500 plus $300 wages lost plus $300 kopi money plus medical $300 total $1400)

question is.... will my insurance premium be difference by old man's 1400? taking in consideration i will be claiming my own ins for my own car? cnc estimate my own repair to be 3k.

confusing hor? i am toying with claim my own car but settle old man 1.4k private so that not so much is being claimed from my ins.

xie xie thank you.

Bro, since you already decided to make a claim on your own insurance, why trouble yourself with the sums claimed? If I were you, I will let C&C and AIG to settle the amount. Just drive your courtesy car for the time being, when the repair is done, just pay the excess + GST. I won't be paying anything more than that! I don't see the point of claiming your own insurance and settle private with 3rd party. It's either everything insurance or everything private. No half-half. The rest is up to renewal then worry about premium. Anyway there are more than 20 insurers for you to "reduce" premium. A side note, I think the old man is really not new to claiming. For peace of mind, settle everything with insurance.

no offense. u ask pple in this forum also no use cos they are not the "uncle" u accidentally buang into. juz let ur insurer settle the case for u. ur premium for next year will definitely go up. juz try to relax and let AIG do their job. 4 mths ago i got into an accident. I open my lorry's door and a brand new toyota picnic hit into it. went down to IDAC and tell them my side of the story. NTUC (my insurer) call and said that they will look into the claim. a third party bureau (i 4get the name) gave the judgement that i am at fault. NTUC ask whether i wanna fight the claim or not. I say no cos really my fault for opening the door w/o checking incoming vehicle. toyota owner claimed abt 5K from my insurer. next year premium only shot up by $500. no lives lost...no injuries. tks GOD!!! money lost, definitely can earn it back.

Bro, since you already decided to make a claim on your own insurance, why trouble yourself with the sums claimed? If I were you, I will let C&C and AIG to settle the amount. Just drive your courtesy car for the time being, when the repair is done, just pay the excess + GST. I won't be paying anything more than that! I don't see the point of claiming your own insurance and settle private with 3rd party. It's either everything insurance or everything private. No half-half. The rest is up to renewal then worry about premium. Anyway there are more than 20 insurers for you to "reduce" premium. A side note, I think the old man is really not new to claiming. For peace of mind, settle everything with insurance.[/quote]


100% agree with bro bed...

Key Point....

Problems that can be solved by money... is small problem...

Imagine what happened if the old man died...
Could you live with it??

me almost same case make a U a bike hit my back the guy send to TSH wait for TP to come the photo.TP say my fault that guy claim me 52k MC24 day 3 broken rip N fine $200 9 point deduction. i got 18yr driving experience and also got 8 times accident cases old bird already.if u report to TP there is a fine n point deduct n ins premium charges will be v high

Guys, word of advise, no matter what, please be careful and look out for Motorcyclist. It's not a matter of whether it's his fault or your fault, you are the one siting safely in the car wrap with metal and that guy is the other way round.

Even if it's his fault and you knock him down and he die infront of you, you live in remorse for the rest of your life cause you kill him even though it's not your fault. So what if you win the case, you still kill a human.

So let them pass if they happen to be by your side and most importantly, look out for motocyclist turning along side with you cos they are in your blind spot and you can't see them.

I guess the TS is a new owner and thats normal especially first time get into accident and someone injured somemore. End of the day, look through the advices and decide you own cause of action. One year later, it is your premium and now it is your money out of your pocket. Dun let the incident make you down, down already wont solve any problem also. Like what most of us say, any problem that can be solved with some money is not a big problem already.

But if that motorcyclist die, dun think money can solve the problem.

thanks bro for all the advice.

The final course of action is this.

Old man has agreed 1.5k final cost to settle everything. everything. indemnity form has been signed and i have paid him.

i have took back my car from cnc. bought a number plate from them for $50. next i will source for 3 things.

1. orginal bonnet.($250?)
2. orginal bumber. ($200?)
3. 1 x orginal left flood light(???).

i have found a workshop who transport these 3 items and fix them for me for under $100.

so my total cost for this accident is about $2200 for both party repair and $200 for TP. no claim from insurance. report only.

please give any commenst on my this course of action. nothing can be changed now, but i would really love to hear some comments.

so any bros with lobang to buy the 3 items please intro. bonnet, front bumper and left floodlight.

xie xie. thank u.

just curious, some bros mentioned that they kana claim for $5k and insurance up only $200 the next year???

If thats the case, isn't it more worthwhile to claims that settle privately?

KingJerry wrote:just curious, some bros mentioned that they kana claim for $5k and insurance up only $200 the next year???

If thats the case, isn't it more worthwhile to claims that settle privately?

His case, he has NCD protector and so NCD not affected. If your premium is $2k before NCD. And your NCD 30% caused your premium to be 1.4k After accident your NCD gone, and your premium is 2k before loading (i.e additional premium due to accident)

Case to case basis.

My client's case, got a claim of $3k and his premiums from 3.2k with 3k excess went up to 7k with 3k excess. But no choice have to renew cos no one else can take his car. Doesn't mean one person's situation is such it will means for everyone also. His excess is high due to performance engine.

One very recent example, My client's renewal just came in today. Earlier this yr got one accident total claimed escalated to 6.3k. 3rd party becos claim insurance the cost of stuff went up to abt 3k+.

Last yr renewal with 10% NCD Premium - $1.6k.
This yr renewal notice accident with claims of $6.3k - premium $3.4k

For his case, the 3rd party offered private settle 600 bucks to just knock parts into place, but client dun want to pay cash cos he knows his own dmg will be ard 2k plus plus his excess of 500, he will have to fork out 1.1k cash. So he claim insurance + let the guy claim against his insurance.

This is just a real life case for reference, situations will differ from case to case.

Icic, so what happens the year after if there isn't any accident? Will the premium go back down to the amount before the accident?

Year 0 - no accident, insurance = 1.6k, 0% NCD
Year 1 - 1x accident
Year 2 - Insurance = 3.4k, 0% NCD
Year 3 - Insurance = 1.6k? , 10% NCD?

Is year 3 correct? =p

KingJerry wrote:Icic, so what happens the year after if there isn't any accident? Will the premium go back down to the amount before the accident?

Year 0 - no accident, insurance = 1.6k, 0% NCD
Year 1 - 1x accident
Year 2 - Insurance = 3.4k, 0% NCD
Year 3 - Insurance = 1.6k? , 10% NCD?

Is year 3 correct? =p

By right, but by then insurance premiums overall may have went up. And usually after a few years your age and driving experience would have compensated. Also by then you will also be looking at other companies for quotes to bring down the premiums.

Insurance is soo complicated. Since you work in the king, i was wondering why different insurance companies are charging different premium for the same insured? And differences can be huge! Like one quote $1.5k for comprehensive for person A and the other quote only $1k. Surprisingly, the excess for $1.5k premium is higher than $1k premium.

KingJerry wrote:Insurance is soo complicated. Since you work in the king, i was wondering why different insurance companies are charging different premium for the same insured? And differences can be huge! Like one quote $1.5k for comprehensive for person A and the other quote only $1k. Surprisingly, the excess for $1.5k premium is higher than $1k premium.

Yeap, it is very weird that for some combination one company can quote alot lower but higher than the rest for another combi. All same cars somemore...
Different companies usually have "preferred" risk and may take in slightly better rates given same combinations like occupation, age, and driving experience. This preferred risk may change along the way or some other companies may also lower for certain combination of risks.

For some companies they have superb rates but only for renewal customers which has no accidents.

So what to do, run more quotes to compare for clients.

All i can deduce that different companies got different history with their profile type.

And believed that their motor insurance premium table is based on this data. Hence, if company A got super good experience with profile A insured, they will probably charge lower for that particular category.

Just thinking out loud here..

KingJerry wrote:All i can deduce that different companies got different history with their profile type.

And believed that their motor insurance premium table is based on this data. Hence, if company A got super good experience with profile A insured, they will probably charge lower for that particular category.

Just thinking out loud here..

Pretty much correct here.

so bro aural, ya a insurance broker?

KingJerry wrote:so bro aural, ya a insurance broker?

Ya.