Accident Claim

[mindfulness]

Guys, got involved in a very bad front end collision recently. Will be claiming against my own insurance, Workshop folks warned that it might be a "total loss' scenario. Any idea what is the maximum amount the insurance company normally reimburses? Any ways of preventing the total loss scenario?

 

[Alexxx]

Re: Accident Claim

IMHO....if possible...dont do at PML? then the cost of repair = halfed?

Based on my own experience...i calculated...if i did not do my repairs at PML....would have come up with max $20k cash....

My added premium after claiming = $6k+ extra already for abt years...so don claim would be better in the long run....

Don forget...after a massive claim...ur next insurance premium will be doubled - trippled for the next 5 years at least?

 

[iScoupe]

Re: Accident Claim

IMHO -
the market value sucks so u have to do ur homework.. make sure insurer pay market value.. dun forget the OMV insurer no need pay so if ur insurer pay too low, die die ask them fix back the car!

 

[mindfulness]

Re: Accident Claim

IMHO....if possible...dont do at PML? then the cost of repair = halfed?

Based on my own experience...i calculated...if i did not do my repairs at PML....would have come up with max $20k cash....

My added premium after claiming = $6k+ extra already for abt years...so don claim would be better in the long run....

Don forget...after a massive claim...ur next insurance premium will be doubled - trippled for the next 5 years at least?

That's precisly why I didnt send in to PML... can't imagine what their labour charge will be... confirm total loss case... I dont think i will be willing to come up with so much cash...in fact i am hoping not to come up with a single cent at all... possible?

 

[mindfulness]

Re: Accident Claim

IMHO -
the market value sucks so u have to do ur homework.. make sure insurer pay market value.. dun forget the OMV insurer no need pay so if ur insurer pay too low, die die ask them fix back the car!

Sorry, what do you mean insurer do not have to pay OMV? If they are paying market value, that would have already incorporated the paper value in it isn't it?

 

[panzer]

Re: Accident Claim

IMHO -
the market value sucks so u have to do ur homework.. make sure insurer pay market value.. dun forget the OMV insurer no need pay so if ur insurer pay too low, die die ask them fix back the car!

+1

I will suggest that u bang the insurers table if they tell u about economical sum of repair....

As long as its not NTU i think u are still safe......

U still got the rights to ask them to repair back.... but if certain items they cant replace but suggest repair u gotta bear with it.... Thats OD claims....

But if you car below 3 years shld be ok.... part by part itemised claims.....

 

[iScoupe]

Re: Accident Claim

Sorry, what do you mean insurer do not have to pay OMV? If they are paying market value, that would have already incorporated the paper value in it isn't it?

sorry my england not clear..
for OMV insurer claim from LTA then plus a bit say market value.. my client total lost his car pay him 55K when market is abt 66K, he had to cut all the classified ads, print out sgcarmart price, then scream at insurer this is wat market value, then they LL pay a bit more. unless ur insurance stated sum assured which only goes for exotic rides.
IMHO total cars are not really scrapped..personally my good BRO's car pay total lost then still on the road !

Now some insurer can no need insured OMV to make premium cheaper, total sibei troublesome.
I know of N company LL repair after declared total for a accident car, still can repaired till swee swee.

 

[mindfulness]

Re: Accident Claim

+1

I will suggest that u bang the insurers table if they tell u about economical sum of repair....

As long as its not NTU i think u are still safe......

U still got the rights to ask them to repair back.... but if certain items they cant replace but suggest repair u gotta bear with it.... Thats OD claims....

But if you car below 3 years shld be ok.... part by part itemised claims.....

What's NTU? What i am worried now is that workshop is claiming an exhorbitant repair amount which i know insurer will heckle down. Now, if the insurer is only willing to pay say 60% of the total costs, do i have to pay the remaining 40%? Is this a possible scenario? I have told the workshop upfront that I am not willing to be paying out of my own pocket. Btw, the collision occured at a cross junction, i was going straight, the other party was making a right turn. I believe i have a stronger case.

 

[mindfulness]

Re: Accident Claim

sorry my england not clear..
for OMV insurer claim from LTA then plus a bit say market value.. my client total lost his car pay him 55K when market is abt 66K, he had to cut all the classified ads, print out sgcarmart price, then scream at insurer this is wat market value, then they LL pay a bit more. unless ur insurance stated sum assured which only goes for exotic rides.
IMHO total cars are not really scrapped..personally my good BRO's car pay total lost then still on the road !

Now some insurer can no need insured OMV to make premium cheaper, total sibei troublesome.
I know of N company LL repair after declared total for a accident car, still can repaired till swee swee.

No no is my understanding of such cases very poor cause lack experience not yr england poor.
So N company is a workshop or insurance company? My understanding poor again for this part. If N company is workshop then why they still LL repair if insurance company already declare total loss? Pai sei me noob. Thks for the advice.

 

[iScoupe]

Re: Accident Claim

No no is my understanding of such cases very poor cause lack experience not yr england poor.
So N company is a workshop or insurance company? My understanding poor again for this part. If N company is workshop then why they still LL repair if insurance company already declare total loss? Pai sei me noob. Thks for the advice.

haha N is insurer la.. u only demand from insurer not ur workshop.. when accident insurer pays the damage.. anyway dun say i say one.. just choose whichever can minimise ur losses.. if total & u still owe loan , i think is not worth!