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 Motor insurance issue - need advice

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Roystonnn
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PostSubject: Motor insurance issue - need advice   Wed Nov 09, 2011 12:01 am

Any motoring guru other than pros, land scaper, farmer & etc, can help me?

Recently, i faced with issues with insurance renewal for my 4yrs ride.

Few days ago, I requested AXA (current insurer) & directasia for quotation on my 4th year motor insurance.

Their reply was "cannot quote me as I have 3 reports of accidents in the past 3 years, base on their company policy".

The account of my 3 reports are as follow:
1. I claimed against other parties insurance as she colided me while turning. (she admitted fault)
2. Other vehicle came too close to me causing my side mirror to close. Our car nothing happened but I reported just in case as the other party was very fierce.
3. The other party reversed in a car park n collided my front. He admitted fault & signed a letter on the spot where I claimes against his insurance.

I told AXA that those report are not my fault. Even as such, AXA is not willing to insure me? She replied yes. I need to find other insurer.

Anybody here faced such situation before?
(dun tell me same situation for golf insurance)

Suey... Recently bought in car video to record anyone who reverse bang me.. Now seems like no use... Insurer dun wana insure me.... Haiz....
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BabyCroc
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 12:48 am

The case of which i have heard of is one driver who had 3 accidents in one year of which none is his fault. And his renewal got rejected cos of the high number of claims. End up he had to place the insurance under his parents name and re-accumulate the NCD. But for your case, you might wanna search for other insurers since AXA has this policy. To them, they might deem insuring your car as a high proximate risk to them cos its just suey and accident prone. LOL.

But no harm trying for alternative insurers. You might get a better rate . Let me know if you need further help with that. =)

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benjiaming
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 1:53 pm

This does not make sense .... not your fault and yet you are being penalised? If insurance companies do not wish to accept claims, then why do they exist in the 1st palce? I would assume they exist to help their customers, ie, the insurers, whether there are claims or not.
The fact that these insurance companies are unable to perform their work, ie, to monitor the legitimate claims and minimise fraud cases .... they simply shift the responsiblities to all motorists. Is it fair?
Job is suddenly so easy for insurance companies .... their motto is to collect money from insurers and avoid any claims. How easy!
I would recommend you write to Straits Times about your story or submit to the ST forum, I think the relevant parties such as CASE will assist you accordingly.

My 2 cents .... good luck !
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Roystonnn
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 9:17 pm

Thanks for advises!

Latest development.
After telling my 3rd party agent (she apply/renew insurance for me) that it is unfair to me as those accident ate 3rd party fault, she checked with AXA in detail..

Now, Agent explained to me that there is an amount "reserved" under my insurance for the 2 accidents.

So, In order for me to renew insurance, I need to provide her the letter of discharge (this letter proves that 3rd party have paid the repairs & no pending claims).
With this letter, AXA will remove the "reserved", then i can apply for renewal..

She said I can get this letter for the insurer of the 3rd party.
Also mentioned that by right, the 3rd party insurer should automatically provide the letter.

As I forgot who is the insurer of the 3rd party, now i called workshop to check if they have such discharge letter.

It's praying time now...
Not sure if agent is smoking me, but to kaki out there, u may wana check if such letter is available & safekeep it.
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guy013
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 9:24 pm

This is true. Cos even if u say it's not ur fault u never know what the outcome of investigation will be. It's one word against another.

If u 100% confident they cannot claim against u then u can sign the letter of discharge but this means if somehow the investigation kelong and or even of they say 50-50 that means u have to come out from ur own pocket.

U must weigh the risk yourself.
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pushslice
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 9:34 pm

Im in the same fate bro

A motorcycle hit me from the side 2yrs ago, but we argued whose fault was it. I was wary of going thru insurance claim from previous exp 4yrs ago, when another mocycle hit me from behind, it was not my fault but insurance co raised my premium regardless.

So this bike rider and i agreed to let the case go, and i still report to hotline to comply with regulations.

Turns out Axa keep a reserve for this case, despite no claims for two yrs. Sigh. I never enjoy ncd despite never claiming against axa.

Tried to shop ard, but other insurance ask axa abt the reserve and quoted me the same price.
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Roystonnn
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 9:43 pm

guy013 wrote:
This is true. Cos even if u say it's not ur fault u never know what the outcome of investigation will be. It's one word against another.

If u 100% confident they cannot claim against u then u can sign the letter of discharge but this means if somehow the investigation kelong and or even of they say 50-50 that means u have to come out from ur own pocket.

U must weigh the risk yourself.

Yeah man... Whether 3rd party have paid up my workshop, i need to check.. Then show AXA the letter.

Most likely paid ba..
1 case is early this year (3rd party is actually AXA!) and the other is 1.5yrs ago..
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Roystonnn
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 9:45 pm

pushslice wrote:
Im in the same fate bro

A motorcycle hit me from the side 2yrs ago, but we argued whose fault was it. I was wary of going thru insurance claim from previous exp 4yrs ago, when another mocycle hit me from behind, it was not my fault but insurance co raised my premium regardless.

So this bike rider and i agreed to let the case go, and i still report to hotline to comply with regulations.

Turns out Axa keep a reserve for this case, despite no claims for two yrs. Sigh. I never enjoy ncd despite never claiming against axa.

Tried to shop ard, but other insurance ask axa abt the reserve and quoted me the same price.

Oh! Exactly same fate!!
And the other insurance company refused to quote me, i guess likely is they hav checked against my current insurer, AXA.
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pushslice
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 10:20 pm

do you use winner insurance agent too?
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Roystonnn
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PostSubject: Re: Motor insurance issue - need advice   Wed Nov 09, 2011 11:02 pm

This agent i liase with is from Starcapital insurance..
Very Happy
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Kenneth
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PostSubject: Re: Motor insurance issue - need advice   Thu Nov 10, 2011 2:37 am

Here are some points to noted to avoid such problems if you met an accident and not your fault:
- Most workshop (usually authorized dealer such as C&C, Tan Cheong, etc.) don't do 3rd party claim. Meaning they only help you to claim your own insurance. Seen not your fault, your insurance company will then file a claim again the 3rd party insurance company. Due to the efforts to claims agains 3rd party, it incurred cost to your insurance company, your insurance company also have to bear all repair cost first before they managed to recover the money from 3rd party insurance company. Therefore it effected your future policy fee. Most drivers facing this problem.

- Look up for workshop whom willing to do 3rd party claim if possible. They usually engage lawyer to claim again the 3rd party insurance company directly if they are confident to win your case. Hence, your insurance company do not involve at all, so it will not affect your future policy fee.

- Get the other driver to pay cash for the repair cost.

Hope this help.
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Roystonnn
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PostSubject: Re: Motor insurance issue - need advice   Thu Nov 10, 2011 9:07 am

Actually, workshop told me not to repair 1st until 3rd party accept the claim. I brought my car back until workshop told me 3rd party accept. (unless i am ok to pay cash 1st or insurance prem go up)

Hope wat workshop did as per wat he said.
If not premium sure go up
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Roystonnn
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PostSubject: Re: Motor insurance issue - need advice   Thu Nov 10, 2011 10:28 am

Wa lao eh.. Seems like discharge letter no use.
Actually, claim against 3rd party is confirmed. But the reserved amount will anyhow be there.

My agent is negotiating with AXA...
Luckily, both accident 3rd party sign the letter to admit fault.
Agent will try to negotiate with that.

Guys, do keep a copy of drafted letter for other party to sign if they at fault or if wana settle outside of insurance.
I keep many copies in car. Very Happy
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