No private settlement in accident

[Obscurest]

I was told that nowadays if an accident occur, we shld not settle on the spot even if both parties willing to sign a black n white on the spot tat no reporting is required.

 

My friend told me tat tis will affect my insurance if the other party really decided to report.

 

I think what he is trying to say is that this issue can escalate to a much bigger n serious issue if either party decided to peruse the matter.

 

Thus no matter how small the accident will be, the assessor must come into the picture to act as an eye witness n to access the seriousness of the damage even if is a 5cent coin size paint chip off.

 

Really wana know the fact as don't Wana ended up doing something wrong and end up to my disadvantage.

 

Thks.

[Good-Carbuyer]

I was told that nowadays if an accident occur, we shld not settle on the spot even if both parties willing to sign a black n white on the spot tat no reporting is required.

 

My friend told me tat tis will affect my insurance if the other party really decided to report.

 

I think what he is trying to say is that this issue can escalate to a much bigger n serious issue if either party decided to peruse the matter.

 

Thus no matter how small the accident will be, the assessor must come into the picture to act as an eye witness n to access the seriousness of the damage even if is a 5cent coin size paint chip off.

 

Really wana know the fact as don't Wana ended up doing something wrong and end up to my disadvantage.

 

Thks.

I believe this to be the truth (a colleague just entertain this procedure now, after a bus hit his car this morning).

[Passion]

What private settlement? No private settlement one lah. I was play out when someone hit my car. I reported to my insurance and said private settlement. That bugger still go and claim my insurance when he hit my side with his front. My insurance go and pay out to him without my knowledge even though I reported to them is private settlement. What rubbish right? Ask them go fcuk spider lah.

[Alg]

If you have a private settlement form signed by both parties should be okay. Insurance co. should be happy as they need to do anything and continue to receive your premiums.

[Ghostrider]

What private settlement? No private settlement one lah. I was play out when someone hit my car. I reported to my insurance and said private settlement. That bugger still go and claim my insurance when he hit my side with his front. My insurance go and pay out to him without my knowledge even though I reported to them is private settlement. What rubbish right? Ask them go fcuk spider lah.

 

You should have reported your insurance to GIA for non compliance.

 

I hit a taxi backside when he swerve into my lane...my left corner made contact with his right rear corner....so I reported to insurance and he reported his. I took photos and send to the insurance company when making report. But it seems that the taxi had another accident after that cos his whole bumper and boot was damaged.

 

My stupid insurance made a 7K reimbuirsement to NTUC and wrote to me. I damn tulan and ask to see the report and saw the pictures and report...I told them that its a 50/50 case and they agreed with me but said that for taxi, they usually do a group reimbursement and not case by case...I told them that is their problem...dun tell me.

 

I took my IDAC report + their report and send to GIA and complain....in the end...they reimburse my NCD back to me.

[Edwardthy]

what is GIA? how to write in to them?

[Wreckwrx]

I was told that nowadays if an accident occur, we shld not settle on the spot even if both parties willing to sign a black n white on the spot tat no reporting is required.

 

My friend told me tat tis will affect my insurance if the other party really decided to report.

 

I think what he is trying to say is that this issue can escalate to a much bigger n serious issue if either party decided to peruse the matter.

 

Thus no matter how small the accident will be, the assessor must come into the picture to act as an eye witness n to access the seriousness of the damage even if is a 5cent coin size paint chip off.

 

Really wana know the fact as don't Wana ended up doing something wrong and end up to my disadvantage.

 

Thks.

 

Always insist on both parties signing a "private settlement form"...... most workshops will have them....... that should absolve u from any further claims.... but must make sure that there's a witness to it as well (usually the workshop itself).

[SGCMmaomao]

You should have reported your insurance to GIA for non compliance.

 

I hit a taxi backside when he swerve into my lane...my left corner made contact with his right rear corner....so I reported to insurance and he reported his. I took photos and send to the insurance company when making report. But it seems that the taxi had another accident after that cos his whole bumper and boot was damaged.

 

My stupid insurance made a 7K reimbuirsement to NTUC and wrote to me. I damn tulan and ask to see the report and saw the pictures and report...I told them that its a 50/50 case and they agreed with me but said that for taxi, they usually do a group reimbursement and not case by case...I told them that is their problem...dun tell me.

 

I took my IDAC report + their report and send to GIA and complain....in the end...they reimburse my NCD back to me.

 

Hey bro.. can let me know this cabby no plate or not? on the road i saw him i'll siam super far...

[Acieed]

If you read those fine prints in your insurance, I believe there should be a clause that requires you to report all accidents relating to your insured car. This has been so, since around 2005 or 2006 when GIA implemented it industry wide.

 

So, it is always a risk that the other party report it to their insurance company to protect himself. In the end, it's a gentleman's agreement for any private settlement. Whatever private settlement form you sign will give you indemnity against future claims, but doesn't protect you from "fail to report" or "breach of contract" should the insurance company wants to use it against you.

 

Perhaps insurance agents and legal experts can help clarify.

 

 

[SGCMmaomao]

I was told that nowadays if an accident occur, we shld not settle on the spot even if both parties willing to sign a black n white on the spot tat no reporting is required.

 

My friend told me tat tis will affect my insurance if the other party really decided to report.

 

I think what he is trying to say is that this issue can escalate to a much bigger n serious issue if either party decided to peruse the matter.

 

Thus no matter how small the accident will be, the assessor must come into the picture to act as an eye witness n to access the seriousness of the damage even if is a 5cent coin size paint chip off.

 

Really wana know the fact as don't Wana ended up doing something wrong and end up to my disadvantage.

 

Thks.

 

it depends.. if there is a black and white then it's a different story liao.. do not take verbal agreement.. take plenty of pixs regards of the accident. best is install a cam in ur car.. If got $$ to spend, install 4 direction lens.. secure ur car, secure ur insurance premium.

 

still report to IDAC within 24hr.. at least u can save ur ass if the other party put u aeroplane. keep a pen and paper in ur car for this kinda situation. NTUC have a formal of the form.NTUC PS form

 

minor accident try to solve it btw both party.. u be nice with others, others will be nice to u..

Once my uncle's car kanna bang from behind, he actually very relax one.. u remorse, say sorry, he will just say "it's alright" "drive safe" but then tat driver very very XL.. did not get down from the car(young fcuk) give me uncle a "WTF do u wan face?" my uncle still go over and knock his window to ask he to come out.. long story short.. young fcuk XL and GL with my uncle.. So he went ahead to claim tat young fcuk insurance..many many... Stupid right? u rear end others ah, no point come down scold and shout.. u sure lose de.. unless u got cam in the car or witness from the road side.. ppl in ur car not counted..

[Ghostrider]

Hey bro.. can let me know this cabby no plate or not? on the road i saw him i'll siam super far...

 

Dunno liao lah...it was so long ago.

 

But I remember that those stickers that they stick on the cab boot which is the tel number...very expensive. $7 per letter/number !! WTF !! :angry: :angry: :angry: :angry:

[Silver_blade]

Can still settle privately...but you will have to inform your insurer about the accident and tell them you settle privately with the other party. But you will still need to take photos, etc....

[Fooblack]

private settlement is possible.

 

however, need to ensure everything is in black and white. Bet you and the driver + you and your insurer.

 

In writing, instruct your insurer not to allow claims to be made w/o your consent.

[Tanahseng]

i pvt settled b4 leh, the other party knocked my bumpber and paid me $500, becoz he got no licenece i think./

[Bhauto213]

What private settlement? No private settlement one lah. I was play out when someone hit my car. I reported to my insurance and said private settlement. That bugger still go and claim my insurance when he hit my side with his front. My insurance go and pay out to him without my knowledge even though I reported to them is private settlement. What rubbish right? Ask them go fcuk spider lah.

Hi bro, i came across alot of cases like this before. normally if we wanted to have any private statement these are the few things you have to take notice

1) A GIA report have to be done indicate both of you having private settlement and for reporting purposed only.

2) photo taking of you and the other party vehicle , you have to stand far to take a photo show how the other party knock onto your car. Try to take photo without shifting you and the other party vehicle.

3) If you able to make the other write black and white indicated how the other party knock onto your vehicle. At which road? time and date of accident , NRIC number , name and signature. This is to prevent in case in future if the other party happen to claim against you, you are able to use this black and white to claim the other party back.

4) Do a mutal settlement between you and the other party vehicle owner which mean you and the other party vehicle owner agree on the repair cost. No insurance claim is needed for this accident case.

 

hope im able to help friends in the forum with the infor i provide :)

 

Best regard

[Mllcg]

it depends.. if there is a black and white then it's a different story liao.. do not take verbal agreement.. take plenty of pixs regards of the accident. best is install a cam in ur car.. If got $$ to spend, install 4 direction lens.. secure ur car, secure ur insurance premium.

 

still report to IDAC within 24hr.. at least u can save ur ass if the other party put u aeroplane. keep a pen and paper in ur car for this kinda situation. NTUC have a formal of the form.NTUC PS form

 

minor accident try to solve it btw both party.. u be nice with others, others will be nice to u..

Once my uncle's car kanna bang from behind, he actually very relax one.. u remorse, say sorry, he will just say "it's alright" "drive safe" but then tat driver very very XL.. did not get down from the car(young fcuk) give me uncle a "WTF do u wan face?" my uncle still go over and knock his window to ask he to come out.. long story short.. young fcuk XL and GL with my uncle.. So he went ahead to claim tat young fcuk insurance..many many... Stupid right? u rear end others ah, no point come down scold and shout.. u sure lose de.. unless u got cam in the car or witness from the road side.. ppl in ur car not counted..

 

some wont claim the full sum also.

 

just pay 100-200 bucks can le.

[Good-Carbuyer]

Hey bro.. can let me know this cabby no plate or not? on the road i saw him i'll siam super far...

Do not panic. Do not worry. Stay calm and drive as safely as you normally do. Just report if he rear-end your car.

[Good-Carbuyer]

i pvt settled b4 leh, the other party knocked my bumpber and paid me $500, becoz he got no licenece i think./

Can share with us why you so sympathetic to illegal driving?