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NCD already affected even though no claim from another party


Bluetree
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Neutral Newbie

I was involved in a traffic accident whereby a pedestrian was involved. Not totally my fault and I have the right of the way. Anyway, as long as a car accident involved a pedestrian, the driver will be held liable no matter how.

 

I reported the accident to my insurance company.The claim officer of my insurance company advised me not to go for private settlement as the pedestrian might jacked up the injury claim if that pedestrian comes to aware that can claimed from my insurance company. My NCD is reduced from 50% to 20% and the premium for my next year renewal quoted by my present insurance company had increased more than 2 times my present premium, even though there is no claim from the pedestrian yet. The claim officer explained a sum of money had been reserved for the injury claim as injury claim is opened for a period of about 5 to 6 years. The claim officer also added that if there is no claim from the pedestrian for 2 years, my NCD will reverted back to 50% and I will be refunded for the extra premium paid during these 2 years. I then asked the claim officer will I still get the refund if I switch to other insurance company. The claim officer said that I will still get the refund from other insurance company if there is no claim as that they will checked and verified with my present insurance company.

 

It is the assurance of refund that I decided not to go for private settlement .

 

I called another insurance company for a quotation for the my insurance renewal. They quoted me about the same amount of premium as what my present insurance company quoted me. However, they told me that there is no refund from them even there is no claim from the pedestrian. I then told them of all what the claim officer had told and assured of refund me, they still told me this is not the practice for their company. The only thing is my NCD will be inceased by 10% if there is no further accident claim, which is the normal practice for all company.

 

If there is no refund at all, it seems that getting a private settlement might be better as my NCD will be reinstated back to 50% and my premium for next renewal will be affected. Besides, the pedestrian suffered very minor injury thus the amount to be paid most likely will not be high. What you guys think?

 

 

 

 

 

 

 

 

 

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Neutral Newbie

the pedestrian suffered very minor injury thus the amount to be paid most likely will not be high.... Ohhh than is how much put it on Black & White for direct/ private settlement ask the pedestrian to sign and have WITNESS oso for the private settlement + take photo of the pedestrian taking the settlement ( $CASH/CHEQUE)

 

 

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  On 1/29/2012 at 8:02 AM, Joseph27 said:

the pedestrian suffered very minor injury thus the amount to be paid most likely will not be high.... Ohhh than is how much put it on Black & White for direct/ private settlement ask the pedestrian to sign and have WITNESS oso for the private settlement + take photo of the pedestrian taking the settlement ( $CASH/CHEQUE)

 

actually, any victims of an accident, pedestrain or motorist, have up to 3 years to file a claim for injury. so while you may not have an injury at that time, you may get it years later. and if you can get a doctor to certify that it is due to the accident, you can claim it.

 

Not sure how the doctor can prove that it is really due to the accident and not some previous injury or due to some incident that occured after, but that's the rule currently.

 

Thus getting a written statement stating uninjured at that time may not be that useful.

Edited by Samshio
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Neutral Newbie
  On 1/29/2012 at 8:08 AM, Kiadaw said:

No matter what, get a written statement that you will get refund, if no further claims. NEVER taken spoken words as assurance.

 

Yes. Tks for your advice. I and the claim officer talk so much and plus all the worries , stress in my mind that I had missed this out.

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Neutral Newbie

Now I think what I can do us to call some more other insurance companies to check whether they will do refund for my case in event of no claim. If they replied no refund, then I guess the claim officer is talking nonsense and misleading me!!!

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