Motor Accident claim

After reading the Borneo Post newspaper dated 11.5.2012 which I think this is very important to share with most of the car owners.

Normally when comes to car accident claim car owner comes to know the excess.  Excess applied to all the cars insurance policies.  The excess also applied on different cars, it’s depending on the car cubic capacities (cc) and the sum insured of the cars.  The bigger the cubic capacities (cc) or sum insured the higher the excess.

My personal advice is to ask what the excess is before you insure.  After all if you don’t ask the computer system will automotive generate, it’s all fix in the system.  The issuances can’t do any changes, but they could lower down the excess by manually applying through the insurance companies.  This will takes time for approval.

According to the newspaper cutting the excess is 2.5% for the sum insured of RM530, 000.00 so it comes up with the excess of RM13, 250.  It means that for the first loss of RM13, 250 the car owner’s will respond for it, after that the balance will be pay by the insurance companies.  According to the newspaper the car owner’s will only receive less than RM2, 000. For the repairing cost which was very true.

Further my information that is another excess please don’t forget.  It is the name driver excess (in insurance language/term they call endorsement 2f).  This is very important also which car owners should know it thoroughly. If you don’t know always “ask”! What else you should know!

There are still many some other clauses which are important to the car owners.  Always consult with the professional insurance consultant before you insure your valued car.  That is my proper advice.

The second newspaper cutting SEE HUS DAILY NEWS dated 05.05.2012 the claim comes up to RM850K.   My question is can you afford to pay for such a huge amount of claim?  This was a third party accident claim.  What if this was under liabilities claim due to the claimant was the 2 brothers & sister passenger’s.  Can the 2 brothers & sister afford to pay? Or is it worth to pay?  What if you don’t own a proper insurance to cover your car insurance?

Happy reading!!

Enquiry: http://www.dennyinsurecom.com/form.htm

Motor accident the claimant claims up to 850 thousand plus.  Just imaging, if we don't own a comprehensive motor insurance policy.  How are we going to pay for such a huge amount of claims.  Other then injury claim they still have some other possible claim may arise from the accident.
Enquiry: http://www.dennyinsurecom.com/form.htm

Motor Insurance

Motor Insurance
Motor Insurance is a contract purchased by the owner of a vehicle from an authorised insurer to protect the policyholder (owner of the vehicle) against loss or damage to his vehicle and or against loss or damage which the policyholder might cause to another person's vehicle or property and or death or bodily injury to a third party.


Vehicle Classification

PRIVATE CAR
Use only for social domestic and pleasure purposes and for the Policyholder's business
Does not cover:-
Use for hire and reward
- Use for racing pace-making reliability trial speed testing
- Use for the carriage of goods other than samples in connection with any trade or business
- Use for any purpose in connection with the Motor Trade.

PRIVATE MOTOR CYCLE

Use for social domestic and pleasure purposes and in connection with the Policyholder's business for profession
Does not cover:-
Use for hire and reward
- Use for racing pace-making reliability trial speed testing
- Use for the carriage of goods other than samples in connection with any trade or business
- Use for any purpose in connection with the Motor Trade.

Type of Covers

• Comprehensive
The cover offers protection against financial loss because it covers fire, theft and accidental damage to the Insured's vehicle in addition to the protection against the legal liabilities to third party for death and bodily injury and damage to property that may arise through the negligence of the driver.

• Third Party
The cover offers protection against financial loss as a result of damage the driver of the vehicle may cause to the property of a third party. It also provides protection against any claims that may arise because of the death of or injury to another person through the negligence of the driver.