Navigating The Process Of Sports Car Insurance Claims In Singapore

Navigating The Process Of Sports Car Insurance Claims In Singapore – The Talking Point program uncovers players involved in inflated claims, from companies that can make S$20,000 a month, to workshop operators who overcharge for repairs, to surveyors who approve high repair costs. he does.

SINGAPORE: When the SG Road Vigilante Group uploaded videos of men harassing motorists who had just met with an accident, comments from netizens were swift and furious.

Navigating The Process Of Sports Car Insurance Claims In Singapore

Lawyer Sarjit Singh, who represents insurers handling car accident claims, says the ads are “still common” a year after those videos were uploaded.

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He noted: Thanks to the lifting of (pandemic) restrictions, you can see traffic returning to normal. “Business is back.”

And it has a wider impact, Talking Point hosts Steven Chia and Sherry Bhargava find out when they team up to investigate how different parties are involved in this dubious business.

One of the drivers, Lee (not his real name), was involved in a chain reaction four years ago when his car rear-ended a second car.

He and his wife were not injured. But since this was his first road accident, he was in a state of shock. “I was terrified,” she recalls. “I didn’t realize I had to call the insurance company.”

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“(He) called a card and said… I can settle all your claims. I can do everything – no headache, nothing. Follow me to the workshop. (We’ll drive together,” Lee recounts.)

The other two drivers agreed, so Lee did the same. After arriving at the workshop, a so-called good Samaritan asked him if he wanted to get an insurance policy.

Lee didn’t want to because his car was not damaged. The man then told him that this was his chance to “fix (his) car, make it nicer”.

At this point, Lee was skeptical but didn’t think much of it until his insurance company informed him that it had settled the claim for more than S$30,000.

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He realized he must have encountered a problem: someone committing insurance fraud by taking advantage of a driver who was stressed and confused after an accident.

When an accident occurs, the drivers involved can choose between settling the matter privately, without any insurance claims, or the victim can file a third-party claim against the at-fault party.

That’s where traffic officers come in, offering to file a complaint on the victim’s behalf because the filing process is “very difficult,” says Julian Khoo, general manager of car trading website sgCarMart.

Drivers should first check for injuries. If not, drivers must exchange details such as name, address and ID, contact number and vehicle registration as well as company name.

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They should take pictures of all vehicles involved and any skids. Finally, they should write down the date, time and place of the incident.

In addition to Kho’s advice, drivers should call their insurer’s hotline and take their car to an approved reporting center or authorized workshop for repairs under insurance company-approved engine claims.

As Lee had left work to sort things out, third-party repairs, which could have cost S$1,000, were done instead. Medical expenses accounted for half of the total amount, even though the claimant had previously stated that he was not injured.

Touts work in groups and some workshops try to beat their competitors from around 2000 other workshops.

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For example, after the touts approached Tan’s former workshop owner (his real name) to service a few cars, he started paying referral fees of up to S$3,000 and at least “one or two” referrals per month. Received.

According to him, due to factors such as heavy traffic, ongoing construction and the presence of heavy vehicles, tractors regularly travel on roads with a “high accident rate”.

Tauts usually choose direct encounters and target accident victims. “The car workshop does not want to deal with the offender. And (actors) only deal with things that are close to 100 percent win,” Tan says.

He has heard advertisements saying that “in a good month, they can easily earn S$20,000”. Meanwhile, workshops may increase costs by up to 200 percent.

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As of April 2016, drivers making third-party claims must appoint a surveyor to assess the damage caused in the accident before repairs can begin.

Surveyors were already licensed. But in 2005, officials dropped the requirement to “reduce red tape and the regulatory burden on businesses”, after Minister of State (Finance) Lim Hoi Hua when the Assessors and Members of Parliament (Amendment) Bill was introduced for the second time in Parliament was called, he said.

Kelvin Teo, honorary secretary of the Association of Motor Appraisers of Singapore, believes that this change has led to an increase in the number of rogue surveyors.

“They are unqualified and nobody regulates them,” he says. And they “do whatever they think fit” because the surveyors’ fees “come from the estimate that the workshop gives” – meaning a high estimate means a high cost.

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Teo, who has seen his share of inflated claims in his more than 20 years of experience, thinks reinstating licensing requirements will help.

“Once we get the permit and regulations, there will be some sort of disciplinary action we can take against rogue surveyors,” he says.

As things stand, if a driver does not go to an authorized workshop, the insurance claim may increase by the time it reaches the insurer.

Thomas Kapler, group head of insurance at fintech firm Hyphen Group, says the question of intent arises.

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For example, a vehicle may not appear damaged after a “minor bumper crash,” but an inspection will reveal structural damage. Then the repair cost will be higher, which is a case of “inadvertent inflation”.

Intentional inflation, on the other hand, occurs when “someone says it costs more to make a profit (on it) than it actually costs.” “If a claim is deliberately inflated, it is called fraud.”

Police recently charged six men with motor insurance fraud in five traffic accidents in 2020 and last year. At least one of them has already been jailed.

Thomas Kapler (left) tells Talking Point host Sherry Bhargava that if drivers don’t report anything to the insurer, it’s hard to dispute an inflated claim.

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To help fight fraud, the General Insurance Association of Singapore (GIA) launched its Fraud Management System in 2017. To date, more than 300 claims have been made, 13 of which have been proven to be fraudulent.

“Although (the number) may not seem like a lot, the more information we give to this system that uses data analytics and artificial intelligence … the better the system will become,” Kapler said.

To encourage people to fight fraudulent claims, GIA also introduced an incentive-based initiative called the GIA Insurance Fraud Tip-Off. “If (people) find fraudulent behavior and can prove it, (they) can earn up to S$10,000,” Kapler said.

All of these measures have cost Lee, who lost his no-claims premium discount as long as he never made a claim on his motor policy.

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After his accident claim, his annual premium increased by 250% to S$3,500.

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After the accident, ask the other driver for your insurance information and driver’s license. Gather evidence to show what happened. Take photos and videos. Get the names and contact information of witnesses.

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Go to the hospital and get treated for your injuries. Follow your doctor’s instructions and continue with your treatment.

It is best to contact a personal injury attorney as soon as possible. Do not talk to the insurance company without talking to an attorney. Using the evidence they (or you) have gathered, your attorney will negotiate with the insurance company to get you the settlement you deserve. They only charge you a fee if they can get you the right settlement.

Note: Most of the time, lawyers can negotiate with the insurance company to settle the account. However, in very rare cases, a case may go to court. Typically, insurance companies don’t want to deal with this time-consuming and expensive process, so they opt to settle instead.

They won’t give you what you need unless you work with an attorney. Typically, if you approach them yourself, they will offer a low settlement or no settlement at all. They may try to put you on record through a recorded statement and say things that work against you. This is why it is important not to discuss anything with the insurance company until you have hired an attorney.

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Make sure you find an experienced attorney to look after you