Singapore car accident claim are a regular occurrence in Singapore, especially with our congested roads and reckless drivers on the road. But while getting into a fender bender is more of a matter of when than if, it doesn’t always have to lead to an insurance claim. In fact, claiming can be counterproductive in some cases, leading to the loss of your no-claim discount and higher premiums when you renew your car insurance. That’s why it’s important to understand how private car accident settlement works in Singapore before making one or accepting a settlement offer.
Generally speaking, private accident settlements involve the injured party’s motor insurer paying compensation to them. This is a more convenient and affordable way to settle a dispute, as it avoids the hassle of dealing with lawyers and other third parties. But the benefits aren’t limited to saving money – it can also help you reach a quicker and fairer settlement.
However, it is essential that you seek professional advice before making a private car accident settlement. A good lawyer will help you determine the actual value of your case, including all losses incurred as a result of the accident. They’ll also ensure you get the maximum amount of compensation possible under the law.
A good car accident lawyer will also guide you on the legal process, ensuring you understand the different types of damages you may be entitled to, including special and general damages. They’ll also advise you on the best course of action for your particular situation, whether it be settling out-of-court or filing a court case. They can even help you make an informed choice about which insurance company to go with.
In a nutshell, your lawyer will help you negotiate with the other party’s insurance provider to reach a mutually acceptable resolution that’s fair and reasonable for both parties. If necessary, they’ll also represent you in court to defend your interests if negotiations prove fruitless. But if you’d rather avoid the hassle of a court battle, you can opt for a faster and more cost-effective out-of-court settlement with your insurer’s authorised panel of lawyers.
After the accident, remember to check for any injuries and call 999 or 995. Then, exchange details with the other driver (name(s), NRIC number, contact and vehicle registration numbers; or the company name for company-registered vehicles) and take photos of the scene and the damaged vehicles. Finally, report the accident to your insurer within 24 hours or by the next working day (if you fail to do so, your No Claim Discount could be impacted). Avoid unauthorised tow-truck operators and repair workshops, as they may complicate the accident reporting process. You should also stay away from unnecessary modifications that you’re advised not to do by your insurer.