advice, autos, cars, car accident: private settlement letter for car owners in singapore

You’ve had the misfortune of being involved in an accident. After surveying the damage, you realise that the damage is fairly minor, and neither party is keen on bringing it up to the respective insurers to previous that precious NCD.

With the consistent downpour of late, a momentary lapse of concentration is really all it takes to end up in the bumper of the car ahead of you. The risk of collision increases if your tyres (you should really check them regularly to ensure they aren’t overly worn, or have other issues that can lead to structural failures) are not up to scratch. If they aren’t, get them replaced as soon as you can!

If the collision is minor, both parties may not be willing to get their cars repaired via the insurance route. For starters, the downtime is longer going down this avenue, and that precious NCD that you’ve built up over the years would have had taken a hit.

NCD Protector

Many insurance companies offer an NCD protector as an add-on for your policy. These can be worth having, as a big value repair will cost you more than what you will pay for the add-on.

Again, keep this ‘get out of jail free’ card for instances where you’ll probably need it more. For accidents that result in the cars needing minor repair works, consider entertaining the private settlement option.

Protocol Post-Accident

advice, autos, cars, car accident: private settlement letter for car owners in singapore

You are supposed to report the accident to your insurance company regardless if you intend to claim or not. Legally, insurers are allowed to nullify your policy, or perhaps even dock your NCD for failing to do so.

Take photos of the vehicles at the scene of the collision. If no party is gravely injured, and the vehicles are driveable, you can proceed to shift the vehicles to a slower lane, or a road shoulder if you are on the expressway.

Exchange your details, and arrange for a tow if necessary to a workshop authorised by your insurer. This allows you to have a tangible figure on the cost of repairs. You can also see if it is worth claiming with your insurance, or if it is a figure that can be attributed to the at-fault party. This ensures compensation is agreed upon by both sides, and is fair.

A Walkthrough Of The Private Settlement Letter

advice, autos, cars, car accident: private settlement letter for car owners in singapore

Once the repair costs have been agreed upon, the next step is for both parties to sign a private settlement form. This is a legal binding agreement, in which both parties agree to settle the issue that has arisen without involving the law.

This letter should include:

Details Of The Accident

This should cover the location, date and time of the incident, as well as the parties involved. The registration numbers of each of the involved vehicles, the drivers’ full names, and NRIC will have to be included.

Terms Of The Agreement

This should clearly state that:

1) There was no personal injury or death that has arisen as a result of the accident;

2) Both parties are willing to settle the incident amicably;

3) The repair costs, and if it was to be borne by the at-fault driver, or if both parties are to pair for their own repairs;

4) Both parties will not elevate the case to the police; and

5) Both parties will not file a claim for damage with insurance as a consequence of the accident.

Acknowledgement

This section should include details such as the repair costs, and that both parties are willing to settle it without involving the insurance company, the authorities and without further pursuing restitution.

Do note that these documents are legally binding, and failure to adhere to the terms stipulated can lead to legal repercussions!

When The Dust Settles…

Ultimately, should you be involved in a fender-bender, it doesn’t hurt to remain calm, take multiple steps back to access the situation, and try and resolve the situation, at least from a paperwork standpoint.

Our handy guide will ensure that you are legally covered in the event both parties would like to pursue a private settlement.

These steps can be a bit confusing to follow and to piece together to form a coherent document. But we are Motorist pride ourselves in simplifying the ownership experience.

This is why we have compiled the steps into an easily accessible online document.

advice, autos, cars, car accident: private settlement letter for car owners in singapore
Click here to download our Private Settlement Form

Download the new Motorist App now. Designed by drivers for drivers, this all-in-one app lets you receive the latest traffic updates, gives you access to live traffic cameras, and helps you manage LTA and vehicle matters.

Did you know we have a Motorist Telegram Channel? Created exclusively for drivers and car owners in Singapore, you can get instant info about our latest promotions, articles, tips & hacks, or simply chat with the Motorist Team and fellow drivers.

Keyword: Car Accident: Private Settlement Letter for Car Owners in Singapore

CAR'S NEWS RELATED

Ex-Motability cars – should you buy one?

Ex-Motability cars are commonplace on the UK used car market but what are the pros and cons when it comes to buying one? As Europe’s largest car fleet operator, Motability accounts for one in ten of all new cars bought in Britain. That means it’s also a major supplier of ...

View more: Ex-Motability cars – should you buy one?

Stop-Start Myths And Misconceptions

Start-stop systems can be bothersome to live with. And with ever-tightening emissions regulations, it’s not something that you can actively avoid too. Progressively fitted to even mass-market cars towards the tail end of the 2010s, these systems help to reduce fuel consumption, and thus carbon emissions, by shutting your ...

View more: Stop-Start Myths And Misconceptions

mRecap: Week of 18th April 2022 - COE Price Significantly Drops Across All Categories, Ultimate Guide To Driving Into Malaysia And Citroën e-Berlingo mReview!

In this edition, we check out the ultimate guide to driving into Malaysia, April’s 2nd COE bidding significantly drops COE prices and we take the Citroën e-Berlingo for a ride! In short, if you’re looking for a condensed list of our weekly round-up, we have: The Ultimate Guide to Driving ...

View more: mRecap: Week of 18th April 2022 - COE Price Significantly Drops Across All Categories, Ultimate Guide To Driving Into Malaysia And Citroën e-Berlingo mReview!

The CUPRA Leon SP Is Your Best Companion For Work And Play!

CUPRA’s Leon SportsTourer would quite literally change the way you look at station wagons. This isn’t merely a large, practical estate that solely exists to excite the hypothalamus of the aged family man. It is much more than that. With a feisty powerplant under the bonnet, and sticky tyres ...

View more: The CUPRA Leon SP Is Your Best Companion For Work And Play!

Which car should I buy? Ford Falcon XR8 Ute v Holden Crewman SS

Ash T writes: “Having a bit of trouble here deciding my first car. It will be used for everyday things and also for work purposes such as carrying tools and equipment to work sites. I’ve narrowed it down to an ’04 Holden Crewman SS and an ’04 Ford Falon XR8 ...

View more: Which car should I buy? Ford Falcon XR8 Ute v Holden Crewman SS

Car suspension explained

Your car’s suspension is generally out of sight and out of mind, but it plays a crucial role – doing everything from ensuring the wheels stay connected with the road to stopping the car from shaking to pieces over rough surfaces. As well as smoothing a bumpy ride, it also ...

View more: Car suspension explained

Top things to consider when buying a family car

There are a few things one must sacrifice when one becomes a parent: Sunday sleep-ins, sleeping in general, date nights — and, most reluctantly of all, the two-door sports convertible. Yep, it’s time to consider the best family car for your growing brood. Here are a few things to consider ...

View more: Top things to consider when buying a family car

AA BUYER'S GUIDE: The best used rideshare vehicles

Photos / Supplied If you have decided to get into the rideshare game it’s important to choose your vehicle carefully. Many operators have a list of standard operating criteria that must be adhered to, so it’s important to check these out before you begin your search. Here are some ...

View more: AA BUYER'S GUIDE: The best used rideshare vehicles

DRIVEN EXPLAINS PART 5: Can a hybrid tow?

Car leasing with insurance: what is it and how does it work?

Driving Assists And How They Work: Part II

The Highway Code: What is it and how do I learn it?

Why Is Petrol So Expensive In Singapore?

What's the best thing to do at the end of a car PCP finance deal?

Most Bang-For-Your-Buck SUVs That You Can Buy Today | Motorist Recommends

The top 5 facts about hybrid cars and myths debunked

Vehicle weights explained | tare, kerb, GVM, payload and trailer figures

5 dangerous driving habits to watch out for

EV motors and batteries: How long do they last?

Tesla Cybertruck: Everything we know

OTHER CAR NEWS

;
Breaking thailand news, thai news, thailand news Verified News Story Network