The Power of Protection 2 - Part 2 of 2

Earlier I was sharing about the story of my recent car accident which happened on 20 Mar 09. The whole episode had some lessons to learn from for me.

So what are some of the lessons I'd learnt? Before that, let me re-cap some facts I'd observed (including facts that was NOT mentioned in Part 1 of this blog entry):

1.  My first reaction after the accident was to check the well being of the motorist and his pillon.

2.  I took down the particulars of the opposite party immediately. The motorist didn't even request to see my NRIC card or get my contact information.

3.  The motorist is from Malaysia. His bike is Malaysia-registered. His insurance is bought in Malaysia.

4.  I did a quick estimate on the repair cost based on the extent of the damage I could see. I am very sure that I am able to settle the repair cost even at my own expense.

5.  I was much calmer than the motorist and the pillon after the accident had happened. Most of the time, I was in control of the communications.

6.  No photo was taken on the damages.

7.  I accepted the option of private settlement after the motorist agreed to fork out CASH IMMEDIATELY for the full repair of my car. Case is closed only when I received the CASH.

8.  I gave a discount to the motorist, after he handed over the compensation cash to me, by returning some notes back to him. And I told him to see a doctor with the cash returned to him.

9.  When the group of motorists left the workshop, i had a discussion with my mechanic. We agreed on minimal repair to my car as long as the repaired area looks pretty much the same as before. Less the cost of repair, i still get to pocket some cash from the compensation to offset my alternate mode of transportation during the repair period.

Findings

On reflection, below are some of the attributing factors that I think influenced the facts I'd highlighted above:

1.  I was glad that my first reaction was to check the well being of the motorist!! 10 years ago, i bet you to the last dollar that I will check the damages on my car first. (Basic human instinct??) At least, i know i have evolve as a person and not wasted 10 years of rice i'd eaten.

2.  I had a prior car accident in that vicinity not long ago, in Feb 09, just before Chinese New Year. (Believe it or not, that area is really very accident prone due to several terrain constrictions). Due to that incident, i had became more aware of the accident reporting and insurance claim procedures. My car insurance covered 100% of repair without any excess (with a insurance policy rider of course). With more knowledge, i am able to handle negiotions in a calm and compose manner (without showing much of my own inner shock) despite me against 6 others. (But if they choose to pick up a fight, i don't think there isn't any winning probability for me)

3.  I monitor and review my net worth and cash flow on a bi-weekly basis. Thus i am more aware of my financial situation. With that knowledge, i know where i stand financially to handle the negiotiation.

4.  I had just completed a 3-days course on effective communication @ NIE. I must really thank my lecturer, Associate Prof Teo-Koh Sock Miang, for her guidance!!! She did a great job by training me well. That skill allowed me to manage the negiotiation very well.

5.  The fact that the motorist crashed into my rear shows that he was tail-gating me. That's why even when i slowed down my car, he did not have the reaction time to brake and slow down in time to avoid the impact. This fact weaken his negiotiation stand.

6.  Motorists from Malaysia does have complication to their insurance claim if their insurance coverage is not worldwide, or at least must cover Singapore other than their host country (in his context). This put the motorist at a weaker end of the negiotiation.

7.  Due to my job nature, i am not allowed to carry a camera phone to my work place. Thus the most convenient method is to use a non-camera mbile phone. It is not common for most of us to carry a camera around. This is why i am unable to take any photo on-site.

8.  Earlier facts finding with the motorist revealed that he is just a worker at a nearby factory, and his income doesn't seems to be high. I guess this is why they are so worked up on the compensation part. This also triggered the compassion component in me that the motorist has to go through this ordeal.

Lessons Learnt

1.  We have to know the procedures for car accident well (in this context) in order to react appropriately and calmly in similar situations. Save your insurance company reporting telephone number in your mobile phone.

2.  We have to know our own insurance coverage very well so that we know what resources we will have or will be getting to absorb or offset any financial challenges ahead.

3.  Never undermine the Power of Emergency Cash. Rainy days do come once in a while.

4.  In such a situation, as long as there is no death or serious injury, it is possible for the issue to be resolved in a calm and peaceful manner. The rest are very much dependant on the negiotiation skills level of the people involved.

5.  The motorist was pretty astonished when I returned a few notes to him and ask him to see a doctor. I am glad that I did that gesture though i am not sure if he will appreciate it. Given the same situation, i will do it again. This is the best Win-Win situation i can think of at that point in time (and now too).

6.  On hindsight, i should not have opted for private settlement. What if the motorist, after a day of rest, thought of new excuses to bite me back?!?!? Although the motorist and his colleagues do not have any of my particulars (they didnt bother to copy down any), I am not sure if they can remember my car plate number. But i am sure they know where is the workshop i frequent now. [Side story: I had another highway car accident few years back where a black car rush into the left of my car and the driver was full of alcohol smell. The driver pleaded for private settlement (with all sort of "reasons" you can ever think of) and my heart soften for an agreement. One day later, he called and requested for insurance claim instead quoting that the repair was too high for him to absorb!! How clever he was... no more alcohol smell even if i want to make police report!!] I can only pray that history doesn't repeat itself and make me lose faith in our mankind's integrity.

7.  Due to a recent shift in my documentations to another location, i am having difficulties finding my insurance documents currently!! So keep your document safe for subsequent reference.

8.  Keep a disposible camera in your car. You really never know when you will need it!

Follow Ups

What I plan to follow up after this incident:

1.  Dig out and arrange my insurance documentations.

2.  Read my car insurance papers again, especially the small prints, and pay special attention to the country coverage.

3.  Buy a disposible camera and put in my car.

Do you have any accident story that you will like to share with me? Or any lesson learnt in similar incidents? I will be glad to hear from you. Do drop your sharing in the comments boxes below.

Till then, riders and drivers, take care. Good night.

Cheers!

Leroy

"When I Stop Learning, I Stop Living."