AsiaOne : What's the point of motor insurance?

[g8crasher]

What's the point of motor insurance?

I WAS taken aback when my motor insurance premium shot up from $695 last year to $4,098.13.

I called my insurance agent and insurance company. I was told a third-party claim of $21,400 against me was pending and because of this, I had to pay a hefty premium.

I find this hard to understand. Why would one buy motor insurance if such was the case? I paid only $100 to repair my car after the accident. The other party initially agreed to settle the matter, but changed her mind after she visited her workshop.

Subsequently, I received a claim for slightly more than $21,000 officially. How do I seek help and protection?

Eddie Low

http://www.asiaone.com/Motoring/Owners/Others/Story/A1Story20090301-125409.html

[Guest ladyseals80]

if there is no insurance, he will be paying 20k instead of 4k man... :laugh: