I was informed by my agent that 3rd party insurance is no longer applicable for my wife's car (over 15 years) but he converted it into comprehensive. Then came the shocker...
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Wat if the car was stolen? How much is the insurance company going to pay back? Surely the lower of both.
So if they are making losses, why in the world are they selling it? Go into other insurance and let the profitable ones handle it then. Isn't it more efficient if only the capable companies run the show rather than letting some cronies join in the bandwagon and eventually the tax-payer suffers.
Let's say if i own a Merc and drive my wife's car and bang into the rear, wouldn't it be more costly to the insurance company? And since i hv minor knocks and scratches it would be more advantageous since i could claim from her insurance
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Insurance Killer
Started by
DavidCoulthard
, Jun 08 2010 08:47 PM, 29 replies to this topic
#2
Posted 09 June 2010 - 08:06 PM
vr2turbo
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QUOTE (DavidCoulthard @ Jun 8 2010, 08:47 PM) <{POST_SNAPBACK}>
I was informed by my agent that 3rd party insurance is no longer applicable for my wife's car (over 15 years) but he converted it into comprehensive. Then came the shocker...
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Wat if the car was stolen? How much is the insurance company going to pay back? Surely the lower of both.
So if they are making losses, why in the world are they selling it? Go into other insurance and let the profitable ones handle it then. Isn't it more efficient if only the capable companies run the show rather than letting some cronies join in the bandwagon and eventually the tax-payer suffers.
Let's say if i own a Merc and drive my wife's car and bang into the rear, wouldn't it be more costly to the insurance company? And since i hv minor knocks and scratches it would be more advantageous since i could claim from her insurance
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Wat if the car was stolen? How much is the insurance company going to pay back? Surely the lower of both.
So if they are making losses, why in the world are they selling it? Go into other insurance and let the profitable ones handle it then. Isn't it more efficient if only the capable companies run the show rather than letting some cronies join in the bandwagon and eventually the tax-payer suffers.
Let's say if i own a Merc and drive my wife's car and bang into the rear, wouldn't it be more costly to the insurance company? And since i hv minor knocks and scratches it would be more advantageous since i could claim from her insurance
The premium is without NCB?
I have 2 cars over 15 years but their value have not dropped below RM10k yet. All this while on comprehensive insurance.
With windscreen cover and NCB, paying around RM400+
Insurance comes with free AAM membership. Good for us with cars over 15 years, Never know when they will kaput....
I know some people in the Insurance and they mention most Insurance are losing in the Car Insurance sector....
They make from other insurance....
#3
Posted 09 June 2010 - 08:12 PM
kaylcar
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Tokyo Drifter
yup...another scam by a government controlled economy!
QUOTE (DavidCoulthard @ Jun 8 2010, 08:47 PM) <{POST_SNAPBACK}>
I was informed by my agent that 3rd party insurance is no longer applicable for my wife's car (over 15 years) but he converted it into comprehensive. Then came the shocker...
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Wat if the car was stolen? How much is the insurance company going to pay back? Surely the lower of both.
So if they are making losses, why in the world are they selling it? Go into other insurance and let the profitable ones handle it then. Isn't it more efficient if only the capable companies run the show rather than letting some cronies join in the bandwagon and eventually the tax-payer suffers.
Let's say if i own a Merc and drive my wife's car and bang into the rear, wouldn't it be more costly to the insurance company? And since i hv minor knocks and scratches it would be more advantageous since i could claim from her insurance
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Wat if the car was stolen? How much is the insurance company going to pay back? Surely the lower of both.
So if they are making losses, why in the world are they selling it? Go into other insurance and let the profitable ones handle it then. Isn't it more efficient if only the capable companies run the show rather than letting some cronies join in the bandwagon and eventually the tax-payer suffers.
Let's say if i own a Merc and drive my wife's car and bang into the rear, wouldn't it be more costly to the insurance company? And since i hv minor knocks and scratches it would be more advantageous since i could claim from her insurance
1,463,700 Scoville heat units.....can u feel the burn?
#4
Posted 10 June 2010 - 07:45 AM
DSAI
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my 1.3 saga (22 years) kena rm 400++ wor...######.3rd party some more.even my EX5 (16 years) bike also 3rd party kena 200++ really cilakak!
a new hope...
#5
Posted 10 June 2010 - 08:54 AM
bigal26
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QUOTE (DSAI @ Jun 10 2010, 07:45 AM) <{POST_SNAPBACK}>
my 1.3 saga (22 years) kena rm 400++ wor...######.3rd party some more.even my EX5 (16 years) bike also 3rd party kena 200++ really cilakak!
I renewed my company's 13 yr old toyota van under comprehensive and our agent charged us 318 for coverage of 15k. Used to pay 85 for 3rd party.
#6
Posted 10 June 2010 - 09:20 AM
Dewi
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QUOTE (DSAI @ Jun 10 2010, 07:45 AM) <{POST_SNAPBACK}>
my 1.3 saga (22 years) kena rm 400++ wor...######.3rd party some more.even my EX5 (16 years) bike also 3rd party kena 200++ really cilakak!
Recently renewed my insurance for 1990, SAGA 1.3S.
Comprehensive coverage, for 10K (Minimum Amt required for 1st. Party).
Total Premium Quoted : RM400++.
Less: 55% NCB.
Actual Amt PAID = RM206.00
#7
Posted 10 June 2010 - 08:50 PM
bigal26
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QUOTE (DavidCoulthard @ Jun 8 2010, 08:47 PM) <{POST_SNAPBACK}>
I was informed by my agent that 3rd party insurance is no longer applicable for my wife's car (over 15 years) but he converted it into comprehensive. Then came the shocker...
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Last year's premium was around RM200++ but this year came to RM665!!! Sum insured RM10k... Market value RM3500.00!
Yah maybe your NCD is less?
#8
Posted 11 June 2010 - 11:11 AM
vr2turbo
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QUOTE (bigal26 @ Jun 10 2010, 08:50 PM) <{POST_SNAPBACK}>
Yah maybe your NCD is less?
Not only no NCD, but kena loading also.
Dewi was only quote RM400++ before NCD, but TS quote RM665, also for RM10k coverage which is minimum....
#9
Posted 11 June 2010 - 04:35 PM
bigal26
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QUOTE (vr2turbo @ Jun 11 2010, 11:11 AM) <{POST_SNAPBACK}>
Not only no NCD, but kena loading also.
Dewi was only quote RM400++ before NCD, but TS quote RM665, also for RM10k coverage which is minimum....
Dewi was only quote RM400++ before NCD, but TS quote RM665, also for RM10k coverage which is minimum....
Why is his loading higher? Dewi's car 22 years old, Yours and David's 15 years but he kena more..got banged before?
#10
Posted 11 June 2010 - 09:36 PM
vr2turbo
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QUOTE (bigal26 @ Jun 11 2010, 04:35 PM) <{POST_SNAPBACK}>
Why is his loading higher? Dewi's car 22 years old, Yours and David's 15 years but he kena more..got banged before?
Don't know leh! As far as I know all Insurance premium are the same for the same amount of coverage. Difference is the NCD.
Other than that is the loading......
