Car Insurance 2019/2020

[hrm]

Paid 68K for 5M cover @ SLIC last month.

[Dee Jay]

I got a quotation of 62,319 from SLIC for 3.1 million last Friday

[KevinSkinner]

1. Your Insurance company - SLIC.

2. Insurance type Full or 3rd party - Full.

3. How much per year with your Vehicle type and valuation - 71k for 3.5M (I saw on https://joywallet.com/best-car-insurance-companies/ that many companies also have pretty good deals, but SLIC is my all-time favorite).

4. How fast they paid your last insurance claim - Very quick, I was surprised, LOL.

5. How is their customer service when claiming - I didn't have any problems, they're always very polite, so I'm satisfied.

Edited August 21, 2021 by KevinSkinner

[mazdaspeed]

Hi Memebers,

as we are constantly going and coming out of lock down and  WFH and all that Jazz thanks to Covid, wanted to se if I can get some info on an alternative Insurance scheme.

I recall  a certain English Radio channel promoting a company where you pay about 1/2 the premium value and the balance can be paid only if you need to make a claim.

Does any one have any info on who  that was or  any alternative schemes ? Makes no scene to pay high values as the vehicle is mainly inside and not on the read in my case.

 

[GK_007]

Friends, has anyone of you renewed the insurance policy recently. Need bit of an advise here on setting the market value. Due to the prevailing 'artificial' market prices, is it advisable to set the policy for the market price. My agent warns me that that if we have undervalued significantly then they will pay a proportion e.g. Insured Value / Market Value. Is it true ? 

[Gummybr]

5 minutes ago, GK_007 said:

Friends, has anyone of you renewed the insurance policy recently. Need bit of an advise here on setting the market value. Due to the prevailing 'artificial' market prices, is it advisable to set the policy for the market price. My agent warns me that that if we have undervalued significantly then they will pay a proportion e.g. Insured Value / Market Value. Is it true ? 

This is an issue with the Insurance companies, they are trying to increase the premium even on vehicles that the insurance was done recently. My suggestion is to get an independent value from a vehicle valuer and give that to the insurance and also ask them in case the value comes down if they will reduce the premium from your next insurance.

[GK_007]

Thanks @Gummybr. @mazdaspeed I am thinking the same, saw that Fa**First has some sort of a customizable scheme. Has anyone have experience with Fa**First insurance ? How is the claim settlement process etc. Any thoughts... thanks 

[Sebasty1987]

Geico has been working well for me for the third year. I haven't worked with other insurance companies yet, but I plan to because I don't want to take any risks. It's simple. If before I thought that in this business I could not trust anyone, now I have found my favorite in the face of an expert in terms of insurance. I'm talking about this website which gave me useful advice on how to behave when taking out an insurance policy.

Edited March 21, 2022 by Sebasty1987