Worst Vehicle Insurance Company In Sri Lanka

[AMG]

Guys think of this,

Insurence companies asses the value of the vehicle and calulate the probability of accidents then calculte the premium. So, If you are not renting or your vehicle is not leased, also your driving is carefull. calculate the amount you paid for them and what you have gained.

Go for 3rd party!!!!!!! only Rs 500.00. That's what I have been doing 4 my driving experience of 22 years (two minor accidents costing around Rs 15000/=). So think of that!!!!!!!!!!!!!!!!!!!!

I agree 100% with your statement as I have paid almost 200,000 as insurance premium to my current car and never claimed a penny. But what will you do if your vehicle was stolen? robbed? or fully damaged in a terrorist attack (ie: a suiside attack or something on the road) or a tsunami kinda thing? Thats what I always concern as If I am with third party and any of the above happened to my car, I will loose the whole thing. And I will have to start saving to buy another car and that will take a good 10 years as of our country's 'cheaper car prices'.

Edited August 8, 2009 by Bharatha

[ravisam]

I agree 100% with your statement as I have paid almost 200,000 to my current car and never claimed a penny. But what will you do if your vehicle was stolen? robbed? or fully damaged in a terrorist attack (ie: a suiside attack or something on the road) or a tsunami kinda thing? Thats what I always concern as If I am with third party and any of the above happened to my car, I will loose the whole thing. And I will have to start saving to buy another car and that will take a good 10 years as of our country's 'cheaper car prices'.

Yes, That is there. The premium calculation is included all of this taking the probability of stealing, accidents etc. So if you have done 3rd party you have to take the risk.

[AMG]

Yes, That is there. The premium calculation is included all of this taking the probability of stealing, accidents etc. So if you have done 3rd party you have to take the risk.

Simply I don't want to take that risk machan.

There is a policy called Third Party with Fire & Theft in some developed countries and as far as I know we don't have that here.

[jaga]

Simply I don't want to take that risk machan.

There is a policy called Third Party with Fire & Theft in some developed countries and as far as I know we don't have that here.

exactly you are at the risk. even my self had third party for about 06 years for my Lancer station wagon (value of the car aprox 300000 Rs) and had no accidents fortunatly but I never ever advise any body to go for 3rd party insurance since you never know when the bad luck comes.

As an example one person who is working with me changed his insurance to 3rd party and after couple of months the car (AE110) was robbed at the gun point at Piliyandala (5 years ago) and nothing found. THAT IS THE RISK.

[AMG]

As an example one person who is working with me changed his insurance to 3rd party and after couple of months the car (AE110) was robbed at the gun point at Piliyandala (5 years ago) and nothing found. THAT IS THE RISK.

Thats what I meant before. I will never ever go for a third party insurance policy.

[shermal]

I have had experience wit jan#shkti, cel##nco and SLIC. (wit three different cars)

I have had no problems wit cel##nco and jan#shkti and they have come at time, given proper assessments done payments quickly. Very satisfied.

As for SLIC i have good story to tel. Few months back called these guys up from a place that is only 1km from there branch. They took 45 minutes to come! and the whole time the idiot who talks on the hotline said that the agent wil be there whithin next 10 mins... After that fellow came he assessed the damage as 2500, and told me not to claim it, coz no-claim bonus is more worth... I blasted the fellow and he actually then assessed it for 7000.... But i have to fix and go and show that fellow to get the payment!!! I did not claim it mainly coz i don't hav time to fix the car and travel around insurance branches showcasing it. Atleast I keep my no-claim bonus so i can move to a better insurance co next time.

DO NOT GO FOR SLIC

But i have a bad experience with Jana, bcs they are not paying big damanages, over Rs.150,000, they are make a different stories and not paying the payment, be crefull guys !!!

[Ripper]

I have had experience wit jan#shkti, cel##nco and SLIC. (wit three different cars)

I have had no problems wit cel##nco and jan#shkti and they have come at time, given proper assessments done payments quickly. Very satisfied.

As for SLIC i have good story to tel. Few months back called these guys up from a place that is only 1km from there branch. They took 45 minutes to come! and the whole time the idiot who talks on the hotline said that the agent wil be there whithin next 10 mins... After that fellow came he assessed the damage as 2500, and told me not to claim it, coz no-claim bonus is more worth... I blasted the fellow and he actually then assessed it for 7000.... But i have to fix and go and show that fellow to get the payment!!! I did not claim it mainly coz i don't hav time to fix the car and travel around insurance branches showcasing it. Atleast I keep my no-claim bonus so i can move to a better insurance co next time.

DO NOT GO FOR SLIC

SLIC isn't that bad IMHO...

the first time i claimed from them...i went and knocked a PSD escort jeep right in front of temple trees while trying to change a song back then i used to take my eyes off the road for split second to look at the stereo, a habit i've stopped since then

anyways, the insurance guys came within like 10 mins, got all paper work done... got the car fixed at KP and the cost was 66k or summin like that...

i had no issues with that claim from SLIC's part but the experience with KP body shop was an absolutely horrible one...

The day of the Katu races i had a small mishap...called SLIC from Katu itself and that wasn't a pleasant experience..

the call centre lady was extremely rude... she was blaggarding me for moving the car cos under new regulations, u have to inform the coppers and get a report blah blah...

In my case that day, i hit a stationery object inside private land... not really an motor accident on the road so i didn't see the point in having to inform the cops...

Hell once my dog pulled down one of my mobikes onto the car that caused a significant dent, according to the SLIC call centre rep, in that case also i have to call the cops they might want a statement from the dog also bloody hillarious,,,

anyways...SLIC rep came to the location around 1.5-2hrs hours later.... did all the paper work and i'm through to go for repairs... need a new door

i'm waiting to see how this one goes...

In my experience, i think it all depends what people from SLIC's side you get to deal with...

the first time around it was all smooth sailing cos i think the people were far more professional...

[SeanD]

Guys think of this,

Insurence companies asses the value of the vehicle and calulate the probability of accidents then calculte the premium. So, If you are not renting or your vehicle is not leased, also your driving is carefull. calculate the amount you paid for them and what you have gained.

Go for 3rd party!!!!!!! only Rs 500.00. That's what I have been doing 4 my driving experience of 22 years (two minor accidents costing around Rs 15000/=). So think of that!!!!!!!!!!!!!!!!!!!!

I have had friends with many bad experiences of having buses knocking into parked cars and causing huge damages...I myself have had a car condemned because some idiot rammed into it with his pickup truck in a car park (drunk). Ya, we might think third party will work for us all the time- until we regret it. I think its a stupid argument unless you don't drive your car beyond your gate. Specially given the cost of car parts nowadays. If you're willing to spend and buy a car and fill it up with petrol, you should have the long term thinking to either be willing to insure it properly so you can get another car if this one goes belly up, or you should not get a car at all. Thats my opinion anyway. In USA when I lived there you could get a third party type insurance which also covered theft, but that was mostly got by students just because insurance is so expensive there (and we think we have it tough here). If you're willing to lose a car worth couple of million when its stolen then I guess third party is a-ok.

Edited August 10, 2009 by SeanD

[VVTi]

I have had friends with many bad experiences of having buses knocking into parked cars and causing huge damages...I myself have had a car condemned because some idiot rammed into it with his pickup truck in a car park (drunk). Ya, we might think third party will work for us all the time- until we regret it. I think its a stupid argument unless you don't drive your car beyond your gate. Specially given the cost of car parts nowadays. If you're willing to spend and buy a car and fill it up with petrol, you should have the long term thinking to either be willing to insure it properly so you can get another car if this one goes belly up, or you should not get a car at all. Thats my opinion anyway. In USA when I lived there you could get a third party type insurance which also covered theft, but that was mostly got by students just because insurance is so expensive there (and we think we have it tough here). If you're willing to lose a car worth couple of million when its stolen then I guess third party is a-ok.

well said... its not worth the loss.

I too regretted once for getting 3rd part. I had real run of bad luck one horrible week in 2003. 2 bad crashes in one week within the same police division. Damages 100K, 2 separate court cases, ect etc.

I saved Rs500 on insurance and spent 100K!!!

[Watchman]

In USA when I lived there you could get a third party type insurance which also covered theft, but that was mostly got by students just because insurance is so expensive there (and we think we have it tough here). If you're willing to lose a car worth couple of million when its stolen then I guess third party is a-ok.

We kinda DO have it tough here. Forget insurance, a students cant afford a car on their own money to begin with

Edited August 12, 2009 by Dilesh

[Watchman]

well said... its not worth the loss.

I too regretted once for getting 3rd part. I had real run of bad luck one horrible week in 2003. 2 bad crashes in one week within the same police division. Damages 100K, 2 separate court cases, ect etc.

I saved Rs500 on insurance and spent 100K!!!

At the same time look at it this way. Say you have 2 cars at home and you're the only one who drives. And lets say they're both average family sedans. I guess the premium would be around 30,000 a year? thats 60k a year on insurance. And your last major accident was in 2003.. so none in the last 6 years. You've paid 6x60k =360,000 on premiums where you claimed 100k on the repair. So one can say that you lost 260k in the deal.

Or on a single car you'd have lost 80k... you cant just push away 3rd party saying its all bad..Those who go for 3rd party (like our household) probably have a reason for doing so. Its not that they enjoy the possibility of paying for a huge accident repair.

[MkX]

Guys I am wanna do Insuarence for my EK3. I think value should be around 1.3M how much will be the premium.

Also I am thinking of E. g .l. e ins.?

[Corolla121]

Guys think of this,

Insurence companies asses the value of the vehicle and calulate the probability of accidents then calculte the premium. So, If you are not renting or your vehicle is not leased, also your driving is carefull. calculate the amount you paid for them and what you have gained.

Go for 3rd party!!!!!!! only Rs 500.00. That's what I have been doing 4 my driving experience of 22 years (two minor accidents costing around Rs 15000/=). So think of that!!!!!!!!!!!!!!!!!!!!

Mate, insurance is like gambling. either you win or lose. And for me the most impotant factor is the vehicle you are driving. If you are driving a car with expensive, hard to find metalic paint on it, even a minor scratch will cost you 15-25,000 RS on the spot.

Edited August 12, 2009 by Corolla121

[VVTi]

Mate, insurance is like gambling. either you win or lose. And for me the most impotant factor is the vehicle you are driving. If you are driving a car with expensive, hard to find metalic paint on it, even a minor scratch will cost you 15-25,000 RS on the spot.

3rd party is great as long as nothing happens year after year... but one day when your number is up, then what?? I will not risk either of my babies. No point in being penny wise pound foolish. No offense to anyone. The premium will be compared to nothing if you get T Boned by a TATA or a rear ended by a crazy van johnny. no offense to van owners too..

Just get a professional valuation done on your car and pay the specified premium and drive safely. Better be safe than sorry.

[Supra_Natural]

3rd party is great as long as nothing happens year after year... but one day when your number is up, then what?? I will not risk either of my babies. No point in being penny wise pound foolish. No offense to anyone. The premium will be compared to nothing if you get T Boned by a TATA or a rear ended by a crazy van johnny. no offense to van owners too..

Just get a professional valuation done on your car and pay the specified premium and drive safely. Better be safe than sorry.

Fully agree with this, 3rd party is ok as long as the car is rarely driven and kept in one place, but IMO not very practical for a vehicle that is used on a day to day basis, especially in the urban warfare that is workday traffic.

P.S. Had a good experience with Cey_linco today, GF's car was sideswiped by a bus in pepiliyana, They arrived within 10 minutes, did a quick assesment and passed the claim, all within half an hour! Didnt even require a report, although they advised filing one "for your own peace of mind". What ever else they are guilty of, the insurance arm I have to say is still pretty good!

Edited August 12, 2009 by Supra_Natural

[VVTi]

Fully agree with this, 3rd party is ok as long as the car is rarely driven and kept in one place, but IMO not very practical for a vehicle that is used on a day to day basis, especially in the urban warfare that is workday traffic.

P.S. Had a good experience with Cey_linco today, GF's car was sideswiped by a bus in pepiliyana, They arrived within 10 minutes, did a quick assesment and passed the claim, all within half an hour! Didnt even require a report, although they advised filing one "for your own peace of mind". What ever else they are guilty of, the insurance arm I have to say is still pretty good!

Double posting.

Edited August 12, 2009 by VVTi

[VVTi]

Fully agree with this, 3rd party is ok as long as the car is rarely driven and kept in one place, but IMO not very practical for a vehicle that is used on a day to day basis, especially in the urban warfare that is workday traffic.

P.S. Had a good experience with Cey_linco today, GF's car was sideswiped by a bus in pepiliyana, They arrived within 10 minutes, did a quick assesment and passed the claim, all within half an hour! Didnt even require a report, although they advised filing one "for your own peace of mind". What ever else they are guilty of, the insurance arm I have to say is still pretty good!

Supra, get the police report machang. I heard that every month all Insurance companies have to report to the police about their claims and the cops compare those claims against the reports and any missing ones will be noted and the drivers charged with Not reporting an accident.

C. V*P might be cutting corners due to the current issues plaguing the company and to keep the customers happy, but the law of the land must prevail. Just make an entry and say no injuries and minor damage.

[Supra_Natural]

Supra, get the police report machang. I heard that every month all Insurance companies have to report to the police about their claims and the cops compare those claims against the reports and any missing ones will be noted and the drivers charged with Not reporting an accident.

C. V*P might be cutting corners due to the current issues plaguing the company and to keep the customers happy, but the law of the land must prevail. Just make an entry and say no injuries and minor damage.

Was initially reluctant to do so because of a number of issues, But went ahead and put the report anyway just to be on the safe side

[Tikiri]

What VVti has mentioned is correct, I think Insurance co's are expected to send a report of accident claims to Police every month, there they catch the accidents and drivers who have not adhered to the law.

Better lodge an entry.

[gunat]

thought i'd share...

Got my insurance renewal for my car from the J-Sh***thi- they have jacked my premium by 20k (no itemization or explanation).

Being as i'm already miffed because of this "we only pay 75% for brand new parts if your car is older than 5 years"...and their general crap service, I got a quote from E**gle- 30k less with the same package!

There's my vote guys.

Edited September 30, 2009 by gunat

[SpEeD FrEak]

2day went to get an estimate Aprroved and they said That they are paying 95% of the Spare parts used and Paying the full am

amount for Lamps and Labour.Still the repair has not started and when the final bill comes,Can come to a Conclusion about J-Shakthi....

This is the First accident and Had Paid the Full option Premium for 3years.

Edited September 30, 2009 by SpEeD FrEak

[Prami]

Had some very bad experience with Uni#n As#urance..

My Insurance police will expire end of this month. So I wannar change my insurance company. Have to move for a good company.

Guys, Please let me know what is the best Insurance Company (claims & customer services, etc.).... Received good quotations from Eag*e & Cey*inco V*P. Have to select one soon.

Edited October 13, 2009 by Prami

[Tikiri]

All Insurance companies are good until you have a claim I think.

All depends on many factors like nature of the accident, whether the Ins co thinks there is some kind of foul play,

whether there were any lapses on your side etc etc..

If all factors are in your favour all companies will give a decent service.

[ae100]

My car is still under my father's name. He had been with SL I******* for a couple of decades now, and doesn't want to change no matter whatever the quotations I show him from other companies. (a typical father - son fight I guess)

Just one question guys. I had an accident a couple of months ago, and the Insurance company agreed to pay the full repair claim. everything went well until the final claim was paid. They had deducted Rs. 38K from the claim (and the claim was about Rs. 150K), the reason being 2 of my tyres were worn out..!! (and that contributed the crash it seems&*%$#*%$)

Can they do that??

[EXMAC]

My car is still under my father's name. He had been with SL I******* for a couple of decades now, and doesn't want to change no matter whatever the quotations I show him from other companies. (a typical father - son fight I guess)

Just one question guys. I had an accident a couple of months ago, and the Insurance company agreed to pay the full repair claim. everything went well until the final claim was paid. They had deducted Rs. 38K from the claim (and the claim was about Rs. 150K), the reason being 2 of my tyres were worn out..!! (and that contributed the crash it seems&*%$#*%$)

Can they do that??

Unfortunately yes they can do it....& It's a general cheap, underhand tactics done by Insurance Co. they tell u 2 go & do all the repairs & they will pay & pull this cheap move under u! leaving u pissed off big tym!

I had a similar incident with my byk....but i wrote a very strongly worded letter & made a racket about it & they paid the full amount....dont take it lying down....if u do u loose.

Generally the policy has a clause saying that the vehicle should be in good running/working condition it's based on this clause they cut down on the claim....but if u can support ur claim that it was not due to the fault of ur tires then they should pay up. the easiest way to prove this is 2 have a police report saying that it was the other parties fault....