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Saturn

Insurance Question, Please Help.

Question

Guys, is Eagle/Aviva any good, for car insurance? Got a decent quote from them and I'm considering switching - what do you think?

Edited by Saturn

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I've been with Aviva for the last year and 2-3 months back they have increased their premium

for private cars. Had to pay Rs.37,000/- for 1.1Mn in last week. :angry:

was that the total, or just the premium?

with j********i ~9 months ago, for 2m the basic premium was 45k, less 25% NCB... after adding flood, riot, charges, taxes and whatnot it came to 49k.

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Thankks everyone for ur valuable inputs. I guess i'm gonna go with aviva ndb. Gonna take for onyear n see

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Really? I paid only 39,000 for 2.1m with Aviva last October!

Very sorry bro, U have to pay more than that for the next year and u can just check with them.

Cos I done it through one of my friends working for Aviva.

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was that the total, or just the premium?

with j********i ~9 months ago, for 2m the basic premium was 45k, less 25% NCB... after adding flood, riot, charges, taxes and whatnot it came to 49k.

It was the total with all charges and taxes.

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Actually insurance premiums have increased. Don't really understand why. With the war being over, now sl is muh safer place., but premiums gone up....! May be somethin gotta do wit ban kin moon :D . Anyways j********i quoted me 46k for 1.5mil - the basic cover. Aviva quoted 3.6k for the same

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Actually insurance premiums have increased. Don't really understand why. With the war being over, now sl is muh safer place., but premiums gone up....! May be somethin gotta do wit ban kin moon :D . Anyways j********i quoted me 46k for 1.5mil - the basic cover. Aviva quoted 3.6k for the same

well, war/terrorism was never covered by the "full insurance" premium anyway - you had to purchase an additional cover for that (and now you don't). any actuarian types on AL who can explain why it's going up?

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I was with AVIVA and had a claim once during year since a driver bumped in from the back. Had to replace the rear buffer. They asked me to contribute 10% of the buffer cost. It's strange since some forum members say AVIVA gave them full amount for part re-placement ?? :blink:

And i thought they would not deduct no claim since it was other driver's fault..

( My vehicle Manufactured in 2008/Dec; registered in 2011/June.

And they are now asking me to pay Rs. 60,000/- for the renewal for Rs. 2.3 Mn ... :blink: :blink:

Is it worth to stick with AVIVA or can any of you suggest a good alternative? Thanks in advance.

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Hey guys why do some say C#ylinco is bad.All our current cars and previous cars were under them. We've never had to face any problem in covering a claim actually.So did something go wrong for any of you guys with them ?

Edited by CyRaX

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I was with AVIVA and had a claim once during year since a driver bumped in from the back. Had to replace the rear buffer. They asked me to contribute 10% of the buffer cost. It's strange since some forum members say AVIVA gave them full amount for part re-placement ?? :blink:

And i thought they would not deduct no claim since it was other driver's fault..

( My vehicle Manufactured in 2008/Dec; registered in 2011/June.

And they are now asking me to pay Rs. 60,000/- for the renewal for Rs. 2.3 Mn ... :blink: :blink:

Is it worth to stick with AVIVA or can any of you suggest a good alternative? Thanks in advance.

Does not matter who's fault it is- you claim and you lose the NCB- when they calculate the amount they contribute to the damage, its based on the sum insured verses the market value of the car. If both are about the same then should pay 100%- didnt you ask them why they deducted 10%?

Hmmm 60k for 2.3 mil is high. I'm with them and the proportionate amount I pay is lower. There are certain non essential elements that you could remove from the policy in order to reduce the cost- advice you go through the details and check

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I was with AVIVA and had a claim once during year since a driver bumped in from the back. Had to replace the rear buffer. They asked me to contribute 10% of the buffer cost. It's strange since some forum members say AVIVA gave them full amount for part re-placement ?? :blink:

And i thought they would not deduct no claim since it was other driver's fault..

( My vehicle Manufactured in 2008/Dec; registered in 2011/June.

And they are now asking me to pay Rs. 60,000/- for the renewal for Rs. 2.3 Mn ... :blink: :blink:

Is it worth to stick with AVIVA or can any of you suggest a good alternative? Thanks in advance.

OMG !!!!! 60k for 2.3Mn

did you get a quotation from Sri_Lanka__ *Insurarance? last year I paid around 38k for 2.0Mn. I need to renew it in next month too.. :blink:

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what abt Peoples Insurance ??

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OT: Do insurers share data about clients and associated risks?

My line of thinking is that if you're a routine claimer, prone to accidents (yours or others fault), your risk status will be upgraded and consequently your premium would go up.

But if you go insurer hopping, it seems that the new guy either does not know or ignore the past performance of the insured or just give a lesser premium in view of luring new business.

Then again you're insuring a vehicle and not a particular (bad or good) driver - so I'm assuming a 1 to 1 map of car to driver.

How does it work?

On Aviva - I've been with them 2 1/2 years with 2 vehicles, they always paid up 100% and extremely punctually (2 claims, both not due to my fault) and transferred premiums between my old and new cars without any fuss or reductions. However they hv generally increased their premiums since start of this year and obviously your NCP goes even for a little claim.

Just looking to see if insurer hopping would reduce premiums and some suggest.

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OT: Do insurers share data about clients and associated risks?

My line of thinking is that if you're a routine claimer, prone to accidents (yours or others fault), your risk status will be upgraded and consequently your premium would go up.

But if you go insurer hopping, it seems that the new guy either does not know or ignore the past performance of the insured or just give a lesser premium in view of luring new business.

Then again you're insuring a vehicle and not a particular (bad or good) driver - so I'm assuming a 1 to 1 map of car to driver.

How does it work?

On Aviva - I've been with them 2 1/2 years with 2 vehicles, they always paid up 100% and extremely punctually (2 claims, both not due to my fault) and transferred premiums between my old and new cars without any fuss or reductions. However they hv generally increased their premiums since start of this year and obviously your NCP goes even for a little claim.

Just looking to see if insurer hopping would reduce premiums and some suggest.

The insurers do share NCB information- in some cases at least

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My first year with Aviva NDB, made my first claim yesterday

they paid in full to the garage(their listed garage) no fuss :)

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If you are in a corporate package, no matter the name of the insurance company, you will be treated well.

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im not sure if the insurance companies here in SL share a common database but thats a common practice in many western countries hence they have your full insurance history and any claims made within the last 3-5 years will show up and have an impact on your premium

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Actually insurance premiums have increased. Don't really understand why. With the war being over, now sl is muh safer place., but premiums gone up....! May be somethin gotta do wit ban kin moon :D . Anyways j********i quoted me 46k for 1.5mil - the basic cover. Aviva quoted 3.6k for the same

small update on insurance prices;

when I bought the insurance from j********i last year september, for 2.0m cover, the premium was 40,450 and total was 47,282 (this was after 25% NCB and 10% additional discount)

when I got the renewal letter last month, they were quoting renewal premium of 48,643 and total was 56,197 (it says "NO CLAIM BONUS ALLOWED" but not clear if there is one, and how much).

When I called the guy who sold me the policy, he was able to get the quotation revised, and now the total I have to pay is a tad over 48k (i.e. more or less the same as before). This time the NCB was shown.

Anyway, if you're premium has increased, then it's certainly worth to talk to them before forking out the money!

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You can also take the renewal notice to the competition and shop for a better deal...and then use that as a negotiation tool with your current insurer( if you want to stick with them)

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Got three policies:

1. SLIC, 85k (fully comp. with all extras except windscreen cover) for 3.3 million (with 30% NCB), no claims yet.

2. SLIC, 48k (fully comp. with all extras except windscreen cover) for 1.9 million (with 30% NCB), no claims yet.

3. Cey_lin_co, 30k for 0.95 million. Bad experience with them, tried to make a claim, they came to the scene, after agreeing, went to agent and then they fussed abt paying such high costs for a small job and gave me only 25% of what I paid, and took off all my NCB. Cancelling the policy at the end of the year.

Edited by ShintaroX

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Got three policies:

1. SLIC, 85k (fully comp. with all extras except windscreen cover) for 3.3 million (with 30% NCB), no claims yet.

2. SLIC, 48k (fully comp. with all extras except windscreen cover) for 1.9 million (with 30% NCB), no claims yet.

3. Cey_lin_co, 30k for 0.95 million. Bad experience with them, tried to make a claim, they came to the scene, after agreeing, went to agent and then they fussed abt paying such high costs for a small job and gave me only 25% of what I paid, and took off all my NCB. Cancelling the policy at the end of the year.

i got the same response from c-ylin-o V-p. damn they treat like we r robbers. i turned my back on them. it was my 1st and last. sticking with slic, now happy so far :D:-)

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i got the same response from c-ylin-o V-p. damn they treat like we r robbers. i turned my back on them. it was my 1st and last. sticking with slic, now happy so far :D:-)

Smart move. Haven't heard anything bad about SLIC yet. So far smooth sailing.

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Smart move. Haven't heard anything bad about SLIC yet. So far smooth sailing.

'ShintaroX',

I was always with Union assurance they once paid 175000.00 accident repair bill only less rupees 7500.00.

Sylvi Wijesinghe.

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Smart move. Haven't heard anything bad about SLIC yet. So far smooth sailing.

'ShintaroX',

I heard yesterday all other insurance companies quoted over Rupees 30000.00 for Tata Nano.

SLIC was 33% less that their quotation.

I give figures as under.This may be only for Tata Nano.

Sylvi Wijesinghe.

--------------------------------------------------------------------------------

1. Attractive insurance premiums.

2. There is no excess payable by the customer on any amount of claims with in the annual period.

3. There is no limitation on the value per claim or the amount of claims per year.

4. At an event of Total Loss full amount will be paid subject to the sum insured.

5. All repairs will be accommodated in the D*MO workshop.

6. A fix premium will be charge for period of five years.

7. 24-Hour road-side assistance and towing facility.

8. No payment required for the immediate release of the repaired vehicle.

Quotation

PRIVATE CAR

NEW BUSINESS Type of Cover- Comprehensive Policy

Vehicle /Chassie Number :

Estimated Value of Vehicle : Rs. 1100000

Period of Insurance : 1 Year Passengers 5

Rs. cts.

+ Basic Premium on Vehicle 24,750.00

+ Hire Purchase / Leasing Vehicle 6,187.50

- Discount 17,015.63

+ Natural Disaster Cover ** 2,475.00

+ Net Premium 16,396.88

+ Riot & Civil Commotion Risks on on Vehicle 2,200.00

* Net RCC Premium 2,200.00

+ Administrative Fee 185.97

+ Road Safety Contribution Fund 10.00

+ Policy Fee 300.00

+ NBT 389.65

+ Taxes 2,337.90

* TOTAL PAYABLE AMOUNT 21,820.40

** Natural Disaster Cover - Damages resulted from

Cyclone Storm , Flood , Tidal Waves , Hurricane , Tornado ,

Land Slide , Typhoon , Hail Storm , Tempest , Volcanic Eruption ,

Tsunami , Seaquake , Earth Slip , & Earthquake will be covered.

Finance Business Development

Srilanka Insurance Corporation

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Hello guys,

i'm planning to take SLIC policy listed above in "Sylvi" post, could you guys give any advice ??,

what should i check and ask before getting the policy from SLIC ??

and according to the above will they pay 100 % of the claim ?,

or do i have to pay anything ??

do they offer cover against fire accidents(since you all know about TATA Nano's fire accidents) ??

Thank you,

suren

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and according to the above will they pay 100 % of the claim ?,

or do i have to pay anything ??

I don't think any insurance company pays 100%

there's something called a deductible (a few thousand rupees) - basically if any single incident costs less than the deductible to repair, they will not pay at all (i.e. no payment for trivial repairs)

If the cost is more than that, then they will pay at most "100%" less the deductible

for fire - it depends on the cause of the fire; if there is some external fire that also burns the car it is one thing, if someone sets fire to the car it's another, and a manufacturer defect is totally another matter!

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