Vehicle Insurance

[Jude Silva]

Hey guys,

I am looking for a better Insurance coverage for my car (nissan FB 15 2002 Super Saloon) Can you experts suggest me which company and which package is better and which options should I include and exclude. (for example since there is no terrorist problems I can omit terrorism cover)

Thank you very much

[Sylvi]

Hey guys,

I am looking for a better Insurance coverage for my car (nissan FB 15 2002 Super Saloon) Can you experts suggest me which company and which package is better and which options should I include and exclude. (for example since there is no terrorist problems I can omit terrorism cover)

Thank you very much

Sir,

I was with Celinco since they had problems I shifted to Union Assurance all insurance companies are same to get a Claim they will cut and chop from the Estimate.

I was told Celinco on the spot is good after new management.

Get other members comments also before you decide.

Do not forget include in the policy pay for transport charges if you meet with a Accident of the Vehicle

Wijesinghe.

[Sifaan]

I am looking for a better Insurance coverage for my car (nissan FB 15 2002 Super Saloon) Can you experts suggest me which company and which package is better and which options should I include and exclude. (for example since there is no terrorist problems I can omit terrorism cover)

I don't know enough about this game to advise you, but few questions:

1. Do you have existing no claim bonus? (You can use that to negotiate a good upfront discount even if you switch providers; but some providers may be more/less receptive to this tactic)

2. Who would repair the car if there was an accident? Would you be happy to go with the garage provided by the insurer? Would you prefer to get it done by the agent? (beware of "Owners Contribution").

3. Do you want cash for replacement vehicle if the car is going to be stuck in garage for an extensive repair? (how dependent are you on having a car all the time? anyway there is an excess on this kind of benefit)

4. Is this car only for personal use or will it be hired out?

5. Do you need Personal Accident Benefit or are passengers covered by other insurance policy?

[Jude Silva]

Hi Thank you for your ideas. I prefer to repair the car with the agents (A*W) and this car is only for personal use. (Mostly this car will run around 15 kms per day within colombo and this car is having 2 airbags (someone told me it will cost 20000 each to replace these) Since I this car for 22 lakhs before price cut what should be value I have to incloude?

Appreciate your suggestions

[Sifaan]

Hi Thank you for your ideas. I prefer to repair the car with the agents (A*W) and this car is only for personal use. (Mostly this car will run around 15 kms per day within colombo and this car is having 2 airbags (someone told me it will cost 20000 each to replace these) Since I this car for 22 lakhs before price cut what should be value I have to incloude?

Appreciate your suggestions

I'm supposed to receive a letter from insurance company showing how owner's contribution is calculated according to type of part and age of car (come to think of it, shouldn't it be age of part?). According to what the claims guy said, this is a standard formula for all insurance companies. But it would be good to know to avoid surprises when you go for claims.

I also plan to double check on the assessment for labour charges, because usually the labour charges at the agent are higher than what the insurance company assessor gives. Make sure you clear this before you put ink on paper!

For the policy I'm considering, if there is an accident and the airbag/s go off, they will cover 50% of the replacement cost (need to check if that is just the airbag, or also the dashboard). For an extra premium, they will cover the full cost (again, need to check if that is only airbag, or other parts as well). And then see if the extra cost is worth for the chances of airbag deployment - e.g. if you only drive few kms a day in colombo traffic, the chances of having an accident that severe is quite low.

I don't know if any insurer still requires a police report for a claim (you are still legally obliged to report to police, but it's convenient to separate the two!) - provided that their assessors review it onsite. don't know how the call-and-go thing works.

as for the value, to my understanding there is no advantage in over-valuing (more premium, but if the car was condemned you'd only get the present market value) or under-valuing (lower premium, but the claim you receive can be less than you need). that's from reading the terms and conditions. practical situation may differ and I don't know how it is.

to find the current price, call a few sellers and see or there was this motor magazine that showed price ranges for common models...

[Sifaan]

I got the info on Owners' Contribution from j********i (supposedly it's the same from other insurers but you can double check)

I've uploaded the original jpeg (very bad quality) as well as a word document (only typed the info relating to cars, bikes/tuk tuks is in the jpeg) here (it's a zip file).

[NahoY]

Apparently the law is now that you need to report an accident to the police if you want to make a claim. I had a small ding caused by a bus who tried to push me off the road - the on the spot guys came and did their bit. I sent the car to the garage (it's on a lease so I'm not the owner) they refused to repair it under insurance as I'd not made an entry - apparently its on the fine print of the on the spot form. Went to the police station the next day (cause the accident wasn't in town) and was told that if I made an entry then, the police would prosecute me for not reporting an accident....(although I was stood there wanting to report the accident)

Eventually sorted it, but also checked with a friend in the insurance field - apparently they are required by law to send the police a list of all claims that hve been made, with a note sto sy whether a police entry has been made.... so now you need to wait half an hour for the on the spot guy, and then go make an entry... what joy....

Edited August 20, 2010 by NahoY

[Sifaan]

Apparently the law is now that you need to report an accident to the police if you want to make a claim. I had a small ding caused by a bus who tried to push me off the road - the on the spot guys came and did their bit. I sent the car to the garage (it's on a lease so I'm not the owner) they refused to repair it under insurance as I'd not made an entry - apparently its on the fine print of the on the spot form. Went to the police station the next day (cause the accident wasn't in town) and was told that if I made an entry then, the police would prosecute me for not reporting an accident....(although I was stood there wanting to report the accident)

Eventually sorted it, but also checked with a friend in the insurance field - apparently they are required by law to send the police a list of all claims that hve been made, with a note sto sy whether a police entry has been made.... so now you need to wait half an hour for the on the spot guy, and then go make an entry... what joy....

According to j********i booklet (I don't know if it's outdated or something like that) it says that a police report is not required for the insurance claim if it is assessed at the site by their assessors. However, it says that we are still legally obliged to make a police report. Anyway, I will doublecheck with them before putting pen on paper...

[harshansenadhir]

According to j********i booklet (I don't know if it's outdated or something like that) it says that a police report is not required for the insurance claim if it is assessed at the site by their assessors. However, it says that we are still legally obliged to make a police report. Anyway, I will doublecheck with them before putting pen on paper...

as per the amendment of motor traffic law, now every accident suppose to report to nearest police station. Unless both parties pocket out the repair expenses.

When insurance send that claim list police will file charges for not reporting the accident and fine would be 5k or onwards. This is to make accident statistics accurate.

Edited August 22, 2010 by harshansenadhir

[Sifaan]

as per the amendment of motor traffic law, now every accident suppose to report to nearest police station. Unless both parties pocket out the repair expenses.

When insurance send that claim list police will file charges for not reporting the accident and fine would be 5k or onwards. This is to make accident statistics accurate.

hmm... so with the "Call & Go" policy, you call the insurer and then go to the police station and still miss the flight you were supposed to catch

[harshansenadhir]

hmm... so with the "Call & Go" policy, you call the insurer and then go to the police station and still miss the flight you were supposed to catch

not really, if paying 5k is better than missing the flight you always can proceed.

[Watchman]

not really, if paying 5k is better than missing the flight you always can proceed.

At the same time, you wouldn't be driving alone tot he A'port right? So can always pop into a cab and let whoever else is with you handle the cop/paper work

[Sifaan]

At the same time, you wouldn't be driving alone tot he A'port right? So can always pop into a cab and let whoever else is with you handle the cop/paper work

isn't it the driver who is supposed to report the accident?

[harshansenadhir]

isn't it the driver who is supposed to report the accident?

A person who has a valid driving license to drive the particular vehicle (and does not have any inability to drive, say under influence of liquor or any disability) and who has given authority/consent to drive the said vehicle by the owner of the vehicle.

If any person satisfies this criteria and if the third party has no objection or third party had not seen clearly who has been in the driving seat, that any person can report the accident .

If he's at guilt, court proceedings will be taken against that person, say this vehicle rear ended another one.

[Pericles]

Not a problem in Sri Lanka. AFAIK, we don't have a long term car park at the airport, so you really wouldn't be driving there by yourself. Nowhere to leave the car!