What Insurance Scheme Is Better V*P Or F****** P**

[Velocity]

well,

i have proof of what hapened with my father's jeep.. and if there's anyone from the Insurance company in question, contact me and i'll even give you the vehicles that are involved.

and Velicity, what do u mean lost your contract? were you fired from an Insurance company?

Oh dilesh the above notice was not for you, I am sorry if you misunderstood. Also i dont work for any insurance company. But i have been sued for couple of million dollars for not being able to keep my jab shut. Now let us end that topic here/

So Why i advised you was dont make the mistake I did. Be more intelligent and sought the problems in more diplomatic Manner or in Legal Way/

If you have problem just try to speak to a TOP guy of the company and they will surely resolve the issue. Or just contact Insurance Board.

[Newbi]

Just to give you guys a hint about Insurance Companies. A stupid van Driver came speeding on a bylane onto the main road that i was travelling on and I hit him cause he came out of no where. When I told him we had to go to the cp shed he took off, lucky i got the number down and traced him. He was charged in courts and found guilty. Now here is the real story.....

He was insured with the company that provides insurance to very important persons....and that where I went to get my 3rd party claim from. I put in my papers to his insurance Co. ( I am insured with a different Insurance Company) and had the pre repair inspection done by his insurance co. gave them the estimate from the agents, got the car repaired got his insurance Co to do the after repair inspection provided all documentation but have not received a cent yet. Here is the joake guys. The after repair inspection was done and the document were provided ni Dec 2005. .... Now choose wisely

guess wot......I WON.... GOT 97% REIMBURSMENT.....ALLWAYS PUT PEN TO PAPER... AND MAKE SURE YOU REGISTER POST YOU LETTER...... GOOD LUCK IN YOU CLAIMS

[sharkster]

guess wot......I WON.... GOT 97% REIMBURSMENT.....ALLWAYS PUT PEN TO PAPER... AND MAKE SURE YOU REGISTER POST YOU LETTER...... GOOD LUCK IN YOU CLAIMS

congrats man...it was a matter of time

[noaim]

Congrats.. if u got ny cash re-imbursed, let us know! :-"

[Newbi]

Congrats.. if u got ny cash re-imbursed, let us know! :-"

Sure did mate..... hehe I am a poor bugger and married with a Kid at that..... will probb use the money to buy the kid her milk powder and buy some dry fish and parrippu.....yum... gona have a feast once I get the money.... cant afford anything more .....lol..... rising cost of living.......

[noaim]

Sure did mate..... hehe I am a poor bugger and married with a Kid at that..... will probb use the money to buy the kid her milk powder and buy some dry fish and parrippu.....yum... gona have a feast once I get the money.... cant afford anything more .....lol..... rising cost of living.......

Hmm poor bugger, using the Net, thats nice to know.. Lankans r going hi tech!! lol... good for u!

[Thusha]

you know, my father has been owning a number of vehicles through the years ... and you know, he has ALWAYS bought 3rd party....

i too have asked him why he goes 3rd party....my father says in the duration of over 30 years that he's driven he has met with only one considerate accident.. that repair cos him about 90,000 (in 1997)... so even though he had to pocket it out, it was cheaper than having had fully insured his vehicles... if he goes to fully insure the vehicles every year that'd cost about 55,000 to 80,000 a year (not exactly sure cos never done it)...so say you do that for just 15 years.. it'd be over 1.5 million... but 3rd party is just 1100 a year, at j********i .... it was only some 250/- till a couple of years ago when the National Insurance Corporation was around..(i dot know if Madz will cut out the name, but its common knowledge)

and another point he brings out is, when you know you'll be pocketing out for the repairs on any damages to your car, you sub-consciously tend to drive more carefully..... now would you rather meet with no accident or meet with an accident and have insurance pay… and guys… insurance companies don’t pay out of their pockets… they pay us back OUR OWN money… and only part of it for that matter....

but say someone else comes and crashes into you, in that case if its not your fault, get the person responsible to pay…. Fair isn’t it?

and a little food for thought... some Insurance companies dont give 3rd party coverage anymore, cos they have found out that they cant make a lot of profits with those.... so think about it....

yes u r right... i thought of same as u earlier, nowadays accidents r so unpredictable one of friend met wit an accident 'cause of not his fault other guy who drove the car has slept and came on my friends way nothing to do its a bend and crash. machan its young blood its better fully insured. i'm not owned insurance company ok

i had V*P previously and i have shifted to the F*.... P*... now. 'cause service is gud, both of them, premium is less in F*..P*..

[Watchman]

guess wot......I WON.... GOT 97% REIMBURSMENT.....ALLWAYS PUT PEN TO PAPER... AND MAKE SURE YOU REGISTER POST YOU LETTER...... GOOD LUCK IN YOU CLAIMS

congrats man!!! if you dont mind me asking how much was the full claim? cos i'm thinking the larger the number the harder it is to squeeze out of them..

[Memphis]

guess wot......I WON.... GOT 97% REIMBURSMENT.....ALLWAYS PUT PEN TO PAPER... AND MAKE SURE YOU REGISTER POST YOU LETTER...... GOOD LUCK IN YOU CLAIMS

That good news man.. congrats Let us know the full details.. so that we can follow the same... just in case

[Newbi]

That good news man.. congrats Let us know the full details.. so that we can follow the same... just in case

Initially They offerd me 50% of the total claim...I told them I did not care what they paid me or even if they did not pay me all I wanted was a letter of if they were going to pay me or not if they were paying me how much and the reason they were paying me that much and not the approved claimable amount. Each time i wrote to them I copied it to the next person up the ladder since none of my letters were replied. I finally went to the big man, Not the biggest.......and he offered me the 97%. All mail sent were registered mail.

[BurnRubber]

Guys what do all of you think of the *Total Drive* policy which is offered by Am#na Tak#ful, heard it was pretty good as well.

[tiv]

Bringing up an old thread to let you guys know how the F**** P*** now known as Motor Plus is functioning

Few days ago while parked, the Hilux was rear ended by and unknown vehicle, pretty much hit and run, did the usual call and the guy on the bike came, pretty much agreed with the whole situation, did not ask for police reports etc.

As per their request I got quotations for the Chrome rear bumper and the tail light, due to unavailability I had to resort to Toyota Lanka where the have the bumper but quoted 89K. The light was of course no issue

Ever since the relative personnel in the above insurance office saw this, they have been finding various ways to chop this down.

Initially they came up with a clause saying that my vehicle (personal import UK) falls into the reconditioned category thereby they will only pay for reconditioned parts, and they will reduce 5% per year from the YOM leading to a total deduction of 25% of the total sum of the repair.

The above reputed company calls shady joints all over and say that this Tom Dick and Harry can give it for this sum etc, whereas these people need to be called and waited for under a tree till they show up to let alone shops and quotations

Furthermore today the so-called engineer from the above company says that only the chrome bit of the bumper can replaced and he inquired from Toyota Lanka, on inquiring from them it was a laughing matter as this bumper is an oem single piece. On calling him it turned out into an arguement and this man slammed the phone saying until he verifies this the claim will go no further. Due to my busy schedule I failed to take this to him today, Also he is asking for a "fixing charge quotation" when I say its a simple job that my mechanic can attend to. Seemed like he is just fooling about due to some reason and delaying the matter.

Been over 4 days to date and they are still not approving the claim let alone advance or cheques etc and finding ways to cut down the total sum of the repair. for all you Autolankans, if there is a hit and run somehow catch the person sigh', and choose your Insurance provider wisely.

Edited August 8, 2014 by tiv

[maheshw]

Totally agree with you.. same experience in Sri...La... Insu.....Fo... P....

what they can do is only cut the claim not the customer satisfied service.

how they explain it,

SIr,your vehicle is more than 10 yrs old so & so we've to cut 10% from your bill,

since your vehicle is a reconditioned one so & so we can pay only 70% for the parts,

sorry you have not include this part when taking the insurance, (this will apply for fogs, lip kits, spoilers)

even if you write to their CEO nothing will happen....

[tiv]

Been a Week to-date, they are still refusing to pay as the say that they Bumper in Toyota Lanka Wattala is cheaper than the one in Kandy. Still no progress. Will update.

[The Don]

This is one of the big problems I have with motor insurance in Sri Lanka. Since most of the cars I own are old, I run them on third party only and when they crash I pay out for the repairs.

The issue is mainly around the insurance concept of indemnity. Now to indemnify would normally mean to reinstate you back to the position you were at before. Now this is not straight forward when you consider practical implications like

1. In a lay person's perspective to indemnify after an accident would be to restore back to the undamaged state the car was before. In practical terms it is nearly impossible to identify this state in an older car as the car has aged, yet can you ever replicate the aging process during a repair?

2. They try to use various formulas to calculate the claim. Yet they only use the value of the car to calculate premium. How is this even possible, for example a rare car might have a low market value but have no parts in the island and importing parts are always expensive. To be honest none of these bloddy formulas make sense!

3. The end result of all of the above reductions can mean a car that can't be repaired as the policy has not paid enough to fund the repair and what a ridiculous situation to be in!

In most countries, for repairs you calculate premium depending on the car. A car with easy availability of parts will command less premium. And on repair, they will pay out for new parts because thats the only objective basis you could calculate the cost of repair. Used parts may or may not be available/ suitable. Thats really the bottom line.

And from a practical pespective, lets just say 2 family members have been banging one of the cars around resulting in insurance claims. The cost of premium per year is around 55K. But due to payout limits etc the monies authorised have only funded panel repairs and re spray and not replacements. The back side of the car now looks a little wonky. As a result, I now have to pay to replace the rear bumper etc to achieve the quality of repair I want. Which makes me think, perhaps 3rd party insurance would have suited this car as well

[tiv]

This is one of the big problems I have with motor insurance in Sri Lanka. Since most of the cars I own are old, I run them on third party only and when they crash I pay out for the repairs.

The issue is mainly around the insurance concept of indemnity. Now to indemnify would normally mean to reinstate you back to the position you were at before. Now this is not straight forward when you consider practical implications like

1. In a lay person's perspective to indemnify after an accident would be to restore back to the undamaged state the car was before. In practical terms it is nearly impossible to identify this state in an older car as the car has aged, yet can you ever replicate the aging process during a repair?

2. They try to use various formulas to calculate the claim. Yet they only use the value of the car to calculate premium. How is this even possible, for example a rare car might have a low market value but have no parts in the island and importing parts are always expensive. To be honest none of these bloddy formulas make sense!

3. The end result of all of the above reductions can mean a car that can't be repaired as the policy has not paid enough to fund the repair and what a ridiculous situation to be in!

In most countries, for repairs you calculate premium depending on the car. A car with easy availability of parts will command less premium. And on repair, they will pay out for new parts because thats the only objective basis you could calculate the cost of repair. Used parts may or may not be available/ suitable. Thats really the bottom line.

And from a practical pespective, lets just say 2 family members have been banging one of the cars around resulting in insurance claims. The cost of premium per year is around 55K. But due to payout limits etc the monies authorised have only funded panel repairs and re spray and not replacements. The back side of the car now looks a little wonky. As a result, I now have to pay to replace the rear bumper etc to achieve the quality of repair I want. Which makes me think, perhaps 3rd party insurance would have suited this car as well

True mate, but in my situation I got this in 2011, used ticked only 10000+ miles as per odo, I've pretty much over-insured its value.. As for the parts my god the prices! I replaced the tail light off my pocket, Started on the body work as well, If this claim doesn't work out I'll probably have to shell out almost 1.5x my premium after buying the bumper.

In a country like ours where bus drivers rear end cars and smile, and a bumper costs hideous figures, I decided a full cover would save me

Thus I decided to fully insure now ending in this fate.

I had used J******k*i previously, in service-wise they were amazing, total claim settled under 1 day and they pretty much over-settled the claims in my case, as i'm overseas most of the time, I arranged this policy through a broker. sigh'

Edited August 15, 2014 by tiv

[The Don]

True mate, but in my situation I got this in 2011, used ticked only 10000+ miles as per odo, I've pretty much over-insured its value.. As for the parts my god the prices! I replaced the tail light off my pocket, Started on the body work as well, If this claim doesn't work out I'll probably have to shell out almost 1.5x my premium after buying the bumper.

In a country like ours where bus drivers rear end cars and smile, and a bumper costs hideous figures, I decided a full cover would save me

Thus I decided to fully insure now ending in this fate.

I had used J******k*i previously, in service-wise they were amazing, total claim settled under 1 day and they pretty much over-settled the claims in my case, as i'm overseas most of the time, I arranged this policy through a broker. sigh'

Certainly is very useful in total loss scenarios. But the math doesn't seem to add up for the usual bruises if you are a careful driver.

In some cases importing the parts yourself, used via a shipping agent is an option. Have been doing a bit of that through one of them recently. The process is fairly painless, but you have to wait a while to get the parts. They do offer an air cargo option as well though.

[tiv]

So today I receive a cheque of Rs.48000 as advance,

The total quotation for parts was some Rs.114000 odd excluding bodywork etc.

They say they pay 60% as advance and the rest later, yet they fail to state the amount passed for the claim until the bills are produced.

So doing the math pretty much they've chopped of Rs. 30000-35000 off the original sum.

[The Don]

So today I receive a cheque of Rs.48000 as advance,

The total quotation for parts was some Rs.114000 odd excluding bodywork etc.

They say they pay 60% as advance and the rest later, yet they fail to state the amount passed for the claim until the bills are produced.

So doing the math pretty much they've chopped of Rs. 30000-35000 off the original sum.

Motor plus is from Sri Lanka Ins?

[VVTi]

..and hence now I run 3rd party on all 3 cars.... if I crash, I crash and I will fix it on my terms No need to chase after some in bred retard.

[tiv]

Motor plus is from Sri Lanka Ins?

Yup,

..and hence now I run 3rd party on all 3 cars.... if I crash, I crash and I will fix it on my terms No need to chase after some in bred retard.

True mate after issues like this it looks like a risk worth taking even with a newer car especially compared to premiums well over 75k

Also another thing I learnt, there was one lower level employee not known to me by any means before and not having any benefit from my scenario in the above institution, this gentlemen worked really hard to get me some justice over this matter, made me realize that the so called educated hierarchy of these institutions pull of these scams mostly and the inferiors take the crap.

Edited August 20, 2014 by tiv

[The Don]

..and hence now I run 3rd party on all 3 cars.... if I crash, I crash and I will fix it on my terms No need to chase after some in bred retard.

Same here. Have you found the part you are looking for? Contacted a few more people but none seem to have it.

Yup,

True mate after issues like this it looks like a risk worth taking even with a newer car especially compared to premiums well over 75k

The problem is the amount of claims these guys get from the bad drivers, hence the high premiums. Also this place is now run by the state so this is not unexpected in a sense.......

I hope at some point these guys will allow different tiers of policy or something, and the top tier will have new for old replacement.

[VVTi]

Same here. Have you found the part you are looking for? Contacted a few more people but none seem to have it.

I think I may have a replacement I Will PM you the details. Locally of course.

[The Don]

I think I may have a replacement I Will PM you the details. Locally of course.

Thats good man! Importing parts is a costly exercise as me and the good doctor have found of late. But the funny thing is a lot of guys told me it was sold, so somebody is buying these things (either that or they are lying).

[gunat]

Reviving the thread.

Any recommendations on a good insurer? It seems that V*P/SL*C/J*shakthi are still the worst when it comes to claims for the average car (ie. newly registered, but used).

Heard good things about Un*on Assurance...does anyone else have some good experiences to share?