Vehicle Insurance

[pathirana]

I got lowest quotation from Continental Insurance for my Vehicle Insurance. Can anybody advice me regarding their service ?

thanks

[hakjay]

I got lowest quotation from Continental Insurance for my Vehicle Insurance. Can anybody advice me regarding their service ?

thanks

I have never heard of this company. Must be new. As they say a new broom sweeps well. ( I could be wrong)

Edited September 11, 2010 by hakjay

[hyacc]

I have never heard of this company. Must be new. As they say a new broom sweeps well. ( I could be wrong)

It's the Harry Jayawardane's new insurance company.

[hakjay]

It's the Harry Jayawardane's new insurance company.

thanks for the info. Then it must be good

[3000cc]

Its Harrys' new company..... As far as I know they have taken over the Seeduwa former F**** P*** repair center.... Now its runs for the new company

[eranjan]

Can anybody share with us experience dealing with con***ntal insurance ? especially when getting claims

[AbeysinghE]

Can anybody share with us experience dealing with con***ntal insurance ? especially when getting claims

I have no personal experience with this new Insurance company..but one of my friend has insured his car there and he told me that they are giving damn cheap premium compared to other insurance companies..Since they are new in the market..my friend told me that he had no issues in claims also..but never know how it will be after some time..They have the formula world at seeduwa that was with SLIC before..I think the company is still in there implementation level..they have their offices right at the moment with Lankabell offices..and it's a fully owned subsidiary of famous DCSL

[The Don]

I actually work for an insurance company (not Sri Lankan), and anybody in the industry will tell you insurance is all about reputation, because it only comes into play when you have to make a claim.

Personally keeping premiums low is not sustainable long term and at some point they will have to go up to maintain their profit margins and costs. So they might be damn cheap for now but won't be for too long. Secondly they need to have a strong capital base to honour claims and this they might or might not have. Then they need the infrastructure to handle and evaluate claims.

This is why usually the biggest are also amongst the oldest. Insurance is an industry that has to take a long term view of matters.

Personally unless it makes a massive difference I would adopt a wait and see approach rather than jumping into bed with a new insurance company.