What should be a justified insurance rate for a 2018 Honda Civic

[Sheroo1]

Hi,

I recently figured out that my insurance agent has been scamming me for quite some time now. The invoice price of the car was ~2,825,000 before WHT when I bought it, have kept it insured since from UBL and haven't had any claims. Currently what the agent is asking is 77,000 against insured value of 3.5m (~2.2%) which is what I've been paying for the last couple of years. Recently I learned that current market rate is ~1.7% and there is also a concept of 'No Claim Bonus'.

What should I do now?
Should I change my agent?
Should I change my insurance company?
What other things should I know in this regard?

I am a complete noob in this matter and will appreciate all the help/advice/knowledge that I can get.

Thanks.

[noobie]

Just change the insurance company. Call any other insurance company and they'll be more than happy to insure your car at ~1.7 to 1.8%

[roboxx]

I recently got my 2018 Honda City insured at 1.75% rate from Pak-Qatar Takaful

[abid110]

company like Adamjee will give you rate of 2%. smaller companies usually give around 1.75-1.8% rate. but please be assured that your suminsured of 28lacs is very low now as per prevailing market value - the value in insurance should be nearly 38-40lacs or otherwise any insurance company you choose will apply 'underinsurance clause' at time of claim and the percentage difference will be borne by you.