Which Insurance Company : Urgent Help Please

[waleed80]

hi there...aoa..well i got a new car Honda City 2012 Model last year for 14,17,500....i got it insured by the New Hampshire Guys (AIG) and i paid 42,526 rupees for one year. my insurance is now expiring on 3rd of June. i gave the guys a call with regards to the renewal of the insurance policy and they said that this year i will be paying 39,215 (after deduction of No Claim Bonus only as i didnt claim any repairs in one year) . i asked them what about the 10 % yearly depreciation, the said that the car value hasnt been depreciated i.e. if u go to market, u wont find the 2012 City in less than 14,17,500 at any cost.

now my question is, that isnt it wrong...i mean, there are other companies which would insure the car in much less amount , for example, if i push the askari insurance guy, they might even get the car insured @ 1.5% or max 1.8 %....so please recommend, shall i pay the amount they are asking (39,215) or shall i look for other alternatives (might cost me 22-25k)....this AIG guy was telling me that incase of any claim, the others delay things and create lots of problems and all whereas this company would do it in a jiffy, which i personally think is a marketting gimmick

please advise at ur earliest as i only have 3 days to go till my insurance expires. also suggest the most suitable insurance company which u guys have come across and u recommend alongwith the rates i shall be expecting from them

regards

[waleed80]

my dear and respected brothers....help please

@ahmadbila @huzaifaa @Skt_Z4 @Sk_KingpiN

[sk_020]

Brother no first hand experience with Insurance people as we never insured any of our car.
I think you should stick to these AIG guys if they are saying they wont delay claims etc.
Btw I dont rely on Askari guys. They handle almost all armed forces. They might get late in claim process etc. Its just my personal opinion bro. Lets wait for others..

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[waleed80]

Brother no first hand experience with Insurance people as we never insured any of our car.
I think you should stick to these AIG guys if they are saying they wont delay claims etc.
Btw I dont rely on Askari guys. They handle almost all armed forces. They might get late in claim process etc. Its just my personal opinion bro. Lets wait for others..

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thanks for the reply bro...whats wrong if they deal with armed forces bro ? can that be a problem for me ?

[sk_020]

thanks for the reply bro...whats wrong if they deal with armed forces bro ? can that be a problem for me ?

Mention not bro.
No no Bro nothing's wrong in it. They have to deal more people than other companies. I heard from somewhere that all CSD cars are insured from Askari(not sure). I hope there should be no problem for you.

[ahmadbila]

i dont know about rates but i ll tell u, AIG guys are the among the BEST ones! claim processing is fast and no nakhray bazi when bad luck strikes u (God forbid) i ve used their services quite a few times and never ever had any issue. i would say if the difference is immaterial to u, dont bother going else where...

[ahmadbila]

a friend of mine had his alto insured by a local (well known) insurance company. car hit back of a truck, totally destroyed upto dashboard. i told him to let it go but he said insurance guys will pay n then he ll buy a new car and keep it as small duty car. anyways, insurance guys said u get the repairs done urself, we ll pay u the amount back after 6 months! the guy said why wud i get insurance if i have to fetch out 1 lakh rs myself to get it repaired initially, and once i DO arrange the amount. it wont be much help to get it back 6 months later but the company didnt change their stance and he ended up getting repairs done himself...

[waleed80]

thats the issue....difference IS material 22k and 39k...thats a lot of money

[waleed80]

Mention not bro.
No no Bro nothing's wrong in it. They have to deal more people than other companies. I heard from somewhere that all CSD cars are insured from Askari(not sure). I hope there should be no problem for you.

thats correct. all the CSD cars actually ARE insured by Askari insurance

[waleed80]

a friend of mine had his alto insured by a local (well known) insurance company. car hit back of a truck, totally destroyed upto dashboard. i told him to let it go but he said insurance guys will pay n then he ll buy a new car and keep it as small duty car. anyways, insurance guys said u get the repairs done urself, we ll pay u the amount back after 6 months! the guy said why wud i get insurance if i have to fetch out 1 lakh rs myself to get it repaired initially, and once i DO arrange the amount. it wont be much help to get it back 6 months later but the company didnt change their stance and he ended up getting repairs done himself...

thats pathetic....hhhmm....the problem is that i dont have an experience with AIG till now (thanks to Allah) but on the other hand i was still interested in seeing someone who has actually dealt with them. my platz was insured by Askari guys and its paint got screwed by the hailstorm, so i told them to get the car painted. they did it and without any hassle. i have heard the real problem with the so called BAD insurance companies emerges when ur car gets stolen. for repair purposes, all are as good or as bad....lets see what verdict i get at the end of the day. thanks for the advice still

[ahmadbila]

thats pathetic....hhhmm....the problem is that i dont have an experience with AIG till now (thanks to Allah) but on the other hand i was still interested in seeing someone who has actually dealt with them. my platz was insured by Askari guys and its paint got screwed by the hailstorm, so i told them to get the car painted. they did it and without any hassle. i have heard the real problem with the so called BAD insurance companies emerges when ur car gets stolen. for repair purposes, all are as good or as bad....lets see what verdict i get at the end of the day. thanks for the advice still

Well then askari should be fine for u, if they offer better rates. but stay away from a company that has the letters F___ U in its name i mean they are openly communicating their strategy, arent they?

[waleed80]

Well then askari should be fine for u, if they offer better rates. but stay away from a company that has the letters F___ U in its name i mean they are openly communicating their strategy, arent they?

buahahahaha....it means Elephant size F_ U

[rashid81]

Stick with your old insurance company. As far as your question of deprecation is concerned, you car will be insured on your current market worth which in case of city is not below 1,400,000 in any case.</SPAN>

[waleed80]

thanks all. finally got it insured again by AIG. paid 39,250 for this year. also contacted Askari Insurance before this and they were not getting down less than 35000, so stuck with the old insurance.

thanks for the suggestions and guidance
@mods please close the thread