Help!!! I can't get insurance for my E30
- Thread starter tamade7
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jeffreyewe
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try takaful or kurnia.
berserkdroid
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AXA also can.
They will take your car.....you may have to buy rm10k worth of insurance for a 4k car, and on top of that they will charge you 50% loading, and all drivers option (not and option anymore). The you have to also top up with personal insurance policy. once paid you can renew your road tax. Stupid government or insurance companies? you tell me.
evilnickwong
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Don't forget the wonderful betterment policy as well. 
lol.
lol.
datsunnismo
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is there anyway we all joint hands and show our againts to goverment/insurance companies????
cloudbuster
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Same thing here. I have a few old cars which are most likely worth less than RM10k each, but having to pay around RM500 to RM600 plus each just for 3rd party insurance is ridiculous. And then there's the loading. It's incredible how the insurance companies claim that old cars are more risky hence the higher premiums and loading.
tongsatriani
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sorry to hear such predicament. yeah, i agree it's not really fair but insurance company is running a business too. it's all down to the car value & spare parts sourcing factor. as we know the older the car the harder/lesser parts available thus the appreciation of parts prices.
on the "the older-the riskier" statement, it goes down to wear & tear factors. no doubt most of us will keep our ride to the most tip-top condition but we have to acknowledge older cars will have older parts hence reducing the safety and reliability.
these are just some factors from some insurance companies. of course different company have different rules.
just to share. cheers!
on the "the older-the riskier" statement, it goes down to wear & tear factors. no doubt most of us will keep our ride to the most tip-top condition but we have to acknowledge older cars will have older parts hence reducing the safety and reliability.
these are just some factors from some insurance companies. of course different company have different rules.
just to share. cheers!
tongsatriani;564380 said:
Sorry to say i do not believe so.
1st. My car is already 18 years old, two years ago I have no problem buying 3rd party policies for RM100 bux only. Why the sudden changes in one year time? (was already having the problem last year) What is the difference in risk between a 16 year old and 18 year old car??? 500%???
2nd. I have NEVER made any single claim on any of my cars in my 15 years of car ownership . Why suddenly my car become so risky that I have to buy comprehensive polices, add loadings, all drivers and personal accident insurance (which I am already covered by my company) There is no justification at all.
If given the option (meaning you can renew your road tax w/o insurance but in case of accidents you have to bear all liabilities), I would rather take the risk myself instead of handing over RM500 bux for the insurance company to handle my "risks" for me. Screw them for their own inefficiencies.
jeffreyewe
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Its bulls#it, insurance companies are just sucking out our hard earned money for their own gain. For example, reason given by them is hard to get parts for old bmw's....yeah right! I've mentioned this before to one of the then top level management of kurnia, informing them that BMW AG has setup a special division called Mobile Tradition which manufactures New parts for old bmw's therefore there should not have any types of loadings for our premiums.
Once a claim is made, insurance companies only reimburse us for used parts but we changed them new....knnbccb.
Once a claim is made, insurance companies only reimburse us for used parts but we changed them new....knnbccb.
tongsatriani
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like i had said, different company different rules. of course there will be some willing to insure. these are just many many factors rendering a case to be accepted or not.
now, there is not much difference on 16 and 18 year old but it makes a difference to that particular insurance company and this render to a sudden change in premium and policies. why? simple...
insurance is always a pool business. they take in as much premium possible to make do the minor unfortunate reimbursements.
what happens if that particular company experiencing a sudden high ratio of claims within the same make of year car category? or rather the whole claims experience itself?
this will ensue to a premium increase and change of terms and conditions. this is just a mere factor and there are many more other factors that can make into play.
same goes to most of our life and medical insurance. the premiums are subject to change from time to time based on any mortality or health related issues that arises.
bigger companies will be willing to accept riskier cases due to their high volume of premium collected. you can try them.
my previous 15 year old ride was insured with no issues; of course after a high and low search.
now, there is not much difference on 16 and 18 year old but it makes a difference to that particular insurance company and this render to a sudden change in premium and policies. why? simple...
insurance is always a pool business. they take in as much premium possible to make do the minor unfortunate reimbursements.
what happens if that particular company experiencing a sudden high ratio of claims within the same make of year car category? or rather the whole claims experience itself?
this will ensue to a premium increase and change of terms and conditions. this is just a mere factor and there are many more other factors that can make into play.
same goes to most of our life and medical insurance. the premiums are subject to change from time to time based on any mortality or health related issues that arises.
bigger companies will be willing to accept riskier cases due to their high volume of premium collected. you can try them.
my previous 15 year old ride was insured with no issues; of course after a high and low search.
cloudbuster
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Personally, I think the insurance conglomerates should set a pool of discounted premiums for specific customers who have never ever claimed any damages at all for any of their cars, via different categories like 10 years of business patronage, 15 years, 20 years, ..etc.
At the end of the day, how many of us would have claimed any insurance at all in our lifetime? If there is fair justice where insurance is not needed to renew road tax, I would rather save the insurance money and pool together the premiums annually for my own self-reliant emergency insurance fund via bank savings to pay in cash for any expenses/damages to be incurred in the even of accident to myself, my car, the 3rd party, or the 3rd party's car, or any other parties involved.
The truth is that most of us buy insurance just because we have to as required by law in order to get our road tax stickers, not because we need the RM10k "insurance" for our old rides anyway. That's a fact.
At the end of the day, how many of us would have claimed any insurance at all in our lifetime? If there is fair justice where insurance is not needed to renew road tax, I would rather save the insurance money and pool together the premiums annually for my own self-reliant emergency insurance fund via bank savings to pay in cash for any expenses/damages to be incurred in the even of accident to myself, my car, the 3rd party, or the 3rd party's car, or any other parties involved.
The truth is that most of us buy insurance just because we have to as required by law in order to get our road tax stickers, not because we need the RM10k "insurance" for our old rides anyway. That's a fact.
SimpleSoul
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My road tax expired in June 10 and I walked in to a few companies to get insurance. Kurnia and Etiqa rejected me when they found out the car was above 15 yrs old and as well as MCIS Zurich which my car had been insured with them from the time of the 1st owner and myself. However they rejected me with their new ruling.
Anyways.. i spoke to a few insurance champions and they adviced me to insure the car under MMIP ( Malaysian Motor Insurance Pool). One of their agents are Uni Asia Berhad in Jln Sultan Ismail KL. However you need a Puspakom cert. to say that your car is road worthy. Taking the car to puspakom will definitely be a NO NO for me as my car number plate and tail pipe is cool to me but not to JPJ or Puspakom.
So I found out that UniAsia accepts Insurance Adjusters report in order for them to insure the car. Brought my car to the adjusters and paid RM60 ( RM80 if you need them to go over to your place: Klang Valley only) for the report and went to UniAsia to renew the insurance. Well the sad part is the que is super long and it would be advisable to get a runner rather then killing 3-4 hrs of yr time.
Another advice is to get a letter from your previous insurance company on the NCD or NCB(old term) that you qualify before heading to MMIP/UniAsia. Comprehensive and 3rd party is available.
Cheers,
Anyways.. i spoke to a few insurance champions and they adviced me to insure the car under MMIP ( Malaysian Motor Insurance Pool). One of their agents are Uni Asia Berhad in Jln Sultan Ismail KL. However you need a Puspakom cert. to say that your car is road worthy. Taking the car to puspakom will definitely be a NO NO for me as my car number plate and tail pipe is cool to me but not to JPJ or Puspakom.
So I found out that UniAsia accepts Insurance Adjusters report in order for them to insure the car. Brought my car to the adjusters and paid RM60 ( RM80 if you need them to go over to your place: Klang Valley only) for the report and went to UniAsia to renew the insurance. Well the sad part is the que is super long and it would be advisable to get a runner rather then killing 3-4 hrs of yr time.
Another advice is to get a letter from your previous insurance company on the NCD or NCB(old term) that you qualify before heading to MMIP/UniAsia. Comprehensive and 3rd party is available.
Cheers,
