Not Invited To Renew Insurance

[st8six]

fyiGot a letter from Kurnia today with the subject header - Renewal Not Invited Notice (For Third Party Motor Insurance Only). It basically informs me that they are not willing to continue insuring my 1984 E28 528i under the Third Party Motor Insurance Policy. It goes on to say they will gladly insure me under Comprehensive Motor Policy BUT only if my vehicle is below 20 years old..!My first impression was I was singled out and they refused my business, then again I have not even claimed anything from them all these long years with them.. so maybe this a blanket thing.I am disturbed.Does this spell the end for us lovers of old classics? Will other insurance company follow suit? Sigh... Gotta go shop around now for insurance for my old faithful E28.I spent too much on this car already and was actually thinking of upgrading my policy and buying comprehensive the next round until the bombshell letter...Anybody knows any insurance company that wants my business...?regards,

 

[syahruln]

Try MAA or Takaful Ikhlas.

 

[initialM]

Try to ctc Mr VP (RedBaron). He's driving an E28 oso:top:

 

[infinityKL]

aiya, i was not invited by Maybank for a car loan... how fcuked is tat...

first call i made,

for wat car sir?

i said alfa romeo...

wirhout even asking any further the reply was sorry we dont do this brand, unpopular brand....

 

[phoneix]

St8six,

Wah 3rd party also dont want to renew ka...anyway there's good news for you,
All Make Classic (AMC) is in collaboration with Multi Purpose Insurance Bhd is now offering Comprehensive Classic Car Coverage.

You may contact AMC Malaysia for more details at 03 2142 1066

Best Regards

 

[phoneix]

Sachseelan,

It's quite normal for certain banks especially (Maybank) to reject financing on unpopular models, as the depreciation rate for these vehicles are tremendously fast.
Banks are finding it hard to disposed unpopular repossessed vehicles, and often unable to recover $$ so the they classify these vehicles as High Risk Vehicles and reject your financing.

Try Hong Leong or Public bank they are more flexible on this.

If all fails, got lots of chettiars in the Club..

 

[ICEMAN 68]

aiya, i was not invited by Maybank for a car loan... how fcuked is tat...

first call i made,

for wat car sir?

i said alfa romeo...

wirhout even asking any further the reply was sorry we dont do this brand, unpopular brand....

maybank ...darm lansi one ,.....maybe no money ledy ...

why not trying maybank INDO ...

 

[ICEMAN 68]

AIG still rocks !!!!!!

 

[Daredevil]

Try checking out here https://www.kurnia.com/malaysia/Agentinfo/Website/Home.do?AgentCode=G82100-00

You can contact Wong and find out the real reason behind this....

Hope this helps...

 

[arowana33]

Go post office counter, the can give you good recommendation on which insurance company that still can accept older cars to renew for 3rd party insurance.

 

[zzzaaron]

Kurnia really palia!!!!!!!!!!!!!!!!

 

[nahanella]

high claim ratio

high claim ratio..tht the only reason kurnia now decline 3rd party... most foreign insrance company dont take 3rd party at all...they very smart ..only take good risk and profitable..... so PIAM or bank negara must push all insurance co to take 3rd party by create quota system..... anyway if u wish to continue to renew under 3rd party pls do contact me at 013 354 0000 ... im an agent and able to renew for u under takaful malaysia....

fyi

Got a letter from Kurnia today with the subject header - Renewal Not Invited Notice (For Third Party Motor Insurance Only).

It basically informs me that they are not willing to continue insuring my 1984 E28 528i under the Third Party Motor Insurance Policy. It goes on to say they will gladly insure me under Comprehensive Motor Policy BUT only if my vehicle is below 20 years old..!

My first impression was I was singled out and they refused my business, then again I have not even claimed anything from them all these long years with them.. so maybe this a blanket thing.

I am disturbed.

Does this spell the end for us lovers of old classics?
Will other insurance company follow suit?

Sigh... Gotta go shop around now for insurance for my old faithful E28.
I spent too much on this car already and was actually thinking of upgrading my policy and buying comprehensive the next round until the bombshell letter...

Anybody knows any insurance company that wants my business...?

regards,

 

[st8six]

got it renewed today..
thanks to bro nahanella..

appreciate it very much, thank you for your good service...!

high claim ratio..tht the only reason kurnia now decline 3rd party... most foreign insrance company dont take 3rd party at all...they very smart ..only take good risk and profitable..... so PIAM or bank negara must push all insurance co to take 3rd party by create quota system..... anyway if u wish to continue to renew under 3rd party pls do contact me at 013 354 0000 ... im an agent and able to renew for u under takaful malaysia....

 

[jimix]

just to share...
i was lucky to renew my roadtax 3rd party last March using Allianz. Now after 1 May,the agent where i usually go to said he & other insurance co. does not issue 3rd party anymore bcos of high claim ratio just like nahanella mentioned.
however, only unioasia & multipurpose still provide 3rd party but only to cars that is not more than 20 or 21years old.

if exceeds, then have to go to puspakom for inspection then can only renew with unioasia or multipurpose under pool category. this has to be done every year to renew roadtax. my e30 is year 1984 & have to go thru it staring from next year... was planning to upgrade engine, but not glad bcos takut kantoi puspakom... have to find runner to do it lah, no time....

 

[Wlvrn]

yesterday my friend went to renew his 1988 CRX insurance, however the insurance agent told him no insurance company will insured any car which has exceed more than 20years onthe road.No matter comprehensive or 3rd party....is this true? any insurance agent here can verify?

 

[nahanella]

insurance

hi ,,,, if anyone want to renew insurance pls contact me at 013 354 0000 - nahan....
i do comprehensive and 3rd party .... for 3rd party vehicle age up to 50 years and for comprehensive up 25 years ..... tq

 

[initialM]

hi ,,,, if anyone want to renew insurance pls contact me at 013 354 0000 - nahan....
i do comprehensive and 3rd party .... for 3rd party vehicle age up to 50 years and for comprehensive up 25 years ..... tq

Under which co bro?

 

[nahanella]

age of vehicle

depend on age of ur vehicle / coverage and others.....
im an agent for Uni.Asia / Berjaya Sampo / Takaful Malaysia / Kurnia.................... but for comprehensive policy i will advise Uni.Asia :top:bcoz the claim very fast ..... im in this industy for 10 years and im doing full time and my office located in shah alam sect 25.....juz call or sms me ... :listen:

 

[jeffreyewe]

depend on age of ur vehicle / coverage and others.....
im an agent for Uni.Asia / Berjaya Sampo / Takaful Malaysia / Kurnia.................... but for comprehensive policy i will advise Uni.Asia :top:bcoz the claim very fast ..... im in this industy for 10 years and im doing full time and my office located in shah alam sect 25.....juz call or sms me ... :listen:

:top::top: for nahanela,

Thanks for rectifying the 1963 190E.