IT IS TOO LATE AFTER THE EVENT

[Pap_sak]

I had a claim with Outsurance last year - not huge about 18 time monthly premiums. They where fantastic to deal with and had the money in my account 8 days after the incident.

[murdock]

it must be just me then...who seems to have bad luck...i must be part of the .1 percent...could it be that i have just chosen the wrong companies or could it be i am a crook or just said the wrong thing at the wrong time?


found this article rather interesting...it must be the case of a small minority of us who have issues with insurance comapnies.

http://www.whatisgoinon.com/podcast/2008/12/03/paying-the-price-getting-screwed-by-your-insurance-company/

went to hello peter to check out the complaints...to my suprise auto and general have more good comments...and found why i have been having insurance issues...checked out the company i am insured with and there are more complaints...time to change my insurer.

[Phil Cooper]

Hi Murdock

The worst thing you can do is insure with the Bondholder's insurance - the Banks' covers are invariably limited - and expensive.

Likewise, the "HP" linked motor insurers more often than not give hassles - they are "sausage machine" linked, and it can cause problems!

Nikolai's comments bear out what I feel - if you deal through someone who knows what they are doing for you - and DON'T just buy by the "bottom line" - you should not have any problems.

And - do the right thing, and do it right - and you will certainly not have problems!

[murdock]

i been thinking about this today because one of my vehicles is almost paid up...as i have mentioned i am not big on insurance so i need to put a little thought into whether i should just stop the insurance once the vehicle is paid up...considering i have had the vehicle for 4 + years and no claims...yet it goes up every year instead of going down (contacted the insurance and queried this...was told it is my job to notify them every year to re evaluate)...and 10 years prior to the hp vehicle have always insured myself...saved me thousands in insurance premiums...

one of the things which come to mind...trusting so called friends or family friends to take care of your insurance needs...be it life or short term...believing they are looking after your best interest...instead of actually going out and getting a second or even 3rd opinion for that matter...considering life and short term insurance is a considerable percentage of a households monthly expenses...more than our monthly food bill...it shouldnt be something you leave to chance.

[wynn]

it must be just me then...who seems to have bad luck...i must be part of the .1 percent.

You were a mad biker so you are part of the 1% already, I mean the naughty 1% as in 'Hells Angels'

[Phil Cooper]

Hi Murdock

You have a valid point. We automatically re-value all our clients' cars every year based on "book" value - and this more often than not results in a premium reduction.

As far as NO insurance is concerned - I would seriously recommend that you NEVR drive an uninsured vehicle - even if the insurance is for JUST the Third party damage you may cause. A R10,000 car can do a LOT of damage to a R500,000 Merc! Then, the problem comes up (and I have FREQUENTLY seen that) - you have an accident which is NOT your fault - but suddenly you get a letter of demand from the other Insurer holding you liable - either 100% or a portion due to Contributory Negligence. If you have to take them on at your own cost, it can HURT!

Balance of Third Party only is NOT expensive - but sure can save you a LOT of problems!

[murdock]

You were a mad biker so you are part of the 1% already, I mean the naughty 1% as in 'Hells Angels'

always paid for my bikes to be repaired at my cost...my excess for my R1 was R6000...i took a small tumble...quote to repair using insurance R21000.00...i had it repaired and added a few unique features for less than the excess...which back fired when the traffic police were looking for me...and having a unique helmet which i imported didnt help either...for driving a little faster than i was suppose to on the rare occassion

[Phil Cooper]

COMMENTS RE OMBUDSMAN

Think it is necessary to clarify the Ombud.

1. At the moment he may adjudicate on claims up to R800,000. However, it was mentioned last week at the annual Insurance Conference that there is a review, and the limit may be increased to R4,000,000 in respect of House Buildings cover, and R2,000,000 for contents.

2. If and Insurer presents you with an Agreement of Loss for your claim, and you sign it, the claim is finalised: you can not subsequently raise issues with the Ombud.

3. If you go to a Lawyer, you are precluded from approaching the Ombud - the idea is that the Ombud is there for speed and cost-saving, and you cannot do both. (The opposite is not the case - you can go to a Lawyer AFTER the Ombud ruling if you are unhappy with it).