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fully comprehensive insurance hike!

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susiesusie


Joined: 09/03/2009
Posts: 337

Message Posted:
12/02/2010 16:14

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Message 1 of 12 in Discussion

Just been to renew my policy on the 8yr old car only to find the insurance has a minimum charge of 500ytl regardless. Bearing in mind the car gets older every year and premiums in the past have either stayed the same or reduced.

The answer given was that ALL the insurance companies have rallied together to set this new price.

PRICE FIXING surely is , if not illegal here in the north then at the very least improper.

Yes, of course you could get 3rd party for 250ytl but already been there with people not being insured and they ran into us on the wrong side of the road .Was without a car for 13wks.

would have expected this type of fixing to encourage more people not to have adequate insurance.

So beware when your premium is due!.Oh yes. forgot to say they also said it is now law to have a mimimum of 350ytl excess. This info came from can sigorta insurance in town with whom we have been with for 6 yrs.



StGeorgeI


Joined: 27/08/2009
Posts: 973

Message Posted:
12/02/2010 16:31

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Message 2 of 12 in Discussion

Just renewed ours with Gunes Sigorta and it was pretty much the same as last year!



G



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
12/02/2010 17:10

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Message 3 of 12 in Discussion

Fully Comprehensive - i don't think so....





third party property damage limit is 50,000 TL on a typical TRNC motor insurance policy - bet your insurer didn't tell you that........



What if you hit a 100,000 BMB X6 or worse still two similar value cars ??



You'll be claiming off your policy and handing the keys over to your villa for the shortfall.....





Or as my old Uncle Percy would say "fully comprehensive - my ar%e"........



SarahJB



Joined: 25/05/2009
Posts: 114

Message Posted:
12/02/2010 19:03

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Message 4 of 12 in Discussion

Guys these companies are ripping you off.

If you would like a fee quote for any insurance please contact me

sarahbarens9@gmail.com

I will give you the best price and great customer care



Some Turkish companies are under investiagtion because of this.



greenman


Joined: 16/02/2008
Posts: 526

Message Posted:
12/02/2010 19:09

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Message 5 of 12 in Discussion

Message 4

Should that be sarahbarnes9@gmail.com



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
13/02/2010 06:11

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Message 6 of 12 in Discussion

mess 4 - Sarah - so the company you represents has a third part indemnity of 50,000 TL too ??



Have you told each and every customer of the shortfalls of the contract that you are selling ??



i thought not....



so, how will you look your customer in the face when they have a serious crash, costing tens of thousands of pounds and there is not enough cover under the policy you have sold them, and they face financial ruin ??





Doesn't sound like "great customer" service to me....



SarahJB



Joined: 25/05/2009
Posts: 114

Message Posted:
13/02/2010 12:12

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Message 7 of 12 in Discussion

Yes Greenman it is

sarahbarnes9@gmail.com thank you for that



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
13/02/2010 18:25

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Message 8 of 12 in Discussion

no reply to mess 6, Sarah ??



SarahJB



Joined: 25/05/2009
Posts: 114

Message Posted:
13/02/2010 20:31

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Message 9 of 12 in Discussion

Hi

Negativenick

Yes I DO tell my customers of the indemnity and I also go through every detail of the policy with them before they sign and would not have it any other way



Life is all about what "if's" my friend but as you are saying:



"What if you hit a 100,000 BMB X6 or worse still two similar value cars ??



Well the chances of this happening is a million to one



TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
13/02/2010 21:00

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Message 10 of 12 in Discussion

Sarah said, "Well the chances of this happening is a million to one".

Well I, for one, don't like those odds.

If I'm paying for insurance, as I'm required to do, I expect that a policy that I want to be available. If you and your company really want to stand out from the crowd then offer policies that mean the we can be sure will cover ALL costs in the event of an accident.

50,000 TL is NOT a lot of money. It equates to a little over 21,000. As the import tax on vehicles to the TRNC is so high many new vehicles will cost more than that. A singing, all dancing Ford Mondeo will cost more to replace than the 50,000TL you and the other companies allow. Also trying taking out some of the Casino cars....they cost a lot more than your 50,000TL.

There is no competition in the TRNC insurance market. It's a cartel and no one seems to want to break this cartel up. Maybe the industry is paying some of our money to those in power to ensure that no waves ever appear and they can make millions!



JohhnyLee


Joined: 25/04/2009
Posts: 2495

Message Posted:
13/02/2010 21:26

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Message 11 of 12 in Discussion

Like I always say, NN top guy in insurance, Love him or hate him, as I posted on another subject earlier today.



He talks sense. And I totally disagree, I think you will find the chances a lot less than a million to 1



NN was my insuarance broker for around 20 years, And he was 100 % straight. He would tell you the facts as they are.



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
14/02/2010 18:15

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Message 12 of 12 in Discussion

mess 9 - i know you aren't telling people of the hopless indemnity limit - because no one in their right mind would accept it !



And i'd bet a pound to a pinch of snuff that you ain't got a work permit and are working illegally - hows tat going to look when a big claim occurs ?? .



And you comment that "what are the chances of that happening....", show that you are another inexperienced agent flogging insurance to an unsuspecting public,....



As my Uncle Percy used to say "one day, it'll come back and bite you on the arse"....





I have visited dozens of insurance agencies in the TRNC and virtually none of them had a clue as to what they are selling, the most important thing was getting the poor punter to part with his dosh, rather than ensuring that they are adequately covered........



mess 11 - 33 years actually, man and boy....



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