Friday, June 06, 2008

Call hotline for the best quote

Hi Mr. Tan,
I read from your blog, you mentioned that X offers competitive rates for motor insurance. For many models of cars, the rates are up to 15% lower than our competitors.

How can this be, when I was quoted a higher rate compared to another insurance company? I was quoted $518 for my next renewal with X, 50% NCD + 5% loyalty discount. A good friend recently renew his motor insurance with another company and he was quoted $460 for his renewal on the same terms.

I emailed and called X for clariffication. No one could give me a satisfactory answer. When I asked a customer officer if X could give me a better requote, she said NO and its not negotiable.

How wonderful. Seems like i have no incentive or reason to stick to X anymore, as X is now charging more than others. That's all I have to say for now. Thank you for reading this email.
AT

REPLY
In past years, X offered competitive quotes. I understand that the increased their premium rates by about 20% (or more) this year. They are no longer the most competitive.

I now advise consumers to call the hotlines of insurance companies to get the best quote. Read this FAQ:
http://www.tankinlian.com/faq/motord.html
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1 comment:

Thomas Phua's Blog said...

In the past, there were insurers that offer low premium and unable to sustain the business and as a result the insurer closed.

Cosmic and Pacific Insurance, I think are two companies that fold up.

In case of such situation happening, what happen to the insured and pending claim?

June 06, 2008 9:29 PM

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