Insurance Limbo

[Ironstarz]

Dear all, i would like to seek some feedback on my current situation.

 

2008 Jan, i renewed my previous car insurance with a old friend who is an agent ( hi - bye type friend ) He gave me a special discount of abt 100+ dollars off my premium , after i asked is there any good price since i 've been with him since 2006.

 

In June 08 i changed car , and the insurance company refunded me the excess of the premium as i used 6mths of the insurance.

 

In Aug 08 , my friend started calling me and asking me to pay him back 100 dollar as they cut back his commission due to i change car and terminate the policy .

 

Do i have the right not to pay him the $ Because honestly i feel there i have the right not to pay back as i did not demand the $ and on start he did not inform me on this issue.

 

Pls share your honest view on this case

[Hamburger]

as a gesture of good will, shld pay him back. somemore is a friends of urs. insurance commission is not much kangtow one

[Damienic]

I might give him back on goodwill basis if it was me...but if you feel it was within your 'rights' not to return him the money, its also not wrong in a way..just decide based on wat you feel you'll be most comfortable with...

[Kusje]

He gave you a discount from his own commission. Now his commission is cut so your discount should be cut too.

 

He was nice enough to give you a discount(from his own pocket) because you were a friend so you should be nice enough to give it back.

[Leepee]

Anyone tried this stunt on AD who gave discount on new car for taking their in-house insurance?

[Thestig]

Kinda logical to pay back isn't it?

 

How would you like it if the insurance company decided not to refund back the balance of the insurance premiums to you and claim that they were not informed that you were going to change vehicles?

 

Be it a few hundred or a few dollars, its the matter of the principle.

[Tigershark1976]

juz pay him loh, not too much money anyway..

[Silver_blade]

I agree with the rest that you should just pay pay to return him a favour (he gave you a $100 discount), but you have the rights not to do so.

[Speddevil]

Commission for Motor Insurance is normally 15%. So once you changed vehicle and cancelled the policy,commission will be clawed back from agent. In principle it is morally right for you to give it back to your frd since he earned less comm. Out of goodwill. In the real business world, it is not possible to ask customer for refund..

[Ironstarz]

I am willing to pay its a small sum, i just want to know what are the rights that i have. I already handed over all my policy and my investment portfolio to another agent as i cannot stand the way he is chasing me for this miserable amt .

[Eyke]

depends how you want to treat him, as just an insurance agent or as a friend.

 

if you don't mind from hi/bye-type friend to no friend or even enemy then you can don't give $ back as you are not legally obliged to do so.

 

but that won't be very nice of you to do as he was good enough to give you discount in the first place.

[Ironstarz]

i understand what u're saying , but i din point a gun to ask him to pay out of his pocket, i compared the policies between diff company and of cause since his his higher but i like the company, so i asked how to match and thats what he offered out of his own will.

 

my new car insurance was also done with him to let him earn, i have 2 investment portfolio with him , earn not enuff??? this small sum wanna chase me like a ah long ?

[Speddevil]

Since he is willing to give you a discount on account of frdship, shd not ask back in return. same analogy when you give somebody a gift to your frd or gerfrd, once relationship sour, will you demand to the other party to return you those gifts? Quite subjective Bro. Its up to you.

 

Juz give him back in this case to save those 'haggling'

[Eyke]

ahh, since you also gave him the business for your new car, then i don't see any grounds for him to claw back the discount for the previous terminated one.

Edited September 5, 2008 by Eyke

[Ironstarz]

i alr received a lashing in sms by him , still simi friend

[Ironstarz]

your answer is the most ideal as of now, i save some he save some , i like this

[Eyke]

from what you say, i don't think you should give him anything back now,

but just to end this, maybe give him $30 can liao.

 

tell him want take, dun want done.

[Ahwhye]

The $100+ discount is in the premium? or is it as commission returned to you?

 

Different hor......