Horrible From D*r*ct *sia insurance.

[Macrotrust]

I think it is best to avoid those "cheap or budget' insurance company as there is too much technical thing to catch people if claim come into play, as the above example if each time accident claim and interview people as to catch mistake or "honest mistake or so called Misrepresentation" as there is no ending. as the clause like main driver or named driver- both are equally driver, surely such probabilty of accident insured for younger driver must have already loaded on the premium- the question is apportion of liability & risk rather than null and void the whole policy totally.

 

Also for example, driving to work- what is work if for example housewife driving kid to & from school. is this consider "work" or part of leisure or work. very grey areas of dispute inusrance company can use either "form over substance or substance over form" which ever way suit the insurance company. sometime being technical can be harmful to the lay person as the prupose of insurance is to compensate insured person in the event of accident. So be wise of the insurance company that one chooses of course some prefer budget as to cost constraint and others prefer a piece of mind whichever choice is wise or not people decide, but dont complain here or there if insurance find "fault" with you..just my 2 cents

[Mustank]

I agree. I think it is the fronting issue that triggered everything.

[Jim]

First, I disagree with DA trying to split hairs that a 34 years old is a better driver than the 26 years old and hence the premium difference and hence non-disclosure of facts. Anywaym, this is their business model and we are not going to argue with them.

 

My own thumb rule is that when an insurer has a culture of being very technical with its customers, we should avoid it. Worse still if you buy the product on-line without an agent to explain thing with you. How do you expect layman like us to know what is to declare and what don't need ?

 

When we buy insurance, we are buying a peace of mind. If an insurer is going to be technical with you when it come to claim, I rather pay a little more and sleep better at night. DA may disagrees with me. It is fine, just like I respect your business model, I ask that you respect my view on motor insurance.

 

1) If the main driver is a 26 yo, DA will not even offer a quote. Whether this model correctly assesses the risk profile is immaterial. DA does not want business from someone under 30, P plate, has recent claims, traffic offences or drives a car that is not considered...tame. The undisputed fact is that Soufigo's sister did a switcheroo knowing they can get a lower premium.

 

2) Like what Darryn said, DA's website is not the least bit technical. You only need to have a reasonable command of English. I switched insurers every single year till I signed up with DA. In almost all cases, the fine print arrives AFTER I sign up and pay. Never have I got an insurance agent explain anything other than the bare essentials like excess. DA's website is the only one that explicitly states all the conditions BEFORE I pay. And it is not fine print. They are big explicit words in clear simple language and you need to click click to move on. Go see it yourself. Try to sign up as a person that meets their criteria or you will not make it to the end.

 

3) Despite all the complains, I have not found DA to be unreasonable, YET. Yes, I was a little irritated when they interrogated me if I am the main driver when I called them up for renewal. Yes, I am a little surprised that they can walk away from a claim, but at least in Soufigo's case, they have firm grounds. Aviva's case of voiding insurance for issues as trivial as sports rims is a bit more disgusting and I am glad I rejected my PI's offer of sports rims even though it's free.

[Soya]

1) If the main driver is a 26 yo, DA will not even offer a quote. Whether this model correctly assesses the risk profile is immaterial. DA does not want business from someone under 30, P plate, has recent claims, traffic offences or drives a car that is not considered...tame. The undisputed fact is that Soufigo's sister did a switcheroo knowing they can get a lower premium.

 

2) Like what Darryn said, DA's website is not the least bit technical. You only need to have a reasonable command of English. I switched insurers every single year till I signed up with DA. In almost all cases, the fine print arrives AFTER I sign up and pay. Never have I got an insurance agent explain anything other than the bare essentials like excess. DA's website is the only one that explicitly states all the conditions BEFORE I pay. And it is not fine print. They are big explicit words in clear simple language and you need to click click to move on. Go see it yourself. Try to sign up as a person that meets their criteria or you will not make it to the end.

 

3) Despite all the complains, I have not found DA to be unreasonable, YET. Yes, I was a little irritated when they interrogated me if I am the main driver when I called them up for renewal. Yes, I am a little surprised that they can walk away from a claim, but at least in Soufigo's case, they have firm grounds. Aviva's case of voiding insurance for issues as trivial as sports rims is a bit more disgusting and I am glad I rejected my PI's offer of sports rims even though it's free.

 

 

dun be so happy yet. let's see how if u ever need to make a claim.

[Ghostrider]

We can't compare with countries like US...cos they have a large base like M'sia...whereby premium for the car is based on how old the car is. A performance BMW E39 530i premium is less than RM1000 !!!

 

Here....even a 3rd party E34 525i (COEd car) premium for fire/flood and theft cost me 900+ back then !! Crazy....I was thinking 3rd party is only a few hundred bucks.

[Adawang]

ya, claim big amount, its okinsurance companies are not charitable organisationswhere they get the money from?

Why premiums go up sky high?

[Ghostrider]

Definitely, hantam Evo 9 lah. Evo 9 has a higher chance of getting into an accident compared to 335.

 

Its the same driver...

 

If he is a reckless/accident prone driver to begin with....give him what car also will have accidents.

[Jim]

dun be so happy yet. let's see how if u ever need to make a claim.

 

I did make a claim, but it was a no fault third party claim. I am not "happy" with my insurer. If everything is the same, I will certainly not go with DA, knowing they are so "ngeow". But the fact is, DA is A LOT cheaper for me. I pay a "Honda Premium" for almost every other insurer. DA is nearly a thousand dollars cheaper than some of the quotes I get. That's loose change for some people but not for me.

[Ghostrider]

Their concern is "fronting". Good example is

 

26 year-old buy WRX insurance quote $3.5k (but i think most insurance co wouldn't even consider insuring a 26-year-old driving wrx)

but his Lao Peh 55-years-old with 50% NCD and more driving exp, insurance quote $1.5k.

 

Obviously, Lao Peh is main driver and son is named driver cos cheaper insurance. The fact is son is the one driving most of the time, then that is what DA does not cover.

 

Using the above as example...then I would say insurance company also baiting lor...

 

So many under 30s driving REX is not under their name....and I am sure insurance also know...but dun bother to investigate...got money to earn why not...if anything happens...throw claim out of window lor...its a win win situation.

 

Motorist gets a good price on premium, insurance coy gets the "no risk" business (as they know they have a disclaimer clause to escape from jail)

[Asdfghjkl]

We ask ourselves, what is the difference between DA and your regular insurers ? DA don't pay commission. However, they have to advertise alot for public awareness bercause they have no agents to push their products. The saving is somewhat offset by the cost of advertisement. I reckon, at the end of the day, the actual saving should not be more than 10%.

 

Some post claimed that premium can be $1,000 lower which should be work out to be about 50% cheaper. In order to charge that much lower, either they know how to select only the very safe drivers who don't make claims or they don't pay very much claims.

 

As I say, I stick with my current insurers for over 8 years and they don't charge me the lowest premium despite being a loyal customer. Most important, i did made 3 claims during these period without any hassle. I have peace of mind.

Edited November 22, 2011 by Asdfghjkl

[Cephas]

Their concern is "fronting". Good example is

 

26 year-old buy WRX insurance quote $3.5k (but i think most insurance co wouldn't even consider insuring a 26-year-old driving wrx)

but his Lao Peh 55-years-old with 50% NCD and more driving exp, insurance quote $1.5k.

 

Obviously, Lao Peh is main driver and son is named driver cos cheaper insurance. The fact is son is the one driving most of the time, then that is what DA does not cover.

 

 

That is why the "time" definition is unclear, as questioned by speedgalantz or galantzspeed bro.

 

"Most of the time" can be either the frequency of car usage or the period of car usage. For example, one can use 100 times the car but clock only 50 hours whereas the other can use it 10 times & clock 100 hours.

Edited November 22, 2011 by Cephas

[inlinesix]

Its the same driver...

 

If he is a reckless/accident prone driver to begin with....give him what car also will have accidents.

In Singapore, the 1st thing insurance co looks at is the vehicle. As long as the group of vehicle is statistically higher chance of getting into an accident, it will attract higher premium. It is the same as telling u i don't 1 ur business.

 

In Malaysia, there are certain make & model is on decline list unless it is fitted with vehicle recovery system.

[inlinesix]

We can't compare with countries like US...cos they have a large base like M'sia...whereby premium for the car is based on how old the car is. A performance BMW E39 530i premium is less than RM1000 !!!

 

Here....even a 3rd party E34 525i (COEd car) premium for fire/flood and theft cost me 900+ back then !! Crazy....I was thinking 3rd party is only a few hundred bucks.

The reason Malaysia premium is cheap is because of tariff rate. That tariff rate has been there for more than 20 yrs & has not been updated yet. Lastly, car more than 10 yrs old is on decline list of a lot of insurers due to more prone to accident.

 

For cars more than 10 yrs old, buy 3rd party liability + additional policy, 3rd party liability wif big loading or buy from Motor Insurance Pool.

[Soya]

We ask ourselves, what is the difference between DA and your regular insurers ? DA don't pay commission. However, they have to advertise alot for public awareness bercause they have no agents to push their products. The saving is somewhat offset by the cost of advertisement. I reckon, at the end of the day, the actual saving should not be more than 10%.

 

Some post claimed that premium can be $1,000 lower which should be work out to be about 50% cheaper. In order to charge that much lower, either they know how to select only the very safe drivers who don't make claims or they don't pay very much claims.

 

As I say, I stick with my current insurers for over 8 years and they don't charge me the lowest premium despite being a loyal customer. Most important, i did made 3 claims during these period without any hassle. I have peace of mind.

 

Yep, and DA is not always the cheapest. I tried their online quote and it cost >$500-$600 more for a similar coverage I'm getting from Chartis. In any case, i would not even consider such 'online insurers' compared to proper, brick&mortar, established insurers who are here for the long and value their reputation.

[Ben5266]

You should take a look at my previous post - you have to go past this screen before you even get to the pricing information.

 

If you have to positively select this way - how can you be "unaware" of this "clause" - it is not even a clause - it's not like you have to read the fine print to understand and see it. You have to go through it very directly and positively before you can proceed.

 

And its not like it's a software license agreement with 17 pages of clauses that you have to read through - its all of like 30 words right there big big in the centre of the screen.

 

There's a whole lot of people here making all sorts of assumptions when they haven't even gone through the process of getting a quote from DA - they are just trying to whack the big bad insurance company - a company that on the whole is offering pretty clear and direct language.

I asked this question in June, perhaps many missed it.

Your reply to me then, is to pay $1500 excess only if accident happened outside of the declared usage.

 

http://www.mycarforum.com/index.php?showto...iva*&st=450

So DA changed they policy recently.....?

 

Good that posts in MCF is not editable.

 

[Ben5266]

When u buy travel insurance; does it matter if you're flying for work or leisure?

 

When u buy medical insurance; does it matter if u fall sick at work or at home?

 

When u buy home insurance, does it matter if you bring work home or juz lazing around?

 

So WTF shld car insurance make any difference whether you were driving to orchard rd for work or leisure?

Huge difference...

If cover to work, it will be 7 days per week.

If no cover to work, it will be 2 days per week.

Insurance company's exposure is down to 2/7.

But they gave us discount $100 or 10%, instead of 50%.

So in effect, it is more expensive to buy policy that covers only 2/7 week.

[Galantspeedz]

Huge difference...

If cover to work, it will be 7 days per week.

If no cover to work, it will be 2 days per week.

Insurance company's exposure is down to 2/7.

But they gave us discount $100 or 10%, instead of 50%.

So in effect, it is more expensive to buy policy that covers only 2/7 week.

 

disagree...

 

even if they dun drive to work.. they may still use the cars to go for dinner, fetch children, etc...

 

so essentially it is still 7/7

 

therefore, excluding going to work is actually nosense.... unless it is using for work like salesperson.. then there is a difference

[Jman888]

Huge difference...

If cover to work, it will be 7 days per week.

If no cover to work, it will be 2 days per week.

Insurance company's exposure is down to 2/7.

But they gave us discount $100 or 10%, instead of 50%.

So in effect, it is more expensive to buy policy that covers only 2/7 week.

 

 

so if you cover work and add 10%, isn't it the same, so why save the 10% and try to cheat?