Value Of Truck Down But Insurance Up!

[thequietman]

can you explain this.

took a policy recommended by Ford last year with the usual bs assurances that if we took it with them, they would discount it by 30 per cent next year.

anyway new quote in and its 500 baht more this year and 50,000 baht less coverage.

the quote shows the new price with 30 percent off and its still more expensive.

no accidents or claims.

any idea why they would do this ? also anyone know of a reputable company who wont play these games. i have yet to meet any thai company who stick by their promise.

[bazmlb]

The price for the following year can be due to many reasons

- excessive claims by owners of same model/age of vehicle in previous year

- Price and availability of parts as the vehicle gets older

- the floods probably have some effect on this years premiums as well

You will find that all will be about the same price as they are underwritten by the same companies at the top level, the only thing that varies is the cover you receive, pay less - get less.

[msg362]

WE bought a Maza 3 2.0 litre a few years ago. After one year Viriya put the price up ( No claims that year) saying that because it was one year old it was more?? dangerous??

TIT! We went elsewhere

[bob4you]

TIT, my guess is the agent wanted a bigger commission this year and insurance company complied by raising your rates.

[tonydabbs]

TIT, my guess is the agent wanted a bigger commission this year and insurance company complied by raising your rates.

My guess is that he didn't get the insurance through an independant agent/broker or he wouldn't have needed to start this thread. He should have gotten help from the agent in dealing with the insurer. Or, the agent/broker should have gone shopping for quotes for him from other insurance companies and then placed him with that insurer. If this was an independent agent, then he should be seeking advice on finding a better agent. Yes, TiT. But, I really don't believe that the "agent" and the insurance company were colluding together to raise to raise his premium. There is not enough profit and neither would stay in business very long.