Liberty Insurance

[mak]

hey guys, hope any one here can help me out

 

ive gotten a bike and after loading by age, i had to pay 1.4k plus for insurance by liberty insurance

 

on the day when i made payment to the bike, i had to fill in this form for insurance, name address claim experience etc

 

after everything was done n settled, a lady from liberty insurance called me saying that i had to pay 40% on the insurance for another loading cause i had a claim experience under my name for another bike

 

ok, here is the story, my brother own the other bike, and still riding now, im the owner, and he is the sub rider... as usual a taxi go knock him down at a PIE mergering lane, and file a claim, taxi driver apologised according to the report, since he was in shock n first time (my brother) he went to settle everything without telling me, until NTUC called me to inform me about the accident

 

nvm that was last year aug incident

 

liberty insurance said that i had to pay additional 40% on the 1.4k, due to the 'fact' that i had gotten into an accident

the problem here is that the accident was done on another bike, which my brother is still riding, then how could that just load my new bike insurance??

 

when i had asked them if i hadnt said that i had gotten into an accident, then they wouldnt had known, and i wouldnt had to pay additional 40%!!??

 

NTUC told me that, since the other bike is still being own n riden, so loading n no claim would effect THAT bike which was affected, and not anyother bikes i own

 

but liberty insurance that lady told me that for liberty insurance has their own policy

 

an example i had given was, if i had 10 bikes, and 1 bike got into a accident, lets say claim was $100, so does that mean that the rest of the 9 bikes got 40% loading?

 

SHE SAID YES!!

when i go through the insurance terms n conditions they didnt state anything, any question i had asked it seems that she only said it was company policy.

i only recieve the insurance certificate after 1 and the half mth of owning the bike, and this insurance company is not as big as NTUC here, so delaying for a mth n a half is really nonsense.

 

when i went through the reciept, it didnt state the loading for age, + the loading for 'accident', instead it just state the total insurance of $$2022... no details or whatso ever

a friend of mine, told me that the lady charge me like this cause every insurance sold is commission for them, inclduing loading etc

another told me to go CASE n complaim

 

any one here got any experience on this issue?

[kittosoft]

maybe cancel the insurance and get from another company?

[mak]

maybe cancel the insurance and get from another company?

 

if i were to cancel, i have to pay that 40% loading then later they'll give me back 62.5% of the remaining premium

[kittosoft]

go case. if i was u i will not get from them. principles

[unknown1]

I can explain this to you. For insurance, we all know that if you have a claim exp, be it that vehicle you are still using or not, 1st: your NCD if any will be gone. 2nd: You will have a loading be it regardless of vehicle or insurer.

 

For eg, your dad had a car and you drive it. you got into an accident, your dad's NCD will be gone regardless who cause it as insurer go by vehicle and insured name.

 

This is the same for your case.

 

As for policy not saying loading. Policies won't state any loading. They will only take your case and propose a certain premium to you. It's up to you to accept or not. If liberty is ex, you should have chg another insurer in the 1st place and not accept it.

 

Regarding sending you policy 1 1/2 mth ltr is acceptable as whichever case that had claim exp, it takes a longer time to underwrite due to complication.

 

There are so many insurer out there. And as far as I know, I had nv heard of any1 saying liberty premium is cheap. If you need more clarification, feel free to PM mi....

 

Hope my explanation helps

[redbeacon]

As for policy not saying loading. Policies won't state any loading. They will only take your case and propose a certain premium to you. It's up to you to accept or not. If liberty is ex, you should have chg another insurer in the 1st place and not accept it.

 

Policies won't state any loading. They will only take your case and propose a certain premium to you. It's up to you to accept or not.

 

This makes me ever the more uncomfortable.

 

They could have at least be a bit more transparent on their policies - like explain in the document that they have the right to take into account claims made in the past to charge additional premium (loading)

 

That the thread starter said it wasn't in the document, IMO I myself wouldn't take up insurance with them nor would want to have anything to do with them if that's the case.

[mak]

Policies won't state any loading. They will only take your case and propose a certain premium to you. It's up to you to accept or not.

 

This makes me ever the more uncomfortable.

 

They could have at least be a bit more transparent on their policies - like explain in the document that they have the right to take into account claims made in the past to charge additional premium (loading)

 

That the thread starter said it wasn't in the document, IMO I myself wouldn't take up insurance with them nor would want to have anything to do with them if that's the case.

 

see... thats exactly what im feeling, what ever decisions they made they'll not say anything other then 'its company's policy'

[shaunz]

see... thats exactly what im feeling, what ever decisions they made they'll not say anything other then 'its company's policy'

 

if no black and white in the policy you receive, you can try arguing

[Orleng]

ok, here is the story, my brother own the other bike, and still riding now, im the owner, and he is the sub rider... as usual a taxi go knock him down at a PIE mergering lane, and file a claim, taxi driver apologised according to the report, since he was in shock n first time (my brother) he went to settle everything without telling me, until NTUC called me to inform me about the accident

 

 

Hi, just curious, this accident, is the taxi claim against your bro or your bro claim against taxi? Wondering, cuz if it's your bro claim against taxi, you still kena loading?

[mak]

Hi, just curious, this accident, is the taxi claim against your bro or your bro claim against taxi? Wondering, cuz if it's your bro claim against taxi, you still kena loading?

 

taxi claim, n my brother did the claim also... see thats how F up the taxi driver is... he initially admited it was his mistake, and then later on denyed...initially he claimed 500 for those few days rental loss n income loss n now the claim from him is $3k n still raising

[chinhuahaw]

Upppp . Curious to know anyone using liberty ? Heard that they offer cheaper premium than ntuc

[lv3338]

liberty are usually for big bikes...u brought a harley ?

[chinhuahaw]

liberty are usually for big bikes...u brought a harley ?

 

looking at GSXR 600, donnoe consider big anot.

their review not so good for car though

[leong77]

Why would you want to complain when you do not read the proposal form?

 

Most (95%) of the insurers will ask you for accident history of 3 years. If you choose not to declare and sign the proposal form, you are in the wrong. It does not matter the accident belongs to the bike you are insuring. If i have 5 accidents for the past 3 years with different bikes. Would you want to insure me? Liberty is being nice enough to ask you to pay more premuum. Some companies would just cancel your insurance and bye bye to you.

 

Please please read before filling up your proposal form. And please make sure sure you know what you are signing.