Dear Members, Now a days there is flood of advertisements by Automobile companies offering free insurance. Even there is an advertisement which offers free insurance for 3 years.
1. One of the condition for any product to be covered for insurance is payment of premium. Hence there is no term like free insurance.
2. I have every reason to believe that the prices are build up with insurance premium and offered to buyer as free insurance.
3. The companies are offering such insurance through private insurer.
4. If the prices are build up with insurance premium and offered you as free insurance, the buyer does not have any choice to subscribe the insurance policy with the company of buyer's choice..
5. Now when the buyer is being offered free insurance, most of the buyer are to forego the no claim bonus arising out of their previous policies. This would make buyer at a loss in the long run say after 2-3 years.
The advertisement is misleading as the customer is being misled by offering something free which is not a fact. Those buyers who are selling their old vehicles and intend to buy new vehicle should as dealers to offer discount equivalent to that of insurance premium. The buyers in such cases, subscribe the policy for new vehicle with No claim Bonus.
More we can discuss in the forum on any query. Regards more
1. One of the condition for any product to be covered for insurance is payment of premium. Hence there is no term like free insurance.
2. I have every reason to believe that the prices are build up with insurance premium and offered to buyer as free insurance.
3. The companies are offering such insurance through private insurer.
4. If the prices are build up with insurance premium and offered you as free insurance, the buyer does not have any choice to subscribe the insurance policy with the company of buyer's choice..
5. Now when the buyer is being offered free insurance, most of the buyer are to forego the no claim bonus arising out of their previous policies. This would make buyer at a loss in the long run say after 2-3 years.
The advertisement is misleading as the customer is being misled by offering something free which is not a fact. Those buyers who are selling their old vehicles and intend to buy new vehicle should as dealers to offer discount equivalent to that of insurance premium. The buyers in such cases, subscribe the policy for new vehicle with No claim Bonus.
More we can discuss in the forum on any query. Regards more
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THIS IS THE SPIRIT NEEDED FROM THIS CIRCLE. HELP OTHERS WITHOUT EVEN ASKING. VIRMANI JE- YOU HAVE BEEN SHARING AND ALERTING US BY YOUR KNOWLEDGE AND EXPERIENCE. THANKS A TON. more
Dec 03
