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692 Posts
Discussion Starter · #1 · (Edited)
Here is my experience with Inshur. I have documentation of everything if necessary.

I've had "Fiduciary" as the underwriter of my TLC insurance since the past three years.

This year, Fiduciary (aka FICA) stop issuing policies for TLC, so I needed to find another underwriter.
First, I asked my existing insurance broker (Mystic Brokerage) for the options.

Mystic said, "American Transit" and "Maya" declined my application due to my existing two speeding tickets convictions in the past three years.

Mystic immediately got me a quote from "Hereford" which was about $400 higher than my previous year's premium.

After telling the Mystic "Hold on to it", I requested a quote from "Inshur" by downloading their app and uploaded all necessary paperwork.

Inshur, quoted me only $200 higher than my previous year's premium from "American Transit" (yes, "American Transit" which I've been told my Mystic that American and Maya rejected me!) along with another quote (which was higher than American) with "Maya".

Of course, I called and emailed the Inshur's quote to my broker at Mystic office and asked for an explanation.

Mystic said, Inshur's quote with American can't be real because I was already rejected by American and Maya.

Anyway, I immediately contacted Inshur and told them that I want to go ahead with them and pay the initial deposit right away so they can issue my policy as soon as possible.

All above interactions was happening the last week of December 2016.

I made a $717.36 initial deposit payment via Inshur app with credit card on January 3rd, 2017.

A few weeks later, I emailed Inshur and asked for my policy, the reply was "We are working on it".

Checking my status on the Inshur app on weekly basis, same thing as "We are processing your policy"...

On February 7th, 2017, I have received an email from Inshur that asking "proof of address" and "utility bill" from me which I already provided those documents at the time of my initial application on the last week of December 2016.

I sent them away the same documents within seconds and the Inshur guy replied me as "Thank you very much for your expeditious reply".

After waiting waiting and waiting, I sent them another email on February 21st, 2017 as below:
I am one of the very first drivers who paid the deposit and submitted all necessary paperwork almost two months ago.
My policy should be issued before all those masses of applicants.
So, where is my policy?
Thank you!"

Their reply is:
You were rejected by American Transit and our other carrier Maya so we have submitted to Hereford.
Apologies for delay."

Amazing! Right?

Of course, I flipped out and asked for the full refund of my deposit which they've been holding since January the 3rd for doing nothing!

Inshur issued a full refund yesterday and emailed me the confirmation which is pending for few days.

Of course, I visited my good old broker yesterday, explained her everything what happened and executed my previous application with Hereford, paid them the deposit (no credit card fee) which was already saved in their system.

Yes, I was also very excited about Inshur at the beginning (same like we all were excited about Juno at the beginning) and surprised that when they approved me with American Transit and almost same quote as last year's (Yes, Inshur checked my driving records at the time of my initial application and already told me that that's the best quote they can give me because of my existing speeding tickets with high points on my DMV abstract) premium.

The questions here to Inshur(!) are;

1) On what ground you approved me with American Transit at the very beginning without even submitting my application to American Transit?

2) I was one of the very first drivers who made the initial deposit and asked for a new policy (all docs submitted o the last week of December 2016 and paid the initial deposit on January 3rd, 2017).

So, why did it take two full months to submit my application to American Transit? and if I did not email you and asked for my policy last week, you would not place my application until the last day probably?

3) You basically got an interest free loan from me for two months and who knows how many other drivers' paid you and couldn't get their policies so far since a month or two.

You lock them in until the very last day of this month, so they have no chance to go to another broker?

I am asking to the general public now;
Is this a fair and honest business practice?

As I mentioned above, I have documentation of all above, emails, hard copies, original docs, cc statements and witnesses.

Some customers may be satisfied with them.

Individual results may be vary of course.

I just wanted to share my bad experience with Inshur.

Just be careful who you are dealing with.

That's all.!

692 Posts
Discussion Starter · #3 · (Edited)
do a dispute with your bank and get your money back, very easy, no headache and you sleep at peace !
I am not worried about getting my money back, at all.

As I mentioned above, "Inshur issued a full refund yesterday and emailed me the confirmation which is pending for few days."

So, if I don't receive my money back by the mid of next week, of course I will be filing dispute with my credit card company. I wasn't asking how to get my money back. Lol

The way Inshur do this business is very unethical, unfair and -what is called in real estate industry is- "bait and switch" type of business practice which should be illegal (as in real estate brokerage business), but unfortunately, due to nature of this FHV/Taxi business in NYC and the quality of people who deals with it makes everybody expose to those kinds of illegal business practices since there is no rules or regulations about this type of practice.

In addition to above, yes, of course I do understand that the Inshur initially quotes everyone with lowest rates possible (even after checking their DMV abstract) without contacting the actual underwriter for their approval and so on, but the real crookness here is, they just lock those drivers in by keep telling them "we are working on your policy" until to a point that (last days of February) that hopeful, clueless and inexperienced drivers can't go to other brokers due to Inshur's cheapest(!) rates (which does not exist in reality) and at the very last moment/day the poor/clueless and uneducated drivers will accept the higher rates from Inshur.

Meanwhile, they will use hundreds (maybe thousands?) of drivers' inital deposits -at least for a month or two- as a "interest free" loan and use it for their operating expenses.

I know, it is not easy to understand for most people here in this forum -like "where do i get ezpass?" level-, but, I believe, some people -eventually- will read his topic, will be able to understand and make it in the news for these kind of illegal business practices.

I'm also shure(!) that, I'm not the only one who has this kind of negative experience with Inshur(!)...

Premium Member
4,558 Posts
You are wrong in regards that there are no regulations. Insurance brokers are licensed by NYS dept of financial services.
You have a right to file a complaint with them. They will investigate and fine them if necessary.

92 Posts
Hi Manhmptn, we apologize for not being able to issue your policy. Our app provides quotes based on rating information we receive from the carriers, in certain situations there may be discrepancies which our outside of our control. For example if someone had a previous policy with the same carrier and there were claims or fraud, etc - the carrier may just deny the application. In regards to your assumption that we use your funds to pay operating expenses - this is simply false. We are indeed licensed by the DFS and each client's deposits are held in a trust account separate from operating funds which draws no interest. As soon as we were notified that you would not be eligible for a policy, we refunded your deposit. Again we apologize for not being able to issue your policy in a timely fashion, but it was most likely due to something being on your record that was outside of our control.

89 Posts
On a side note I think Manhmtn was around Main St Flushing on Tuesday 3/7/17 around 9 pm
I saw a Suburban with those plates ;) I would have waved to say hello but he made a left turn
and was gone
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