[nairrk]

Before expiring the Policy, you can renew with any insurance company and they will give you the NCB (20%). Just give a copy of the existing policy certificate and ask the insurance company for a quote. With quotes from different companies, you can decide to whom you need to finalise.
As already explained in my fiesta thread, I have changed from BA to National Insurance and I had to pay total Rs.12750 basis IDV Rs.575,000/. The amount includes 4 passangers coverage of Rs.1 lakh each(besides usual OD and TPD).

They have given me 20% ncb and 15% personal discount on the premium amount!!

[ghodlur]

Originally Posted by nairrk

Before expiring the Policy, you can renew with any insurance company and they will give you the NCB (20%). Just give a copy of the existing policy certificate and ask the insurance company for a quote. With quotes from different companies, you can decide to whom you need to finalise.
As already explained in my fiesta thread, I have changed from BA to National Insurance and I had to pay total Rs.12750 basis IDV Rs.575,000/. The amount includes 4 passangers coverage of Rs.1 lakh each(besides usual OD and TPD).
They have given me 20% ncb and 15% personal discount on the premium amount!!

Nairji,

Thanks for the information. I have seen that most insurers do give the NCB when I request for online quotes. However they do not mention about any additional discounts in the online quotes. For that I will have to approach an agent which means a personal visit for manual form filling.

Now even BA provides unnamed passenger cover for 2 lakh each for a premium addition of Rs 500/-. Have asked the BA and National insurance agent to give a call. Lets see.

[nairrk]

Originally Posted by ghodlur

Nairji,

Thanks for the information. I have seen that most insurers do give the NCB when I request for online quotes. However they do not mention about any additional discounts in the online quotes. For that I will have to approach an agent which means a personal visit for manual form filling.

Now even BA provides unnamed passenger cover for 2 lakh each for a premium addition of Rs 500/-. Have asked the BA and National insurance agent to give a call. Lets see.

+
Best way is to squeeze the agent to get better quote/discount. I too had the initial policy from BA but they only offered ncb on renewal. However when National Insurance agent approached me, I insisted that I should get a good discount otherwise I will not change from BA. Hence I got the 15% discount from NI.

[kiku007]

Originally Posted by kiku007

A friend of mine is planning to take the Bharti AXA smart_drive_private_car_insurance.

The agent claims that,
ALL Accident Damage Repair claims will be paid in full by the insurance company without any depreciation loss. Sounds tooooo good to be true.

I'm not able to find any explicit mention of this in their website nor in the attachment,

SMART DRIVE PRIVATE CAR INSURANCE

Have you guys heard about this? Any information on this is highly appreciated. Thanks.

Moment of truth arrived sooner than we expected! My friend's Ikon met with an accident soon after taking this insurance policy. My friend paid only around Rs.1500 of an repair bill of Rs.71000. Rest was neatly settled by Bharti AXA

Important Clause? Full claim can be availed only twice a year.

[figo_united]

My figo's insurance is up for renewal next month, and I got a renewal quote from bajaj allianz.
When I went through it, I noticed that the vehicle variant in the current policy has been wrongly specified as figo 1.4 Diesel EXI
Mine is a titanium variant though.
I know its a mistake on my part too, not to have noticed it for so long!

Now wanted to check if this will be an issue during renewal?
Can I get it changed appropriately in the renewed policy if I decide to continue with bajaj allianz?
If I plan to shift to another provider, will this be an issue?
Please help.

[BobbyAlexander]

My brand new Beat got scratched after turning close to a divider. New driver you see. The scratch is at the lower half of the car, at the bottom of both the doors (driver and rear) and a bit on the portion above the rear wheel. Any idea how much it would cost to get it repaired myself? Should I claim insurance?
Really sad. The car is only a month old.

[markmytravel]

My car is due for it's first insurance renewal next month. Existing HDFC Ergo quoted Rs. 13600 with 20% NCD and IDV of Rs. 560000. Got a call today from Bajaj Allianz for Rs 11900 with 40% NCB, 20% bonus, some Rs. 1500 worth carnation coupons and IDV of Rs 600000. The same bajaj guy quoted Rs. 550000 IDV few days back for Rs. 11445.

Why is the quote different and can there be hidden issues with bajaj guy?
Can anyone please suggest the best way to get the Insurance renewal
done?

[ghodlur]

Originally Posted by BobbyAlexander

My brand new Beat got scratched after turning close to a divider. New driver you see. The scratch is at the lower half of the car, at the bottom of both the doors (driver and rear) and a bit on the portion above the rear wheel. Any idea how much it would cost to get it repaired myself? Should I claim insurance?
Really sad. The car is only a month old.

You will need to check with the GM Service guys and if the amount is small then no need to claim insurance. Leave the scratch for the moment if its not really an eye sore. Since the driver (I take it its you) is stil new, there are bound to be more such incidents (God forbid but you are on Indian roads). A similar place scratch on my Fiesta would cost me 3k if I were to get it repaired but I preferred not to at this moment.

[figo_united]

Originally Posted by markmytravel

My car is due for it's first insurance renewal next month. Existing HDFC Ergo quoted Rs. 13600 with 20% NCD and IDV of Rs. 560000. Got a call today from Bajaj Allianz for Rs 11900 with 40% NCB, 20% bonus, some Rs. 1500 worth carnation coupons and IDV of Rs 600000. The same bajaj guy quoted Rs. 550000 IDV few days back for Rs. 11445.

Why is the quote different and can there be hidden issues with bajaj guy?
Can anyone please suggest the best way to get the Insurance renewal
done?

I guess that is the way insurance renewal works. I'm no expert though, I just got my first renewal done as well, so can share this.

My existing policy was bajaj, and I had got a quote with 20% NCB and 20% discount. I checked up a couple of other quotes online and icici lombard seemed to be a bit lower in premium. When I told the bajaj agent that I was checking with other companies and it might work out for less, He got the quote revised and gave a 30% discount.
Since my A.S.S deals mostly with bajaj and they have cashless facility too, I opted for bajaj and renewed.

I dont think there can be any issues with the policy, I think the policy guidelines are fixed by IRDA. All the companies play around with the quote using the discount figure (and goodies like coupons that you have been offered ).
Also you can choose what IDV you want[In the range permitted] and the premium changes accordingly.
IRDA specifies a schedule of depreciation for arriving at IDV value

Not exceeding 6 months
5%
Exceeding 6 months but not exceeding 1 year
15%
Exceeding 1 year but not exceeding 2 years
20%
Exceeding 2 years but not exceeding 3 years
30%
Exceeding 3 years but not exceeding 4 years
40%
Exceeding 4 years but not exceeding 5 years
50%

I had prepared an excel with formulas used by bajaj allianz and verified it with the 3 quotes I got from them for different IDV/Discount/Premium values.

Here's the calculation for your case - IDV = 600000, NCB = 20%, Discount = 40% [I think you have interchanged the ncb and discount in your post. ncb is fixed at 20% for first year i think.]

IDV -> 600000
3.191% of IDV -> 19146 [see explanation for this below]
Subtract 20% NCB -> 15316.8
Subtract 40% discount from company -> 9190.08

Premium -> 9190.08

Add Basic thrid party liability 880
Add PA for owner driver 100
Add LL to person for operation 35
Add 10.2% Service tax and cess 1040.91816

Final Premium 11245.99816


The rate for premium for own damage cover is fixed by irda based on engine capacity.
<1000cc - 3.039%
>1000 but < 1500cc - 3.191%
>1500cc - 3.343%

This is what my understanding is.
Experts please correct if I am wrong!

[Mr_Bean]

My car(BSII baleno) is more than 6 years old. I have insured my car with Bajaj Allianz and it is due for renewal.

Does it make sense to go for a comphrehensive or 3rd party? Please throw light.

I have not made claims during the last year, as result I got 20% NCB, so the final amount comes to 8000/- rupees.

[thesilentone]

Hi everyone.

I want to buy the new Maruti Swift and then sell my existing Tata Indica. My Tata Indica has a No-Claim Bonus of 50% but the renewal of the policy is only in April. The service provider is Tata-AIG. Is there any way in which I could use the No-Claim bonus for the new Swift before selling off the Indica? I would appreciate an appropriate suggestion. Thanks in advance.

[ethanhunt123]

From what i understand, you cant use your NCB until you sell off your Indica. So get the swift with insurance now, then sell off your Indica without transferring your insurance. Once the sale goes through, you can forward the copy of RC and delivery note to TATA-AIG and get the NCB certificate. You can choose to use this during 1st yr insurance renewal of your Swift or forward the certificate to the company from which you took your Swift insurance from and get a refund. I think the details of how to do the second is in one of the Fortuner ownership threads.

[saion666]

I have a ICICI lombard policy. Now the problem is it is a 'dealer policy'(that's what the customer care executive said) and it cannot be renewed online!!!

They are asking me to visit the dealer to get the policy renewed or visit an ICICI Lombard branch. This is not possible(err difficult) for me considering my busy schedule and me living out of my hometown.

I am pissed with ICICI and want to go for TATA AIG through online. Do I need to get a NCB certificate from ICICI or I can go ahead and purchase an online policy from TATA AIG with the declaration thing where you sign that 'you are eligible for NCB' and TATA AIG would verify the ingenuity of the NCB eligibility from ICICI?

Proper guidance would be helpful, am pissed with these call center so called 'executives' who rant the same mugged up words.

[ghodlur]

Originally Posted by saion666

I am pissed with ICICI and want to go for TATA AIG through online. Do I need to get a NCB certificate from ICICI or I can go ahead and purchase an online policy from TATA AIG with the declaration thing where you sign that 'you are eligible for NCB' and TATA AIG would verify the ingenuity of the NCB eligibility from ICICI?

If you are not happy with ICICI, no one is stopping you from taking an Insurance from Tata AIG. The policy can be taken online and you can use the NCB for the year when filling the online form. If Tata asks for a NCB letter, forward them your old ICICI policy no and ask them to collect it from ICICI directly.

One suggestion, choose your words carefully when posting or you stand a chance to be infracted.

[sindabad.sailor]

Hello All,

I have registered for a claim due to our car colliding with our neighbour's parked car. Our policy is with Tata AIG full comprehensive. Neighbour has only 3rd party. Now while registering the claim, I was told that an FRI is not required as the both the parties are amicable. Hence we have shifted car to our respective garages. The surveyor however is mentioning that an FRI is must for claiming the 3rd party property damage.

I have re read the policy wordings which explicitly mentions the FIR requirement only in case of bodily injury. It specifically states the limit as Rs 6000 as limit of the liability for 3rd party property damage without bodily injury. This section doesn't specify the requirement of an FIR.

Grateful for advices on how to proceed. I wish to effect the repairs to his car due to moral responsibility. However would like to use insurance protection to lower the financial set back. The garage where the neighbours car is taken, has mentioned that repairs cost as around 8-10K Rs which includes bumper replacement / headlight replacement / bonnet repair and one side panel repair including painting costs and labour.

What steps should I take to ensure that the insurance company pays the stipulated 6000 Rs contribution. The surveyor would be inspecting my car today. I intend to get my work approved and later on once paper work is finished fight for the third party damage claim. Same time I do not wish my friend's car be held unnecessarily.

Thanks for your advices.