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Old 22nd July 2014, 17:40   #76
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Default Re: Insurance Queries?

Friends,


I recently made an insurance claim to replace my left rear door and everything was perfectly done and got my car in mint condition. The next week a lady with no balance came in and hit my same door with her activa and made a dent....:(


I am really worried and upset. Can I claim for the same thing within a week's span?
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Old 23rd July 2014, 08:27   #77
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Originally Posted by sunnyman_46 View Post
Can I claim for the same thing within a week's span?
Aw, thats pure bad luck.
Yes, you can. You have anyways lost the NCB, so might as well get it repaired. if the dent hampers the smooth operations of the door, you should consider getting it repaired. If its not a big amount < 2K then suggest you get it repaired directly at the workshop.
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Old 23rd July 2014, 09:32   #78
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Originally Posted by sunnyman_46 View Post
Friends,
Can I claim for the same thing within a week's span?
Yes You Can!

Once you have claimed insurance, there really is no need to shy away from it. I have had so many such instances. I have realized that it really does not make any sense for me to hold on to the NCB as, in Bangalore you car will get hit. Some idiot will bang you when you have stopped. Some TT will graze your fenders.

Whenever I have any repairs, I do claim insurance. Of-course the disclaimer is if the repair amount is less, that you might as well pay out of your own pocket.
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Old 26th July 2014, 12:50   #79
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Default Re: Insurance Queries?

Thanks for your post friends.

Planning to claim @ Honda dealership next week.
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Old 1st August 2014, 13:11   #80
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Default Re: Insurance Queries?

Hi All,

I have a quick query probably fellow bhpians would be able to help me on this.

I just renewed my car insurance which is valid till Aug 2015. Probably in 3-4 months I am planning to exchange my car with a new one. So I would need clarifications on the below:

1. Will I be able to transfer NCB from my current car to the new car? If yes, how?
2. Should I transfer the insurance to the new buyer or not?
3. How exactly does the NCB transfer work?

Thanks in advance!!
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Old 1st August 2014, 13:47   #81
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Originally Posted by fusionbang View Post
1. Will I be able to transfer NCB from my current car to the new car? If yes, how?
2. Should I transfer the insurance to the new buyer or not?
3. How exactly does the NCB transfer work?
Thanks in advance!!
1. Yes, see point no.3
2. Yes
3. When you sell your car and transfer the insurance, ask your old car's insurance company to issue you a NCB certificate. The certificate they issue stands valid when you take the insurance for your new car and whatever percentage you have, say for eg. 50% NCB is directly applied to your new car's insurance amount.
Only thing is the NCB certificate will be issued in the owner's name of the sold car and applicable to the new car in same person's name only. I got a NCB certificate which is valid for 3 years from the date of issue. I hope that clarifies your doubts. Thank you!
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Old 1st August 2014, 14:17   #82
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Originally Posted by fusionbang View Post
2. Should I transfer the insurance to the new buyer or not?
This is a must. This should be a parallel activity with the car transfer process at RTO. If you are planning to exchange the car with the dealer, then make doubly sure that the ownership & Insurance is duly transferred in the dealer's name to avoid any complications in future.
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Old 1st August 2014, 14:39   #83
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Quote:
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Only thing is the NCB certificate will be issued in the owner's name of the sold car and applicable to the new car in same person's name only.
Thank you ajaypjayraj for clearing my doubts. Currently the car is in my father's name, but I am planning to buy a new car with my name, so I will not be entitled to avail the NCB right
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Old 1st August 2014, 15:00   #84
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Quote:
Originally Posted by fusionbang View Post
Thank you ajaypjayraj for clearing my doubts. Currently the car is in my father's name, but I am planning to buy a new car with my name, so I will not be entitled to avail the NCB right

As far as I know, No. But if there is any other new car planned in your dad's name within the validity of the NCB certificate, you can use it then.
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Old 3rd August 2014, 16:58   #85
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Default Re: Insurance Queries?

Does tata Aig offer 0% dep cover after 3 years? My car has been insured by them till now and the next insurance renewal is next year. Unable to find 0% depreciation cover from them now and the representative from Policy Bazaar also told me that Tata Aig offers the 0% dep cover for the first three years only and not after that.
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Old 3rd August 2014, 17:34   #86
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Does tata Aig offer 0% dep cover after 3 years?
There is no mention on the website regarding the same, best people to confirm are the Tata AIG guys only. There are however Insurers who offer zero depreciation for vehicles upto 5 yrs of ownership. For Eg Future Generali. You can check online to confirm which Insurers provide zero dep addon for more than 3 yrs.
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Old 22nd August 2014, 17:33   #87
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Default Re: Insurance Queries?

I would like to change my bike's insurance from Comprehensive to Third party one. Can somebody throw some light if there is a straight forward way to do it. Long back I did it once for my old car through an agent since no company was allowing to do it online.
It was required to submit a photograph of the owner with the car for this. Recently I saw that Third party insurance can be bought online from HDFC, previously that was not the case, insurance companies would renew the policy as per the previous policy type, Comprehensive to Thirdparty was not allowed.
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Old 9th December 2014, 19:28   #88
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Hello Bhpians, need an urgent suggestion over my Insurance policy renewal. My car is Fiat Punto 90Hp, bought from Vecto Fiat BLR, in 2013 December.

First Year's policy was taken from Dealer which was summed around 27K (Comprehensive, with IDV of 7,19,456), I was completely novice about Insurance payables, now I feel it was a whopping amount.

Now, as it was time for renewal and I wanted to purchase a B2B Policy. I have asked Vecto Fiat to provide me with a Quote, they have provided me 2 Best Quotes with Bharati-AXA, they are below..

1. IDV -7,00,000 Premium - 21,800.00
2. IDV -6,75,000 Premium - 21,000.00

I have cross checked with my Colleagues if this amount was right or not, they smelled something wrong, then I have investigated portals and got to know that the Insurance premium is noticably lesser than what Dealer has quoted, for the same policy. I have below questions, it would be great help if you guys help me out with this.

1. I feel IDV calculated by Vecto Fiat is a higher value, what should be the IDV value calculation for the Current Year, it is 10%(or)15% of IDV value mentioned in the First Years policy? or what would it be?
2. Dealer is insisting on Bharati-AXA, he recommends them as the claim process would be easy, is it true? or I can go with any Insurance Provider which was not recommended by Vecto?
3. Which Insurance Provider is the best one for 4 Wheelers in Bangalore?

Thanks to you all in advance.

-Sai
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Old 10th December 2014, 08:41   #89
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Quote:
Originally Posted by 90Horses View Post
1. I feel IDV calculated by Vecto Fiat is a higher value, what should be the IDV value calculation for the Current Year, it is 10%(or)15% of IDV value mentioned in the First Years policy? or what would it be?
2. Dealer is insisting on Bharati-AXA, he recommends them as the claim process would be easy, is it true? or I can go with any Insurance Provider which was not recommended by Vecto?
3. Which Insurance Provider is the best one for 4 Wheelers in Bangalore?
Sai,
Answering your queries serially:
1) The IDV ideally should be the current ex showroom cost of the model times the depreciation rate i.e 15% in your case since its your first renewal. This is the rule, but Insurance co on renewal quotes normally quote 10% less IDV than last year which is incorrect. Find out the correct IDV by calculation and get the correct renewal premium quote.
2) Check with the Fiat workshop where you normally service the car about the cashless tie ups with Insurance co. Also enquire about the claim settlement review. Then check for the premium quote on the Insurer's website. You will be surprised to find the difference between the dealer provided quotes and the online ones
3) There is no such thing as best. Its all about whats best for your requirements.

FYI, for my Punto the first renewal quote was around 22K with reduced IDV, I checked online and opted for Royal Sundaram with higher IDV and reduced premium of 16.7K including zero dep and windshield add ons.
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Old 10th December 2014, 12:26   #90
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Default Re: Insurance Queries?

Quote:
Originally Posted by ghodlur View Post
Sai,
Answering your queries serially:
1) The IDV ideally should be the current ex showroom cost of the model times the depreciation rate i.e 15% in your case since its your first renewal. This is the rule, but Insurance co on renewal quotes normally quote 10% less IDV than last year which is incorrect. Find out the correct IDV by calculation and get the correct renewal premium quote.
2) Check with the Fiat workshop where you normally service the car about the cashless tie ups with Insurance co. Also enquire about the claim settlement review. Then check for the premium quote on the Insurer's website. You will be surprised to find the difference between the dealer provided quotes and the online ones
3) There is no such thing as best. Its all about whats best for your requirements.

FYI, for my Punto the first renewal quote was around 22K with reduced IDV, I checked online and opted for Royal Sundaram with higher IDV and reduced premium of 16.7K including zero dep and windshield add ons.
Thanks for your reply ghodlur, I have inquired online and I got a better quote from Royal Sundaram with a higher IDV value. As you guessed, I was surprised to see the difference in the amount and wanted to take a suggestion from gurus. I will update on which Insurace I have gone forward with.

-Sai
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