Discount for Anti-theft device in Car Insurance

[madbullram]

Folks,
I have a Santro Xing and last year fitted the AutoCop Piranha car security system. I just renewed my Car Insurance. I verified with the Insurance Guy whether there is any discount for installing Anti-theft. He replied promptly that only if it comes as OE the benefit is passed. I was pressed for time so didn't research on it.

Last my when I got the Original Insurance Paper, the calculation column clear has a row that states "Discount for Anti-theft devices". When read the policy document carefully, it only states that the Anti-theft device should be approved by ARAI, Pune. It never states that it should be OEM. My insurance is with Royal Sundaram. My questions are:

1. Is my view correct that I should be getting the discount for installing an anti-theft system?
2. Is Piranha certified by ARAI (I am sure it should be)?
3. How my discount do you guys generally get for Anti-theft?

Cheers!
Madbull-Ram

[caliper]

Haha, the funny thing this is that when you tell these insurance agents that you've also installed an alarm, they want to actually charge you extra becuase it's another thing to be stolen!

I, however, pressed the matter, and he admitted that it's a discount of 5% of the cost of the alarm for a motorcycle alarm.

For a car alarm, I don't remember what the discount is.

The funny thing is, they actually calculate the discount on the basis of the cost of the alarm. I guess they think that a better alarm will cost more, and hence work better.

[Rtech]

1. Is my view correct that I should be getting the discount for installing an anti-theft system?

Yes. You are right. You should get the discount IF the device is approved.

2. Is Piranha certified by ARAI (I am sure it should be)?

You will have to contact the manufacturer and get their confirmation (and any certification to show this maybe?).

3. How my discount do you guys generally get for Anti-theft?

If I remember correctly, there is a maximum discount of a few hundred rupees if you are a member of the WIAA and/or have a recognised/approved anti-theft system on your car. Maybe Rs.200-400 discount.

[madbullram]

Thanks RTech...will check with the AutoCop guys

[mithun]

I got a discount of Rs.360 on Insurance last year for the anti-theft device. Although the mentioned amount is about Rs.500 !!!

[sanchits]

hey guys, i have a swift zxi, i just got my insurance done and i got a discount of RS.250 for the anti theft device. man...250 only...tht sucks.

[BaCkSeAtDrIVeR]

I got 210 off on first premium for the brand new car for having an anti-theft alarm; but for renewal, I am told the discount will be only 120. :-(

Maruti/National insurance, WagonR.

[GSMINC]

The actual rule is:
1) A disount of 2.5% on the IDV (Insurewd declared value) or upto a maximum amount of Rs.500/- is given if you have installed a anti theft device approved by ARAI (most car security systems are ARAI approved) Imported ones may not be approved .
2) A disount of 2.5% on the IDV (Insurewd declared value) or upto a maximum amount of Rs.500/- is given if you are a member of a recognised Automobile association ( WIAA, AASI UIAA etc). Memberships inthese associations cost Rs.500 per year or Rs.3000 for life memberships covering 2 cars & 2 two wheelers.
Hope this clarifies & suffices..

[lambuhere1]

Sorry to ignite old thread, but one quick clarification.

Is the discount on ICATS taken out from your NCB. I got a quote from RS daying that for my ICATS OE installed, they give the discount from my NCB. Can anyone please confirm this. I know it sounds irksome, but if it can be confirmed that its seperate, then I shall sit on their heads for it.

Expecting your kind reply

[BaCkSeAtDrIVeR]

I did not get any discount at all for iCATS. What I got was a discount for the AutoCop.

[lambuhere1]

Originally Posted by BaCkSeAtDrIVeR

I did not get any discount at all for iCATS. What I got was a discount for the AutoCop.

Recd my policy today, Got discount for ICATS, but that amount was removed from my NCB. Its a small amount of 200 odd rupees.

Good thing what I did this time was to include the insurance for passengers also.

Each passenger, Max 5 passengers in the car, is insured for 2,00,000 for a premium of Rs 100/-. Friends advice.

Now the question is to what procedure do we need to adopt to claim the passenger insurance incase any untoward accident happens ? Does it cover medical charges , hospitalization also ?

Can anyone be able to shed light on this please ?

[mithun]

Originally Posted by lambuhere1

Recd my policy today, Got discount for ICATS, but that amount was removed from my NCB. Its a small amount of 200 odd rupees.

Good thing what I did this time was to include the insurance for passengers also.

Each passenger, Max 5 passengers in the car, is insured for 2,00,000 for a premium of Rs 100/-. Friends advice.

Now the question is to what procedure do we need to adopt to claim the passenger insurance incase any untoward accident happens ? Does it cover medical charges , hospitalization also ?

Can anyone be able to shed light on this please ?

It's like the Medical insurance. It'll cover medical charges , hospitalization etc.