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Old 25th February 2009, 09:00   #121
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Originally Posted by usrivpx View Post
hmm .. loading charges .. as I know in the premium break-up it should get clear if they are charging any. Also are you sure that Bajaj does that for Tata cars .. but why would that be only for Tata ?
Tata car owners have been paying heavy premiums just because they have very heavy claim's in all India level.
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Old 25th February 2009, 11:56   #122
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Unhappy Deliberalised Insurance Sector

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Originally Posted by rjvora_2000 View Post
Tata car owners have been paying heavy premiums just because they have very heavy claim's in all India level.
Wow! That's news to me!

Is that because they are the most popular Taxis? A fall out of the deliberalised insurance sector?

But that should be unfair to private users!

Seems like very soon, Single Male, under 25, red colour 2 door sports car (ok, can be Palio 1.6 sport in Indian terms) would be the highest (relative) premium payer!
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Old 25th February 2009, 12:58   #123
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I got a quote for my Safari from HDFC. Can someone analysis this? Is it good/bad/etc?
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Old 25th February 2009, 16:16   #124
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Originally Posted by Glifford View Post
Wow! That's news to me!

Is that because they are the most popular Taxis? A fall out of the deliberalised insurance sector?

But that should be unfair to private users!

Seems like very soon, Single Male, under 25, red colour 2 door sports car (ok, can be Palio 1.6 sport in Indian terms) would be the highest (relative) premium payer!
Well that is true.

In feature this may happen that red color car will pay more premium then white one.

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Originally Posted by jkdas View Post
I got a quote for my Safari from HDFC. Can someone analysis this? Is it good/bad/etc?
Ask for other company quote this company has given you only 5 % discount you should get somewhere around 15%.

Please go for more quote and see that they do not change the IDV. Did you claim last year? why there is no NCB in this quote?

Last edited by rjvora_2000 : 25th February 2009 at 16:19.
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Old 25th February 2009, 21:58   #125
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Originally Posted by rjvora_2000 View Post
Ask for other company quote this company has given you only 5 % discount you should get somewhere around 15%.

Please go for more quote and see that they do not change the IDV. Did you claim last year? why there is no NCB in this quote?
I did claim. Got 13k or so.

Reliance was supposed to call me. Wil update when I get a quote from them.
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Old 27th February 2009, 14:17   #126
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Originally Posted by jkdas View Post
I did claim. Got 13k or so.

Reliance was supposed to call me. Wil update when I get a quote from them.
From Reliance.
I D V OF THE VEHICLE
680000
BASIC OD PREMIUM @ 3.351
22732
OD DISCOUNT 29%
6592
TOTAL OD PREMIUM
16140
TP PREMIUM
2625
SERVICE TAX@10.30%
1932
TOTAL PREMIUM
20697



Rounded to 20k I guess.

Which is better of the two?
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Old 27th February 2009, 15:34   #127
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In this 2 quote HDFC look's good to me.

Reason:- They have given you more IDV. (Higher the IDV mean more value of the car and in case of total loss you get more money.)

Just tell them to give you more discount or some thing like that.
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Old 27th February 2009, 15:52   #128
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Originally Posted by rjvora_2000 View Post
In this 2 quote HDFC look's good to me.

Reason:- They have given you more IDV. (Higher the IDV mean more value of the car and in case of total loss you get more money.)

Just tell them to give you more discount or some thing like that.
They have quoted more sales tax.
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Old 27th February 2009, 15:58   #129
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Originally Posted by jkdas View Post
They have quoted more sales tax.
It cannot be sales tax but it has to be service tax.

Service tax has been changed from this week itself please ask them to give you quote with 10.30% SERVICE TAX.
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Old 28th February 2009, 12:43   #130
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Hi guys,

I just purchased a second hand 2007 Santro Xing and am looking at buying an insurance for it. The insurance for the car has expired on 9 May 08. I am not driving the car till I get the insurance done(since its a law and I dont want to take undue risks). Since there wont be any renewal involved I am looking at a New Insurance Policy option.
The IDV of my vehicle comes to INR 3,00,000 after depreciation calculated at 20% for cars more than 1 year but less than 2 years old.
All the Insurance companies have the same list of things covered under the policy(defined by IRDA). In fact if we check their websites it looks like a copy-paste from one site to the other. All the private Insurance companies have options for Online renewal, 24X7 helpline for reporting claims etc(textbook stuff) though New India Assurance has the option of premium collection at your doorstep. Some of the guidelines like upto 50% NCB are defined by IRDA so these arent are differentiating factors.
So after reading this thread, surfing the net and talking to the Insurance agents, here is my assessment:
New India Assurance: My service station (Modi Hyundai - Goregaon) has a tie up with them, but I am not keen on signing with a PSU. Somehow I want to avoid government agencies.
Bajaj Allianz: I see a lot of good feedback for them on this thread. I spoke to them and they are sending a representative today. They will be able to give a quote after they inspect the car since the insurance has lapsed. Among the features that they mentioned was a towing allowance of INR 1500(not mentioned on their website). The call center guy also mentioned some form of tie-up with Hyundai though I am not able to substantiate that anywhere on the internet. I am going over to my service station to confirm.
Reliance General Insurance: Seem to be faring well based on the feedback on this thread. However, their website says a towing allowance of INR 2500 but if you download their online brochure, it says INR 1500. Good things about them is the fact they claim they have their own towing service and their tie-ups with 231 garages around India for cash-less transactions (though words like tie-ups heighten my anxiety since last thing that you want while claiming insurance is for the mechanic and the insurance company to be good friends. I rather have the mechanic on my side). They have quoted me INR 8000 as the premium.
Tata-AIG: I was quite surprised with their tactic of giving discount coupons under the guise of free service coupons. Trust is the first thing that you would look at when dealing with insurance. They have mentioned some UNIQUE features like Green Channel Settlement though I couldnt find any specific details on that on their website. Still I will talk to those guys.
Cholamandalam MS: Found that Chola has tied-up with Hyundai for Insurance. So that gives them (and us) access to all Hyundai Dealerships and Service Stations when it comes to issuing / renewing / settling insurance claims. But I didnt find any features like towing allowance being offered.
HDFC ERGO: I had called them up and hope to get a quote from them. I am somehow keen on HDFC (have had a good experience with them for my banking needs).
ICICI Lombard: I am not keen on these guys seeing the feedback here. I received a quote of INR 7232 from them. But these guys are not an option.
I will update you guys based on the quotes that I receive. Thanks for all the help.
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Old 2nd March 2009, 09:13   #131
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You have done too much of hard work. Let me congratulate you on this. I have seen a person like you for the first time because for a premium like 7k to 8k a person doing such a work is amazing.

Heads of to you sirji.
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Old 2nd March 2009, 11:15   #132
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Originally Posted by rjvora_2000 View Post
You have done too much of hard work. Let me congratulate you on this. I have seen a person like you for the first time because for a premium like 7k to 8k a person doing such a work is amazing.

Heads of to you sirji.
Hi rj,

In fact I should be thanking you and the other guys who have posted their experiences on this thread that has helped me take an informed decision.
Had got a call from the Bajaj Allianz guy over the weekend. I should say he was quite beaten back when I started with my rant of IDVs, depreciation values, lower service tax blah blah blah. After that he was ready to consider an IDV of INR 3,51,000 which was the original IDV calculated when the vehicle was purchased by the previous owner. But I didnt go by that and asked him to calculate it on a fair basis of 20% since I read here that claiming a total loss based on such a high IDV would be problematic. He has given me an initial quote of INR 8600. I have asked him to consider other discount options (like ARAI approved security device installed) and give me a best quote this week. I have also made it very clear it to him that I would be taking quotes not only from other insurance players in the market but also from different agents of Bajaj Allianz (your de-tariff funda). Lets see.
One thing that I noticed was BA guys do have tie-ups with Hyundai Authorised Service stations. So thats a positive.
I am waiting for an updated quote. Will keep you guys posted.
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Old 2nd March 2009, 11:38   #133
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@ Anthym - No insurance since 9th May 2008? 10 months no insurance, dont ask for too much discounts! I think you must have called the Bajaj Allianz helpline for a quote. You are fortunate that they are not charging any loading, right Rupesh?

P.S 1 - How can you survive by not driving the car? Rupesh is right, for 7-8k dont do so much of research.

P.S. 2 - I feel depreciation should be done at 15% per year instead of 20%. At 15% its ideal, unless your premium is too high then think of doing it at 20% but not every year.
Other point, when you sell your car, if the IDV on the policy is less than asking price then it might be a problem.
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Old 2nd March 2009, 16:26   #134
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@ Anthym - No insurance since 9th May 2008? 10 months no insurance, dont ask for too much discounts! I think you must have called the Bajaj Allianz helpline for a quote. You are fortunate that they are not charging any loading, right Rupesh?

P.S 1 - How can you survive by not driving the car? Rupesh is right, for 7-8k dont do so much of research.

P.S. 2 - I feel depreciation should be done at 15% per year instead of 20%. At 15% its ideal, unless your premium is too high then think of doing it at 20% but not every year.
Other point, when you sell your car, if the IDV on the policy is less than asking price then it might be a problem.
@Anthym - Even I feel don't fight on % with insurance company, tell them that this is the value which you will get on the sell of the car.

I agree with F50 that you are lucky they are not charging you lording for Not insuring your car for 8 months or so.

Sirji pay the premium this year and keep the bargaining business for the next year, as we also need some matter to discuss for next year also.
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Old 6th March 2009, 12:14   #135
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Hi all,
Can somebody please tell how is Bharti Axa Car insurance? They are quoting very low premium for a renewal which I have presently with ICICI. Please let me know how are they to deal with especially if there is a claim.
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