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Old 20th January 2015, 23:18   #136
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Default Re: Insurance Renewal -- query

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Originally Posted by n_ramesh99 View Post
My Ford Ecosport 1.5 D Titanium (O), registered 25 Jan 2014 is up for insurance renewal. My current insurance is with Royal Sundaram. As I understand, Metro Ford (where I get my car serviced) have cashless facility with Bajaj Allianz, Royal Sundram, IFFKO TOKYO and New India Assurance. I get good quotations starting at 16K from others. But the best I got from the above four is 22.5K

My question is whether it is worth taking insurance from one of the four companies above? One insurance agent claims that there is not much hassle to get payment from other non networked companies also, in case of a claim. I do not know know whether I can take it at its face value.

Thanks
Ramesh
After posting the above and waiting for a few days, I realised that not all queries are responded promptly by members

I would like to make an update. After some consideration, I decided to go with HDFC ERGO Zero Dep option for 16.5 K (20% NCB).

I was willing to spend more money if it is really worth. The reason I decided to go with this option are the following

1) This year, I will have pay about 6K extra for Royal Sundaram or Bajaj Allianz. More importantly, this is likely to continue for following years. For say 5 years, I will be spending about 30K extra.

2) Fortunately I was not involved in a incident with vehicles for past few years. If I can continue that way for some years, then any insurance would be good enough.

3) I found that HDFC ERGO has a bad reputation in mouthshut etc. But I could find that almost all insurance companies share that reputation. I could not see much negative comments on Bajaj Allianz though.

4) HDFC does carry tie up with some Ford dealer workshops, though not with the one I deal with.

I took the policy through Policybazaar mainly because of their followup.
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Old 15th February 2015, 19:53   #137
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Default Re: Insurance Renewal -- query

My Superb's insurance is up for renewal. The car will be 1 year old next month. Current insurance is with Bajaj Allianz and I had a claim last year for cracked windshield so NCB is 0%. Their renewal notice with 0-dep cover (DAE - Drive Assure Economy) comes to ~53k. Without DAE it comes to ~36k. Just wanted to know if this is similar to what someone with a similar car may have paid.

I looked around a bit and here is the pricing/feature summary:

HDFC Ergo (Silver Plan): ~36k. No limit on number of 0-dep claims/yr. Not sure if hydrostatic lock is covered. Bajaj Allianz's DAE covers it.

Bharati SmartDrive (D+RSA): 36k. 2 0-dep claims/yr allowed. Ditto above hydrostatic lock.

L&T dep waiver: ~39k. 2 claims allowed/yr. Ditto about hydrostatic lock.

L&T dep waiver + NCB protection: ~45k. Ditto about hydrostatic lock. But 1 claim/yr will not lower NCB.

Bajaj Allianz no 0-dep: ~36k

Bajaj Allianz 0-dep with DAE: ~53k.

I am inclined towards HDFC Ergo. Anyone having experience with HDFC Ergo and Skoda Mumbai? JMD is listed as a covered garage. Is the cover cashless and are there any hassles with claims? With Bajaj Allianz, there werent any.

Btw, I should mention here that last week I received a call from JMD Skoda to convey to me that insurance is about to expire and check whether I have received an e-mail from insurance company already. They also had the premium amount with them and the lady on the phone told me that the amount was high and she will send me an e-mail with a lower amount. This was ~3 days back and since I was busy with something I missed storing her number on my phone. And also havent received any e-mail from Skoda yet. So I will call up my SA to see who I can speak with there about this. Anyone experienced this from Skoda? Any ideas on how much discount they offer on the premium?
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Old 9th March 2015, 16:20   #138
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Default Re: Insurance Renewal -- query

This is a follow up of my earlier post. I renewed my insurance from Bajaj Allianz. Renewing via JMD was ~1.5k cheaper. So instead of quote of 53k online, JMD offered it to me for 51.xxk. This was Drive Assure Economy.

I wanted rodent coverage and they mentioned it was available with Drive Assure Elite (which VW cars get) and it cost 59k. So I got this one for my car. Hoping I dont have to use it though.
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Old 9th March 2015, 18:07   #139
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Default Re: Insurance Renewal -- query

Dear Insurance experts,

Can I use the copy of form 28/29 (change of ownership) to renew the insurance of a used car in my name which is currently in name of previous owner? The issue is that the process of change in ownership is held up with the RTO and the insurance would expire soon.

Kindly advice.

Thanks!
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Old 10th March 2015, 08:05   #140
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Originally Posted by saket77 View Post
Can I use the copy of form 28/29 (change of ownership) to renew the insurance of a used car in my name which is currently in name of previous owner? The issue is that the process of change in ownership is held up with the RTO and the insurance would expire soon.
Yes you can. Submit the documents with the earlier original Insurance document with an application stating the RTO delay fact and you shoud be able to transfer the Insurance in your name. Once done you can renew the policy.

Alternatively if the previous owner is willing he can renew the insurance and you could take forward the Insurance transfer formalities.
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Old 10th March 2015, 10:11   #141
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Default Re: Insurance Renewal -- query

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Originally Posted by ghodlur View Post
Yes you can. Submit the documents with the earlier original Insurance document with an application stating the RTO delay fact and you shoud be able to transfer the Insurance in your name. Once done you can renew the policy.

Alternatively if the previous owner is willing he can renew the insurance and you could take forward the Insurance transfer formalities.
Thank you Girish for the clear cut instructions. I will opt for the first procedure so as to avoid giving trouble to the previous owner. Also, it should be less complicated than the second option. Thanks for your useful input.

Regards,
Saket
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Old 17th March 2015, 20:10   #142
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Default Re: Insurance Renewal -- query

My XUV 500 is up for renewal with no claims for the 1st year. As reported by fellow bhpians I am also going thru a phase where I am getting everyday 5 calls from different agents with different offers etc. I am really confused now, not being able to decide which company to go for. Or should I simply renew the one that dealer provided last year. To make the matter worst the dealer too has sent 3-4 quotes from different companies.

Please let me know what should I check before I buy the insurance. I check the IDV and total premium but nothing more. What else to check ?

Are these general insurance companies all the same or some are known to be better than others. Please help me to decide.
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Old 18th March 2015, 08:54   #143
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Quote:
Originally Posted by pgupta View Post
My XUV 500 is up for renewal with no claims for the 1st year. As reported by fellow bhpians I am also going thru a phase where I am getting everyday 5 calls from different agents with different offers etc. I am really confused now, not being able to decide which company to go for. Or should I simply renew the one that dealer provided last year. To make the matter worst the dealer too has sent 3-4 quotes from different companies.

Please let me know what should I check before I buy the insurance. I check the IDV and total premium but nothing more. What else to check ?

Are these general insurance companies all the same or some are known to be better than others. Please help me to decide.
Follow the general steps:
1) Find out from your workshop with which Insurance co do they have cashless tie up.
2) Extract information from workshop which Insurance co has a good cashless settlement process & equally good customer care.
3) Get the premium quotes for the shortlisted Insurance co online though their website or comparison websites.
4) Confirm the correct IDV when comparing premium quotes. Seek Forum help if still confused.
5) Buy Insurance.
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Old 29th March 2015, 16:41   #144
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Default Re: Insurance Renewal -- query

Need advise.

My XUV500 was booked on 12/Apr/2013 for an ex-showroom price of Rs. 13,85,969.
2 years have completed and 3rd year is beginning.

1. What should be the ideal IDV ? have received quotes ranging from 10 lacs to 11.50 lacs.
2. How much is the 3rd party Insurance ? have received quotes of Rs. 4,109 and Rs. 5,292.
3. Any feedback on L&T Insurance ? They have quoted the lowest followed by Bajaj Alliance, TATA AIG and ICICI.
4. What is the maximum discount I can extract on the OD premium ? Have received up to 60 percent.
5. Does the Zero Dep premium vary from company to company ? some have quoted 4400 to 6500 for an IDV of 11 lacs.
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Old 30th March 2015, 09:08   #145
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Quote:
Originally Posted by bnzjon View Post
1. What should be the ideal IDV ? have received quotes ranging from 10 lacs to 11.50 lacs.
2. How much is the 3rd party Insurance ? have received quotes of Rs. 4,109 and Rs. 5,292.
3. Any feedback on L&T Insurance ? They have quoted the lowest followed by Bajaj Alliance, TATA AIG and ICICI.
4. What is the maximum discount I can extract on the OD premium ? Have received up to 60 percent.
5. Does the Zero Dep premium vary from company to company ? some have quoted 4400 to 6500 for an IDV of 11 lacs.
Answering your questions serially:
1) Ideal IDV will be current exshowroom cost of the variant/model times the depreciation in %. In your case the depreciation would be 30%. Do the calculation.
2) TP premium for private vehicles > 1500 cc will be Rs 4295 (??, Pls confirm). Add another 400 rupees for other charges.
3) L&T Insurance is relatively new and is very aggressively pricing the premium to garner the market. The best people to give the feedback about the Insurance co and its performance would be the Mahindra workshop guys.
4) Depends on the Insurance co offering the discount. Whats the basis of the 60% discount received, can you provide more details?
5) Yes, Zero dep will vary from co to co based on the OD premium quoted. As the OD premium varies the zero dep amount too varies as it is some % of the OD premium.
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Old 30th March 2015, 14:19   #146
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Default Re: Insurance Renewal -- query

Quote:
Originally Posted by ghodlur View Post
Answering your questions serially:
1) Ideal IDV will be current exshowroom cost of the variant/model times the depreciation in %. In your case the depreciation would be 30%. Do the calculation.
2) TP premium for private vehicles > 1500 cc will be Rs 4295 (??, Pls confirm). Add another 400 rupees for other charges.
3) L&T Insurance is relatively new and is very aggressively pricing the premium to garner the market. The best people to give the feedback about the Insurance co and its performance would be the Mahindra workshop guys.
4) Depends on the Insurance co offering the discount. Whats the basis of the 60% discount received, can you provide more details?
5) Yes, Zero dep will vary from co to co based on the OD premium quoted. As the OD premium varies the zero dep amount too varies as it is some % of the OD premium.
Thanks Buddy.
The discount is offered on the OD premium.
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Old 31st March 2015, 13:59   #147
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Default Re: Insurance Renewal -- query

Is Road Side Assistance compulsory for Zero Dep policy ? TATA, ICICI and Bajaj insist on the same.
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Old 18th March 2016, 00:46   #148
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Default Re: Insurance Renewal -- query

Is there a plan to increase the insurance rate by another 30% from April 1st? Heard about this from a senior agent who works for New India Insurance.
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Old 18th March 2016, 11:19   #149
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Default Re: Insurance Renewal -- query

Folks

I need to renew my Figo's insurance which expires this month end. Currently it is with Bajaj Allianz as it was on company lease and my company only deals with Bajaj. I've got the ownership transferred early this month to a friend (though I still use the car), and also the insurance. In the process I lost NCB, but that is a different topic.

I got a quote from Bajaj Allianz for Rs 16433 for an IDV of 376293. Currently i have zero dep DAE plan, so to with DAE added the quote is for Rs 22000. As I found this to be a tad high, I scouted policy bazaar. I got the below quotes, but am confused on what option to go for. Figures within brackets are the portion of the premium for zero-dep with engine protection by some providers.
  1. New India Rs 12226 (3661)
  2. Future Generali Rs 15259 (3556)
  3. Royal Sundaram Rs 15580 (5410)
  4. L&T Insurance Rs 15622 (4991)
  5. Universal Sompo Rs 18816 (5998)
  6. Reliance Genl Ins Rs 20387 (6698)
  7. Bharati Axa Rs 21959 (5135)
The premium by Bharati Axa closely resembles the one i got from Bajaj, while the one from New India Assurance is nearly half of that.

I'd really appreciate inputs from esteemed members of this forum.

Edit: Meanwhile I called Vibrant Ford and they said their preferred providers were Oriental and Royal Sundaram. Oriental is missing in the quote from Policybazaar. But I still leave it to members to chip in with their feedback.

Last edited by vnabhi : 18th March 2016 at 11:23.
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Old 20th March 2016, 20:37   #150
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Default Re: Insurance Renewal -- query

Renewed my insurance from HDFC Ergo. Used HDFE Ergo last year. They provided maximum IDV and NCB. When i checked in Polizybaazar, it was asking for NCB mentioned in previous policy. But it was not mentioned there. How can we identify NCB from previous policy when we change insurer?
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