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Old 22nd March 2013, 14:48   #91
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Default Re: Insurance Renewal -- query

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Originally Posted by ghodlur View Post
Partly you are to be blamed for overlooking the Insurance expiry date, Insurance is always taken before the car is registered. Suggest you to swallow the bitter pill and take the car to the FG office for inspection. The dent is not going to make any huge dent in the Insurance premium, so relax. Most Insurers ask the vehicle inspection as a formality. So try some sweet talking to the FG people and you might be issued an insurance without any penalty. I am sure you will mark the Insurance renewal date in your calendar with a big alarm.
You can think about repairing the dent after the Insurance policy is issued.
Thanks for the advice, man. And yes, I am certainly to be blamed for the carelessness. But I thought FG guys would call/send a reminder when due date gets near.
Anyway, would go to FG office and try to get a good deal.
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Old 22nd March 2013, 15:09   #92
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One year old Fiat Punto.

My insurance was from Future Generali which was done directly by the dealer.

Now I got delivery of the car on 23rd march'12 ; so I was under the impression that my insurance will expire on 22nd midnight. But when I checked it today, it had already expired on 19th midnight!

Now according to Future Generali people and others with whom I spoke, I cannot renew the insurance online and will have to visit a branch where car inspection will be done.

The twist is - I have a dent on one of the doors which I could not get repaired due to busy schedule and now my insurance has lapsed. And since this requires an inspection before the new insurance, it'll come to their notice and I'm guessing they won't pay for it.

What should be the best way to get out of this? Please help, guys!
Since the insurance has lapsed, a fresh inspection would be carried out for your vehicle. Insurance companies generally send the surveyor to your place. The dent doesn't cause any penalty or higher premium. The policy would be issued just as it would have been earlier the only difference - you can't take claim for the exact dent.

In case in future you get a new dent on the same piece, then you can take a claim but around 25% extra has to be paid by you.

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Originally Posted by nettooran View Post
Presently I have my car insured with ICICI Lombard. The renewal is due in another 3 weeks. ICICI have given me a quote of about 13.5 k with an option of 2.5 % discount if paid online. that comes to about 12.8k. However, when i checked the online portal for ICICI and gave the option as new policy, I could get a quote for less than 10k (after giving same details), that too for a higher IDV.

Would there be any complications if I go for the new policy from same provider. While filling up the online form, I was asked if my present insurance provider is ICICI and I filled in negative. will this cause any issues at later stage?
I suppose the system won't accept it.Even if it does, icici may reject it later. Why don't you find some agent, they may offer you a better quote.
This is strange that you are getting a lower quote for a higher idv if new. Are your sure both the policies are same , one may be zero depreciation while the other may not.

Last edited by Rudra Sen : 22nd March 2013 at 15:17. Reason: merging posts
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Old 25th March 2013, 12:43   #93
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Originally Posted by Hulk View Post
One year old Fiat Punto.

My insurance was from Future Generali which was done directly by the dealer.

Now I got delivery of the car on 23rd march'12 ; so I was under the impression that my insurance will expire on 22nd midnight. But when I checked it today, it had already expired on 19th midnight!

Now according to Future Generali people and others with whom I spoke, I cannot renew the insurance online and will have to visit a branch where car inspection will be done.

The twist is - I have a dent on one of the doors which I could not get repaired due to busy schedule and now my insurance has lapsed. And since this requires an inspection before the new insurance, it'll come to their notice and I'm guessing they won't pay for it.

What should be the best way to get out of this? Please help, guys!
As far as I checked there is a 90 day window after the policy lapses. Only after that will you need to get the inspection etc done. Further your NCB if any should be valid
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Old 25th March 2013, 22:14   #94
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Default Re: Insurance Renewal -- query

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Originally Posted by indian21r View Post
As far as I checked there is a 90 day window after the policy lapses. Only after that will you need to get the inspection etc done. Further your NCB if any should be valid
I talked to FG people and they said you need to get the inspection done even if you are late by a single day. The NCB, however, is valid for a period of 45 days or so.
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Old 26th March 2013, 06:57   #95
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I talked to FG people and they said you need to get the inspection done even if you are late by a single day. The NCB, however, is valid for a period of 45 days or so.
Oh. In that case try checking online. I am trying to renew a lapsed policy but it is more than 90 days. That is why I was mentioning the 90 day period
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Old 12th April 2013, 17:25   #96
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Default Re: Insurance Renewal -- query

My car insurance is due for renewal on 14th of May, currently my car is insured with National Insurance but the quote that i have received from Bharti AXA is 12K and for National Insurance its is 16K. Just wanted to check if it would be wise to go with Bharti AXA and save some money or should i go with National Insurance. I also have received quotes from Tata AIG, Bajaj Allianz and HDFC ergo which are around 14K.

Also, is its advisable to go in for the zero depreciation for a 1 year old Car?
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Old 15th April 2013, 09:17   #97
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Originally Posted by Gomzy View Post
My car insurance is due for renewal on 14th of May, currently my car is insured with National Insurance but the quote that i have received from Bharti AXA is 12K and for National Insurance its is 16K. Just wanted to check if it would be wise to go with Bharti AXA and save some money or should i go with National Insurance. I also have received quotes from Tata AIG, Bajaj Allianz and HDFC ergo which are around 14K.

Also, is its advisable to go in for the zero depreciation for a 1 year old Car?
Absolutely you should go for the zero depreciation if it does not hurt your pocket much. How's your experience with National Insurance been for the first year, now that they have online renewal facility you can find out whether the online quote matches with what you have. Does NI provide zero dep add on? http://niconline.in/

Does your car's workshop have cashless settlement tie up with any of the above mentioned Insurers?
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Old 15th April 2013, 10:32   #98
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Default Re: Insurance Renewal -- query

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Originally Posted by ghodlur View Post
How's your experience with National Insurance been for the first year
Being the first year of my policy i have not claimed anything from National Insurance (NI).

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Originally Posted by ghodlur View Post
now that they have online renewal facility you can find out whether the online quote matches with what you have. Does NI provide zero dep add on? http://niconline.in/
I am unable to renew my policy online since the first policy was taken through the Maruti Dealership where i bought the Car, and the customer support directed me to renew the policy through their agents, only after which i can renew the same online next year onwards.

They do have the Zero Depreciation Policy but the premium is around Rs. 19000/-. Bharti Axa is providing the same policy for Rs. 16,000/-. I happened to see their (BHarti AXA) list of cashless networks on their website, they have covered majority of the Maruti Authorised Service Centres throughout India.

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Originally Posted by ghodlur View Post
Does your car's workshop have cashless settlement tie up with any of the above mentioned Insurers?
Bharti AXA, HDFC Ergo have tie ups with the workshops, i am just a bit skeptical regarding their claim processing. My Best bet would be Bharti AXA, for the plain reason that they are the First Insurance Company to advertise their simple claim procedures and maximum benefits, secondly they are the cheapest of the lot.
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Old 22nd July 2013, 12:20   #99
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Default Re: Insurance Renewal -- query

My current insurance is from National Insurance Company (through Maruti). My SX4 is a 2007 model. The current policy is due for renewal in the next couple of days. Not sure whether I am getting a good quote on the renewal as the quote is for a higher amount for a 45K reduced IDV. I was told that the third party liability premium has gone up now. Please see the below table and advice me whether it is worth to shop around for a lower quote? or does this look ok? The last row is the quote I received just now..
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Insurance Renewal -- query-ins.jpg  

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Old 22nd July 2013, 13:01   #100
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Originally Posted by psvinay View Post
I was told that the third party liability premium has gone up now. Please see the below table and advice me whether it is worth to shop around for a lower quote? or does this look ok? The last row is the quote I received just now..
Yes, the TPL premium has been hiked since April 2013, hence even if you have saved on the OD premium, the savings has been nullified by the TPL hike. The quote looks OK and wouldnt matter much since you already have the maximum NCB. I am not sure if you could save anything more than a few hundred if you want to shop outside. You can try it just for the sake of it, but I would suggest stick to present Insurer unless you are not Ok with the service.
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Old 9th August 2013, 14:58   #101
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Default Re: Insurance Renewal -- query

Hello Everyone,

I need some advice . I currently have 0 dep insurance cover for IDV 12,59,6000 from Royal Sundaram for 35919.

My insurance expires on Sep 15th 2013.

I have 3 quotes

Liberty Videocon -- 26720 -- UDV 11,40,000
Bharati Axa -- 24490 -- IDV 11,34,000
Sundaram -- 34181 ( 34000 something to be honest) -- IDV 11,32,000


Which one do you guys suggest ?
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Old 9th August 2013, 20:20   #102
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Originally Posted by dreadknight5 View Post
My insurance expires on Sep 15th 2013.
I have 3 quotes
Liberty Videocon -- 26720 -- UDV 11,40,000
Bharati Axa -- 24490 -- IDV 11,34,000
Sundaram -- 34181 ( 34000 something to be honest) -- IDV 11,32,000
Can you confirm if the above insurers mentioned do have a cashless tie up with the workshop where you get your car serviced? if so then I would suggest stick with RS. Better if you can confirm with the workshop about Bharati/Videocon's claim settlement record. If ok, then you can opt for the lowest quote. I guess all the above quotes are with zero dep cover also.

BTW which car is this?
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Old 9th August 2013, 20:34   #103
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Default Re: Insurance Renewal -- query

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Originally Posted by ghodlur View Post
Can you confirm if the above insurers mentioned do have a cashless tie up with the workshop where you get your car serviced? if so then I would suggest stick with RS. Better if you can confirm with the workshop about Bharati/Videocon's claim settlement record. If ok, then you can opt for the lowest quote. I guess all the above quotes are with zero dep cover also.

BTW which car is this?
Its an Xuv 5OO. Yeah I am checking Bharati AXA. They don't seem to have any garages listed on their website. Videocon has, and I guess I will go with Videocon.

And yes all the above quotes are Zero Depreciation. With Sundaram, its strange that they are giving me a discount of about 1k despite no claims.

My current policy is with Sundarams for 35000 something and the renewal is 34000 something despite no claims.

Last edited by dreadknight5 : 9th August 2013 at 20:42. Reason: Missing information
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Old 30th August 2013, 17:37   #104
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Default Re: Insurance Renewal -- query

My new Car Policy is expiring on 18th October.
Got a call from dealer to renew the car insurance.
They are offering various premiums at various IDVs which are as follows:
IDV 559008 Premium 11039
IDV 597000 Premium 11699

After this I called up ICICI Lombard where I have my insurance policy, they are giving me the following quote:
IDV 518xxx Premium 10740

I am not able to understand the variety of quotes from a single insurance provider.
Should I stick with a higher IDV?

The person at ICICI Lomard told me that in cases of total loss, the IDV is calculated as per the latest formula and does not matter what IDV is there on your policy certificate.

I am totally confused. I have time at hand since my policy is expiring in October 2013.

Would appreciate if I can get some light on the above.

Cheers..!!
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Old 31st August 2013, 13:14   #105
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Originally Posted by abhijeetsng View Post
I am totally confused. I have time at hand since my policy is expiring in October 2013.
Ideally the IDV is calculated as a depreciated percentage based on the years of ownership of the current ex showroom cost of the car model variant. But its been a illegal practice of Insurers and dealers to use every other calculation in the book other than the legal one. Hence the various IDV values and corresponding premiums. Dealers give variety of IDV options depending upon the commission they get from the Insurers. Insurance co on the other hand want to bring new customers, hence they offer lower premiums. And what the ICICI guy said about total loss is BS, dont listen.

A suggestion - stay away from ICICI.
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