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Old 27th November 2014, 14:48   #121
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Default Re: Insurance Renewal -- query

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Originally Posted by E90-E250 View Post
Guys

If you happen to sell your car , claim a NCB certificate from the insurer and transfer it to to your new insurance. The insurance guys will not accept it initially for they loose money on it.

I transferred my Sonata 45% NCB to my new delivery Mercedes E class... Thats 45% off on 189000. Thats a big saving...
Surprising you say they may not accept it, probably in your case because the value is so high. Otherwise I have had no such issue, of course the money involved was much much lesser

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Originally Posted by hillsnrains View Post
My Skoda Rapid TDI Elegance 2011 insurance is up for renewal. Here are the quotes I have got for zero dep. insurance policy
Insurance quotes I have got for IDV : 7,09,943/- with 35% NCB are as follows
Future General: 20,714/-
Bharati Axa: 21,870/-
HDFC: 24,560/-
Tata AIG: 21,540/-

I have my current policy with TATA AIG. Should I simply continue with them? Any inputs are appreciated.
Except for HDFC, rest everyone are almost same. Since you are already with TATA AIG, tell them that you have a better quote from others and unless they match the quote you will go elsewhere and I am sure they should be able to match it as the difference isn't much.
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Old 27th November 2014, 15:04   #122
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Default Re: Insurance Renewal -- query

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Any inputs are appreciated.
After being their customer for many years, I decided to come out of a sarkari insurance company [through agent] to Royal Sundaram [direct] as it proved to be cost-effective, quick and the best customer care! Why don't you get a quote from Royal Sundaram and then decide? I got free one year RSA from MyTVS. The details are here.
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Old 27th November 2014, 15:09   #123
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Default Re: Insurance Renewal -- query

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Originally Posted by J.Ravi View Post
After being their customer for many years, I decided to come out of a sarkari insurance company [through agent] to Royal Sundaram [direct] as it proved to be cost-effective, quick and the best customer care! Why don't you get a quote from Royal Sundaram and then decide? I got free one year RSA from MyTVS. The details are here.
Quote I got from RS is 21,720/- more over IDV is 20K less than the rest.
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Old 27th November 2014, 16:33   #124
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Default Re: Insurance Renewal -- query

[quote=ILTDrive;3590025]Surprising ybiay they may not accept it, probably in your case because the value is so high. Otherwise I have had no such issue, of course the money involved was much much lesser

Hi
Their initial response was that both were not from the same segment and hence NCB was not justified
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Old 28th November 2014, 13:04   #125
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Default Re: Insurance Renewal -- query

Skoda Rapid TDI Elegance, make: 2011, IDV : 7,09,943/- with 35% NCB
I have shortlisted the following two quotes:
Tata-AIG: 21,524/-
Future General: 19,540/-

The difference is 2K. Should I go with Future General?
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Old 28th November 2014, 13:12   #126
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Default Re: Insurance Renewal -- query

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Originally Posted by hillsnrains View Post
Skoda Rapid TDI Elegance, make: 2011, IDV : 7,09,943/- with 35% NCB
I have shortlisted the following two quotes:
Tata-AIG: 21,524/-
Future General: 19,540/-

The difference is 2K. Should I go with Future General?
Check with your regular service center as to whom they have the cash less tie up with and go with them. You can always bargain with a quote in hand with the preferred insurance provider. My 2 cents.
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Old 28th November 2014, 19:18   #127
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Default Re: Insurance Renewal -- query

I just renewed the Yeti's insurance. Third year.
Bajaj Allianz Comprehensive at approx 15K with 50% NCB.
Another 15K for the Drive Assure (Zero Dep) plan.
Each passing year, my Insurance cost keeps reducing by a few thousand. But the Zero Dep policy remains the same more or less.

I just think of it like this: It costs me Rs 2500 per month, for complete peace of mind. Considering this is around the same as a general mobile telephone bill, I guess it puts things in perspective.
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Old 29th November 2014, 09:04   #128
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Default Re: Insurance Renewal -- query

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Originally Posted by shankar.balan View Post
I just think of it like this: It costs me Rs 2500 per month, for complete peace of mind. Considering this is around the same as a general mobile telephone bill, I guess it puts things in perspective.
Yes, this is the perfect way of thinking when you are spending 30K.

0% Dep. should be taken for 5 year's. In long run I believe you are gaining more then loosing.
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Old 29th November 2014, 10:19   #129
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Quote:
Originally Posted by hillsnrains View Post
My Skoda Rapid TDI Elegance 2011 insurance is up for renewal. Here are the quotes I have got for zero dep. insurance policy
Insurance quotes I have got for IDV : 7,09,943/- with 35% NCB are as follows
Future General: 20,714/-
Bharati Axa: 21,870/-
HDFC: 24,560/-
Tata AIG: 21,540/-

I have my current policy with TATA AIG. Should I simply continue with them? Any inputs are appreciated.

Hi

I would suggest to kindly check with your workshop if they have cashless tie-ups with all the above mentioned companies and then take a call by comparing the cheapest quote among those.
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Old 8th December 2014, 10:36   #130
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Default Re: Insurance Renewal -- query

Quote:
Originally Posted by hillsnrains View Post
Skoda Rapid TDI Elegance, make: 2011, IDV : 7,09,943/- with 35% NCB
Quote:
Originally Posted by ILTDrive View Post
Check with your regular service center as to whom they have the cash less tie up with and go with them. You can always bargain with a quote in hand with the preferred insurance provider.
Quote:
Originally Posted by advaninilesh View Post
I would suggest to kindly check with your workshop if they have cashless tie-ups with all the above mentioned companies and then take a call by comparing the cheapest quote among those.
Both Tata AIG & Future General are having cashless tie-up with my primary service centre(Vinayak Skoda).
I took the plunge and gone ahead with Future General insurance for 19,540/-premium with add on (bumper to bumper).
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Old 2nd January 2015, 18:27   #131
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Default Re: Insurance Renewal -- query

Hi!

I have to renew the insurance policy for 2nd year. I had an ICICI Lombard 0% dep policy for the 1st year and it served me well. I made 2 claims which costed more than 40k. The premium was 27k for an IDV of 770559.

Since I made a claim, I am not going to receive any NCB.

When I checked online, various companies like TATA AIG, Bharti and even ICICI Lombard, they are offering a premium of 18k while the Maruti tie up ICICI Lombard is offering Rs.19500/- . The IDV is 648500 for all.

Is there any difference between the two?

The reply I got was "since its a tie up from Maruti and an offline insurance, hence the increase in cost", which sounds weird.

I hope I am not being cheated.

Thanks
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Old 2nd January 2015, 19:21   #132
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Red face Re: Insurance Renewal -- query

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Originally Posted by 4k_jz View Post
When I checked online, various companies like TATA AIG, Bharti and even ICICI Lombard, they are offering a premium of 18k while the Maruti tie up ICICI Lombard is offering Rs.19500/- . The IDV is 648500 for all.

Is there any difference between the two?
Firstly confirm if the IDV is correct coz the difference of almost than 1.3L is totally incorrect. Even going by the thumb rule of 10% less than last year's IDV, your present IDV should be close to around 6.9L. Calculate the IDV correctly based on the years of depreciation and then compare the premium. No point in paying less premium and under insuring your car.

The difference in the premium between the Insurers depends on what is being offered in the Insurance. Take an informed call.
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Old 2nd January 2015, 21:38   #133
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Default Re: Insurance Renewal -- query

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Originally Posted by ghodlur View Post
Firstly confirm if the IDV is correct coz the difference of almost than 1.3L is totally incorrect. Even going by the thumb rule of 10% less than last year's IDV, your present IDV should be close to around 6.9L. .
The quote I have got gives an IDV of 6.5L only. I recently checked it on policy bazaar and their I am being given an IDV of only 6L!

The IDV might have decreased because of the 2 claims I have made?

I just confirmed the IDV - it is 6.5L max.
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Old 5th January 2015, 08:00   #134
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Originally Posted by 4k_jz View Post
The IDV might have decreased because of the 2 claims I have made?
No IDV doesnt have to do anything with claims. The premium however depends on the IDV and the no of claims made.

The reason for getting different values of IDV is because the vehicle prices databases of most of the Insurance co arent updated. Ideally your IDV should be the current ex showroom cost of the vehicle times the depreciation in % based on the age of the vehicle.
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Old 17th January 2015, 11:36   #135
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Default Re: Insurance Renewal -- query

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
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