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Old 29th May 2011, 08:27   #1486
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Default Re: Automobile Insurance - Ask me

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Originally Posted by noopster View Post
Is it possible to change my insurance policy from regular to "zero dep" midway by paying the additional premium? I have a Jan-registered Vento which is insured by Royal Sundaram- no claims yet. Reason is I am worried about the increasingly frequent rear-endings reported in Pune and want to be absutely secure.
I see no reason why not, especially when you are opting for a costlier policy. In the worst case, you can certainly cancel the current policy and renew with other providers and get the pro-rated amount refunded to you. Btw, do check with your a.s.s which insurance provider they have a tie-up with. Makes the claim process hassle free.
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Old 1st June 2011, 13:46   #1487
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Default Re: Automobile Insurance - Ask me

I have bought a preowned Jazz which has an insurance policy (Future Generali) expiring/ up for renewal in August 2011. This policy is in the name of the first owner, while the car has been transferred to my name.

I would like to get some work done (scratch/ dent removal) for which I need to file a claim.
Is it possible for me to file a claim while the policy is still in the name of the first owner? Or do I need to first get it changed to my name at Future Generali before making the claim?
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Old 1st June 2011, 16:37   #1488
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Quote:
Originally Posted by selfdrive View Post
I have bought a preowned Jazz which has an insurance policy (Future Generali) expiring/ up for renewal in August 2011. This policy is in the name of the first owner, while the car has been transferred to my name.

I would like to get some work done (scratch/ dent removal) for which I need to file a claim.
Is it possible for me to file a claim while the policy is still in the name of the first owner? Or do I need to first get it changed to my name at Future Generali before making the claim?
You need to get the name changed on the Insurance document before you can make a claim. But bear in mind if you claim insurance in the current period, you will have to bear the increase in insurance amount during renewal. Better renew it first and then claim. Alternatively ask Future Generali if they can cancel the earlier Insurance and issue a new one to you so that you can go ahead for the claim.
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Old 1st June 2011, 17:03   #1489
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post
You need to get the name changed on the Insurance document before you can make a claim. But bear in mind if you claim insurance in the current period, you will have to bear the increase in insurance amount during renewal. Better renew it first and then claim. Alternatively ask Future Generali if they can cancel the earlier Insurance and issue a new one to you so that you can go ahead for the claim.
In this case when I get a new policy issued, can I claim/ transfer the NCB on the previous policy? I hope this will be possible as the car is the same.

Also:
- is it necessary to keep the IDV the same or this is defined by the insurance provider?
- can I change the policy to a zero depreciation policy on electrical parts etc?
I appreciate your advise in this topic
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Old 1st June 2011, 17:08   #1490
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by selfdrive View Post
In this case when I get a new policy issued, can I claim/ transfer the NCB on the previous policy? I hope this will be possible as the car is the same.

Also:
- is it necessary to keep the IDV the same or this is defined by the insurance provider?
- can I change the policy to a zero depreciation policy on electrical parts etc?
I appreciate your advise in this topic

NCB stays with ex-owner, who can use it for his policy on his next vehicle, me thinks

IDVs differ with insurers. i found a difference of about a lac in 3 quotes.
youre looking to keep the premium low, hence lower IDV?

Last edited by mayankk : 1st June 2011 at 17:11.
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Old 1st June 2011, 17:39   #1491
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Smile Re: Automobile Insurance - Ask me

Quote:
Originally Posted by selfdrive View Post
In this case when I get a new policy issued, can I claim/ transfer the NCB on the previous policy? I hope this will be possible as the car is the same.

The NCB stays with the owner and not with the car. If you have an NCB of your previous car you may use it.

Also:
- is it necessary to keep the IDV the same or this is defined by the insurance provider?
That depends on the Insurer according to their calculations. But note that the IDV of the new Insurance policy would be different from the current policy period most probably lesser. So if the Insurer decides to issue a new policy for you cancelling the previous policy the IDV will be calculated same as it would be had you renewed it in August.

- can I change the policy to a zero depreciation policy on electrical parts etc?
If the Insurer has one such options and if the car is not more than three years old.

I appreciate your advise in this topic

Please find my replies as above. Best would be get hold of Future Generali and find out more (hidden costs too) or wait till Aug and then start searching for better Insurance quotes.
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Old 1st June 2011, 17:57   #1492
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post
Please find my replies as above. Best would be get hold of Future Generali and find out more (hidden costs too) or wait till Aug and then start searching for better Insurance quotes.
Thanks again, now I have another doubt.
If I start looking for another quote, will they not visually evaluate the vehicle? The dent/ scratches are very visible, in this case is there a chance the new insurer will not sanction the claim?
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Old 1st June 2011, 18:03   #1493
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Smile Re: Automobile Insurance - Ask me

Quote:
Originally Posted by selfdrive View Post
Thanks again, now I have another doubt.
If I start looking for another quote, will they not visually evaluate the vehicle? The dent/ scratches are very visible, in this case is there a chance the new insurer will not sanction the claim?
I really dont know when the visual inspection is normally done by the Insurers. Maybe BHP experts can comment on this. BTW how old is the car you are referring to?

If you decide on renewing in Aug, then you can visit the websites of the Insurers, get a quotation online and read through their policy wordings if a visual inpection is needed before one can buy a policy.
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Old 1st June 2011, 20:17   #1494
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Default Re: Automobile Insurance - Ask me

>>>

Apologies for hijacking the thread, I have a peculiar insurance problem and require a quick remedy.

I had a minor scrape (by another car) and I had raised a claim which was processed by my insurer without any ado. Now my policy is up for renewal and I find to my disbelief that the insurer has hiked up the policy amount to a figure higher than what I paid for during purchase of my new car.

Apparently the logic is, I had raised a claim ( high in absolute terms as accident repair costs are high for this car but small in the context of the value/IDV of the car); also in year 1 of my car's life, I had raised a claim ( which was insured with another insurer)- here again the culprit was a tailgating vehicle which had rear ended me at a traffic light.

I am unable to understand the logic of raising the policy renewal amount higher than the original policy amount, with the (to me dubious) logic of with two claims in two years ( one of them being small).

Any means of redress from the experts here will help me negotiate a better/fair deal.

Regards

issigonis
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Old 1st June 2011, 21:39   #1495
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by selfdrive View Post
Thanks again, now I have another doubt.
If I start looking for another quote, will they not visually evaluate the vehicle? The dent/ scratches are very visible, in this case is there a chance the new insurer will not sanction the claim?
yes, there will be a visual inspection, VIN copied.
anything present before the onboarding of new insurer will not be covered.
you gotta ask another question now.
if the RC has been tranferred to you, will the revious owners Insurance cover still be valid for a claim, and will he be willing to allow you to file a claim.

I really think you are going to face some expense.

I'd suggest once you collect a few scratches/bumps post getting a new insurance, get the whole lot done later, and try to wangle with your bodyshop about the old scratch.


Quote:
Originally Posted by ghodlur View Post
I really dont know when the visual inspection is normally done by the Insurers. Maybe BHP experts can comment on this. BTW how old is the car you are referring to?

If you decide on renewing in Aug, then you can visit the websites of the Insurers, get a quotation online and read through their policy wordings if a visual inpection is needed before one can buy a policy.
like i said, it WILL be done.
if you buy it online, they'll send a guy home with a camera to fill out the report.


I know this, cos i just replaced my windscreen under insurance.
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Old 2nd June 2011, 11:27   #1496
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by mayankk View Post
yes, there will be a visual inspection, VIN copied.
anything present before the onboarding of new insurer will not be covered.
you gotta ask another question now.
if the RC has been tranferred to you, will the revious owners Insurance cover still be valid for a claim, and will he be willing to allow you to file a claim.
I really think you are going to face some expense.
I'd suggest once you collect a few scratches/bumps post getting a new insurance, get the whole lot done later, and try to wangle with your bodyshop about the old scratch.
well, the owner does not live in India. I will try to check with the used car dealer if he can arrange this or talk to the owner if this is ok.
If not, it does look like an expensive proposition for me

I was hoping they would not check the car when they transfer the policy to my name.
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Old 2nd June 2011, 21:34   #1497
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Thumbs down Re: Automobile Insurance - Ask me

Guys, I have a query on insurance for my bike.

My bike is a 2001 Suzuki Fiero and currently I have an insurance policy from Reliance General Insurance which expires on 11th of June, 2011.

In the current policy, the IDV was given as Rs.12,000 and the final premium came upto Rs.482 after discounting the NCB of 35%. Today, I went in to renew the policy. I enquired with Reliance Insurance and Bajaj Allianz and here are their quotes.

Reliance: IDV-11000, NCB-45%, Premium-540

Bajaj Allianz: IDV-14800, NCB-45%, Premium-633.

I also took an online quote from ICICI Lombard: IDV-17920, NCB-45%, Premium-775

My question is this. Comparing all the three quotes, I find Reliance has offered the lowest IDV, ICICI has the highest and Bajaj is in between the two. How is it that the IDV differs so much across the three insurance providers?

I want to know which offer is the better one. I have had a very bad experience with Reliance while renewing the policy last year, so I'm least inclined towards them. Please suggest what I should do.

Thanks

Last edited by addyhemmige : 2nd June 2011 at 21:35.
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Old 3rd June 2011, 14:00   #1498
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by addyhemmige View Post
Guys, I have a query on insurance for my bike.

My bike is a 2001 Suzuki Fiero and currently I have an insurance policy from Reliance General .......#(REF PREV POST)#..........s them. Please suggest what I should do.

Thanks
Bajaj seems to be the safest.

you had a bad exp with reliance.
ICICI's stories abound.
I have had good, so far, exp with BA.
So, just pointing out.

Last edited by mayankk : 3rd June 2011 at 14:01.
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Old 4th June 2011, 09:56   #1499
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Default Re: Automobile Insurance - Ask me

What is the insurance premium of different companies for my A Star VXI model, which is valued at 2 lakh 97 k with additional personal accident insurance ? any idea guys renewal is due for 2010 june
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Old 5th June 2011, 12:41   #1500
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by addyhemmige View Post
Guys, I have a query on insurance for my bike.

My bike is a 2001 Suzuki Fiero and currently I have an insurance policy from Reliance General Insurance which expires on 11th of June, 2011.

In the current policy, the IDV was given as Rs.12,000 and the final premium came upto Rs.482 after discounting the NCB of 35%. Today, I went in to renew the policy. I enquired with Reliance Insurance and Bajaj Allianz and here are their quotes.

Reliance: IDV-11000, NCB-45%, Premium-540

Bajaj Allianz: IDV-14800, NCB-45%, Premium-633.

I also took an online quote from ICICI Lombard: IDV-17920, NCB-45%, Premium-775

My question is this. Comparing all the three quotes, I find Reliance has offered the lowest IDV, ICICI has the highest and Bajaj is in between the two. How is it that the IDV differs so much across the three insurance providers?

I want to know which offer is the better one. I have had a very bad experience with Reliance while renewing the policy last year, so I'm least inclined towards them. Please suggest what I should do.

Thanks
I have renewed my insurance twice with ICICI Lombard and I have had a good experience with them so far.
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