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Old 14th October 2011, 12:33   #1651
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Default Re: Automobile Insurance - Ask me

Hi guys
Anyone here can tell me what is the engine capacity based slab for the car insurance premium? I have a 1 year old Fiesta 1.6 which is up for insurance renewal and my agent first sent me a quote for a 1.4 TDCi (Which was for about 8.5K). I pointed out the error and have now got a mail saying that I will need to pay an additional ~2.5K. The agent says it is because of the difference in engine capacity. (1399 cc for the diesel and 1596 cc for the petrol).

I tried searching the forum for this but wasn't able to find any.
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Old 14th October 2011, 18:57   #1652
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Default Re: Automobile Insurance - Ask me

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Originally Posted by toothless View Post
Hi guys
Anyone here can tell me what is the engine capacity based slab for the car insurance premium? I have a 1 year old Fiesta 1.6 which is up for insurance renewal and my agent first sent me a quote for a 1.4 TDCi (Which was for about 8.5K). I pointed out the error and have now got a mail saying that I will need to pay an additional ~2.5K. The agent says it is because of the difference in engine capacity. (1399 cc for the diesel and 1596 cc for the petrol).

I tried searching the forum for this but wasn't able to find any.
the first slab is at 1.5 L (1500cc). i know this because i have experienced this first hand with bajaj allianz when they didnt know that honda had a car less than 1.5 L engine capacity in the jazz.
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Old 17th October 2011, 14:31   #1653
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I had an accident few days ago when a Meru cab hit my Honda City from behind. At the time I was waiting for the on-coming traffic to clear so that I could take a right into my apartment's main gate.
The damage is extensive. Dakshin Honda quoted approximately 1L for repairs. Since the car is 10 years old already the amount that I would get if I claim my insurance is at most 50K. So I went ahead and filed a FIR against the other car (I had fortunately taken down the number).
After the FIR car was left at the traffic police station and today I had the damages inspected by the RTO vehicle inspector. Afterwards the car was released and it's now with me.
I did all this so that I can claim the damages from the Meru cab's TP insurance policy.
I have following questions now:

1. What would be the process now to claim damages the Meru cab's TP insurer?
2. Can I get my car repaired now at my own expense and claim to bills later?
3. If the court in involved in the claim process and somehow I loose the case can I claim the damages from my own policy?

Thanks for your help in advance.
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Old 17th October 2011, 14:39   #1654
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by toothless View Post
Hi guys
Anyone here can tell me what is the engine capacity based slab for the car insurance premium? I have a 1 year old Fiesta 1.6 which is up for insurance renewal and my agent first sent me a quote for a 1.4 TDCi (Which was for about 8.5K). I pointed out the error and have now got a mail saying that I will need to pay an additional ~2.5K. The agent says it is because of the difference in engine capacity. (1399 cc for the diesel and 1596 cc for the petrol).

I tried searching the forum for this but wasn't able to find any.

This sounds like a scam, now, to me.

Hear me out.
These guys give a quote based on the smaller engine.
(Now, are they so unaccustomed to a 1.6 fiesta, that they just do it out of habit?)

Once youre in the tail end of finalizing the discussions, they suddenly say, oho, we quoted for 1.4, but yours is 1.6.
and then show you some spreadsheet, saying, "sir, see, this is the slab.I am sorry, i just didnt realize."

Now, you are so far gone with this provider, you say what the heck, its just 2-2.5 k extra, who wants to go through the whole exercise again.

I am not saying this happened to you, but guess what, this is what happened to me.
I thought maybe he really was a bit slow, and overlooked, but now i see the exact same thing in your expereince, it seems like a "chepi lagana" practice.
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Old 17th October 2011, 14:51   #1655
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Originally Posted by mayankk View Post
This sounds like a scam, now, to me.

Hear me out.
These guys give a quote based on the smaller engine.
(Now, are they so unaccustomed to a 1.6 fiesta, that they just do it out of habit?)

Once youre in the tail end of finalizing the discussions, they suddenly say, oho, we quoted for 1.4, but yours is 1.6.
and then show you some spreadsheet, saying, "sir, see, this is the slab.I am sorry, i just didnt realize."

Now, you are so far gone with this provider, you say what the heck, its just 2-2.5 k extra, who wants to go through the whole exercise again.

I am not saying this happened to you, but guess what, this is what happened to me.
I thought maybe he really was a bit slow, and overlooked, but now i see the exact same thing in your expereince, it seems like a "chepi lagana" practice.
It may be possible what you are saying is true. For my case though it is less likely. I opted for the Company lease thing when I got this car. The car leasing agency has a tie-up with a insurer which offers rates considerably below market rates. I verified the rates with some other insurers and they all said it will cost me about 15K with them.
Also, the first year insurance was for a 1.4 lts diesel. I did not notice it then and was fortunate not to have any need to call up my insurer. I noticed it this time when i was getting it renewed and I brought it to the notice of the car leasing agency.
Anyway, i will have to pay the additional 2.5K since i have already paid the balance amount. Next year, i will be more careful from the start.
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Old 22nd October 2011, 07:47   #1656
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Default Re: Automobile Insurance - Ask me

Hi recently i renewed my car insurance. When i received the copy i see that my name has been misspelled, though the car details are proper. Will this issue hinder claiming it?
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Old 22nd October 2011, 08:26   #1657
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Default Re: Automobile Insurance - Ask me

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Originally Posted by falcon009 View Post
Hi recently i renewed my car insurance. When i received the copy i see that my name has been misspelled, though the car details are proper. Will this issue hinder claiming it?
Yes! Essentially, the owner details in the car RC and Insurance don't match. Will be a big problem if you've to claim Insurance.

Have it rectified asap!

Btw, did you renew the Insurance with the same provider? Not that it changes anything, the system should've have entered your name correctly.
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Old 22nd October 2011, 12:57   #1658
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Default Re: Automobile Insurance - Ask me

Guys,

Help me validate this.

My Jazz insurance is up for renewal in 1st week of Dec.
Have been getting calls from Honda saying that they are offering 3K worth of service coupons if I commit to a renewal today.

Which is ok, but I need your help to check these quotes, are they good or bad:

vehicle IDV = 6.4 (same as last year)

Tata AIG - 14.1K (+ 6.0K for bumper-to-bumper)
ICICI Lombard - 15.0K (+3.6K for bumper-to-bumper)
Bajaj Allnz - 13.2K (+ 6.2K for bumper-to-bumper)

Above is after some 20% NCB & additional some discounts.

Thanks
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Old 22nd October 2011, 13:01   #1659
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Default Re: Automobile Insurance - Ask me

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Originally Posted by lazy View Post
vehicle IDV = 6.4 (same as last year)
IDV cannot be the same for 2 consecutive years!

There has to be some catch.
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Old 26th October 2011, 11:45   #1660
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Default Re: Automobile Insurance - Ask me

Is there a IRDA regulation which specifies the depreciation on the value of car?

My Insurance is up for renewal and the IDV quoted by Bajaj Allianz is 4,72,000/-.
While taking a quote from ICICI Lombard and HDFC Ergo, the IDV was mentioned as 4,03,290/-. When I enquired about the lesser IDV, they told it was as per IRDA and any higher IDV would be illegal. Also they informed me that it would be very difficult for me make a claim when the IDV is as not as per IRDA rules.

Can somebody throw some light on this please? Also how is HDFC Ergo compared to Bajaj Allianz?
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Old 26th October 2011, 11:50   #1661
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AFAIK there has to be a minimum 10% dep in IDV every year. That leaves the max IDV around 4.2L
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Old 27th October 2011, 13:30   #1662
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Default Re: Automobile Insurance - Ask me

My Ritz VDi (Dec, 2009) is up for renewal of insurance, got three different quotes -

1. ICICI Lombard (Through Maruti Dealer) - IDV: 347,959; Premium: 7,067/-; 35% NCB (when I checked directly to ICICI Lombard to renew this policy online.. showing policy no is wrong)

2. ICICI Lombard (online) - IDV: 441,011; Premium: 10,420

3. Royal Sundaram (online) - IDV: 439,200; Premium: 7,732

Do you think I should go with Royal Sundaram. I do not understand why the policy no. is not matching when entering in the ICICI Lombard site and the low IDV quoted by the Maruti Dealer.
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Old 29th October 2011, 11:24   #1663
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Originally Posted by gaddiwale View Post
My Ritz VDi (Dec, 2009) is up for renewal of insurance, got three different quotes -

1. ICICI Lombard (Through Maruti Dealer) - IDV: 347,959; Premium: 7,067/-; 35% NCB (when I checked directly to ICICI Lombard to renew this policy online.. showing policy no is wrong)

2. ICICI Lombard (online) - IDV: 441,011; Premium: 10,420

3. Royal Sundaram (online) - IDV: 439,200; Premium: 7,732

Do you think I should go with Royal Sundaram. I do not understand why the policy no. is not matching when entering in the ICICI Lombard site and the low IDV quoted by the Maruti Dealer.
Hello. Can any body help me out here!
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Old 29th October 2011, 11:50   #1664
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Quote:
Originally Posted by gaddiwale
My Ritz VDi (Dec, 2009) is up for renewal of insurance, got three different quotes -

1. ICICI Lombard (Through Maruti Dealer) - IDV: 347,959; Premium: 7,067/-; 35% NCB (when I checked directly to ICICI Lombard to renew this policy online.. showing policy no is wrong)

2. ICICI Lombard (online) - IDV: 441,011; Premium: 10,420

3. Royal Sundaram (online) - IDV: 439,200; Premium: 7,732

Do you think I should go with Royal Sundaram. I do not understand why the policy no. is not matching when entering in the ICICI Lombard site and the low IDV quoted by the Maruti Dealer.
Should be fine to go to Royal Sundaram. You should also check Bajaj Allianz & HDFC Ergo. And one thing, there should be a min 10% decrease in IDV value from last year's value, do check that while buying online.
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Old 29th October 2011, 15:20   #1665
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by MCR View Post
Is there a IRDA regulation which specifies the depreciation on the value of car?

My Insurance is up for renewal and the IDV quoted by Bajaj Allianz is 4,72,000/-.
While taking a quote from ICICI Lombard and HDFC Ergo, the IDV was mentioned as 4,03,290/-. When I enquired about the lesser IDV, they told it was as per IRDA and any higher IDV would be illegal. Also they informed me that it would be very difficult for me make a claim when the IDV is as not as per IRDA rules.

Can somebody throw some light on this please? Also how is HDFC Ergo compared to Bajaj Allianz?
Renewed the Insurance with Tata AIG and got the Silver pack. A special premium rate was offered which also covers the car bumper to bumper. The IDV of the vehicle is Rs.4,16,xxx/- and the premium is Rs.98xx/-.
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