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Old 23rd December 2011, 10:20   #1726
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Default Re: Automobile Insurance - Ask me

We own a 2006 Hyundai Accent CRDi. Last year we paid a premium of 8053/- towards comprehensive insurance by TATA AIG. Its renewal time for us and sought online quote by Bajaj Allianz which gave a premium of 6050/-. There was an option called "Avail discount by telling us more about you". After providing some info about me like "martial status, age at which DL was issued, no. of vehicles owned, etc.", I got a further discount of around 450/- and now the premium quoted is 5558/- with voluntary deductible amount of 0/-.

The premium was less than expected and the shocking thing was IDV mentioned!! It was around 3,50,000/- for last year given by TATA AIG but Bajaj Allianz gave 3,30,000/- for this year which is way less than 10% of depreciation. Sounds nice but I would like to know if there are "traps" or "pit falls" which might prove a bit costly later. Or is it so that Bajaj Allianz calculates the depreciation in a different way!!

NOTE: the IDV mentioned by TATA AIG was 2,88,000/- and a premium of 6,480/- for renewal with them.
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Old 23rd December 2011, 12:48   #1727
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Quote:
Originally Posted by kkr2k2 View Post
Sounds nice but I would like to know if there are "traps" or "pit falls" which might prove a bit costly later. Or is it so that Bajaj Allianz calculates the depreciation in a different way!!
I dont think this is a trap, its typical marketing tactics. Also the database of the BA must not have been updated with current prices of vehicle to calculate the present IDV of your model car. Hence the higher IDV. In any case this would be of use only in case of Total loss.
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Old 27th December 2011, 11:24   #1728
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Default Hyundai Insurance

I got my car's insurance renewed this weekend.

I went to my Hyundai agency to renew the United India Insurance policy for my i10. But the insurance lady at the agency suggested Hyundai insurance (provided by HDFC ergo). I decided to go for the same.

Anybody has tried this Hyundai insurance ? Any feedback.

Rohan
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Old 1st January 2012, 09:34   #1729
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Default Re: Automobile Insurance - Ask me

I have a Fiat Punto 90 hp which I bought in Feb 2011 for an on road price of 7.75 lakhs. Now I got a call from the dealer, Wasan Motors, that the insurance is due for renewal. I had asked them to mail me the details of the premium to be paid, here are the details (i have not made any claim yet) -

Bharti AXA

IDV - 6,01,024
Total own damage premium - 19,732
Less: No claim bonus - 3946
Less: Special discount - 4736
Add: Third party premium - 1105
Add: Service tax - 1252

Net premium payable - 13,407

1) Is the above premium justified?
2) Is Bharti AXA good?
3) I confirmed with them that I can avail cashless transaction with all/any FIAT service centres, if I go with them.
4) I dont intend to take zero dep insurance as my running is very limited.
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Old 2nd January 2012, 08:38   #1730
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Quote:
Originally Posted by raj_5004 View Post
IAdd: Third party premium - 1105
You need to check this one again with Wasan/Bharati Axa as it seems to very less. The min TP liability premium is 2750/- with any riders. Add the PA cover for owner - 100/- and unnamed passengers 2L each (if reqd) - 500/-. So the total TP liability premium should be 3.3K. How is it that you are being charged less. Investigate.

Alternatively try online quotes to get a better deal. If you still want to stick to Wasan then negotiate with them or else get the Insurance renewal done on your own.
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Old 2nd January 2012, 10:58   #1731
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ghodlur View Post
You need to check this one again with Wasan/Bharati Axa as it seems to very less. The min TP liability premium is 2750/- with any riders. Add the PA cover for owner - 100/- and unnamed passengers 2L each (if reqd) - 500/-. So the total TP liability premium should be 3.3K. How is it that you are being charged less. Investigate.
It has been calculated as follows -

Basic third party charge - 880
Personal Accident Cover for 5 unnamed passengers - 100
Personal Accident for Owner Driver - 100
Legal Liability for paid driver - 25

Total - 1105

Quote:
Alternatively try online quotes to get a better deal. If you still want to stick to Wasan then negotiate with them or else get the Insurance renewal done on your own.
Online in the sense? Through their websites?

So you mean it can be further negotiated?
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Old 2nd January 2012, 11:08   #1732
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Quote:
Basic third party charge - 880
My mistake, maybe for less than 1500 cc this could be the price. I would suggest to increase the PA cover for unnamed passengers from present 50K to 2L which would increase the premium to 500/-.

Quote:
Online in the sense? Through their websites?
So you mean it can be further negotiated?
Yes, try to get an approx quote from online Insuance websites like policy bazaar. Then visit each Insurance co website and try to get a quote. Once you know the range of premium cost, you can then negotiate with Wasan.
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Old 2nd January 2012, 11:18   #1733
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Default Re: Automobile Insurance - Ask me

I am getting my new Swift delivered next week and I have paid the total invoice amount including insurance from the dealer fixed insurance company. Subsequently I have sold my old car which has 50% no-claim bonus available from Tata-AIG. Now since I have already paid for the new insurance, how can I make use of this no-claim bonus facility and what is the procedure for the same? Thanks in advance.
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Old 2nd January 2012, 11:36   #1734
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Default Re: Automobile Insurance - Ask me

Just for information:

Couple of months back, I have renewed my car insurance with National Insurance and I have paid premium as under:

IDV - Rs.5 Lakhs

(A)
Basic Premium - Rs.11,200
Less NCB 25% - Rs.2,800
Less Discount - Rs.1680 - Gross (A) = Rs.6720

(B)
T.P - Basic - Rs.2750
Other payments - Rs.325. - Gross (B) = Rs.3075

Net Premium - Rs.9795
Service Tax - Rs.1009 = Total paid Rs.10,804/-

Do you think this is reasonable?
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Old 2nd January 2012, 11:54   #1735
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by nairrk View Post
Just for information:

Couple of months back, I have renewed my car insurance with National Insurance and I have paid premium as under:

IDV - Rs.5 Lakhs

(A)
Basic Premium - Rs.11,200
Less NCB 25% - Rs.2,800
Less Discount - Rs.1680 - Gross (A) = Rs.6720

(B)
T.P - Basic - Rs.2750
Other payments - Rs.325. - Gross (B) = Rs.3075

Net Premium - Rs.9795
Service Tax - Rs.1009 = Total paid Rs.10,804/-

Do you think this is reasonable?
Please mention Make, Model and year of the car. Otherwise looks good. Close to 50% additional discount apart from NCB! Looks Good!
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Old 2nd January 2012, 11:59   #1736
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Default Re: Automobile Insurance - Ask me

Ford Fiesta 1.6ZXi, 2009 September.
(Yes, I had to bargain for the Discount of Rs.1680 as initially this was not given to me.)
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Old 9th January 2012, 14:05   #1737
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by thesilentone View Post
I am getting my new Swift delivered next week and I have paid the total invoice amount including insurance from the dealer fixed insurance company. Subsequently I have sold my old car which has 50% no-claim bonus available from Tata-AIG. Now since I have already paid for the new insurance, how can I make use of this no-claim bonus facility and what is the procedure for the same? Thanks in advance.
Sorry for coming across your post so late. You are entitled to get NCB transferred to your new policy. Since you have already paid the amount, you'll have to furnish the details of old policy to Insurance company(Provided Policy holder's name on both policies are same) & claim your refund. You are eligible for NCB & should get refund. Insist if they don't agree & you should get this pretty soon. As NCB you told is 50%, this should be significant amount, a few thousand at least.Do keep posted about outcome & if some help is needed. Congrats for your new wheels. Drive safe.
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Old 9th January 2012, 23:29   #1738
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Default Re: Automobile Insurance - Ask me

Hi!

I am in a mess, with no fault of mine.

I had bought a Ford Figo on 1-1-'11. The insurance would be expiring on 31st Dec '11 so on 29-12-'11, I paid a premium of 12,110 at Priyadarshi Ford, Patna for renewal by bajaj-allianz, because as per them, they cover the Ford bases everywhere, cashless.

Till date, I didn't receive any cover note or renewal papers via mail/courier & to top it up, my sales guy didn't attend my calls.

I sent someone to look it up & to my shock & horror, my insurance wasn't renewed on due date & even as of today, the Car is running w/o insurance. I just have the money receipt to show if something goes wrong.

To top it up, they lost all my photocopied relevant papers & I am currently scanning & mailing them. This is just so unethical that I wish some action to be taken. I am not much perturbed by small incidences, but this incident has left a bitter taste.

Can someone suggest me as to what steps to take? I am planning to mail @Ford after my papers arrive so they won't play any further games.

Thanks
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Old 10th January 2012, 00:11   #1739
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Default Re: Automobile Insurance - Ask me

I am going to buy a Polo 1.6 this week and have received free insurance as a part of the package.

The free insurance is from Bajaj Allianz. The stupidity that VW showroom people did that they just purchased the comprehensive policy for the car already without asking me if I wanted zero dep policy.

Now when I ask them they say I can get a zero dep on next year for renewal

I really don't want to be driving without zero dep insurance for the first year. What are my options now? can I purchase an add-on package of zero-dep over my comprehensive insurance?

Also, I have a old car which has National Insurance. Can I get a NCB discount refund or something from Bajaj Allianze?
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Old 10th January 2012, 08:16   #1740
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Quote:
Originally Posted by Sheel View Post
Hi!

I am in a mess, with no fault of mine.

I had bought a Ford Figo on 1-1-'11. The insurance would be expiring on 31st Dec '11 so on 29-12-'11, I paid a premium of 12,110 at Priyadarshi Ford, Patna for renewal by bajaj-allianz, because as per them, they cover the Ford bases everywhere, cashless.

Till date, I didn't receive any cover note or renewal papers via mail/courier & to top it up, my sales guy didn't attend my calls.

I sent someone to look it up & to my shock & horror, my insurance wasn't renewed on due date & even as of today, the Car is running w/o insurance. I just have the money receipt to show if something goes wrong.

To top it up, they lost all my photocopied relevant papers & I am currently scanning & mailing them. This is just so unethical that I wish some action to be taken. I am not much perturbed by small incidences, but this incident has left a bitter taste.
@Sheel,
What you could do is first stop the cheque payment, go online at Bajaj allianz website and try renewing the Insurance if you have the policy no. If the online thing does not work, call up BA in your city and try to get the policy renewed. In either cases you might have to bear a small overcharge if BA decides to renew. In case BA tries to act smart you can pay stern saying you did not receive the intimation of renewal (I hope you did not get the intimation, right?). If nothing works shift to a new Insurance company which has cashless tie up with Ford dealer in your city.

Also Ford does not have a tie up with any Insurance co, it is the dealer which has the cashless tie up with the Insurance guys. So writing to Ford will not help, of course you can point out the lapses on the part of the Ford dealer in failure for the Ins renewal.
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