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Old 18th January 2012, 18:08   #1756
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Originally Posted by noopster View Post
I renewed my Vento's insurance today and the premium was incredibly HIGHER than what I paid last year. Argued a lot with my advisor that it didn't make sens, since WDV is less *and* I am getting NCB. But she says the Royal Sundaram guys gave 50% discount on the basic rate last year which they are ot giving this year since Vento's premiums across the board have increased.

Sounded like a fishy explanation but my insurance expires tomorrow so went ahead and anyway last year's amount was really low (19K for a 9.21 lac invoiced car). But would like to know what the real explanation is!
Noopster,
I think it's ok. Last year I paid around 24K for my Vento TDI with Allianze. This year after much haggling settled in for around 18K. Used the advice of folks in TBhp and got quotes from rival providers and used it to bargain.

Cheers!
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Old 19th January 2012, 08:20   #1757
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Quote:
Originally Posted by noopster View Post
Sounded like a fishy explanation but my insurance expires tomorrow so went ahead and anyway last year's amount was really low (19K for a 9.21 lac invoiced car). But would like to know what the real explanation is!
Anoop,

The OD premiums are normally goverened by the Insurance companies whereas TPL is normally fixed by IRDA which was increased last year by 250/-. So the only increase which the Insurance co can do is in the Own Damage. When I was renewing my Fiesta Insurance last year I too faced the same hurdle and that too with Royal Sundaram. They would not reduce the premium at all although I had the NCB the premium was till high. Scoured the market and got a better deal with Future, simply dumped RS and moved on. The difference between RS and Future quote was approx 3K. Future being relatively new was offering the max discount, hence jumped to it.
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Old 19th January 2012, 12:10   #1758
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by noopster View Post
I renewed my Vento's insurance today and the premium was incredibly HIGHER than what I paid last year. Argued a lot with my advisor that it didn't make sens, since WDV is less *and* I am getting NCB. But she says the Royal Sundaram guys gave 50% discount on the basic rate last year which they are ot giving this year since Vento's premiums across the board have increased.

Sounded like a fishy explanation but my insurance expires tomorrow so went ahead and anyway last year's amount was really low (19K for a 9.21 lac invoiced car). But would like to know what the real explanation is!
What was the IDV for this year and how much was the premium you paid?
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Old 21st January 2012, 23:21   #1759
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Switched my I20 magna insurance to TATA AIG with a reduction of 10% IDV is 4,20,000.
Premium paid 13,200. Add ons are return to invoice, 0% deprication, key replacement etc. Am I paying too much??
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Old 27th January 2012, 22:43   #1760
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Originally Posted by rjvora_2000 View Post
Hello every one,

Since long time (May be a month) I was thinking to start this trend. Finally hear I am replying to all your insurance query and claim information.
I have a 2005 model Honda CRV with IDV of Rs 600000.00.

The insurance expires on 01 Mar 2012.

For next year I plan to take normal plain motor insurance.

Now, If I have an accident and suffer a loss of Rs 100000

metal - 50000
glass - 20000
plastic - 10000
fibre - 10000
labour - 10000

What amount will be reimbursed to me?

What can I do to increase this reimbursement amount?

Please may I request you to give one or two examples.
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Old 27th January 2012, 23:52   #1761
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I own a 5 yr old car. Now I am planning to buy another preowned car. How can I make best use of first car to reduce insurance premium?
The car will come with an existing policy. How can I maximise the NCB during subsequent renewal?

Rgds.
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Old 28th January 2012, 09:36   #1762
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Default Re: Automobile Insurance - Ask me

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Originally Posted by skdking View Post
I have a 2005 model Honda CRV with IDV of Rs 600000.00.
I correct myself. I do not HAVE the CRV but am buying a used one soon.

Rest all details remain the same.

I had asked this question as : -

I own a Maruti 800 at present.

I have never claimed insurance till now as I have got all denting or other minor repairs done myself.

So I am not aware of the intricacies of claiming insurance.

However CRV is a premium car and the repair bills will be heavy.

I have to get a new policy for the CRV from 01 Mar 2012 for IDV of Rs.600,000.

Now, If I have an accident and suffer a loss of Rs 100000 as given below

metal - 50000
glass - 20000
plastic - 10000
fibre - 10000
labour - 10000

What amount will be reimbursed to me?

What can I do to increase this reimbursement amount?

Please may I request you to give one or two examples.
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Old 2nd February 2012, 20:29   #1763
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I own a Hyundai I10 1.2 Kappa Sportz purchased in Feb 2009. The insurance has now come up for renewal.From the first day it was insured with Cholamandalam MF Insurance Co. I got a quote for Rs7154 for renewal premium (comprehensive) with Bank Loan. This they after considering my NCB of 35%.

Got a quote from ICICI Lombard today for Rs5629 a difference of around Rs1500. I sought details from Cholamandalam about this diff.

I request your advice as to how to proceed. I have never in my life put any insurance claim (touch wood) in the past 35 years of my driving. The insurance is due for renewal on 10th feb.
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Old 3rd February 2012, 06:45   #1764
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Quote:
Originally Posted by gururaj r View Post
I own a Hyundai I10 1.2 Kappa Sportz purchased in Feb 2009. The insurance has now come up for renewal.From the first day it was insured with Cholamandalam MF Insurance Co. I got a quote for Rs7154 for renewal premium (comprehensive) with Bank Loan. This they after considering my NCB of 35%.

Got a quote from ICICI Lombard today for Rs5629 a difference of around Rs1500. I sought details from Cholamandalam about this diff.
Please get the break up of the Premium from both the companies. Typically the IDV (Insured Declared Value) by both the companies would be different. This means ICICI would have valued your car at 3 lacs where as Chola would have valued at 4 lacs.
Also check for the add-on covers, higher premium could also be because of covers like PA cover to unnamed passengers . This cover alone would increase the premium by Rs500.

Quote:
Originally Posted by sindabad.sailor View Post
I own a 5 yr old car. Now I am planning to buy another preowned car. How can I make best use of first car to reduce insurance premium?
The car will come with an existing policy. How can I maximise the NCB during subsequent renewal?

Rgds.
When you sell the first car get an NCB reserving letter from the insurance company. Use this to get the NCB transferred to your new car on subsequent renewal.


Note from the Team-BHP Support Team: Please use the "edit" button if posting within 30 minutes of the first post, instead of creating another back-to-back post.

Also use "Multi Quote" option for quoting Multiple posts.

Last edited by noopster : 3rd February 2012 at 12:24.
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Old 3rd February 2012, 10:13   #1765
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Default Re: Automobile Insurance - Ask me

A few questions
1. Can anyone share their experience with TATA AIG for claims and settlement? My car insurance expires coming month and last year I had bought insurance from their call centre. I had no claims so it all went hassle free however I am thinking shall I renew with them again
2. Is it a good idea to buy insurance from call centre directly or better would be to buy from some dealer, I mean will I face hassles in terms of claims if bought from Call centre.
3. Mine is a 2009 Honda City SMT. Renewed policy IDV they stated to be 5.23L only i.e. 15% discounted from previous year. Isn’t it too low for a 2009 car? Premium is 8600 (30% discount from company + 35% NCB) odd.
4. They do have an option of increasing IDV to 5.80L with premium 9400 odd. Does it make sense to increase IDV, they do claim that in case of TCL they are committed to pay entire IDV.
5. Any other Insurance company recommended for hassle free claim? Especially for Honda.
6. Arya Honda in Mumbai does offer a special feature to make your existing policy to a 0 Depreciation with a premium of 2K extra. This is a cover over and above your Insurance, however restricted to max 2 claims in a year. This offer is by Arya Honda and not part of policy. Is this worth taking? Any reviews?

Last edited by mailmishra : 3rd February 2012 at 10:14. Reason: remove HTML formatting
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Old 3rd February 2012, 12:31   #1766
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by gururaj r View Post
I own a Hyundai I10 1.2 Kappa Sportz purchased in Feb 2009. The insurance has now come up for renewal.From the first day it was insured with Cholamandalam MF Insurance Co. I got a quote for Rs7154 for renewal premium (comprehensive) with Bank Loan. This they after considering my NCB of 35%.

Got a quote from ICICI Lombard today for Rs5629 a difference of around Rs1500. I sought details from Cholamandalam about this diff.

I request your advice as to how to proceed. I have never in my life put any insurance claim (touch wood) in the past 35 years of my driving. The insurance is due for renewal on 10th feb.
As Marlon said, get the breakup. ICICI quote must be from call center or direct team, hence such a low premium. Check for IDV and PA for passengers, small thing but very important.

Quote:
Originally Posted by mailmishra View Post
A few questions
1. Can anyone share their experience with TATA AIG for claims and settlement? My car insurance expires coming month and last year I had bought insurance from their call centre. I had no claims so it all went hassle free however I am thinking shall I renew with them again
2. Is it a good idea to buy insurance from call centre directly or better would be to buy from some dealer, I mean will I face hassles in terms of claims if bought from Call centre.
3. Mine is a 2009 Honda City SMT. Renewed policy IDV they stated to be 5.23L only i.e. 15% discounted from previous year. Isnít it too low for a 2009 car? Premium is 8600 (30% discount from company + 35% NCB) odd.
4. They do have an option of increasing IDV to 5.80L with premium 9400 odd. Does it make sense to increase IDV, they do claim that in case of TCL they are committed to pay entire IDV.
5. Any other Insurance company recommended for hassle free claim? Especially for Honda.
6. Arya Honda in Mumbai does offer a special feature to make your existing policy to a 0 Depreciation with a premium of 2K extra. This is a cover over and above your Insurance, however restricted to max 2 claims in a year. This offer is by Arya Honda and not part of policy. Is this worth taking? Any reviews?
1. Tata AIG is good and stable company. They'll never create unnecessary problems.

2. If you okay buying the policy through call center then go ahead, rather than to buy it from some dealer. Dealer is not going to provide you special service at the time of claim.

3. What was the value when you bought the car. I feel every year there should 10-12% depreciation, not more than that. Calculate according to that and decide.

4. Correct. Higher IDV has this only advantage, helps a lot at the time of claim.

5. There are many like Bajaj Allianz, Future Generali.

6. Since its not part of the policy, I may think twice before signing it. Not heard any reviews about it yet.
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Old 3rd February 2012, 13:45   #1767
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Quote:
Originally Posted by gururaj r View Post

Got a quote from ICICI Lombard today for Rs5629 a difference of around Rs1500. I sought details from Cholamandalam about this diff.
.
Please also check if Voluntary Deductibles is added by ICICI. This could be also a discounting factor used by companies to sell policies to unsuspecting persons
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Old 3rd February 2012, 20:34   #1768
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Quote:
Originally Posted by Marlon View Post
Please also check if Voluntary Deductibles is added by ICICI. This could be also a discounting factor used by companies to sell policies to unsuspecting persons
just got a quote from ICiCI Lombard. The same is attached. Pl let me have your opinion. or you think I should go for another company?
Chola mf gave a quote with idv 288236. ncb eligibility 35%. COMPREHENSIVE ONE.
Attached Files
File Type: pdf ins.pdf (92.0 KB, 4549 views)

Last edited by gururaj r : 3rd February 2012 at 20:35.
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Old 4th February 2012, 09:03   #1769
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by gururaj r View Post
just got a quote from ICiCI Lombard. The same is attached. Pl let me have your opinion. or you think I should go for another company?
Chola mf gave a quote with idv 288236. ncb eligibility 35%. COMPREHENSIVE ONE.
Gururaj,

The difference in IDV is approx Rs 3500 only. ICICI quote according to you is Rs 1500 less than Chola. I think the ICICI quote is good. There are no add on covers or voluntary deductible.
If you want to cover driver or unnamed passengers ask ICICI to add the additional covers else this should be sufficient to go ahead.
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Old 4th February 2012, 19:54   #1770
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Default Re: Automobile Insurance - Ask me

I have a query here.
I bought a SS80 and got it transferred to my name. The TP Insurance is valid till April 25.
Can I change the name for the remaining period till that day or is it necessary to take a fresh TP or can I wait till that day by keeping it in the name of the previous owner?
Look forward to a suggestion and advice please.
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