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Old 6th February 2012, 09:43   #1771
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by rajeev k View Post
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.

Rajeev,

You need to transfer the Insurance to your name immd. No second questions.
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Old 9th February 2012, 00:36   #1772
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Default Re: Automobile Insurance - Ask me

I have booked a new Figo and it is getting delivered in the next few days.
My question is 'Can one take only Third Party Insurance for a brand new car (and NOT take Comprehensive Insurance)?'

When I asked around, the folks say that one HAS TO take comprehensive insurance for the 1st year at least of a new car. This does not make any sense to me and I can't see the logic. If I am okay with TP only what is the system's problem? (I fully understand that any damage / loss will be mine 100% and I am okay with that).

Many thanks in advance for the inputs.
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Old 9th February 2012, 09:49   #1773
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Default Re: Automobile Insurance - Ask me

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Originally Posted by Musa View Post
I have booked a new Figo and it is getting delivered in the next few days.
My question is 'Can one take only Third Party Insurance for a brand new car (and NOT take Comprehensive Insurance)?'

When I asked around, the folks say that one HAS TO take comprehensive insurance for the 1st year at least of a new car. This does not make any sense to me and I can't see the logic. If I am okay with TP only what is the system's problem? (I fully understand that any damage / loss will be mine 100% and I am okay with that).

Many thanks in advance for the inputs.
Musa,

Technically you can take only a TP Insurance. There is no regulation to stop it.
But if your vehicle is Financed , then the Financier in his interest my demand a comprehensive insurance policy.
Dealers may force a comprehensive insurance policy for the commission amount. There is no commission on a TP insurance.
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Old 9th February 2012, 10:04   #1774
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by Marlon View Post
Musa,

Technically you can take only a TP Insurance. There is no regulation to stop it.
But if your vehicle is Financed , then the Financier in his interest my demand a comprehensive insurance policy.
Dealers may force a comprehensive insurance policy for the commission amount. There is no commission on a TP insurance.

Hi Marlon, Thank you for the input.

Yes, the dealer wants his commission and the financier would like to feel "protected". In my case, the car is fully self financed (no loan) but the dealer said TP is not possible for a new car (which I didn't believe!). It was only when others also said the same thing (including a PSU Insurance guy who flip flopped on the issue) that I wanted to reconfirm.

Thanks again
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Old 14th February 2012, 18:32   #1775
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Default Re: Automobile Insurance - Ask me

I have a one year old figo and my insurance is expiring next month.
Can someone suggest me which insurance company is better -

1. bajaj allianz
2. Royal Sundaram
3. Reliance - they quoted the least which makes me suspicious.
4. oriental
5. icici
6. any other

I fully understand that many insurance companies promise a lot but deliver less.
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Old 14th February 2012, 19:19   #1776
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Default Re: Automobile Insurance - Ask me

Hi Folks,

My friend is buying a new Scorpio and the vehicle will arrive at the dealer yard tomorrow. He needs insurance for the same. He had initially spoken to a few people from Bajaj Allianz, Gurgaon and they gave him a quote of INR 26060.00 for an IDV of INR:10,80,000.00.

However, the Allianz guy, by virtue of being in Gurgaon, is backtracking and hence he needs to get the insurance from someone else at Bangalore. I have a friend who works for HDFC Ergo and he was able to match the quote given by the Allianz guys

BUT

My friend (customer) says that HDFC Ergo does not have "bumper to bumper" insurance which Allianz has.
Is this true?
Moreover, does the quote by Allianz seem fair?
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Old 14th February 2012, 20:53   #1777
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by n.devdath View Post
Hi Folks,

quote of INR 26060.00 for an IDV of INR:10,80,000.00.
This premium is arrived by giving a discount of approx 25% on the Own Damage. Hope he does not have any existing NCB and no other discounts were given.

The same figure could be matched by certain other insurance companies with good negotiation.

But overall this is a good premium
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Old 14th February 2012, 21:22   #1778
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by Marlon View Post
But overall this is a good premium
Thanks Marlon.

Are you also aware if HDFC Ergo has a "bumper to bumper" policy or is this available only with Allianz?
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Old 14th February 2012, 22:22   #1779
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by n.devdath View Post
Thanks Marlon.

Are you also aware if HDFC Ergo has a "bumper to bumper" policy or is this available only with Allianz?
Sorry, I am not aware of the individual insurance company benefits.
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Old 14th February 2012, 22:32   #1780
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by nd81 View Post
I have a one year old figo and my insurance is expiring next month.
Can someone suggest me which insurance company is better -

1. bajaj allianz
2. Royal Sundaram
3. Reliance - they quoted the least which makes me suspicious.
4. oriental
5. icici
6. any other

I fully understand that many insurance companies promise a lot but deliver less.
I cannot comment on Insurance companies. Each person has their own preference. According to me Reliance may not be the best option. You can check for the best quote and benefits from other companies including Chola and L&T
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Old 14th February 2012, 23:17   #1781
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by n.devdath View Post
Are you also aware if HDFC Ergo has a "bumper to bumper" policy or is this available only with Allianz?
I just took such a policy from them for my new Polo.
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Old 15th February 2012, 09:24   #1782
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Quote:
Originally Posted by nd81 View Post
Can someone suggest me which insurance company is better -
1. bajaj allianz
2. Royal Sundaram
3. Reliance - they quoted the least which makes me suspicious.
4. oriental
5. icici
6. any other
The best option would be take online quotes from the ones mentioned and compare. Based on which Insurance co has a cashless tie up with the Ford workshop, you can decide. I am not too sure whether the Public Insurance co do provide an online quote.
One suggestion - Opt for zero % depreciation, might cost a bit more than the usual premium but always better for new car buyers.
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Old 15th February 2012, 13:40   #1783
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by n.devdath View Post
Hi Folks,

My friend is buying a new Scorpio and the vehicle will arrive at the dealer yard tomorrow. He needs insurance for the same. He had initially spoken to a few people from Bajaj Allianz, Gurgaon and they gave him a quote of INR 26060.00 for an IDV of INR:10,80,000.00.

However, the Allianz guy, by virtue of being in Gurgaon, is backtracking and hence he needs to get the insurance from someone else at Bangalore. I have a friend who works for HDFC Ergo and he was able to match the quote given by the Allianz guys

BUT

My friend (customer) says that HDFC Ergo does not have "bumper to bumper" insurance which Allianz has.
Is this true?
Moreover, does the quote by Allianz seem fair?
HDFC do have Zero Dep Policy. Quote looks good!

Quote:
Originally Posted by Marlon View Post
This premium is arrived by giving a discount of approx 25% on the Own Damage. Hope he does not have any existing NCB and no other discounts were given.

The same figure could be matched by certain other insurance companies with good negotiation.

But overall this is a good premium
How did you arrive on 25%? According to me its ~42%, I could be wrong. Assuming vehicle is registered in Gurgaon which Zone B, if its Zone A then the discount increases.
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Old 15th February 2012, 20:07   #1784
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by F50 View Post
How did you arrive on 25%? According to me its ~42%, I could be wrong. Assuming vehicle is registered in Gurgaon which Zone B, if its Zone A then the discount increases.
F50,

My understanding is that the Scorpio will be registered in Bangalore.

This does not affect the calculations since most insurance companies dont have the Zone Concept after de-tariffing.

The insurance companies in India use some or all of the below mentioned criteria to decide on the OD rate.

1. Make & Model
2. Location where the Car is used
3. Registration Location
4. Age of Vehicle
5. Fuel Type
6. Vehicle Segment ( Hatch/Sedan/SUV/ Luxury/etc) or CC

Based on the above factors the Insurance Premium without discount is around 35K (incl taxes).
After Discount of 25 % on the OD part the premium works around 27K.

The above premium and the factors vary from company to company.
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Old 16th February 2012, 08:11   #1785
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Default Re: Automobile Insurance - Ask me

My vista's alloy wheel was damaged(chipped) by an errant auto rickshaw. Is this covered by insurance?
BTW, it is with United India Insurance.
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Automobile Insurance Queries? Ask me-img_0765.jpg  


Last edited by petroguzzler : 16th February 2012 at 08:12.
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