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Old 10th March 2012, 10:34   #1831
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Default Re: Automobile Insurance - Ask me

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Originally Posted by libranof1987 View Post
I don't know what truth there is to the premium-will-be-hiked-after-budget story; just out of curiosity, is it a diesel vehicle?

Anyway, even if you renew Insurance now, it will kick in only after the current policy expires. So, you don't lose anything apart from the interest on that amount.

Royal Sundaram allows policies to be renewed within a 15-day window prior to existing policy expire.

Instant Insurance Renewal - Health, Home, Travel & Car Insurance Renewal | Royal Sundaram
Yes, its a diesel car.
Since this insurance is through Maruti, may be its not having the 15-day window period. I will try to get more information from Bimal on this. Comprehensive insurance should be fine, right? I need to get a quote for zero depreciation as well.
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Old 10th March 2012, 10:37   #1832
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Default Re: Automobile Insurance - Ask me

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Originally Posted by arun_josie View Post
Yes, its a diesel car.
Since this insurance is through Maruti, may be its not having the 15-day window period. I will try to get more information from Bimal on this. Comprehensive insurance should be fine, right? I need to get a quote for zero depreciation as well.
Yea, you should be taking comprehensive insurance. How old is the car btw? Someone on the forum mentioned that there is an age-limit to when you can take a zero-dep policy.
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Old 10th March 2012, 16:37   #1833
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Default Re: Automobile Insurance - Ask me

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Originally Posted by libranof1987 View Post
Yea, you should be taking comprehensive insurance. How old is the car btw? Someone on the forum mentioned that there is an age-limit to when you can take a zero-dep policy.
Oh is it? Car is just a year old, bought in April 2011.
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Old 12th March 2012, 17:07   #1834
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Default Re: Automobile Insurance - Ask me

Just completed the transaction for my 1.4L XETA petrol with Berkshire.
Policy is provided by Bajaj Allianze.
IDV: 129105
Total amount paid: 3229
Voluntary Excess: 0
Includes cashless claim facility and 24x7 roadside assistance package which is free upto 100kms from base city.
Website is not very user friendly, but the phone service is very good.
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Old 15th March 2012, 13:55   #1835
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Default Re: Automobile Insurance - Ask me

Dear Bhpians need some help regarding renewal of insurance for my VW Vento TDi HL. Its due on 4 Apr'12 and I did receive a call from a Insurance agent to whom VW had passed my details.

He has quoted me Rs. 16K for Tata Aig (Comprehensive) and Rs. 21.5K Tata Aig (Zero dep policy). Both the quotes had different IDV value with a difference of 60K, have asked the agent to send new quotes considering the current IDV value is 8.67 Lac. My current insurer is BhartiAxa. How is TataAig compared to BhariAxa?

Is there any benefit of Zero dep policy over comprehensive, considering Rs. 4.7K additional. I have made no claims and does it entitle me for NCB when I renew my insurance?

Thanks.
El.
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Old 15th March 2012, 16:22   #1836
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Default Re: Automobile Insurance - Ask me

Guys, I have a query here,

I have a Tata AIG insurance policy for my swift diesel. The policy will expire sometime next month and I have to renew it. My NCB status was at 0% when I renewed the policy last year (I had made a claim the year before that). I have not made any claims for the current policy period. Now, when I renew it this year, will I get any NCB or will it remain at 0%? I had heard somewhere the NCB increases by 5% for every year (unless any claim is made). But, does it apply when the NCB is at 0% for the previous policy period?
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Old 15th March 2012, 16:28   #1837
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Default Re: Automobile Insurance - Ask me

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I have not made any claims for the current policy period. Now, when I renew it this year, will I get any NCB or will it remain at 0%?
It depends on claims made in the current policy period. Since you have not made any, you should be eligible for the NCB.
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Old 15th March 2012, 19:27   #1838
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Default Re: Automobile Insurance - Ask me

Can one have more than one insurance policy for one vehicle from different organizations during the same period of time.

A person can have more than one life insurance policy AFAIK. Is there any restriction when it comes to automobiles?

We all pay our premiums, don't we? Considering the situation most companies end up with 50% of the claim for a 3 year old car, is there an option of insuring with multiple companies?

If I have missed the relating post, kindly forgive my bad eyesight and lead us all to the right link!
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Old 15th March 2012, 20:03   #1839
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Default Re: Automobile Insurance - Ask me

I have my i20 (Asta Diesel may 2011) insurance renewal due in may 2012, and I got a quote for 18920/- (15230/- + 0 depreciation addon 3690/-). IDV in the quote is 6,50,000/-. Is this a good quote? (considering I don't have NCB as I had a claim due to an accident)
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Old 15th March 2012, 22:53   #1840
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by YaeJay View Post
Can one have more than one insurance policy for one vehicle from different organizations during the same period of time.

A person can have more than one life insurance policy AFAIK. Is there any restriction when it comes to automobiles?

We all pay our premiums, don't we? Considering the situation most companies end up with 50% of the claim for a 3 year old car, is there an option of insuring with multiple companies?

If I have missed the relating post, kindly forgive my bad eyesight and lead us all to the right link!
Legally not allowed. If you manage to get two policies , you will never be able to claim from two companies unless you are willing to commit some serious fraud.
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Old 15th March 2012, 22:59   #1841
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by addyhemmige View Post
Guys, I have a query here,

I have a Tata AIG insurance policy for my swift diesel. The policy will expire sometime next month and I have to renew it. My NCB status was at 0% when I renewed the policy last year (I had made a claim the year before that). I have not made any claims for the current policy period. Now, when I renew it this year, will I get any NCB or will it remain at 0%? I had heard somewhere the NCB increases by 5% for every year (unless any claim is made). But, does it apply when the NCB is at 0% for the previous policy period?
You will be eligible for 20% NCB

Quote:
Originally Posted by el lobo 6061 View Post

Is there any benefit of Zero dep policy over comprehensive, considering Rs. 4.7K additional. I have made no claims and does it entitle me for NCB when I renew my insurance?

Thanks.
El.
Go for Zero Dep policy, you will not be deducted any deprecation value during claims settlement. Yes you are entitled to 20 % NCB
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Old 16th March 2012, 00:09   #1842
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Default Re: Automobile Insurance - Ask me

^^^Is it possible to convert a normal policy to a zero depreciation policy for a car of any age?
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Old 16th March 2012, 00:21   #1843
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Default Re: Automobile Insurance - Ask me

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^^^Is it possible to convert a normal policy to a zero depreciation policy for a car of any age?
If zero depreciation is filed (with IRDA) as an add-on cover in the normal motor product then you can add the cover through endorsement.

Or you can cancel the current policy and buy a zero dep policy. Not sure on the age of vehicles which are applicable. Must be company specific.
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Old 16th March 2012, 00:47   #1844
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Default Re: Automobile Insurance - Ask me

^^^Would have to check then. Bajaj has zero dep I hope?
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Old 16th March 2012, 10:50   #1845
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Default Re: Automobile Insurance - Ask me

Bajaj has zero dep and so does Tata AIG - but both of them have zero dep only for cars less than 3 yrs old.
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