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Old 7th June 2012, 13:54   #2011
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post

I spoke to the Insurance co for my Fiesta and I was told unless the change of address happens in the RC, they would not accept the change in address requests any time of the policy year. So I will have to first apply for address change in RC and then forward the copy of RC with new address to the Insurance co for the changed address to be effected. This means a couple of visits to RTO first.
Yes the company will recognize you and your address by RC book only.

Hire an agent, why you want to go through the hassle? Give the necessary documents and he'll get it done quickly than we visiting there.
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Old 7th June 2012, 13:59   #2012
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Hire an agent, why you want to go through the hassle? Give the necessary documents and he'll get it done quickly than we visiting there.
Agent quoted 500/- for the one RC (I have two to be changed -Fiesta & Activa). So a cost of 1K for the RC address change. Time frame - 5 days. Fees for address change as per RTO chart - Rs 20/-.

Add to the above the Driver's Licence too where I will have to do the address change.
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Old 7th June 2012, 14:46   #2013
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post
Agent quoted 500/- for the one RC (I have two to be changed -Fiesta & Activa). So a cost of 1K for the RC address change. Time frame - 5 days. Fees for address change as per RTO chart - Rs 20/-.

Add to the above the Driver's Licence too where I will have to do the address change.
Yeah agent charges are more than actual fees. Think as if you are paying premium just to save yourself from the hassle and running from pillar to post.
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Old 7th June 2012, 15:53   #2014
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Quote:
Originally Posted by Sn1p3r
I am back

iDV quoted for 7Lacs

Tata AiG = 16,871/- (I am currently with them and so the agents not extending discounts)
ICICI Lombard = 15000/-

Do you think this is a good deal for 0 depreciation policy? For June 2010 model Honda City.

Thank you!

I got diff quotes from policybazzar. On going into details realised to reduce premium different vendors were not considering one or other component.
Later checked bajaj allianz web site as my existing policy was bajaj allianz honda assure.policy. Online for idv of 635000 they were quoting a premium of 16535 while the dealer offered me a policy with premium of 15300 approx so finally went for the offer from dealer
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Old 7th June 2012, 17:12   #2015
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Quote:
Originally Posted by mm403

I got diff quotes from policybazzar. On going into details realised to reduce premium different vendors were not considering one or other component.
Later checked bajaj allianz web site as my existing policy was bajaj allianz honda assure.policy. Online for idv of 635000 they were quoting a premium of 16535 while the dealer offered me a policy with premium of 15300 approx so finally went for the offer from dealer
This might be due to our different registration number. The issue right now for me is that you guys including Libran are taking your iDV for June 2010 model to be near 6L and change. But mine is coming to 7 lacs with 10 % depreciation. Now is this a good idea or not?

Current market valuation ( used car thread on TBhp) suggests that market accepts car worth 6.30L so am I paying extra premium for nothing or is it advantage me for taking only 10 % year on year deprivation.

Thanks!
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Old 7th June 2012, 18:43   #2016
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post
It is based on the date of sale as you will buy Insurance based on the invoice date.
Actually this seems to be a loophole in the policy wordings (which I believe is provided by the IRDA) - please see image below.

"Age" of vehicle is what is considered. So there are a couple of options that the insurance companies are following. I know that Bajaj and Bharti are following the manufacturing date as "age", whereas. TATA is following the date of registration for purpose of calculating "age".
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Old 7th June 2012, 19:31   #2017
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ghodlur View Post
Agent quoted 500/- for the one RC (I have two to be changed -Fiesta & Activa). So a cost of 1K for the RC address change. Time frame - 5 days. Fees for address change as per RTO chart - Rs 20/-.

Add to the above the Driver's Licence too where I will have to do the address change.
My suggestion to you is do it yourself since it is a straightforward task. Don't have much idea about Thane RTO, but Mumbai Central RTO is very well organized these days. I went there to renew my licence, filled the forms, paid the fees and collected the licence after a couple of hours.

In a worst case scenario, if you decide to go via agent route, please ensure you bargain hard since 500 is too much for an address change. Find a trustworthy one, since some of them will try to extract money later on after submitting the documents on some pretext or the other.
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Old 8th June 2012, 15:02   #2018
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ghodlur View Post
Agent quoted 500/- for the one RC (I have two to be changed -Fiesta & Activa). So a cost of 1K for the RC address change. Time frame - 5 days. Fees for address change as per RTO chart - Rs 20/-.

Add to the above the Driver's Licence too where I will have to do the address change.
My suggestion is that you should do it yourself. I have done this myself for 3 cars and have got my & my spouse's licence also renewed. It is a straight forward and simple job. Suggested way is:
1. Check the website for a) Forms b)Fees c)Supporting Documents required d)Which RTO Office to go to? (In Delhi, there are 9 and unfortunately I Had to visit three different ones. Also, check the fees & penalties. Fees is paltry sum, but penalty amount can be larger. In Delhi it is nil for 14 days and after that 100/= per month.)
2. Fill form, attach documents and submit to concerned RTO office.
3. Go to RTO Office on given day to collect the RC. (In Delhi it varied between 10-14 days for different offices. I went on day 18th and collected all).
Now if the cost and trouble of two visits to the RTO are really troublesome then sure go ahead with an agent otherwise save money.

Licence renewal is a couple of hours job maximum. Again have the form filled and ready with the supporting documents and go to the RTO Office.
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Old 8th June 2012, 15:40   #2019
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Thank you gentlemen for helping me finalize.
I finally sent my cheque to ICICI Lombard worth ₹ 15k as premium (0 dep) for IDV ₹ 7L honda city June 2010.
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Old 10th June 2012, 23:01   #2020
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Default Re: Automobile Insurance - Ask me

I don't know if this query is right for this thread, mods please move if necessary.

Guys my i10 had a minor accident today as described in this post http://www.team-bhp.com/forum/street-experiences/109249-accidents-india-pics-758.html#post2804122.

Please guide me how should I proceed. I have never claimed insurance as this is my first accident. The insurer is United India insurance company.

Can I go to any authorized Hyundai workshop and get the repairs done or I should visit the showroom cum workshop from where the car was purchased.
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Old 11th June 2012, 08:02   #2021
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Originally Posted by bluevolt View Post
The insurer is United India insurance company.

Can I go to any authorized Hyundai workshop and get the repairs done or I should visit the showroom cum workshop from where the car was purchased.
Absolutely, you should visit the Hyundai w/shop ASAP and get a quote for the damage repair. If the w/shop has a cashless tie up with United Insurance then things will be a lot more smoother. If not then you will have to contact the Insurer yourselves and ask for a surveyor to have a look at the damage for estimation. Please be present when the surveyor is estimating the damage to avoid late surprises and just glance the policy document for the depreciation rates beforehand.

No need to visit the showroom.

Lastly dont let this incident dent your confidence. Just as others advised in the Accident thread, carry on with life.
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Old 11th June 2012, 13:11   #2022
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Quote:
Originally Posted by bluevolt
Please guide me how should I proceed. I have never claimed insurance as this is my first accident. The insurer is United India insurance company.
Sorry to hear about the accident. I agree with Ghodlur 100%. And must lay emphasis on the following point he made. Make sure you are present while inspection, to get the right amount and calculations done. Once the claimed is filed it can't be changed, so go through the damages with Service advisor chronologically w.r.t components and replacements.

Quote:
Originally Posted by ghodlur
Please be present when the surveyor is estimating the damage to avoid late surprises and just glance the policy document for the depreciation rates beforehand.
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Old 12th June 2012, 07:53   #2023
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Default Re: Automobile Insurance - Ask me

Had a serious accident in a Nissan Micra. I'm claiming insurance and its Oriental Insurance. I've a few questions.
1. Parts like the bonnet/fender need to be replaced in the car. The workout is like this. Cost of new bonnet = 3500
Cost of painting bonnet= 8500
Tax and Labor = 750
I'm aware that depreciation is involved. The car is 1 year old exactly. So that translates to a 10% dep. for metal parts. Will the insurance pay for painting and labor as well or only for 90% of the part?

2. Some components such as the Fog lamp assembly need to be replaced. The surveyor has given approval for this component. What percentage will be covered?

3. Internal components such as Steering and Gear Assembly, Spindle Knuckle need to be replaced as well. The surveyor has given a Check & Report for this. This means that he requires the workshop to remove the component and inspect if its damaged or not. If it is damaged and needs to be replaced, will insurance cover these components as well? If yes, what percentage of it can I expect?
The overall bill is a whopping 1.3lakhs and I'm pretty scared !
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Old 12th June 2012, 09:21   #2024
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Originally Posted by anjanravi View Post
Had a serious accident in a Nissan Micra. I'm claiming insurance and its Oriental Insurance. I've a few questions.
1. Parts like the bonnet/fender need to be replaced in the car. The workout is like this. Cost of new bonnet = 3500
Cost of painting bonnet= 8500
Tax and Labor = 750
I'm aware that depreciation is involved. The car is 1 year old exactly. So that translates to a 10% dep. for metal parts. Will the insurance pay for painting and labor as well or only for 90% of the part?

2. Some components such as the Fog lamp assembly need to be replaced. The surveyor has given approval for this component. What percentage will be covered?

3. Internal components such as Steering and Gear Assembly, Spindle Knuckle need to be replaced as well. The surveyor has given a Check & Report for this. This means that he requires the workshop to remove the component and inspect if its damaged or not. If it is damaged and needs to be replaced, will insurance cover these components as well? If yes, what percentage of it can I expect?
The overall bill is a whopping 1.3lakhs and I'm pretty scared !
@anjanravi,
Sad to know about the accident, I hope you are safe and the other occupants too.
Regarding your queries (read the policy document for depreciation rates)
1) Insurer will pay only for the metal depreciation and not for the painting and labour, most of the Insurers dont, its the workshop's call on that. But if the bonnet is replaced directly why would it need painting, does it come unpainted. Pls verify.
2 & 3)This should be direct part replacement and will cost as per the spare price.
In case of any doubt please get it verified with the workshop and the Insurer again. Looking at the bill, the damage seems to be quite heavy. Was the engine too damaged?
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Old 12th June 2012, 09:37   #2025
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Default Re: Automobile Insurance - Ask me

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Originally Posted by anjanravi View Post
Cost of new bonnet = 3500
Cost of painting bonnet= 8500
This is unrealistic figure IMO. Please verify whether the new bonnet comes unpainted and cost of painting should be less then half of the amount mentioned here.
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