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Old 12th September 2012, 12:41   #2146
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Question Re: Automobile Insurance - Ask me

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Originally Posted by Prodigyy View Post
b. Lets say i want to opt for the TATA AIG Insurance Platinum pack policy and lets assume the dealer does not have that option for the policy, can i after buying the car with the 0% Depreciation policy from the dealer opt for an insurance on my existing insurance policy to avail benefits of the TATA AIG Platinum pack ??
Your question is confusing. You are saying that you will be buying insurance through the dealer for zero dep and upgrade your existing insurance policy for zero dep. Is that what you are asking?
If so then what @F50 says holds true. You cant change your policy in between the policy year and zero dep has to be purchased either during the first purchase or during the renewals provided that the Insurer does have the zero dep add on along with the normal policy.

Last edited by ghodlur : 12th September 2012 at 12:44.
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Old 12th September 2012, 12:50   #2147
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post
Your question is confusing. You are saying that you will be buying insurance through the dealer for zero dep and upgrade your existing insurance policy for zero dep. Is that what you are asking?
If so then what @F50 says holds true. You cant change your policy in between the policy year and zero dep has to be purchased either during the first purchase or during the renewals provided that the Insurer does have the zero dep add on along with the normal policy.
Nope, what i was saying was that i intend to go ahead with a 0% Dep policy as provided by the dealer, but can i have an insurance on this insurance given by the dealer wherein i have some extra add-ons like say loss of personal belongings, daily allowance for the period of time the car is in workshop etc etc.

Anyways, i guess my query has been answered, that either i need to buy all these things initially or i can only do it only at the time of renewal of the policy.

Thanks
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Old 12th September 2012, 13:26   #2148
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Default Re: Automobile Insurance - Ask me

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Originally Posted by sourabhzen View Post
Are the wheel bearings in the wheels covered in the insurance?

One of my friend had to pay for it in spite of having 0 dep policy as the company sad that the bearings are consumables.
Usually companies dont cover consumables like nuts, bolts, bearings etc. There may be 1 or 2 companies which cover but their Zero Dep is nothing to talk about. I dont think consumables cost that much.
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Old 13th September 2012, 07:49   #2149
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Unhappy Re: Automobile Insurance - Ask me

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Originally Posted by r_nairtvm View Post
Hi,

This is an unfortunate scenario for you

Oprtion 1 above is out of question as RC and Insurance are in two different names.

Option 2 is the only one available to you, but then I am not sure of the timeline involved.

The process of claiming for under a TP Liability for property damage (damage to your car) is not easy in India. Essentially you will have to file a civil suit against the the Driver, Ownder & Insurer of MERU, with evidences like Photos, Three Estimates, FIR etc (and then leave it probably to your children or grand children to get benefits when final judgement is given by a Civil Court )

May be find out about MERU's insurer and approach them directly for a out of court settlement, but then again you will have to get the "registered owner" of the car involved.

Once again there is a lesson for all here - Please don't drive around with a vehicle that is not Registerd and Insured in the same name

Just a possibility - check if the dealer still has a valid comprehensive Insurance policy with him in the name of the "Registered Owner", if so with the cooperation of the owner, you may be able to claim.

All The Best

Drive/Ride Safe

Ram
Quote:
Originally Posted by F50 View Post
A tight situation and a nightmare for second hand car owners.

If the policy was still renewed in old owner's name, then you could have easily claimed it.

Check on the following:

1. Is the transfer of ownership in process? You must have produced Form 29 & 30 while transferring the insurance on your name.
If the same was submitted in RTO then, you must have got the receipt. If you have the receipt then show that and lodge the claim.

2. Check the date of inception of insurance and the receipt from RTO, the gap shouldnt be more than 14 days


Funda is simple, you should have Insurable Interest to claim. This is the worst possible position to be in for a used car owner.

And about claiming from Meru, don't even rely on that option. It might take years for you to get the claim.
Thanks for the info. The dealer had started the Transfer Process nearly 3 months back, but delays were caused due to discrepancies in the First Owner's signatures. We've pushed the dealer to get us the RC asap.

After reading the above, I don't think its worth following with Meru for saving a few thousands. We're going for 'Option 2'.

The car did come with a valid comprehensive policy which eventually expired in the gap of 3 months, and we took up a policy right in time (August 17th 2012)
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Old 16th September 2012, 06:24   #2150
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Default Re: Automobile Insurance - Ask me

I recently purchased a brand new vehicle (XUV 500) from the first owner within 3 weeks after he took delivery of the vehicle. The vehicle is carrying Oriental Insurance. I have got the RC in my name.

01. How good is Oriental Insurance ?
02. Do I have the option of getting insurance with another company or do I change the current policy with Oriental insurance to my name and then ask for refund from Oriental, then change to another company ?
03. Vehicle is registered in Kerala. Currently in Bangalore for a month. RC with my name was received only last week. Can I change the name on the existing Insurance policy to my name by reaching out to Oriental Insurance in Bangalore ?

TIA for any help.
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Old 16th September 2012, 23:13   #2151
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Default Insurance claim amount- Help Needed!!!

Hello Friends,

I'm Posting this on behalf of my friend as he is still trying to become a member

He recently met with an accident, thanks to seat belt, he is completely fine.

The total bill for damages is INR 50,750.00 , out of this the insurance company paid around INR 30,600 to the service center and the balance INR 20,000 was paid by my friend.

He has a normal policy (No-Zero Depreciation policy), I'm attaching the snap shot of the bill below:

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> His car is almost 2.5 years old

I believe the amount he paid is on higher side, he also paid towing charges of INR 1500, which as per the insurance company has been adjusted in the bill.

Please have a look at the bill and advise if the amount paid by him is justifiable.
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Old 17th September 2012, 00:44   #2152
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Default Re: Insurance claim amount- Help Needed!!!

Which car is this? Guess its a Chevy - from the emblem bill, but which one?

Seems to be a frontal collision, right? most parts in front (left? or right?) has been changed. Luckily, no damage to radiator?

What is your intention? To know if the total bill was higher side? Or your friend paid a higher portion?

If it is later, then can you provide the split up of which one was paid by Insurance, and what percentage.
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Old 17th September 2012, 02:51   #2153
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Default Re: Insurance claim amount- Help Needed!!!

Insurance covers 100% labour and only pays a portion of the parts replaced depending on part kind.

1) Plastic Parts: Insurance pays 50%. Owner pay balance.
2) Metal Parts: Insurance pays depreciated value. Owner pay balance.
3) Glass : Insurance pays full

All parts replaced like headlamps, bumpers, grilles, emblems are only covered by insurance 50%.

He can ask his surveyor for a detailed breakup.
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Old 17th September 2012, 09:20   #2154
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Default Re: Insurance claim amount- Help Needed!!!

Its simple. Like AbhiJ mentioned, you can do the math yourself.

Adding to what AbhiJ has mentioned, painting is covered 100% and any change in oils are not covered. Its better you sit with the surveyor or body shop manager and get a detailed cost breakup on each part if you wish so.
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Old 17th September 2012, 20:50   #2155
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Default Re: Automobile Insurance Queries? Ask me

Hi Friends,

My 2009 Indica Vista Aura- QJT's insurance is up for renewal next week. I bought this car from my friend in Dec 2011 & got the ownership and insurance duly transferred to my name.

I was told that I would lose the NCB as there is an ownership transfer. I called up the showroom today to check the quotes from other insurance companies and was surprised to hear that the insurance is now costing me at-least Rs 2000 higher than what it was last year.

Last year's insurance premium from United India was Rs 9700 and the quotes Am getting from other insurance companies is nothing less than 11500 now for a vehicle value of Rs 2.75 lacs..

There has been no claim on this insurance except for the ownership transfer.. Need the experts help in understanding if the quote I received is genuine or if the dealership is trying to make a fast buck..
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Old 18th September 2012, 11:22   #2156
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Default Re: Automobile Insurance Queries? Ask me

Friend of mine had bought a WagonR last year; the exshowroom price was somewhere around 3.75L, however, the IDV was 3.56L. As usual, the insurance was done by the dealer Popular motors. We were puzzled as why the IDV was bought down so much by the dealer.

Is this a standard practice or something to think about?

I was under the impression that, higher the IDV value, greater the commission for the dealer from the insurance company & this beats the purpose isn't it?

Any specific reason as why this happens?
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Old 18th September 2012, 15:42   #2157
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by s@tan2s@int View Post

Last year's insurance premium from United India was Rs 9700 and the quotes Am getting from other insurance companies is nothing less than 11500 now for a vehicle value of Rs 2.75 lacs..
I am also facing a similar situation. Premium for my car was Rs 10500 last year and now I am getting quotations starting from 11000+. For some reason they are taking IDV higher then last year. This is in spite of 20% NCB.
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Old 18th September 2012, 18:54   #2158
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Default Re: Automobile Insurance Queries? Ask me

Insurance premiums have gone up this year across the board. Its due to some IRDA ruling i think.
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Old 19th September 2012, 03:43   #2159
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If I have 50‰ NCB, If I renew after 6 months ,after expiry,will I lose NCB?
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Old 20th September 2012, 12:26   #2160
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by Guna View Post
I am also facing a similar situation. Premium for my car was Rs 10500 last year and now I am getting quotations starting from 11000+. For some reason they are taking IDV higher then last year. This is in spite of 20% NCB.
Insurance company claim that Premium charges were increased from this year, hence one need to pay more.

My car with IDV Rs.4,28,572. they charged me Rs.9558 as Premium.

This amount, after adjusting NCB Rs.3,360(35%) and special discount Rs.1052. (They initially quoted Rs.10,610 but after some negotiation, I got at Rs.9558). Previous year the Premium was Rs.10,804. My Car is insured with National Insurance Co.Ltd.
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