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Old 22nd September 2012, 16:02   #2161
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Default Re: Automobile Insurance Queries? Ask me

The renewal of my 1 year old Honda City's insurance is coming up and I am confused with the variety of options. Original insurance is by Universal Sompo under the Honda Assure brand.

ICICI Lombard is the cheapest for a zero dep policy (2k cheaper) followed up Bajaj Allianz and then TATA AIG. L&T refused to provide a zero dep policy. Honda Assure is most expensive.

The ICICI Plans sound pretty fancy to me, engine protector, unlimited zero dep claims etc. Does anyone have experience on how truthful they are ?

What company do you suggest I go for ? Are there any others you would recommend ?
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Old 23rd September 2012, 12:58   #2162
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Default Re: Automobile Insurance Queries? Ask me

ICICI is pretty good. I would suggest go for it as its the cheapest.
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Old 25th September 2012, 14:31   #2163
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Default Insurance (renewal) advice for Linea TJet

Guys, my Linea TJet's insurance is expiring on Sep 29. I was hoping that either my dealer (Concorde Motors) or existing insurer (Future Generali) would bombard me with calls/SMS/emails at least a month prior to this date. Unfortunately, they have not bothered to reach out till now.

So I decided to check out quotes online and this is what I have gathered. The results have been ranked in my (perceived) order of preference. Sadly, Future Generali don't even have an online quotation facility! And Iffco site was not throwing up results.

Insurer IDV Premium
  • Bajaj Allianz - 7,95,167 - 14,147
  • Tata AIG - 8,79,849 - 19,783
  • HDFC Ergo - 7,22,814 - 17,714
  • Royal Sundaram - 8,13,450 - 13,529
  • ICICI Lombard - 7,51,438 - 21,138
- For standardization, Voluntary Excess is included in all of the above
- Value of electrical accessories (ICE) has been put as RS 30,000 for all the above

Can someone guide me which one to select out of these? Obvious preference is for hassle free & cashless claim and fair valuation.

Also, I'm eligible for a 20% NCB. Is there any other parameter on which I can haggle for lowering the premium?

P.S. I have had policies from Bajaj Allianz and Tata AIG for my Getz in the past. While Tata AIG was better in first 2 years, I feel they cheated me during a major claim in 2010. And moreover, they refused to renew after that. SO I had switched to BA and was happy with them.
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Old 25th September 2012, 14:40   #2164
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Default Re: Insurance (renewal) advice for Linea TJet

I had opted for HDFC Ergo at the time of purchase (I got it at a good premium offer due to my choice of HDFC for car loan). This year I faced a similar issue as you - I didn't get any reminder calls or anything. Finally I browsed their website (HDFC Ergo) which seemed quite easy to purchase/renew a policy online. I got it renewed myself and then added a zero depreciation cover for an additional 9k bucks, which brought the premium to almost 27k. The portal redirected me to my citibank website, where I paid the premium and almost instantly they sent me the policy soft copy to my mail account. While a printout of that soft copy is good enough, I suggest you call up the call centre after this, give them the policy number and ask them to send the hard copy to your address (on company letterhead).

They have a pretty good reputation for cashless claims and aren't too stuck up during valuations, from my friend's experience. This was part of the reason I opted for it too.

I would suggest you to get a zero depreciation cover too. It saves a lot of headache during claims, and you don't need to worry about depreciated metal/fibre parts eating up your savings during claims.

Last edited by KarthikK : 25th September 2012 at 14:43.
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Old 25th September 2012, 15:24   #2165
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Quote:
Originally Posted by nishantgandhi View Post
Can someone guide me which one to select out of these? Obvious preference is for hassle free & cashless claim and fair valuation.

Also, I'm eligible for a 20% NCB. Is there any other parameter on which I can haggle for lowering the premium?
I think you should redo the quotes comparison online with an additonal criteria of Zero dep addon assuming that you are in the second year of the vehicle ownership. However if you want to stick to normal quotes my pick would be Royal Sundaram (not because of low premium) as IMO they provide a better service than the rest. This will be followed by Bajaj. Rest of them are quoting too much for too little.

I would suggest you to contact Future Generali (take the first step if they didnt) coz you have Insurance presently from them and 20% NCB as well, they should give a good quote better than others. You can also opt for zero dep add on. Its a pity they dont have an online quote. But then those who provide online quotes also dont gurantee better service/rates.
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Old 25th September 2012, 15:47   #2166
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by KarthikK View Post
I had opted for HDFC Ergo at the time of purchase (I got it at a good premium offer due to my choice of HDFC for car loan). This year I faced a similar issue as you - I didn't get any reminder calls or anything. Finally I browsed their website (HDFC Ergo) which seemed quite easy to purchase/renew a policy online. I got it renewed myself and then added a zero depreciation cover for an additional 9k bucks, which brought the premium to almost 27k. The portal redirected me to my citibank website, where I paid the premium and almost instantly they sent me the policy soft copy to my mail account. While a printout of that soft copy is good enough, I suggest you call up the call centre after this, give them the policy number and ask them to send the hard copy to your address (on company letterhead).

They have a pretty good reputation for cashless claims and aren't too stuck up during valuations, from my friend's experience. This was part of the reason I opted for it too.

I would suggest you to get a zero depreciation cover too. It saves a lot of headache during claims, and you don't need to worry about depreciated metal/fibre parts eating up your savings during claims.
Aint 27k very expensive for 2nd year insurance?
Quote:
Originally Posted by ghodlur View Post
I think you should redo the quotes comparison online with an additonal criteria of Zero dep addon assuming that you are in the second year of the vehicle ownership. However if you want to stick to normal quotes my pick would be Royal Sundaram (not because of low premium) as IMO they provide a better service than the rest. This will be followed by Bajaj. Rest of them are quoting too much for too little.

I would suggest you to contact Future Generali (take the first step if they didnt) coz you have Insurance presently from them and 20% NCB as well, they should give a good quote better than others. You can also opt for zero dep add on. Its a pity they dont have an online quote. But then those who provide online quotes also dont gurantee better service/rates.
Royal Sundaram just called. Their zero dep plan is at a mouth watering premium of Rs 16,640 with an IDV of Rs 813,450.

Will check with others too. Have contacted FG but they are so slow.
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Old 25th September 2012, 17:04   #2167
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by nishantgandhi View Post
Aint 27k very expensive for 2nd year insurance?
Regular premium renewal was 18k. The Zero dep cover was some platinum package or something. That added 9k to the premium value. I didn't try many companies, so just decided to jump in and book it online. In case there are better deals, I think I will just have to grin and bear it here

Quote:
Royal Sundaram just called. Their zero dep plan is at a mouth watering premium of Rs 16,640 with an IDV of Rs 813,450.
this is superb! Are you sure it is with Zero dep? Sounds so low to me, I feel like rewinding my last month's decision and going here
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Old 25th September 2012, 20:27   #2168
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by KarthikK View Post
this is superb! Are you sure it is with Zero dep? Sounds so low to me, I feel like rewinding my last month's decision and going here
It was unbelievable for me too. Then I asked him to email the quote and the same is attached herewith. The only missing thing IMO is 'Personal Accident Benefit to Unnamed Passenger'. And I think that wouldn't add too much to the final quote.

Anything else you see amiss here?

On another note, Concorde Motors called me. They said they have tie up with 5 companies for "hassle free" insurance - Royal Sundaram, Tata AIG, Bajaj Allianz, ICICI Lombard and one more name which I forgot.

Yes, if you read it twice and still couldn't believe, its true. They dont have Future Generali on their list at all! No wonder I wasn't called by them earlier for renewal. So weird. They are co-managing Fiat and they don't have FG on their list?

On top of it, when I ask for a quote from the above 5 companies through Concorde, the lady asks me to scan and email or fax the current policy cover note in order to generate the quote. Now I have neither a scanner nor a fax machine at home. SO basically she put down the phone saying 'I'm sorry sir I cannot offer you a quote'.

***! All others simply asked for basic details!
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Last edited by nishantgandhi : 25th September 2012 at 20:39.
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Old 25th September 2012, 21:07   #2169
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Default Re: Automobile Insurance Queries? Ask me

Even My insurance is expiring next week and i am with tata AIG for the current year.

Earlier i was with bajaj for 3 years but last renewal they asked me for a huge money 5k+exisitng fee.The only mistake i did was claimed 22k for a small accident and ABT maruti played their part in bringing up 15k job to 22k since it was 100% insurance.

Now best part is Bajaj is calling for the pas two days for 8k and HDFC for 7k and TATA AIG guy is asking for 7k.

But HDFC doesnot have cashless at CARS INDIA where i service my car so i am really confused whether to go for BAJAJ or TATA AIG.

I wish i dont have any claim for 12-13 also like last year.

Now suggest me which to go for
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Old 26th September 2012, 01:08   #2170
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Default Re: Automobile Insurance Queries? Ask me

Hi friends,
My insurance is due for renewal next month. Im currently insured with Bajaj allianz. Last year's insurance carries an IDV of Rs. 3,68,377. This year I notice a new option where I can change the IDV within a range of 3,62,000 to 4,02,000.

So what do you suggest? Should I go for a higher IDV or going for the lower one is better? Im getting a lower premium if I opt for the lower IDV.

Also can someone explain to me the meaning of the terms Third Party Liability, Compulsory Deductible and Voluntary Excess used in the Policy Paper?

Also how to know whether my Insurance is Comprehensive Car Insurance or Third Party Only? Which is better among the two?


From some earlier posts I figured Voluntary excess maybe the amount I might be willing to pay in case of any claim. However I don't see this option when I'm selecting the renewal package on the website. Other Insurance companies however are providing the Voluntary excess option as a result of which I can be able to pay a lower premium.

What do you suggest would be the best option to go for? Also should I renew or go in for a new insurance after the current one expires? Im sorry for my lack of knowledge regarding the insurance.

Also Metro ford is offering cashless facility with only 4 insurance companies -
1. Bajaj Allianz
2. Iffco Tokio (haven't heard much about this company. Any reviews?)
3. Tata AIG
4. Can't seem to recall but probably it was New India Assurance.

Which policy do you suggest would be the best for a 2 year old car? Also Im looking to keep the premium within Rs 10k.

Please also feel free to suggest any other Insurer who has a good record of claim settlements. How is Royal Sundaram?

Thanks in advance.

Last edited by Parthasarathig : 26th September 2012 at 01:28.
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Old 26th September 2012, 01:24   #2171
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Hi everyone,
My swift that i bought last year is due for an insurance renewal this nov.
The first year insurance was provided by the maruti guys only.
The car is a VXi variant and has 12000 kms on the odo.
No claim taken as of now, the car is clean apart from a few scratches on the bumper.

The maruti guys are after my life, calling me day and night telling that there are cheats all around and i should only get the insurance thing done from maruti itself.

Any advices ?
I dont have any knowledge about insurance and stuff.
Please can someone suggest me the correct step i should take at this moment ?
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Old 26th September 2012, 08:12   #2172
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by satyamkaushik View Post
The maruti guys are after my life, calling me day and night telling that there are cheats all around and i should only get the insurance thing done from maruti itself.
Ignore the crap they give out to you. Basically they want you to go through them and hence all that gyan. Remember in the end, the service department of the dealer is the one who is going to work with you when you go for a claim. How you got the insurance does not matter.

1. Get a broker (ask people for contacts/ google/etc) to give you competitive quotes, and as well give a try with Tata AIG & Bajaj Allianz on your own (fill your number on their website, and they'll call you).
2. Remember to state that you need a zero depreciation policy when you speak to the agent/insurance customer care and get the quote on mail.
3. All of them will definitely ask you if you had any claims in the first year. Mention accordingly, and they'll figure in the 20% No-claim bonus discount while giving the final quote.
4. Pick and choose the insurance option. If you want help on that, share the quotes on this thread, and people will help you.
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Old 26th September 2012, 08:28   #2173
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Quote:
Originally Posted by nishantgandhi View Post
The only missing thing IMO is 'Personal Accident Benefit to Unnamed Passenger'. And I think that wouldn't add too much to the final quote.

Anything else you see amiss here?
The PA for unnamed passenger should not be more than Rs 500/- for an amount of 2L per passenger and I suggest you should go for it. I can see that you have not opted for ICE cover which earlier you had proposed for 30K, any particular reason for the same? Apart from that everything else looks OK. I think you should go for RS.
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Old 26th September 2012, 08:48   #2174
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Quote:
Originally Posted by joshguy View Post
But HDFC doesnot have cashless at CARS INDIA where i service my car so i am really confused whether to go for BAJAJ or TATA AIG.
Cheapest premium doesnt mean that the service would be great in case of any claims. Have you confirmed with the workshop whether they have a cashless tie up with tata of bajaj? If so then you can choose between the two depending upon the lower premium offered but before you take the insurance just enquire with the workshop about the claims history of the Insurers for that peace of mind.

Quote:
Originally Posted by Parthasarathig View Post
So what do you suggest? Should I go for a higher IDV or going for the lower one is better? Im getting a lower premium if I opt for the lower IDV
Keep the IDV as per the regulations which should be in terms of percentage of present exshowroom value of the variant depensing on the no of years of ownership. The tabe is available in the Insurance policy and is standard for all Insurers. Check your Insurance policy document.

Quote:
Also can someone explain to me the meaning of the terms Third Party Liability, Compulsory Deductible and Voluntary Excess used in the Policy Paper?
Check the Insurance policy document for more details.
Quote:
Also how to know whether my Insurance is Comprehensive Car Insurance or Third Party Only? Which is better among the two?
Should be written on the policy certificate specifically.

Quote:
From some earlier posts I figured Voluntary excess maybe the amount I might be willing to pay in case of any claim. However I don't see this option when I'm selecting the renewal package on the website. Other Insurance companies however are providing the Voluntary excess option as a result of which I can be able to pay a lower premium.
Voluntary excess is a personal option which generally I dont go for as there is not much reduction in the policy premium if opted for. If low premium is of utmost essential to you then only go for it.

Quote:
What do you suggest would be the best option to go for? Also should I renew or go in for a new insurance after the current one expires?
Always renew the Insurance policy sufficiently in advance, never drive without any valid Insurance policy.

Quote:
Which policy do you suggest would be the best for a 2 year old car? Also Im looking to keep the premium within Rs 10k.
Depends on Policy premium and the service offered by the Insurers. Do a comparison of various Insurers online as well as at the workshop where you normally service your car. This should give a start.

Quote:
Originally Posted by satyamkaushik View Post
The maruti guys are after my life, calling me day and night telling that there are cheats all around and i should only get the insurance thing done from maruti itself.
Ignore their requests but do take a quote from them. Get a few quotes online from the Insurers and if less than Maruti's quote you then will automatically shut them up.
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Old 26th September 2012, 10:26   #2175
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Quote:
Originally Posted by ninjatalli
Ignore the crap they give out to you. Basically they want you to go through them and hence all that gyan. Remember in the end, the service department of the dealer is the one who is going to work with you when you go for a claim. How you got the insurance does not matter.

1. Get a broker (ask people for contacts/ google/etc) to give you competitive quotes, and as well give a try with Tata AIG & Bajaj Allianz on your own (fill your number on their website, and they'll call you).
2. Remember to state that you need a zero depreciation policy when you speak to the agent/insurance customer care and get the quote on mail.
3. All of them will definitely ask you if you had any claims in the first year. Mention accordingly, and they'll figure in the 20% No-claim bonus discount while giving the final quote.
4. Pick and choose the insurance option. If you want help on that, share the quotes on this thread, and people will help you.
Thanks Ninjatalli.
I'll register my mobile no. on the website and meanwhile look for some broker.
That sound cool

By any change can someone here on Team-Bhp suggest me a broker out here in north/west delhi ?

By the way my current policy is not a zero dep. policy.
So should i continue with the normal policy i have or should i go for the zero depreciation one. ?

What is the main benefit with such a policy and is there a major difference in the amount of insurance premium ?

Quote:
Originally Posted by ghodlur

Ignore their requests but do take a quote from them. Get a few quotes online from the Insurers and if less than Maruti's quote you then will automatically shut them up.
Thanks Ghodlur.
Ya as suggested by ninjatalli as well, i'll have some quotes from different sources and will let you guys know if i m getting any reasonable option or not.
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