Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 17th October 2012, 12:50   #2206
BHPian
 
revintup's Avatar
 
Join Date: Jun 2011
Location: Kottaym
Posts: 379
Thanked: 239 Times
Default Re: Automobile Insurance Queries? Ask me

Zero depreciation or not?

This is the first time am renewing and also have the NCB.

I have got an insurance renewal quote from Royal Sundaram. The IDV is Rs 7,56,840 and the premium is Rs 15,252.

The problem is I had asked for a B2B 0 depreciation insurance and it is not clear to me whether it is 0 depreciation or not.

A depreciation waiver clause has been added to my insurance for Rs 1665. So is this the 0 depreciation fee?

Also is the amount quoted reasonable?
revintup is offline   Reply With Quote
Old 19th October 2012, 12:33   #2207
F50
Senior - BHPian
 
F50's Avatar
 
Join Date: Mar 2004
Location: Mumbai/USA
Posts: 1,693
Thanked: 88 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by revintup View Post
Zero depreciation or not?

This is the first time am renewing and also have the NCB.

I have got an insurance renewal quote from Royal Sundaram. The IDV is Rs 7,56,840 and the premium is Rs 15,252.

The problem is I had asked for a B2B 0 depreciation insurance and it is not clear to me whether it is 0 depreciation or not.

A depreciation waiver clause has been added to my insurance for Rs 1665. So is this the 0 depreciation fee?

Also is the amount quoted reasonable?
Dep waiver clause fee usually means Zero Dep. I would advise to go through clause carefully. 15k quoted premium for which car?
F50 is offline   Reply With Quote
Old 19th October 2012, 15:09   #2208
BHPian
 
revintup's Avatar
 
Join Date: Jun 2011
Location: Kottaym
Posts: 379
Thanked: 239 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by F50 View Post
Dep waiver clause fee usually means Zero Dep. I would advise to go through clause carefully. 15k quoted premium for which car?
Honda city 2011 nov model. Only Royal sundaram and reliance are giving in the range of 15k.
revintup is offline   Reply With Quote
Old 20th October 2012, 22:58   #2209
BHPian
 
satyamkaushik's Avatar
 
Join Date: Nov 2008
Location: New Delhi
Posts: 272
Thanked: 102 Times
Default

Hi folks, just wanting to confirm the deal i am getting for the insurance on my 2011 swift vxi.

IDV= rs.4,50,000.

Zero depn premium = rs.14,200.

This is a policy offered to me by future generali.
A similar policy is offered to me by bajaj.

They are offering me a IDV= 375000.

Zero depn premium = 14000.

I am more inclined towards future generali.
Any suggestions ?

The policy will expire on 6th nov.
I have a no claim bonus intact.
The car is in a god condition after 12k of running and 11 months of usage.
satyamkaushik is offline   Reply With Quote
Old 22nd October 2012, 00:17   #2210
BHPian
 
iron.head's Avatar
 
Join Date: Dec 2011
Location: New Delhi
Posts: 198
Thanked: 112 Times
Default Re: Automobile Insurance Queries? Ask me

A friend is getting a new Ritz Lxi in a few days. Is it worth getting the Bumper to Bumper protection insurance? Should he get the insurance from Maruti Suzuki or outside? Which are the good insurance companies? Any negotiation with MS possible? Thanks!
iron.head is offline   Reply With Quote
Old 22nd October 2012, 08:31   #2211
Senior - BHPian
 
Warwithwheels's Avatar
 
Join Date: Aug 2009
Location: India
Posts: 1,279
Thanked: 1,010 Times
Default

Quote:
Originally Posted by iron.head
A friend is getting a new Ritz Lxi in a few days. Is it worth getting the Bumper to Bumper protection insurance? Should he get the insurance from Maruti Suzuki or outside? Which are the good insurance companies? Any negotiation with MS possible? Thanks!
B2B cover taken from outside the showroom will work out much cheaper than the normal cover provided by the showroom.

Ask your friend to login into any online insurance portal like royal sundaram or bajaj and generate a quote with the values identical to the values mentioned in the pro forma invoice.

Ask him to do a line by line comparo. He'll be able to decide instantly.

PS: Just make sure that the online insurance company has a tie up with the dealer service network to enjoy the cashless claim benefit. This list is usually found in the website of respective insurance cos.

Last edited by Warwithwheels : 22nd October 2012 at 08:44.
Warwithwheels is offline   (1) Thanks Reply With Quote
Old 22nd October 2012, 08:36   #2212
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,804 Times
Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by satyamkaushik View Post
I am more inclined towards future generali.
Any particular reason for going to FG apart from low premium (200/- difference is not actually low premiun but still). Does FG have a cashless tie up with MS workshop nearest to you. If so then you can try them. Who is your current Insurer, have you negotiated with them?

Quote:
Originally Posted by iron.head View Post
A friend is getting a new Ritz Lxi in a few days. Is it worth getting the Bumper to Bumper protection insurance? Should he get the insurance from Maruti Suzuki or outside? Which are the good insurance companies? Any negotiation with MS possible? Thanks!
Your friend should opt for zero dep insurance as its a totally new car for that extra peace of mind. Suggest your friend to visit Policybazaar.co or any comparison website to get an idea of the Insurance premiums offered. Also suggest your friend to negotiate with MS for freebies equivalent to Insurance premium and take the Insurance from outside.
ghodlur is offline   (1) Thanks Reply With Quote
Old 22nd October 2012, 08:49   #2213
Senior - BHPian
 
Warwithwheels's Avatar
 
Join Date: Aug 2009
Location: India
Posts: 1,279
Thanked: 1,010 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
Your friend should opt for zero dep insurance as its a totally new car for that extra peace of mind. Suggest your friend to visit Policybazaar.co or any comparison website to get an idea of the Insurance premiums offered.
Spot on!

Quote:
Also suggest your friend to negotiate with MS for freebies equivalent to Insurance premium and take the Insurance from outside.
Why would the dealer provide freebies equivalent to the premium forgone by him? When you have already squeezed out the hefty margin that he makes on the new policy covers, I highly doubt if he would even listen to you on that.
Warwithwheels is offline   Reply With Quote
Old 23rd October 2012, 01:07   #2214
BHPian
 
satyamkaushik's Avatar
 
Join Date: Nov 2008
Location: New Delhi
Posts: 272
Thanked: 102 Times
Default

Quote:
Originally Posted by ghodlur
Any particular reason for going to FG apart from low premium (200/- difference is not actually low premiun but still). Does FG have a cashless tie up with MS workshop nearest to you. If so then you can try them. Who is your current Insurer, have you negotiated with them?
My car is currently insured with bajaj Allianz on a normal policy.
Today i again got a call from maruti informing me that my policy is soon gonna expire.
In return i asked them for a fresh quote for a zero dep policy, the girl had something different to tell me this time, she said that maruti doesn't have a policy for renewal with zero dep and the only policy i can go for is a normal policy that i currently have.
I even tried calling on the bajaj allianz customer care no. a couple of time but no luck, every time they ask my details and end up saying that they would give me a call soon. The same thing happened with Tata AIG as well.

The last i could do was to search for the nearest Bajaj Allianz office near my place. I called them up, a guy took my policy no. and various details about the car make model and stuff, guess what he too said the same thing "i would get back to you sir in about 15 mins".
I kept waiting for the whole day but i didnt get a call from their side.
Really unsatisfied with these Bajaj guys, on the other hand the Future Generali guy is niw after my life calling me two times a day asking me, when shall he come and collect the cheque

Totally confused..!
satyamkaushik is offline   Reply With Quote
Old 29th October 2012, 22:03   #2215
BHPian
 
ThePunter's Avatar
 
Join Date: Jan 2010
Location: TN-22 / KL-53
Posts: 102
Thanked: 18 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by satyamkaushik View Post
My car is currently insured with bajaj Allianz on a normal policy.
Today i again got a call from maruti informing me that my policy is soon gonna expire.
In return i asked them for a fresh quote for a zero dep policy, the girl had something different to tell me this time, she said that maruti doesn't have a policy for renewal with zero dep and the only policy i can go for is a normal policy that i currently have.
I even tried calling on the bajaj allianz customer care no. a couple of time but no luck, every time they ask my details and end up saying that they would give me a call soon. The same thing happened with Tata AIG as well.

The last i could do was to search for the nearest Bajaj Allianz office near my place. I called them up, a guy took my policy no. and various details about the car make model and stuff, guess what he too said the same thing "i would get back to you sir in about 15 mins".
I kept waiting for the whole day but i didnt get a call from their side.
Really unsatisfied with these Bajaj guys, on the other hand the Future Generali guy is niw after my life calling me two times a day asking me, when shall he come and collect the cheque

Totally confused..!
From my friends most recent experience I would be scared to hell to deal with Future genarale.
He had a Punto 90 hp (not even 1 year old) and now it can almost be considered totalled after the damage it got from the 2 trucks which sandwitched it. FG is playing games and offering only about half of the IDV or so giving other insane offers,... or else is pushing for a repair of the car, which will seriously jeopardise the safety aspect (SC clearly telling it cant be brought to earlier normal condition). this adds up to the whole weeks that are passing by for no reason, in this land with no laws whatsoever for protecting the common man !!
More details could be read in the fiat discussion forum how it the solid car saved a family
ThePunter is offline   Reply With Quote
Old 30th October 2012, 01:06   #2216
BHPian
 
satyamkaushik's Avatar
 
Join Date: Nov 2008
Location: New Delhi
Posts: 272
Thanked: 102 Times
Default

Quote:
Originally Posted by ThePunter

From my friends most recent experience I would be scared to hell to deal with Future genarale.
He had a Punto 90 hp (not even 1 year old) and now it can almost be considered totalled after the damage it got from the 2 trucks which sandwitched it. FG is playing games and offering only about half of the IDV or so giving other insane offers,... or else is pushing for a repair of the car, which will seriously jeopardise the safety aspect (SC clearly telling it cant be brought to earlier normal condition). this adds up to the whole weeks that are passing by for no reason, in this land with no laws whatsoever for protecting the common man !!
More details could be read in the fiat discussion forum how it the solid car saved a family
Thanks Punter for sharing the experience.
Thank god i chose TATA AIG.

Well, mayank a fellow Bhpian helped me out of the confusion and guided me the right way.
Finally settled for Tata AIG at a premium of Rs.13115 and a IDV of Rs.4,71,000.

I like the way they processed the whole thing. My car was inspected with in half an hour of my phone call to them and the next morning i got the cover note.

Overall satisfied with there service till now, plus mostly heard only positive reviews about TATA AIG.
satyamkaushik is offline   Reply With Quote
Old 30th October 2012, 13:50   #2217
BHPian
 
anandtheleo's Avatar
 
Join Date: Jan 2007
Location: Chennai
Posts: 329
Thanked: 161 Times
Default Re: Automobile Insurance Queries? Ask me

Hi,

My XUV500 W6 is coming up for renewal. While calculating the IDV value, should I take the current market price which has increased by a lac or should I take my purchase ex-showroom price?

Thanks,
anandtheleo is offline   Reply With Quote
Old 30th October 2012, 14:17   #2218
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,804 Times
Smile Re: Automobile Insurance Queries? Ask me

My Fiesta's Insurance is up for renewal. Have got a quote from Future Generali which is lowest amongst the other quotes which I have got from online quotes. The IDV in the quote does not seem to be according to the ex-showroom rate with depreciation added but flat 10% less of last years IDV. Upon enquiry FG rep clarified that since Fiesta Zxi variant is no longer in production they cant use the present Fiesta Classic Clxi ex-showroom cost for IDV calculation (Which is Zxi counterpart). Is this a valid point?

The other grouse is FG does not have online renewal, have to visit their branch or ask someone from FG to visit for cheque collection.
ghodlur is offline   Reply With Quote
Old 30th October 2012, 14:28   #2219
MCR
BHPian
 
MCR's Avatar
 
Join Date: Aug 2009
Location: Mysuru mattu Bengaluru
Posts: 641
Thanked: 96 Times
Default Re: Automobile Insurance Queries? Ask me

I just got the Insurance for my Punto renewed.

Policy type : Standard Package policy

Insurer : Bajaj Allianz

IDV : 393299/-

Final Premium : 5734/-

Year of Mfg : 2009

Add on Cover : 24x7 Spot Assistance

Broker : Berkshire Insurance
MCR is offline   Reply With Quote
Old 2nd November 2012, 14:18   #2220
BHPian
 
ssadwelkar's Avatar
 
Join Date: Dec 2009
Location: Mumbai
Posts: 69
Thanked: 55 Times
Default Re: Automobile Insurance Queries? Ask me

I have sold my vehicle about a month back but due to some personal reasons of the buyer he has still not transferred the car on his name. I had a sent a letter to my insurance company the same day mentioning that I sold my car and to cancel my Insurance policy and refund the balance premium amount and send me my NCB, they came back saying that they will need my original Insurance Policy and copy of the RC book with the new owner’s name.


I understand that they need my original Insurance Policy but fail to understand why they are insisting on a copy of the RC book with the new owner’s name. How does it matter to them whether the vehicle is transferred to the new owner or not? Can they not just cancel the policy and refund me my balance premium amount and give me my NCB?


Can someone please shed some light on this?
ssadwelkar is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Health insurance queries? Ask me! Haste Shifting gears 350 22nd November 2016 19:29
Queries in 'Ask the gurus' section rocksterraghu In-Car Entertainment 695 9th August 2016 07:54
Automobile Insurance - FAQ rjvora_2000 Indian Car Loans & Insurance 71 28th October 2015 18:28
P-150 classic for sale .What can i ask for jango Motorbikes 1 31st March 2006 12:51


All times are GMT +5.5. The time now is 23:35.

Copyright ©2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks