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Old 3rd November 2012, 00:01   #2221
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Default Re: Automobile Insurance Queries? Ask me

I got cng endorsed on the RC. They mentioned the kit name as "Lovato", whreas it is Tomasetto. Can this effect the insurance claim if ever made?
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Old 8th November 2012, 12:45   #2222
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ssadwelkar View Post
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?
Yes it is mandatory to provide RC Copy or a new policy in new owner's name to cancel your policy. The new ownership of the vehicle and your selling is best justified by new RC copy. As per law, a vehicle cannot ply on the road without insurance, hence company will never cancel your policy.

In your case talk to the new buyer and request him/her to buy atleast third party liability insurance. Send the same copy to your insurance company and they will cancel your policy as there cant be two policies of the same car. They will also issue your NCB certificate which is valid for 3 years.


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I got cng endorsed on the RC. They mentioned the kit name as "Lovato", whreas it is Tomasetto. Can this effect the insurance claim if ever made?
Get it changed asap. At the time of claim you will face a lot of hassle.
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Old 8th November 2012, 21:13   #2223
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Default Re: Automobile Insurance Queries? Ask me

Guys,
The insurance for my car is due next month. I had a word with the Tata Insurance guys and they said that I'll have to pay a preminum which is more than previous one inspite of NCB. I was told that from now on there is no discount on diesel vehicle by Royal Sundaram(previous policy). They want me to migrate to Oriental which has recently tied up with TATA and giving me 10% discount on that. I just want to be sure if its ok. The vehicle is Dec 2010 model Tata Safari 2.2 VTT GX..Thanks.

Here is the quote...
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Old 8th November 2012, 21:30   #2224
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by F50 View Post
In your case talk to the new buyer and request him/her to buy atleast third party liability insurance. Send the same copy to your insurance company and they will cancel your policy as there cant be two policies of the same car. They will also issue your NCB certificate which is valid for 3 years.
Thanks for your advise, I have sent an email to the buyer requesting him to buy a 3rd party insurance as suggested by you, hope he agrees otherwise I really dont know what to do, he has put me in an awkward situation, I have already booked a new car the delivery of which I am expecting in a couple of months, any suggestions?
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Old 9th November 2012, 21:17   #2225
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Default Re: Automobile Insurance Queries? Ask me

I may have to relocate to US for some time. I plan to give my car to my relative. How can insurance be claimed if the owner is not present? Does power of authority work?
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Old 10th November 2012, 11:12   #2226
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Default Re: Automobile Insurance Queries? Ask me

Guys I need some help. I renewed my car policy with BA and also have the policy number. However I could not find the policy document they sent me by mail. Any idea from where can I download it and if a printed copy is valid?
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Old 10th November 2012, 11:26   #2227
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by akshay380 View Post
Guys I need some help. I renewed my car policy with BA and also have the policy number. However I could not find the policy document they sent me by mail. Any idea from where can I download it and if a printed copy is valid?
Speak to their call center and ask for a duplicate policy statement by email. The copy is also ok, since for any claim, you only need to show the printed copy of the policy. Original remains with you.
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Old 10th November 2012, 12:06   #2228
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ssadwelkar View Post
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.
Hey ssadwelkar, first get the RC transferred!! I hope you realise that legal liabilities on the "sold" vehicle will still be on you? If I were in your shoes, I would ensure the transfer of RC first and then look at the NCB.

For ensuring the transfer, the onus is on you - pester and followup with the purchaser till it is done, or else take the pain and get it done yourself. The effort spent of this will be minuscule compared to the hassle that will follow in case of any unfortunate incident with the "old" vehicle.
In the interim get the delivery note signed if not done yet, and also keep in mind that deliver note is valid for 14 days AFIK, during which time you are expected to notify RTO about the transfer!
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Old 10th November 2012, 13:49   #2229
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Default Re: Automobile Insurance Queries? Ask me

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Hey ssadwelkar, first get the RC transferred!! I hope you realise that legal liabilities on the "sold" vehicle will still be on you? If I were in your shoes, I would ensure the transfer of RC first and then look at the NCB.
I understand what you are saying and I am having sleepless nights, I have sent 100's of messages to the person and called him several times now he says that he is in his native place and will be back after Diwali, what does one do in a situation like this? Can I get the vehicle impounded? Iam planning to go to the RTO on Monday and maybe give them a letter stating that the new owner is not transferring the vehicle on his name. I have the Delivery Note with me and a copy of the buyers Pan Card, how do I transfer the car on his name without him being present?
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Old 10th November 2012, 14:31   #2230
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ssadwelkar View Post
I understand what you are saying and I am having sleepless nights, I have sent 100's of messages to the person and called him several times now he says that he is in his native place and will be back after Diwali, what does one do in a situation like this? Can I get the vehicle impounded? Iam planning to go to the RTO on Monday and maybe give them a letter stating that the new owner is not transferring the vehicle on his name. I have the Delivery Note with me and a copy of the buyers Pan Card, how do I transfer the car on his name without him being present?
Well since you've waited a month another 3-4 days would not hurt.

Yes, will still need his signatures to complete the transfer.

Technically you can get back the vehicle, as a last resort, inform him that you will lodge a complaint that the vehicle is lost, that should do the trick. But going via police comes with its own hassles unless you there is an upright officer in your area. Would suggest you settle it amicably.
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Old 12th November 2012, 08:34   #2231
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Originally Posted by ghodlur View Post
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.
Visited the Future generali office in Thane for renewal of my Insurance policy but unfortunately their CC machine wasnt working. Got the IDV rectified to the correct value (10% depreciation from last years IDV) and got a new quote for Insurance renewal premium, came about to 12K. Got the Insurance renewed through Shreeji Ford & picked up the cover note.
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Old 12th November 2012, 16:05   #2232
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ssadwelkar View Post
Thanks for your advise, I have sent an email to the buyer requesting him to buy a 3rd party insurance as suggested by you, hope he agrees otherwise I really dont know what to do, he has put me in an awkward situation, I have already booked a new car the delivery of which I am expecting in a couple of months, any suggestions?
This is not a good situation to be in. Couple of questions:

1) Is there any dealer involved?
2) Do you know this person well?
3) Have you sent a letter to RTO with a copy of Form 29 & 30 and Delivery Note notifying that you have sold the vehicle?

Dont worry about NCB, it is valid for 3 years. You'll able to use the certificate at the next renewal.
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Old 12th November 2012, 18:19   #2233
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by F50 View Post
This is not a good situation to be in. Couple of questions:

1) Is there any dealer involved?
2) Do you know this person well?
3) Have you sent a letter to RTO with a copy of Form 29 & 30 and Delivery Note notifying that you have sold the vehicle?

Dont worry about NCB, it is valid for 3 years. You'll able to use the certificate at the next renewal.
Dear SS

My suggestion would be a small modification of what has been stated by others.

You can buy a TP Insurance in your name for the vehicle and get your Comprehensive cancelled after that. You can do this easily with your existing insurer as all details should be availble with them. You can let on that you are getting a new car and you want to use the comprehensive for that car, and request for an NCB certificate as well.

If you have copies of the required forms 29 and 30 send a Registered AD mail to the RTO where the car is registered that, you have sold the vehicl3e

For added safety you can send a message to the buyer that you hace cancelled the Comp insurance and that the car now has only a TP Insurance.

After the above you can sleep easy

Best Regards & Drive/Ride safe

Ram
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Old 15th November 2012, 23:59   #2234
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Hi,
Need to renew the insurance for my i10. There was one claim last year and I have zero dep on my current policy which is insured with Royal Sundaram. The renewal quote is INR12000 for an IDV of INR 340000 approx. TATA AIG gave a renewal quote of INR11500 with zero dep and a few other add on's such as towing facility(this isn't available with Royal Sundaram), no NCB loss if the claim is only for plastic/fibre/glass parts and the IDV is around INF354000. Please suggest if there are any other options or important points that I need to consider before renewing the policy. I plan to continue with the zero dep add on but could not find it clearly mentioned in the online quotes offered by other insurance companies.
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Old 19th November 2012, 13:27   #2235
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Default Re: Automobile Insurance Queries? Ask me

Hi,

I am selling my current car and buying a new one. I have the following queries

1. How do I transfer the existing NCB from the old car to the new one?

2. I currently have a policy with Tata-AIG. Do I have to take a policy with Tata-AIG to get a NCB discount for the new car or can I use the NCB certificate with another Insurance company?

3. Generally, how long will the Insurance company take to issue the NCB certificate? (after I submit all requisite documents)

4. I see here that the NCB certificate is valid for 3 years. Assuming, I don't use the NCB while purchasing the new car and intend to use it for renewal, what would be the rate of discount I would get? For example, I have NCB of 20% on my current policy. When I buy a new car and if I use the NCB for renewal of the new car's policy will the total discount be 20% (of old policy) + 25% (of new policy)?
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