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Old 20th November 2012, 22:33   #2236
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Arrow Re: Automobile Insurance Queries? Ask me

Hi

I bought a 2003 Santro. The current insurance cover is provided by ICICI L.
I have not transfered my RC yet, plan to do it within 10 days. Insurance lapses in 30 days. I want to change to BA with a name change done.

Here are my queries.

1. What do I do to get insurance in my name with BA? Just RC, old Insurance with ICICI L, ID proof and vehicle is good enough?
2. The RC book shows Model as Santro XE. The model is actually XP and I think there is no model called XE. Is it compulsory for me to change the model in RC book, there is no original invoice and this was bought in 2003.
3. Can I get the insurance done 15 days in advance and the validity will start from the end of current insurance date?
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Old 21st November 2012, 13:23   #2237
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Default Re: Automobile Insurance Queries? Ask me

I'm still a noob on insurance. I would like to know if I can claim insurance on my in-law's car, which have a front fender dented by a motorcycle, when I had been driving it?

Guess yes? Otherwise please correct me. I have to say that it was driven by my father-in-law and have to get his driving license.

Automobile Insurance Queries? Ask me-img_4600.jpg

Last edited by thoma : 21st November 2012 at 13:24.
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Old 21st November 2012, 17:55   #2238
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by thoma View Post
I'm still a noob on insurance. I would like to know if I can claim insurance on my in-law's car, which have a front fender dented by a motorcycle, when I had been driving it?

Guess yes? Otherwise please correct me. I have to say that it was driven by my father-in-law and have to get his driving license.

Attachment 1017005
As long as your DL is valid (date and class of vehicle) there is no issue. Why contrive?. The cardinal principle of insurance is "utmost good faith"

Best Regards & Drive/Ride Safe

Ram
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Old 23rd November 2012, 09:10   #2239
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Quote:
Originally Posted by ravradha View Post
1. What do I do to get insurance in my name with BA? Just RC, old Insurance with ICICI L, ID proof and vehicle is good enough?
2. The RC book shows Model as Santro XE. The model is actually XP and I think there is no model called XE. Is it compulsory for me to change the model in RC book, there is no original invoice and this was bought in 2003.
3. Can I get the insurance done 15 days in advance and the validity will start from the end of current insurance date?
1. First get the RC transferred to your name. Once done, then buy an Insurance from BA (either online/offline) since the insurance is to expire. The vehicle will be inspected by the BA guys before the insurance is approved. If needed then provide the car documents and old Insurance copy for reference.
2. Since the original invoice is not available, it will be difficult to get the model changed in the RC since the RC tranfer purely happens on the old RC details. if you can get a copy of first purchase invoice, then you can try at the RTO if they can still entertain you for the same.
3. Insurance needs to be taken well in time, in your case if you had the RC changed to your name readily available, buying a policy would not be difficult.

Hope this helps.
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Old 23rd November 2012, 11:59   #2240
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Default Re: Automobile Insurance Queries? Ask me

A question for all.
Does it make sense to go for third party insurance for a six year old car.
The car in question is my Cedia with IDV of 4 lacs. The premium comes around 10-11K.
The spares are expensive at A.S.S. And since April, there is depreciation calculated on the painting costs as well.

Overall, I would be paying Rs. 1000 for claims + depreciation of around 40% on the overall amount.
So, now, should I be paying Rs. 10-11K and then still pay 40% of the damages later on?
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Old 23rd November 2012, 13:22   #2241
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Originally Posted by S_U_N View Post
Does it make sense to go for third party insurance for a six year old car. The premium comes around 10-11K.

Overall, I would be paying Rs. 1000 for claims + depreciation of around 40% on the overall amount.
So, now, should I be paying Rs. 10-11K and then still pay 40% of the damages later on?
If I understood correctly the 10-11K premium is for Comprehensive Insurance, right? Does this not cover the TP liability too? Can you elaborate on what you mean by the last two sentences of your post, I find it confusing.
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Old 26th November 2012, 17:09   #2242
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Originally Posted by ghodlur View Post
If I understood correctly the 10-11K premium is for Comprehensive Insurance, right? Does this not cover the TP liability too? Can you elaborate on what you mean by the last two sentences of your post, I find it confusing.
Well, my thoughts were in the context that after April 2012, depreciation is being charged on painting/ denting work as well.
With a 6 year old car, the depreciation is perhaps 40% (or 50%).
So, after paying Rs. 11000, during claim I need to pay Rs. 1000 (since it is a 2 lt. engine) and almost half of the charges on metal parts, painting, denting etc.
The plastic parts, rubber parts are anyway not covered.

Does it make sense to renew in this context?

Or is it better to just buy simple third party insurance (should not cost more than Rs. 2000 and save that balance of Rs. 11000 - Rs 2000 + Rs 1000 = Rs. 10000 for damages later on?

Just thinking.

Last edited by S_U_N : 26th November 2012 at 17:23.
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Old 26th November 2012, 18:25   #2243
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Default Re: Automobile Insurance Queries? Ask me

Missed the 20 minute edit window. Mods' please merge with above post.

It is very interesting to note that Bajaj Allianz offers lower premium to new customers compared to their existing customers.

On the renewal application, if I pose myself as having a non-Bajaj policy, my premium is Rs. 1000 lesser than the premium when I select the option of renewal of a Bajaj policy.
The sales guy from their office says, we offer special discount for new customers.

So, this is just the opposite of a loyalty bonus.
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Old 26th November 2012, 19:34   #2244
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by S_U_N View Post
A question for all.
Does it make sense to go for third party insurance for a six year old car.
The car in question is my Cedia with IDV of 4 lacs. The premium comes around 10-11K.
The spares are expensive at A.S.S. And since April, there is depreciation calculated on the painting costs as well.

Overall, I would be paying Rs. 1000 for claims + depreciation of around 40% on the overall amount.
So, now, should I be paying Rs. 10-11K and then still pay 40% of the damages later on?
Good thought!

What happens incase of:
1) Total Loss or 75% of the car is totaled
2) Theft
3) Fire

Premium 10k, peace of mind - worthless!
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Old 27th November 2012, 13:37   #2245
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Default Re: Automobile Insurance Queries? Ask me

^ There is always a trade-off.
The probability of the above three is very less compared to an accident with some parts to be repaired/ replaced.

In my case, I would have to bear 40% on metal parts, 40% on painting, 50% on plastic, rubber, fiber and 0% on glass.
Denting and labour charges would be borne by the insurance company.


Anyway, what I heard from TataAIG sales guy today was the compulsory deductible is Rs. 2000 (instead of Rs. 1000 earlier) for 1500 cc and above.
Has this been implemented from April 2012?

Meanwhile, the best quote for my car is Rs. 10400 for an IDV of around Rs. 350000.

This is a huge drop of IDV for me.

Somehow the TataAIG portal field validation does not work out well in any browser for me.
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Old 28th November 2012, 15:30   #2246
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Exclamation Need Help with a Total Loss Scenario.

Hi
I owned a Verito D4, bought on 15 November 2011. I'd renewed the insurance, which is comprehensive not 0-dep., on 15 November 2012 and the value of the car as per New India Assurance was Rs. 4.79L something.
Now almost 10 days after on the night of 25th November, my brother somehow managed to skid the car off the road and into a rocks and trees almost 15 feet below the road level and Verito went almost 40 feet down hill further. No matter how bad the car handles it is definitely built strong and tough. My brother and his friend were not injured, only a few scratches on wrists and hands because of the broken glasses. I am attaching a few picks of the car after accident.
Now, M&M has given an estimate of around 8.33L to the insurance company. Surveyor till now hasn’t arrived to check the car. But it looks to me as a total loss case. Car has a significant under body damage, and if repaired I think it'll need a new body shell as every part on the outside has been damaged almost to the extent of no repair. And, still there is no report on the engine damage. Gear box and chamber are gone for sure. I haven't seen the estimate but will soon and update accordingly.
I need help in figuring out how much money would I get in case the car is written off. I want it written off honestly as the resale of Veritos is already pretty bad and after this I don’t think there would be any! I have read on T-bhp about how I can get the RC cancelled and claim for the remaining onetime tax which for this car was 33k for 15 years.
Confusion I have here is that it was a comprehensive insurance not a 0-dep. so will i still get the full value of 4.80L as stated by insurance company? or would there be any significant cuts and depreciations??
My father bought this car in a hurry after selling my beloved OHC and when we bought this car there were only two options were readily available - Verito and Manza, everything else was on booking, and out of these two only Verito was available in black. So out of two evils I kinda choose the Black one. I was in conversations with a party who was offering me 5L for this and i wanted 5.11L as i'd recently paid for the insurance and I knew that by now, if this accident wouldn’t have happened, I would have closed the deal. I wish I'd settled down for 5L now! but guess it’s too late.
So please please help me with this insurance thing, I have never ever dealt with these guys before. I would really appreciate any help offered.
thank you
Attached Thumbnails
Automobile Insurance Queries? Ask me-verito1.jpg  

Automobile Insurance Queries? Ask me-v2.jpg  

Automobile Insurance Queries? Ask me-v-3.jpg  

Automobile Insurance Queries? Ask me-v-4.jpg  


Last edited by mobike008 : 30th November 2012 at 12:30. Reason: ONLY 2 Smileys per post.
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Old 28th November 2012, 16:15   #2247
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Quote:
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Hi
and the value of the car as per New India Assurance was Rs. 4.79L something.
Now, M&M has given an estimate of around 8.33L to the insurance company. Surveyor till now hasnít arrived to check the car. But it looks to me as a total loss case. Car has a significant under body damage, and if repaired I think it'll need a new body shell as every part on the outside has been damaged almost to the extent of no repair. And, still there is no report on the engine damage. Gear box and chamber are gone for sure. I haven't seen the estimate but will soon and update accordingly.
I need help in figuring out how much money would I get in case the car is written off.
Confusion I have here is that it was a comprehensive insurance not a 0-dep. so will i still get the full value of 4.80L as stated by insurance company? or would there be any significant cuts and depreciations??
Glad to know that your brother has come out of this accident without any major injuries. Can you share how did the car slide down from the road, was there any oil spill or something?

The M&M quote looks quite steep almost same as the new car cost, considering that the engine compartment (the bonnet) looks not so damaged. Can you share the quote details/breakup? Surprising that surveyor hasnt turned up even after 48 hrs of the accident. IMO even the underbody damage would not be that severe. Comprehensive or zero dep does not matter at all if the surveyor confirms that this a total loss in which case you are eligible to get the IDV as mentioned in the policy document. Now New India might act smart and come up with other options but suggest you to stick to your demand of the IDV amount. Anything less is a compromise, all this applicable if the car is declared a total loss.

PS: You have used 4 smilies in the post as against two as per forum rules, pls take care & report to mods to remove the unwanted.
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Old 28th November 2012, 17:11   #2248
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Default Re: Need Help with a Total Loss Scenario.

Quote:
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Can you share how did the car slide down from the road, was there any oil spill or something?
thanks for a prompt reply it was a sharp turn on a slope and he was trying to save a motorcycle, that's what i know. Yes there was, I assume more then 1 kind. I could see diesel as the tank is gone, engine oil and gear oil spill was evident. Engine oil was still leaking at the yard where car is right now. I checked the engine oil levels after accident and there was nothing on the oil dip used to measure oil level. The protection plate has cracked the aluminium chamber that is above it. Silencer has come off. Dont know weather gears are working. There were a lot of big rocks as you might see in the picture and the car came to a hault after breaking a tree that it is standing on in the pictures. And also you cant see the right hand side of the car in these picks it was in worst condition. Both the doors are jammed and there are not only dents but cracks and tears in the metal body. Chassis is bent it was quite obvious when one looked at the car.

Quote:
Originally Posted by ghodlur View Post
The M&M quote looks quite steep almost same as the new car cost, considering that the engine compartment (the bonnet) looks not so damaged. Can you share the quote details/breakup? Surprising that surveyor hasnt turned up even after 48 hrs of the accident. IMO even the underbody damage would not be that severe. Comprehensive or zero dep does not matter at all if the surveyor confirms that this a total loss in which case you are eligible to get the IDV as mentioned in the policy document. Now New India might act smart and come up with other options but suggest you to stick to your demand of the IDV amount. Anything less is a compromise, all this applicable if the car is declared a total loss.
Sounds good that i would get the IDV amount. Parts are costlier for some reason, I know a chevy cruze whose repair estimate was 22L with engine still running. Was sold as scrap for 3.7L
Quote:
Originally Posted by ghodlur View Post
PS: You have used 4 smilies in the post as against two as per forum rules, pls take care & report to mods to remove the unwanted.
sorry, didnt know :|

Last edited by wrongturn : 28th November 2012 at 17:15.
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Old 5th December 2012, 03:05   #2249
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Today I had a Accident at a signal junction at midnight with a Cab. Since no signal was there its difficult to prove whose mistake it is. My car bumper is completely damaged and windshield has developed cracks. I am yet to file FIR police there told me we can do in morning time.

Now the problem is just last week i brought the car from my company and has taken clearance certificate from RTO this Friday. And still I have not applied for registration in my name. So since car is not registered yet in my name Insurance is not transferred yet.

Please answer my query.

1) Will Insurance company reject my claim since Insurance is in Office name, Vehicle is declared as sold in RTO and RTO has given clearance certificated to register the car in another town in my name.
2) Should i file FIR in my name about the accident ?
3) Is there grace period for transfer of insurance after vehicle is sold?

Last edited by shamanth : 5th December 2012 at 03:07.
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Old 5th December 2012, 08:35   #2250
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Quote:
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1) Will Insurance company reject my claim since Insurance is in Office name, Vehicle is declared as sold in RTO and RTO has given clearance certificated to register the car in another town in my name.
2) Should i file FIR in my name about the accident ?
3) Is there grace period for transfer of insurance after vehicle is sold?
Boy, you did the same mistake which many new cars owners do - Drive without valid Insurance papers and car documents. Ideally you should have waited till the car is transferred to your name & then Insurance before you can hit the streets. To answer your queries.

1)Ofcourse your claim will be rejected since the insurance is not yet tranferred to your name for your to claim the damages. Doesnt matter if the RTO record shows sold, its the Insurance policy which the Insurer refers to in case of claims. However you can ask you company to claim the damages till the transfer is done. OR Call up the Insurer to find the procedure to do so.
2. Yes, you should file FIR in your name. But does this help now (since you are still on the losing side), have there been any bodily harm to you or third party? Or whether the Cab is willing to bear the damage repairs? If so then rightfully FIR needs to be filed.
3. Usually the grace period for comprehensive policies are 15 days in case of Insurance transfer or Insurance renewal.
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