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Old 7th January 2013, 08:39   #2281
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Default Re: Automobile Insurance Queries? Ask me

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Tara AIG flatly refuses to switch the policy to TP. What steps can be taken now ?
Check with nationalized banks, they usually accept TP policies.
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Old 8th January 2013, 11:50   #2282
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My Fortuner completes 3 years this 21st. I am looking for a provider other than Reliance whom the dealer has tiedup. I got a quote od 19320/- from the dealer. Last year I paid only 18250/-. I had not claimed in the last 3 years.I logged on to policybazaar and they gave me a quote of 15480/- from Bajaj Alliance and 18589/- from HDFC ERGO. How shall I proceed? Experts please comment? How does Bajaj Alliance fare in their service?
Cheers
DILIP KUMAR
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Old 8th January 2013, 12:41   #2283
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Hi all,
One of my commercial vehicles a Tata Ace HT has its windshield cracked and has a crack/small hole in its front fibre body panel. this happened due to driver error or should I say over smartness and stupidity of my driver who touched the vehicle to a wall while trying to go in reverse uphill from a standstill. Well got a few questions:

1) I have got a commercial vehicle policy from Iffco Tokio so should I claim from them for these parts and if I do how much I will have to pay considering the total to replace this without insurance will come around Rs. 13K.

2) This incident was brought to my notice today morning and it occurred late in the evening/night yesterday so will the company make a fuss for not doing any spot survey?
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Old 8th January 2013, 12:56   #2284
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Quote:
Originally Posted by dilipkumar7278 View Post
My Fortuner completes 3 years this 21st. I am looking for a provider other than Reliance whom the dealer has tiedup. I got a quote od 19320/- from the dealer. Last year I paid only 18250/-. I had not claimed in the last 3 years.I logged on to policybazaar and they gave me a quote of 15480/- from Bajaj Alliance and 18589/- from HDFC ERGO. How shall I proceed? Experts please comment? How does Bajaj Alliance fare in their service?
Dilip,
You need to find out with which Insurers does your service workshop has a cashless tie up and approach the Insurers accordingly. Surprised to see a diff of 3K between the 2 quotes you mentioned, what is that HDFC charging additionally for? Compare the two and find out which one offers more features for value. Bajaj Allianz is an established player in Motor Insurance, the reviews on the forum are mixed.

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Hi all,
1) I have got a commercial vehicle policy from Iffco Tokio so should I claim from them for these parts and if I do how much I will have to pay considering the total to replace this without insurance will come around Rs. 13K.
2) This incident was brought to my notice today morning and it occurred late in the evening/night yesterday so will the company make a fuss for not doing any spot survey?
@richie4u - You can claim the windshield replacement from your Insurance, I'm sure the policy would be more or less same for commercial & passenger vehicles. Get a quote from Tata workshop and if your Insurer has cashless tie up, then you will get full reimbursement as the depreciation for glass is nil. No issues if you report it a bit late, ensure that the vehicle is not operational till the surveyor inspects the damage.
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Old 10th January 2013, 11:16   #2285
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Default Re: Automobile Insurance Queries? Ask me

Dear Friends

My baleno met with an accident on the way to goa last week. Thankfully that there has not been any major damage to me and my wife in the car, though a bit shaken with swollen feet and minor bruises.

The car was towed to RNS Motors, Hubli & my insurance provider Bajaj Allianz agreed to have a look at the car the next day.

Many thanks to team-bhpian Shan2nu who made us very comfortable by helping us during our bad times. We were a bit shaken and completely clueless on what had to be done as this was my first accident. Shan2nu knew the managers at RNS and ensured that everything was alright until we left hubli.

Coming to the insurance part, my IDV was 2.4 lakhs for Baleno 2005 Lxi model. The initial repair estimate give by MASS was 1.45 lakhs

After the insurance survey, the amount was brought down to 1 lakh (Don't really know the reason, need to check with MASS), the liability was as follows.

Total = 1 lakh
Liability for insurance company - 65000/-
Liability for me - 35000/-


I am emotionally attached to this car, but at the same time I am not really sure if the car would be up to its running condition again & fear the cost can go up substantially once I take the vehicle out after the insurance claim. Some of the parts like steering pump cost around 45k for baleno and if broken, it will be known only when they open up the car.

Can someone please explain what is a total loss, as per Bajaj Alliance for a car to be considered as total loss, the liability for the insurance company should be 70% of the IDV, it seems the liability from my side is not taken into account.

I also discussed the option of cash settlement + scrapping the car, but the amount the insurance provider is ready to give as cash settlement is 40k (I somehow feel It is way too less), don't really know why i have been paying such high premium of 8k-9k.

Please advise.

Rgds,

Last edited by Mr_Bean : 10th January 2013 at 11:22.
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Old 10th January 2013, 12:00   #2286
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Originally Posted by Mr_Bean View Post
Can someone please explain what is a total loss, as per Bajaj Alliance for a car to be considered as total loss, the liability for the insurance company should be 70% of the IDV, it seems the liability from my side is not taken into account.

I also discussed the option of cash settlement + scrapping the car, but the amount the insurance provider is ready to give as cash settlement is 40k (I somehow feel It is way too less), don't really know why i have been paying such high premium of 8k-9k.
Mr_Bean,

Sad to know about your accident, but also glad to know you have come out of it pretty safely. Wish you a speedy recovery for the minor injuries.

Have you cross checked in the policy document whether it says 70% of the IDV? generally with all Insurers it is 75% of the IDV. Also its not the liability of the Insurance co only to be 70% of IDV but the aggregate cost of repair of the vehicle after which based on the depreciation your liability is calculated.

But in your case even the initial repair quote was around 60% so this cant be considered a Total loss. Since you are attached to the car why even consider scrapping it. If MASS is unable to repair the same or if the repair quote increases beyond the 75% of IDV, then the Insurer might consider it as total loss.
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Old 10th January 2013, 13:22   #2287
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Originally Posted by ghodlur View Post
Mr_Bean,


But in your case even the initial repair quote was around 60% so this cant be considered a Total loss. Since you are attached to the car why even consider scrapping it. If MASS is unable to repair the same or if the repair quote increases beyond the 75% of IDV, then the Insurer might consider it as total loss.
Thanks Ghodlur for the inputs and advice, now that total loss is ruled out, what is the option of cash settlement + scrapping the car?

How do they arrive at a figure?
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Old 10th January 2013, 14:05   #2288
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Originally Posted by Mr_Bean View Post
now that total loss is ruled out, what is the option of cash settlement + scrapping the car?
How do they arrive at a figure?
The option is no longer with the Insurer but with you. The Insurer will be wanting to get the car repaired and pay their liability rather than pay the cash settlement+ scrapping the car. They would offer lowest cash settlement possible since they have an upper hand now. If you go for the option you will lose a substantial amount which will be far less than the IDV. The calculation part I am unaware, depends upon the Insurer to Insurer. Sorry mate, here I have a hit a wall.
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Old 10th January 2013, 14:15   #2289
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Default Re: Automobile Insurance Queries? Ask me

Hi All,

Can a three year old car be insured with a zero-dep policy, because I got a feedback from ICICI Lomabard that they do not offer zero-dep (bumper-bumper) policy for cars more that 2 year old and also no zero-dep for Maruti and TATA cars.

Is this true ?

Regards,

Cannon
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Old 12th January 2013, 02:06   #2290
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Default Re: Automobile Insurance Queries? Ask me

I also have a similar question. My car's insurance is coming up for renewal and ICICI says they won't do 0 dep on a car older than 3 years (i've had 0 dep for the past 3 years on the car). Does anyone know of another reliable insurance company that offers 0 dep for my chevy beat? Or if not that, at least something other than 20% dep? Thanks a lot!
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Old 12th January 2013, 04:12   #2291
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by dilipkumar7278 View Post
My Fortuner completes 3 years this 21st. I am looking for a provider other than Reliance whom the dealer has tiedup. I got a quote od 19320/- from the dealer. Last year I paid only 18250/-. I had not claimed in the last 3 years.I logged on to policybazaar and they gave me a quote of 15480/- from Bajaj Alliance and 18589/- from HDFC ERGO. How shall I proceed? Experts please comment? How does Bajaj Alliance fare in their service?
Cheers
DILIP KUMAR

From our experience, Bajaj Alliance found every reason to not pay up when the amount due was 125000. A friends car had caught fire when it was parked in the portico of his house and they refused payment stating that he had changed his headlamps. The head lamps as well as the wiring kit was changed indeed, but the relays, the fuses etc. were in place and the system had not been bypassed. They just found a reason not to pay. They were not willing to give anything in writing as to why they did not want to pay.

I did ask how their surveyor who was just a fresh graduate in commerce was able to certify that this fire indeed had occurred due to the changed headlamps and that there were other expert electricians willing to give in writing, that there is no certainty that the fire was caused by this reason alone. There were other issues which raised doubts as to the cause of the fire. They just did not budge. IRDA too was no help. I have not heard from them in a year. They were to report back in three to six months. This was what I was told.

Hence, you please decide what is the quality of the relationship of the service centre with the surveyors from the company you are going to purchase the insurance.

God Luck. I have a request to make as you are on TBHP. Please do not join the group of fortuner terrorists who care little for other smaller participants in the traffic. I am sure you ride with dignity and grace and not like the politicos and the crude dons.

Thanks.
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Old 12th January 2013, 12:14   #2292
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by dilipkumar7278 View Post
I logged on to policybazaar and they gave me a quote of 15480/- from Bajaj Alliance and 18589/- from HDFC ERGO. How shall I proceed? Experts please comment? How does Bajaj Alliance fare in their service?
Cheers
DILIP KUMAR
Call up Bajaj Allianz directly, they may give better quote than offered by policy bazaar. In my case,I found direct calling was best way to get lowest rate.
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Old 12th January 2013, 22:55   #2293
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Originally Posted by ani_meher View Post

Call up Bajaj Allianz directly, they may give better quote than offered by policy bazaar. In my case,I found direct calling was best way to get lowest rate.
THAT is always the best option. After all Policy Bazaar is also an agent right? I too got the best quote directly from BA, plus the option of paying in EMI.
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Old 13th January 2013, 10:46   #2294
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Default Re: Automobile Insurance Queries? Ask me

Slightly - but looks like having a friend or having a driver would affect claim handling if the proposals (see link) are accepted!! The other proposals are something that would reward a good driver.

See http://www.business-standard.com/ind...-fy14-/497454/
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Old 18th January 2013, 14:08   #2295
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by bbyf16 View Post
I also have a similar question. My car's insurance is coming up for renewal and ICICI says they won't do 0 dep on a car older than 3 years (i've had 0 dep for the past 3 years on the car). Does anyone know of another reliable insurance company that offers 0 dep for my chevy beat? Or if not that, at least something other than 20% dep? Thanks a lot!
Bajaj Allianz and Bharti AXA offers Zero Dep for 5 years.

Just compare the premium you are paying for Zero Dep vs Comprehensive and also look at the number of claims in last 3 years. If you are a safe driver, would suggest go for Comprehensive.


Quote:
Originally Posted by whitewing View Post
Slightly - but looks like having a friend or having a driver would affect claim handling if the proposals (see link) are accepted!! The other proposals are something that would reward a good driver.

See http://www.business-standard.com/ind...-fy14-/497454/
Good initiative but doubt how many are going to disclose about it.

1) Traffic Violations - Most of them try to finish it off by paying Rs 100 without challan

2) Alcohol - Dont know how many are going to disclose how many litres they drink per week.
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