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Old 19th January 2013, 01:42   #2296
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by F50 View Post
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.
Thanks for the reply. Any preferences on either bajaj or bharti axa? While in the past two years I haven't had any accidents (knock on wood), I don't feel like taking the risk by getting comprehensive. At 50% dep on airbags, one small accident could easily make up the difference between the two. I'd rather have the piece of mind.
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Old 25th January 2013, 11:55   #2297
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Default Re: Automobile Insurance Queries? Ask me

My cars insurance is up for renewal in a months time. I have few questions.

So far I had bought insurance from Chola MS. This company has no tie up with the workshop where I service my car. But still the site says cashless claims available. So what happens if my car meets with an accident (touch wood) and I have to make a claim. So wouldn't these guys be providing me cashless facility if they don't have tie up with the workshop?

Also, I enquired with workshop, and they say Ford has notified them about tie up with Bajaj Allianz, New India and Royal Sundaram. My question is, is it the company, Ford, that does the tie up with insurance companies or the individual workshop themselve that do the tie ups? When I bought the car, this workshop had tie up with ICICI Lombard but not Royal Sundaram. Seems they have changed one company.
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Old 25th January 2013, 12:08   #2298
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But still the site says cashless claims available. So wouldn't these guys be providing me cashless facility if they don't have tie up with the workshop?

Also, I enquired with workshop, and they say Ford has notified them about tie up with Bajaj Allianz, New India and Royal Sundaram. My question is, is it the company, Ford, that does the tie up with insurance companies or the individual workshop themselve that do the tie ups? When I bought the car, this workshop had tie up with ICICI Lombard but not Royal Sundaram. Seems they have changed one company.
@Shipnil,

If the Chola site says that they have cashless tie up with Ford then you can enquire the same by dropping a mail to Ford customer care. If Ford confirms the same then the workshop will have to provide cashless claim settlement. If the Workshop still refuse to do so, highlight the same to Ford. If the w/s does not have the cashless settlement with Chola then you will have to pay upfront to Ford first and then claim it from Chola.

Generally the manufacturers have a tie up with Insurance companies and not the workshops and depending upon the arrangement, car manufacturers can change Insurers with whom they can offer cashless tie ups. This in a way ensures business for the Insurance co from the manufacturers brand vehicles.
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Old 25th January 2013, 12:31   #2299
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Default Re: Automobile Insurance Queries? Ask me

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@Shipnil,

If the Chola site says that they have cashless tie up with Ford then you can enquire the same by dropping a mail to Ford customer care. If Ford confirms the same then the workshop will have to provide cashless claim settlement. If the Workshop still refuse to do so, highlight the same to Ford. If the w/s does not have the cashless settlement with Chola then you will have to pay upfront to Ford first and then claim it from Chola.
Thanks ghodlur! Well, last year, while renewing, I recollect seeing 'Cashless facility' available mentioned generally without any manufacturer name. I had spoken to an sales executive also and he said the process will be seamless. So I had assumed that I don't have to check what tie ups Ford has with insurance companies. Looks like I was wrong. May be I need to be careful while renewing.

BTW, what is your take on Voluntary Excess? Bajaj Allianz is quoting about 7500 if I take a voluntary excess of 2500 otherwise it is 9450 rupees.
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Old 25th January 2013, 12:47   #2300
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Default Re: Automobile Insurance Queries? Ask me

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Also, I enquired with workshop, and they say Ford has notified them about tie up with Bajaj Allianz, New India and Royal Sundaram. My question is, is it the company, Ford, that does the tie up with insurance companies or the individual workshop themselve that do the tie ups? When I bought the car, this workshop had tie up with ICICI Lombard but not Royal Sundaram. Seems they have changed one company.
Best bet is to call up your favourite workshop and ask which company has tie-up with them. Renew with the same company.

Manufacturers directly don't have tie-up with companies. Individual dealers make tie-up with whichever company offers best services, in all terms. When a company pulls out this cashless tie-up with a dealer when their labour charges etc are well above reasonable charges charged by other dealers of the same manufacturer.

Example: Vitesse (Mumbai) has cashless tie-up with only 2 companies. Reason? Their labour charges are pretty high compared to say Sai Service or Fort Point.

Edit:

Quote:
Originally Posted by shipnil View Post

BTW, what is your take on Voluntary Excess? Bajaj Allianz is quoting about 7500 if I take a voluntary excess of 2500 otherwise it is 9450 rupees.
Dont opt for higher excess

Last edited by F50 : 25th January 2013 at 12:53.
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Old 25th January 2013, 13:14   #2301
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what is your take on Voluntary Excess?
Voluntary excess is one way of reducing your Insurance premium when you are confident that you are a safe driver and will not have any claims(major) in the policy year. Insurers benefit in cases when the claim is major and their contribution is substantially reduced

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Individual dealers make tie-up with whichever company offers best services, in all terms. When a company pulls out this cashless tie-up with a dealer when their labour charges etc are well above reasonable charges charged by other dealers of the same manufacturer.
I would like to disagree here. IMO the labour charges incurred by the workshop/dealer is also claimed from the car manufacturers where there is a cashless settlement. In all other claim settlements the labour costs with be charged to the customer. Will find more about this.
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Old 25th January 2013, 14:56   #2302
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Default Re: Automobile Insurance Queries? Ask me

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I would like to disagree here. IMO the labour charges incurred by the workshop/dealer is also claimed from the car manufacturers where there is a cashless settlement. In all other claim settlements the labour costs with be charged to the customer. Will find more about this.
Let me simplify it.

A cashless setup means reduced documentation and other trouble faced during a normal claim. In cashless, customer does not have to pay anything apart from Excess and difference in charges for plastic and rubber parts, consumables etc. Insurance company directly pays to the dealer or issues a cheque to the customer if he chose to reimburse the claim.

Now, a company can enter into a cashless setup when they agree with their labour charges. Prices of parts are usually uniform among all dealers. The only problem arises when the labour charges vary.

Example: Vitesse charges 500(horn) + 350 (labour charges) for changing a horn. Sai Service charges 500(horn) +250 (labour charges) and Fort Point charges 200 as labour charges. Insurance company has the right not to have a cashless setup with Vitesse as their labour charges are very high compared to what other Maruti dealers are charging. In such case, if your car goes to Vitesese for repairs, insurance company will only pay ~80% of the claim.
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Old 26th January 2013, 15:09   #2303
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Default Depreciation to Apply on Painting

Guys,

Recently heard that IRDA is working on a proposal to apply the depreciation rate on the cost of painting as well - not too clear if it will be on the cost of paint only or whether it will be on the painting charges as well. Thechnically it shouldn't be on the charges at least.

Hope the news is not true (as a vehicle owner)

Best Regards & Drive/Ride Safe

Ram
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Old 26th January 2013, 17:27   #2304
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Quote:
Originally Posted by r_nairtvm View Post
Guys,

Recently heard that IRDA is working on a proposal to apply the depreciation rate on the cost of painting as well - not too clear if it will be on the cost of paint only or whether it will be on the painting charges as well. Thechnically it shouldn't be on the charges at least.

Hope the news is not true (as a vehicle owner)

Best Regards & Drive/Ride Safe

Ram
Already done.My friend got his car's both bumpers painted , 2010 model i20.
Paint Depreciation charged Rs.910.
Insurance from TATA AIG.
An other added benefit on the Zero Depreciation policies .

Last edited by k2max6 : 26th January 2013 at 17:29.
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Old 26th January 2013, 21:27   #2305
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Default Re: Automobile Insurance Queries? Ask me

I checked out insurance rates for both bajaj allianz and bharti axa for my 2010 chevy beat LT(O) with 0% depreciation, NCB 25%. Bajaj is charging rs. 9860 (IDV 3 lakhs) and bharti (IDV 2.79 lakhs) is charging 7400. Personally, I'm leaning towards bajaj as they're a bigger and more reputable brand. Also, axa doesn't seem to have any tie-ups with chevy dealers in vadodara or ahmedabad. However, i'm just concerned with how good bajaj is in vadodara or ahmedabad. Does anyone have any experience?

Last edited by bbyf16 : 26th January 2013 at 21:40. Reason: addition
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Old 28th January 2013, 11:32   #2306
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by bbyf16 View Post
I checked out insurance rates for both bajaj allianz and bharti axa for my 2010 chevy beat LT(O) with 0% depreciation, NCB 25%. Bajaj is charging rs. 9860 (IDV 3 lakhs) and bharti (IDV 2.79 lakhs) is charging 7400. Personally, I'm leaning towards bajaj as they're a bigger and more reputable brand. Also, axa doesn't seem to have any tie-ups with chevy dealers in vadodara or ahmedabad. However, i'm just concerned with how good bajaj is in vadodara or ahmedabad. Does anyone have any experience?
Bajaj Allianz's rates are quite but they provide quality service. Try getting quotes from Future Generali or Tata AIG (provided they have cashless with the dealer) Their rates are on lower side.

Edit: Just read its a 2010 model. Bajaj and AXA are the only two options. When is your renewal? Because Liberty Videocon is launching in the first week of Feb '13 and they do offer Zero Dep upto 5 year old cars.

Last edited by F50 : 28th January 2013 at 11:34.
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Old 28th January 2013, 23:50   #2307
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thanks for the input. I think i'll stick to bajaj allianz. Not really confident of trying out a new insurance carrier especially with no reviews and no track record. Plus, i'm sure it'll take months for dealers to start cashless services with them. Thanks for the input guys!
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Old 29th January 2013, 09:07   #2308
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Quote:
Originally Posted by r_nairtvm View Post
Recently heard that IRDA is working on a proposal to apply the depreciation rate on the cost of painting as well - not too clear if it will be on the cost of paint only or whether it will be on the painting charges as well.
Your worst fears are confirmed. Attached is the latest IRDA ruling regarding the depreciation on cost of painting. However it says that the ruling will be applicable on motor policies whose risk inception falls on or after 01st Feb 2013.
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Old 29th January 2013, 11:55   #2309
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Default Re: Depreciation to Apply on Painting

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Your worst fears are confirmed. Attached is the latest IRDA ruling regarding the depreciation on cost of painting. However it says that the ruling will be applicable on motor policies whose risk inception falls on or after 01st Feb 2013.
Thanks Ghodlur.

I think the guidelines from IRDA is sensible as they are taking a middleground in identifying the two elements separately.

But see post from K2mx6 below - interesting that Insurers have already started doing this.

Best Regards and Drive/Ride Safe

Ram
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Old 29th January 2013, 20:18   #2310
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Hi folks, I had a query on whether I can get a insurance claim for replacement of a part without any accident or damage to the car ?

I have a 2007 Honda Civic which recently came up with an issue related to the steering assembly.
The Honda Service Centre guys say that the bill can endup anywhere between 40,000 to 80,000 depending upon what part to change.

The main issue with the car is that, there is a oil leak from the steering pump, which was probably caused by a stone hitting the steering pump of the car.

So can I get an insurance claim if I get the pump or the steering assembly replaced from an Authorised Honda Service Centre ?
Or will I have to prove that the car met with an accident or something ?

Can anyone suggest me with a way out of this situation ?

Thanks.
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