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Old 3rd February 2013, 17:57   #2326
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Originally Posted by AbhiJ View Post
My CRV is completing its 5 years in March, and I want a Zero Dep cover for it. My current insurer (Bajaj) refuses to cover the car under Zero Dep due to its age. Does anyone know which company will offer the same ?
Sorry mate, I guess no Insurance co presently offers zero dep for cars aged more than 5 yrs. There are few Insurance co like Bharat Axa and Berkshire co which offer zero dep add on for the cars upto 5 yrs of age. Since you will already complete 5 yrs in March you will not be eligible for the same. I guess you will have to go for normal comprehensive policy only.
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Old 3rd February 2013, 18:04   #2327
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Originally Posted by ghodlur View Post
Sorry mate, I guess no Insurance co presently offers zero dep for cars aged more than 5 yrs. There are few Insurance co like Bharat Axa and Berkshire co which offer zero dep add on for the cars upto 5 yrs of age. Since you will already complete 5 yrs in March you will not be eligible for the same. I guess you will have to go for normal comprehensive policy only.
Thanks. But one Honda dealership is saying Honda Assure will offer Zero Dep! Thats why I am a bit confused.

Also I saw this post http://www.team-bhp.com/forum/indian...ml#post2388482 (Tata AIG's 0% Depreciation Car Insurance) so was wondering
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Old 3rd February 2013, 18:33   #2328
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Hi I need to renew my Figo's Insurance, Mfd Date is Oct 2011, Rgdn Date Feb 23rd 2012. IDV is 457,827. I have gotten 2 quotes form Reliance.
1) 8900/- comprehensive insurance
2) 11,900/- for their Zero Dep plan

Also Reliance has a Total Cover
Quote:
Normal Insurance Cover pays only for the Depreciated Car value in theft or damage total loss. Road Tax, Registration Cost and Insurance premium together form about 15%-20% of the total On Road Cost, which does not get reimbursed if vehicle stolen or damaged beyond repair.

Now by including the value of Road Tax, Registration Cost and Insurance premium through our Add On - Total Cover - you can protect yourselves against such financial setbacks and Rest Assured.

In the event of Total Loss, due to Accident or Theft, a value proportionate to such costs would be reimbursed.
Total Insurance Plan
I am inclined to got for the Zero dep, but someone suggested to wait for Videcon Liberty insurance to start their offerings in Feb.

My policy lapses on Feb 23rd 2013. Please advise if adding the total cover is worth it?

Last edited by neofromcapone : 3rd February 2013 at 18:36. Reason: added URL
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Old 4th February 2013, 09:23   #2329
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Quote:
Originally Posted by AbhiJ View Post
Thanks. But one Honda dealership is saying Honda Assure will offer Zero Dep! Thats why I am a bit confused.

Also I saw this post http://www.team-bhp.com/forum/indian...ml#post2388482 (Tata AIG's 0% Depreciation Car Insurance) so was wondering
Thats surprising coz Tata AIG website says the zero dep cover is available for cars upto 3 yrs from purchase. Can you PM the BHPian to get more detail as the post if 2011 dated. Also the screen shot shows 2010 as car mfg. Very confusing. Have a chat with Tata AIG rep for clarifications.

Quote:
Originally Posted by neofromcapone View Post
Hi I need to renew my Figo's Insurance, Mfd Date is Oct 2011, Rgdn Date Feb 23rd 2012. IDV is 457,827. I have gotten 2 quotes form Reliance.
1) 8900/- comprehensive insurance
2) 11,900/- for their Zero Dep plan
How's your experience with Reliance Insurance been coz I have heard some horror stories from my colleagues when they had gone for claim settlement. Reliance offers lesser premium that others but the service is a big question. Why dont you search online or a do comparison online for renewals. You will be surprised to see the difference. Try Royal Sundaram, Bajaj Allianz, Future generali, Tata AIG etc but opt for the one which has a cashless tie up with Ford workshop.
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Old 4th February 2013, 13:32   #2330
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by AbhiJ View Post
My CRV is completing its 5 years in March, and I want a Zero Dep cover for it. My current insurer (Bajaj) refuses to cover the car under Zero Dep due to its age. Does anyone know which company will offer the same ?
Yes as of now companies are offering till 5 years only. Bajaj Allianz, Bharti Axa, Liberty Videocon offer for 5 years.

Quote:
Originally Posted by AbhiJ View Post
Thanks. But one Honda dealership is saying Honda Assure will offer Zero Dep! Thats why I am a bit confused.
Some dealers have special tie-ups or else they are offering Zero Dep under their own name and not some insurance company's offering.

Double check everything before you pay.

Btw, why are you keen on getting Zero Dep after 5 years? The premium will be on a higher side. If you are a safe driver and not claimed in last 5 years then better opt for comprehensive policy. Roughly your Zero Dep premium would be additional 50% of your comprehensive premium.


Quote:
Originally Posted by ghodlur View Post
Sorry mate, I guess no Insurance co presently offers zero dep for cars aged more than 5 yrs. There are few Insurance co like Bharat Axa and Berkshire co which offer zero dep add on for the cars upto 5 yrs of age. Since you will already complete 5 yrs in March you will not be eligible for the same. I guess you will have to go for normal comprehensive policy only.
Berkshire is a corporate agent of Bajaj Allianz so eventually its a BA insurance.

Edit - adding reply

Quote:
Originally Posted by neofromcapone View Post
Hi I need to renew my Figo's Insurance, Mfd Date is Oct 2011, Rgdn Date Feb 23rd 2012. IDV is 457,827. I have gotten 2 quotes form Reliance.
1) 8900/- comprehensive insurance
2) 11,900/- for their Zero Dep plan

My policy lapses on Feb 23rd 2013. Please advise if adding the total cover is worth it?
Since the difference is not much, go for Zero Dep.

Last edited by F50 : 4th February 2013 at 13:42.
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Old 7th February 2013, 15:20   #2331
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Default Re: Automobile Insurance Queries? Ask me

Hello All,

Just a query that stemmed in my mind now after going through another thread-

Say, I ram my vehicle into another and ask the affected person to raise a claim with my insurance company. Now considering, I had a 50% NCB at that time, will that be reset after the claim is made by the third party? Please advice. Thanks.

-Shivang Gandotra

Last edited by MetalBuff : 7th February 2013 at 15:25.
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Old 7th February 2013, 16:05   #2332
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Default Re: Automobile Insurance Queries? Ask me

Guys I have a query
1.I have a i10 on company lease and hence the car and insurance policy is in the lease co name

2. I haven't claimed under the policy and hence does the NCB accrue to me ?

3. I plan to buy back the car and sell it to some one without transferring to my name. Will the buyer be able to enjoy the same insurance coverage till its expiry ?
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Old 7th February 2013, 16:24   #2333
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Quote:
Originally Posted by narayan View Post
Guys I have a query
1.I have a i10 on company lease and hence the car and insurance policy is in the lease co name

2. I haven't claimed under the policy and hence does the NCB accrue to me ?

3. I plan to buy back the car and sell it to some one without transferring to my name. Will the buyer be able to enjoy the same insurance coverage till its expiry ?
As and when you sell the car the insurance can also be transferred to the buyer but the NCB won't be passed. Moreover he'll have to pay the current NCB on your insurance to get the insurance transferred. Not the entire NCB but on pro data basis for the time remaining in the policy. Also photographs are taken by the insurance company at the time of transfer.
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Old 12th February 2013, 12:43   #2334
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by MetalBuff View Post
Hello All,

Just a query that stemmed in my mind now after going through another thread-

Say, I ram my vehicle into another and ask the affected person to raise a claim with my insurance company. Now considering, I had a 50% NCB at that time, will that be reset after the claim is made by the third party? Please advice. Thanks.

-Shivang Gandotra
No your NCB is not affected as NCB is given only on the OD part of the policy.

Quote:
Originally Posted by narayan View Post
Guys I have a query
1.I have a i10 on company lease and hence the car and insurance policy is in the lease co name

2. I haven't claimed under the policy and hence does the NCB accrue to me ?

3. I plan to buy back the car and sell it to some one without transferring to my name. Will the buyer be able to enjoy the same insurance coverage till its expiry ?
2. No the NCB goes to the leasing company

3. New buyer will enjoy same coverage minus the NCB
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Old 12th February 2013, 15:55   #2335
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Hi Team,
I have this query on my new i20 Insurance. I bought the 0% depreciation insurance on my own from ICICI and provided the details to the Dealer for registration.

1) The Insurance was supposed to be claculated on 5% depreciation of the Ex-Showroom Price. Is this normal/correct?
2) The Agent marked the IDV value at around 7k less than actual 95% of the ExShowroom price. Will this have any negative effect? Should I get this corrected?
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Old 12th February 2013, 18:46   #2336
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The Agent marked the IDV value at around 7k less than actual 95% of the ExShowroom price. Will this have any negative effect? Should I get this corrected?
Ok here is one update. I called the agent questioning the lower IDV value (should have done it at the time of taking the insurance itself ). He says that they do not consider the market (ex-showroom) price but refer to the production cost of the vehicle which is lower by some percentage.
Now I add to my previous question. Is this true or the Agent just trying to justify his doing?
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Old 12th February 2013, 20:57   #2337
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My first year insurance with Future Generali is about to expire and I am wondering if I should renew with them. I haven't read good things about claims being handled by them. Also, I want a zero depreciation policy that offers the highest IDV. What are my options?

The car is 11 months old Fiat Punto 90HP with no claims.

When I renewed my bike Insurance with Reliance recently, they allowed me to pay INR 200 extra to increase the IDV by 10K. Does any car insurance allow one to do that?
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Old 13th February 2013, 09:12   #2338
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Quote:
Originally Posted by vidyanand View Post
1) The Insurance was supposed to be claculated on 5% depreciation of the Ex-Showroom Price. Is this normal/correct?
2) The Agent marked the IDV value at around 7k less than actual 95% of the ExShowroom price. Will this have any negative effect? Should I get this corrected?
@vidyanand
It has been discussed at lenght in this thread that the IDV calculation is based on the depreciation/year times the exshowroom cost of the vehicle. So the first Insurance is ideally at 5% of the exshowroom cost. Since the Insurance was bought by you I assume through an agent you should have ensured the correct IDV for the car. If the agent has wrongly mentioned the IDV, you can contact the Insurance co and request for an correction. I am sure they can change it, this can mean an additional amount on the premium payment.
Quote:
Originally Posted by Pedaltothefloor View Post
I haven't read good things about claims being handled by them. Also, I want a zero depreciation policy that offers the highest IDV. What are my options?
If your sources are accurate, then you can change the Insurer. You are getting confused between zero dep and IDV. No way they are linked. Zero dep is an add on component which means extra premium amount. This is not going to change the IDV of the car. You do have an option to tweak the IDV of the car but only to a certain extent and if being renewed online. Higher IDV means more premium and addition of the zero dep option shoots the premium to a substantial amount. You need to take a call on that.
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Old 13th February 2013, 10:39   #2339
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by Pedaltothefloor View Post
My first year insurance with Future Generali is about to expire and I am wondering if I should renew with them. I haven't read good things about claims being handled by them. Also, I want a zero depreciation policy that offers the highest IDV. What are my options?

The car is 11 months old Fiat Punto 90HP with no claims.

When I renewed my bike Insurance with Reliance recently, they allowed me to pay INR 200 extra to increase the IDV by 10K. Does any car insurance allow one to do that?
I had my first year insurance with Future Generali. I made a claim. The response was good and I did not face any issues with them. I would have continued with them, if only they have a cashless tie-up with the Volkswagen workshop.
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Old 13th February 2013, 15:23   #2340
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Is there any time limit (starting from the date the damage occured) stipulated by the regulatory body within which an insurance claim can be made? Or do insurance companies set their own time limits? Does such a time limit even exist?
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