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Old 25th April 2013, 19:43   #2431
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Does the compulsory deduction increase in case the policy is a 0% Dep Policy? I renewed the policy of my 2011 Vento today with an IDV value of Rs 6,23,000 and they charged me a Premium of Rs 23,832 (0% Dep policy without Engine Protection) from Bajaj Allianz. They informed me and took it in writing that the Compulsory deduction on this Policy will be Rs 5000 if I make a 0% Dep Claim. Can you please provide some insights on this? Thanks
No compulsory deductible is not linked to the zero dep. Few post earlier there is a IRDA circular attachment which says that for vehicles with engine cc >1500 the amount to be charged as compulsory deductible is Rs 2000/-, you need to contact Bajaj Allianz and ask them why the amount would be Rs 5000/-. You need to revoke the undertaking which you signed.
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Old 26th April 2013, 12:52   #2432
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No compulsory deductible is not linked to the zero dep. Few post earlier there is a IRDA circular attachment which says that for vehicles with engine cc >1500 the amount to be charged as compulsory deductible is Rs 2000/-, you need to contact Bajaj Allianz and ask them why the amount would be Rs 5000/-. You need to revoke the undertaking which you signed.
Thanks for your response. I got the hard copy of the insurance today. The Compulsory deduction is showing as Rs 2000 and there is one more field which says "Voluntary Excess" : Rs 5000. I spoke to the Branch Manager and he says that the Compulsory Deduction is Rs 2000 only and as I have taken a 0% Dep policy from Bajaj they will be changing me Rs 3000 extra on every claim (Total - Rs 5000). He says its their policy. I am not sure if other Insurance companies also do this or its just Bajaj. Let me know if this is a general practice or i need to take up this matter with their higher ups? Thanks again
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Old 26th April 2013, 13:28   #2433
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Thanks for your response. I got the hard copy of the insurance today. The Compulsory deduction is showing as Rs 2000 and there is one more field which says "Voluntary Excess" : Rs 5000. I spoke to the Branch Manager and he says that the Compulsory Deduction is Rs 2000 only and as I have taken a 0% Dep policy from Bajaj they will be changing me Rs 3000 extra on every claim (Total - Rs 5000). He says its their policy. I am not sure if other Insurance companies also do this or its just Bajaj. Let me know if this is a general practice or i need to take up this matter with their higher ups? Thanks again
I dont know if the term Voluntary Excess is same as the Voluntary deductible, if so then BA had slyly dumped on you the voluntary deductible option and showed you lesser premium. This means that in case of a claim apart form the compulsory deductible of Rs 2000/- you will be shelling out Rs 5000/- from your pocket toward the claims while the rest of the charges will be borne by the BA. Have a word with BA and ask them for clarifications with a slightly more sterner voice.
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Old 26th April 2013, 15:49   #2434
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I dont know if the term Voluntary Excess is same as the Voluntary deductible, if so then BA had slyly dumped on you the voluntary deductible option and showed you lesser premium. This means that in case of a claim apart form the compulsory deductible of Rs 2000/- you will be shelling out Rs 5000/- from your pocket toward the claims while the rest of the charges will be borne by the BA. Have a word with BA and ask them for clarifications with a slightly more sterner voice.
Thanks ghodlur..I will take this up with BA and see if i can get this reversed..Thanks again for your inputs.
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Old 27th April 2013, 10:28   #2435
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Guys i am looking for a new insurance company as my fortuner has completed 1 year now. Got a call from hdfc bank and they have 2 plans :

1. Normal insurance = 28k
2. Bumper to bumper = 35k

May i know if there is any other company that i should go for ..like for eg Tata Aig? And why? Also what is this 'bumper to bumper'?
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Old 28th April 2013, 09:23   #2436
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Originally Posted by ethan3686 View Post
Guys i am looking for a new insurance company as my fortuner has completed 1 year now. Got a call from hdfc bank and they have 2 plans :

1. Normal insurance = 28k
2. Bumper to bumper = 35k

May i know if there is any other company that i should go for ..like for eg Tata Aig? And why? Also what is this 'bumper to bumper'?
Hi Ethan,
Try Tata AIG.
They have good deals too. Ask for the pearl plan. I got the same, just a few days back.

Bumper to bumper means a 'Zero depreciation plan'.
You won't have to pay for the depreciated value of spares changed during a claim.

Check out the insurance thread on the forum for more details. Or you can also discuss it with your insurance guy.

Last edited by Monaro CV8 : 28th April 2013 at 09:27.
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Old 8th May 2013, 17:10   #2437
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Its time to renew the insurance - I am currently evaluating quotes from Bajaj Allianz and Future Generali. My last policy was with FG.

For the next year, FG have given me a quote for 7977 INR, for an IDV of 406620. BA have given me a quote for 7,407 INR for an IDV of 4,20,000 INR. Policy Bazaar is offering me a quote for 7,600 INR for an IDV of 4,00,000 (Policy from BA).

As of now, it seems like a no brainer and I plan to go with BA.

All these quotes are with no voluntary excess - only the mandatory 1000 INR deductible is applicable. For a Voluntary deductible of INR 2500, BA is ready to lover the quote to around 6,200 INR - should I bite the bullet, or go with no Voluntary excess?
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Old 9th May 2013, 08:06   #2438
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Its time to renew the insurance - I am currently evaluating quotes from Bajaj Allianz and Future Generali. My last policy was with FG.

For the next year, FG have given me a quote for 7977 INR, for an IDV of 406620. BA have given me a quote for 7,407 INR for an IDV of 4,20,000 INR. Policy Bazaar is offering me a quote for 7,600 INR for an IDV of 4,00,000 (Policy from BA).

As of now, it seems like a no brainer and I plan to go with BA.

All these quotes are with no voluntary excess - only the mandatory 1000 INR deductible is applicable. For a Voluntary deductible of INR 2500, BA is ready to lover the quote to around 6,200 INR - should I bite the bullet, or go with no Voluntary excess?
Did you negotiate with FG regarding the lower quote offer from BA? Just drop in a word and they might reconsider their offer. Otherwise stick to BA, suggest to not go for the voluntary deductible as for a drop of Rs 1200/- you will pay the double in case of any claims.

Were the quotes you mentioned at par with online quotes?
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Old 9th May 2013, 11:12   #2439
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Did you negotiate with FG regarding the lower quote offer from BA? Just drop in a word and they might reconsider their offer. Otherwise stick to BA, suggest to not go for the voluntary deductible as for a drop of Rs 1200/- you will pay the double in case of any claims.

Were the quotes you mentioned at par with online quotes?
Thank you for the inputs.

I tried negotiating with FG, but this is the best quote they came up with. This quote was from a FG agent, and was lesser than online quote.

The BA quote was from a direct BA agent (Got a call from their Pune office) and again, was lesser than online quote. After some more negotiation, BA agreed on a premium of 7,407 for an IDV of 4,20,000.

I just finished renewing the policy online.
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Old 9th May 2013, 14:40   #2440
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Guys,

I received a quote of INR21K (with Zero Dep) for my vento's first year insurance renewal. Posted the quote here

http://www.team-bhp.com/forum/offici...ml#post3116571 (Volkswagen Vento : Test Drive & Review)


any thoughts?

Sid
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Old 10th May 2013, 09:47   #2441
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I received a quote of INR21K (with Zero Dep) for my vento's first year insurance renewal.any thoughts?
Sid,
Was your First year insurance also from Bharati Axa? The TP liability is OK, the only area where you can negotiate is the OD premium, Try a couple of other Insurer with whom your workshop has a cashless tie up and get a quote from them. The Zero dep add on value is almost at par with other Insurance companies.
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Old 13th May 2013, 10:23   #2442
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I went to MSM yesterday to renew the insurance policy for my Alto, as I have been sticking with Maruti Insurance from day one. I never indicate any preference for insurers ( I did not even know I had a choice), so the first year it was Bajaj Allianz, the next two with Royal Sundaram. This year the girl doing the renewal asked me for the first time whether I had any preference for the insurer. I came to know they had four or five insurer partners, including a couple of PSU ones. So I casually asked her which one she would suggest.

She said all were equally good, but RS were generally slower in sending the surveyors than the others. She also said from this year they were demanding an FIR for any kind of accident, even if you bang your own gate while reversing. Now, that will really be a pain, so I opted to go with Bajaj Allianz this year!

This is just for information guys, in case you are contemplating to buy a policy from RS, for whatever car!
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Old 13th May 2013, 14:40   #2443
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She said all were equally good, but RS were generally slower in sending the surveyors than the others. She also said from this year they were demanding an FIR for any kind of accident, even if you bang your own gate while reversing.
You fell for it didnt you?. You accepted what the sales girl told you. Wish you had cross checked at RS website which clearly says that FIR is reqd only in case of any third party injury/death/property damage is reported. Maybe RS wasnt parting with the required cut to Maruti Suzuki, hence a negative feedback. The best you could have done was take a comparison quote for the approved Insurers and then decided. What if you have over paid for Bajaj Allianz than what RS must have quoted?
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Old 13th May 2013, 15:20   #2444
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^^ The premium will be the same, whatever insurer I choose. I am buying Maruti insurance, I care two hoots who the partner-insurer is! The claim settlement procedure is really hassle free. I know the premium will be higher as compared to what I will pay if I took the policy from, say, policy bazaar; since they give free coupons for water wash and wheel alignment / balancing for renewal, that much will be apparent to anybody!

My brother's wife bought the insurance for her Optra through the lowest bidder route, and we had a harrowing time recently for settlement of accident claim. That reinforced my resolve to stick with Maruti insurance. I made two claims, once when I side swiped our compound gate and once when the workshop guys damaged it inside their premises. I just signed on the dotted line on both occassions and never paid a single rupee.

I posted about the requirement of FIR by RS for the general information of other Bhpians, to verify and confirm for themselves, just in case!

Last edited by Gansan : 13th May 2013 at 15:21.
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Old 15th May 2013, 17:09   #2445
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Does anyone have an experience with Toyota insurance? A salesperson from the dealer's offshoot is pestering me with calls. Their quote is reasonable - not way off from the competitors, and they claim a hassle-free experience for a claim on Toyota vehicle. Some small freebies are added, too, but they will not make much of a difference on the deal.

I have mostly made up my mind, but I wanted to check with the friends here before I draw out the cheque...

Thanks!
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