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Old 22nd June 2013, 20:23   #2491
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Isjay try getting online quote from royal sundaram they offer bumper to bumper and there is nothing against tata.
I recently purchased policy for new amaze and found that royal sundaram site c is most user friendly.
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Old 24th June 2013, 16:34   #2492
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My policy with Tata-AIG is up for renewal on July 1, however, I am in the process of selling off my car. If, by July 1, the ownership is not transferred and I don't renew the policy, will I lose the NCB?
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Old 25th June 2013, 09:01   #2493
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My policy with Tata-AIG is up for renewal on July 1, however, I am in the process of selling off my car. If, by July 1, the ownership is not transferred and I don't renew the policy, will I lose the NCB?
If you have already sold the car, then you need to transfer the insurance too within 15 days of submission of document to RTO. You can submit an application to the Insurance co along with form 29 & 30, Insurance policy copy for the transfer. Either you renew the Insurance yourself or ask the buyer to pay the renewal insurance amount. In both cases the latest Insurance policy should be submitted to the Insurance co.

You wont lose the NCB, request the Insurance co for the NCB letter which is valid for 3 yrs.
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Old 25th June 2013, 10:06   #2494
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I recently renewed my City's Insurance.

The car completed 3 years and had a Zero-dep policy with Tata AIG. They offered zero-dep for another year so we took that up.

The premium came to 11990.

Now, along with the regular policy, they've given us some Gold and Platinum coverage. I don't remember the exact details but the gist is:

(over and above the regular benefits).

- NCB will not be affected for the 1st time that glass/plastics/rubber items are claimed through Insurance.
- Key to be replaced for free if lost/damaged

However, I have to say; the policy renewal was a big headache.

1) There's some problem with the website; you can't renew the policy online

2) When you call Customer Care, they transfer the call to the "Renewal Dept." for processing the billing (through Credit Card). I think this dept. is pretty small as there were no available agents for the first 3 times that I called. To make it worse, they have a policy of not keeping calls on hold. So, you can't be in queue for the agents to be available. You either call back and end up with the same fate or ask them to call you back, which doesn't happen.

3) Tata AIG take 4-5 days to send even the soft copy of the new policy. This is in very sharp contrast to say Iffco who send in the soft copy within a few minutes. I had to raise multiple complaints to get the soft copy soon; they still took 4 days.
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Old 25th June 2013, 16:33   #2495
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Hold on to your horses, no need to start strategising even before you know the outcome. Regarding the parking space, I dont think you will be asked to pay anything till the matter is resolved. The workshop will be responsible for keeping your car subject to space availability, if not they themselves will escalate to the Insurance co.
But stick to your guns and as F50 said nothing less than Total Loss would work for you. All the best.
Dear Friends,

The battle is almost coming to an end. I just need few final inputs from you all. My surveyor provided his loss assessment report in which he mentioned that net loss is "X" amount which is less than 75% of IDV. therefore, BA stated that they can not consider total loss. However the catch is, surveyor had mentioned "X" as net loss where "X" is the part owned by insurer. He excluded policy holder's part from net loss. My understanding is that, Cost of repair is sum of insurers part and policy holer's part of loss. When I questions on this, they kept silent and not responding to me. All though I am getting into escalation channels, I appreciate your advise on the following

1) Is net loss calculated considering insurers part alone? or it is sum of insurers part and policy holders part.

2) If surveyor and insurence company refuses to respond to our questions, then what is the best thing that we need take to move ahead.

Thanks a lot in advance.
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Old 26th June 2013, 15:19   #2496
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Originally Posted by shyam29june View Post
1) Is net loss calculated considering insurers part alone? or it is sum of insurers part and policy holders part.

2) If surveyor and insurence company refuses to respond to our questions, then what is the best thing that we need take to move ahead.
1) Total loss is considered based on the repair cost exceeding 75% of the IDV as mentioned in the policy. It includes both Insurer as well as Insured contribution.
2) If the present Insurance co grievance cell is not responding to your complaints, then you can approach IRDA as per the link below; Send the reference no generated to the Insurance co also to be on safer side.
http://www.igms.irda.gov.in/
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Old 27th June 2013, 11:16   #2497
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I had to send by Figo, with 12k on the ODO to the body shop of Lathangi Ford, bangalore after a dog hit at high speeds caused a huge dent on the front bumper. The car is a year old.

I have a zero depreciation insurance with ICICI Lombard renewed just a month ago. While purchasing this insurance online, I had pointedly asked the online sales agent what my liability would be in case of an accident. He clearly said, "sir, only Rs 1000 as a compulsory deductible, not a Re more". Based on this assurance, bought the policy.

When the bill for the denting and painting work was presented to me 2 days ago, it read Rs 1,346. When questioned about the additional Rs 346, I was told it was consummables and it's not covered under zero depreciation.

The insurance surveyor attending to my case said my zero depreciation policy doesnt cover consummables. Apparently what I have is a copper policy whereas consummables are covered in the higher silver / gold policies.

Nowhere was this mentioned to me while purchasing the policy. also nowhere on my policy document is there a reference to it being a copper policy.

My question is, aren't consummables covered under zero depreciation?

Also can the sales agent be held liable for misrepresentation of facts since he clearly lied when I asked him a very direct and specific question?

Or am I missing a point here?
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Old 8th July 2013, 15:17   #2498
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My question is, aren't consummables covered under zero depreciation?

Also can the sales agent be held liable for misrepresentation of facts since he clearly lied when I asked him a very direct and specific question?

Or am I missing a point here?
No, consumables are not necessarily covered under zero depreciation policies unless specifically mentioned in your cover note. I've been in this position with other agents before, but very difficult to do anything about them as they keep shifting jobs, and they will deny everything. Hopefully, the EIN number that is going to be made compulsory for insurance/MF agents, will help companies and customers identify repeat offenders!
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Old 8th July 2013, 15:23   #2499
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My turn for an insurance question. I've got 2 quotes from Bharti Axa (33K) and Bajaj Allianz (34K) for a zero-depreciation policy for the Duster 110 RxZ. Any views on which provider I should go for? The only difference I can see between the 2 policies is that Bajaj Allianz is offering me 13K more in IDV and something called Engine Protector. Am slightly leaning towards Allianz because of that
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Old 9th July 2013, 08:30   #2500
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My turn for an insurance question. I've got 2 quotes from Bharti Axa (33K) and Bajaj Allianz (34K) for a zero-depreciation policy for the Duster 110 RxZ. Any views on which provider I should go for? The only difference I can see between the 2 policies is that Bajaj Allianz is offering me 13K more in IDV and something called Engine Protector. Am slightly leaning towards Allianz because of that
Go with Bajaj Allianz coz for 1K more you are getting an higher IDV plus the engine protector add on. Dont know how effective is this add on. May be BHPians who have opted for this and have any experience would chip in with some additional info.

Just ensure that BA has a cashless tie up with the workshop where you get your car serviced. BTW what car do you own and who was the previous Insurer? Didnt the previous Insurer provide the renewal quote which could be lesser than the two (to retain customers).
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Old 9th July 2013, 19:57   #2501
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Time to renew the insurance for my 2011 - All New Honda City

Current Insurer - Tata AIG (Zero Dep)

IDV - 800,000

NCB - 50% (is this the max?)

What should my IDV be?
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Old 9th July 2013, 20:36   #2502
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Originally Posted by arup.misra View Post
Current Insurer - Tata AIG (Zero Dep)

IDV - 800,000

NCB - 50% (is this the max?)

What should my IDV be?
Ideally IDV should be 20% less of the current Ex showroom cost of the cars. However going by the Insurance co, it will be 10% less than last year's IDV which means 80K less. IDV should be around 7.2L

Calculation says:
IDV= {[(Manufacturer’s listed selling price or Ex-showroom price) + (Sales Tax) + (Accessories that are not included in listed selling price - depreciation)] – (Depreciation + Registration costs + Insurance costs)}
which is rarely followed.

50% NCB is the max.
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Old 10th July 2013, 07:31   #2503
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Friends, my Brio's insurance policy is up for renewal. The current policy is from Iffco Tokio. Will I face any problem, if I go for any other provider other than Iffco Tokio..? Has anyone tried renewing the policy online? I got quotes from both company (online) and dealer. There is a difference of Rs.3K for Zero Depreciation (dealer is cheaper). There is a difference in IDV value as well, the company considers 35K more. I think this extra IDV jacks up my premium amount.
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Old 10th July 2013, 08:24   #2504
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Friends, my Brio's insurance policy is up for renewal. The current policy is from Iffco Tokio. Will I face any problem, if I go for any other provider other than Iffco Tokio..? Has anyone tried renewing the policy online? I got quotes from both company (online) and dealer. There is a difference of Rs.3K for Zero Depreciation (dealer is cheaper). There is a difference in IDV value as well, the company considers 35K more. I think this extra IDV jacks up my premium amount.
Why should you face any problem if you opt for a different Insurer? To start with get the information from your workshop about Insurers which have a cashless tie up. Check the premium rates on the Insurers website online. I am sure you will get a better deal. I would suggest to be not tempted with the higher IDV, calculate as per the regulations and then check the Insurers quote for the calculated IDV.

How much is the cost for the zero dep add on quoted by the dealer and company? Ask the dealer whats the catch with the lower premium. Maybe the zero dep add on package offered by Insurer and dealer might be different.
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Old 10th July 2013, 09:53   #2505
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Why should you face any problem if you opt for a different Insurer? To start with get the information from your workshop about Insurers which have a cashless tie up.
Earlier I had a word with my dealer, they said cashless facility available only with Iffco Tokio (Honda Assurance). Other members can clarify this. The depreciation waiver amount is Rs.3400 and total Premium is Rs.13200 quoted by dealer. Where as company quoted Rs.17,000.
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