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Old 8th September 2013, 19:31   #2551
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Default Re: Automobile Insurance Queries? Ask me

Hi, folks . Just a simple question. Does the insurance follow the car? Or is it dependent on the person to whom the car/insurance is registered? In other words , if a person who doesn't own the car , but has taken it with permission from the owner crashes it, will there be any issue while claiming insurance? (Assuming the driver is not under the influence of alcohol and has a valid DL)
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Old 9th September 2013, 15:51   #2552
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by rlvl View Post
Hi, folks . Just a simple question. Does the insurance follow the car? Or is it dependent on the person to whom the car/insurance is registered? In other words , if a person who doesn't own the car , but has taken it with permission from the owner crashes it, will there be any issue while claiming insurance? (Assuming the driver is not under the influence of alcohol and has a valid DL)
Insurance is for the car. In the instance sited the insurance will pay up. Only some cases if the Driver is below 25 years an additional deductible/excess may be applicable.

NCB (No Claim Bounus) from an Insurance follows the owner and not the Car.

Best Regards & Drive Safe

Ram
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Old 9th September 2013, 16:04   #2553
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Default Re: Automobile Insurance Queries? Ask me

We own a 2005 Santro in the family which is registered under my father's name. He has a 50% NCB on it. Our plan was to transfer the Santro to my name for approx 1L and take a new insurance for it under my name. The 50% NCB can be transferred to a new car when bought under my father's name (I believe the timeframe for transferring the 50% NCB is 3 years).

I wanted to know how can I decide on the price of the Santro if it is to be transferred within the family or otherwise. If we value it at 1L, the new insurance premium for the new owner will be obviously lower than if the car is valued at approx 1.5L or higher.

In short, can the car be valued at a lower price if it is to be transferred within the family to avail a cheaper insurance premium rate? Who decides the value of the used car?

Last edited by 9thsphinx : 9th September 2013 at 16:05.
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Old 10th September 2013, 08:29   #2554
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Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by rlvl View Post
Hi, folks . Just a simple question. Does the insurance follow the car? Or is it dependent on the person to whom the car/insurance is registered? In other words , if a person who doesn't own the car , but has taken it with permission from the owner crashes it, will there be any issue while claiming insurance? (Assuming the driver is not under the influence of alcohol and has a valid DL)
Claiming the Insurance wont be a problem but will have to be done by the actual owner and not by the person driving at the time of crash.

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Originally Posted by 9thsphinx View Post
In short, can the car be valued at a lower price if it is to be transferred within the family to avail a cheaper insurance premium rate? Who decides the value of the used car?
Even if you transfer it at a lower cost, the IDV applicable when the new Insurance is bought will be calculated by the Insurance co based on the year of depreciation times the % of depreciation. The Insurance premium is not at all dependant on the selling price of the car. Why not transfer the Insurance too along with the car. That way renewing wont be an issue at all.
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Old 10th September 2013, 09:11   #2555
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Quote:
Originally Posted by rlvl View Post
Hi, folks . Just a simple question. Does the insurance follow the car? Or is it dependent on the person to whom the car/insurance is registered?
Insurance is an agreement between the insurance company and the car owner for a specific car. So to answer your question, the insurance follows the owner and the car both.
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Old 10th September 2013, 09:37   #2556
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Even if you transfer it at a lower cost, the IDV applicable when the new Insurance is bought will be calculated by the Insurance co based on the year of depreciation times the % of depreciation. The Insurance premium is not at all dependant on the selling price of the car. Why not transfer the Insurance too along with the car. That way renewing wont be an issue at all.
The issue is not with getting the insurance renewed but how to get a low insurance premium rate after the change of ownership. The reason why we're not planning on getting the insurance transferred is because there's a 50% NCB on the Santro. We may plan on buying a bigger/expensive car in the near future and this 50% NCB can be transferred to that new car.

Thanks for the IDV pointer. I wasn't aware of it, but as the car is more than 5 years old, I was hoping to get it transferred to my name at a lower price than the current second hand market rate and get a new insurance policy for it with a lower premium accordingly.

Say for example the actual current market value for a used 2005 Santro is ~1L - 1.25L. Now, if I get it transferred to my name for 80k, can I choose to get it insured for 80k or is it mandatory to get it insured for 1.25L?
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Old 10th September 2013, 09:46   #2557
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Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by 9thsphinx View Post
The issue is not with getting the insurance renewed but how to get a low insurance premium rate after the change of ownership. The reason why we're not planning on getting the insurance transferred is because there's a 50% NCB on the Santro. We may plan on buying a bigger/expensive car in the near future and this 50% NCB can be transferred to that new car.
As I said earlier, NCB retains with the owner and does not go with the car. Even if you transfer the Insurance the NCB still retains with your father who can use it when buying Insurance for the new car. You can go ahead with getting the Insurance transferred too.

Quote:
Say for example the actual current market value for a used 2005 Santro is ~1L - 1.25L. Now, if I get it transferred to my name for 80k, can I choose to get it insured for 80k or is it mandatory to get it insured for 1.25L
Yes, it is mandatory to get the car insured at the amount quoted, you can work it out with the Insurance co. Since the car is more than 5 yr old, the IDV has to be mutually agreed. Again the car selling price has no say in the IDV of the car being insured.
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Old 10th September 2013, 12:00   #2558
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Originally Posted by ghodlur View Post
Yes, it is mandatory to get the car insured at the amount quoted, you can work it out with the Insurance co. Since the car is more than 5 yr old, the IDV has to be mutually agreed. Again the car selling price has no say in the IDV of the car being insured.
I doubt if it's mandatory to value the IDV as per the blue book. However if you value it lower, in case of a total loss or theft you will only get the IDV back. For e.g. if your car's market value is 3 L and you insure it for 2.5 L, in case the car was stolen you can only claim 2.5L max.
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Old 12th September 2013, 14:24   #2559
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Default Claim issue with Bajaj Allianz

Hi Guys,

I spent time in searching for a relevant issue with the car insurance claim, however could not. Hence posting it. Please feel free to move it, if this has been reported.


Unfortunately I had hit a dog through my scorpio vlx. The dog came out of nowhere and I had no oppurtunity to avoid what soever and the dog did not survive. While the sorrow remains, the next part was the damage to the car. It hit the bumper and there was mis alignment to the bumper with the bend.

Now comes the claim part. I have the comprehensive insurance taken from bajaj allianz. During the renewal, they took photos and inspected well. Now they rejected the claim for the bumper saying, the dent is also with the scratches which is old scratches.

According to him, if there is a minor scratch on the body and if a accident happens over it, we should have reported the scratch before claiming for the damage occurred during the accident, else the damage is not covered. He is considering the scratch as 1 damage and dent as another different damage and two damages cannot be claimed... I feel like I'm writing a fairy tale of his justification.

Has any one faced such kind of policy? Its with Bajaj Allianz, I have asked for detailed rejection report to file a case in consumer court. Let me know.


Thanks,
Vadiraj
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Old 12th September 2013, 15:05   #2560
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Default Re: Claim issue with Bajaj Allianz

I have filed for insurance a couple of times but never had heard this stupid argument. If there are minor scratches previously , they cannot deny your claim. Plain & Simple.

But my insurance is Bharti AXA, which I must say have been great.

Ask for the detailed report - which should deter them enough.
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Old 12th September 2013, 15:22   #2561
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Red face Re: Claim issue with Bajaj Allianz

@vadiraj,

The BA surveyor is taking you for a ride. He is dilly dallying about the claim. Any number of damages can be included in a single claim. I suggest call up BA customer support & explain the situation or better if you can get hold of the branch officials.

If this is just the case of bumper damage or misalignment, cant it be done outside at a FNG instead of a claim? Can you post some pics of the extent of damage?
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Old 12th September 2013, 15:26   #2562
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Default Re: Claim issue with Bajaj Allianz

Ask them to show the proof, else claim for the scratch, both will be rectified. The bill will not say labor for rectifying the dent, it will only say Total Labor. Let the insurance company and the labor analyse what to rectify.

Last edited by ::CMS:: : 12th September 2013 at 15:29.
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Old 12th September 2013, 15:38   #2563
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Default Re: Claim issue with Bajaj Allianz

My friend had to run over the pothole as he could not slow down on time. As a result both the rims cracked. Claim from Bajaj allianz was rejected stating that mag wheels are not covered under warranty. This was rejected post survey and even the job card was created.

Pathetic service by Bajaj insurance is pathetic as per my friend.
Bike - KTM DUKE.
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Old 12th September 2013, 15:42   #2564
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Default Re: Claim issue with Bajaj Allianz

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Any number of damages can be included in a single claim. I suggest call up
As far as I know if the damages are in different places you cannot put it in a single claim.
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Old 12th September 2013, 15:46   #2565
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Default Re: Claim issue with Bajaj Allianz

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As far as I know if the damages are in different places you cannot put it in a single claim.

Second that. The way insurance works is - every single incident is an event.

So if you broke your bumper and dented your Fender together - it can be claimed. However if you broke you bumper and kept driving for months and then had a scratch on the fender and went to claim both - it will not work.
Or else you would need to 'prove' both happened in the same incident.
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