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Old 18th December 2013, 17:17   #2656
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Default Re: Automobile Insurance Queries? Ask me

I have shifted from comprehensive to third party insurance for my 10yr old santro from Insurer A to insurer B. Can I ask for NCB certificate from insurer A ?
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Old 18th December 2013, 17:48   #2657
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Default Re: Automobile Insurance Queries? Ask me

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I have shifted from comprehensive to third party insurance for my 10yr old santro from Insurer A to insurer B. Can I ask for NCB certificate from insurer A ?
Yes, you write to Insurer A with a copy of the TP insurance issued by B. You can entice him to give the NCB Certificate and promise that you will return when you get the new car. The NCB Certificate will be valid for 2 years from the date of issue.

Best Regards & Drive Safe

Ram
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Old 18th December 2013, 17:56   #2658
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Default Re: Automobile Insurance Queries? Ask me

Ok but whats the need to entice. Is it a favour from them.
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Old 18th December 2013, 18:41   #2659
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Default Re: Automobile Insurance Queries? Ask me

No definitely not a favour, but your right. But in India, you never know what kind of games people would play.

I should have added "if there is any reluctance".

All the Best

Best Regards & Drive Safe

Ram
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Old 18th December 2013, 19:29   #2660
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Quote:
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The NCB Certificate will be valid for 2 years from the date of issue.
Small correction. The validity of NCB letter is for 3 yrs from the date of issue.
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Old 23rd December 2013, 14:53   #2661
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Anyone heard about L&T insurance. My car insurance renewal is due. I have TATA AIG policy now. TATA AIG and HDFc ergo are quoting 1500-2000 more than L&T keeping everything else same.
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Old 23rd December 2013, 15:04   #2662
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Default Re: Automobile Insurance Queries? Ask me

IDV of 54 Lakhs. NCB 65%.
I have a quote of 75k from Tata AIG for Pearl Plan(Depreciations reimbursement). Is this rate good enough?

What other options do I have? I usually stick with Tata AIG as claims are easier to pass.

I think this policy allows upto 2 claims per year.
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Old 23rd December 2013, 15:10   #2663
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Anyone heard about L&T insurance. My car insurance renewal is due. I have TATA AIG policy now. TATA AIG and HDFc ergo are quoting 1500-2000 more than L&T keeping everything else same.
L&T is a new player in motor Insurance, hence there is no history of their service, claim reimbursement record etc. The lower premium is to garner business. If they have a cashless tie up with your workshop then it will be worth trying or else stick to the big guns only.

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IDV of 54 Lakhs. NCB 65%.
What other options do I have? I usually stick with Tata AIG as claims are easier to pass.
65% NCB I am hearing for the first time. The max NCB you can get on any car is 50% only. Please elaborate on the NCB %.

Since you have already experienced Tata AIG and are happy with the service provided, why move to someone else. BTW what car do you own?
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Old 23rd December 2013, 15:20   #2664
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65% NCB I am hearing for the first time. The max NCB you can get on any car is 50% only. Please elaborate on the NCB %.

Since you have already experienced Tata AIG and are happy with the service provided, why move to someone else. BTW what car do you own?
I have 65% NCB only because it was transferred from an old policy. Past few years the max NCB is 50%. Hence I ensure that I take a plan that has NCB protection as I will never be able to get 65% again. I have more than 4 policies that are 65% NCB currently running

I own an Audi RS5. I am not looking to move to another insurance company but would like to compare rates.

Also my agent said that if I claim during this new policy period my NCB will be protected however if I renew policy again and claim the year after I will loose NCB. This makes no sense, I have asked them to double check. Any truth in this matter?
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Old 23rd December 2013, 15:32   #2665
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Quote:
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I have 65% NCB only because it was transferred from an old policy. Past few years the max NCB is 50%. Hence I ensure that I take a plan that has NCB protection as I will never be able to get 65% again. I have more than 4 policies that are 65% NCB currently running
Oh you are using the Sunset clause. Good for you. The answer to the question you asked in mentioned below. Any claim in the policy year will nullify such a high NCB. For that matter wouldnt Gold plan suit you more instead of Pearl, afterall the sole intention is to save the NCB

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Sunset Clause: If at the renewal falling due any time between 1st July 2002 and 30th June 2003, both days inclusive, (after completion of the full policy period of 12 months) an insured becomes entitled to an NCB of 55% or 65% in terms of the Tariff prevailing prior to 1st July 2002, the entitlement of such higher percentage of NCB will remain protected for all subsequent renewals till a claim arises under the policy, in which case the NCB will revert to „Nil‟ at the next renewal. Thereafter, NCB if any earned, will be in terms of the above table.
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Old 23rd December 2013, 17:22   #2666
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Oh you are using the Sunset clause. Good for you. The answer to the question you asked in mentioned below. Any claim in the policy year will nullify such a high NCB. For that matter wouldnt Gold plan suit you more instead of Pearl, afterall the sole intention is to save the NCB
I have opted for NCB protection add-on in my insurance policy all these years hence I have been able to retain it for over a decade. Hence I dont see why I should loose NCB if I have an NCB protection+Zero Dep.

Pearl Plan = Gold Plan + Depreciation Reimbursement.
Rate for NCB protection are 50% higher
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Old 25th December 2013, 13:33   #2667
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My car got rear-ended by a Volvo recently. The damages are to the rear bumper, rear windshield, rear hatch and both the driver side doors. The total repair estimate with replacement of all the door panels is around Rs. 1 Lakh. Now the IDV of my car is about 64K so the insurance company is declaring total loss.
My question is it possible to go for a combination of repairing + tinkering (not panel replacement) and claim that from the insurance company. Also what would be advisable in this case, take the IDV from total loss or repair the car and try to sell it later. Note that the car is a 11.5 year old Santro. Any suggestions greatly appreciated.
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Old 26th December 2013, 15:11   #2668
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Originally Posted by yosbert View Post
My car got rear-ended by a Volvo recently. The damages are to the rear bumper, rear windshield, rear hatch and both the driver side doors. The total repair estimate with replacement of all the door panels is around Rs. 1 Lakh. Now the IDV of my car is about 64K so the insurance company is declaring total loss.
My question is it possible to go for a combination of repairing + tinkering (not panel replacement) and claim that from the insurance company. Also what would be advisable in this case, take the IDV from total loss or repair the car and try to sell it later. Note that the car is a 11.5 year old Santro. Any suggestions greatly appreciated.
My suggestion - take the IDV declared from total loss, no point in getting the car repaired coz firstly the integrity of the car is lost, secondly no gurantee that the car would be sold higher than the repair cost.
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Old 26th December 2013, 15:34   #2669
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My suggestion - take the IDV declared from total loss, no point in getting the car repaired coz firstly the integrity of the car is lost, secondly no gurantee that the car would be sold higher than the repair cost.
Yes, I am aware that this is the most logical option. However the sentimental value attached with this car is only making me think twice. Secondly the car is in perfect driving condition, in fact I drove the car myself all the way to the service station.
Thanks for your suggestion. Also, are you aware if it is possible to claim partial repair charges from the insurance company (instead of total loss)?
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Old 30th December 2013, 14:14   #2670
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Quote:
Originally Posted by ghodlur View Post
L&T is a new player in motor Insurance, hence there is no history of their service, claim reimbursement record etc. The lower premium is to garner business. If they have a cashless tie up with your workshop then it will be worth trying or else stick to the big guns only.
Thanks for the advice. I went with HDFC ERGO. Online renewal was very easy. I had TATA AIG before for 2 years. There was neither a reminder this time nor a quote after I started following up :(
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