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Old 17th March 2014, 13:01   #2806
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Default Re: Automobile Insurance Queries? Ask me

I Currently have a Swift VDI with comprehensive insurance and not claimed for last 7 years. Now I plan to buy a new car and transfer this NCB to the new car. Can I take another comprehensive for Swift paying the full amount without NCB? I want to retain my swift hence the query.
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Old 18th March 2014, 09:13   #2807
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I Currently have a Swift VDI with comprehensive insurance and not claimed for last 7 years. Now I plan to buy a new car and transfer this NCB to the new car. Can I take another comprehensive for Swift paying the full amount without NCB? I want to retain my swift hence the query.
Yes, it can be done. Take the NCB letter from the Insurer and use it when buying policy for the new car. You can buy a comprehensive policy for the swift or a simple TPL policy. My suggestion is to opt for comprehensive policy.
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Old 18th March 2014, 12:08   #2808
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I need to get a couple of dents repaired on my Honda which will require tinkering and repainting of two panels. The Honda SA advised against claiming insurance as the insurer would pay for only one dent! I am a little surprised by this advice. The stated reason was that the dents appear to have been caused by two different incidents. I am at a loss to understand why that matters. Any guidance
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Old 18th March 2014, 14:29   #2809
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Default Re: Automobile Insurance Queries? Ask me

Hello Friends,
I'm new to the motor insurance scenario in India. My first renewal is coming up. I have some questions (skimmed through this thread before posting but did not find the exact details):
1. If I use an online service such as Policybazaar how do I avail the NCB from my current insurance provider - Do I need to get a physical letter?
2. Any insurance company I should stay away from - I'm in kolkata.
3. How is the NCB calculated? I saw some references to a NCB chart - Any pointers will be useful.
Thanks for the help.
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Old 18th March 2014, 18:11   #2810
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Originally Posted by satyaanveshi View Post
The Honda SA advised against claiming insurance as the insurer would pay for only one dent! I am a little surprised by this advice. The stated reason was that the dents appear to have been caused by two different incidents. I am at a loss to understand why that matters. Any guidance
The Honda guy is right. The Insurer will treat each dent as a seperate claim unless you can prove to the Surveyor that both the dents are result of a single incident.
Quote:
Originally Posted by dj78 View Post
1. If I use an online service such as Policybazaar how do I avail the NCB from my current insurance provider - Do I need to get a physical letter?
2. Any insurance company I should stay away from - I'm in kolkata.
3. How is the NCB calculated? I saw some references to a NCB chart - Any pointers will be useful.
Answering your questions serially.
1) If you are changing Insurance co when renewing using Policy bazaar quotes, you will have to get the NCB letter from the present Insurer. Although not needed during the renewal, but will be required in case of any claims. During renewal you can just mention the NCB%.
2) Kolkatta BHPians can help here. But stay away from the likes of ICICI Lombars, Reliance etc. Purely my personal opinion.
3)There is a NCB table as seen in the MVA charter which gives the figures in % based on the years of claim free insurance. There is no calculation persay.
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Old 18th March 2014, 18:29   #2811
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
The same would be for the rest of the Insurers too who would be wary of making you their customer as you have already made claims.
On this one and on a lighter note, what is the use of insurance when you don't claim if the need be?

As I said earlier, I have been contacted by 3-4 Insurers. Right now SBI looks to have the best of the lot with the highest IDV. Just wanted an opinion if I can go with them. All the 3 mentioned have cashless tie up with the Ford Showroom

Also, how much should be the IDV of a 1 year old vehicle? Really confused there.
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Old 19th March 2014, 10:47   #2812
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On this one and on a lighter note, what is the use of insurance when you don't claim if the need be?
Also, how much should be the IDV of a 1 year old vehicle? Really confused there.
You are right in saying that people buy insurance which does help in claim. But put yourselves in the Insurer's shoes and you will realize the lesser the claims settlement, greater will be the Insurer's profit. Once you made a claim,the Insurer is bound to feel that there are chances of a second claim after the renewal. For the premium amount, Insurer might have to spend a lot in settling the claim which will hurt the Insurer's profit substantially. Hence ideally Insurers wouldnt want to continue with the customer

SBI General is a new comer as I said earlier. If they have a cashless tie up with Ford, you can opt for it. Just make a note to enquire if SBI has tied up with Ford for a Pan india basis.

Your ideal IDV should be 10% of current exshowroom cost of the model/variant. Or practically you can take the IDV as 10% less of the last year's IDV
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Old 19th March 2014, 11:08   #2813
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The Honda guy is right. The Insurer will treat each dent as a seperate claim unless you can prove to the Surveyor that both the dents are result of a single incident.
Thanks. But the insurer will still pay for both the dents, right? The Honda SA claims that the insurer will pay for only one dent. But my idea was that since the NCB will be lost anyway, I might as well get both repaired.
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Old 19th March 2014, 11:29   #2814
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Originally Posted by satyaanveshi View Post
Thanks. But the insurer will still pay for both the dents, right? The Honda SA claims that the insurer will pay for only one dent. But my idea was that since the NCB will be lost anyway, I might as well get both repaired.
I was in the same boat for my alto. Now i understand, the modus operandi of insurance companies. They would pay for one dent, minus the deductible. For another dent, i would have to claim again, so that i pay another deductible. This way, their cost for claims come down. So, for the second dent, you might have to go for fresh claim and pay another deductible.
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Old 20th March 2014, 08:56   #2815
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Quote:
Originally Posted by satyaanveshi View Post
Thanks. But the insurer will still pay for both the dents, right? The Honda SA claims that the insurer will pay for only one dent. But my idea was that since the NCB will be lost anyway, I might as well get both repaired.
The Insurance co is always in hands with the Workshop. Even if you prove to the surveyor that both the dents are related and surveyor agrees to it, the workshop can play spoil sport by proving to the surveyor that dents arent related at all. So this way they will have to deal for one dent with the Insurance co and one dent directly from the customer. The logic here is repair cost from the Insurance is generally settled in due course of time. So if both the dents are repaired through Insurance co, repairs amounts will come late as compared to direct payment from the customer.

I would suggest to be present when the surveyor visits the workshop and keep asking questions.
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Old 23rd March 2014, 15:29   #2816
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Mail4ajo pls stay away from both Bharti & Reliance. Both have a very poor claim settlement ratio.
I looked in the IRDA annual report. For non-life insurers, all I can see is the Incurred Claims Ratio (ICR). Eg., search for "Statement 58" in the IRDA 2012-13 Annual Report. This is different from CSR.

Where can I see the Claim Settlement Ratio (CSR) of motor insurance companies?
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Old 25th March 2014, 09:49   #2817
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Default Re: Automobile Insurance Queries? Ask me

My 2012 Honda City renewal is next month. I have retained Royal Sundaram for the fact they provide cashless facility with Sundaran Honda. Does this still hold true? Are there any other insurance companies who has a tie up with Sundaram Honda.
How much should I fight for the IDV and what should be my NCB. No claims made till now. Last renewal was 20K for zero dep.
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Old 26th March 2014, 15:46   #2818
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Originally Posted by dre@ms View Post
Are there any other insurance companies who has a tie up with Sundaram Honda.
How much should I fight for the IDV and what should be my NCB. No claims made till now. Last renewal was 20K for zero dep.
The best people who can confirm this is Sundaram Workshop, enquire with whom do they have a cashless tie up. Ideally the IDV should be as per the depreciation table, you can find the same in the Insurance policy. If you have two claim free years, then the applicable NCB would be 25%.
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Old 26th March 2014, 19:35   #2819
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Default Can Insurance claim be denied on ambiguous police diary entry?

Greetings to all members,

My car met with an accident in its 9th year of ownership. A PCR call was made from the accident spot and settlement reached at the police station. My insurance policy was from The Oriental Insurance Company Ltd and was zero depreciation policy.

The claim was approved by the surveyor and the work was done at MASS. I paid for the work as the cashless facility was not available.
Thereafter I received a letter from Insurance company stating requirement of a police diary entry in the case. So, I visited police station and got a diary entry made from the police constable there. This police diary was submitted to the Insurance company and after a week my insurance claim was denied stating mis-representation of the facts.

Apparently, there was a pre-existing Police diary entry and another one was written on my request when I went to the police station with the Insurance company's letter demanding Police diary entry.

Now, the two Police diary entries vary at one point:
1. First diary entry: It states the registration number of truck involved in the accident.
2. Second diary entry: It states the vehicle involved in accident as an unknown vehicle.

Based on this difference in Police report, my claim was denied. It is worth mentioning that in the entire ownership time, no claim was ever filed and the car carried factory paint before the accident. Now, my points are:
- Can I be denied claim for incompetency of some police constable? The police diary entry was in poor handwriting with archaic pre-British era techical lingo.
- I was totally unaware of pre-existence of previous police diary entry, else I would have provided the copy of same.
- There have never been any deviation in my version of accident. Even the PCR call detail mentioned that I stated the registration number of the truck involved in the accident.
- I have already approached Grievance officer and PG portal. In either places, the company maintained their stance of denial of claim. My only point of appeal left is Insurance Ombudsman.

But, before taking things forward, I wish to understand the technicalities of this problem. I am being denied the claim because of some police diary entry which mentions police version of events and dont even carry my signature nor my statement.

Probably The Oriental Insurance Company is too pained to give a zero depreciation claim on a 9 yrs old car. Whereas they happily issued me the zero dep policy while minting business from me.
I shall be filing an appeal to Insurance Ombudsman in a day or two.

Requesting the learned Tbhpians to please guide and help me out.

Last edited by Grr7 : 26th March 2014 at 19:44.
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Old 27th March 2014, 10:32   #2820
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Quote:
Originally Posted by ghodlur View Post
The best people who can confirm this is Sundaram Workshop, enquire with whom do they have a cashless tie up. Ideally the IDV should be as per the depreciation table, you can find the same in the Insurance policy. If you have two claim free years, then the applicable NCB would be 25%.
Ok. I will check with Sundaram. No claims till now for last 2 years. Will check the policy for the depreciation table.
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