Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 20th May 2014, 01:52   #2881
BHPian
 
gearedup's Avatar
 
Join Date: Dec 2013
Location: Bengaluru
Posts: 74
Thanked: 17 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by madhav14 View Post
As per my knowledge, the limit is 15 years. However, the risk acceptance depends from insurer to insurer. Some people limit themselves to 10 year old cars while some people do for even older cars.
Quote:
Originally Posted by ghodlur View Post
Absolutely, Reliance is acting smart, can you ask Reliance to provide the proof of the source of info. What benefits will Public Insurers provide to the car which pvt insurers cant. I think they are taking you for a ride unless they susbtantiate the claim. Time to move out from Reliance.
Thanks Madhav14 and ghodlur, and below is the update.
Mustered courage and called up National Insurance & they applied Murphy's law They plainly told me that when my own insurer of last 6+ years isn't willing to renew - why should they?

Checked quite a few portals - online route is not possible for 10+ year old car.
Have checked in with an agent known to me & hope for her to revert back. She also confirmed that it depends upon the risk acceptance considering the low premiums. They have a tie up with New India Assurance, but told me to keep my fingers crossed. If nothing works, I will write a letter to the RTO and apprise him of the situation - not sure if that helps in preventing me from being on the wrong side of the law
gearedup is offline   Reply With Quote
Old 20th May 2014, 08:47   #2882
BHPian
 
madhav14's Avatar
 
Join Date: Jun 2013
Location: Hyderabad
Posts: 142
Thanked: 86 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by gearedup View Post
Thanks Madhav14 and ghodlur, and below is the update.
Mustered courage and called up National Insurance & they applied Murphy's law They plainly told me that when my own insurer of last 6+ years isn't willing to renew - why should they?

Checked quite a few portals - online route is not possible for 10+ year old car.
Have checked in with an agent known to me & hope for her to revert back. She also confirmed that it depends upon the risk acceptance considering the low premiums. They have a tie up with New India Assurance, but told me to keep my fingers crossed. If nothing works, I will write a letter to the RTO and apprise him of the situation - not sure if that helps in preventing me from being on the wrong side of the law

Seems like you are facing too many difficulties with the renewal. Let me see if I can help you out. PM me if you couldn't get a renewal quotation there.

I may need your RC copy and insurance copy through e-mail and I can try here for a quotation. As we give huge business to insurers by doing motor renewals every month, I think they should consider this one too.
madhav14 is offline   (1) Thanks Reply With Quote
Old 20th May 2014, 09:53   #2883
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,807
Thanked: 1,804 Times
Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by faustus77 View Post
I(not my daughter) want to now employ a driver who has a proper/valid licence to drive LMVs.
Is there any problem as far as the insurance cover is concerned?
I have read about people hiring drivers by the hour in which case is the policy covering mishaps valid?
@faustus77
There would be no issue when any claim arises if the paid driver is employed provided the required option in the TPL premium is paid for. I am referring to the option "legal liability to paid drivers/cleaners/employees" for which you must have paid Rs 50 as the cost included as a part of TPL premium amount. If thats there, then no issues when claim arises. Check your Insurance policy for the same and also read the section in the policy for more clarity.
ghodlur is offline   (1) Thanks Reply With Quote
Old 21st May 2014, 23:26   #2884
BHPian
 
Join Date: Oct 2011
Location: mumbai
Posts: 450
Thanked: 180 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
@faustus77
There would be no issue when any claim arises if the paid driver is employed provided the required option in the TPL premium is paid for. I am referring to the option "legal liability to paid drivers/cleaners/employees" for which you must have paid Rs 50 as the cost included as a part of TPL premium amount. If thats there, then no issues when claim arises. Check your Insurance policy for the same and also read the section in the policy for more clarity.
Ghodlur
Hi.Thanks your reply.
Had checked with New India yesterday morning and they said that the insurance cover is valid.After reading your post checked the policy.They have charged 1582 as TP premium with the heading Basic TP cover.This is for owner driver,PA cover for unnamed persons, LL cover for paid driver.
Regards
PS: Any idea about my other query vis a vis the employment rules ( Maharashtra/Central Govt) Thanks.

Last edited by faustus77 : 21st May 2014 at 23:44.
faustus77 is offline   Reply With Quote
Old 26th May 2014, 16:02   #2885
BHPian
 
GrammarNazi's Avatar
 
Join Date: Apr 2013
Location: Bangalore
Posts: 936
Thanked: 1,417 Times
Default Re: Automobile Insurance Queries? Ask me

Royal Sundaram gave me a quote of Rs.12,628/- (with RSA) for my pre-owned '09 Linea MJD. The IDV offered is Rs.5,34,600/-.

Current Policy is expiring on 30th May.

Any reviews about Royal Sundaram?
GrammarNazi is offline   Reply With Quote
Old 26th May 2014, 16:20   #2886
Senior - BHPian
 
Latheesh's Avatar
 
Join Date: Dec 2007
Location: Bangalore/Kannur
Posts: 2,711
Thanked: 1,725 Times
Infractions: 0/1 (5)
Default Re: Automobile Insurance Queries? Ask me

My car insurance is with Royal Sundaram and never faced any issues. I just had one claim and dealer-Royal Sundaram took care of it.
Latheesh is offline   (1) Thanks Reply With Quote
Old 27th May 2014, 10:06   #2887
Senior - BHPian
 
itwasntme's Avatar
 
Join Date: May 2007
Location: BANGALORE
Posts: 1,836
Thanked: 869 Times
Default Re: Automobile Insurance Queries? Ask me

UPDATE:
5 minutes after I posted this, I called BA's local offices and was luckily put straight through to a cluster head. He clarified that they CAN continue with 35% after they have again inspected the car etc. etc.

He also wanted the contacts of the call centre employee who had called me with the below-mentioned erroneous information :-)

Original post below:
Bit of a unique case:

I recently purchased my company-owned/leased Cruze from my employer and transferred it into my name. My company also provided a NOC for the insurance (current NCB @ 25%) to be carried forward, as I was anyway the 'authorized user'.

This was duly accepted and endorsed on the policy by Bajaj Allianz after a exhaustive inspection of the car including taking detailed pictures of every scratch etc. on the car. I only paid the standard IRDA fee of maybe Rs. 150 (don't recollect).

Its time for renewal now (mid-June), and instead of the expected 35% slab BA is saying that as per IRDA rules, as the user ID has now changed etc. etc. they need to start afresh i.e. with a NCB of 0%! Reasoning is that last year was allowed as the my employer had given a NOC, but this year the clock will start again.

Sounds like a load of garbage to me hence this post. Mind you, have spoken only to a flunk so far so will approach BA's local offices shortly Wanted any advice from the insurance gurus!

Last edited by itwasntme : 27th May 2014 at 10:12. Reason: Update
itwasntme is offline   Reply With Quote
Old 27th May 2014, 10:47   #2888
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,807
Thanked: 1,804 Times
Red face Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by itwasntme View Post
Its time for renewal now (mid-June), and instead of the expected 35% slab BA is saying that as per IRDA rules, as the user ID has now changed etc. etc. they need to start afresh i.e. with a NCB of 0%! Reasoning is that last year was allowed as the my employer had given a NOC, but this year the clock will start again.
The BA guys are BSing. Since the ownership has been transferred to your name and the policy is now for renewal, you are entitled to the NCB for then policy year in case of no claims. BA guys are just trying to see if they can talk you out of this. Just stand firm and if they dont budge, look our for a new Insurer.
ghodlur is offline   Reply With Quote
Old 27th May 2014, 12:33   #2889
BHPian
 
Vahanam's Avatar
 
Join Date: Apr 2014
Location: Bengaluru
Posts: 110
Thanked: 104 Times
Default Re: Automobile Insurance Queries? Ask me

I was taking a quote for the new honda city (regular and zero dep). TATA AIG quote is around 29K for the zero dep and Bajaj for zero dep quotes 40K. Thats a pretty wide difference. Are there significant difference between the terms and conditions between the 2 policies that command such a big difference or is it just a case of one commanding a superior premium over the other?
Vahanam is offline   Reply With Quote
Old 27th May 2014, 13:29   #2890
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,807
Thanked: 1,804 Times
Red face Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Vahanam View Post
I was taking a quote for the new honda city (regular and zero dep). TATA AIG quote is around 29K for the zero dep and Bajaj for zero dep quotes 40K. Thats a pretty wide difference. Are there significant difference between the terms and conditions between the 2 policies that command such a big difference or is it just a case of one commanding a superior premium over the other?
Generally the difference between the quotes is in the range of 2-3K provided all the criterias are almost identical. In your case maybe the IDV quoted by Tata must be lesser than BA, add ons might be charged. Did you compare the two quotes are all sections of the premium breakup? Also if you are a present customer of BA, they feel they can charge you higher premium whereas Tata must be seeing you as a new customer.

In my case of Punto's insurance renewal, I find a difference of 3.5K between the lowest quote and the quote by existing Insurer.
ghodlur is offline   Reply With Quote
Old 27th May 2014, 14:26   #2891
BHPian
 
drsingh's Avatar
 
Join Date: Mar 2011
Location: Ludhiana
Posts: 614
Thanked: 403 Times
Default

Hi, I'm looking to renew insurance for a 2005 Indigo. I am interested in third party cover only . The regular insurance guy who has been riding his bike to my place for the last 4 years for renewal has given me the cold shoulder and said he doesn't do third party insurance!

Is there any way to buy it online? Do private insurers have the right to refuse renewal if you want liability only coverage?

Or do I have to visit National Insurance /oriental insurance offices to get my car insured?
drsingh is offline   Reply With Quote
Old 27th May 2014, 15:04   #2892
Senior - BHPian
 
itwasntme's Avatar
 
Join Date: May 2007
Location: BANGALORE
Posts: 1,836
Thanked: 869 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by drsingh View Post
Do private insurers have the right to refuse renewal if you want liability only coverage?

Or do I have to visit National Insurance /oriental insurance offices to get my car insured?
drsingh, simply head over to any PSU insurer with your vehicle plus necessary documents. If the inspection guy is around, you will walk out in 30minutes flat with your TP insurance. This is from my personal experience with National in Bangalore.

IRDA needs to force the private guys to easily accept TP cases! Legally they are bound to offer and accept subject to normal due diligence. Practically, they will move heaven and earth not to.
itwasntme is offline   (1) Thanks Reply With Quote
Old 27th May 2014, 15:25   #2893
BANNED
 
Join Date: Dec 2009
Location: Bangalore
Posts: 87
Thanked: 16 Times
Default Re: Automobile Insurance Queries? Ask me

Anyone got any feedback on L&T Insurance ? They seem to be around since 2010, and quoting significantly lower premium compared to TataAIG, BhartiAXA etc.

I did a quick search, and do find consumer complaints against service ranging from shoddy claims processing, surveyor asking for bribes (didn't realize that private insurance co. surveyors do it), and misquoting higher IDV while selling insurance but policy having much lower IDV. However, I find somewhat similar complaints most of the other insurance companies as well. Thus confused.
bdutta is offline   Reply With Quote
Old 27th May 2014, 17:19   #2894
Senior - BHPian
 
r_nairtvm's Avatar
 
Join Date: Feb 2009
Location: Dubai/TRV/BLR
Posts: 1,614
Thanked: 1,348 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by bdutta View Post
surveyor asking for bribes (didn't realize that private insurance co. surveyors do it
Just to clear a little mis-conception

Surveyors are supposed to be "independent". Per say they are not employed by any insurance company on a permenant basis. They are remunerated by Insurance company on a scale of fee fixed by IRDA, for the job assigned to them by the insurance company.

So there is nothing like "private Insurance Company Surveyors" and "public Insurance company Surveyors"

Best Regards & Drive Safe

Ram
r_nairtvm is offline   (1) Thanks Reply With Quote
Old 27th May 2014, 17:25   #2895
BANNED
 
Join Date: Dec 2009
Location: Bangalore
Posts: 87
Thanked: 16 Times
Default Re: Automobile Insurance Queries? Ask me

Thanks @r_nairtvm, for the clarification.

Slightly off-topic:
In any case, does IRDA have any procedures or policies to check the "asking for bribe" menace, since there is clearly a conflict of interest at play here. I suppose, surveyors who are able to turn down the maximum reimbursement (coverage) requests, would be treated more favorably, such as by either some incentives or by repeatedly handing them assignments. How is the true neutrality of surveyor maintained ? In case, you happen to know how these things work.
bdutta is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Health insurance queries? Ask me! Haste Shifting gears 350 22nd November 2016 19:29
Queries in 'Ask the gurus' section rocksterraghu In-Car Entertainment 695 9th August 2016 07:54
Automobile Insurance - FAQ rjvora_2000 Indian Car Loans & Insurance 71 28th October 2015 18:28
P-150 classic for sale .What can i ask for jango Motorbikes 1 31st March 2006 12:51


All times are GMT +5.5. The time now is 15:24.

Copyright 2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks