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Old 10th October 2014, 22:38   #3016
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Default Re: Automobile Insurance Queries? Ask me

Answering my own questions :

Quote:
Originally Posted by rajathv8 View Post
Here is what I would like to know :
1. The previous insurance is not in my name, not in line with the current RC card (which is in my name), and has not expired yet. Am I legally allowed to apply for a fresh insurance?
Ans : Yes. I contacted Bajaj Allianz and ICICI Lombard. Both agreed that the previous insurance is null and I can apply for a new Insurance.

2. The UI Bangalore employee told me that the cars Reg. No would show up at any central government insurance agency and hence none of them can provide insurance.
When I explained the situation to ICICI Lombard person over the phone, he said it can be done without any issues.
Will the Reg. No also show up with the private companies and cause similar issues as with UI Bangalore?
Ans : I guess not since I was provided Insurance by Bajaj Allianz without any issues.

3. Is there any process by which I can terminate the previous insurance with UI Ernakulum? That way the Reg No would not show up in the system and I can buy a fresh policy from UI Bangalore.
Ans : Dont know yet.
Below is my experience with some of the players:

Episode 1 : ICICI Lombard
I called up ICICI Lombard and explained the situation. The executive took down all my details and filled up a proposal. I was provided a login ID and password with which I could view my proposal and pay for the same.
The offer is as below:
IDV: 1.84L
Type: Comprehensive
Premium : Rs.7425

What put me off was the pace at which the executive was speaking! I could barely catch up and understand the sentences. I felt like I was being pushed into making the payment.

Episode 2 : Bajaj Allianz
The executive spoke calmly and slowly. I felt that the person at the other end of the line was listening to me when I spoke. All my questions were answered satisfactorily.
The offer was:
IDV: 1.94L
Type: Comprehensive
Premium : Rs.5748

The mere manner in which the call was handled swayed my wallet towards BA. Here is the sequence of interactions :
  • 29th Sep : Called BA for the first time and received the quote
  • 30th Sep : Confirmed interest in proceeding
  • 1st Oct : Was informed over call that surveyor would visit on Saturday since 2nd and 3rd were holidays
  • 4th Oct : Surveyor calls and confirms that he would visit but does not turn up
  • 5th Oct : Surveyor calls informs that he would come on Monday morning
  • 6th Oct : Surveyor visits. Clicks some snaps and collects copy of RC card
  • 8th Oct : Executive calls and informs me that I can proceed with payment. Link sent to my mail id for payment. Payment made at 11 PM.
  • 10th Oct : I was informed that I would receive the soft copy of the policy within 3 hours of payment but dont see anything in my inbox. Call up Indiranagar branch and give them the details. They confirm that Insurance had been issued and were surprised to hear that I have not received it. They agree to give me a printout if I visit their office on Saturday. Later while browsing through the "Promotions" tab of my GMail inbox I see it! It was sent to my mail on 9th Oct 11:40AM.
All calls except the first one were made by BA. The interactions with BA have been professional, calm and peaceful. I had a pleasant experience buying my first car Insurance.

Last edited by rajathv8 : 10th October 2014 at 22:41.
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Old 10th October 2014, 22:40   #3017
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Quote:
Originally Posted by joybhowmik View Post
Not sure if you noticed another interesting bit...Amongst all providers the Third Party quote is Rs 4109. Last year I paid Rs 3424 for something called Basic Third Party Liability.
Now , how can Third Party coverage premium go up?
Ya I saw. That is due to some GoI regulation. I remember reading something to that effect sometime back. Its the same with me. Right now posting through mobile. Will try to lookup and post from PC
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Old 13th October 2014, 08:58   #3018
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by joybhowmik View Post
Not sure if you noticed another interesting bit...Amongst all providers the Third Party quote is Rs 4109. Last year I paid Rs 3424 for something called Basic Third Party Liability.
Now , how can Third Party coverage premium go up?
Quote:
Originally Posted by Dry Ice View Post
Ya I saw. That is due to some GoI regulation. I remember reading something to that effect sometime back. Its the same with me. Right now posting through mobile. Will try to lookup and post from PC
Here is the news item I was talking about - http://www.thehindubusinessline.com/...cle5845089.ece

Quoting a small part -
Quote:
MUMBAI, MARCH 28:
General insurers are in a fix as the Insurance Regulatory and Development Authority has moderated the premium hike for third party motor insurance (liability only cover).

While the regulator had initially proposed to hike premium rates for private cars and two-wheelers by 26 to 137 per cent in its draft circular, the regulator finally lowered the proposed increase to 9 to 20 per cent in its final circular released on Thursday.
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Old 14th October 2014, 22:25   #3019
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Default Re: Automobile Insurance Queries? Ask me

My XUV W6 will get registered tomorrow and delivered on Thursday.

Today I did a thorough PDI. I have a quick question. Inputs will help a lot.

Sireesh auto has 3 insurance providers - Royal Sundaram, Bharti Axa and Liberty Videocon. To convert the free first year regular insurance to Zero dep, Royal Sundaram is asking for 7.5K INR and Bharti Axa for 3K INR. I found many negative reviews of Bharti Axa. What do you guys recommend?

Thanks,
Rajat
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Old 16th October 2014, 21:06   #3020
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Default Re: Automobile Insurance Queries? Ask me

Need a quick advice on the insurance. My car met with an accident. It is actually own hit to the pothole which broke the oil sump. The SA advised me against claiming insurance as, per him, the expence will be in the range of 8 to 9k out of which engine oil and some sealant cost about 4K. These are called consumables and insurance won't pay for it. So, per him, max I can get is about 3k but my NCB, which is at about 35% in the current year and next year it will be 45% will be gone.

So what should I do? Any opinions? Doesn't the insurance cover oil/sealant?
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Old 16th October 2014, 22:02   #3021
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Originally Posted by shipnil View Post
Need a quick advice on the insurance. My car met with an accident. It is actually own hit to the pothole which broke the oil sump. The SA advised me against claiming insurance as, per him, the expence will be in the range of 8 to 9k out of which engine oil and some sealant cost about 4K. These are called consumables and insurance won't pay for it. So, per him, max I can get is about 3k but my NCB, which is at about 35% in the current year and next year it will be 45% will be gone.

So what should I do? Any opinions? Doesn't the insurance cover oil/sealant?

SA has given you the correct picture. Consumables are not covered unless you have taken additional cover for it (at an additional premium). Best is not to claim for this job, and preserve your NCB.
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Old 17th October 2014, 11:38   #3022
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Default Re: Automobile Insurance Queries? Ask me

Are there any non-PSU companies that insure cars older than 10 years? I understand the reluctance in providing comprehensive insurance on an old vehicle, but, how aboutthird party cover?

The car in question was insured by New India Assurance (comprehensive) and the insurance expired a few days back. The agent who used to handle is not responding (no money to be made with premium being low), so, if I can get the car insured without having to drive halfway across the town to insurance company's office, it would be great.
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Old 17th October 2014, 11:44   #3023
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by shipnil View Post
So what should I do? Any opinions? Doesn't the insurance cover oil/sealant?
Quote:
Originally Posted by ajaypjayaraj View Post
Best is not to claim for this job, and preserve your NCB.
+1 to what Ajay has quoted. The calculation is simple actually. With 45% NCB for next year, how much would you be saving? Keeping that in mind, is spending 4k worth or not is to be considered.

I would say, pay it from your pocket and keep the NCB intact, if you plan to buy a new car in the next couple of years, then this NCB will save you big money.
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Old 26th October 2014, 18:48   #3024
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Default Re: Automobile Insurance Queries? Ask me

Any idea if insurance companies offer zero percent depreciation insurance for the 5th year of ownership?
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Old 28th October 2014, 12:27   #3025
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Default Re: Automobile Insurance Queries? Ask me

Team BHP,

A big hi from Goa.

This is my first post out here. Hope I learn a bit from you experts and pass on a bit to those who need it.

I had a query about insurance for my to be bought Swift Vxi. Quoted 5.1L ex showroom. My dealer is quoting me 17.6K for the first year insurance in his quotation.

(i) Can I take my own? Say buy a policy online.

(ii) Eyeing HDFC Ergo. Are they fair, prompt in general experience?

(iii) Does a Zero Dep policy for the first year make sense? Since depreciation only starts after the first year. Pls correct me if wrong.
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Old 28th October 2014, 15:05   #3026
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Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ishlinea7260 View Post
Any idea if insurance companies offer zero percent depreciation insurance for the 5th year of ownership?
Yes, some Insurance co do offer zero dep for the 5th year of ownership. Ensure that the Insurance co who do so do have a cashless tie up with the workshop.
Quote:
Originally Posted by logmein View Post
(i) Can I take my own? Say buy a policy online.

(ii) Eyeing HDFC Ergo. Are they fair, prompt in general experience?

(iii) Does a Zero Dep policy for the first year make sense? Since depreciation only starts after the first year. Pls correct me if wrong.
To answer your queries serially
i) Absolutely, no one will stop you from doing so. Infact you will save money when buying online rather than buying it from dealer.
ii) They are competetive but ensure that they have tied up for cashless settlement with the workshop where you normally service the car.
iii) Definitely makes sense. First year of ownership is lot more emotional than the preceeding ones. Hence any damage is heart wrenching, for that extra peace of mind get the zero dep add on. Zero dep is an add on purchased along with the normal policy, it takes care of depreciation of parts under repair.
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Old 6th November 2014, 09:11   #3027
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Default Can one claim insurance for faulty ECM

My car's ECM is giving me issues of fluctuating/increasing RPMs. I am facing an ECM replacement of around 40K. I have a zero-dep insurance with Tata AIG since the last 3 years without any claims. Is it possible to claim insurance for a faulty ECM which needs replacement? The car company is informing me that this is not a wear and tear part, but since there's no accidental damage, I am not sure whether insurance company would entertain a claim in the first place.
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Old 6th November 2014, 10:37   #3028
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Default Re: Can one claim insurance for faulty ECM

Quote:
Originally Posted by kalpeshc View Post
My car's ECM is giving me issues of fluctuating/increasing RPMs. I am facing an ECM replacement of around 40K. I have a zero-dep insurance with Tata AIG since the last 3 years without any claims. Is it possible to claim insurance for a faulty ECM which needs replacement? The car company is informing me that this is not a wear and tear part, but since there's no accidental damage, I am not sure whether insurance company would entertain a claim in the first place.
I guess the answer will be no. Insurance is not for running repairs.

So is your car out of warranty ?
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Old 6th November 2014, 10:55   #3029
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Default Re: Can one claim insurance for faulty ECM

Quote:
Originally Posted by kalpeshc View Post
....
I am not sure whether insurance company would entertain a claim in the first place.
Quote:
Originally Posted by Altocumulus View Post
I guess the answer will be no. Insurance is not for running repairs.

So is your car out of warranty ?
As Altocumulus mentions, no. You cannot claim insurance unless it is an accident damage. Electronic or any other parts failing of "natural causes" are never covered. If you have warranty / extended warranty - this replacement should be done free of cost (assuming there was no tinkering made with the software) by the A.S.S. If the car is out of warranty, I'm afraid you'll have to pay for it. See if you can source it online somewhere as a used item from someone who has replaced the stock ECU to some full fledged race chip. Should save you some bucks.

Secondly, are you 100% sure that this is an ECU problem? May even be some basic sensor issue. I'd suggest checking with another service station / FNG before taking the plunge.
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Old 6th November 2014, 11:09   #3030
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Default Re: Can one claim insurance for faulty ECM

Thanks for the info.
The car's warranty expired 4 months back. I am more comfortable in getting the new ECM rather than opting for a pre-owned one as I am not sure what unknown issues I may get in the future. Also, the car's mechanical condition is quite good and I plan to keep it for 3-4 more years (it's a sparingly run car), and hence a new ECM seems more rational to me at this stage.

There was no tinkering done and the ECM has not completely died. It's causing increased RPMs in neutral and on depressing clutch. I too thought that it may be a sensor issue, but the tell-tale sign is that the car is working perfectly with a replacement ECM in trials.
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