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Old 4th June 2015, 16:55   #3181
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Originally Posted by DevendraG View Post
1> Is Insurance Transfer taken care by RTO or Insurance Company or Jointly? From what I understood, it's to be done at the Insurance Company with the same set of docs required for Ownership Transfer at RTO. Pls confirm..
Insurance transfer will be done by the Insurance co but to be followed up by either or both the buyer and the seller.

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2> When you say it should be initiated at the same time as Ownership Transfer, wouldn't I need the new RC copy to be submitted at the Insurance Company?
Not necessary, your old RC copy should be sufficient to start the insurance transfer process. You will need to forward the new RC copy to Insurance co once new RC is recd.

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3> Once the transfer is done, Insurance renewal (by buyer) needs to be done immediately or anytime before the expiry (previous owner policy)? For instance, if I (seller) still has 6-8 months before the policy expires
Once insurance ownership is transferred, it will be buyer's responsibility to confirm the validity of the policy. If it needs to be renewed immediately or later will have to be checked by the buyer. Seller can help in this case.

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4> Finally, I have a dilemma. I have a zero dep policy which expires on June 16, 2015. I have a claim (H.A.S.S Repair Cost is around 14-15K [Rear Bumper & Dent/Paint 2 panels] but I'll have to pay around 1-2K max) that I wish to take but am unsure whether I take it now or after renewal. Reasons:
a> Claim Later:
For - I'll get another year of Zero Dep insurance & I'll get my NCB too (20% - INR 1146).
Against - I plan to sell my car around Sep-Oct (relocation). So I lose my NCB which I can use for my next probable purchase after 2 years (assuming it's valid for 3 years)
b> Claim Now:
For: I retain my new NCB which will get me higher profit on my next purchase.
Against: I lose my current NCB. And probably, I might not get Zero Dep from current Insurer (or others too)
In either of the cases, you will lose NCB. even if you are planning to sell the car in the coming future your NCB will be zero unfortunately. My suggestion, claim now. Thats what Insurance is for. For the new vehicle start afresh.
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Old 8th June 2015, 13:06   #3182
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Default Re: Automobile Insurance Queries? Ask me

Hi. My car insurance is up for renewal, and the best quote from PolicyBazaar is for Universal Sompo.

It is a new company, and is a PSU JV to boot. So I would appreciate any feedback from members here who have evaluated or purchased a policy from them.

Thanks in advance.
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Old 8th June 2015, 13:15   #3183
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Hi. My car insurance is up for renewal, and the best quote from PolicyBazaar is for Universal Sompo.

It is a new company, and is a PSU JV to boot. So I would appreciate any feedback from members here who have evaluated or purchased a policy from them.
During my recent episode of Insurance renewal for my Punto, I had been given an quote from Universal Sompo by Policy Bazaar. Decided to check with them directly, unfortunately they had only renewal of Sompo insurance policies online. No new Insurance buying option was available online on their website. Called up their branch office in my city and they refused me Insurance with zero dep saying that zero dep is offered only for new car Insurances only. When I pointed them about Policy Bazaar's quote, they confirmed that such policies are not valid at all. When I further enquired with Policy Bazaar for clarifications, they said they are in talks with the Insurance co for distributing their policies. This was really disturbing. Kindly double check with the Insurance co's before you buy the policy.

Last edited by ghodlur : 8th June 2015 at 13:17.
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Old 8th June 2015, 13:20   #3184
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Kindly double check with the Insurance co's before you buy the policy.
I got in touch with Sompo too, but for a different reason. The PolicyBazaar guy said that Sompo has a cashless tie-up with my garage (VW Thane), but the workshop SA who handles insurance claims said that they don't. I ended up calling Sompo, and they confirmed that they DO have a cashless tie-up.

After reading your post, I guess I will have to call Sompo again. My car is two years old, and the PolicyBazaar quote is with zero dep add-on. So I have the same problem as you do.

Will update once I have cleared up the confusion.
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Old 8th June 2015, 13:26   #3185
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Originally Posted by TheLizardKing View Post
the PolicyBazaar quote is with zero dep add-on.
Please ensure that the zero dep add on cover cost is correct by cross checking with Insurance co. In my case for Bharati Axa quote by Policy bazaar the cost was 2500/- whereas Bharati axa's quote from online was Rs 3300/-.

Just use Policy bazaar quotes only to bargain with the Insurance co directly. Yes, it is a pain to answer Policy bazaar as to why not proceeding with the transaction.
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Old 8th June 2015, 13:27   #3186
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Default Re: Automobile Insurance Queries? Ask me

Has anyone tried these guys?

https://www.coverfox.com/

If yes, any feedback?

Cheers,
Vikram
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Old 8th June 2015, 15:01   #3187
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Has anyone tried these guys?
Vikram,

Thanks for the information. The site looks slick and the quotes offered are very competitive. But then again the cost of add on covers for a few Insurers are different from what are quoted by the Insurers directly. I have not dealt with them but the quotes look very much similar to the recent experience with Policy Bazaar.
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Old 8th June 2015, 15:46   #3188
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Default Re: Automobile Insurance Queries? Ask me

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....but the quotes look very much similar to the recent experience with Policy Bazaar.
I might try them when I renew my bike's insurance next month. The only thing I am wary about is giving out my phone number while getting a quote, which invariably leads to a deluge of calls from various insurance co's.

Cheers,
Vikram
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Old 11th June 2015, 11:56   #3189
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Default Re: Automobile Insurance Queries? Ask me

The Insurance for our 2010 Honda City is up for renewal and we've started getting calls from Bajaj Allianz, the provider for the last 3 years.

Surprisingly, the agent has again offered a zero-dep policy; despite this being the 6th year of the car.

Is the zero-dep so discretionary? The IDV is quoted at 4.7 lakhs for the SMT variant.

I'm just curious how flexible rules surrounding zero-dep policies really are; what am I bargaining for a zero-dep policy over a regular one?
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Old 11th June 2015, 13:25   #3190
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Originally Posted by libranof1987 View Post
Is the zero-dep so discretionary?
I'm just curious how flexible rules surrounding zero-dep policies really are; what am I bargaining for a zero-dep policy over a regular one?
Unfortunately the Add on cover provision by the Insurance co is not governed by the IRDA, so it is left to the Insurance co to their discretion as to till when the zero dep cover can be provided. Zero dep add on cover is another means of increasing the total premium and is being offered now for cars more than 5 years of ownership which earlier was the limit set by the Newer players in the Insurance sector.

Going forward I would not be surprised if the zero dep add on cover is provided by Insurance co or manufacturers for same time period as the road tax is being charged. Which means till the time the vehicle is road worthy who know you might get zero dep cover for a nominal cost.
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Old 12th June 2015, 10:28   #3191
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Default Re: Automobile Insurance Queries? Ask me

Hi. Thanks for this wonderful thread.

I have a query. Yesterday my car, which is habitually parked outside under some trees suffered its first casualty. One of the trees (a coconut tree nonetheless) decide to donate a coconut for the beautification of my car.

Long story short, I have a huge impact damage and hairline cracks all over my windshield. I have a comprehensive insurance (just my 2nd year) with Royal Sundaram. I just wanted to inquire if there are any Do's and Dont's before trying to claim insurance for the windshield. Would claiming insurance for the same pose a problem?
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Old 12th June 2015, 13:39   #3192
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I just wanted to inquire if there are any Do's and Dont's before trying to claim insurance for the windshield. Would claiming insurance for the same pose a problem?
Are you getting the windshield replaced at the workshop or outside them (For eg Windshield experts in your city if available)? Claiming insurance would not be an issue except that there will be depreciation applicable which means you will have to pay your contribution. This is on the assumption that you do not have a zero depreciation add on cover along with the comprehensive policy. If you have zero dep, then still you will have to pay some amount from your pocket (Compulsory contribution + consumables) but will be lesser.

One important thing to ensure during the claim is that the make of replacement windshield should be as much as possible the same brand. Many a times windshields of different brands are also installed as they match the size but have been reported to be of inferior quality. Plus ensure that the installation of windshield makes it water proof to avoid any future complications of water ingress due to bad quality rubber beadings/linings, improper glue adhesive used etc.

Check out these links.

http://www.team-bhp.com/forum/techni...tallation.html (Windshield Experts - Pathetic quality of installation)

http://www.team-bhp.com/forum/techni...ml#post3264998 (Windshield cracked. Need replacement)
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Old 12th June 2015, 14:39   #3193
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Are you getting the windshield replaced at the workshop or outside them (For eg Windshield experts in your city if available)? Claiming insurance would not be an issue except that there will be depreciation applicable which means you will have to pay your contribution. This is on the assumption that you do not have a zero depreciation add on cover along with the comprehensive policy. If you have zero dep, then still you will have to pay some amount from your pocket (Compulsory contribution + consumables) but will be lesser.

One important thing to ensure during the claim is that the make of replacement windshield should be as much as possible the same brand. Many a times windshields of different brands are also installed as they match the size but have been reported to be of inferior quality. Plus ensure that the installation of windshield makes it water proof to avoid any future complications of water ingress due to bad quality rubber beadings/linings, improper glue adhesive used etc.

Check out these links.

http://www.team-bhp.com/forum/techni...tallation.html (Windshield Experts - Pathetic quality of installation)

http://www.team-bhp.com/forum/techni...ml#post3264998 (Windshield cracked. Need replacement)
Thanks a lot for the useful information. I am located out of Bangalore. I called up Honda, but they still have not provided me a quote. I also called up Windshield Experts and I was told that they will do the necessary and gave me a decent sounding quote. They said they will fit an Asahi glass. Are they to be trusted?

One major problem with windshield experts is that they do not have cashless facility with Royal Sundaram. In such a case, how soon should I expect Royal Sundaram to pay up, and will it be a hassle to get the same done?
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Old 12th June 2015, 14:59   #3194
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I might try them when I renew my bike's insurance next month
My bike's insurance was expiring on June 09, not next month

So, compared various quotes on this website with New India Assurance (the existing insurer). Turned out that the latter's quotes were lesser for almost same IDV, so went with that, and paid Rs.1185 for an IDV of approx. 53.5K.

Cheers,
Vikram
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Old 12th June 2015, 15:36   #3195
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Originally Posted by devious.mojave View Post
They said they will fit an Asahi glass. Are they to be trusted?

One major problem with windshield experts is that they do not have cashless facility with Royal Sundaram. In such a case, how soon should I expect Royal Sundaram to pay up, and will it be a hassle to get the same done?
As I said, confirm the present wind shield glass make. If it is Asahi, then you could go for the same brand. Confirm with Windshield from where are they sourcing the glass?

It would always be preferable to have a cashless transaction. Just for sakes ask RS if they have tie up with WindShield Experts. if they have then nothing like that. Paying upfront and then claiming from RS would be a bit painful IMO.
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