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Old 7th July 2015, 14:01   #3211
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Default Re: Automobile Insurance Queries? Ask me

Hello guys, a friend's i10 Grand's windshield has been allegedly cracked by the daily morning car wash guy.

She wants to know if she should claim insurance for the same or pay from her pocket? Also, should she go to Hyundai service centre for the job or get it done somewhere outside?

-Bhargav
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Old 7th July 2015, 14:05   #3212
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Originally Posted by Octane_Power View Post
Hello guys, a friend's i10 Grand's windshield has been allegedly cracked by the daily morning car wash guy.

She wants to know if she should claim insurance for the same or pay from her pocket? Also, should she go to Hyundai service centre for the job or get it done somewhere outside?

-Bhargav
Would be around 5-7K in all, if she does it out of her own pocket. Weigh that against NCB savings, if they exist.
Windshield experts will replace the shield and file insurance, and she will have to pay a total of 1500-2000 bucks as installation. No claims on that.
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Old 7th July 2015, 15:36   #3213
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Originally Posted by panky12345 View Post
What are my options? Ombudsman?
Does this mean that you did get the car service at non authorized workshop and then raised a claim? You can get the workshop talk to the surveyor in your presence regarding the tax part. IMO the painting is also covered in the claim. All you need to pay is the compulsory deductible only since consumables will be taken care by the consumables add on cover and the balance repair charges by the zero dep add on cover. Any particular reason why you paid the repair charges upfront??

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I got the soft copy of the cover note, and then saw that the cc mentioned is 1400.
As far as I know, There IS not petrol 1.4 "fiesta 1.6 SXi ".
Call up the customer care and inform them of the discrepancies. The screenshot you attached do not show the cc details
Unfortunately your petrol car is converted into diesel one.
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Old 7th July 2015, 16:31   #3214
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Originally Posted by ghodlur View Post
Does this mean that you did get the car service at non authorized workshop and then raised a claim? You can get the workshop talk to the surveyor in your presence regarding the tax part. IMO the painting is also covered in the claim. All you need to pay is the compulsory deductible only since consumables will be taken care by the consumables add on cover and the balance repair charges by the zero dep add on cover. Any particular reason why you paid the repair charges upfront??
Thanks for your reply. The car was done at Automax Honda.. I did speak to surveyor and he was like "we dont pay the WCT under the policy". Also he told me that since the doors were already damaged, I need to pay the repair charges. The car was with them for 15 odd days and I was having a lot of trouble commuting to work.. Hence, settled the bill.
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Old 8th July 2015, 10:52   #3215
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Originally Posted by ghodlur View Post
The TPL only premium should hardly exceed 3K incl the taxes. 6K is a daylight robbery. The only options you have is to search for other Insurers. Have you tried online for BA, are the premium values same?
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I was renewing my insurance for the fiesta, and entered all the correct details.
I got a quote, picked out fiesta 1.6 SXi petrol from the options, and renewed the insurance. I got the soft copy of the cover note, and then saw that the cc mentioned is 1400.
As far as I know, There IS not petrol 1.4 "fiesta 1.6 SXi ".
What to do now?
Ive already mailed them the error.
While renewing my Ikon 1.6 insurance last week, I found out that Third Party liability (TPL) charge, which is fixed by IRDA, has been increased for year 2015-16. For a car above 1500 cc, the basic TPL charge is Rs. 4931. Add 150 rupees for PA and LL to driver and we have Rs. 5081. Add tax at about 14%, we get Rs 5792. So I went for comprehensive policy by paying total of 7000 rupees after all sort of discounts.

Mayankk,
Your Own damage premium could not be less than 3000 rupees after all discounts. It seems the “Policybachat” made a mistake here by selecting your car as 1400CC and thus offering a very low premium.

Fordday.
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Old 8th July 2015, 11:43   #3216
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Originally Posted by ghodlur View Post
Call up the customer care and inform them of the discrepancies. The screenshot you attached do not show the cc details
Unfortunately your petrol car is converted into diesel one.
The top of the image shows fiesta 1.6. Wonder what a 1.6 doratorq would be like, though.

Quote:
Originally Posted by fordday View Post

Mayankk,
Your Own damage premium could not be less than 3000 rupees after all discounts. It seems the “Policybachat” made a mistake here by selecting your car as 1400CC and thus offering a very low premium.

Fordday.
I didnt opt for any voluntary deductions, only "approved anti-theft" option.
Nowhere did it come up that they're issuing for 1.4 L. I made all the proper choices, model, year etc. We know our cars, don't we. And when the cover note came in the mail, it said 1400cc. Utter bull!
I've mailed the Iffco guys. They've asked for RC copy. Lets see.
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Old 12th July 2015, 17:40   #3217
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Hi experts,
I recently received my car insurance renewal quote from Bajaj Allianz. The quote - Rs. 11,062 - for a revised IDV of Rs. 434015 is higher than the Rs. 10247 that I paid for an IDV of Rs. 500000 last year to BA for the same policy. I have 50% NCB. When I called up, I was told this is because (1) the thrid party liability premium component has been increased across the board and (2) service tax has been increased.

This is in fact the same story they offered in 2014 at the time of renewal: premium was increased even though IDV was same and 50% NCB was in force.

Seems to me that something is not quite right: On the same policy, pay a higher amount for reduced IDV even with 50% NCB. Is this the norm now with car insurance?

Thanks
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Old 13th July 2015, 08:25   #3218
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I was told this is because (1) the thrid party liability premium component has been increased across the board and (2) service tax has been increased.
Third party liability had been increased since April 2015 but the difference from last years runs in few hundreds not more. Also the service tax increase was since June 1 2015 again the % increased has been 1.7% from last year. These two combined would not have increased the premium even when the IDV of your car has actually dropped. So definitely there is amiss, would suggest try logging in BA website as a new car owner or renewing from different insurer and see the results. You will be surprised for sure.
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Old 14th July 2015, 17:43   #3219
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Originally Posted by IcarusMan View Post
I was told this is because (1) the thrid party liability premium component has been increased across the board and (2) service tax has been increased.
I was also in the same position as you, a week back. Then I checked the details. What they are saying is correct.

You will get 50% NCB on your Own Damage premium. This figure will most likely remain same as your last year figure.

Now the third party liability premium is revised by IRDA every year. And our insurance companies have been able to successfully convince the IRDA to increase the TPL premium every year. This year the values are here.
Together with service tax increase, your total premium is going to increase from last year even if the IDV decreased.

Sadly this is going to be the state going forward.
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Old 14th July 2015, 18:46   #3220
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@ghodlur, @fordday: Thanks very much for your replies.

So, a rep from Bajaj Allianz called back and I again expressed my displeasure at being charged more every year since 2013 when I bought the insurance, even as IDV decreased. After some comments about the age of my car (it's going to clock 10 years soon, but I fail to see how this is relevant) he said he'd get back with an improved offer about a thousand bucks less than initial renewal quote. The whole thing is a bit dissapointing after I had selected BA based on positive reviews online.

Makes me (almost warmly!) remember when, like clockwork, every year RNS Motors would send their friendly insurance guy over to my house to pick up the cheque for my Alto's insurance. The ever shrinking bill always gladdened the heart and he used to be as appreciative of the tea served .

Quote:
Originally Posted by ghodlur View Post
Third party liability had been increased since April 2015 but the difference from last years runs in few hundreds not more. Also the service tax increase was since June 1 2015 again the % increased has been 1.7% from last year. These two combined would not have increased the premium even when the IDV of your car has actually dropped. So definitely there is amiss, would suggest try logging in BA website as a new car owner or renewing from different insurer and see the results. You will be surprised for sure.
Quote:
Originally Posted by fordday View Post
I was also in the same position as you, a week back. Then I checked the details. What they are saying is correct.

You will get 50% NCB on your Own Damage premium. This figure will most likely remain same as your last year figure.

Now the third party liability premium is revised by IRDA every year. And our insurance companies have been able to successfully convince the IRDA to increase the TPL premium every year. This year the values are here.
Together with service tax increase, your total premium is going to increase from last year even if the IDV decreased.

Sadly this is going to be the state going forward.
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Old 14th July 2015, 19:39   #3221
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I have a doubt guys.

My first year insurance premium with reliance was 26,868 Rs(including taxes) for my Verna , IDV 7,15,000 Rs and next month is my renewal. I contacted Reliance again to enquire about the Renewal premium and they told me this time it would be 16,466 (including taxes), they didn't tell me the IDV value.

My question is , is this 16,466 Rs calculated after taking into consideration first years 20% NCB or does it not reflect on the premium calculated for second year and gets accumulated ? Also there is no NCB amount mentioned on my policy document.
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Old 14th July 2015, 21:47   #3222
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I have a doubt guys.

My first year insurance premium with reliance was 26,868 Rs(including taxes) for my Verna , IDV 7,15,000 Rs and next month is my renewal. I contacted Reliance again to enquire about the Renewal premium and they told me this time it would be 16,466 (including taxes), they didn't tell me the IDV value.

My question is , is this 16,466 Rs calculated after taking into consideration first years 20% NCB or does it not reflect on the premium calculated for second year and gets accumulated ? Also there is no NCB amount mentioned on my policy document.
How much time did the insurance guys take to calculate this? From my understanding, they calculate the amount based out of a software that immediately throws values based on your account be them. They might base them on your name, phone number, email ID, vehicle registration number or insurance policy number, etc.

From my understanding, the NCB is usually adjusted while telling you the amount. For eg., if there wan't a claim in the past year, the software would provide values based on the same and adjust for NCB.

Having said that, I do not know if Reliance might have designed it avoid NCB and then offer discount only if the customer asks!
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Old 14th July 2015, 23:10   #3223
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How much time did the insurance guys take to calculate this?

Having said that, I do not know if Reliance might have designed it avoid NCB and then offer discount only if the customer asks!
Thanks.He told almost immediately. I will ask them again if they included the NCB or not. When I called Reliance over the phone they said my NCB was 0 , need to check with them on that again as well.
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Old 15th July 2015, 03:38   #3224
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Thanks.He told almost immediately. I will ask them again if they included the NCB or not.
That's interesting. You may try having a quick search on PolicyBazaar. That has helped me immensely. If you search well in advance of expiry date (30 to 45 days prior), various insurers would queue up to you with lowest prices. As compared to the prices displayed on the website, the incoming phone calls taht their sales reps would make are important. For some odd reason, they have even lower prices available with them. They would email the payment link and it is only on payment at that link one gets the lower committed price.

I have had experience of renewing insurance 90 days after expiry and now, 45 days before expiry. The amount paid for a comprehensive policy with NCB 90 days after expiry was 9k approx and the amount paid for a comprehensive policy without NCB (an accident claim of 24k) 45 days before expiry was 5.4k!

You might get an idea how important the timing plays an important role.

Last edited by ameyawaghmare : 15th July 2015 at 03:41. Reason: Incomplete Sentence
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Old 15th July 2015, 19:34   #3225
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Default Re: Automobile Insurance Queries? Ask me

Bajaj Allianz came back with a revised quote with a discount of about Rs. 1K from original quote. A small victory until next year's renewal...

Thanks, guys, for the inputs. A big to this thread.
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