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Old 25th October 2015, 16:42   #3316
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by WindRide View Post
My car is now 5 years old (always insured with bajajalianz) and I now want to move from comprehensive coverage to third party liability only, since my usage is very low.
Surprisingly, bajajalianz website doesn't provide option to convert comprehensive to third part liablity only while tying to renew online.
Can anyone help on how to go about convering a comprehensive coverage to third party liability only coverage while renewal?
I am not sure if you can do this online, but it is possible at their branch. Since you are in Bangalore, you can go to the Bajaj Allianz office in Rajajinagar (building: Golden heights) which is their main branch. The others are satellite branches and may not take this request.

There you can request for cancellation of the comprehensive, take a new TP policy and pay for it by card etc. Perhaps you can do it just before the renewal time.
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Old 27th October 2015, 18:47   #3317
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My Aria met with and accident in march 2014. The details detailed story is available here

http://www.team-bhp.com/forum/test-d...ccident-6.html (Tata Aria Pride 4x4: Owner's pain & frustration. EDIT: Saves 3 lives in an accident!)

The summary is
IDV was 11.6 lacs
Workshop repair estimate 17 lacs
Insurance company insisted that their liability is only 5 lacs hence car must be repaired
The car was repaired, total repair bill is 10.97 lacs
The company didnt accept engine repair as their liability and have put that burden on me. The final computation is as follows:
Total parts cost with taxes: Rs 866103.11
Total labour: Rs 57000
Total cost of repairs: Rs 923103
Depreciation amount: Rs 299,230.37
Insurance companies liability: Rs 577203
Now IRDAI guidelines says " IDV shall be treated as the ‘Market Value’ throughout the policy period without any further depreciation for the purpose of Total Loss (TL) / Constructive Total Loss (CTL) claims.

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and / or repair of the vehicle, subject to terms and conditions of the policy, exceeds 75% of the IDV of the vehicle. "

Though the total cost of repair is more than 75% of IDV, the insurance company insists that since their liability is less that 75% of IDV hence i cannot claim total loss. No where i could find the term company's liability in total loss case.
Is my case a total loss one or am i getting it wrong?

Also the insurance company insists that the engine kept running after the accident hence all the engine damage is consequential and out of company's liability. With such an extensive damage its impossible for the engine to remain running. Even if i believe the theory that the engine might be running its beyond the control of driver. How does that constitute a total loss?

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Old 27th October 2015, 21:57   #3318
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Default Re: Automobile Insurance Queries? Ask me

Is there a limit for the number of claims that can be made with a bumper to bumper policy? Some agent said it's valid only for 2 claims. After that it turns into a comprehensive policy for the rest of the year
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Old 27th October 2015, 22:53   #3319
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It depends on the policy. Most zero dep insurance support only two claims in a year, however there are few which support multiple claims but charge a higher premium. I had a multi-claim policy with IFFCO-Tokio but paid Rs 6000 extra for IDV of 4 lacs.
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Old 28th October 2015, 08:35   #3320
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Quote:
Originally Posted by bravo82in View Post
IDV was 11.6 lacs
Workshop repair estimate 17 lacs
Insurance company insisted that their liability is only 5 lacs hence car must be repaired
This is a clear case of total loss. How did the Insurance co come to the conclusion that their liability is only 5L (30% of the repair cost)? Did the Aria have the feature of automatic fuel cut off in case of collision, this feature is std now in most high end and even mid end cars. So even if the engine was running and caused engine damage, how could the owner be held liable for that. IMHO the Insurance co is BSing you, you need to take the issue to the Insurance Ombudsman or write to IRDA if the Insurance co stance is unchanged.

If the car is declared as total loss then it is their responsibility to pay the declared/agreed IDV. If the repair cost exceeds 75% of the IDV value agreed, then it is declared as CTL. Nowhere in the policy document is it mentioned that Insurance co's liability if less than 75% of IDV, then it cannot be declared as total loss. Take the Insurance co to the consumer courts.
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Old 28th October 2015, 15:39   #3321
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Originally Posted by ghodlur View Post

IMHO, you should stay away from both. Do only these two Insurers have a cashless tie up with the Mahindra workshop where you service the Scorpio? If there are others, it will be worth checking out with them and getting a comparison quote. Have the IDV calculated correctly and then take the online quote.
I am retaining the same IDV as last year, i.e. 7 lakhs
Tata Aig is quoting 22k and Future Generali is quoting 20.6k. Both have tie-ups with Sireesh Auto Hosur.
FG has lesser tie-ups with other garages.
Other than cashless facility, is there any other benefits of tie-ups?
BTW, how is the feedback on future Generali?
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Old 28th October 2015, 16:11   #3322
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Quote:
Originally Posted by gypsyFreak View Post
I am retaining the same IDV as last year, i.e. 7 lakhs
Other than cashless facility, is there any other benefits of tie-ups?
BTW, how is the feedback on future Generali?
This means that you are over insuring your car and not applying the correct depreciation. This may be an issue in case of claims (during total loss only).

Apart from smoother financial transactions, there is not other major benefit of cashless tie up. This only makes your life a little bit smoother during claims.

FG is an established Insurance co and they have been aggressively trying to garner market but then again it depends on individuals as to how the Insurance co fared during claims processing. Atleast I had a relatively good experience with my present car Punto and my earlier car Fiesta.
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Old 30th October 2015, 23:31   #3323
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I'm buying a ford figo aspire and I have to do the insurance tomorrow by 10.30. I have planned to buy it directly from the same guys the dealer buys from - Royal Sundaram. It has a national tie up with ford.

But the dealer says that if I buy it directly, it will not be truly cashless and I have to do all the paperwork and talking to insurer for claims.

Also that after 3 claims the policy will change to comprehensive.

Any truth is these?
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Old 31st October 2015, 11:16   #3324
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by samaspire View Post
I'm buying a ford figo aspire and I have to do the insurance tomorrow by 10.30. I have planned to buy it directly from the same guys the dealer buys from - Royal Sundaram. It has a national tie up with ford.

But the dealer says that if I buy it directly, it will not be truly cashless and I have to do all the paperwork and talking to insurer for claims.

Also that after 3 claims the policy will change to comprehensive.

Any truth is these?
No. It doesn't matter where or how you buy the policy. If it is cashless or not entirely depends on whether the insurance company has tie ups with the workshop. Similarly, the policy becoming comprehensive - is nonsense. The claims process, % deduction etc depends on the policy terms, not where you buy the policy from.

The dealer is trying to scare you into buying insurance from him (and get his commission). You can ask him to match the quote you are getting direct and he will do it 100%.

Last edited by JohnyBoy : 31st October 2015 at 11:19.
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Old 31st October 2015, 12:47   #3325
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Quote:
Originally Posted by JohnyBoy View Post

No. It doesn't matter where or how you buy the policy.
Are you sure about this?

My car is insured with National Insurance, the policy issuing office being located at Bangalore.
During a recent claim, despite the provider being marked as having a cashless tie-up with the Tata SVC at Mysore, I was told that the said issuing office didn't qualify for the 'cashless' procedure and that I'd have to foot the bill and then seek a refund from the insurer.
This was independently confirmed by both the SVC and the insurer.
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Old 31st October 2015, 13:07   #3326
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by JohnyBoy View Post
The dealer is trying to scare you into buying insurance from him (and get his commission). You can ask him to match the quote you are getting direct and he will do it 100%.
I asked him to reduce his price. He denied and so I got it online and sent him the policy copy. Royal Sundaram has a tie-up with this workshop.
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Old 31st October 2015, 20:50   #3327
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by schakravarthy View Post
Are you sure about this?

My car is insured with National Insurance, the policy issuing office being located at Bangalore.
During a recent claim, despite the provider being marked as having a cashless tie-up with the Tata SVC at Mysore, I was told that the said issuing office didn't qualify for the 'cashless' procedure and that I'd have to foot the bill and then seek a refund from the insurer.
This was independently confirmed by both the SVC and the insurer.
This is news to me.
You are buying a particular (type of) insurance coverage. The services, t&c and provisions cannot be depended on where you buy from. Is this only a case with National Insurance (and other PSU insurers).
I will check with my friends, insurance agents and others. Will update when I get some clarification.
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Old 31st October 2015, 21:32   #3328
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My 2010 Nano CX met with an accident. The driver of the other car Swift Dzire at fault absconded leaving his car. The Tata Service Centre did not take my car in saying it was beyond repair. At the persuasion of TATA Motors , against my insurance claim they have now made an estimate of Rs 640000 and say I have to pay estimate charge of Rs 14000. Is this an accepted practice? Isn't the repair estimate very high ? Would be really grateful if any one could advise.The insurance cover is from Oriental. Thanks in advance.
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Old 31st October 2015, 21:33   #3329
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by amit162 View Post
My 2010 Nano CX met with an accident. The driver of the other car Swift Dzire at fault absconded leaving his car. The Tata Service Centre did not take my car in saying it was beyond repair. At the persuasion of TATA Motors , against my insurance claim they have now made an estimate of Rs 640000 and say I have to pay estimate charge of Rs 14000. Is this an accepted practice? Isn't the repair estimate very high ? Would be really grateful if any one could advise.The insurance cover is from Oriental. Thanks in advance.
6,40,000 for repair vs 3,25,000 for new vehicle ?!! Wont insurance company pay off the IDV value of a totaled car ?
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Old 31st October 2015, 22:38   #3330
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I think that is the idea since they do not want to repair it. Instead just get the insurance company to pay IDV. But the estimate preparing charges appear pretty high and I may barely get 50k or less. Plus my car was absolutely without any issues and going on fine.
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