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Old 8th January 2016, 09:47   #3406
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If you opt for it, you will pay 1.5K + 1K during any claim. I normally do not opt for voluntary deductibles, take an informed decision.




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Originally Posted by RiGOD View Post
Yes, voluntary. There was an option to choose an amount for voluntary deductible inorder to save the premium and I chose Rs.1500. If it's left as zero the premium hovers somewhere around 21.5k. Will it be better if I leave it as zero?

(I have quoted a couple of slightly older posts on similar topic, OP please note)
A Question on voluntary deductible VD & NCB applied( order in which it is applied) which I noticed only this time. I opt for this VD clause consciously since last 2-3 renewals and it does help a bit.

In the LHS of the schedule (My 4Wheeler insurer is RS) , I see basic OD premium, then VD applied (deducted) and then NCB (in my case 50%). Shouldn't (or rather, couldn't?) the NCB be applied before VD, we could save a tidy sum if so. Are there specified norms around this 'order of application', or it varies across companies?
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Old 8th January 2016, 10:57   #3407
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Can the 1st owner (after he has signed & given the ownership transfer & insurance transfer) get the existing car insurance canceled for NCB / refund even before the ownership transfer is completed?

As of now, the registration transfer is in progress. As I understand, once this is completed, the 2nd owner can apply for the insurance transfer to his name. Is it possible for 1st owner to manipulate here in trying to get back his remaining insurance amount for the period till its expiry? (by adjusting it to his new car insurance premium?). I.e., is it possible to do so?

Also, can the 1st owner just claim his NCB part for his new car insurance? I believe it can be done only after I transfer the insurance to my name (after paying necessary delta due to the earlier NCB rebate provided). Right?

Last edited by null : 8th January 2016 at 11:12. Reason: NCB
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Old 8th January 2016, 11:28   #3408
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Shouldn't (or rather, couldn't?) the NCB be applied before VD, we could save a tidy sum if so.
The NCB is applied on the final OD premium which is calculated after all the deductions applicable (unfortunately). NCB deduction cannot be applied on the base OD premium. IRDA rules.

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Is it possible for 1st owner to manipulate here in trying to get back his remaining insurance amount for the period till its expiry? (by adjusting it to his new car insurance premium?).
The Insurance cannot be cancelled during the ownership transfer. You can apply for NCB to the Insurance co with the copy of the documents submitted during the ownership transfer and get the NCb certificate which can be used during the new car Insurance purchase.

You cannot get the amount back from the Insurance co for the remaining period of the Insurance policy but you can negotiate with the new owner for the amount paid as Insurance to be added in the car sale price.
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Old 9th January 2016, 09:20   #3409
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Default Re: Automobile Insurance Queries? Ask me

My third party policy has expired on 7th. Is it possible to renew it online?
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Old 9th January 2016, 13:52   #3410
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Default Re: Automobile Insurance Queries? Ask me

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My third party policy has expired on 7th. Is it possible to renew it online?
Check out your insurance company's website.

The question cannot be answered without you stating what company it is.
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Old 9th January 2016, 14:09   #3411
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The question cannot be answered without you stating what company it is.
The subject policy was TP only for car and was issued by New India Assurance Company. Their web site mentions that TP Policy is renewed/issued for two wheelers only.
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Last edited by Eddy : 12th January 2016 at 00:37. Reason: As requested
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Old 11th January 2016, 08:54   #3412
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Originally Posted by rajeev k View Post
The subject policy was TP only for car and was issued by New India Assurance Company. In their web site mentions that TP Policy is renewed/issued for two wheelers only.
Have you tried with other Insurers or you are fixated with New India. If the TP only policy cannot be renewed by New India on their website, try visiting their local branch. You should be able to renew there.
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Old 12th January 2016, 00:08   #3413
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Default Re: Automobile Insurance Queries? Ask me

Hey guys,

My 2011 registered HH Hunk is up for insurance renewal on the 19th of January.

When I tried to renew it online, this is the policy I ended up with when I wanted the following covers:



1) Own damage coverage
2) Third Party coverage
3) Return to invoice
4) No depreciation cover
5) Personal Accident Insurance upto Rs. 1,00,000 for pillion rider
6) Personal Accident Insurance for Owner/Driver

Automobile Insurance Queries? Ask me-oremium.jpg

My concern is the Rs. 0 for the Return To Invoice and No Depreciation covers. When I went through the IRDA documents, it said that RTI and ND is applicable on vehicles which is not older than 60 months. My bike will cross 60 months this January 20th.

What do I do?

Also, if ND and RTI are not applicable, is it sensible to increase the IDV though it might increase the premium as well?
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Old 12th January 2016, 00:31   #3414
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Originally Posted by ghodlur View Post
Have you tried with other Insurers or you are fixated with New India. If the TP only policy cannot be renewed by New India on their website, try visiting their local branch. You should be able to renew there.
Saturday and Sunday being holidays, I wanted to get it online.
Ultimately, I got it through the portal Easy Insurance on Saturday itself
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Old 12th January 2016, 08:19   #3415
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Originally Posted by ashwin.terminat View Post
Also, if ND and RTI are not applicable, is it sensible to increase the IDV though it might increase the premium as well?
I am not surprised with your addon covers not provided by the Insurance co. There is no return to invoice and zero dep add on covers made available to 2 wheeler as on date. Going forward there may be a possibility of the same or they may be available only for select 2 wheelers only (250cc and above I guess or worth more than 2L), I am not too sure.

If you increase your IDV, then you are over insuring your bike which may be scrutinized in case of total loss (god forbid). What you could have omitted was the option PA cover for pillion rider & unnamed passenger. You could have shaved off Rs 140 from the final premium amount.
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Old 12th January 2016, 11:00   #3416
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Originally Posted by ghodlur View Post
I am not surprised with your addon covers not provided by the Insurance co. There is no return to invoice and zero dep add on covers made available to 2 wheeler as on date. Going forward there may be a possibility of the same or they may be available only for select 2 wheelers only (250cc and above I guess or worth more than 2L), I am not too sure.

If you increase your IDV, then you are over insuring your bike which may be scrutinized in case of total loss (god forbid). What you could have omitted was the option PA cover for pillion rider & unnamed passenger. You could have shaved off Rs 140 from the final premium amount.
Thanks a ton.

I would like the PA cover to be there. The Rs. 140 is a small price to pay for a Rs. 1,00,000 cover.

So I will not get RTI or Zero Depreciation for my bike from any insurance company?

Could you please tell what is the safest insurance covers I can avail of? I don't mind the premium being high. Safe in terms of maximum coverage for the bike as well as for the people on the bike.

Thank you!
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Old 12th January 2016, 11:43   #3417
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So I will not get RTI or Zero Depreciation for my bike from any insurance company?
Return to Invoice is not available for 2 wheeler as of now, but I can see there are two Insurance co which offer zero depreciation add on cover. reliance Insurance and Universal Sompo. You might want to check them out. This is as per the info I got on Policy bazaar and coverfox. Please read the fine print before you opt for the add on covers especially from Reliance.

Again Universal Sompo is a relatively newer player, you might want to validate their claim proces with your workshop before you proceed. In fact do check out with the workshop whether they honor cashless claims and zero dep claims from these two Insurance cos.
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Old 13th January 2016, 19:29   #3418
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Default Re: Automobile Insurance Queries? Ask me

I am looking for some help on insurance. I am considering buying Ertiga through company lease. Can I select my own insurance for new car purchase through company lease?

Also, is there some insurance shopping sites that can give me quotes from multiple insurance providers so that I can compare prices?

Is zero-depreciation insurance advisable?

Thanks!
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Old 14th January 2016, 08:21   #3419
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Originally Posted by sanchari View Post
Can I select my own insurance for new car purchase through company lease?

Also, is there some insurance shopping sites that can give me quotes from multiple insurance providers so that I can compare prices?

Is zero-depreciation insurance advisable?
AFAIK, Car lease comes with Insurance included isn't it? I am doubtful if you can choose your own Insurance co coz a lot will depend upon the tie up between the car lease co and the Insurers/agents. You can try by requesting the car lease co to provide the list of Insurance co with whom they have tie up and if its possible to opt your choice.

Policybazaar, Coverfox are a couple of site where you can compare Insurance premiums from multiple Insurance providers

Zero dep add on cover is an absolute must. Goes long way in avoiding a major hole in the pocket during claims for a few thousands more in the premium.
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Old 18th January 2016, 12:54   #3420
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Default Re: Automobile Insurance Queries? Ask me

I have sold my old car but the new owner is yet to transfer the insurance on his name. It seems that the new owner does not realize that till the insurance is transferred in his name, he will not be able to make a claim. The only option available to me is that i should go ahead and submit the necessary documents and get an NCB certificate. This would however result in the cancellation of the insurance policy. Only the Third party insurance would be left intact. Kindly advise whether this is the right course/option for me. Also what do insurance companies do when the registration is transferred but not the insurance. Do they honour the claim? I did not get a clear answer from the insurance company. They mentioned that it can be processed in the name of the old owner subject to certain conditions.
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