Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 3rd June 2016, 05:54   #3556
Senior - BHPian
 
Join Date: Apr 2008
Location: Dombivli/Gurgao
Posts: 2,516
Thanked: 989 Times
Default Re: Automobile Insurance Queries? Ask me

Ok, so here goes the second half of my Accord insurance saga.

My original insurance company, ICICI Lombard, had first asked for an additional 30% premium over its own quotation and even after having paid that, was dragging its feet for issuing the policy document or even the cover note.

So I approached another agent who quoted the base premium (without the 30% hike from ICICI Lombard) and so I paid him the cheque and started waiting for the cover note. The agent promptly arranged for the vehicle inspection and report was submitted and cover note promised the same day.

Now the fun started. The car has a minor gash-like dent on its boot door which the agent said required some kind of approval from the higher ups in the insurance company and instead of same day, the cover note would be issued the next working day. Couple of working days later the so called approval hadn't been received yet, only, "it should come in a day or two". Then the agent stopped taking my calls.

I was now so pissed, I called him at a quarter to nine in the morning, five days after the story started, and pleaded with him to get his act together and get me the cover note, else I would be looking for alternatives.

Still no progress. Meanwhile I received an email with the renewal policy from ICICI Lombard, so I decided to end this chapter right away. I issued a stop payment on the cheque given to the other agent and texted him of my action and confirmed I didn't want to buy a policy from him. Right on cue, he called me back and promised the approval the very next morning. However I didn't need to listen to the crap now, so I stuck to my guns, although politely, abd finally he had to let go. He also promised to return the cheque back since he hadn't deposited it and now it was useless too.

However the cheque was never returned. Last morning I was shocked to see a text from my bank stating the cheque had been presented for payment. I double checked the status of the cheque and confirmed it was marked for stop payment. Sure enough a few minutes later another text informed me the cheque had been returned unpaid.

So beware of the agents lest they deposit the cheques and you go from pillar to post to recover the money.
honeybee is offline   (2) Thanks Reply With Quote
Old 3rd June 2016, 08:05   #3557
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,803 Times
Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by drmohitg View Post
My uncle is buying a new Tata Zest and giving his old Indica to Tata only to avail the ongoing exchange offer. Now my question is how can he get an NCB certificate made ( current Indica's insurance is from ICICI with a 50% NCB). ICICI people told him they would need a RC change to issue a NCB certificate. But how can he get that as the car will be bought by the dealer and then probably kept on parked for months till they find a suitable buyer. Whats the process in this case? Please help as the current valid insurance policy for his Indica is due for renewal on June 8 and he doesn't want to waste money in renewing the insurance for another year since the car is already being given off to the dealer ( the new ZEST is in transit).
See that's the difficulty in selling the car to a dealer. The ownership transfer takes too long and till that time the present car owner is liable for anything related to the car. What you could do is get the dealer signed copies of form 29, 30, delivery note, letter from dealer nullifying your liability for the car and hand over to ICICI with an application for the NCB certificate. Please note that the dealer will ask you for a valid Insurance since it is going to expire. Either your uncle or the dealer has to renew the same to maintain the validity for the ownership transfer (required by RTO). Once you get the NCB certificate, you can use the same to buy the Insurance for the new car.

Ensure one thing is that your uncle write a letter to the RTO about the change of ownership and attach the letter from dealer nullifying his liability for the car. So even if the dealer does not sell the car immediately your uncle is indemnified for the liability.

Last edited by ghodlur : 3rd June 2016 at 08:07.
ghodlur is offline   (2) Thanks Reply With Quote
Old 5th June 2016, 19:34   #3558
BHPian
 
Join Date: Sep 2007
Location: Pune
Posts: 239
Thanked: 102 Times
Default Re: Automobile Insurance Queries? Ask me

Today I visited the Honda showroom to enquire about the BRV. When I asked the question on whether I can take insurance from any other provider (other than Honda Assure), I was told that I have to take insurance from Honda Assure. I was told that claims are much easier handled with Honda Assure in any Honda workshop. When I asked whether I can claim my NCB from my current insurance, to that he agreed and said that I can get the NCB transferred.

Question: If I do decide to get the BRV, can I refuse to buy the standard cover provided by the dealer and go for an insurer of my choice? Has anyone done this with Honda (or Toyota)?
ptushar is online now   Reply With Quote
Old 6th June 2016, 08:20   #3559
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,803 Times
Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ptushar View Post
Question: If I do decide to get the BRV, can I refuse to buy the standard cover provided by the dealer and go for an insurer of my choice? Has anyone done this with Honda (or Toyota)?
You as a customer have every right to choose the Insurance for your car. I find the strong arm tactics of Honda to force customers for the Honda Assure totally unprofessional. This needs to be taken up with the Honda ombudsman or IDRA.

What best you can do is take an online quote which I am sure will be far less than what dealer is quoting for the BRV. Ask the dealer to match the quote. If they do, you can still buy the Insurance from Honda at least knowing that you have not been fleeced. If Honda continue their act of forcing to take the Honda Assure, tell them about cancelling the booking (provided there is an alternate Honda dealer in the city). Let us know how did you proceed.
ghodlur is offline   (3) Thanks Reply With Quote
Old 6th June 2016, 21:10   #3560
Distinguished - BHPian
 
Thad E Ginathom's Avatar
 
Join Date: Jun 2007
Location: Chennai
Posts: 6,988
Thanked: 5,021 Times
Default Re: Automobile Insurance Queries? Ask me

Whilst they would actually be within their rights to refuse to sell you a car, would they go so far just because of the lost commission on an insurance policy? If they just say that you are not allowed, or even go so far as to say that it it is the law... just call them liars. They are.
Thad E Ginathom is online now   Reply With Quote
Old 7th June 2016, 16:02   #3561
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,803 Times
Smile Re: Automobile Insurance Queries? Ask me

I recently renewed my Punto's Insurance with Future Generali which was to expire on 16th June 2016. Not that it was a smooth process, but had to argue with FG on a couple of things. For eg. The zero depreciation ad on cover cost was jacked up by 1.5K from last year. Previous year, the add on cover was calculated at 0.57% of the IDV whereas this year the quote showed 0.87% of the IDV. Upon enquiring FG explained that this was due to the age of the car. My argument was the factor used for calculation was steep - from 0.57 to 0.87. The general calculation is 0.1% increase (similar to 10% depreciation in IDV till 5 yrs of car ownership). FG put up their hands saying the add on cover cost could not be reduced, however they offered me 10% additional discount in the OD premium. All in all there was a drop of 1K from last year's premium after factoring the increase in the Third party liability and the service tax component. Total premium paid Rs 15119/-. Zero dep add on cover costed Rs 4306/- (plan 1).

Had got a better quote from Royal sundaram however RS is jinxed for me. Whenever I had bought a motor policy from RS, I ended up with a claim. This happened with my Santro, Fiesta and Punto too.

Few suggestions when renewing the Insurance (provided you have zeroed in the Insurer):
1) Cross check the quote received with the previous's year's quote.
2) When opting for add on covers, ensure the calculations are linear and not exponential.
3) Bargain hard. Bargain even harder.
ghodlur is offline   (1) Thanks Reply With Quote
Old 10th June 2016, 16:00   #3562
Newbie
 
Join Date: Jul 2011
Location: New Delhi
Posts: 24
Thanked: 11 Times
Default Re: Automobile Insurance Queries? Ask me

Thought this info may help, so I'm posting it here. This is only for Private Sector Insurers.
The source is - https://www.irdai.gov.in/ADMINCMS/cm...DF=AR&mid=11.1

Btw, I went with Reliance General Insurance (Zero Dep.+Consumables+Engine Cover+Unnamed 5 Passengers Cover@max value+Paid Driver). Felt I should let go off the invoice cover add-on. Got it done through the dealership which coordinates with Marsh India Brokerage Pvt. Ltd. to provide the Chevrolet Assured scheme. Got a good discount. The car (Sail Hatchback petrol) is just completing 1 year and the premium stands at Rs. 14,267.
Attached Images
 
jesj is offline   Reply With Quote
Old 15th June 2016, 16:11   #3563
Senior - BHPian
 
aaggoswami's Avatar
 
Join Date: May 2007
Location: Vadodara
Posts: 4,541
Thanked: 1,071 Times
Default Re: Pics: Accidents in India

With refernece to my accident described here :
http://www.team-bhp.com/forum/street...ml#post3992284 (Pics: Accidents in India)

I now need to sign a document, refer the image, without knowing the amount. The car is almost ready, and the bill shall be generated by tomorrow or so. Now, I have to sign this, provide this to surveyor who wants the stuff on his desk. Have to spoil a day just for these formalities, and he said scanned copy on mail wont work.

Has anyone else signed such document without knowing amount ? This is a cashless claim, but still some more clarity wont hurt.
Getting insurance claims concluded without transparency is tough.
Attached Thumbnails
Automobile Insurance Queries? Ask me-20160615_152941.jpg  

aaggoswami is offline   Reply With Quote
Old 15th June 2016, 16:34   #3564
Senior - BHPian
 
schakravarthy's Avatar
 
Join Date: Dec 2013
Location: KA 09 / KA 02
Posts: 1,115
Thanked: 3,011 Times
Default

Quote:
Originally Posted by aaggoswami View Post


Has anyone else signed such document without knowing amount ?
I was asked to sign this document on the day when I left my car for repairs!! Needless to say, I flatly refused to sign and shot off a mail to the insurance agency.
Though it seems to be an established practice, it's highly irregular and you have every right to refuse to sign it without actually having seen the car to affirm if it indeed has been fixed to your satisfaction.
'Convenience' is one thing, blindly asking to sign a waiver is plain unethical.
schakravarthy is offline   Reply With Quote
Old 15th June 2016, 16:50   #3565
Senior - BHPian
 
Ace F355's Avatar
 
Join Date: Aug 2009
Location: Delhi NCR
Posts: 1,086
Thanked: 1,233 Times
Default Re: Automobile Insurance Queries? Ask me

I have a question.

So, as many of you know that I recently bought a pre-worshipped Fortuner from a fellow BHPian and I am getting it transferred to my name. I sold my Civic whose insurance had 35% NCB on it. Civic transfer is underway as well. I want to know whether I could use Civic's NCB to get a quotation on Fortuner's renewed insurance when I have the transfer process of both vehicles completed? Appreciate any help on this.
Ace F355 is offline   Reply With Quote
Old 15th June 2016, 17:11   #3566
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,803 Times
Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Ace F355 View Post
I sold my Civic whose insurance had 35% NCB on it. Civic transfer is underway as well. I want to know whether I could use Civic's NCB to get a quotation on Fortuner's renewed insurance when I have the transfer process of both vehicles completed?
Yes, you can use the NCB accumulated while buying/renewing Insurance for your new car. if the Insurance is bought from the same Insurer of Civic, then the process will be lot smoother as they would not have to issue the NCB certificate. If it is different Insurer, ensure that you get the NCB certificate from the Civic Insurance co.
ghodlur is offline   Reply With Quote
Old 16th June 2016, 13:33   #3567
BHPian
 
akshay380's Avatar
 
Join Date: Sep 2011
Location: Goa/Bangalore
Posts: 626
Thanked: 360 Times
Default Re: Automobile Insurance Queries? Ask me

The Fiesta's insurance done by previous owner is expiring in August. It has 50% NCB. The car got transferred to my name on 10th June 2016. Can I directly avail a new policy on my name from today instead of transferring his old policy to my name? I believe in any case the NCB is not transferable and anyway will be shifting to a different insurance provider. TIA.
akshay380 is offline   Reply With Quote
Old 16th June 2016, 16:30   #3568
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 4,805
Thanked: 1,803 Times
Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by akshay380 View Post
The Fiesta's insurance done by previous owner is expiring in August. It has 50% NCB. The car got transferred to my name on 10th June 2016. Can I directly avail a new policy on my name from today instead of transferring his old policy to my name? I believe in any case the NCB is not transferable and anyway will be shifting to a different insurance provider. TIA.
You can do that, there are no issues in that provided that the Insurance co cancels the old policy and issues a new policy to you. This is faster but I think the Insurance co will inspect the car before issuing the policy to you. I would suggest changing the Insurance ownership would be the correct way to proceed. All you need is to provide the new RC with changed ownership and some fee. You can renew later in August.
ghodlur is offline   (2) Thanks Reply With Quote
Old 16th June 2016, 21:32   #3569
BHPian
 
techiecal's Avatar
 
Join Date: Apr 2015
Location: Kolkata
Posts: 101
Thanked: 62 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by akshay380 View Post
The Fiesta's insurance done by previous owner is expiring in August. It has 50% NCB. The car got transferred to my name on 10th June 2016. Can I directly avail a new policy on my name from today instead of transferring his old policy to my name? I believe in any case the NCB is not transferable and anyway will be shifting to a different insurance provider. TIA.
Transferring the insurance to your name for remaining 2/3 months is easy. All you have to do is provide the transfer documents/RC, pay the extra premium amount for 2/3 months in lieu of the 50% NCB and a small transfer charge. It is done on the spot in the case of Bajaj Allianz.

In case the extra payment in lieu of the 50% NCB is substantial then forget the sellers insurance and go for a fresh one.

Last edited by techiecal : 16th June 2016 at 21:36.
techiecal is offline   (1) Thanks Reply With Quote
Old 19th June 2016, 20:39   #3570
Senior - BHPian
 
aaggoswami's Avatar
 
Join Date: May 2007
Location: Vadodara
Posts: 4,541
Thanked: 1,071 Times
Default Re: Automobile Insurance Queries? Ask me

Update for my Swift accidnet :
I got my Swift back on 16-June-2016.
Total damage to pocket : Rs. 2800+1500 ( for towing ).
Experience wasn't exactly bad and in any case I had to give the document signed and handed over to surveyor. Post that, the payment was processed and my car was ready to be delivered to me.

I had taken insurance from Maruti ( tie up of Maruti with New India Assurance ), no parts were given back to me. Also, the towing amount of Rs. 1500/- wasn't deducted from the total bill of Rs. 2800/- which I had to pay to Kiran Motors for Gas charging, etc. Upon inquiry with the surveyor, he told me that my car's suspension wasn't damaged, radiator was OK, condenser was OK so the car was in drive-able condition. Hence the towing charge could not be passed. As per him, damage was on headlight, right side member running upto strut mounting, bumper, grille and wiper washer container. This did not seem massive enough, hence towing amount was not deducted. Am not aware if this is right or wrong, but the car is with me, running fine.

I hope the above information or experience is helpful to readers. I think I lost Rs. 1500/- but thats OK with me.
Shall post my entire experience in Accidents in India thread. And I don't think I will change the insurance company now. The cashless is really a nice facility IMO. Earlier I had posted in Swift test drive and review thread about my plans to change the insurance company.

EDIT : The total cost of repair was Rs. 28xxx ( paid by Insruance )+ 2800 ( A/C gas, etc.) which I had to pay + 1500 ( towing ).

Last edited by aaggoswami : 19th June 2016 at 20:41.
aaggoswami is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Health insurance queries? Ask me! Haste Shifting gears 350 22nd November 2016 19:29
Queries in 'Ask the gurus' section rocksterraghu In-Car Entertainment 695 9th August 2016 07:54
Automobile Insurance - FAQ rjvora_2000 Indian Car Loans & Insurance 71 28th October 2015 18:28
P-150 classic for sale .What can i ask for jango Motorbikes 1 31st March 2006 12:51


All times are GMT +5.5. The time now is 02:01.

Copyright 2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks