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Old 22nd September 2016, 15:47   #3631
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Default Re: Ridiculous quote by Bajaj Allianz

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Originally Posted by nilanjanray View Post
Last year I paid Rs. 19.3K for my Fortuner, and this year, after no claims, they send me a renewal quote for Rs. 42500. Lol. Don't they have any QC checks for errors before the systems shoots of some automated email?

Tempted to use PolicyBazaar and go with some other insurer.
There is no harm in shopping around for Insurance. Most insurers will offer a better deal for a new customer than to their existing customers. Ensure that they have cashless facility at Toyota service centres.
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Old 22nd September 2016, 15:47   #3632
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Default Re: Ridiculous quote by Bajaj Allianz

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Originally Posted by nilanjanray View Post
Last year I paid Rs. 19.3K for my Fortuner, and this year, after no claims, they send me a renewal quote for Rs. 42500. Lol. Don't they have any QC checks for errors before the systems shoots of some automated email?

Tempted to use PolicyBazaar and go with some other insurer.
Lol! Happened with me too. But the quote wasn't more than double as in your case.

I think the increases in third party liability premium and service tax contributed to the higher premium quote. In your case, they may have included some additional add-ons to almost double the premium!
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Old 22nd September 2016, 16:52   #3633
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Default Re: Ridiculous quote by Bajaj Allianz

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Originally Posted by speedmiester View Post
There is no harm in shopping around for Insurance. Most insurers will offer a better deal for a new customer than to their existing customers. Ensure that they have cashless facility at Toyota service centres.
That is a silly policy, since there is little lock-in for an automobile insurance customer. Car insurance is a commodity.

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Originally Posted by Dry Ice View Post
Lol! Happened with me too. But the quote wasn't more than double as in your case.

I think the increases in third party liability premium and service tax contributed to the higher premium quote. In your case, they may have included some additional add-ons to almost double the premium!
It was a system generated email that didn't factor in discounts. No microsegmentation done before blasting out emails, what are their marketing and analytics teams doing?

Am in half a mind to tweet about it, copying a few senior Bajaj Allianz folks.

P.S. excuse the typos in my original post, should read "the system shoots off some automated email"
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Old 22nd September 2016, 18:24   #3634
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Default Re: Ridiculous quote by Bajaj Allianz

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That is a silly policy, since there is little lock-in for an automobile insurance customer. Car insurance is a commodity.
That's what it is, a silly policy. This is as explained to me by a Sr. Insurance Professional. Most of the time, buyers don't shop around much and it is easy to retain them.
In your case, if the quote hadn't been a ridiculous amount compared to your previous year's premium, you wouldn't have bothered much and had it renewed with your existing insurer by now.
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Old 24th September 2016, 11:56   #3635
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Default Re: Automobile Insurance Queries? Ask me

Guys, A Big heads-up for everyone! Please AVOID, HDFC Ergo, I renewed my 0 Dep policy from them and its been almost 2 months i have to receive the endorsement copy of it, The cover note that i got had the wrong car model number noted down, Hence it would be an issue if ill have to make a major claim! What's worst is, The so called manager after giving me excuses like,"Sir 2014 Jetta model is not in our system" I literally am out of words, And after raising my voice after a month, The manager says, Find us If you can, Do whatever you can!
Imagine! Customer care number of HDFC ergo gets stuck after selecting the english language, I have the policy registered thats fine since i got a text message saying the same, But is this the way to treat the customer? I had got previous alerts from a couple of people saying they have had issues while claiming insurance from HDFC ergo as well.

I will look into the matter in a more detailed way once i get some time on our hand, They soo called manager has to be taught a lesson.
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Old 24th September 2016, 17:08   #3636
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Default Re: Automobile Insurance Queries? Ask me

Guys,a question related to insurance.

I sold off my old car, and transferred the NCB(35%) to new vehicle. With this, even though the insurance cost was 27000 approx, I got a cheque back from insurance company for 11000 approx.

What would be the NCB for 2nd year of insurance ? Because looking at the new policy I dont see any mention of NCB percentage. Would it mean a standard deduction of 10% ?
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Old 24th September 2016, 18:14   #3637
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ptaneja View Post
Because looking at the new policy I dont see any mention of NCB percentage.

In my case, I can see the NCB 50% in my policy schedule, though it is not there in the proposal form or the initial page.

I have a slighlty different scenario - instead of a new car, I purchased an used car and I could use the NCB letter which I got from the insurer of the 1st car for availing the NCB in the policy for my new car, in the second year .

Just recheck your policy schedule

and ptaneja, your profile pic is a scream. I spent few seconds wiping my monitor thinking that an insect was crawling there!


Quote:
Originally Posted by Tanveer_2558 View Post
have to receive the endorsement copy of it, The cover note that i got had the wrong car model number noted down,
Oh boy, I had the same problem - wrong car model number written by Universal sompo. I had taken the policy thru policybazar. But these guys were highly responsive and I got an endorsement of the change very quickly - within 48 hours.

Last edited by haria : 24th September 2016 at 18:19.
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Old 24th September 2016, 21:33   #3638
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by haria View Post
In my case, I can see the NCB 50% in my policy schedule, though it is not there in the proposal form or the initial page.

I have a slighlty different scenario - instead of a new car, I purchased an used car and I could use the NCB letter which I got from the insurer of the 1st car for availing the NCB in the policy for my new car, in the second year .

Just recheck your policy schedule

and ptaneja, your profile pic is a scream. I spent few seconds wiping my monitor thinking that an insect was crawling there!
I got to find out how would mine work out. What exactly is policy schedule ? My present insurance is from National Insurance.

Good you just wiped the monitor, and not hit it with something to squash the bug
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Old 24th September 2016, 22:54   #3639
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ptaneja View Post
I got to find out how would mine work out. What exactly is policy schedule ?
This maybe worded differently - L&T insurance used to call this Policy certificate. Universal Sompo is calling this policy schedule. This contains details of the computation like Basic damage, liability, etc. In that my policy is having a line stating NCB 50% (This is actually carried over from my previous car's NCB letter)
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Old 27th September 2016, 10:57   #3640
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Default Re: Automobile Insurance Queries? Ask me

Hello All,

I have a Fiat Linea Active whose insurance coverage is expiring in a week's time. I had Royal sundaram all this while, with the spate of refusals of coverage that I heard from Royal, I am wondering if it is wise to stick to them.

Last year IDV was 4,70,000. Insurance quoted for the next period is 16,900.

I am getting the sense that it's not worth it with these guys. Any ideas on how to shop for a better deal ?

Call from yellow page numbers or any other preferred method ?

It's bangalore registered but hyderabad garaged for now.

An answer within this week would be highly appreciated. Thank you all in advance for reading and responding to this request.
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Old 27th September 2016, 13:22   #3641
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Smile Re: Automobile Insurance Queries? Ask me

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Originally Posted by NoMind View Post
Any ideas on how to shop for a better deal ?.
Surprised to know that you were having a bad time with RS. Generally they are very professional atleast in Mumbai.

To start with
1) Calculate the correct IDV which should be around 4.23L and check whether the premium is calculated on this value.
2) Check with the Fiat workshops in H'bad with which Insurance co do they have cashless tie up.
3) Enquire which of the above Insurance co have a good claim processing record. Generally the workshops are biased about few Insurance co so just make a note.

Once the above information is available, put in these values in any comparator sites such as Policybazaar or Coverfox etc. Get the quotes but don't commit. Then get the online quotes from the Insurance co as per point no 2. Now compare line by line. The lowest quote does not necessarily mean good service. Take an informed decision.

Just FYI, Future Generali has a national tie up for Fiat all over India. I am not advertising FG here, just stating facts.
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Old 27th September 2016, 16:47   #3642
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Default Re: Automobile Insurance Queries? Ask me

I bought a bike recently, but the insurance policy they gave me had the wrong engine number - i returned it to them for correction.
They have now given me the original policy document (with the wrong engine no) and another printout with the correct engine no (but with IDV and premium fields showing 0)

The dealership says that as long as i have both documents, thats enough - is this true?
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Old 27th September 2016, 17:07   #3643
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Surprised to know that you were having a bad time with RS. Generally they are very professional atleast in Mumbai.

To start with
1) Calculate the correct IDV which should be around 4.23L and check whether the premium is calculated on this value.
2) Check with the Fiat workshops in H'bad with which Insurance co do they have cashless tie up.
3) Enquire which of the above Insurance co have a good claim processing record. Generally the workshops are biased about few Insurance co so just make a note.

Once the above information is available, put in these values in any comparator sites such as Policybazaar or Coverfox etc. Get the quotes but don't commit. Then get the online quotes from the Insurance co as per point no 2. Now compare line by line. The lowest quote does not necessarily mean good service. Take an informed decision.

Just FYI, Future Generali has a national tie up for Fiat all over India. I am not advertising FG here, just stating facts.
I have not really claimed anything from any insurance company but they really hassled me the last time during renewal. They took 5 days to come assess, and issue the policy.

I had FG the first year. Let me follow that process you underlined and see where it takes me, by tomorrow. I would like to wind it up by Friday.

Thanks !
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Old 28th September 2016, 08:11   #3644
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The dealership says that as long as i have both documents, thats enough - is this true?
No. That's not true. Insurance policy document should always reflect the correct engine no. Please do not accept two policy papers, ask the Insurance co to provide one single document with all correct details. If required you may give them a copy of the RC which has the correct information about the bike.
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Old 28th September 2016, 08:19   #3645
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by greenhorn View Post
I bought a bike recently, but the insurance policy they gave me had the wrong engine number - i returned it to them for correction.
They have now given me the original policy document (with the wrong engine no) and another printout with the correct engine no (but with IDV and premium fields showing 0)

The dealership says that as long as i have both documents, thats enough - is this true?
Quote:
Originally Posted by ghodlur View Post
No. That's not true. Insurance policy document should always reflect the correct engine no. Please do not accept two policy papers, ask the Insurance co to provide one single document with all correct details. If required you may give them a copy of the RC which has the correct information about the bike.
Check the document issued with correct Engine No.

It is not necessary to have a single document to reflect all correct details. There is a provision of Endorsement on an existing/issued policy for many reasons including correction in data.

Does the title or any statement thereof say Endorsement in any form on top of the policy already issued, with correct policy number referred? If so, that is a valid document to carry alongwith the policy already issued. If not, get it clarified from the issuer on its validity and enact accordingly.
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