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Old 27th December 2016, 14:54   #3721
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Default Re: Automobile Insurance Queries? Ask me

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I have an hdfc ergo nil depreciation insurance on my XUV 500. My car has met with two separate incidents resulting in scratches and dents on right side driver door and left side passenger door.

While claiming for insurance the workshop asks me to do two separate claims. So I will have to pay the Rs. 2000/- mandatory deduction, twice. Is this the normal/standard practise? Why isn't this treated as a single claim? Well there be any impact if I do a multi claim? Are there any other issues that I should be worried about while claiming insurance and getting repair done (this is my first experience)?

NB: I have unlimited nil depreciation claims, so doesn't affect me much. But if there was a limit (usually 2) on the number of nil depreciation this will affect the future claims as well.
Strange; all the workshops care about is getting maximum repairs/replacements, since that gets them revenue. It shouldn't matter to them whether it is under one/multiple claims. Unless they get a cut from the surveyor or the insurance company for the no. of claims worked on.

Can the damages be explained in some way to have happened in the same accident? If so, push for a single claim.
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Old 28th December 2016, 19:57   #3722
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Default Re: Automobile Insurance Queries? Ask me

A typical insurance claim will cover only one incident at one time.

So unless you are able to successfully claim that you got yourself sandwiched between two vehicles and that resulted in those two scratches on either side .. you're out of luck getting both claims processed.

Besides zero dep or not you are going to get a big NCB hit + raised premium

Check for yourself what the cost of painting is, and what the cost is if you go to an independent garage rather than a dealer's service centre. And then see whether this cost can't be paid by you rather than taking the ncb hit and paying extra premium, which will cost you a lot more.
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Old 28th December 2016, 20:21   #3723
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Quote:
Originally Posted by vjjustin View Post
While claiming for insurance the workshop asks me to do two separate claims. So I will have to pay the Rs. 2000/- mandatory deduction, twice. Is this the normal/standard practise? Why isn't this treated as a single claim? Well there be any impact if I do a multi claim? Are there any other issues that I should be worried about while claiming insurance and getting repair done (this is my first experience)?
Unfortunately that is the case, you will have to make two separate claims which means compulsory deductible charged twice. Unless you can prove that both the damages are from same incident and surveyor agrees to it, then only one claim would suffice and so will one compulsory deduction.

The impact of one or more claim is NCB becoming zero during next renewals with jacked up premium. The only other issue which you need to be aware is whether the zero depreciation add on cover from the Insurer allows multiple claims in any policy year. Most Insurance co allow 2 claims per policy year under zero dep add on.
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Old 28th December 2016, 20:31   #3724
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by vjjustin View Post
I have an hdfc ergo nil depreciation insurance on my XUV 500.

1. My car has met with two separate incidents resulting in scratches and dents on right side driver door and left side passenger door.

2. While claiming for insurance the workshop asks me to do two separate claims. So I will have to pay the Rs. 2000/- mandatory deduction, twice. Is this the normal/standard practise?

3. Why isn't this treated as a single claim? Well there be any impact if I do a multi claim?

4. Are there any other issues that I should be worried about while claiming insurance and getting repair done (this is my first experience)?

5. NB: I have unlimited nil depreciation claims, so doesn't affect me much. But if there was a limit (usually 2) on the number of nil depreciation this will affect the future claims as well.
1. As hserus states

Quote:
So unless you are able to successfully claim that you got yourself sandwiched between two vehicles and that resulted in those two scratches on either side
However, it is possible to get both/multiple claims processed at same time with proper justifications for incidents and acceptable reasoning on inability to report and get amended as and when they happened.

2. This is standard practice, unless you can justify something like hserus's quote above.

3. Again as per above points.
There won't be any impact on multi-claims, only multiple deductions and NCB getting zero and premium discount getting reduced.

4. Just make sure all the damages/issues however small and miniscule on respective sides falling under respective claims are meticulously noted by insurance surveyor, advisor and totally covered in claim as per the the coverage policy, and when the work is completed, they are completely done to your satisfaction covering all the issues falling under all the claims, otherwise, you will be loosing your hard earner NCB and discount for nothing. Additionally, if there is doubt that the part may not be restored to the satisfaction post repairs, stress upon and get approved for replacement of respective part at the time of claim processing/survey only.

5. Not at all, other than your NCB and future discounts.

Last edited by parsh : 28th December 2016 at 20:33.
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Old 29th December 2016, 17:39   #3725
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Default Re: Automobile Insurance Queries? Ask me

Hello,

I had crashed my 8month old Renalut Kwid and submitted all the documents to the insurance provided United India Insurance at Coonoor.

FIR, estimate and all documents and pictures as required by the insurer. The car was deemed total loss. Papers were submitted on 8th October and they even asked for my hospital bills which totalled to 1.25L.
Do you think the insurance will cover my hospital bills too? I wasn't aware of this.
Now the insurance people want me to get an NOC from the financier and sign a ₹100 bonded paper.
Is this all required? Shouldn't the insurer pay out without the NOC from the financier?

Nevertheless this is the last time I opt for insurance from a public company. Attitude is lax and they give a damn

Benny

Last edited by beejay : 29th December 2016 at 17:40.
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Old 10th January 2017, 13:23   #3726
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I have been going through various insurance quotes and Royal Sundaram quote mentions that Zero depreciation cover also includes coverage for consumables and their road side assistance covers everything from stay, commute and legal aid if required. Can anyone here confirm/deny the above based on their experience with RS?
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Old 10th January 2017, 14:00   #3727
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I have been going through various insurance quotes and Royal Sundaram quote mentions that Zero depreciation cover also includes coverage for consumables and their road side assistance covers everything from stay, commute and legal aid if required. Can anyone here confirm/deny the above based on their experience with RS?
Looking at the zero dep add on cover wordings on RS website, it does not say anything related to consumables. Please double check with them and if possible get it in writing. Generally some Insurance cos offer consumables as a separate add on cover and not include in Zero dep.

IMO Road side assistance from RS does not come with stay, commute and legal aid. For that matter most of the Insures do not provide it. the RSA is purely for the assistance of the car if there is a breakdown. The stay, commute are usually provided as a separate add on cover. Take an informed decision.
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Old 11th January 2017, 16:08   #3728
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Default Re: Automobile Insurance Queries? Ask me

I am now the proud owner of an einsurance account

How do I ensure that my car insurance gets captured in this eia when i renew it next year?
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Old 11th January 2017, 16:19   #3729
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I am now the proud owner of an einsurance account

How do I ensure that my car insurance gets captured in this eia when i renew it next year?
It will get capture automatically once you renew the car insurance. E-Insurance is nothing but a repository for all Insurance related document, you can have multiple types of Insurance under one account. Something very similar to the Mutual fund where you have one folio no and multiple funds under it.

E-Insurance hasn't gained that importance as of now but going forward it may be come mandatory.
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Old 12th January 2017, 08:32   #3730
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Looking at the zero dep add on cover wordings on RS website, it does not say anything related to consumables.
Did check and asked the sales rep to drop me a note confirming the same. Here is what it says
Quote:
Zero depreciation ( Bumper to Bumper )

In case of accidental damage, the below coverage is provided for for Basic Package Policy with Zero Depreciation Cover (Bumper to Bumper) Policy:

100% coverage is given - for all Rubber/Nylon/Plastic Parts/ Tyres and Tubes/ Batteries/ Air Bags/ Painting/ Denting/ Metal Parts/ Nuts and Bolts/ Fiber Glass Components and for all parts made of Glass/ Consumables and all parts which are inbuilt in the car and with multiple claims in a year.
Unlimited number of claims
Quote:
IMO Road side assistance from RS does not come with stay, commute and legal aid. For that matter most of the Insures do not provide it. the RSA is purely for the assistance of the car if there is a breakdown. The stay, commute are usually provided as a separate add on cover. Take an informed decision.
Again quoting what they sales folks have mentioned in their mail
Quote:
24x7 roadside assistance* (free service)
– Emergency Towing assistance
– Repair on the spot
– Flat tyre service
– Pickup of the vehicle in case of driver disability
– Emergency fuel delivery
– Vehicle Repatriation
– Legal Assistance
– Vehicle key service
– Assisting accommodation
[/SIZE][/FONT][/COLOR]
I was going through some articles about IDV and according to the motor tarrifs act, the depreciation for a 1-2 year old car is 20% of sales price but I do see a lot of folks on BHP reducing their IDV by ~10% in the second year while renewing insurance. What am I missing? Will this not impact claims in case of a write off?

Last edited by procrj : 12th January 2017 at 08:43.
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Old 12th January 2017, 08:37   #3731
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Originally Posted by procrj View Post
I was going through some articles about IDV and according to the motor tarrifs act, the depreciation for a 1-2 year old car is 20% of sales price but I do see a lot of folks on BHP reducing their IDV by ~10% in the second year while renewing insurance. What am I missing? Will this not impact claims in case of a write off?
I am surprised to see the same wordings not reflecting on their website. I doubt if the confirmation given to you is for selective persons basis.

As per the MV act, the IDV should be calculated on the basis on the current ex showroom rate for the model/variant of the car but since most Insurance co do not have their data bases updated, they still agree to the most widely accepted practice of reducing IDV by 10% of the last year's IDV while renewing. If the IDV calculated matches mostly with the MV act calculation, then it is OK.
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Old 12th January 2017, 08:57   #3732
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
I am surprised to see the same wordings not reflecting on their website. I doubt if the confirmation given to you is for selective persons basis.
Agreed. I have quoted from their site and asked the sales guy to confirm again. But they have a clause in their Zero dep policy which states that claims made under self authorization mode will not be covered. Does that mean that If I drive my car into a pole and want to claim zero dep, I cannot?

Quote:
If the IDV calculated matches mostly with the MV act calculation, then it is OK.
In my case there is a difference of about 25K between MV calculation of 20% and IDV 10% drop. In that case should I just stick to MV 20% value to be on the safer side?
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Old 12th January 2017, 09:32   #3733
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by procrj View Post
I was going through some articles about IDV and according to the motor tarrifs act, the depreciation for a 1-2 year old car is 20% of sales price but I do see a lot of folks on BHP reducing their IDV by ~10% in the second year while renewing insurance. What am I missing? Will this not impact claims in case of a write off?
I am giving below the relevant portions of the General Regulations No 8 of India Motor Tariff 2002, which are self explanatory

Name:  IMT GR 8 Cut.png
Views: 392
Size:  155.8 KB

The Key is the "List Price" - which usually keeps going up.

So a car which was say INR 500 K in Feb 2015 as list price and the similar model has a list price of say 550 K now, then the Insurer is bound to accept 550K less 20% (as per the IDV schedule) as the IDV

Current List Price (on location) + Value of Accessories (if any) less IDV Depreciation slab applicable is usually accepted as IDV by "reasonable" insurers - especially so in case of "good insured" (to be read as one with a claims free record of some sort or the other)

Trust this clarifies

Best Regards & Drive Safe

Ram
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Old 13th January 2017, 11:24   #3734
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Default Re: Automobile Insurance Queries? Ask me

This is the season like every year, when insurers are warming up to make the insurance premiums increase by convincing the IRDA about all their losses.

They have started floating stories in the media.

Headline
Motor insurance cos likely to report steep losses of over 150%

Link
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Old 13th January 2017, 20:54   #3735
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Hi Bhpians,
I have a query regarding car insurance. Our Tavera is registered in My Father's Name & I have been renewing its Insurance online in his name & is valid till 10 Feb 2017.

Unfortunately my Father passed away last year. Can I still keep renewing the insurance in his name? I understand this would be a problem in case if I have any claims later. On the other hand should I change the name in Car RC & similarly in Insurance documents ?

please advise me how should I go about handling this scenario.

Thanks in advance.
APV
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