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Old 25th March 2017, 10:41   #3766
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by handsofsteel View Post
I have just sold my car after expiry of insurance. No claims so I guess am entitled for a ncb of 20%. Am planning to buy a new car within the next month. What do I have to do to transfer the ncb from my previous policy as and when I buy it? Request guide.
Did you give an insurance transfer letter to the buyer? If before that you got the NCB transferred over well and good. Else that policy is technically expired so NCB expires with it.

You may have to convince the insurer to renew it with NCB
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Old 25th March 2017, 11:15   #3767
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Default Re: Automobile Insurance Queries? Ask me

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Did you give an insurance transfer letter to the buyer? If before that you got the NCB transferred over well and good. Else that policy is technically expired so NCB expires with it.

You may have to convince the insurer to renew it with NCB
Actually, I renewed my policy through policy bazaar on 05 Jan 17. Sold my car on 20 Mar. Post selling, when going through my documents, realised that hadn't got my cover note. So in effect, sold my car without insurance. Contacted policy bazaar, some glitch at their end,they are processing a refund. In light of this, do I have any hope?

Last edited by handsofsteel : 25th March 2017 at 11:16.
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Old 2nd April 2017, 22:14   #3768
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Is it possible to avail liability only insurance for a new car? Or is comprehensive insurance mandatory by law for a new car?
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Old 3rd April 2017, 00:16   #3769
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Default Re: Automobile Insurance Queries? Ask me

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Is it possible to avail liability only insurance for a new car? Or is comprehensive insurance mandatory by law for a new car?
Most definitely possible.

Actually never thought of it. But for the dealerships who refuse to deliver a car without buying insurance from there this is the best option.

Get Third party Insurance from the dealer.

Then get your own comprehensive insurance done.

Cancel the third party Insurance.
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Old 5th April 2017, 11:25   #3770
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Default Re: Automobile Insurance Queries? Ask me

Folks,
I've a query on IDV vs RTI (Return to Invoice)

My insurance is due for renewal by the end of this month. Tata AIG suggest opting for RTI, but provided an IDV of 7.2 L (CIAZ ZXI+ 2016) which is way too low

I find the RTI option OK, however my concern is that after 3 years will the IDV be substantially affected? RTI cannot be opted after 3 years.

Should i anyways increase the IDV and also opt for the RTI. According to the agent from AIG, if i opt for RTI then IDV is redundant, so n harm in opting for a higher amount?

Am i missing someting or is this a trap? Appreciate your views on the above.

Cheers
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Old 5th April 2017, 11:30   #3771
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by handsofsteel View Post
Actually, I renewed my policy through policy bazaar on 05 Jan 17. Sold my car on 20 Mar. Post selling, when going through my documents, realised that hadn't got my cover note. So in effect, sold my car without insurance. Contacted policy bazaar, some glitch at their end,they are processing a refund. In light of this, do I have any hope?
I got teh NCB letter from ICICI Lombard: Recap of events

1. Sold my car to the dealer in 2016 April (Insurance was valid till 2017 Feb)
2. Forgot all about getting the NCB after purchase
3. Last week when the insurance companies started calling for renweal, and seeing the premium amount, called up the ICICI customer support
4. Sent the delivery note, old insurance of the sold car and the new insurance to customer support
5. Letter confirming my NCB was dispatched by courier and received it in 3 days.

Hope tha above helps
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Old 5th April 2017, 13:05   #3772
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Smile Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by kutoos View Post
Folks,
I've a query on IDV vs RTI (Return to Invoice)
Firstly RTI is an add on cover and in no way related to the IDV.
Secondly IDV is not dependant on the RTI.

Returns to Invoice add on cover which is applicable only in case of Total loss where the Invoice amount of the car can be claimed. Generally the add on cover is offered during the initial years of ownership. So dont believe the agent if he tells that RTI is sufficient and IDV is immaterial.

Calculate the correct IDV and then get premium quotes from those Insurance co which have cashless tie up with the workshops where you service you car. Or find out with which company does the car manufacturer have a national tie up and opt for them.
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Old 9th April 2017, 14:28   #3773
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Guys I have to renew my cars insurance this month and had a few questions. I am currently insured with royal sundaram under Ford insurance. If I buy my policy online from policybazar , will ford dealers decline cashless repairs for the car. Do they perform cashless repairs only if the policy is purchased from them? I feel I can get a much more competitive quote online.
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Old 9th April 2017, 15:46   #3774
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Default Re: Ford Figo : Official Review

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Originally Posted by bullrun87 View Post
Guys I have to renew my cars insurance this month and had a few questions. I am currently insured with royal sundaram under Ford insurance. If I buy my policy online from policybazar , will ford dealers decline cashless repairs for the car. Do they perform cashless repairs only if the policy is purchased from them? I feel I can get a much more competitive quote online.
Don't fret. Just renew the same Royal Sundaram policy from the royal sundaram website. You are guaranteed to get better rates plus you can add on a few covers. Ford WILL give you cashless cover because RS is one of their preferred insurers.

I can say this with some authority because I have done the same thing, and I have also claimed the insurance without any special issues.
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Old 9th April 2017, 17:20   #3775
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Default Re: Ford Figo : Official Review

Quote:
Originally Posted by bullrun87 View Post
Guys I have to renew my cars insurance this month and had a few questions. I am currently insured with royal sundaram under Ford insurance. If I buy my policy online from policybazar , will ford dealers decline cashless repairs for the car. Do they perform cashless repairs only if the policy is purchased from them? I feel I can get a much more competitive quote online.
As long as you have an insurance policy from either of Bajaj Allianz, Iffco Tokio, Royal Sundaram or National Insurance, the dealership cannot deny you cashless repairs.

For the first year, I had Bajaj Allianz policy that was offered complimentary from the dealership and the insurance premium on the policy was Rs 17,700 odd. When the same was due for renewal,I received a renewal quote for the same policy from them(a company called Tata BSS) of Rs 19,300 odd. Funny thing was initially the policy could not be renewed online on Bajaj Allianz website as the policy was bought through the dealership.

I promptly went ahead and got a quote from Royal Sundaram website for the same IDV as the one quoted by Tata BSS. The premium difference was nearly Rs 5500 and without a no-claim bonus!!!! But I did opt for Rs 5000 as voluntary deductible amount (the quote from Taya BSS/Bajaj Allianz had 2500 as voluntary deductible). Needless to say, I bought that policy from Royal Sundaram.

National Insurance doesn't have online policy buying option. Iffco Tokio website is buggy. Better stick to Royal Sundaram or switch to Bajaj Allianz.

Last edited by Gannu_1 : 9th April 2017 at 19:10. Reason: Corrected as requested.
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Old 9th April 2017, 17:36   #3776
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I have been with Bajaj Allianz for all 6 years of Figo ownership. The policy is from dealer , Lathangi Ford, managed by Tata BSS. It's been absolute pleasure of service. Always been offered cashless claims, including depreciation shield. The increase in premium quotes is mostly due to steep hike in third-party insurance component.
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Old 9th April 2017, 17:54   #3777
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Quote:
Originally Posted by samaspire View Post
Don't fret. Just renew the same Royal Sundaram policy from the royal sundaram website. You are guaranteed to get better rates plus you can add on a few covers. Ford WILL give you cashless cover because RS is one of their preferred insurers.

I can say this with some authority because I have done the same thing, and I have also claimed the insurance without any special issues.
Quote:
Originally Posted by skanchan95 View Post
Funny thing was initially the policy could not be renewed online on Bajaj Allianz website as the policy was bought through the dealership.
I bought that policy from Royal Sundaram.

National Insurance doesn't have online policy buying option. Iffco Tokio website is buggy. Better stick to Royal Sundaram or switch to Bajaj Allianz.
I am facing the same issue. I am unable to renew from royal sundaram website as it was bought from the dealership. I called them up and they say that I will have to buy the policy from the dealer if i want to stick to royal sundaram. I guess I will give bajaj allianz a try then
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Old 9th April 2017, 19:58   #3778
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Default Re: Ford Figo : Official Review

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Originally Posted by ownerofazkaban View Post
The increase in premium quotes is mostly due to steep hike in third-party insurance component.
I have always believed that the insurance policies bought from the dealership have limitations in terms of renewals and they fleece you as the premiums are over priced.

These quotes were for my car's policy that was due for renewal on April 17, 2017 and these quotes were inclusive of the insurance hikes. This was confirmed by Bajaj Allianz and Royal Sundaram. I bought the Royal Sundaram policy on March 27,2017. I did not bother contacting Tata BSS as those fellows did not even have the courtesy to reply to my query of why the quoted premium was higher than the first year premium. All these quotes did not have depreciation waiver cover.

This was the quote received from Tata BSS(for Bajaj Allianz). Quoted premium was Rs 19,366(IDV was Rs 5,31,077):
Automobile Insurance Queries? Ask me-img_20170409_190838.jpg

Quote received from Bajaj Allianz, Mangalore (after literally fighting with them for getting online website renewal option for the policy). Quoted Premium was Rs 17,587(IDV was Rs 5,46,606):
Automobile Insurance Queries? Ask me-img_20170409_190740.jpg

In the both the above quotes, I did not have the option of editing the covers or options in the policy.

Quote received from Royal Sundaram for Rs 13,419 for an IDV of Rs 5,45,000 odd. I even got my Reverse Camera accessory worth Rs 13000 included in the policy. Quoted Premium was Rs 13,419.:
Automobile Insurance Queries? Ask me-img_20170409_190659.jpg

You get a greater degree of independence when you buy the policy directly from the website and you get a better deal as well. Just look at the difference in the quotes. The one quoted by Tata BSS on behalf of Bajaj Allianz was grossly overpriced!!

Last edited by skanchan95 : 9th April 2017 at 19:59.
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Old 10th April 2017, 15:18   #3779
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Default Re: Ford Figo : Official Review

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Originally Posted by bullrun87 View Post
I am facing the same issue. I am unable to renew from royal sundaram website as it was bought from the dealership. I called them up and they say that I will have to buy the policy from the dealer if i want to stick to royal sundaram. I guess I will give bajaj allianz a try then
As long as you buy insurance from any players who has a tie up with your dealer, you should get a cashless facility.

Now, if you are not able to buy one of the insurance from the site, please choose another one - they don't deserve a sale by arm twisting.
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Old 11th April 2017, 13:52   #3780
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I just had a weird experience with Bajaj Allianz. My 2015 Jetta was bought with insurance from VW-Bajaj Allianz. They had a special policy called Drive Assure Elite, which offered ultimate coverage including return-to-invoice. This policy is only valid for cars two years and newer, which means this year, the third year, I could no longer buy that specific policy.

They do have a slightly lower coverage policy called Drive Assure Economy, which is what I was planning on buying now.

Now, you should note that the Elite package I had of the past two years permitted two claims per year in the Elite category, and any subsequent claims for that year would fall under the regular "comprehensive" category (meaning not everything would be 100% covered).

I had made one claim the first year (hit an eagle on the highway and broke one of my bi-xenons, a claim for Rs. 60,000). I also had a claim the second year (a stone-chip on the windshield, necessitating a replacement of the windshield - could not be just repaired - expense unknown).

This year when I went to renew, Bajaj-Allianz refused to give me the Drive Assure Economy, they only let me buy the normal comprehensive policy. Reason given - I had made claims in the last two years!

Please note, comprehensive means no bumper-to-bumper, and no zero-dep, and no coverage for the engine-gearbox (which is super important in a DSG car).

To me, this seems unfair. I made one claim in each year, not the two permitted under the Elite category, and not more than that falling under the comprehensive category.

So, am I right in feeling that this is not fair behaviour on the part of Bajaj-Allianz? I cannot purchase the coverage I need simply because I actually used the coverage that I paid for?

Cheers

Last edited by tilt : 11th April 2017 at 13:54.
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