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Old 11th April 2017, 14:54   #3781
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Question Re: Maruti Insurance?

My 2009 old swift VDi is up for renewal by 15th. The National Insurance via Maruti Insurance is quoting me INR 82XX/- as premium and when i check on policybazaar am able to get quotes around INR 55XX - 62XX/- as annual premium. The Maruti insurance guys are saying ease of claim/no hassles/cashless transactions at their dealerships as their unique proposition.

Does these guys NOT honor insurance bought online? Are they just plain blackmailing us to go via them? They are easily 25% more than the online market rates. Am I missing anything here?

Please advise.
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Old 11th April 2017, 15:07   #3782
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Quote:
Originally Posted by JMaruru View Post
My 2009 old swift VDi is up for renewal by 15th. The National Insurance via Maruti Insurance is quoting me INR 82XX/- as premium and when i check on policybazaar am able to get quotes around INR 55XX - 62XX/- as annual premium. The Maruti insurance guys are saying ease of claim/no hassles/cashless transactions at their dealerships as their unique proposition.

Does these guys NOT honor insurance bought online? Are they just plain blackmailing us to go via them? They are easily 25% more than the online market rates. Am I missing anything here?

Please advise.
Buy it online, no need to worry on claims. The procedure will remain the same.
This is just arm twisting tactics used by all dealers as they get higher commissions on Insurance sales.

Last edited by speedmiester : 11th April 2017 at 15:08.
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Old 12th April 2017, 08:15   #3783
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Originally Posted by tilt View Post
Reason given - I had made claims in the last two years!

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?
You are already a high risk customer for BA due to claims in two successive years. Imagine you paying approx 20K for premium and claiming 60K in return is actually a loss for BA. Hence they would not offer you the said package. Did you try getting the zero dep add on cover separately? I don't think there is any specific add on cover for gearbox.

If BA is not offering you the said deal, try with those Insurance co with which your workshop has cashless tie ups.

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Originally Posted by JMaruru View Post
Does these guys NOT honor insurance bought online? Are they just plain blackmailing us to go via them? They are easily 25% more than the online market rates. Am I missing anything here?
Purely arm twisting tactics by workshop/dealer. Ask them to match the online premiums. If they don't, buy from outside. But ensure that the policy you buy online from comparator sites like policy bazaar match with the T&C of the policy of the Insurance cos on their official websites. Many a times the wordings of Policy bazaar offered insurance is different from the Insurance co's actual offering.
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Old 12th April 2017, 14:11   #3784
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Question Re: Automobile Insurance Queries? Ask me

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Originally Posted by speedmiester View Post
Buy it online, no need to worry on claims. The procedure will remain the same. This is just arm twisting tactics used by all dealers as they get higher commissions on Insurance sales.
Thank You!

Quote:
Originally Posted by ghodlur View Post
Purely arm twisting tactics by workshop/dealer. Ask them to match the online premiums. If they don't, buy from outside. But ensure that the policy you buy online from comparator sites like policy bazaar match with the T&C of the policy of the Insurance cos on their official websites. Many a times the wordings of Policy bazaar offered insurance is different from the Insurance co's actual offering.
So you mean to say, for policybazaar they have a difference policy than the one they offer on their official website. Why would they do so?

If so, I just have to shortlist insurers on policybazaar and buy it from their official website.
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Old 12th April 2017, 14:13   #3785
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Default Re: Automobile Insurance Queries? Ask me

How can I take a policy for a new car from policybazar? What are the documents that needs to be submitted? Please clarify.
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Old 13th April 2017, 10:09   #3786
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Originally Posted by JMaruru View Post
So you mean to say, for policybazaar they have a difference policy than the one they offer on their official website. Why would they do so?

If so, I just have to shortlist insurers on policybazaar and buy it from their official website.
Insurance cos do not have different policies for one on their website and one for Policy Bazaar. Policy bazaar in an attempt to sell policies often sell without the actual terms and conditions and this mostly applies to the add on covers.

It is best to use Policy Bazaar only for premium quotes and comparison, the shortlisted one can be bought online on the Insurance co's website. If the online price is way different from the ones quoted on Policy Bazaar then same to be discussed with both to under stand the huge disparity and who is the correct one.

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How can I take a policy for a new car from policybazar? What are the documents that needs to be submitted? Please clarify.
All you will need is your engine and chassis no when buying insurance for new car. If you have previous NCB, then NCB certificate would be required. You don't need any documents for new car insurance.
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Old 14th April 2017, 11:31   #3787
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Originally Posted by ghodlur View Post
You are already a high risk customer for BA due to claims in two successive years. Imagine you paying approx 20K for premium and claiming 60K in return is actually a loss for BA. Hence they would not offer you the said package. Did you try getting the zero dep add on cover separately? I don't think there is any specific add on cover for gearbox.

If BA is not offering you the said deal, try with those Insurance co with which your workshop has cashless tie ups.*SNIPPED FOR RELEVANCE*
Thank you for responding.

I paid almost a lakh as first year premium and almost 90K as second year premium, claims being 60K and unknown (for windshield). Certainly no loss for them. However, I do understand your point.

It just feels to me like they want me to buy insurance but never claim at all. Anyway...

I have one question - isn't there any concept of fault assignment in case of claims? I can understand if I am being penalised for a claim that arose due to my fault, but in both my claims the fault was not mine. The first claim - an eagle flew low across my car and got hit, in the second case it was a stone-chip. Not my carelessness or negligence or anything.

At least in North America, they have the concept of "no-fault_ where any claims made where fault was not assigned to me is not considered to be a claim for the purpose of no-claim-bonus. Here it seems to be that any claim irrespective of fault is penalised. That is not fair. But hey, I have always maintained since I was an adolescent that insurance is the biggest scam going on. Dad and I used to have huge fights about this - he was an insurance surveyor and loss-adjuster, and I have passed the exams too to qualify to be one.

There is separate coverage for engine/gearbox with other insurers and that's what I finally did - went from Bajaj-Allianz to Bharti-Axa. Still, the premium is around 68K. Basically the same policy as Bajaj refused to give me.

Problem is, VW has cashless tie-ups with only Bajaj-Allianz and Bharti-Axa. Well, let me elaborate: Other insurers too have cashless tie-ups with VW, but that's only limited to certain service centres in each town. The two that I mentioned have tie ups with any VW service centre in India.

Again, thanks for responding.

Cheers
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Old 15th April 2017, 10:00   #3788
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Quote:
Originally Posted by tilt View Post
I have one question - isn't there any concept of fault assignment in case of claims? I can understand if I am being penalised for a claim that arose due to my fault, but in both my claims the fault was not mine.
Unfortunately there is no such concept in India. Irrespective of the fault, its the car which gets damaged and is liable for claims.

So you are now an Insurance surveyor, good for the forum. You can now give more insights to the Insurance related queries.

I don't think any manufacturer will have national tie ups with two Insurance co, if that's the case then better. Check out with which Insurance co other than the two you mentioned have a cashless tie up with the workshop where you would normally service your car.
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Old 15th April 2017, 13:18   #3789
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Originally Posted by ghodlur View Post
*SNIP*
So you are now an Insurance surveyor, good for the forum. You can now give more insights to the Insurance related queries.*SNIP*
Oh no, I am not. I wrote the exams and qualified around thirty years ago, and never had any intention of pursuing it as a career (I only did it to be able to argue with my father without being ignorant of the industry and practices); so any "knowledge" I now have is either obsolete or completely incorrect.

Cheers

Last edited by tilt : 15th April 2017 at 13:20.
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Old 15th April 2017, 15:54   #3790
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Default Re: Automobile Insurance Queries? Ask me

I have got a question on zero depreciation insurance. We purchased a zero depreciation insurance that came as benefit along with the car. Essentially, the dealer is paying for insurance. When I checked the IDV value, it is quoted as lower than the Ex-showroom value by huge margin. The insurance cost is also lower than what was declared in the cost breakdown while booking. When I confronted the dealer, I was told that for zero dep insurance the IDV will always be lower than the ex-showroom price by 5 percent. Would like to understand if this is true.
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Old 15th April 2017, 19:16   #3791
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by tortoise View Post
I have got a question on zero depreciation insurance. We purchased a zero depreciation insurance that came as benefit along with the car. Essentially, the dealer is paying for insurance. When I checked the IDV value, it is quoted as lower than the Ex-showroom value by huge margin. The insurance cost is also lower than what was declared in the cost breakdown while booking. When I confronted the dealer, I was told that for zero dep insurance the IDV will always be lower than the ex-showroom price by 5 percent. Would like to understand if this is true.
It's not specific to Zero Dep. IDV is 95% of ex showroom price for comprehensive as well.
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Old 17th April 2017, 08:12   #3792
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Originally Posted by tortoise View Post
I have got a question on zero depreciation insurance. We purchased a zero depreciation insurance that came as benefit along with the car. Essentially, the dealer is paying for insurance. When I checked the IDV value, it is quoted as lower than the Ex-showroom value by huge margin. The insurance cost is also lower than what was declared in the cost breakdown while booking. When I confronted the dealer, I was told that for zero dep insurance the IDV will always be lower than the ex-showroom price by 5 percent. Would like to understand if this is true.
The dealer is fooling you. IDV is no way related to the zero depreciation, but zero depreciation add on cover cost is dependent on the IDV. The dealer is right in saying that the IDV for a new car would be 5% less than the ex showroom rate but again not because of zero dep.
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Old 17th April 2017, 13:53   #3793
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Default Re: Maruti Insurance?

Quote:
Originally Posted by JMaruru View Post
My 2009 old swift VDi is up for renewal by 15th. The National Insurance via Maruti Insurance is quoting me INR 82XX/- as premium and when i check on policybazaar am able to get quotes around INR 55XX - 62XX/- as annual premium. The Maruti insurance guys are saying ease of claim/no hassles/cashless transactions at their dealerships as their unique proposition.

Does these guys NOT honor insurance bought online? Are they just plain blackmailing us to go via them? They are easily 25% more than the online market rates. Am I missing anything here?

Please advise.
I am in the same delimma now. I have received a quote from Maruti Insurance for my CIAZ which is higher than my previous premium with NCB. The difference is 4K from a competitive quote. When I checked with the competitor he said the dealer does not have a tie up with the insurance company and hence he cannot avail cashless in that dealership.
It looks like a nexus between the insurance companies and the dealership. End of the day its the users who lose :(
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Old 17th April 2017, 15:01   #3794
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Unhappy Re: Maruti Insurance?

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Originally Posted by vinukm View Post
I am in the same delimma now. I have received a quote from Maruti Insurance for my CIAZ which is higher than my previous premium with NCB. The difference is 4K from a competitive quote. When I checked with the competitor he said the dealer does not have a tie up with the insurance company and hence he cannot avail cashless in that dealership.
It looks like a nexus between the insurance companies and the dealership. End of the day its the users who lose :(
This time, I buckled to the pressure from the dealer and have gone with him. For next renewal shall prepare ahead, and will go with a competitive service.

This is a day time loot from Maruti and their dealers!
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Old 17th April 2017, 15:35   #3795
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Default Re: Automobile Insurance Queries? Ask me

I had asked my dealer to provide me with the Star Protect Platinum policy of Mercedes-Benz, which in a nutshell covers this:

Automobile Insurance Queries? Ask me-screen-shot-20170413-11.22.08.png

I received this today and i was curious to understand whether what was promised has been delivered or not:

Automobile Insurance Queries? Ask me-mb-insurance.jpg

Could some expert kindly comment?
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