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Old 6th November 2017, 12:59   #3946
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Originally Posted by Saanil View Post
Can I buy the new insurance online today itself? I was thinking of buying a policy online today itself. I am assuming after buying it, I would get the insurance policy over email in a day or so? and I can then submit this policy to the dealer?

Will the RTO accept to change the car ownership with an insurance policy which is set to expire in a few days? Apologies for asking such basic questions.
Yes, you can buy Insurance today itself and if bought on the Insurer's website you should get the policy (soft copy) instantly. The hard copy will follow within few days. The soft copy print out should be sufficient for submission to RTO.

RTO does not bother to check if the policy is expiring in next fortnight or so. If you submit the policy today itself along with other documents for ownership change, they will still accept it. All RTO needs is the required list of documents to be submitted for ownership change.

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Originally Posted by hserus View Post
RC change will take max three or four days. Till then a receipt that paperwork transfer has been given to the RTO should be enough to submit to the insurer.
Agreed, the RTO provided receipt is sufficient to initiate the process but not finalize it. Insurance co can begin the ownership change process but final Insurance policy with new owner will be provided only after the changed RC is submitted.

I am yet to hear any RTO which is that super efficient which can issue RC change in 3-4 days. Generally it takes a min of 15 days for the process to complete. Unless you have an insider or a well connected agent who can get the process done in 3-4 days. In either case RC will be sent through Indian Post which as we all know works at snail's pace.
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Old 6th November 2017, 13:04   #3947
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Originally Posted by ghodlur View Post
I am yet to hear any RTO which is that super efficient which can issue RC change in 3-4 days. Generally it takes a min of 15 days for the process to complete. Unless you have an insider or a well connected agent who can get the process done in 3-4 days. In either case RC will be sent through Indian Post which as we all know works at snail's pace.
Come to Chennai RC endorsement of transfer of ownership within the same city takes a maximum of 3..4 working days. Even faster if done at the same RTO (eg if you buy a used car from someone in the same area you live in).

All that gets done is they will paste a sticker with the endorsement details on your old RC.

Last two used cars I got (used i10 for my wife, used Fiesta for me), the TO took that much time is all. All in the TN07 RTO (Thiruvanmiyur, Chennai). Both the cars were from other RTOs in Chennai.

If you use any agent at all, they will hand the RC back to the agent and you get it faster.

Last edited by hserus : 6th November 2017 at 13:07.
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Old 17th November 2017, 20:30   #3948
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Default Re: Automobile Insurance Queries? Ask me

Got my new car, two weeks back.
Got small dents and scratches in parking lot today.

Attached pics, will insurance cover it ?.

It's a zero dep insurance from Bajaj Allianz.
Should I claim it. ?

I'm yet to get the RC.
Attached Thumbnails
Automobile Insurance Queries? Ask me-psx_20171117_202654.jpg  

Automobile Insurance Queries? Ask me-psx_20171117_202633.jpg  

Automobile Insurance Queries? Ask me-psx_20171117_202600.jpg  

Automobile Insurance Queries? Ask me-psx_20171117_201947.jpg  

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Old 18th November 2017, 01:36   #3949
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by AtticusFinch View Post
It's a zero dep insurance from Bajaj Allianz.
Should I claim it. ?

I'm yet to get the RC.
Hi AtticusFinch,

This would depend on whether you have no claims bonus from your previous vehicle. If you are not claiming NCB then you should get this fixed and claim insurance.

However you can use rubbing compound and see how much paint is actually lost. If its minor scratch underneath and does not bother you then you should let it be.

Regards.
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Old 18th November 2017, 06:16   #3950
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Default Re: Automobile Insurance Queries? Ask me

I have a doubt that bugs me every time i am about to renew insurance.

My Linea Classic Plus' insurance is due for renewal in a couple of days. It's entering second year of ownership since purchased new. Now, i have a zero dep policy and am going in for a zero dep this year as well. No claims last year. Touchwood.

I got different quotes with different amounts with different IDVs. As you try to increase the IDV the premium also increases. But, since i have a zero dep policy how does the IDV matter?

Scenario 1:
Say, a biker crashes into my rear door and have to get it done under insurance. Whatever the IDV i'll get covered fully since its's zero dep. Is that right? In this scenario higher IDV or lower IDV - how does it matter?

Scenario 2:
The call centre guy told me i was right but in case of total loss you get the IDV amount. I don't understand this since i paid additional premium for zero dep which means zero depreciation on the cost of purchase (or invoice value) . So, should i not be getting full invoice value? Else, what was the point of paying the premium for zero dep if my vehicle was anyway depreciating to lower IDV s every year?

Look forward to inputs.

Last edited by bharatbits : 18th November 2017 at 06:19.
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Old 18th November 2017, 08:44   #3951
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Quote:
Originally Posted by antardaksh View Post
Hi AtticusFinch,

This would depend on whether you have no claims bonus from your previous vehicle. If you are not claiming NCB then you should get this fixed and claim insurance.

However you can use rubbing compound and see how much paint is actually lost. If its minor scratch underneath and does not bother you then you should let it be.

Regards.
Thanks for your comment.

This is my first vehicle, haven't taken insurance for a vehicle before.

For the rear scratch, there is some dent in the body as well.The body has moved in slightly, so over a period of it should become lose and will make shattering noise. since it's a part close to regular movement, I think it might become a problem later.


1. Will they honor the claim and what will be covered by them, will they cover replacing the body parts as well ?
2. Will I not having a RC yet, have any impact on the claim.
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Old 19th November 2017, 10:55   #3952
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by bharatbits View Post
I have a doubt that bugs me every time i am about to renew insurance.

My Linea Classic Plus' insurance is due for renewal in a couple of days. It's entering second year of ownership since purchased new. Now, i have a zero dep policy and am going in for a zero dep this year as well. No claims last year. Touchwood.

I got different quotes with different amounts with different IDVs. As you try to increase the IDV the premium also increases. But, since i have a zero dep policy how does the IDV matter?

Scenario 1:
Say, a biker crashes into my rear door and have to get it done under insurance. Whatever the IDV i'll get covered fully since its's zero dep. Is that right? In this scenario higher IDV or lower IDV - how does it matter?

Scenario 2:
The call centre guy told me i was right but in case of total loss you get the IDV amount. I don't understand this since i paid additional premium for zero dep which means zero depreciation on the cost of purchase (or invoice value) . So, should i not be getting full invoice value? Else, what was the point of paying the premium for zero dep if my vehicle was anyway depreciating to lower IDV s every year?

Look forward to inputs.
A zero dep policy covers only the depreciation charged on metal, rubber, fibre etc parts of the vehicle and not the depreciation in the invoice value of the vehicle. There is a separate add on cover typically known as Return to Invoice (RTI) cover which is usually offered by different insurance companies typically upto two years of vehicle age.

The IDV mentioned on your policy is the maximum liability of any insurance company payable to the insured in the event of a total loss or theft of the car unless you haven't opted for the RTI cover in which case it will be the invoice value of the car. So, whatever may be your IDV, you will anyways get the insurance claims of damages caused to the vehicle without any depreciation charged on the parts mentioned but if its a total loss then its a different ballgame altogether.
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Old 19th November 2017, 13:15   #3953
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Quote:
Originally Posted by bharatbits View Post
I got different quotes with different amounts with different IDVs. As you try to increase the IDV the premium also increases. But, since i have a zero dep policy how does the IDV matter?

Scenario 1:
Say, a biker crashes into my rear door and have to get it done under insurance. Whatever the IDV i'll get covered fully since its's zero dep. Is that right? In this scenario higher IDV or lower IDV - how does it matter?

Scenario 2:
I don't understand this since i paid additional premium for zero dep which means zero depreciation on the cost of purchase (or invoice value) . So, should i not be getting full invoice value? Else, what was the point of paying the premium for zero dep if my vehicle was anyway depreciating to lower IDV s every year?
I guess you got the basics wrong. IDV is the agreed value of the Insurance of the car and not on the cost of the car. You need to calculate the correct IDV for the car based on which you will need to get the premium quotes. No point in over insuring or under insuring the car by changing the IDV.

Zero depreciation is an add on cost which is offered by the Insurance co which will cover the basic components. Please note consumables cost will be charged separately during claim even if you have zero dep add on.

Quote:
Originally Posted by AtticusFinch View Post
1. Will they honor the claim and what will be covered by them, will they cover replacing the body parts as well ?
2. Will I not having a RC yet, have any impact on the claim.
1. Will depend on the claim raised.
2. No impact. There is already an Insurance taken on the car and it will be honoured.
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Old 20th November 2017, 00:33   #3954
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Default Re: Automobile Insurance Queries? Ask me

My motorcycle's insurance has lapsed this September. The RC is in my name, however the insurance was in the previous owner's name. I was going through online portals for a new policy and I have a few doubts:

- The only detail they want about the motorcycle is the registration number! Is that enough for buying a new policy? Don't they need the RC copy or anything?
- The IDV is coming as 20,235/- for my 2009 Pulsar. That is higher than what I paid for the bike. The comprehensive insurance quote is 1,201/-. Is there a way to reduce the IDV and thereby the quote?
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Old 20th November 2017, 08:01   #3955
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Originally Posted by Geo_Ipe View Post
- The only detail they want about the motorcycle is the registration number! Is that enough for buying a new policy? Don't they need the RC copy or anything?
- The IDV is coming as 20,235/- for my 2009 Pulsar. That is higher than what I paid for the bike. The comprehensive insurance quote is 1,201/-. Is there a way to reduce the IDV and thereby the quote?
If you are buying a new policy, then only registration details are sufficient.

If the IDV quoted is by the Insurance co based on the age details submitted by you, then why worry. If you can recall the last year's IDV, then caclulate the new IDV less the depreciation (by age of the bike) and get the quotes online.
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Old 20th November 2017, 13:07   #3956
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Quote:
Originally Posted by AtticusFinch View Post
Got my new car, two weeks back.
Got small dents and scratches in parking lot today.

Attached pics, will insurance cover it ?.

It's a zero dep insurance from Bajaj Allianz.
Should I claim it. ?

I'm yet to get the RC.

Took the Car to the Nexa service center, they quoted the repair costs as 15k.
Checked with my RM at Nexa, he advised to go for Insurance claim.
Will it have any effect on my future claims (if any) ?
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Old 20th November 2017, 14:05   #3957
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Quote:
Originally Posted by AtticusFinch View Post
Took the Car to the Nexa service center, they quoted the repair costs as 15k.
Checked with my RM at Nexa, he advised to go for Insurance claim.
Will it have any effect on my future claims (if any) ?
No effect on any claims in this year's policy period although there will be limit on the no of claims accepted under zero dep add on.

In any case your NCB for the next year will be zero. As suggested earlier by BHPian, you could get the scratches checked if can be removed with polishing.
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Old 20th November 2017, 14:38   #3958
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Originally Posted by ghodlur View Post
No effect on any claims in this year's policy period although there will be limit on the no of claims accepted under zero dep add on.

In any case your NCB for the next year will be zero. As suggested earlier by BHPian, you could get the scratches checked if can be removed with polishing.
Ok, Thanks.
Its just not scratches, there are some dents as well. Needs some repair and paintjob.
So getting the claim processed.
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