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Old 10th December 2009, 16:30   #616
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Originally Posted by esteem_lover View Post
prerogative
I forgot to tell you thank you for this word as I took a Dictionary to understand this word.

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Originally Posted by esteem_lover View Post
Thank you buddy. Was very useful.
If you need any help in any claim or anything related to Motor insurance please feel free to catch hold of this thread any time as I love to increase the No. of post's in front of my name.
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Old 10th December 2009, 21:44   #617
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Check out the provisions of the Mv Act on insurance transfer :

Laws - Motor Vehicles Act, 1988 Section 157
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Old 11th December 2009, 08:38   #618
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Check out the provisions of the Mv Act on insurance transfer :

Laws - Motor Vehicles Act, 1988 Section 157
Wow!!! What does that mean???

This one is very difficult to understand for people like me who are Illiterate. (legally) I can explain this much easily what are the steps involved in this procurer.
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Old 11th December 2009, 11:00   #619
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I booked a Honda City 1.5 V MT recently. The ex-showroom price of the car is Rs 8,99,000.00. The insurance quote from Honda dealer(Pride Honda, Hyderabad) was Rs 25,872.00.

I got a quotation on my own from ICICI Lombard(Rs 18,645.00), Bajaj Allianz(Rs 20,885.00) and Iffko-Tokio(Rs 20350.00).

Why is there such a price difference between what the dealer quoted and the other quotations obtained outside?

At Bajaj Allianz, the first quotation given was for Rs 23,250.00(approx.) and I was told by the agent that I am being given 25% discount, when I said I have a quotation for Rs 18,645.00 from ICICI Lombard, he gave me another quotation which was for Rs 20,885.00 and said I am now being given 40% discount. Is it possible to get any further discounts? How is this calculated?
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Old 11th December 2009, 11:01   #620
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I think what it means is that when you transfer a vehicle to someone the insurance automatically gets transferred to that person.

And it's the responsibility of that person to get the insurance papers changed in his name in 14 days.

rj you can add to this.
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Old 11th December 2009, 11:41   #621
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Originally Posted by kalyan_hyd View Post
I booked a Honda City 1.5 V MT recently. The ex-showroom price of the car is Rs 8,99,000.00. The insurance quote from Honda dealer(Pride Honda, Hyderabad) was Rs 25,872.00.

I got a quotation on my own from ICICI Lombard(Rs 18,645.00), Bajaj Allianz(Rs 20,885.00) and Iffko-Tokio(Rs 20350.00).

Why is there such a price difference between what the dealer quoted and the other quotations obtained outside?

At Bajaj Allianz, the first quotation given was for Rs 23,250.00(approx.) and I was told by the agent that I am being given 25% discount, when I said I have a quotation for Rs 18,645.00 from ICICI Lombard, he gave me another quotation which was for Rs 20,885.00 and said I am now being given 40% discount. Is it possible to get any further discounts? How is this calculated?
Buddy take care of the IDV that should be less 5% from the ex-showroom cost of the car.

Discount is the only major reason of difference in premium.
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Old 11th December 2009, 11:53   #622
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Hi Rupesh,

I am planning to buy a used car sep 05 model with no claim history, i guess the NCB is 45%. Should I ask for a price discount and only TP insurance and let the owner cancel and encash the comprehensive insurance and buy a seperate insurance cover myself as it's just 3 months since last insurance started and I am likely to lose next years NCB too as it would be less than an year when next insurance becomes due.

Also if the owner didn't get any discount (up to 30-40% as mentioned several times here) before deducting NCB in his policy would not taking a comprehensive cover from him and getting a discount make more sense? In that case can I negotiate a discount on premium (not a NCB) from insurance company for a used car model while taking a new policy. The deal will be around Rs 2.5 lacs, what could be best rates for insurance without any NCB for that amount.
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Old 11th December 2009, 12:03   #623
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Hi Rupesh,

I am planning to buy a used car sep 05 model with no claim history, i guess the NCB is 45%. Should I ask for a price discount and only TP insurance and let the owner cancel and encash the comprehensive insurance and buy a seperate insurance cover myself as it's just 3 months since last insurance started and I am likely to lose next years NCB too as it would be less than an year when next insurance becomes due.

Also if the owner didn't get any discount (up to 30-40% as mentioned several times here) before deducting NCB in his policy would not taking a comprehensive cover from him and getting a discount make more sense? In that case can I negotiate a discount on premium (not a NCB) from insurance company for a used car model while taking a new policy. The deal will be around Rs 2.5 lacs, what could be best rates for insurance without any NCB for that amount.
Easy option for you is for going for new insurance policy. Remember one thing NCB is something which is owned by the seller and that can not be transfer. Please go for 3 different insurance quotes and you will get the approx idea.
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Old 11th December 2009, 14:21   #624
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Wow, this is one great thread to resolve our insurance queries..! Great job rjvora!

I own a Dec-2007 mfg. Alto LXI and having a National Insurance (through Maruti) policy on which there is no claim till date. I have also added cover for electrical accesories (Pio HU & Speakers) worth Rs.14,250/-

The policy would be due for renewal in Jan-09, I have got the following quotes,

Current Policy:
National Insurance
IDV: 2,44,343
Total Premium: 6,089
Discounts: Got Petrol vouchers worth Rs.1,000 from the dealer.

Quote Received:
TATA AIG (Quote Received through their Call Center)
IDV: 2,08,800
Total Premium: 5,755 (0% Depreciation)
Total Premium: 4,834 (With Depreciation)

National Insurance (Online Quote)
IDV: 2,13,331
Total Premium: 5,347
(I am sure I will get some discount like last renewal once I approach the dealer)


What do you suggest? Which option is the best?

I am tempted to go for Tata AIG just for the 0% depreciation scheme.
But not too sure whether it actually works. Do they really make the claim cashless? And how complex is their calim process?
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Old 12th December 2009, 08:23   #625
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Originally Posted by cyclops View Post
Wow, this is one great thread to resolve our insurance queries..! Great job rjvora!

I own a Dec-2007 mfg. Alto LXI and having a National Insurance (through Maruti) policy on which there is no claim till date. I have also added cover for electrical accesories (Pio HU & Speakers) worth Rs.14,250/-

The policy would be due for renewal in Jan-09, I have got the following quotes,

Current Policy:
National Insurance
IDV: 2,44,343
Total Premium: 6,089
Discounts: Got Petrol vouchers worth Rs.1,000 from the dealer.

Quote Received:
TATA AIG (Quote Received through their Call Center)
IDV: 2,08,800
Total Premium: 5,755 (0% Depreciation)
Total Premium: 4,834 (With Depreciation)

National Insurance (Online Quote)
IDV: 2,13,331
Total Premium: 5,347
(I am sure I will get some discount like last renewal once I approach the dealer)


What do you suggest? Which option is the best?

I am tempted to go for Tata AIG just for the 0% depreciation scheme.
But not too sure whether it actually works. Do they really make the claim cashless? And how complex is their calim process?
Increase the IDV and go for 0% dep. car insurance, It look's good to me.
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Old 12th December 2009, 09:36   #626
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Cholamandalam's website dose not have the claim form.
I had put a complaint on their web site and they have replied me that by next week there new website is getting launched and we will have lot of good things on the same.


Last edited by rjvora_2000 : 12th December 2009 at 09:40.
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Old 12th December 2009, 15:25   #627
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Hi rjvora,
I bought a car in sept 2009.Car got a dent on left front door.There is no scratch.Don't know how it happened.Dealer was saying around 5k.Since it was almost not visible i left that.Now i got a scratch on front bumper while i was removing car from parking.
So can i claim for insurance for both of these?
How do i explain this? as i don't know how the dent happened
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Old 12th December 2009, 23:56   #628
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Hi,

I am buying a new i10. Hyundai is offering the insurance from their side for 14,651 for a showroom price of 396,219. As part of year end offer, they are giving 1st year insurance free.
Outside insurance is 9,000 to 10,000 with Bajaj Allianz, ICICI Lombard, etc
If I dont take the insurance from dealer, they will give more discount of 10,000 odd - so it will come to same thing while using that 10,000 to buy insurance outside.

I am not sure what to do in this scenario - considering the next years. In 2nd year, the 14K will reduce by 20% or so v/s outside 10K which will reduce by 20%.
At the outset, taking insurance outside seems beneficial - but I am unable to understand the math behind it.
Can you guys please advise?

Thanks,
Sam
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Old 13th December 2009, 23:05   #629
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how much IDV an be increased legally ???
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Old 14th December 2009, 09:26   #630
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Originally Posted by Reddy@Hyd View Post
Hi rjvora,
I bought a car in sept 2009.Car got a dent on left front door.There is no scratch.Don't know how it happened.Dealer was saying around 5k.Since it was almost not visible i left that.Now i got a scratch on front bumper while i was removing car from parking.
So can i claim for insurance for both of these?
No you can't legally speaking but there are so many people who are claiming this kind of thing's and there claim's were paid in the past.

Remember your claim for both the side is not payable if you speak the truth.

Quote:
Originally Posted by Reddy@Hyd View Post
How do i explain this? as i don't know how the dent happened
I don't think you need to do anything hear as you will give your car to service station and those guy's are expert in handling such things.

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Originally Posted by samking View Post
Hi,

I am buying a new i10. Hyundai is offering the insurance from their side for 14,651 for a showroom price of 396,219. As part of year end offer, they are giving 1st year insurance free.
Outside insurance is 9,000 to 10,000 with Bajaj Allianz, ICICI Lombard, etc
If I dont take the insurance from dealer, they will give more discount of 10,000 odd - so it will come to same thing while using that 10,000 to buy insurance outside.

I am not sure what to do in this scenario - considering the next years. In 2nd year, the 14K will reduce by 20% or so v/s outside 10K which will reduce by 20%.
At the outset, taking insurance outside seems beneficial - but I am unable to understand the math behind it.
Can you guys please advise?

Thanks,
Sam
Dear Sam,

As I can see that in current year it doesn't make much difference to you but in next year both the policy will have same premium as in next year you can bargain the premium with the companies. Dealer is not currently offering any discount in premium that's a reason of high premium and nothing else.

Regards.

Quote:
Originally Posted by NOTORIOUS View Post
how much IDV an be increased legally ???
Increase or Decease ???
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