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Old 6th January 2010, 17:51   #766
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Originally Posted by Fordmanchau View Post
Sirji, I am neither wasting your time, nor I am wasting my time. I need a suggestion and if you have the answer then please give or else ignore the query.
If you notice, other than mentioning the ICICI quotes, I have also asked you whether you can suggest any insurer which are good , depending on your experience.You are only mentioning that ICICI is no good but not advising which insurer is better??? I have put in my query here because I want to move away from ICICI Lombard with whom my car is insured at present.
Dear Friend Tata, Bajaj and Chola is one of the good companies and Bajaj is the best company in India.

I just wanted to tell you that don't compare your quotes with Icici or Reliance. People do make mistake of comparing this companies and the at the time of claim they regret there dision if choosing the wrong insurance companies.

Happy Insured Driving.
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Old 6th January 2010, 19:49   #767
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I will be transferring my Dad's Car in my name soon. Since the insurances is also in my Dad's name, what is the procedure and the cost involved to get the insurance also in my name.

Or is it that the car is insured so the name doesnt matter???

Thanks for the help!!

regards
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Old 6th January 2010, 20:55   #768
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Originally Posted by deky View Post
I will be transferring my Dad's Car in my name soon. Since the insurances is also in my Dad's name, what is the procedure and the cost involved to get the insurance also in my name.

Or is it that the car is insured so the name doesnt matter???
After the name change in the RC book, go to your insurer( with a copy of the new RC) and get the insurance changed to your dad's name. They will charge some transfer fees.

Insurance may be denied if the name transfer is not done - the MV Act mandates that insurance change should be done within 14 days of transfer of ownership.

Also, take a NCB certificate from your insurer so that you can use it later ( for a new car purchase, or if you have an existing car transfer the NCB to it when renewal comes up).
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Old 7th January 2010, 08:45   #769
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If you do not transfer the car insurance in your name the claim is not payable. Transfer of insurance is must. Your dad can't insure your car.
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Old 7th January 2010, 11:36   #770
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Originally Posted by rjvora_2000 View Post
Dear Friend Tata, Bajaj and Chola is one of the good companies and Bajaj is the best company in India.
Happy Insured Driving.
Thank you rjvora,

I have already got the TATA-AIG quote, will get the BA and CHOLAMANDALAM quote too.
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Old 7th January 2010, 15:55   #771
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Thank you rjvora,

I have already got the TATA-AIG quote, will get the BA and CHOLAMANDALAM quote too.
Check for Chola's Elite plan which has a depreciation cover. Good plan.
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Old 7th January 2010, 17:40   #772
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It seems increasing IDV from previous year's value is not that simple.
My friend is trying to do that but with less success.
He inadvertently ended up with less IDV policy when he concentrated on the discount in premium. Now he realized he missed the IDV in the process.
The agent blindly rejected that atleast some percentage has to be reduced from previous IDV.
I have asked him to push the agent further to increase the IDV and also asked him to check with other agents as well.
Anyone increased your IDV or any comments on this?
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Old 7th January 2010, 17:45   #773
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Originally Posted by iamswift View Post
It seems increasing IDV from previous year's value is not that simple.
My friend is trying to do that but with less success.
He inadvertently ended up with less IDV policy when he concentrated on the discount in premium. Now he realized he missed the IDV in the process.
The agent blindly rejected that atleast some percentage has to be reduced from previous IDV.
I have asked him to push the agent further to increase the IDV and also asked him to check with other agents as well.
Anyone increased your IDV or any comments on this?
Any particular reason for increasing the IDV this year?
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Old 7th January 2010, 19:10   #774
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Quote:
Originally Posted by iamswift View Post
It seems increasing IDV from previous year's value is not that simple.
My friend is trying to do that but with less success.
He inadvertently ended up with less IDV policy when he concentrated on the discount in premium. Now he realized he missed the IDV in the process.
The agent blindly rejected that atleast some percentage has to be reduced from previous IDV.
I have asked him to push the agent further to increase the IDV and also asked him to check with other agents as well.
Anyone increased your IDV or any comments on this?
Yes, I insured with Bajaj this time, for a higher IDV than last year. My observation has been that most pvt. insurers will let you change the IDV upto a certain percentage (higher or lower). PSUs don't seem to be inclined to it at all. Same with Maruti-Royal Sundaram - the MASS told me they can't alter either the IDV (always less than the previous year) or premium by even a Rupee.

In your case, which company's agent refused to increase the IDV? Must be a PSU. Just find another company and/or agent.
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Old 7th January 2010, 19:12   #775
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Originally Posted by Raccoon View Post
Yes, I insured with Bajaj this time, for a higher IDV than last year. My observation has been that most pvt. insurers will let you change the IDV upto a certain percentage (higher or lower). PSUs don't seem to be inclined to it at all. Same with Maruti-Royal Sundaram - the MASS told me they can't alter either the IDV (always less than the previous year) or premium by even a Rupee.
Incorrect.
I renewed my Wagon R for the same IDV as last year.


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Originally Posted by bblost View Post
My wagon R insurance was renewed today at the same IDV as last year.
The agent at the maruti insurance office was quite clear that depreciation need not be considered.
The 2004 Wagon R was insured at 205000 in 2008.
This year again its insured at the same amount.

Because of my 10% etc NCB this year the premium is a little lesser than what i paid last year.

I actually insisted that if they have no issues I prefer the higher IDV.

Was my above action correct.
Should I have accounted for the depreciation and reduced the IDV to 185000.

Also took a 1 Lakh PA cover for 4 passengers at an extra 200.

Now I have PA cover from my company insurance. In the event of an accident, who will pay.
Does it mean that both will share the expenses and hence give me a bigger cover.

Last edited by bblost : 7th January 2010 at 19:14.
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Old 7th January 2010, 20:08   #776
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I've one question.
Basically it's like this.

My car will be 3 years old in Feb 2009. HOw much do you think i should pay from pocket. I'll get my car within 2-3 days. Need to know whether insurance company(ICICI Lombard) taking me ride or not.

TOTAL 153,368.51 LABOR TOTAL 48,415.00
VAT @12.5 19171.06375
SERVICE TAX @10% 4841.5
Edu. Cess on Service Tax @ 3% 145.245
SUB TOTAL 172,539.57 53,401.75
Net Estimate Amount 225,941.32
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Old 7th January 2010, 21:19   #777
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Originally Posted by bblost View Post
Incorrect.
I renewed my Wagon R for the same IDV as last year.
Well, as I mentioned, that is what I was told by the MASS insurance representative. Anyway, which company Maruti insurance are you talking about. Could be other companies are allowing it. And how old is your car?
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Old 8th January 2010, 08:38   #778
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Originally Posted by Raccoon View Post
Yes, I insured with Bajaj this time, for a higher IDV than last year. My observation has been that most pvt. insurers will let you change the IDV upto a certain percentage (higher or lower). PSUs don't seem to be inclined to it at all. Same with Maruti-Royal Sundaram - the MASS told me they can't alter either the IDV (always less than the previous year) or premium by even a Rupee.

In your case, which company's agent refused to increase the IDV? Must be a PSU. Just find another company and/or agent.
Quote:
Originally Posted by bblost View Post
Incorrect.
I renewed my Wagon R for the same IDV as last year.
Quote:
Originally Posted by Raccoon View Post
Well, as I mentioned, that is what I was told by the MASS insurance representative. Anyway, which company Maruti insurance are you talking about. Could be other companies are allowing it. And how old is your car?
Guy's let it be any company they have to increase the IDV if client need's it. Motor insurance still work as a tariff business.

Quote:
Originally Posted by akas_chauhan View Post
I've one question.
Basically it's like this.

My car will be 3 years old in Feb 2009. HOw much do you think i should pay from pocket. I'll get my car within 2-3 days. Need to know whether insurance company(ICICI Lombard) taking me ride or not.

TOTAL 153,368.51 LABOR TOTAL 48,415.00
VAT @12.5 19171.06375
SERVICE TAX @10% 4841.5
Edu. Cess on Service Tax @ 3% 145.245
SUB TOTAL 172,539.57 53,401.75
Net Estimate Amount 225,941.32
I saw the excel sheet how much are you making payment I did not got the amount is it Rs. 53,401.75 ?

Please change the Insurer on next renewal. Any other then Icici and Reliance are good.
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Old 8th January 2010, 13:48   #779
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Originally Posted by rjvora_2000 View Post
Any particular reason for increasing the IDV this year?
Last year to reduce the premium, he completely missed out the IDV part. Infact he never knew the IDV concept till I explained.
After new knowledge, he needs to get the proper value of IDV.

Quote:
Originally Posted by Raccoon View Post
Yes, I insured with Bajaj this time, for a higher IDV than last year.
Good that Bajaj allows increase in IDV. Any idea what the percentage of increase in IDV they allow?

Quote:
Originally Posted by Raccoon View Post
In your case, which company's agent refused to increase the IDV? Must be a PSU. Just find another company and/or agent.
He tried with Reliance. The same agent is also doing for Bajaj as well. I strongly advised to avoid Reliance and go for Bajaj.
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Old 8th January 2010, 14:19   #780
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Originally Posted by Raccoon View Post
Well, as I mentioned, that is what I was told by the MASS insurance representative. Anyway, which company Maruti insurance are you talking about. Could be other companies are allowing it. And how old is your car?
Agree with Raccoon on this. About a month back when I was trying to renew insurance on my one year old Dzire, Maruti (internally insured with New India) Insurance said they cannot change the IDV or the premium. They were more than happy to provide some additional service coupons but were not ready to decrease premium. Also they flatly declined increasing the IDV. They said it is all in the Maruti system and cant be altered.
I didnt fight much and finally moved to Bajaj Allianz as their rates were very tempting compared to Maruti.
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