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Old 11th January 2010, 09:37   #796
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Originally Posted by sdp1975 View Post
I see ICICI lombard being severely criticized here, but a friend combined 3 dents on his car into a single one and got his claim without a single question being asked.

And on how service centres rip off insurance cos/customers here's an example :

My friend noticed an accent rear ended badly. 2 SAs ( one junior, the other his senior) were discussing the estimate. The junior fellow says 70K.

The senior says "Round it off to 1L" !
That's other way round story where in this service station guy's have a tie-up with the surveyor and they get paid extra which they pass it on the surveyor.

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Originally Posted by rouheet View Post
What true value guys are telling me that the policy was already endorsed / transferred. To get the NCB i have to cancel it first. To cancel this endorsement they are asking for 1410. Since while selling the old car i told them if i take the ncb and that requires the old policy to be cancelled i would pay for the new policy they are asking for 3500 for this new policy. Can you imagine even the existing policy on that old car was renewed on19th november 2009 for which i paid around 2500/-. Since i would be taking ncb the new cost is over 3500 is what they told me.

I am completely lost here, but yes i am not making any payments until i understand everything clearly. Thats what i have told them too.
Buddy you ask me 10 times the same thing and I will not mind you replying that 10 times but I would not like you to get lost anywhere and will not like at all to loose your money any any any time.

As I told you that NCB is non transferable even if they have transferred the insurance in someone else's name. Understand one thing you don't have to pay but the person who is transferring the car in his name he has to pay the insurance cost and not you. You have to pay nothing to get the NCB letter.

All the stories which they have told you is wrong. I think they are fooling you and they have taken the money from the buyer and now they need the money from you as well.

Can you talk to your insurer directly?

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Originally Posted by akas_chauhan View Post
As of now for right side of car with wind shield and dash board and roof panel they are charging 300,000 for car, labour charge extra 50K.

For a baleno, which costed me 7.5 lakh, 3.5 lakh repair cost without any engine work and only right side damage looks Maruti taking me rdie.

Do Insurance guys validate all parts details they are mentioning with the current cost or dealer can quote anythng whatever he feels like?
Insurance company will approve only the actual loss and nothing else let dealer make any statement. Before the actual work starts you need to make one thing clear that how much you will have to pay?

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Originally Posted by Raccoon View Post
Didn't get what you ment about the car washes. Do you mean car wash coupons which I'v heard some dealers give? Well, my MASS gave me coupons (last year) which can be redeemed against any bill... regular servicing or whatever else. But only 1 coupon at a time can be redeemed. And I service the car only once a year... so dunno what to do with the other coupon unless i have to take it for some repairs in between (v rare).

As about the washing job, seperately, I don't know what they charge. But its an automatic car wash, and they would have to invest a lot in the equipment, place etc... so no exactly right to say that the cost excluding water and shampoo is only profit.
Sirji you can't compare the capital expense and the direct expenses. What I am trying to tell you is actual expense behind the car wash is too less but by showing you the coupons and everything they fool us that they are giving the benefit of Rs. 500/- and every thing.

My thinking in life is very simple, nothing is free on the earth, you are paying for everything directly or indirectly.

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Originally Posted by saintsinner View Post
Rupeshbhai,

as you are aware of my case i would like to change my insurance company when it is due for renewal. The options i have are - United India Insurance, TATA AIG, IFFCO-TOKIO

what are your suggestions?
Tata and Iffco both are good option. In government companies again service is one issue.

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Originally Posted by rohan_iitr View Post
Hi Rupesh,

First of all, let me thank you for the selfless service you are providing on Team-BHP. Hats off to you !

The insurance for my i10 1.1 is due for renewal by the end of this month.

Ex-showroom price = Rs 3,59,286
Last year's IDV = Rs 3,41,322
Last year's premium = Rs 11,867
Last year's insurer = United India (provided by dealer at the time of purchase)

When I purchased this car last year, I was new to cars and insurance. But after 1 year of Team-BHP membership and help from experts like you, I am more conversed with the technicalities now. Hence, before renewing the insurance, I decided to do some research.

I have some doubts, please throw some light on these:

1. First year's IDV is taken as 95% of the ex-showroom price. What is the logic behind this ? Why not 100% ?

2. My dealer told me that Government insurance companies do not provide cashless service. Is this correct ?

3. I don't want to change my insurer unnecessarily, but I feel that lack of cashless service is a good enough reason for changing the insurer. What do you feel ?

4. I have got a renewal quote from United India (through the dealer). The premium would be Rs 8,098, IDV = Rs 3,05,400 (10% depriciation), 20% NCB and 20% discount. Is this a good quote, or can I get more discount/freebies ?

5. If I decide to move to some other (private) insurer, do I still get the NCB ? Do I need to get any no-claims letter from the previous insurer for claiming NCB ?

My dealer provides cashless service with several private insurance companies including ICICI, Reliance, HDFC, Cholamandalam, Tata AIG and Bajaj Allianz. I will ask for quotations from these companies and get back to you.

I totally agree with your views on ICICI and Reliance, I will keep away from these two.

Thanks in advance.

Rohan,
Bangalore
Firstly thank you for the kind words.

1. Normally this is the practice in the business but I can give you the exact logic after sometime.

2. Yes that is true to some extent. They do give cashless in Maruti tie-ups and some big dealers only.

3. Ofcourse you should have a company which will give you cash less at the time of claim.

4. Don't ask for freebies ask for more discount you should get 35% discount or more.

5. You will get NCB with the renewal notice itself. Which proves that you have not claimed anything from them.

Bajaj and Chola are the best option in the market. Study the Chola's 360 and Elite products which have some good add-on benefits.
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Old 11th January 2010, 10:23   #797
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Originally Posted by rjvora_2000 View Post
Sirji you need to take a copy of form 29 which you must had signed for the transfer of the car. Along with that you need to give a copy of invoice or any other buying proof.

With this document and a policy copy your policy will get transferred in your name.
thanks for you reply.


we have the form 29 but the thing is we have paid Wasan and Wasan in return have paid the allottee. So we have a tally receipt from Wasan and not the person who we have got the car from.

would that be ok?
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Old 11th January 2010, 10:25   #798
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Originally Posted by jasher26 View Post
thanks for you reply.


we have the form 29 but the thing is we have paid Wasan and Wasan in return have paid the allottee. So we have a tally receipt from Wasan and not the person who we have got the car from.

would that be ok?
Yes that is also ok to work for transfer of insurance.
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Old 11th January 2010, 10:38   #799
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Rupesh,
Need your expert opinion
Recently I sold my bike to someone and he transferred the name in RC book(within 3 days) and I have a photostat copy of the transferred RC book. But he has not transferred the insurance in his name after repeated reminders. As per the current insurer(Oriental insurance) in the event of owner changes (RC book update is the guideline) insurer need to be informed within 15 days otherwise no claims would be settled.
I think there is no liability on me in the event of claim ( Accident/Theft)
Kindly let me know your opinion
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Old 11th January 2010, 11:24   #800
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Originally Posted by aka_iitd View Post
Rupesh,
Need your expert opinion
Recently I sold my bike to someone and he transferred the name in RC book(within 3 days) and I have a photostat copy of the transferred RC book. But he has not transferred the insurance in his name after repeated reminders. As per the current insurer(Oriental insurance) in the event of owner changes (RC book update is the guideline) insurer need to be informed within 15 days otherwise no claims would be settled.
I think there is no liability on me in the event of claim ( Accident/Theft)
Kindly let me know your opinion
Once you sell the vehicle your liability is over. Once we have the delivery note and a payment proof that's it.

On his part he will not get paid if there is a claim tomoro.
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Old 12th January 2010, 00:55   #801
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Originally Posted by rjvora_2000 View Post
Sirji you can't compare the capital expense and the direct expenses. What I am trying to tell you is actual expense behind the car wash is too less but by showing you the coupons and everything they fool us that they are giving the benefit of Rs. 500/- and every thing.

My thinking in life is very simple, nothing is free on the earth, you are paying for everything directly or indirectly.
Of course! It definitely isn't "free" in the sense that they take a higher premium. What I tried to say is that it isn't a v bad deal either as at least my MASS lets you redeem one coupon at a time for anything including a paid service. But then you have the hassle of remembering to use them within the stipulated time and are tied to that MASS. So I guess they get the double benefit of insurance commission and also keeping you as a captive customer of their workshop.
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Old 12th January 2010, 01:18   #802
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I have been advised regarding a new car insurance product wherein you pay a higher premium in comparison to what you would normally pay but in case of a claim there are no deductions made and all claims are paid in full. This is for new cars only and offered by iffco tokio agent at the car dealership where I am trying to buy a new car.

Is this information correct ? i.e there will actually be zero deductions whether the claimed parts are made of rubber, plastic or even glass and if yes how much extra premium is to be paid?

Last edited by khoj : 12th January 2010 at 01:21.
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Old 12th January 2010, 08:52   #803
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Originally Posted by khoj View Post
I have been advised regarding a new car insurance product wherein you pay a higher premium in comparison to what you would normally pay but in case of a claim there are no deductions made and all claims are paid in full. This is for new cars only and offered by iffco tokio agent at the car dealership where I am trying to buy a new car.

Is this information correct ? i.e there will actually be zero deductions whether the claimed parts are made of rubber, plastic or even glass and if yes how much extra premium is to be paid?
This information is true, there are such product available in the market.

Premium calculation is too complicated for such product, but you can ask them that how much difference will be there in, a ordinary product and this special product and you will get the comparison, of the two.
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Old 12th January 2010, 12:47   #804
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Originally Posted by rjvora_2000 View Post
This information is true, there are such product available in the market.

Premium calculation is too complicated for such product, but you can ask them that how much difference will be there in, a ordinary product and this special product and you will get the comparison, of the two.
I asked and the difference is almost double. For a car with 9,90,000/- ex showroom value the normal insurance is offerd at 21500/- and the new product at 38,300/-

In your experience is it worth taking it?
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Old 12th January 2010, 15:54   #805
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I asked and the difference is almost double. For a car with 9,90,000/- ex showroom value the normal insurance is offerd at 21500/- and the new product at 38,300/-

In your experience is it worth taking it?
Can you give the details which are the thing's covered under insurance?
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Old 13th January 2010, 09:28   #806
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@khoj

Chola's 360 product will be cheaper then what you are saying it will be some were around 33000/- Full car cost is replaced if something goes wrong.
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Old 13th January 2010, 15:42   #807
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Hi ,I have a few queries regarding renewal of my current policy of my Ikon which experies on 29 jan.
Present company is New india assurance.
Current IDV of the vehicle is 4.98 lacs and the first premium was 14360.
Now an agent from New india assurance called and told me that we can renew the policy and he quoted a premium 0f 75xx . when asked about IDV he told it is 4.17 lacs now.Also he told that there is no discount on anti theft device or any thing as such. My vehicle is having NCB. The OTR price was 5.7 lacs and the IDV quoted is pretty much low if compared to OTR .
Any advice on this regard?I actually wanted to keep the IDV at around 4.75 lacs.
I contacted bajaj allianz and nobody responded from their side.

Last edited by bullboy : 13th January 2010 at 15:43.
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Old 13th January 2010, 15:59   #808
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Originally Posted by bullboy View Post
Hi ,I have a few queries regarding renewal of my current policy of my Ikon which experies on 29 jan.
Present company is New india assurance.
Current IDV of the vehicle is 4.98 lacs and the first premium was 14360.
Now an agent from New india assurance called and told me that we can renew the policy and he quoted a premium 0f 75xx . when asked about IDV he told it is 4.17 lacs now.Also he told that there is no discount on anti theft device or any thing as such. My vehicle is having NCB. The OTR price was 5.7 lacs and the IDV quoted is pretty much low if compared to OTR .
Any advice on this regard?I actually wanted to keep the IDV at around 4.75 lacs.
I contacted bajaj allianz and nobody responded from their side.
Your highest IDV should be 450K not more then that as this is just 10% less from the last year. I fail to understand the reason behind insurance company not calling to clients back. You can give a call to Bajaj again and ask for the quote on 450000 IDV.
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Old 13th January 2010, 16:58   #809
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rjvora, thanks a lot . Just a doubt is there any way to arrive at the first year IDV.or can the OTR minus premium can be kept as the IDV of the vehicle.
My car's invoice value was 521k without road tax and insurance .why this was not taken as the IDV for the first year?
also how do you rate new india assurance?

Last edited by bullboy : 13th January 2010 at 17:01.
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Old 13th January 2010, 18:20   #810
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Originally Posted by bullboy View Post
rjvora, thanks a lot . Just a doubt is there any way to arrive at the first year IDV.or can the OTR minus premium can be kept as the IDV of the vehicle.
My car's invoice value was 521k without road tax and insurance .why this was not taken as the IDV for the first year?
also how do you rate new india assurance?
Any government company is not the bad company till they give you service.

With a new policy it is always 95% of ex-showroom cost.
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