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Old 31st March 2010, 18:14   #1051
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Default NCB transfer for Company Leased vehicles when ownership is transferred to individuals

I have verified with Maruti Insurance that anyone can get the NCB for a company registered car transferred to an individual if the car was given on lease to the said individual and at the end of the lease period, the car ownership is getting transferred to the same individual.

All you need is a letter from the company stating these facts. A couple of my friends who did not know about this last year got the NCB with retrospective effect this year after I told them about this.

Thanks to this forum and the original poster Marlon! http://www.team-bhp.com/forum/indian...ml#post1779661

Last edited by pjbiju : 31st March 2010 at 18:19.
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Old 1st April 2010, 08:35   #1052
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Quote:
Originally Posted by pjbiju View Post
I have verified with Maruti Insurance that anyone can get the NCB for a company registered car transferred to an individual if the car was given on lease to the said individual and at the end of the lease period, the car ownership is getting transferred to the same individual.

All you need is a letter from the company stating these facts. A couple of my friends who did not know about this last year got the NCB with retrospective effect this year after I told them about this.

Thanks to this forum and the original poster Marlon! http://www.team-bhp.com/forum/indian...ml#post1779661
This was a new input for me as well. Thank you.

I just need to ask you one thing just a letter from company will do or we need some more details as well.
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Old 1st April 2010, 21:35   #1053
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Default Why I didn't choose Bajaj-Allianz

I recently renewed the insurance for my 5-year old Baleno. Before renewal I did some research and contacted a few companies. Bajaj-Allianz has repeatedly got high recommendations in this thread. So they were at the top of my list. Here is my experience with them:

Their toll free number never worked, -- just got disconnected everytime after a few IVRS steps, before I even got to talk to somebody! So I tried contacting them through their website. After a few days someone did call, -- during a meeting I was in. So I requested the guy to call me later. He agreed to call at a preset time. I never got another call!

So I left another request at the website. This time there was no response in several days.

I then tracked down one of their office numbers, and called myself. They were at first not willing to give any quote over phone. Finally they did give me a quote, -- a wrong one! They apparently didn't know the IRDA tariff for a 5-year-old car! When I pointed this out, they promised to verify this and call me back with the correct quote. They never did!

They had also promised to give me a Rs. 500 discount for my anti-theft device. This was also incorrect, and possibly illegal (the rule says the lower of 2.5% of OD, or Rs 500).

So I finally got fed up with running after them, and renewed my policy with Maruti Insurance. The experience was a pleasure, in comparison. The premium was only 1% higher than what Bajaj-Allianz would have charged, had they calculated everything correctly.

With Maruti Insurance I had the option of choosing Bajaj-Allianz too, but I purposely decided against it. Their handling of the insurance selling process itself was not confidence inspiring enough to make me think that any future claim process would be much smoother. I think Bajaj-Allianz has become too big, and too cocky for their own good.

Last edited by meerkat : 1st April 2010 at 21:45.
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Old 3rd April 2010, 23:57   #1054
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Need some clarification about insurance policies.

Had given in my dad's Linea at Concorde a week back, to fix up a few dents/scratches.
The dents/scratches were at different places - on both the rear fenders, the rear right door and some scratches on the front and rear bumper. We usually avoid taking insurance unless the damage is serious. This time Concorde kept insisting the rear right door was badly damaged and we should claim insurance (its another story that this 'major damage' was a piddly 6k compared to the 25k bill they footed us with).

However what was odd was that they said insurance will cover only one area of damage, and not all of them, and hence opted to go with the rear right door. Just to clarify, all dents had happened at different times/incidents.. and that is what they seemed to imply, that we can claim insurance for only one 'incident'. My query is - is there any such rule?
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Old 5th April 2010, 09:28   #1055
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Quote:
Originally Posted by Crazy_Eddy View Post
However what was odd was that they said insurance will cover only one area of damage, and not all of them, and hence opted to go with the rear right door. Just to clarify, all dents had happened at different times/incidents.. and that is what they seemed to imply, that we can claim insurance for only one 'incident'. My query is - is there any such rule?
Normally there is only one side in which you can get the claim paid for however there are few Bhpins who have got multiple sides claims paid from there insurance.

As far as I know "if there are multiple accidents", That cannot be claimed as one claim but there are multiple dents in one accidents those can be claimed in one claim.

@Meerkat - What happened with you is really a sad story, this should have not have been happened to you.
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Old 5th April 2010, 10:29   #1056
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Quote:
Originally Posted by rjvora_2000 View Post
This was a new input for me as well. Thank you.

I just need to ask you one thing just a letter from company will do or we need some more details as well.
Just a letter from the company did it. The letter stated that the "particular car" was on lease to a "particular employee" who was the sole user/driver of the car and the said car has now been transferred to the said employee.
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Old 6th April 2010, 11:57   #1057
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Hey Rupesh,

I have got a quote from Easy Insurance.com for Cholamandalam. Its for a Ritz Zxi in Bangalore. This is by far the cheapest quote that i have got. I am pasting the quote below. Just let me know if its fine.

Name:  insurance_quote.JPG
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Old 6th April 2010, 16:14   #1058
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You are getting 40% discount which is a good discount. You had any claim last year? That may be the reason of 0% NCB.
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Old 7th April 2010, 08:16   #1059
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My car insurance is expiring on 20th april and i am hunting for insurance quotes. I have got quotes from a couple of companies which i have listed below for your perusal. i have not claimed anything last year, my car is presently insured with bajaj alloanz which has a cashless facility with concorde chennai.

Kindly see the quote and kindly tell me what parameters do i have to look into. I have a flamenco red petrol emotion pack linea. My last year IDV was 6,60000 only inspite of my purchasing the car for 7.87 lakhs aith exshowroom price of 7.02lakhs.

quote from bajaj allianz

mydocument.pdf

another quote from Future generali insurance

MR._ASWIN_KUMAR_DR.xls

Is the IDV too low for the 1 year old no damges claimed car?. what are the parameters which i have to negotiate in quote?. is this future generali insurance reliable? From where can i get other insurance quote?

kindly please help

Last edited by Jaggu : 9th April 2010 at 10:27. Reason: Please preview post before submitting, too much of Paragraph spacing. Affects readability. Thanks
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Old 7th April 2010, 12:53   #1060
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I purchased my car in March 08. Recently some truckwala banged the right hand side rear door and caused damage to an extent wherein Hyundai needs to replace the door. I have an insurance from Iffco Tokio. Hyundai is telling me that I need to bear the cost of 2500/- out of the total expences towards the repair as 20% depreciation needs to be accounted for.
Is this correct?
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Old 7th April 2010, 19:22   #1061
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Quote:
Originally Posted by rjvora_2000 View Post
That is a driver PA you can take it if you take 4 person's Un-name PA.

If you can avoid Icici, nothing better like it.
I was trying to see quotes online at policybazaar.com. There are 2-3 things
1. They ask for voluntary excess- what is this? Based on this premium comes down
2. They ask Coverage amount of passengers under personal accident: is this per passenger or in total? the amounts go upto 5 lacs. Other places i have seen 2 lacs per passenger
3. They ask if you got anti theft device certified by ARAI installed? Does the device installed by the manufacturer on my car- verna qualify?
I guess Nationalized insurance companies are also good, except that they take time to give claims but there are no hassles with them
does the insurance amount only depend on the IDV or also on the city etc? Just saw the quote above given to geeash and for IDV of almost 6 lacs the premium is about 12K , but i am getting a value of 12K for IDV of 5.5 lacs!!

Last edited by mkh : 7th April 2010 at 19:28.
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Old 8th April 2010, 17:34   #1062
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Quote:
Originally Posted by rjvora_2000 View Post
You are getting 40% discount which is a good discount. You had any claim last year? That may be the reason of 0% NCB.
Rupesh,

This is for a new car!. Also, i received another quote directly from Cholamandalam insurance people directly. Their quote was for 11K compared to 11,720 from easyinsurance with the same insurer.

Most likely, will go with the company quote. Its the cheapest so far!
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Old 9th April 2010, 10:22   #1063
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Quote:
Originally Posted by geeash View Post
My car insurance is expiring on 20th april and i am hunting for insurance quotes.
I have got quotes from a couple of companies which i have listed below for your perusal. i have not claimed anything last year
my car is presently insured with bajaj alloanz which has a cashless facility with concorde chennai
kindly see the quote and kindly tell me what parameters do i have to look into
I have a flamenco red petrol emotion pack linea
My last year IDV was 6,60000 only inspite of my purchasing the car for 7.87 lakhs aith exshowroom price of 7.02lakhs
quote from bajaj allianz
Attachment 324044
another quote from Future generali insurance
Attachment 324043
Is the IDV too low for the 1 year old no damges claimed car?. what are the parameters which i have to negotiate in quote?. is this future generali insurance reliable?
From where can i get other insurance quote?
kindly please help
Bajaj quote looked good to me. IDV has to come down by minimum 10% every year. FG - I don't trust them. Bajaj is one of the best.

Quote:
Originally Posted by Abeer View Post
I purchased my car in March 08. Recently some truckwala banged the right hand side rear door and caused damage to an extent wherein Hyundai needs to replace the door. I have an insurance from Iffco Tokio. Hyundai is telling me that I need to bear the cost of 2500/- out of the total expences towards the repair as 20% depreciation needs to be accounted for.
Is this correct?
You can see the list of Depreciation in my FAQ thread.

Quote:
Originally Posted by mkh View Post
I was trying to see quotes online at policybazaar.com. There are 2-3 things
1. They ask for voluntary excess- what is this? Based on this premium comes down
2. They ask Coverage amount of passengers under personal accident: is this per passenger or in total? the amounts go upto 5 lacs. Other places i have seen 2 lacs per passenger
3. They ask if you got anti theft device certified by ARAI installed? Does the device installed by the manufacturer on my car- verna qualify?
I guess Nationalized insurance companies are also good, except that they take time to give claims but there are no hassles with them
does the insurance amount only depend on the IDV or also on the city etc? Just saw the quote above given to geeash and for IDV of almost 6 lacs the premium is about 12K , but i am getting a value of 12K for IDV of 5.5 lacs!!
1. I have clarify this point in FAQ please see there.
2. Please see FAQ.
3. You need to ask this to the particular insurer as your device qualify or not.

NCB, Un-name PA, Location, C.C., Year of Manufacturing Etc. is seen before making the quote.

Quote:
Originally Posted by naveenvenkatesh View Post
Rupesh,
This is for a new car!. Also, i received another quote directly from Cholamandalam insurance people directly. Their quote was for 11K compared to 11,720 from easyinsurance with the same insurer.
Most likely, will go with the company quote. Its the cheapest so far!
New car - I just missed that.
Please see un-name P.A. in your quote. - Cheapest one.
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Old 9th April 2010, 10:49   #1064
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Quote:
Originally Posted by rjvora_2000 View Post
FG - I don't trust them. Bajaj is one of the best.
I do not know about FG insurance, but the future group is really proactive in solving customer complaints/issues, I have used their online email service multiple times and everytime there has been an instant effect of my complaints.
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Old 9th April 2010, 10:56   #1065
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Quote:
Originally Posted by f1head View Post
I do not know about FG insurance, but the future group is really proactive in solving customer complaints/issues, I have used their online email service multiple times and everytime there has been an instant effect of my complaints.
My reason for not trusting is they offer very high on commission to dealers and agents which will effect the service. - In long run.
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