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Old 12th April 2010, 10:45   #1066
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Rupeshji,

I have made one claim of 20k on the policy for my Punto (company is Bajaj Allianz). So I have already lost out on the no claim bonus for next year.

Now a couple of days back, a coconut smashed the windshield of my Punto. Now if I make another claim on the policy, will my premium shoot up considerably next year ? The cost of the windshield replacement is close to 6k. The premium I had paid for the new car was somewhere between 12.5 - 13k

Thanks,

Amogh
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Old 12th April 2010, 10:52   #1067
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Quote:
Originally Posted by amoghchaphalkar View Post
will my premium shoot up considerably next year ? The cost of the windshield replacement is close to 6k. The premium I had paid for the new car was somewhere between 12.5 - 13k
No premium will not have any effect. Since your NCB is already 0% for next year.
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Old 12th April 2010, 15:42   #1068
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Default Query regarding New India Assurance Premium

Hi,

Just recently I renewed New India Assurance Premium for my Matiz. Now, this year premium was more then the last years & the reason I was given is because my car became 10 yrs old, it belongs to different bracket for calculation. I was told that they have different bracket for premium calculation, i.e.
1. cars from 0-9 yrs
2. cars from 10-14 yrs
3. cars from 15 + yrs.

Is it true? Anyways I paid but I never knew this kind of thing. Also, to my surprise 2 yrs back when I did claim for my windshield replacement, even glass is 100% covered they deducted Rs 2500 flat on the total amount and the reason as per them was to avoid FALSE claims. Now I don't understand that too. They told that it's their policy that on any bill amount they deduct above mentioned amount to avoid false claims. I ended up paying that and the difference in my premium every year as I didn't entitled NCB for that year for that small claim amount.

Appreciate if above two questions can be clarified. Please do let me know if you need detailed break up for my last year's and this year's premium.

Thanks,
Pradip.
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Old 12th April 2010, 16:07   #1069
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seems like the insurance companies are making a fool of us. I am getting all different premium amounts from different people. Though i understand that it will depend on how much one can give away on their commission, but what i fail to understand is this
1. Online- Bajaj Allianz gives me a quote for 12840, while the agents are giving at about 12K- for all the same values of IDV and other stuff. I thought online should be cheapest!
2. From ICICI again the same story, and what is funny is that when i go to a portal like apnainsurance, they quote a lower premium but click on apply leads to the page of the insurance co, which will again give the same premium amount finally!
Its a completely disorganized and unprofessional set up still i feel, online should work the best but its not working properly!! Dunno where and what to trust now, looks like finally will go with a toss
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Old 13th April 2010, 08:51   #1070
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Quote:
Originally Posted by pradipk View Post
this year premium was more then the last years & the reason I was given is because my car became 10 yrs old, it belongs to different bracket for calculation. I was told that they have different bracket for premium calculation, i.e.
1. cars from 0-9 yrs
2. cars from 10-14 yrs
3. cars from 15 + yrs.
Is it true? Anyways I paid but I never knew this kind of thing.

Also, to my surprise 2 yrs back when I did claim for my windshield replacement, even glass is 100% covered they deducted Rs 2500 flat on the total amount and the reason as per them was to avoid FALSE claims. Now I don't understand that too. They told that it's their policy that on any bill amount they deduct above mentioned amount to avoid false claims. I ended up paying that and the difference in my premium every year as I didn't entitled NCB for that year for that small claim amount.
1. Partly true.
Up to 5 year's, between 5 to 10 year's and above 10 year's premium changes (Marginal increase)

2. 100% wrong.
Rs. 2500 can be towards excess (Please read FAQ for details on this one) and not for the reason they have told you.

@mkh - You seems to be, too much upset with the insurance companies, you need a person who can better explain you things, in a simpler way which is not possible on line for me.
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Old 13th April 2010, 10:04   #1071
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Quote:
Originally Posted by rjvora_2000 View Post
1. Partly true.
Up to 5 year's, between 5 to 10 year's and above 10 year's premium changes (Marginal increase)

2. 100% wrong.
Rs. 2500 can be towards excess (Please read FAQ for details on this one) and not for the reason they have told you.

@mkh - You seems to be, too much upset with the insurance companies, you need a person who can better explain you things, in a simpler way which is not possible on line for me.
actually the deal is maybe that i am trying to know too much Most people usually ask premium and pay, now i am trying to ask a lot which is putting off some agents!! The last person who came to take my cheque gave me a lowest quote but i saw that the PA for unnamed passenger was Rs 100, so they were covering ONLY 1 person!!! I wanted the default/usually chosen 5 so i sent him back. It puts me off when people do not deal professionally and that is the case with these agents i have dealt with so far. Going to close this with the hyundai agent as he is clear on what he has to offer, though he is also a little dumb.
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Old 13th April 2010, 10:32   #1072
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actually the deal is maybe that i am trying to know too much Most people usually ask premium and pay, now i am trying to ask a lot which is putting off some agents!!
True, very true. I my self fail to understand the reason of cheating or fooling clients. I don't know why they do that? but unfortunate fact of the matter is that people do that...

What you are asking is not wrong as a customer it's your right to know; you should be knowing the charges in detail.

Lack of knowledge; hunger for knowledge is missing in this insurance industry these day's.
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Old 13th April 2010, 12:42   #1073
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I had TATA-AIG in my first year but did not make any claims. For the second year I took Reliance because they were the first to approach me and I made a claim recently which got duly settled with no hassles. But for the next year I am thinking of going back to TATA-AIG since my A.S.S has cashless with them. How are they in handling claims?
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Old 13th April 2010, 13:18   #1074
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Quote:
Originally Posted by rjvora_2000 View Post
1. Partly true.
Up to 5 year's, between 5 to 10 year's and above 10 year's premium changes (Marginal increase)

2. 100% wrong.
Rs. 2500 can be towards excess (Please read FAQ for details on this one) and not for the reason they have told you.

@mkh - You seems to be, too much upset with the insurance companies, you need a person who can better explain you things, in a simpler way which is not possible on line for me.
Thanks Rupesh. I'll go thru FAQ as suggested. Also, yes the increase is Marginal only but as I never knew that, it was a surprise for me.

Thanks,
Pradip.
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Old 13th April 2010, 14:18   #1075
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Default Quote for my car

Hi all,

I have a Scorpio April 2005 SLX 7-str CRDe model. I am currently insured with National Insurance which expires by the 16th of April(3 days more). I had made a claim last year and it was a very bad experience. I had to literally fight with them for the claim. I decided to go ahead with a private insurer this year. Went through this thread and decided to check Bharti-AXA and/or Bajaj-Allianz.

Following are the details for last year's insurance(National):
IDV - 500000
Premium(Nett) - 10180
total(after tax) - 11237

Following are the details I got after enquiries:
1. Bharti-AXA -
IDV - 400000
Premium - 15644
They have agreed to send an agent to my place tomorrow to explain the details and buy the insurance if am ok

2. Bajaj-Allianz
IDV same - 400000
Premium -
These guys do not have an option of sending an agent to my place to explain the details.

since I had made a claim last year, I do not have a no claim bonus.

Am not sure of what else I should look for. Any suggestions people?
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Old 13th April 2010, 15:43   #1076
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Just got a call back from Bajaj Allianz revising my premium as follows:
IDV - 426846
Premium - 12484
I have asked them to send me an estimate on this so that I can have more details and compare it with Bharti-AXA.
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Old 13th April 2010, 15:58   #1077
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Hi! I had a Scorpio VLX purchased in June 2008 and after Insurance renewal in June 2009 - it was stolen. We had informed the Insurance company , lodged FIR and received the final report from the police via court in Dec 2009. The value was somewhere around 7.5 Lakhs though it cost me 11.25 Lakhs originally due to company registration and insurance amount- IDV for first year was close to 9.5 Lakhs.

Insurer- New India Assurance. We have still not got any revert from the insurance company despite follow up. In March they told us that they were waiting for surveyor's final report which was almost done and should be completed in a week time.

I would like to know - what is the time limit - if any for insurance company to pay after courts endorsement/ police report and submission of claims?
Also what is the amount that they should be paying in this case ( theft)?

They had asked me to submit all the documents including original insurance policy which we had done alongwith police report, keys( 1 set is still with the police), registration amount receipt, intimation to RTO, transport commissioner etc., driving licence copy of the user, RC card. Is there anything else that needs to be done.
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Old 14th April 2010, 09:27   #1078
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Quote:
Originally Posted by zaks View Post
I am thinking of going back to TATA-AIG since my A.S.S has cashless with them. How are they in handling claims?
Reliance and Icici is in the bottom two as far as service is concern. Tata is best option for you as you will get good service in claim. (Cashless)

Quote:
Originally Posted by Aparajith View Post
Following are the details for last year's insurance(National):
IDV - 500000
total(after tax) - 11237
Following are the details I got after enquiries:
1. Bharti-AXA -
IDV - 400000
Premium - 15644
They have agreed to send an agent to my place tomorrow to explain the details and buy the insurance if am ok
2. Bajaj-Allianz
IDV same - 400000
Premium -
These guys do not have an option of sending an agent to my place to explain the details.
What is your last year's IDV?
Why there is such a big difference in the premium?
Please check with your service station with which company they have tie-up with for cashless?
What is the premium amount from Bajaj?

Quote:
Originally Posted by Aparajith View Post
IDV - 426846
Premium - 12484
Friend, more details please like...
Which is the car?
What is the NCB?
What is the last year's IDV? etc.

Quote:
Originally Posted by shatrughna View Post
I would like to know - what is the time limit - if any for insurance company to pay after courts endorsement/ police report and submission of claims?
Also what is the amount that they should be paying in this case (theft)?

They had asked me to submit all the documents including original insurance policy which we had done alongwith police report, keys(1 set is still with the police), registration amount receipt, intimation to RTO, transport commissioner etc., driving licence copy of the user, RC card. Is there anything else that needs to be done.
Write a letter to company with a c.c. to Irda with a reply time limit of 15 day's. I am sure they will reply quickly.

If there is any document which needs to be still submitted by you then it is insurance companies job to give you in writing if they don't that means they need nothing.

Please come back to this thread for any more help you need.
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Old 14th April 2010, 17:50   #1079
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Hi Rupesh,

There is a lot of difference in IDV quotes that we recieve from various agents or service centers. In my case (1st renewal), One agent generated quote with 15% depreciation while other quoted 20% depreciation. I took 20% depreciation quote after taking advice from you.

Same is now happening with a friend of mine. He also has same 15% and 20% depreciation difference.

My question is which one is the correct one. What if 20% is the actuall depreciation and someone buy insurance on 15% depreciation as given by agent. In case of total loss what is the amount that one should expect? Will insurance company give full value of IDV or calculate @ 20% dep since post renewal car is more than a year old an as per IRDA dep is 20%. So does it make sense to buy car insurance with higher IDV or its yet another idea to rip off customers by agents and insurance company?

Last edited by mailmishra : 14th April 2010 at 17:52.
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Old 14th April 2010, 18:17   #1080
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Default Renewal

Hi Rupesh,
Hats off for the wonderful/informative thread and the effort you are putting up in answering all of them .

My car insurance is in for renewal next month. Last year IDV was Rs.371330. I have done one claim.

Here is the quotations i have got for IDV Rs.334000

Bajaj 8712
TATA AIG 8227
United 10696
Chola 8227
Reliance 9487
ICICI 8663
HDFC 9570
Bajaj Drive assure 11580

Q 1. Is it ok to go for the renewal almost one month earlier ? I know the renewed insurance would be effective after the lapse of the existing insurance. Do i wait till a week before the expire date to finalize the deal ?
Q 2. Out of the quotes which is better as per you ?
Q 3. I was interested in the Bajaj Drive assure ? what is your suggestion on that ? what are the pros and cons of it ?

Regards,
Santosh
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