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Old 21st June 2010, 08:37   #1216
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Quote:
Originally Posted by falcon009 View Post
1. Is there any limit to the number of claims in a year/lifetime?
2. Does the yearly premium get effected if insurance is claimed?
3. What percentage do i have to pay for the damages?
1. No limit.
2. Yes. There is a term called NCB (No Claim Bonus) which will get to 0% which means high premium.
3. You need to read FAQ for this details.
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Old 5th July 2010, 02:47   #1217
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Basic premium at 3.343% seems high. Few days ago when I was researching cars and had asked for a quote for Manza QJD ABS, Chola has given me 1.95% of IDV for a basic plan and 2.095% for upgraded one. We do not pay attention to basic premium rate and hence 45% discount seems very delicious, whereas actually, it comes out to be the same. Infact, if you ask 2-3 insurance firms and pit against each other, you may get a cheaper quote.

@Mr. Vora: do we have any standard basic premium rates as per IRDA?
(Btw, i came across Don's thread about his Dzire. Kudos to you for the fabulous job done. Thank god people like you are still there in the world today. Too bad it did not end in his favour)

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Originally Posted by Shankyz View Post
Hi,

I got the following quote from Bajaj for my 2007 model SX4 Zxi. Can you have a look and confirm if the IDV and premium calculations are ok? (The car is registered in Ghaziabad).

MARUTI SX42007
INSURED DECLARED VALUE 460000
BASIC PREMIUM (3.343%) 15377.8

TOTAL BASIC 15377
COMPANY DISCOUNT (LESS 45) 6920
8458
NCB DISCOUNT 35% 2960
TOTAL OD 5498
THIRD PARTY 2500
OWNER 100
PASSENGERS 200
DRIVER 25
TOTAL 8323
SER.TAX 10.30% 857.269
NET PREMIUM 9180

FINAL PREMIUM IS9180
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Old 5th July 2010, 14:36   #1218
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Hi Rjvora,

I need some inputs regarding purchase of used car.

The car I am planning to buy doesnt has insurance (expired 3 days back), the owner doesnt want to insure himself as he wants to transfer NCB to the new car he is buying.

Do let me know, the way to get the insurance of this car and how is the premium calculated ? Can I get the insurance before purchasing the car ? Does RC book needs to show my name before I can purchase insurance ? Can I get some benefit for my NCB for this car ?
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Old 5th July 2010, 15:11   #1219
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Quote:
Originally Posted by tanwaramit View Post
Can I get the insurance before purchasing the car ? Does RC book needs to show my name before I can purchase insurance ? Can I get some benefit for my NCB for this car ?
Yes, normally insurance guys ask for the RC book to show that your name appears on it.
I faced a similar situation, when I transferred a car from company lease, and the insurance expired before I transferred the car.
I talked to insurance people, and they said, I can take insurance in my name, provided I give a letter that I will get the car transferred to my name in 30 days. Then I took this insurance, and got my car transferred.

This was necessary because, when you go to RTA with transfer papers, they will ask for RC book, insurance and pollution check certificate.
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Old 6th July 2010, 14:29   #1220
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I recently got a used Honda Civic. The premium quoted by TATA AIG and other companies is around INR 14K.

I also own a Esteem that is insured by Oriental India and has a NCB of 65%. I understand that I can transfer that insurance to the Civic, but to do that I need to sell off my Esteem. I have already done that.

Now how does this process work? Can I get a 65% discount on the premium? Quite confused and would really appreciate some guidance.

Thanks
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Old 7th July 2010, 11:25   #1221
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Quote:
Originally Posted by hiren.mistry View Post
I recently got a used Honda Civic. The premium quoted by TATA AIG and other companies is around INR 14K.

I also own a Esteem that is insured by Oriental India and has a NCB of 65%. I understand that I can transfer that insurance to the Civic, but to do that I need to sell off my Esteem. I have already done that.

Now how does this process work? Can I get a 65% discount on the premium? Quite confused and would really appreciate some guidance.

Thanks
same situation as mine, except that I am not selling the older car.
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Old 7th July 2010, 11:40   #1222
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Friends:
Insurance due for Aug 2010. Currently have ICICI lombard. But, want to change.
Current quote for swift LDI Aug 2009 model with NCB given by maruti insurance is 8900.

Is Maruti Insurance good enough? Or should i look for Royal Sundaram?
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Old 7th July 2010, 13:22   #1223
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Default Need help with insurance renewal

Guys, i paid Rs.29635/- as insurance to Reliance when i bought my Skoda Laura in June 2009. It is due for renewal on 14th July 2010. I have received different insurance renewal quotations from three different companies. As i don't know much about these things, i would really appreciate some expert guidance. I have attached images of the three quotations i've received, for reference. Please guide me through this. Which is the best (i don't know the parameters for this rating) among these? My original insurance is Reliance.
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Automobile Insurance Queries? Ask me-dsc00939.jpg  

Automobile Insurance Queries? Ask me-dsc00940.jpg  

Automobile Insurance Queries? Ask me-dsc00941.jpg  

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Old 7th July 2010, 14:32   #1224
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Hi. Can you guys help me out here: http://www.team-bhp.com/forum/indian...rance-faq.html (Automobile Insurance - FAQ)
It's urgent. TIA!

EDIT: The original post. (For images please click the above link)

Guys, i paid Rs.29635/- as insurance to Reliance when i bought my Skoda Laura in June 2009. It is due for renewal on 14th July 2010. I have received different insurance renewal quotations from three different companies. As i don't know much about these things, i would really appreciate some expert guidance. I have attached images of the three quotations i've received, for reference. Please guide me through this. Which is the best (i don't know the parameters for this rating) among these? My original insurance is Reliance.

Last edited by Akki_5 : 7th July 2010 at 14:34.
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Old 7th July 2010, 15:57   #1225
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Friends,

I have a spark bought in 21 Aug 2009. I already claimed the insurance for the body repair once. There is one more body repair work (thanks to cabs and road repair) which may cost 3-4 K. Whether to claim it before completing the present insurance or after renewing it?

Last edited by Latheesh : 7th July 2010 at 15:58.
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Old 7th July 2010, 16:01   #1226
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Quote:
Originally Posted by tanwaramit View Post
same situation as mine, except that I am not selling the older car.
Well, I guess the option you have is to transfer your old insurance to your new car and get a 3rd party or new insurance for your old car.

I have spoken to Bajaj Allianz and they are offering a full 65% NCB for my new car.
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Old 8th July 2010, 16:53   #1227
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Let me say "I am sorry for delayed reply..." As I was out of town with no internet connection.

Quote:
Originally Posted by Dieseling View Post
Basic premium at 3.343% seems high.

@Mr. Vora: do we have any standard basic premium rates as per IRDA?
(Btw, i came across Don's thread about his Dzire. Kudos to you for the fabulous job done. Thank god people like you are still there in the world today. Too bad it did not end in his favour)
No this is not high, this is as per tariff. This rate is from IRDA it self.

Just for your information Don didn't wanted to fight so we stopped that claim.

Quote:
Originally Posted by tanwaramit View Post
1. Do let me know, the way to get the insurance of this car and how is the premium calculated ?
2. Can I get the insurance before purchasing the car ?
3. Does RC book needs to show my name before I can purchase insurance ?
4. Can I get some benefit for my NCB for this car ?
1. Once you buy the car you can call insurance company and ask them to quote. Once you finalized the company they will survey the car free of cost.
2. Insurance normally work's very fast but you can't buy before the purchase of the car.
3. Not must. - There is a form which is called "Form 29" if you show that form to insurance company they can issue the policy even if RC doesn't have your name on it.
4. I didn't understood your question please re-write the question again, Sorry for the trouble.

All the other answer I will post my reply as time permit's.
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Old 8th July 2010, 18:04   #1228
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Quote:
Originally Posted by sriturl View Post
Yes, normally insurance guys ask for the RC book to show that your name appears on it.
In Mumbai, RTO they take minimum 45 day's to transfer the name on the RC book, so you can't insurance till that time?

In transfer case "Form 29" is must which will have the details of transfer of the name of vehicle owner.

Quote:
Originally Posted by hiren.mistry View Post
Now how does this process work? Can I get a 65% discount on the premium? Quite confused and would really appreciate some guidance.
Process is very simple.

You need to show your NCB letter to your Civic car insurance company and they will endorse the policy and will give you refund of premium. They might ask for the letter, please give that to them.

Quote:
Originally Posted by tanwaramit View Post
same situation as mine, except that I am not selling the older car.
Sell of car is must to transfer the NCB from old car to new car.
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Old 8th July 2010, 19:45   #1229
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Hi RJ
I apologise if this is offtopic..I recently had a small accident while driving in Ahmedbad when two guys on a Pulsar motorbike smashed on to my right damaging both the doors of my Altis. I stopped them and took details of them (address, bike reg etc) and took them to a local police station. The police checke him out to make
sure he ahd license and insureance and let him go. I also took a photocopy of his covernote from Bajaj Insurance. To my horror Toyota Infinium said this will only go through my insurance(Reliance) as my claim and wont be claimed brom Bajaj as this
is the easiest sytem! I will lose my NCD and will also have to pay additionaly
for plastics and the deprication!! Shocked. I had to agree to this to get the car fixed by Toyota as Reliance have Cashless arrangement with them. Is this the correct way?
I would have thought that Reliance(my insurance)will recover this from Bajaj(the other guy's Insu co)..and at worst I will only loe the NCD. Please enlighten me.
warm regards
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Old 10th July 2010, 11:10   #1230
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Quote:
Originally Posted by rjvora_2000 View Post
Process is very simple.

You need to show your NCB letter to your Civic car insurance company and they will endorse the policy and will give you refund of premium. They might ask for the letter, please give that to them.



Sell of car is must to transfer the NCB from old car to new car.
Yes, thats what I did. Received the NOC from Oriental insurance company and now Getting my car insured with Bajaj Allianz today.

Cheers
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