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Old 4th August 2010, 16:49   #1246
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Hi Rupesh,
I have got two quotations from Bajaj but from different call centers.
Here are the details
IDV 377018
Basic Own Damage Rs. 12031 (Call Center 1)
Rs. 12377 (Call Center 2)
(NOTE: I have just mentioned only Basic own damage calculations here)
When i asked about the difference, the second call center guy told me that the first one would have given it for Zone B. Whereas i stay in Bangalore and it belongs to Zone A. And his argument was that the call center 1 has given a wrong quote and i might face problems during claim.
Your suggestions on this please.

And also they mentioned that they do not give any deductions for Anti-Theft devices. Is this true ?
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Old 4th August 2010, 18:09   #1247
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Originally Posted by rjstyles69 View Post
How is Royal Sundaram in terms of insurance claims ? Its time to renew my scorp's insurance and Royal Sundaram has given me the best quote as of now.

I haven't dealt with them before and would request fellow members to post their experience with RS. Thanks in advance.
My Spark and my friend's Optra are insured with Royal Sundaram and both had 1 claim each last year. Did not face any issue with the claims.
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Old 5th August 2010, 16:00   #1248
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Originally Posted by vasant3 View Post
So I called up bajaj toll free for renewal.After giving all details of the policy I was told my this year premium is Rs.61334.I told them i have not claimed any damages during last year so I should get 20% NCB and my New IDV will be 15% less than last year.The girl at bajaj Allianze said that her computer is showing premium of Rs 61334.So I called other companies TATA AIG, HDFC ERGO, ICICI etc .There quotations are ranging from Rs 28000 to 40000.
Bajaj Allianz' associate has lost her marbles. Go with the cheapest quote as long as its a reputable insuring company, and the IDV (your car's declared value) is more or less the same.

Shopping around for finance / insurance always saves big bucks!
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Old 11th August 2010, 11:19   #1249
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Default Zero % Depreciation?

Hi Rupesh,

Is it worth getting the zero % depreciation add-on that some insurance companies offer? Also, is it true that TATA AIG offers complete REPAIR of plastic parts even in their basic policy?

I am from Bangalore, where scratched bumpers are extremely common due to the chaotic traffic. Was wondering it opting for a policy which covers bumper repainting would be useful.

Looking forward to hear from you!

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Old 14th August 2010, 00:59   #1250
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My car insurance is going to expire this month.Initial idv was 4,55,000.Now it's quoted as 4,10,000.I just asked for 4,50,000 idv and premium was just few bucks more.but i read your FAQ,so even though if i made more idv is it useless? if so i can have normal depreciation.
Last year premium was 12,500(hdfc ergo).Now i am getting quote of 7,500 from reliance.I am not sure if i can really go with this option or not.Also they told about sundaram which has 0% depreciation offer,but premium is 11,000.will that be really worth?
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Old 15th August 2010, 22:55   #1251
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Just curious, what is the procedure to renew expired insurance ? How much time does one have to get the car re-insured (5days / 60 days etc) ? Anything else to take care of ??

If you could elaborate, that be great (as i couldn't find anything on this forum, anything SPECIFIC)
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Old 17th August 2010, 09:40   #1252
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Default Varying IDV?

Got a call from Bajaj Allianz yesterday for renewing my verna crdi insurance.
The IDV last year was 668000 from HDFC ERGO.
These guys are giving me the option of either taking a 6 lakh IDV or a 6.5 lakh IDV. the difference in premium is only around 1000rs.
If I take lower IDV premium is 10700rs while higher IDV is 11600rs. 0% depreciation cover is 20000rs!
Whats the catch?

Last edited by pras.oct25 : 17th August 2010 at 09:43.
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Old 20th August 2010, 04:26   #1253
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Default ICICI Insurance


I need some advice on my car insured with ICICI.

Car is a October 2007 Swift Ldi. It was insured in Oct 2009 for IDV 3,36,000.

The car met with an accident on 6th August when it went off road, hit a big rock and landed on it's roof.

The car was towed to a Maruti dealer in Chandigarh. ICICI surveyor has surveyed the car. The surveyor insists on getting the car repaired. He says my contribution to the repair cost would be around 50-60k. He says if the car is shown as 'cash-loss', ICICI will pay me Rs 80,000 and the rest will be paid by a scrap dealer.

He hasn't told me the amount that the scrap dealer is going to pay for the car but he hints it is going to be about Rs 1,00,000.

My questions are:

1. I get the feeling that the surveyor is giving me a raw deal. Is that so?

2. What should the car fetch in a total loss case on an IDV of 3,36,000 keeping in mind depreciation and everything else?

3. What's better- repair or accepting the total loss for what it is.
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Old 20th August 2010, 22:58   #1254
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Whether the car is 'total loss' or has tobe repaired depends on therepair estimate. If the dealer estimates a cost of around 2.5 lac then you will definitely get total loss value. If repair cost is less than 2 lac then you will be asked to get it repaired. For between 2-2.5 it can go either way.
If you do get total loss you should get very nearly your IDV minus scrap value.

PS: which dealer is your car with? was the insurance done from same dealer or directly with icici.
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Old 23rd August 2010, 00:19   #1255
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Originally Posted by quadra View Post
Just curious, what is the procedure to renew expired insurance ? How much time does one have to get the car re-insured (5days / 60 days etc) ? Anything else to take care of ??

If you could elaborate, that be great (as i couldn't find anything on this forum, anything SPECIFIC)
Car has to be surveyed by the Insurance Company before Policy is Renewed. There is no time limit before which you can renew. You will lose your No Claim Bonus if you dont renew within 90 days. No Claim will be paid if your meets with any damages. Also it is illegal to drive your car without insurance.

Please get it insured as soon as possible.
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Old 23rd August 2010, 08:53   #1256
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@RJVora, this is not related to Automobile Insurance, but can you help ?

Some credit card companies provide insurance to card holders. The premium is small, but provides some personal coverage & some coverage for card outstandings.

Q: Is this worth it ? Or is it just an eye-wash with no real benefits ?

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Old 23rd August 2010, 09:22   #1257
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I have purchased a used Honda civic recently. Want to transfer the insurance from previous owner to me. The car is insured with TATA-AIG. The conditions for transferring insurance are (according to TATA-AIG insurance agency):

1. Car need to be inspected before transfer of insurance
2. Rs.2000/- transfer charges (why such a high amount for transfer???)
3. There will be no NCB when I renew the insurance next time.

Is all the above conditions are normal for a vehicle insurance transfer or any of these are unreasonable?
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Old 23rd August 2010, 10:23   #1258
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Default Car Insurance For Chevvy Spark

Thought I could share my experience on insurance renewal of my Chevvy Spark, 1yr old (Sep-2009 model).

IDV was 2.7lac last year and this year, it came to 2.43lac (10% depreciation).
Was getting call from various insurance people in the last few weeks.
Originally, I had insurance from Royal Sundaram, their renewal quote was Rs. ~6800/-
ICICI gave a quote of Rs. 4250/-
Bajaj Allianz: got 2 quotes, one for 5800/- and another for 5271/-
Finally took Bajaj Allianz with 5271/-, good thing was this was delt completely online.

Sent a scanned copy of RC book and previous Insurance to this person, he got it renewed in few hrs through charging it on my credit card. It was a pleasant experience over all.

This is how Insurance premium is calculated: (Different companies give different discount on premium to be paid, varying from 20%-50%).
Basic Premium for given IDV=3.127%
Discount from Insurance company=35%
No Claim Bonus=20%
3rd Party coverage=795/-
Service Tax=10.13%

Additional notes:
- There is a 500/- compulsory deductible for any claim from most Insurers
- 3rd party property damage cover=7.5lac
- 3rd party injury damage cover= as decided by the court (unlimited)
- Owner cum driver coverage =2lac
- driver coverage=50k

Thanks for many inputs here, which led me to take Bajaj over ICICI though premium difference was about 1000/-
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Old 24th August 2010, 00:39   #1259
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- 3rd party property damage cover=7.5lac
Is this usual? Good grief, I should look at my policy. What if you total a car worth ten times this much?
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Old 26th August 2010, 22:11   #1260
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I need to renew my insurance for OHC 2002 Aug model 1.3 Dx.
I bought this car in 2009 Oct 31 st for Rs 2.7 lakh.
Current policy is with Bajaj Allaince they told me that even though i have not claimed the previous owner has done it in Sept 2009 so no NCB , Policy is transfered to my name in Dec 3rd 2009 . Is there a chance of getting NCB ?

I checked with 3 company for the Quote

IDV : 260,837
Premium : 8,458

National Insurance
IDV : 262500
Premium : 8060

IDV : 260356
Premium : 7581

yet to recieve from Bajaj Alliance where the car is insured now.Looks like they are lazy eventhough they promissed me to call back in 5 mins no show till now (2 days). Which one should i go ? Will there be any better option to check? The current policy is getting expired on 8th Sept

Last edited by vinu_pm : 26th August 2010 at 22:17. Reason: more prompt
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