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Old 26th December 2010, 11:57   #1366
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Default Re: Automobile Insurance - Ask me

Hello, I had made a claim this year and that claim got rejected by Bajaj Allianz.
This was the only claim in last 2 years. Will I loose my NCB even for a claim that was "denied" by the company?
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Old 29th December 2010, 22:21   #1367
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Default Re: Automobile Insurance - Ask me

I need to renew my cars insurance sometime next month. Car was manufactured in Sept. 2009 and registered in Jan. 2010. I got following quote from Tata-AIG.

Details:
1. IDV is Rs 4,50,638/-

They have offered 3 plans:
  • Pearl (Premium = 12,612/-)
- Depreciation Reimbursement
- Repair of glass, fiber, plastic and rubber parts
- Loss of personal belongings
- Emergency transport and hotel expenses
- Key Replacement
  • Titanium (Premium = 14,799/-)
- Depreciation Reimbursement
- Repair of glass, fiber, plastic and rubber parts
- Loss of personal belongings
- Emergency transport and hotel expenses
- Key Replacement
- Daily Allowance
  • Platinum (Premium = 17,334/-)
- Depreciation Reimbursement
- Repair of glass, fiber, plastic and rubber parts
- Loss of personal belongings
- Emergency transport and hotel expenses
- Key Replacement
- Daily Allowance
- Return to Invoice


I have following questions.
1. How is IDV calculated?
2. Any other policy offering similar features?
3. Any suggestions regarding what to look for and what not to?

Note: I'm new to auto insurance

Thanks in advance.
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Old 29th December 2010, 22:37   #1368
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Default Re: Automobile Insurance - Ask me

I met with an accident in the early 2008 and my claim was approved and they are still sending the cheque to me whenever I ask them! Its with TATA AIG and I have a motorcycle!

The claim was for 2500 rs but tired of asking them again and again about the status! Very bad response from the customer care too..

is there any other way to chase them?
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Old 1st January 2011, 12:56   #1369
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Default Re: Automobile Insurance - Ask me

Hi Bhpians,

I am new to this insurance world and I tried to find answer to my query before posting this but was not able to find it.
I am going to buy a new vehicle very soon and with the help of team-bhp came to know that a lot can be saved by getting insurance done directly from companies and not getting it done from dealer. Now I am going to purchase vehicle from my hometown Kanpur and going to use vehicle in Delhi/NCR region using the registration of Kanpur only.( Have recently shifted to NCR so no permanent address as of now).
Will there be any issues with the insurance claims (if any) if made in workshops of NCR?
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Old 1st January 2011, 14:33   #1370
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by Holyghost View Post
Hello, I had made a claim this year and that claim got rejected by Bajaj Allianz.
This was the only claim in last 2 years. Will I loose my NCB even for a claim that was "denied" by the company?
Nope

Quote:
Originally Posted by <Badguy> View Post
Now I am going to purchase vehicle from my hometown Kanpur and going to use vehicle in Delhi/NCR region using the registration of Kanpur only.( Have recently shifted to NCR so no permanent address as of now).
Will there be any issues with the insurance claims (if any) if made in workshops of NCR?
Shouldn't be. Insurance is generally given on an all-India basis. Some of my cars are registered in Nasik, yet I've had no problems with claims in Mumbai.

That said, if you are permanently moving to NCR, your registration + insurance papers should reflect that too.

Quote:
Originally Posted by Holyghost View Post
Which all insurance companies provide 0% depreciation policy for Jan 2008 Safari?
AFAIK, no one will give you 0% depreciation on a 3 year old vehicle (for obvious reason).
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Old 1st January 2011, 23:49   #1371
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My Fortuner completes one year this month and its time for renewing insurance policy. Last time the insurance was done by the dealer Nippon Toyota (Reliance ). After calculating the transferred NCB from my previous car (45%) I paid 30000Rs lat time. Today Tata AIG gus called me and quoted me Rs 21000 as the renewal amount.What is your opinion regarding this quote? Shall I contact other agencies for their quote also? I am copy pasting the e-mail I got from their office
Dear sir,

TOYOTA FORTUNER

VALUE 1661400
BASIC PREMIUM 55541
DISCOUNT 27777
NCB 13885
OWN DAMAGE 13885
THIRD PARTY 2625
NET PREMIUM 16510
TAX 10.3% 1701
FINAL PREMIUM 18210/- (NORMAL PREMIUM)

BUMBER TO BUMBER PREMIUM-22777/-
Regards
Dilip Kumar

Also who provides the best service and value for money among the companies? Your early inputs are appreciated...
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Old 4th January 2011, 23:16   #1372
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Default Re: Automobile Insurance - Ask me

could someone please tell me what happens if your insurance expires, and you do not renew in time? Do you lose out on NCB or something if renewed at a later date?

thanks.
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Old 5th January 2011, 07:55   #1373
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Quote:
Originally Posted by Monaro View Post
could someone please tell me what happens if your insurance expires, and you do not renew in time? Do you lose out on NCB or something if renewed at a later date?

thanks.
A grace period of a month or so is allowed by most Insurance companies and this does not affect the NCB. Howver it is always better to get the insurance renewed on time coz you never know that things wont go wrong during the period where you dont have any insurance.

Just picture an accident and subsequent claims and you not having the Insurance.
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Old 5th January 2011, 13:39   #1374
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ghodlur View Post
A grace period of a month or so is allowed by most Insurance companies and this does not affect the NCB. Howver it is always better to get the insurance renewed on time coz you never know that things wont go wrong during the period where you dont have any insurance.

Just picture an accident and subsequent claims and you not having the Insurance.
Thanks a lot for that and I am well aware of the consequences

The thing was that I tried renewing my insurance through bajaj allianz on the net, but the payment apparently failed to reach them though I got charged. So due to this mess-up I got delayed.
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Old 18th January 2011, 17:14   #1375
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Default Re: Automobile Insurance - Ask me

I have a 9yr old car. A 2001 Nov made Santro LS.
No insurance claim made till date. Maintained in it prime condition.
I am planning on getting another sedan pretty soon.
And i wish to transfer the NCB on this Santro to the sedan and get a newer insurance for the santro as it will work out cheaper for its depreciated value.

Whats your suggestion on it.

Well to top it i need to make a claim on the santro's insurance (once the new insurance is done) and get a complete paint job cause it has gathered multiple small dents over the past couple of years due to the roughians on Chennai roads.

Can anyone help me work around this problem/idea ?
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Old 18th January 2011, 18:14   #1376
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Default Re: Automobile Insurance - Ask me

No insurance company in the world will cover you for damage done before you took the policy.

I am very critical of many insurance-company policies and practices --- but you cannot expect them to give handouts to make your car look like new! Even your existing insurer will probably not pay for miscellaneous dents gathered over the years, even if you were willing to give up your no-claims bonus.

Last edited by Thad E Ginathom : 18th January 2011 at 18:17.
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Old 18th January 2011, 18:17   #1377
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Default Re: Automobile Insurance - Ask me

Guys this point cannot be made enough- for a new car DO THE INSURANCE YOURSELF. And if possible, contact a good insurance agent who can get you even lower premium than tlking directly to the company. If you go through the insurance company directly, negotiate hard and well. You won't believe how much you will save by this.
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Old 18th January 2011, 23:38   #1378
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by dilipkumar7278 View Post
My Fortuner completes one year this month and its time for renewing insurance policy. Last time the insurance was done by the dealer Nippon Toyota (Reliance ). After calculating the transferred NCB from my previous car (45%) I paid 30000Rs lat time. Today Tata AIG gus called me and quoted me Rs 21000 as the renewal amount.What is your opinion regarding this quote? Shall I contact other agencies for their quote also? I am copy pasting the e-mail I got from their office
Dear sir,

TOYOTA FORTUNER

VALUE 1661400
BASIC PREMIUM 55541
DISCOUNT 27777
NCB 13885
OWN DAMAGE 13885
THIRD PARTY 2625
NET PREMIUM 16510
TAX 10.3% 1701
FINAL PREMIUM 18210/- (NORMAL PREMIUM)

BUMBER TO BUMBER PREMIUM-22777/-
Regards
Dilip Kumar

Also who provides the best service and value for money among the companies? Your early inputs are appreciated...
Guys
No reply. Can anyone suggest which is better among Insurance companies...Tata AIG, Reliance, or any other service provider? Please reply...Its urgent....
cheers
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Old 19th January 2011, 10:28   #1379
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Default Re: Automobile Insurance - Ask me

@dilipkumar7278: I believe the bumper to bumper premium you have mentioned is the 0% depreciation policy provided by Tata AIG. If that is the case, the premium you pay is good.

If you go through this thread, from different user opinions, among private players, TataAIG and BajajAllianz are the best. People generally stay away from insurance providers like Reliance and ICICI.

Try to get a quote from BajajAllianz too. They too provide 0% depreciation policy under DriveAssure scheme. Then you can decide based on the pemium and fetures provided under each policy.
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Old 19th January 2011, 11:11   #1380
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Quote:
Originally Posted by GTO View Post
Nope

AFAIK, no one will give you 0% depreciation on a 3 year old vehicle (for obvus reason).
I managed to get 0% depreciation policy for my 2008 Jan Safari from Bajaj Allianz. I spent almost a month contacting almost all insurance providers for 0% scheme and ended up 10 days without no insurance for my car. But it was worth the effort and now I have "Drive Assure" policy with Depreciation Shield, Engine Protector and 24x7 Spot Assitance add-ons from Bajaj Allianz.

Different providers have different cut off for 0% schemes. Chola gives this policy for only 1 year old cars. ICICI and HDFC though havent published this policy for public, will provide 0% coverage for some customers for upto 2 years and is upto their discreetion.The customer care however has no idea about this policy.

TataAIG gives for vehicles upto 3 years. They made me run around a bit since even they got confused whether they can provide this insurance for a 3 year old vehicle which is entering its 4th year. Initially they promised me 0% policy quoting that they can provide for vehicles upto 3 years old and my vehicle is 3 year old. Then at the time of payment, they backed off. In short, TataAIG provides 0% depreciation upto 3 yearly renewals. If you are renewing the insurance for the 4th year, most probably you wont get what they promise.

And finally, Bajaj Allianz. They are not bound by any strict guidelines to issue 0% depreciation policy. Though they never commented about the cut off year, the general feeling I got is that they can provide this policy for vehicles upto 5 years if you have a pretty good No-claim history.

So all of you who have 3 year old vehicles and looking for 0% depreciation insurance policy, your only option is Bajaj Allianz as of now. Though there is no guarantee, there is still a slight probability that you can manage to obtain one.
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