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Old 18th May 2011, 12:52   #1471
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Default Re: Automobile Insurance - Ask me

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A conversion to LPG must be informed to the insurance co, so it will be no different for CNG. The premium will go up.
Should this be done as soon as the Kit is fitted or after the RTO endorsement happens?
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Old 23rd May 2011, 14:46   #1472
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Time to renew insurance for my two cars. I got the following quotes from Bajaj, I am interested in opting for their Drive-Assure option. The "Own Damage Premium" seems to be pretty high (>3%) and they are giving some arbitrary Commerical Discount to make the quote look competitive with respect to other insurers.

Can someone help me negotiate a better rate - what should I be asking for? Thanks.

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Old 26th May 2011, 08:59   #1473
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Default Re: Automobile Insurance - Ask me

Hi... need a quick help!

Our innova got a deep dent and the paint scrapped off when our driver hit a concrete block while negotiating a sharp curve in a tight parking spot. The damage is on the bottom part of the left fender (between the door and the wheel well) and the door also has a slight dent.

My guesstimate is, it should cost some 15.XX K ~ 20.XX K to get it back in shape from Toyota body shop. Am taking it to the body shop today to get a quote.

Just wanna know if this damage would be covered by my insurance (Iffco Tokio)?

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Old 26th May 2011, 11:34   #1474
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Default Re: Automobile Insurance - Ask me

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Hi... need a quick help!

Our innova got a deep dent and the paint scrapped off when our driver hit a concrete block while negotiating a sharp curve in a tight parking spot. The damage is on the bottom part of the left fender (between the door and the wheel well) and the door also has a slight dent.

My guesstimate is, it should cost some 15.XX K ~ 20.XX K to get it back in shape from Toyota body shop. Am taking it to the body shop today to get a quote.

Just wanna know if this damage would be covered by my insurance (Iffco Tokio)?
Yes it will be covered. But may want to check in comarison with your Deductible/Excess and the possible NCB etc before you actually put in a claim

Best Regards & Drive/Ride Safe

Ram
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Old 26th May 2011, 14:15   #1475
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Default Re: Automobile Insurance - Ask me

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Originally Posted by androdev View Post
Time to renew insurance for my two cars. I got the following quotes from Bajaj, I am interested in opting for their Drive-Assure option. The "Own Damage Premium" seems to be pretty high (>3%) and they are giving some arbitrary Commerical Discount to make the quote look competitive with respect to other insurers.

Can someone help me negotiate a better rate - what should I be asking for? Thanks.
Recently I renewed my Insurance. Looking at the quotes you got, they are very competitive. You can check with Tata AIG Platinum quotes (This is same as drive assure). Then you can pit one against other!
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Old 26th May 2011, 15:32   #1476
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Default Re: Automobile Insurance - Ask me

Finally went ahead with the Bajaj Allianz.

Tried to reach out to TATA AIG but their online portal did not offer me "Platinum" (only Gold was offered) and the customer support call took me through a maze of menu options I lost my interest. They did not bother to call me based on my aborted online purchase transaction where I submitted all my details. Ironically, for the next few hours any site I visited was showing me TATA AIG insurance ads. Penny wise, pound foolish.
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Old 27th May 2011, 23:07   #1477
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Time to renew my insurance. I have a Santro about to complete 4years. Does any insurance company provide zero depreciation add on for vehicles upto 5 yrs?
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Old 27th May 2011, 23:25   #1478
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We have 2 Ritzs in the family which are 1 year old,April 2010 and May 2010.I got the insurance renewal done for my Ritz(April)through the Maruti Suzuki Insurance from the workshop itself which was done by New India Insurance and cost me about Rs.10700/- On the other hand,my uncle(Ritz-May) got it done directly from New India Insurance and he paid Rs.9600/- Can someone explain to me why the discrepancy in the premium amount?
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Old 28th May 2011, 08:04   #1479
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Time to renew my insurance. I have a Santro about to complete 4years. Does any insurance company provide zero depreciation add on for vehicles upto 5 yrs?
Refer to my earlier post. Bajaj Allianz offered me a zero-depreciation add-on (which they call drive assure) for my June-2007 Laura. Check with them.

Also call your service manager at A.S.S and ask him with which insurance they have a tie-up so that a potential claim will be processed without much paper-work/hassle. For instance, with some insurance providers with whom they have a close working relationship, the claims get processed very smoothly. With others, you will have to do a bit of running around.

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Old 28th May 2011, 08:16   #1480
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Hi, I am thinking of changing my 4 year old Aveo 1.4 (OTR was 6.6 lakhs in 2007) with a Vento TDI (OTR current is 11.25 lakhs). The Aveo is currently insured with Tata AIG. Will I be allowed to carry forward my 50% NCB to the Vento?

I understand that the replacement vehicle has to the same "segment/class" as the one on the NCB certificate. Are there are clear rules in this regard or do different insurers have different rules?

Thanks in advance!
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Old 28th May 2011, 08:56   #1481
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Originally Posted by androdev View Post
Refer to my earlier post. Bajaj Allianz offered me a zero-depreciation add-on (which they call drive assure) for my June-2007 Laura. Check with them.

Also call your service manager at A.S.S and ask him with which insurance they have a tie-up so that a potential claim will be processed without much paper-work/hassle. For instance, with some insurance providers with whom they have a close working relationship, the claims get processed very smoothly. With others, you will have to do a bit of running around.
Thanks buddy, I am now checking Bajaj Allianz site for the policy wordings and could not find the 'Vehicle age' clause for the zero depreciation add on. Are you sure it covers vehicles upto 5 yrs?

Been skeptical because i was offered a TATA AIG insurance with zero depreciation by Landmark insurance, but on questioning them, they confirmed that the zero depreciation would be valid only for 2 yrs and useless for my car(2007). They were trying to sell me a dummy. So just wanna be careful this time.
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Old 28th May 2011, 12:34   #1482
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Default Re: Automobile Insurance - Ask me

@katpasin,

My June-2007 Laura had regular insurance from ICICI Lombard, but this year I have renewed it with Bajaj Allianz with Drvie-Assure which is not a dummy and offers zero depreciation. A bit expensive as you can see from the quote I have attached in my previous post, but I am keen on zero depreciation because parts are super expensive with the euro cars.

I got the drive assure option while renewing online, but I felt the online-rates were on the higher side, so finally made the offline deal with their back office.

TATA-AIG has some gold, platinum, etc. and only platinum package offers the equivalent of drive assure. TATA-AIG did not offer platinum on the website, and I got lost in their call center IVR menu options while trying to check them out.

To be honest, I have no experience with claiming insurance, (touch wood) but my experience dealing with Bajaj Aliianz has been very good (both online and offline).
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Old 28th May 2011, 19:04   #1483
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@androdev - thanks. Got a call today from Bajaj Allianz, and they confirmed that the Drive assure package is for vehicles upto 5 yrs. But the qoute they gave is quite high for my 4 yr old Santro.
Regular premium: 3500
Premium with zero depreciation: Rs8500

I have accumulated lot of dents on the front and rear bumper, and a scratch on the side door. I was wondering if all this would get fixed after i take the 'zero depreciation' insurance, but i think, there would be an inspection and old dents would not be covered in this plan.

However i had a question for the experts:
I have a car which is greater than 4 yrs and less than 5 yrs. The depreciation value is 35%

I need a bumper replacement, which costs Rs5,000
On plastics, deduction is 50%

so is my calculation to find out the amount paid by insurance correct:
After deduction: Rs5,000 * 50/100 = Rs2,500
After Depreciation(35%) on Rs2,500 = Rs1625
Total amount paid by insurance for a Rs5,000 bumper is Rs1625.
Is my understanding correct? are there any more costs involved in the above illustration?
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Old 28th May 2011, 22:48   #1484
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Default Re: Automobile Insurance - Ask me

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Originally Posted by katpasin View Post
@androdev - thanks. Got a call today from Bajaj Allianz, and they confirmed that the Drive assure package is for vehicles upto 5 yrs. But the qoute they gave is quite high for my 4 yr old Santro.
Regular premium: 3500
Premium with zero depreciation: Rs8500

I have accumulated lot of dents on the front and rear bumper, and a scratch on the side door. I was wondering if all this would get fixed after i take the 'zero depreciation' insurance, but i think, there would be an inspection and old dents would not be covered in this plan.

However i had a question for the experts:
I have a car which is greater than 4 yrs and less than 5 yrs. The depreciation value is 35%

I need a bumper replacement, which costs Rs5,000
On plastics, deduction is 50%

so is my calculation to find out the amount paid by insurance correct:
After deduction: Rs5,000 * 50/100 = Rs2,500
After Depreciation(35%) on Rs2,500 = Rs1625
Total amount paid by insurance for a Rs5,000 bumper is Rs1625.
Is my understanding correct? are there any more costs involved in the above illustration?
It would be fraud to get old dents repaired on an insurance claim. Claim has to be filed as soon as the dents happen.

It's not so difficult to differentiate between an old & new dent.
I know a lot of people whose claims got refused when they tried to claim old dents.
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Old 29th May 2011, 07:23   #1485
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Is it possible to change my insurance policy from regular to "zero dep" midway by paying the additional premium? I have a Jan-registered Vento which is insured by Royal Sundaram- no claims yet. Reason is I am worried about the increasingly frequent rear-endings reported in Pune and want to be absutely secure.
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