Insurance - Ask me

[hdi_pro]

Hi,

I have three quotes from two different dealers for my new car.which one should i go for


Bajaj Allianz

Basic own damage - 15125
Total OD Premium - 9831
Basic TP liablity - 800
Compulsory PA 100
PA unamed passenge 125
LL to Employee 25
net premium 10881
final premium 12002
IDV=EX showroom price


Basic own damage - 14493
Total OD Premium - 9420
Basic TP liablity - 800
Compulsory PA 100
PA unamed passenge 125
LL to Employee 25
net premium 10470
final premium 11548
IDV=95 % of EX showroom price

ICICI lombard.

Total Premium -11550
IDV = 95 % of EX showroom price

So here are my questions

a)are the premium amounts for a new car alright or should I bargain for discounts(Ex show room price 473987)
b)which one should I go for.ICICI or Bajaj(based on the forum experiences)
c) Should I IDV be 100% of Ex show room price or 95% of Ex show room price

d) are there any options that I really dont need or possibly would not use?

Thanks
hari.
b) I

[rjvora_2000]

Originally Posted by ashthedivx

At the end of day it looks like a real busy day

I mailed to Bajaj Allianz, ICICI, Bharti AXA and PolicyBazaar.com out of which bajaj allianz and policybazaar.com called up

A doubt how come Baja Allianz with nearly same IDV but better overall insurance (more Driver/owner insurance, more Passengers insurance) gave a lesser quote then that of Reliance (provided by policybazaar.com). I can understand a difference of a 100/200 Rs but the difference is of more then 2K ??

Any clarifications ??

Also, any idea how much depriciation one can claim for CNG Kit - Baja Allianz said it should be 15% but Policybazaar claimed it should be 10% ??

For Cng as much Deprecation as much as you do for your car!!! (If you Deprecate your car by 15% the cng has to be deprecate by 15% and if you deprecate your car by 10% then cng has to be deprecate by 10%)

Get the bifurcation from the company and you will understand why there is a difference of 2K+.

[rjvora_2000]

Originally Posted by hdi_pro

Bajaj Allianz
Basic own damage - 15125
Total OD Premium - 9831
Basic TP liablity - 800
Compulsory PA 100
PA unamed passenge 125
LL to Employee 25
net premium 10881
final premium 12002
IDV=EX showroom price

Basic own damage - 14493
Total OD Premium - 9420
Basic TP liablity - 800
Compulsory PA 100
PA unamed passenge 125
LL to Employee 25
net premium 10470
final premium 11548
IDV=95 % of EX showroom price

ICICI lombard.

Total Premium -11550
IDV = 95 % of EX showroom price

So here are my questions

a)are the premium amounts for a new car alright or should I bargain for discounts(Ex show room price 473987)
b)which one should I go for.ICICI or Bajaj(based on the forum experiences)
c) Should I IDV be 100% of Ex show room price or 95% of Ex show room price

d) are there any options that I really dont need or possibly would not use?

Thanks
hari.
b) I

A) You can get discount on new car's also.
B) Bajaj is a good company (Icici is also not bad).
C) IDV of the new car has to be 95% of Ex-showroom value.

I will advice you to go for highest Un-named P.A. that is Rs. 500/- for 5 people Rs. 2,00,000/- sum.

[ashthedivx]

Originally Posted by rjvora_2000

For Cng as much Deprecation as much as you do for your car!!! (If you Deprecate your car by 15% the cng has to be deprecate by 15% and if you deprecate your car by 10% then cng has to be deprecate by 10%)

Get the bifurcation from the company and you will understand why there is a difference of 2K+.

Thanks, will do that. By the way Is Bharti AXA any good in Car insurance, it might be my first encounter with Bharti AXA. Though a known is placed in Bharti AXA as zonal mgr. and is after my life for selling me Bharti AXA car insurance, can one except some favor at some incidence ? Are they smooth for reimbursment gernally ?

[rjvora_2000]

Originally Posted by ashthedivx

Thanks, will do that. By the way Is Bharti AXA any good in Car insurance, it might be my first encounter with Bharti AXA. Though a known is placed in Bharti AXA as zonal mgr. and is after my life for selling me Bharti AXA car insurance, can one except some favor at some incidence ? Are they smooth for reimbursment gernally ?

Sirji frankly speaking do not have much idea as they are new in the business of Car insurance.

[ashthedivx]

Originally Posted by rjvora_2000

Sirji frankly speaking do not have much idea as they are new in the business of Car insurance.

Can undestand !!

Any idea about Reliance - Are they any good in insurance thing like ease of claiming, claim clearance... getting a good claim from them as well.

[rjvora_2000]

Originally Posted by ashthedivx

Can undestand !!

Any idea about Reliance - Are they any good in insurance thing like ease of claiming, claim clearance... getting a good claim from them as well.

I have had a lot of friend's who have good and bad both experience with them. but I would say they are not a bad company but only point is they are too aggressive in doing business and in that process they over commit the clients and under perform. which is a bad thing in insurance.

[Sha09mel]

Originally Posted by rjvora_2000

only point is they are too aggressive in doing business and in that process they over commit the clients and under perform. which is a bad thing in insurance.

True rjvora. I've had experiense with salesperson from Rel. they push you to the limit which really gets you thinking, but you need to probe them as one of them gave me a premium quote with Voluntary Access had I not probed him.

[ashthedivx]

Originally Posted by rjvora_2000

I have had a lot of friend's who have good and bad both experience with them. but I would say they are not a bad company but only point is they are too aggressive in doing business and in that process they over commit the clients and under perform. which is a bad thing in insurance.

Looks like I have Reliance is high in my cards as they are offering 2nd lowest premium after Bajaj-Allianz (Bad Moutshut Rating :( ). Bharti AXA is third on the list as they pretty new in the business.

Thanks for the non-associated advice mate !! Keep it up !

[Sha09mel]

Hi Team,

This is my 2nd year of insurance & what I need to know is the current IDV value calculated on 10% depreciation on last year IDV or as per the IRDA calculation.
As per the insurance company the current IDV is calculated as per the IRDA calculations but they can increase it by 10-15% & the premium will increase accordingly & I always thought current IDV was 10% depriciation of last year IDV, could someone kindly clarify.

[Shankyz]

do we have a similar thread for Health insurance too? Confused with the offerings from several providers and the huge difference in premium for same age, insured amount, policy term.

[rjvora_2000]

Originally Posted by Sha09mel

True rjvora. I've had experiense with salesperson from Rel. they push you to the limit which really gets you thinking, but you need to probe them as one of them gave me a premium quote with Voluntary Access had I not probed him.

Try and avoid Voluntary Access in the policy that is not from which you get benefit but it is other way round. You are at loss if the claim comes in the policy.

Originally Posted by ashthedivx

Looks like I have Reliance is high in my cards as they are offering 2nd lowest premium after Bajaj-Allianz (Bad Moutshut Rating :( ). Bharti AXA is third on the list as they pretty new in the business.

Thanks for the non-associated advice mate !! Keep it up !

Let me tell you Sirji Bajaj is the best in the business as far as motor insurance is concern. - Just a non-commercial advice. (My personal opinion, I can be wrong also.)

Originally Posted by Sha09mel

Hi Team,

This is my 2nd year of insurance & what I need to know is the current IDV value calculated on 10% depreciation on last year IDV or as per the IRDA calculation.
As per the insurance company the current IDV is calculated as per the IRDA calculations but they can increase it by 10-15% & the premium will increase accordingly & I always thought current IDV was 10% depriciation of last year IDV, could someone kindly clarify.

Idv is not given by IRDA that's wrong information.

Idv - Insured (This is only you and nothing else.) Declared Value. - What ever you want to declare will be covered. Normally it is between 10 to 20 % less then the last year's IDV. No fix calculation for this.

[rjvora_2000]

Originally Posted by Shankyz

do we have a similar thread for Health insurance too? Confused with the offerings from several providers and the huge difference in premium for same age, insured amount, policy term.

well I can answer those but on T-Bhp it's about motor's RIGHT?

But still ask your query in detail please!!! I know some of the product in the market.

[aka_iitd]

Can start the thread in Shifting gears section.

[rjvora_2000]

Originally Posted by aka_iitd

Can start the thread in Shifting gears section.

Originally Posted by Shankyz

do we have a similar thread for Health insurance too? Confused with the offerings from several providers and the huge difference in premium for same age, insured amount, policy term.

Your wish for me that is a command. Hear is the link for that trend.

http://www.team-bhp.com/forum/shifti...ml#post1239270 (Health Insurance - Ask me)