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Old 23rd January 2014, 08:35   #46
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Default Re: Automobile Insurance - FAQ

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Originally Posted by ghodlur View Post
This means that BA's database must be reading the car cost as 7L maybe slightly lesser too. Which I guess would be the current exshowroom cost of the car model/variant. Call them up and enquire if thats the case. If yes, then you stand to gain the extra IDV at the premium cost.
what will I gain ? I think I am paying extra

Swift LDi ex showroom price was Rs 4,74,574 when I bought it in 2010.
We have the next generation Swift, and LDi - ex showroom price is Rs 5,66,xxx

When they calculate Total loss the surveyor will say this is old gen and wil calculate the correct IDV, but the system is calculating higher IDV.

I think they will say its a system error and surveyor will have the final say.

What do you think ?

Update:I used the premium calculator on ICICI Lombard, I got an IDV of Rs 2,82,393

Last edited by F150 : 23rd January 2014 at 08:40.
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Old 23rd January 2014, 08:41   #47
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When they calculate Total loss the surveyor will say this is old gen and wil calculate the correct IDV, but the system is calculating higher IDV.

I think they will say its a system error and surveyor will have the final say.
Although personally I dont think that will be the case coz the Insurance co will have to honor the policy taken, but we know that many a times Insurance co try to find the loopholes to make the life of the owner difficult. But you do have a valid point and the best people to throw some light in such situations are the BA people themselves. Have a conversation with them and let us know about their views. Meanwhile I will scrouge through the info which I may have and will post it on the forum.
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Old 9th March 2014, 14:35   #48
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Default Re: Automobile Insurance - FAQ

I have a VW Vento and i need to renew my insurance. Does it make sense to take 0 Dep Insurance ? I am given to understand that 0 Dep insurance is meant for high end cars where plastics even cost a bomb. The difference between regular insurance and 0 Dep is nearly 4k.
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Old 9th March 2014, 15:28   #49
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Originally Posted by rauldsouza View Post
I have a VW Vento and i need to renew my insurance. Does it make sense to take 0 Dep Insurance ? I am given to understand that 0 Dep insurance is meant for high end cars where plastics even cost a bomb. The difference between regular insurance and 0 Dep is nearly 4k.
Zero dep add on along with the normal Insurance policy does help esp when the car is in the first few years of ownership. This is applicable to all segments of the vehicles where the cost of repair does pinch a lot in case of any claims. I would suggest opt for zero dep for that extra peace of mind.
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Old 17th March 2014, 22:40   #50
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Default Re: Automobile Insurance - FAQ

My Innova met with an accident 2 weeks ago. It hit a two wheeler on the Kolar Bangalore Expressway.

My driver was alone in the car when this happened.

We went to the police station and got my driver released on bail and the car also released.

Now the car is in the show room for repair with estimate of 1.5 L

The Insurance surveyor clams that in this case he cannot provide cashless facility as he would need a copy of the Charge sheet before he can release the money. He is also demanding a copy of the Indemnity Bond.
He claims that i will have to settle the full repair amount and claim it when charge sheet is available.

As per my lawyer charge sheet will not be ready for at least a month.

Can somebody guide me regarding future course of action.

Thanks in advance.
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Old 20th March 2014, 13:27   #51
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Default Re: Automobile Insurance - FAQ

Just wanted an opinion, as insurance for my 2011 FIAT Punto MJD Active is due for renewal in May. The normal premium with an IDV of around 3.70 lakhs comes to approx. Rs. 7000 with NCB since 2011. But wanted to opt for Bajaj Allianz's Drive Assurance (Zero Depreciation) policy which is for almost Rs 11,000.

I want to take Drive Assurance because I had stalled my car in a flooded road once (was lucky as no damage was done, as I didn't start the car while submerged in water). Damage due to unintentional water inundation is covered under Drive Assurance. Plus one gets zero depreciation, if a claim is made (haven't made a claim so far). I believe there are a few other benefits like a free tow, etc. Please advise whether the extra Rs 4000 (more than 50% extra) or so is really worth it.

Last edited by jessie007 : 20th March 2014 at 13:30.
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Old 20th March 2014, 15:50   #52
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Originally Posted by jessie007 View Post
I want to take Drive Assurance because I had stalled my car in a flooded road once (was lucky as no damage was done, as I didn't start the car while submerged in water). Damage due to unintentional water inundation is covered under Drive Assurance. Plus one gets zero depreciation, if a claim is made (haven't made a claim so far). I believe there are a few other benefits like a free tow, etc. Please advise whether the extra Rs 4000(more than 50% extra) or so is really worth it.
The Drive assurance is a complete add on package IMO. Your post shows your inclination to engine protection part only, is that right? Do you want to take the complete package or just the add on? Apart from Bajaj, HDFC Ergo also offers Engine protection as an addon. Try getting their quotes and see if they are comparable with Bajaj. Be sure to confirm other Insurers have a cashless tie up with the Fiat Workshop.
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Old 29th October 2014, 19:22   #53
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Default Re: Automobile Insurance - FAQ

I have a query. My Figo's insurance is expiring after a week. It's ICICI Lombard zero depreciation. I had one claim during the policy period. I have already renewed insurance from bajaj Allianz. Now I want to replace some parts like left rear view mirror assembly, rear bumper which are damaged or have scratches, dents caused by Mr X, Y, Z in the traffic.
Is it advisable to replace them under a claim on ICICI Insurance as I have still 1 week available and anyways I have lost NCB? What repercussions it might have?
Thank you!
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Old 29th October 2014, 19:24   #54
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Default Re: Automobile Insurance - FAQ

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Originally Posted by StepUP! View Post
I have a query. My Figo's insurance is expiring after a week. It's ICICI Lombard zero depreciation. I had one claim during the policy period. I have already renewed insurance from bajaj Allianz. Now I want to replace some parts like left rear view mirror assembly, rear bumper which are damaged or have scratches, dents caused by Mr X, Y, Z in the traffic.
Is it advisable to replace them under a claim on ICICI Insurance as I have still 1 week available and anyways I have lost NCB? What repercussions it might have?
Thank you!
If you can replace them, replace them with your old policy and not the new one. If you are able to remain accident free on the new policy, you have a chance of building on your NCB. The old one, there is no NCB anyways.
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Old 4th November 2014, 11:13   #55
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Default Re: Automobile Insurance - FAQ

Can I cancel my existing insurance and obtain a new insurance with a different company, if am not happy with the existing insurance? What would be the procedure to follow?
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Old 4th November 2014, 12:18   #56
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Default Re: Automobile Insurance - FAQ

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Can I cancel my existing insurance and obtain a new insurance with a different company, if am not happy with the existing insurance? What would be the procedure to follow?
This is an interesting question, I have not come across this one. I believe you can, but not sure how it can be done and what are the conditions. The best thing to do is contact a new service provider and ask them what is the procedure and I am sure they should help you. Keep us posted on the findings though.
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Old 4th November 2014, 15:53   #57
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Can I cancel my existing insurance and obtain a new insurance with a different company, if am not happy with the existing insurance? What would be the procedure to follow?
You can cancel the Insurance and buy a new one which would mean same investment twice in a year. Coz the present Insurance co isnt going to refund the premium amount nor the new one is going to offer lesser premium on pro rata basis.

The first step if you are not happy with the present Insurance co is to contact their customer care, then their nodal officer and finally the IRDA ombudsman if you feel cheated by the Insurance provider.
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Old 4th November 2014, 16:59   #58
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Default Re: Automobile Insurance - FAQ

I was about to renew my existing insurance from Bharathi Axa to bajaj allianz which is due in December mid.
I came to know from sales man that for Bumper to bumper insurance they need to do inspection even i renewed before the due date.
I agree as i am changing the company but he said that inspection is needed if we renew with the same company as well.

I was using comprehensive only for my earlier cars so never dealt with bumper to bumper and its new to me.

is it true that inspection is required even we renew with same company?
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Old 5th November 2014, 08:00   #59
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is it true that inspection is required even we renew with same company?
Not necessarily unless the Insurance co sees you as a high risk customer due to claims in the previous years. The same holds true when you change Insurance cos too. Normally the inspections are done when the car changes ownership and Insurance is up for ownership transfer.
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Old 5th November 2014, 08:32   #60
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Default Re: Automobile Insurance - FAQ

I am buying a Renault Duster Rxl+ in a week's time.
I am looking at insurance providers now and to be frank, am quiet confused.

As per my understanding, these are the things I should be opting for:
1) Cashless claims
2) zero depreciation

Is there anything else which I should care my thoughts to? What about the NCB retention feature? Does the clause of "max number of claims in a year" be taken seriously?

Thanks in advance.
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