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Old 15th November 2008, 14:13   #1
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Default Insurance renewal for bike - Liability for paid driver???

Hi all.

This is regarding 2 wheelers so do not know if this is very relevant.. Anyway renewed my insurance for the car hasslefree through Sundaram. Now for my bike I go online through Lombard. The premium is higher than what I paid last year. They have jacked the OD rate.. added Premium for passenger..(call them up they give me a story on survey done which said lots of passengers died) and a legal liability for paid driver1!!! I mean is this common.. do we keep paid drivers for bikes??

ANyway.. any suggestions on a good 2W insurer.. Sundaram??

Nimz
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Old 15th November 2008, 17:03   #2
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Originally Posted by Nimz View Post
Hi all.

This is regarding 2 wheelers so do not know if this is very relevant.. Anyway renewed my insurance for the car hasslefree through Sundaram. Now for my bike I go online through Lombard. The premium is higher than what I paid last year. They have jacked the OD rate.. added Premium for passenger..(call them up they give me a story on survey done which said lots of passengers died) and a legal liability for paid driver1!!! I mean is this common.. do we keep paid drivers for bikes??

ANyway.. any suggestions on a good 2W insurer.. Sundaram??

Nimz
go for bajaj they don't charge any loading in the basic OD premium. Chola has 20% lording on basic OD rate.

I have checked in the Chola policy i did not find any paid driver premium. There were only 2 charges in Tp 1 was basic TP (Rs. 300/-) and the other was compulsory PA to owner driver.(Rs. 50/-) - That's it.

I will checkup with bajaj and update this trend soon.

Last edited by rjvora_2000 : 15th November 2008 at 17:05. Reason: More info
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Old 16th November 2008, 01:26   #3
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Guess this is just Lombard's way of raking in the moolah.. too bad!!

Thanks rjvora. Will check Bajaj!

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Old 17th November 2008, 09:03   #4
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I have checked with bajaj and they also charge only 350 for TP same as chola. (TP + Pa to driver)
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Old 3rd January 2009, 14:50   #5
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I had renewd my insurance last week. Everytime, I renew from the dealer that I bought my bike and did the same this time. The insurance this time was from Oriental Insurance.

The fun part was that for my 125 cc Discover, the cubic capacity mentioned was 144 and my bike was mentioned to be under hypothentication with ICICI bank. I had taken a loan from then and then completed it, got it cancelled in the RC book. The photocopy of the RC that I gave had that page too.

When I questioned, the female said Sir, since you have initially taken loan ,it has been mentioned. I said there was nothing like that in last 2 policies so why should it be. Then she called up someone and then changed cc to 125 and used a whitener to erase the ICICI bank part.

Would I face any problems in case I have to claim?
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Old 3rd January 2009, 15:41   #6
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Originally Posted by arsudarsan View Post
I had renewd my insurance last week. Everytime, I renew from the dealer that I bought my bike and did the same this time. The insurance this time was from Oriental Insurance.

The fun part was that for my 125 cc Discover, the cubic capacity mentioned was 144 and my bike was mentioned to be under hypothentication with ICICI bank. I had taken a loan from then and then completed it, got it cancelled in the RC book. The photocopy of the RC that I gave had that page too.

When I questioned, the female said Sir, since you have initially taken loan ,it has been mentioned. I said there was nothing like that in last 2 policies so why should it be. Then she called up someone and then changed cc to 125 and used a whitener to erase the ICICI bank part.

Would I face any problems in case I have to claim?
I would say this is nothing else then a laziness of the employee - nothing else.

Yes you will face a problem in case of claim. because it is the insurance company who has to change the records; and not the dealer. Any person can not change the policy which is issued by an insurance company.

I will give you now a shortcut in this case. Ask your dealer to get this policy stamped where the whitener is used from insurance company. Then I think you will be safe.
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Old 3rd January 2009, 16:30   #7
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btw, can we have a list of non-loading insurers - I had a similar shock with my pulsar insurance this march when the same insurer (Iffco since 05) hiked rates!
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Old 3rd January 2009, 18:51   #8
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...I will give you now a shortcut in this case. Ask your dealer to get this policy stamped where the whitener is used from insurance company. Then I think you will be safe.
Get the correction endorsed. If not it is as good as the change being done by anyone, including you, and which will not be honored, in the event of any issues.
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Old 5th January 2009, 09:34   #9
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I have sent an email to the company asking for change in details. Hope they respond.
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Old 5th January 2009, 09:37   #10
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btw, can we have a list of non-loading insurers - I had a similar shock with my pulsar insurance this march when the same insurer (Iffco since 05) hiked rates!
Nothing like a list or anything. I just konw that bajaj is not charging anything.

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Get the correction endorsed. If not it is as good as the change being done by anyone, including you, and which will not be honored, in the event of any issues.
Endorsement's are some time time-consuming process. If insurance company make changes in the policy Manually then they just stamp and sign on that original policy it self. - That is also valid.
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Old 5th January 2009, 09:53   #11
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...Endorsement's are some time time-consuming process. If insurance company make changes in the policy Manually then they just stamp and sign on that original policy it self. - That is also valid.
Endorsement by a company = stamping the company seal + authorized sign. This is the same thing that I have mentioned.
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Old 5th January 2009, 10:31   #12
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Endorsement by a company = stamping the company seal + authorized sign. This is the same thing that I have mentioned.
I misread it what you said.
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Old 5th January 2009, 13:01   #13
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Originally Posted by arsudarsan View Post
I had renewd my insurance last week. Everytime, I renew from the dealer that I bought my bike and did the same this time. The insurance this time was from Oriental Insurance.

The fun part was that for my 125 cc Discover, the cubic capacity mentioned was 144 and my bike was mentioned to be under hypothentication with ICICI bank. I had taken a loan from then and then completed it, got it cancelled in the RC book. The photocopy of the RC that I gave had that page too.

When I questioned, the female said Sir, since you have initially taken loan ,it has been mentioned. I said there was nothing like that in last 2 policies so why should it be. Then she called up someone and then changed cc to 125 and used a whitener to erase the ICICI bank part.

Would I face any problems in case I have to claim?

Which insurance company is this? Oriental Insurance? For the past 5 years, every time I go to them to get my KL registered bike insurance renewal, they give the policy as KA
Like others have mentioned, I get that corrected and endorsed by them and have faced no issues till now.
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Old 5th January 2009, 13:43   #14
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Which insurance company is this? Oriental Insurance? For the past 5 years, every time I go to them to get my KL registered bike insurance renewal, they give the policy as KA
Like others have mentioned, I get that corrected and endorsed by them and have faced no issues till now.
Yeah it is from Oriental. Where do you do it? There is an adress given that points to Jayanagar 3rd block. Is that where you do it?
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Old 5th January 2009, 14:59   #15
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No, mine is done at malleswaram branch and everytime I am forced to go to malleswaram branch eventhough there are other branches near my home.
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