[niki9009]

Originally Posted by RJK

Well, from my recent claim experience less than 2 weeks ago, I can say which insurance NOT to go for - That is Future Generali.

Couldn't Agree more the surveyor only looks at how they can reject/minimize claims. In the end I ended up spending 20k out of pocket in a claim I did last month. Took this insurance from the dealer when I bought my car. Will never again do business with Future Generali.

[Acid Burn]

Originally Posted by any23

I think enough is enough, needs advice from experts-

..

I am in the same boat as you only difference is that the insurer is HDFC Ergo.

I purchased the insurance through NBS International authorised dealership of Mahindra.

Today i have received a call that the insurance cannot be issued as there is some issue with the server and the amount will be refunded back to me.
I am wondering if there is some kind of scam going on here where money is taken but policy is not issued.

[straight6]

Hi guys I had got ms chola insurance with my dzire in 2020 which was 1st year comprehensive and then 3 yrs 3rd party. Can I get comprehensive again since it expired after 1st year? Policy bazaar doesn't give me the option.

[HotChillyPepper]

Originally Posted by straight6

Hi guys I had got ms chola insurance with my dzire in 2020 which was 1st year comprehensive and then 3 yrs 3rd party. Can I get comprehensive again since it expired after 1st year? Policy bazaar doesn't give me the option.

Call policybazaar customer support. They will help you out to complete the process.

[hagarthenormal]

I checked the claim settlement ratios for 2021 here - https://www.insurancedekho.com/car-i...india-2021.htm where IFFCO TOKIO is leading the list.

So, am voting with my wallet here for IFFCO TOKIO, for my new Ciaz whose delivery is expected in a couple of days.

This is the quote I received from the dealer this morning:

===
IFFCO TOKIO
Add-on Cover: ZD EP RTI CONSUMABLE KP RSA
NCB: 0%
Gross Premium: Rs. 35211
====
Other quotes from the dealer:

Universal Sompo : Rs 32010
SBI General : Rs 36566
HDFC Ergo : Rs 37856
ICICI Lombard : Rs 37928
TATA : Rs 38690
===

I did not bother to negotiate as the online quotes from those insurance providers are no better than what the dealer is offering.

[anaghp]

The own+third party insurance is due for renewal for my 2019 Octavia 1.8TSI L&K. The default maximum IDV value as per depreciation is somewhere around 16 to 17 lacs. I always ask for maximum IDV. Royal Sundaram, HDFC Ergo and Bajaj Allianz have agreed to increase the IDV to 19 lacs (It is 20 lacs in my running policy).

If the car is totalled, they will have to pay the full 19 lacs, right? All of them said that they would, but the guy from Tata AIG said he cannot increase the IDV to more than what is recommended, and said something about the IRDAI rule and how Royal Sundaram, HDFC Ergo and Bajaj Allianz might not pay the full amount.


Questions:
1. If the IDV value mentioned in the insurance is 19 lacs, is there any legal loophole that they can use to say that they will only pay 16 lacs because that's the depreciated value?
2. Do you think I should stick to the default 16 lacs IDV?

It'd be great if anyone with knowledge in this area can help me out.

[anti21]

Originally Posted by anaghp

If the car is totalled, they will have to pay the full 19 lacs, right? All of them said that they would, but the guy from Tata AIG said he cannot increase the IDV to more than what is recommended, and said something about the IRDAI rule and how Royal Sundaram, HDFC Ergo and Bajaj Allianz might not pay the full amount.


Questions:
1. If the IDV value mentioned in the insurance is 19 lacs, is there any legal loophole that they can use to say that they will only pay 16 lacs because that's the depreciated value?
2. Do you think I should stick to the default 16 lacs IDV?

It'd be great if anyone with knowledge in this area can help me out.

The maximum liability as per IRDAI is the depreciation value which is determined via standard depreciation chart for up to 5 years. Attaching link for same which says that.

If we assume the car's ex-showroom price was 23.59 lakhs, and the age of your vehicle is between 3 and 4 years, the depreciation value applicable based on 40% depreciation will be 23.59*0.6 which comes out to be 14.15 lakhs. No Insurance provider is going to give you more than this amount in case of Total Loss claim even if you insure it with let's say 20 lakhs IDV. Therefore, it doesn't make sense to get more than the official depreciated IDV value.

If your car is older than 5 years, then the rate of depreciation is to be decided between insurer and vehicle owner.

So what Tata AIG person is saying is correct.

Instead ask if they can provide you the add-on Return to Invoice cover. Some insurance providers provide this for up to 5 years old vehicle. In case of Total Loss claim, this add-on will cover the difference between IDV and the ex-showroom price of your car (in some cases RTO and Insurance costs are covered too, depends on vendor).

In summary,
1. You will not be paid more than the IDV value based on depreciation chart no matter what your IDV is for vehicles up to 5 years old.
2. Yes, and see if you can get Return to Invoice cover.

[Sen]

Any member reviews for Edelweiss car insurance? They're relatively new to the market from when I remember buying the car too. Is it going to end up biting me with rejected claims etc like Digit? Or are they established and good with their service? Any suggestions welcome.

[redcruiser]

Can someone throw some light on the meaning of IDV on electrical/non electrical accessories here.
How to know what should be the IDV in the first place?
Is it really worth adding into my new car insurance cover?

[anish]

I am looking to buy insurance for a pre-worshipped BMW that I am purchasing this week. From what I could gather ICICI/IFFCO Tokyo seems to be the recommended insurance service provider for BMW in Gurgaon/NCR.
Would be great if existing BMW owners can share their experience with these insurance companies. Also, is there any insurance policy that covers tyre damages in BMW ?

[BrokenHW]

Hyundai Motor India in FY22 ventured into the insurance segment of business through Hyundai India Insurance Broking Private Limited

Source : https://www.autocarpro.in/news/hyund...-market-103130

[MT_Hyderabad]

I don't have any specific choice of insurance company.

If I am comfortable with the IDV being offered, I take the insurance from whosoever quotes least.

If IDV offered is less, I pull it to what I need and choose the insurer who is offering the least quote for that IDV.

[subraiyr]

Hi Folks

I have a very dumb question. I have a insurance policy with ICICI Lombard for my Jeep. It is 1 year own- and 3-year 3rd party. Now the policy is due for renewal. Was taken in Dec 21.

1. Should i go for only own insurance given that 3rd party is still available till 2024
2. If so, will i have to hold both the insurance documents and does it get transferred onto the renewed policy.

The above is assuming i take it with the same firm

3. If i were to go with another firm, how would it work?

Thanks in advance for your inputs

[pineapple_ameet]

Hi Fellow BHPians!

It's that time of the year again for me!

I switched from acko to digit last year as I was getting a better deal for my 6+-year-old honda CR-V (for Zero Dep).

This time I'm getting inclined towards Royal Sundaram as they have a whopping 98% successful claim rate as per their website, however despite the best try even from their very persistent sales team, there's a 5K difference between what I'm getting from digit insurance vs RS (digit being cheaper).

I'm getting 30K quote from digit for Engine + Gear Protect + Key with Zero Dep protection, while RS is quoting 35K for the same, with an additional benefit wherein If I want to get only the windshield replaced, I can do so without affecting NCB.

I would want to know from you, how has been your claim experience with Digit, as so far, I've not got to experience their service (touchwood!).

I'm clearly more inclined towards RS cus of their equity and success rate, however, if there aren't many negative reviews on digit, I don't mind continuing with them too...

Thanks in advance for your help!

Drive Safe!

[magic.dwarf]

I have purchased a pre owned tata hexa on 19 december 2022. And the vehicle ownership was transferred and new rc was issued to me on december 24 2022. The insurance policy was from new india assurance and was valid till april 2023 and hence i decided to get the insurance policy transferred to my name.

I went to the insurance company's branch office near my home and they refused to do anything about the same saying they can't do anything since the policy is taken through an online site called coverfox. I have contacted the site guys through their help desk and through email and had to encounter the worst experience i have ever had when it comes to dealing with so called customer care centers. They were either always too busy and was unable to get connected on call and on those rare instances when the call was connected, the behavior of those guys were rude and not helpful. None of the queries from my side was answered correctly and the behavior was totally disrespectful. The guys were trying to make me take a new policy instead of transferring the policy to my name.

I really don't understand why companies like the new india assurance allow these middlemen like coverfox to issue policies if they can't support the customers when they get policies through them. The car is currently sitting idle at home because the rc book has my name and the insurance policy has previous owner's name, and i don't want to take it to road and face some unfortunate incident. The coverfox guys are now asking a time of one week to ten days from now for the process. Since i have some important family commitments I cant really spend more money and take a fresh insurance from elsewhere at the moment and all I can do is to wait and hope these guys sort out this issue. There is no way I will ever take service of such online insurance people anytime in the near future or let anyone from my social circle do the same.