[vandemanw]

Had some queries regarding claiming insurance after a car accident.

Met with an accident in BR hills. The driver side of the car has multiple dents and a large scratch extending till the rear bumper. Happened after oncoming downhill traffic grazed the driver side of my Honda city at the end of a turn.

My insurance policy is from National Insurance. It’s a 2014 Honda City CVT with comprehensive insurance. Their website mentions multi brand garages for cashless claim, but no Honda ASS in that list.

1. Would it make sense to go ahead for ASS since the lot of denting, tinkering and repainting is required?

2. If I do decide to go ahead with a non ASS garage/body shop, any decent suggestions for central Bangalore?

[asitmonty]

Originally Posted by warp_10

What is a good measure / metric folks use to decide this (especially when the amount is not too huge nor too small) ?

From purely numbers perspective, the below calculation shows that with a 7 year car, the loss of NCB over next 5 years is 4600. (9000-4400)
so, with insurance claim you lose total 4700 (including dedcutible)
with your own funds, you lose 12k.

From purely numbers standpoint, go for the insurance claim.
If I consider qualitative, potential 2nd hand buyers always assume a 10 year old car is bound to have some minor repairs. What they care more about is engine and looks during the final sale. It's impossible to convince them otherwise anyway, even if you maintain it pristine.

[warp_10]

@all, thanks a lot for the inputs. I believe I will go with the majority - to claim insurance. Also made sense that its my last year for zero deductible and my NCB taking a hit should not matter.

Originally Posted by asitmonty

From purely numbers standpoint, go for the insurance claim.
If I consider qualitative, potential 2nd hand buyers always assume a 10 year old car is bound to have some minor repairs. What they care more about is engine and looks during the final sale. It's impossible to convince them otherwise anyway, even if you maintain it pristine.

Attachment 2374324

This is so true, its just that the Trend automotives person had asked me not to go for insurance for smaller claims, I started thinking more about it (it does have some merit to it), but I was not able to qualitatively break it to say what would be a good point to tilt from one side to another.

[asitmonty]

Originally Posted by warp_10

the Trend automotives person had asked me not to go for insurance for smaller claims

Insurance representatives will always advise against claims. It's a headache for them, and because they get minimal commission on renewal, the little extra commission from a higher renewal price is not worth the headache.

Garages that are tied up with insurance don't get the full bill paid by insurance. Especially for cashless tie ups. I know this first hand because of my data analytics work with insurance companies. We see all the numbers.

What 99% people do not know is that for any General Insurance cashless claim (health, motor, courier, etc.), let's say the insurance company gets a bill of 100. They have pre-negotiated to get a certain %age discount on the bill. That discount varies from 5% to 40% depending on how desperate the provider is to get the insurance company on their charts, to get extra business through the company's insurance holders. So, for that bill of 100, the insurance company will pay between 60-95.

Sorry for the long post, but I felt this info might help some people realize that neither the Insurance company nor the Garage have your best interest at heart (sort of obvious though).

[manojmathewcm]

I too have the same confusion.
ASC quoted 20-25K for fixing the dent and painting the panels with insurance.
Got a quote of 12K from outside.

My car is relatively new - just 1.5 years old.
Attached pics of damage.

From the previous comments by members, I think it is better to go with insurance.
Will that be the right decision ?

[warp_10]

Originally Posted by manojmathewcm

I too have the same confusion.
ASC quoted 20-25K for fixing the dent and painting the panels with insurance.
Got a quote of 12K from outside.

My car is relatively new - just 1.5 years old.
Attached pics of damage.

From the previous comments by members, I think it is better to go with insurance.
Will that be the right decision ?

Definitely go with the insurance. It was like 90% of the posts advised for insurance.

Rule of thumb I understood from this is if cost > NCB discount and cost > 10-15k (I believe folks will need to adjust to their car IDV and I assume this was given for a 5-7 lakh IDV), go for insurance.