[car-dent]

I just bought a preowned car last week. The car had Third Party insurance valid till 9/9/2024 from Go digit and own Damage component from Kotak which is valid only till 9/9/2023.

Next day , I got the Rc transferred in my name and downloaded the new updated RC with my name from Digilocker as the printed RC would take a few days to arrive.

On the Same day, i gave a call to both the insurance companies asking them to transfer insurances to my name.

1. Experience with GoDigit for transfer of Third party insurance:
when i first called them, the first thing they said is that since it is a dealer bought policy, i will have to contact the concerned dealer. I stated that it is not possible for me as it is in another city. So she told me to send the updated RC to a certain whatsapp number along with a Service request number which she provided. I promptly sent it to that number.

For next 2 days, no action, even after me sending a reminder message on same whatsapp number.

I call up again after 2 days and ask them about the status. The reply i got was that since it was a dealer issued policy, i will have to get in touch with that dealer. (This statement in itself sounds so stupid, because how can a dealer make changes to a policy in companies records and the company itself cannot do those changes). I told them that i don't know the dealer and it is not possible for me to do that. She threw some rubbish about their procedure and process and all that nonsense and that if they do try to do it from their end it will take 2 weeks to process.

I simply asked them to send me over mail or whatspp explaining the process and also to confirm that till the time, the transfer is completed, will my policy be valid or void? And also, what happens in case the dealer shuts down, will my policy lapse?

In next half an hour, i recieved a mail with a link asking for a payment of some 60Rs for transfer fees and as soon as i paid it online, the updated policy in my name was recieved on my mail.


2. Experience with Kotak for transfer of Own damage Policy:

When i first called them, i was asked to send some documents like Pan Card, Aadhar Card, Old RC, New RC to their mail ID which i promptly sent.

Next 2 days, no action. on 3 rd day i recieved a mail asking me that since my policy is expiring soon, would i like to transfer along with renewal? I replied that i would just want to transfer and renewal can be compared depending on their quote. i got no response after that.

Next day, i gave them a call asking for status and they asked me to wait for their response.
one day after that, i got a call from them. The person told me that since my policy is expiring within next 15 days, they can't transfer the policy as per their rules and that i can buy a new policy. I asked him about the rule, to which he replied that policy transfer takes about 15 days and all that nonsense and since my policy is expring in less that 15 days, it will anyways expire before transfer, ao no point in transfer.
I simply asked him to mail me stating that according to their rules (please mention which rule), they can't tarnsfer my policy and i will have to buy a new policy. I also wanted him to confirm in writing whether my policy will be valid till the time they take to transfer it or cancel it because i had intimated them the same day as my car got transfered to my name. I also asked him if i bought a new policy starting today, would they refund me on prorata basis for remiang 10 or so days?

In next two hours i get an email-

"we request you to kindly provide us with duly filled and signed proposal form and no objection letter from previous owner to process on priority as policy is expiring on September 09, 2023."

Whatever happened to their rule is a mystery.

i have sent them what they asked for and am waiting for their next move.


I donot understand, why these companies make it so difficult for customers? Clearly whatever they speak on phone is all nonsense.
If i have to purchase a policy, i get a call within minutes of me entering a phone numbe ron their websites, but when we need to avail a service they want us to run pillar and post for such a simple thing as changing a name in policy.

[amalji]

We had to change the insurance ownership for my Wife's new pre-owned Toyota Yaris. The insurer is IFFCO Tokio and the broker is Toyota Insurance. I called up IFFCO Tokio customer care directly. They were very prompt and guided me on the documents required. They mentioned that the change will be reflected within 3 - 5 days. But, after they inspected my documents, they figured out that the insurance was sold through Toyota Insurance directly. So, they asked me to contact any Toyota dealership directly.

Day 0 - So, I contacted Nippon Toyota, Trivandrum. They told me that a car inspection is needed. When I told them that there are only senior citizens at home and that it will be difficult for me to bring the car for inspection, they sent a representative from IFFCO Tokio to home for inspection ( Day - 2 ). Once the inspection was done, they initiated the name transfer on the same day and we got the ownership change done the very next day ( Day - 3 ).

The whole experience from IFFCO Tokio and Toyota Insurance was very professional. Never did they rush on things and patiently listened to my constraints and gave me an alternate solution always.

[Strider24]

Thanks for sharing it. in 90% of cases the inconvenience is caused by front desk employees only. 10% case are due to company policies itself (mostly PSUs)

There are two possible explanation for this:

• Front end employees are incompetent, unwilling to help ( its in their nature or are demoralized due to low salary). Staff in account servicing have no scope for sales based incentives as such.
  
• The back-end employees are overloaded with existing service requests, so the instructions to front end ones are to delay as much as possible so that backlog can be managed. May be they are incentivized to accept less service requests.

This behavior in Indian service sector is not new. I am used to interact with public sector employees ( BSNL of the yores) since I was a teenage (in early 2000s), for telephone transfer application/bill correction/payment etc.
whenever I went there the front end office would try to deny or ask for more document/information, there my father told me to get a receiving on a Xerox copy with all queries noted on application form itself. this made them take me seriously and get the work done faster.

I guess asking for a proof of rule in writing works everywhere. be it private or public sector companies. when it comes to official communications responsible party cant mislead you like the way they do on calls.

[aayusht]

Originally Posted by car-dent

1. Experience with GoDigit for transfer of Third party insurance:

.

Originally Posted by car-dent

2. Experience with Kotak for transfer of Own damage Policy:

Hi car-dent
Thank you for sharing the experience. Quick question - am I to understand that the Third party insurance and Own damage Policy (which I believe is 1st party insurance) are better taken separately?

I was of the opinion that the insurance we renew every year covers third party as well, and hence don't need a separate one.

[car-dent]

Originally Posted by aayusht

Hi car-dent
Thank you for sharing the experience. Quick question - am I to understand that the Third party insurance and Own damage Policy (which I believe is 1st party insurance) are better taken separately?

I was of the opinion that the insurance we renew every year covers third party as well, and hence don't need a separate one.

The previous owner had a initial 1yr OD + 3yr TP package policy done from dealer. Next year he got OD component done through another provider.

Basically, it doesn't matter if you take them from same company or from different companies. Once the 3year third party policy will expire, for sake of convenience, most people take it as a comprehensive policy from same company. The cost of TP insurance component is anyways fixed depending on the engine displacement of the car irrespective of the company.

[ghodlur]

Originally Posted by aayusht

am I to understand that the Third party insurance and Own damage Policy (which I believe is 1st party insurance) are better taken separately?

I was of the opinion that the insurance we renew every year covers third party as well, and hence don't need a separate one.

Its is always beneficial to take the OD insurance and TPL insurance from the same Insurance co. Helps during any type of claims. Howeever due to whatever reason they are taken separately, the claim intimation needs to be made to both the Insurance cos.

Motor Insurance comprises of 2 components - Own Damage and Third party Liability and both are must for the vehicle for any policy year. Own Damage premium will not cover any claims arising from the 3rd party claims and vice versa for TPL.

[lsachin]

Recently, I had to transfer the insurance of my pre-owned xuv500. I had very good experience with HDFC ERGO. Everything is done online. All you need is OTP from previous owner to validate the transfer, RC copy which has to uploaded online and need to pay NCB discount amount online. That is it, received policy copy within 2 days as stated.

[car-dent]

Originally Posted by lsachin

Recently, I had to transfer the insurance of my pre-owned xuv500. I had very good experience with HDFC ERGO. Everything is done online. All you need is OTP from previous owner to validate the transfer, RC copy which has to uploaded online and need to pay NCB discount amount online. That is it, received policy copy within 2 days as stated.

The process is fairly simple with most companies. Its just that most of the times they just want to misguide to avoid and are just not willing/eager to do anything. Like, the Go digit people wanted to redirect me to Dealer uncessarily when it was a simple job for them.

[wheelspinner]

Great piece of information. Was exactly looking for this. It seems that different companies have different processes and hence varying levels of pain for the buyer.

[Aviator_guy]

I bought a used car insured by Tata AIG by the previous owner. After RC transfer was done, I had to make a visit to their office and submit transfer request by submitting new RC copy, id proof and payment for NCB recovery (small amount). Insurance records were updated after a few days and received soft copy. I wish this entire process can be made online which can save all this trouble.

[car-dent]

Update: ( Mods, please merge it with first post)

Day 3: I was asked to submit a fresh proposal form and NOC. I did it on same day.

Day 4: I recieved an email that someone will contact me for a preinspection.

Day 5. The surveyor came to inspect the car.


Day 6. I got a payment link asking for a payment of rs131. I paid it on same day.


Day 7: I got an email that all process has been done and they are working on my request and will take about 5-6 days to issue updated policy.

Day 9. I sent them a reminder to please take this on priority and expedite whatever they have to do.

Day 10: I recieved an endorsement letter stating the changes updated in policy, i.e my name and address and contact details.

Finally , the insurance policy was transferred to my name in 10 days.