Team-BHP > Team-BHP Reviews > Indian Car Loans & Insurance

View Poll Results: Your favourite?
Bajaj Allianz General Insurance Company 5 20.00%
Bharti AXA General Insurance Company 1 4.00%
Cholamandalam MS General Insurance Company 1 4.00%
Edelweiss General Insurance 0 0%
Future Generali India Insurance 0 0%
HDFC Ergo General Insurance Company 1 4.00%
ICICI Lombard General Insurance Company 5 20.00%
IFFCO Tokio General Insurance Company 1 4.00%
Kotak Car Insurance 0 0%
Liberty General Insurance 0 0%
National Insurance Company 0 0%
New India Assurance Company 5 20.00%
Oriental Insurance Company 0 0%
Reliance General Insurance Company 1 4.00%
Royal Sundaram General Insurance Company 2 8.00%
SBI General Insurance 0 0%
Shriram General Insurance 0 0%
Tata AIG General Insurance Company 2 8.00%
United India Insurance Company 0 0%
Universal Sompo Insurance 0 0%
Other (please specify in your post) 1 4.00%
Voters: 25. You may not vote on this poll

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Old 26th February 2008, 22:45   #31
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Used ICICI, service was no hassle except that getting the ownership transfer took time as their computers were always down. Claims process was smooth but car was held up for 3 working days to process final claim since surveyor always on the road and, yes, comouters were down again.
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Old 27th February 2008, 11:08   #32
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Hi Firends,

I have Ikon with my insurnace from Bjaja Allianz, when i purchased the car I paid around 16k and next year i got 20% NCB discount and paid 13k ( actually the co did not get me additional discount) now this year they says i get 25 NCB discount + 20% additional discount thus final insurnace amount is 8.5 k....

Pls. share your thoughts here( should i be getting further discounts)?... My car dealer also vouches for Bajaj for hassle free claims and free coupouns that i could get for free wash, wheel alignmnet /balancing etc...
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Old 27th February 2008, 11:28   #33
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Originally Posted by rider60 View Post
if you ask me i suggest only the government based companies, even if they lack the door step agents, online renewals and stuff, they atleast dont cheat you like the corporates do!
IMHO, stay away from New India Assurance Co atleast. I had a very harrowing experience when my Indica met with an accident. First of all, its wasnt a cashless claim. Secondly, the entire damage was around INR 75K, but they goofed up on their estimation and later reimbursed me for only INR 50K

I think TATA AIG is much better amongst the private insurers
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Old 27th February 2008, 12:54   #34
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All my cars are now insured with Reliance after much deliberating. I know a guy who gives me the cheapest insurance in town and service is personalized. Let me know if anyone in the NCR region would like help here .. IMO, ICICI has a bad reputation .. Some dealerships even cancelled their cashless tie ups due to bad payment.
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Old 9th March 2008, 16:54   #35
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VC12 deal is good one, go head, During renewal if we go with same insurance company we must bargain hard to get the best discounts.

Thats what I did last week when I renewed insurance of my 2006 registered Innova 5.76 lacs IDV and premium is 16,093/- after decent bargain and showing them quote from ICICI, TATA-AIG.

I feel if there is no claim continue with same provider and once you have to claim, next time change the insurance company because in any company you will miss NCB but you will get change of company benefits But it hardly matters once car has completed 3 years because premium would be lesser than half of what it costs as brand new car.



Last edited by ravibhat : 9th March 2008 at 16:57.
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Old 12th March 2008, 16:50   #36
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How is reliance insurance ?? Since the last eight years i'd insurance with National Insurance co. but service dealer is now insisting on reliance, i'm in a flux what to do
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Old 13th March 2008, 10:58   #37
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Stick to National Insurance/ New India/ GIC. Pvt insurers are all just after your premium after that too many fine prints. Reliance must be offering them hefty commissions to get the business and unless its a substantial rebate like 20-30% overall, dont buy. Generally, they may offer 0.5% less rate of interest if you go with their preferred insurer.
Another thing that you may consider is if you are likely to avail all the services in a particular city and stick with a specific dealer for after sales services/ repairs, then you may rely on their words, but in case, you are going to tour city to city, then it will be better to stick with a bigger player/ insurer with better network of offices.

Last edited by shatrughna : 13th March 2008 at 10:59.
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Old 2nd April 2008, 15:28   #38
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it has been 7 years already since i got car's insurance, now where should i seek for the reinsurance as i neva have much time for all these hassels and moreover what kind of insurance to go for???
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Old 5th April 2008, 05:55   #39
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Royal Sundaram is pretty much a better choice, I had good expereince with them
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Old 7th April 2008, 01:01   #40
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Default New car insurance

Any idea on how the insurance works for new cars?

I recently got a new xeta, the break-up of the on-road price for the car includes the first time insurance, premium was quoted as 9800 odd.
On delivery I see that the premium is only 8700 odd and the insurance amount is also some 15K less than the on-road price

Can i do something about it?

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Old 7th April 2008, 21:27   #41
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Default Garages List !!


I want to know how I can get to know the list of garages that have tie up with Bajaj Allianz for tata cars ? Is it possible through website ? pleae provide me the exact url if possible.

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Old 8th April 2008, 04:14   #42
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Originally Posted by xandercage View Post
Any idea on how the insurance works for new cars?

I recently got a new xeta, the break-up of the on-road price for the car includes the first time insurance, premium was quoted as 9800 odd.
On delivery I see that the premium is only 8700 odd and the insurance amount is also some 15K less than the on-road price

Can i do something about it?


Xander, Try this calculator and see if this helps..
Insurance Calculator | Calculate Your Car's Insurance Premium | Useful Tools - India
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Old 11th April 2008, 15:30   #43
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Default Fine Print in Auto Insurance - Role of a Surveyor

The Times of India - 11-April-2008 (Bangalore, Page-22)


The fine print in motor accident insurance claims

Rucha Biju Chitrodia | TNN

To the rising tribe of car owners, motor insurance is reassuring. Many, though, do not know the nitty-gritties of the claim procedure. In the unfortunate circumstance of an accident or damage, it appears, the vehicle must undergo scrutiny from an insurance surveyor, who assesses and quantifies the loss and prepares a report. Other than the terms and conditions of a policy, the release of the insurance claim amount depends heavily on this report.
An insurer can employ its own surveyor for damage under Rs 20,000. Companies TOI spoke to say in-house service engineers are employed for small claims to lower the claim amount release time.
However, in case of claims exceeding Rs 20,000, Section 64 UM of the Insurance Act, 1938, stipulates that, unless otherwise directed, the insurer must obtain a loss report from an approved surveyor or loss assessor.
Thus, in a higher claim, an independent surveyor is mandatory. Mahendra Dhruva, national president at the Institute of Insurance Surveyors and Adjusters, says the world over, this practice helps avoids bias in the loss report.
Dhruva, though, says certain private general insurance companies have started sending across their own surveyors even for losses that cross the mandated limit. This, he says, is a violation of the Insurance Act. “We have submitted written proof to both the IRDA (Insurance Regulatory and Development Authority) and the General Insurance Council about this trend.’’
While an IRDA official denies knowledge of this development, K N Bhandari, secretary general at the General Insurance Council, admits to having received a representation from the surveyors’ body. Bhandari says the allegations are not true and companies are complying with IRDA regulations. He, though, points out that insurers conduct an in-house verification of surveyors themselves. “It is a system of double check.
That is strictly according to law. (But) we are discussing the issues with the companies and the surveyors’ association. We will also have a joint meeting shortly to discuss them.’’
Dhruva says companies are resorting to their own surveyors to cut costs. “If they have to conduct 10 surveys for claims above Rs 20,000, their surveyor cost will be nothing less than Rs 15,000.
Now if they have their own employee surveyors, they can carry out hundreds such surveys in a month. Which is why private insurers employ 10-15 people to carry them out. At the same time, these in-house surveyors dictate terms to the insurer too.’’
Consumer organisations such as Ahmedabad’s Consumer Education and Research Centre and Delhi’s Consumer Voice point to disputes over underestimation of damages.
A senior insurance official too admits to “differences over issues like depreciation. The client may not agree to the amount’’.
Consumer Voice’s K L Madhok, an insurance educationist, says it is the surveyor’s responsibility to verify the ground reality of a claim.
Generally insurance companies abide by the report, although it is not binding on the insurer. “Ultimately the decision has to be taken by the insurer,’’ says the IRDA official.
Only in case of “hanky panky’’, when the company doubts a report’s veracity, does it call upon another surveyor. “Companies can engage up to three surveyors.’’
Madhok, though, emphasises that one surveyor cannot be tied with one company.H K Awasthi, also of Consumer Voice, points to another grouse — sometimes surveyors reach a site to assess the damage too late, by which time the proof of the damage has been minimised.
The Insurance Surveyors and Loss Assessors (Licensing, Professional Requirements and Code of Conduct) Regulations, 2000, clearly state that a surveyor or loss assessor shall submit his report to the insurer within 30 days of his appointment... Provided that in exceptional cases, the afore-mentioned period can be extended with the consent of the insured and the insurer.


Clear written communication from the surveyor for easy and simpler claim documentation Immediate clearance towards restoration of affected items Early disposal of salvage/ debris arising out of claim Surveyor’s competency (expertise in related fields) Discussion on documents as required by the surveyor for assessment of claim Assistance on loss minimisation Source: Sanjay Datta, head, customer service health, accident, ICICI Lombard

Mods, I did not want to create a new thread, Please post it as a new one if you feel the need, Possible discssions -
(1) Does every one know about the role of a Inhouse Vs a External Surveyor?
(2) How many tBHPians have come across a Accident claim and understood what the surveyor has done for us?(or the company)
(3) Public Vs Private insurance companies, which works by the book and can be trusted?, which bends the rules more often?
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Old 24th April 2008, 17:40   #44
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I Just got a reminder from my Tata AIG for renewal of my car insurance..

My car is a June 2007 Santro xing xo. No claims and self driven.

Here's the offer

He quoted the following offer for an IDV of Rs 2,98,768

-->Premium: Rs 8064
-->Vouchers worth Rs3000 and can be availed at any authorised Hyundai Service centres
-->He was also mentioning about a holiday package(didint get the details for this as i was busy with some work at office)

Do u guys also get such kind of offers?? or is there any catch in this?
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Old 25th April 2008, 11:49   #45
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Does anyone have any experience of getting good discounts by insuring multiple cars with the same insurer?

I currently have the renewals coming up for my Indica (Oriental Insurance due in May, 0% NCB) and Aveo (National Insurance due in July, 50% NCB). No claims for either in the current year.

I am thinking or ringing all the private insurers (except ICICI Lombard) for the best deal if I move both my cars to them. In countries like the UK, moving multiple cars to the same insurer can save nearly 20% of the total premia.

Any personal experiences to share?
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