[ghodlur]

Originally Posted by itsashishsharma

Today I just talked to the Claim Manager (ICICI Lombard) and I am told that as Car is from outside state, they are not getting good value for it in the market and hence, they would be paying lesser than the IDV, about 23000. It is Rs45000 lesser than the IDV.

Ashish,

The IDV quoted by ICICI - can you cross check with them whether this is pro rata IDV as I assume that you must have renewed the policy with 2.75L IDV some time back. If so then confirm the above. Also confirm who will be getting the salvage selling cost?

Stick your foot firmly when dealing with ICICI, they are known to take customers for ride when dealing with total loss cases.

[itsashishsharma]

Originally Posted by ghodlur

Ashish,

The IDV quoted by ICICI - can you cross check with them whether this is pro rata IDV as I assume that you must have renewed the policy with 2.75L IDV some time back. If so then confirm the above. Also confirm who will be getting the salvage selling cost?

Stick your foot firmly when dealing with ICICI, they are known to take customers for ride when dealing with total loss cases.

Thanks for the response buddy.
Yes, I will cross check if it was a pro rata IDV. Insurance was renewed in July last year, so if it is pro rata based, probably it is one reason that the quoted amount is low.
Also, what is salvage selling cost?

[ghodlur]

Originally Posted by itsashishsharma

Also, what is salvage selling cost?

Since the car is totalled , it will have to be sold in scrap, the amount which you would recover from that is salvage cost. Generally Insurance co do offer an IDV and give the option of balance cost recovery through salvage. Sometimes they offer to give the complete IDV but keep the salvage cost to themselves where they would take pains of finding a scrap dealer and selling it.

Just ensure that the RC formalities are taken care of when declaring the total loss. Get the Insurance written off too.

[Prash22]

Dear BHPians,

Need suggestions please. I have booked a XUV W6 facelifted version and the Showroom quotes ~53K for zero dep insurance.

New India Insurance has quoted 38,500
ICICI Lombard has quoted 38,597
HDFC Ergo - Still waiting

Since the premiums are pretty much the same, which one of these would be a better option in terms of services, cashless claims, network, road side assistance, ease of claim, any other parameters? Thanks

[itsashishsharma]

Originally Posted by Prash22

Dear BHPians,

Need suggestions please. I have booked a XUV W6 facelifted version and the Showroom quotes ~53K for zero dep insurance.

New India Insurance has quoted 38,500
ICICI Lombard has quoted 38,597
HDFC Ergo - Still waiting

Since the premiums are pretty much the same, which one of these would be a better option in terms of services, cashless claims, network, road side assistance, ease of claim, any other parameters? Thanks

ICICI Lombard is just ok for usual claims but haggle a lot in total loss cases. My car got wasted in a horrible accident 3 months back and I am yet to get any money from them, may take 2 weeks more.
My friend's experience with Tata AIG was excellent. I don't know much about insurances but would suggest you to google about Tata AIG user reviews.

[ghodlur]

Originally Posted by Prash22

Since the premiums are pretty much the same, which one of these would be a better option in terms of services, cashless claims, network, road side assistance, ease of claim, any other parameters?

The best people who can give feedback about the shortlisted Insurance co are the workshop where you intend to service the car. The one's you have shortlisted, do they have a cashless tie up with the workshop? If not then try getting quotes from those Insurance co only which do have the tie up. The quotes which you have mentioned - are they online quotes or through agent/dealer?

[Prash22]

Originally Posted by ghodlur

The best people who can give feedback about the shortlisted Insurance co are the workshop where you intend to service the car. The one's you have shortlisted, do they have a cashless tie up with the workshop? If not then try getting quotes from those Insurance co only which do have the tie up. The quotes which you have mentioned - are they online quotes or through agent/dealer?

Sure, let me check thanks.
The online quotes are lesser by 3k to 5k of what I have mentioned but probably goes with a lot of assumptions like 1 claim a year and does not specifically talk about the IDV.

[AkMar]

Currently we are going through a bad experience with Tata AIG. We logged a request for NCB certificate for our current car on 29th May 2015. In the week that followed, they kept on telling us that it has been dispatched through courier. And then one fine day the reply changed! The person on the helpline started saying that we have to send a mail to them requesting NCB. We were If this was the procedure, then on what basis were they claiming that the certificate has been dispatched?

We still do not have the NCB sertificate, more than 15 days after requesting for it. End result - delivery of our new car has been delayed due to this as the car cannot be registered. It is turning out to be a frustrating wait

[ghodlur]

Originally Posted by AkMar

We still do not have the NCB certificate, more than 15 days after requesting for it. End result - delivery of our new car has been delayed due to this as the car cannot be registered.

Why is the new car waiting on NCB certificate? While buying Insurance for the new car all you have to specify is the NCB %. You can buy the Insurance for the new car and only in case of any claim in the policy year, you will have to furnish the NCB certificate. I am sure by that time you would be having the NCB certificate with you.

Have you provided all the documents required for the NCb certificate such as RC change, Insurance change etc. Generally Insurance co ask them to issue the NCB certificate and they do it on the spot. Probably you must have been wrong information about the NCB certificate despatch by the BPO team.

[geotracks]

My Honda City car insurance is up for renewal. Last year I purchased Peral Plan (0 depreciation) insurance from Tata AIG.

This year when I am trying to renew the Pearl Plan with Tata AIG, the insurance premium quoted is actually Rs. 200 more than last year, while the IDV has become less approx. Rs. 70K.

When asked why is the insurance premium increased for the same car when IDV is less this year, I was told:
(i) 3rd party insurance amount has been raised by all insurance Companies.

(ii) I was also told that the Pearl Plan which is a Rs. 0 depreciation plan has been increased by approximately Rs. 2K. The explanation given is that Tata AIG gives Rs. 0 depreciation plan options for vehicles up to 5 years only and the rate increases each year up to 5 years.

Any comments / suggestions would be helpful.

[ameyawaghmare]

Originally Posted by geotracks

(ii) I was also told that the Pearl Plan which is a Rs. 0 depreciation plan has been increased by approximately Rs. 2K. The explanation given is that Tata AIG gives Rs. 0 depreciation plan options for vehicles up to 5 years only and the rate increases each year up to 5 years.

Any comments / suggestions would be helpful.

This response might be late but relevant. I did go through hassles of insurance recently and after an accident in Feb-end this year, I have tried to get out maximum possible information regards to insurance from the workshop where car was serviced.

The company is completely right on the point of zero depreciation. The question I have is why do you wish to stick to Tata AIG in the first place? In case of no claims, every insurance provider would like to offer you discount.

I tried posting my query on insurance renewal 45 days in advance on PolicyBazaar and phone calls from their sales rep really helped a lot. Almost 30 days in advance, I got a superb discount on New India Assurance Company and the insurance start/end date was based on what I chose. Last year, I paid around 9k towards insurance due to delay on my part and this year I paid 5.4k for insurance by purely being pro-active!

Hope this helps in future.

[geotracks]

Originally Posted by ameyawaghmare

This response might be late but relevant. I did go through hassles of insurance recently and after an accident in Feb-end this year, I have tried to get out maximum possible information regards to insurance from the workshop where car was serviced.

The company is completely right on the point of zero depreciation. The question I have is why do you wish to stick to Tata AIG in the first place? In case of no claims, every insurance provider would like to offer you discount.

I tried posting my query on insurance renewal 45 days in advance on PolicyBazaar and phone calls from their sales rep really helped a lot. Almost 30 days in advance, I got a superb discount on New India Assurance Company and the insurance start/end date was based on what I chose. Last year, I paid around 9k towards insurance due to delay on my part and this year I paid 5.4k for insurance by purely being pro-active!

Hope this helps in future.

Thanks of the info. That certainly is helpful but like you said, wish I had seen these helpful suggestions / tips earlier.
e.g. I never even thought of PolicyBazzar, never occurred to me.

I did call up a couple of Insurance Companies on my own like Baja Allianz etc. but even with the NCB, their premium was slightly higher than what Tata AIG was quoting.

[stanjohn123]

My current insurance is with reliance for my 2012 Fluidic Verna ( 15,000 Km ) which is about to expire in 2 weeks time. I've posted the different quotes below all for 0 Dep policy. Kindly advise which is best.

1) Reliance - 22,485 Rs ( IDV - 5,86,619 Rs )

2) Tata AIG - 24,656 Rs ( IDV - 6,30,000 Rs )

3) Baja Allianz - 24,377 Rs ( IDV - 6,80,000 Rs )

[ghodlur]

Originally Posted by stanjohn123

My current insurance is with reliance for my 2012 Fluidic Verna ( 15,000 Km ) which is about to expire in 2 weeks time. I've posted the different quotes below all for 0 Dep policy. Kindly advise which is best.

1) Reliance - 22,485 Rs ( IDV - 5,86,619 Rs )

2) Tata AIG - 24,656 Rs ( IDV - 6,30,000 Rs )

3) Baja Allianz - 24,377 Rs ( IDV - 6,80,000 Rs )

Two things you need to confirm before you finalize:
1) Whether the above Insurers have a cashless tie up with the workshop where you service your car
2) Is the IDV correctly calculated? Looking at the different IDV values quoted by Insurers, you will need to confirm what is the correct IDV. Based on that you can get the quotes and compare.

Just a suggestion: Keep away from Reliance, there are too many horror experiences reported with them.

[stanjohn123]

Originally Posted by ghodlur

Two things you need to confirm before you finalize:
1) Whether the above Insurers have a cashless tie up with the workshop where you service your car
2) Is the IDV correctly calculated? Looking at the different IDV values quoted by Insurers, you will need to confirm what is the correct IDV. Based on that you can get the quotes and compare.

Just a suggestion: Keep away from Reliance, there are too many horror experiences reported with them.

1) Will have to check with Tata AIG regarding the cashless tie up , the other 2 have it.
2) How can I find out what is the correct IDV value for my car ?. They keep telling a min. and max. amount and vary the premium based on the different IDV value.

Thanks for your input.