![]() | #1576 |
BHPian Join Date: Dec 2009 Location: Bangalore
Posts: 137
Thanked: 25 Times
| ![]() Am in a soup of sorts. I've been (probably spoilt) used-to car dealers reminding me when the insurance is expiring, or at-least the insurance co. sending a renewal notice. As I learnt (the hard way), they are definitely under no obligation to do so, and it is extended only as a matter of courtesy. Anyhow, I didn't renew the insurance of my wife's REVA (electric vehicle) for over a year, and realized only while renewing my other car's policy, as we found it's expired policy document. That was the start of a struggle, because having filed online requests with umpteen private insurance cos., I've got only one response, i.e. from ICICI Lombard, who have quoted a rather steep figure for a very low IDV. Other don't respond, and TATA AIG told point blank that they don't do insurance for REVA. My only hope is IFFCO TOKIA, through whom I had the previous (expired) policy. They don't respond to emails, web-based forms requesting-quote (online buy option isn't there), and calls to their bangalore office go unanswered. Now the question is, is there any kind of directive/regulation from IRDA that mandates Insurance cos., to atleast give Third-Party insurance, if not comprehensive insurance ? Govt / police / RTO won't allow me to drive without an insurance, and no insurance co. is willing to give me an insurance (under reasonable terms), does it mean I've got a little white-elephant here ? Looking for thoughts / suggestions or information about IRDA's regulations. Tried searching thru their site, but didn't find anything (so far). cheers, BDutta |
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![]() | #1577 |
BHPian ![]() Join Date: Aug 2004 Location: Thane(Mumbai)
Posts: 118
Thanked: 8 Times
| ![]() I have Tata manza, aura abs qudrajet, and got a quote for Rs18200/- approx from Tata Aig, 0 Dep, Daily allowance, Hotel expenses, towing plan. Is it good ? should I go with it? I got 20% NCB included in the above quote. car purchase - 23 july 2010. |
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![]() | #1578 | |
Senior - BHPian ![]() | ![]() Quote:
Have you tried getting quotes from other Insurers too or are you firm on going with Tata AIG/ | |
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![]() | #1579 |
BHPian ![]() Join Date: Aug 2004 Location: Thane(Mumbai)
Posts: 118
Thanked: 8 Times
| ![]() incase of any car mishap outside mumbai, they will reimburse me the expenses on hotel stay as the vehicle can not run. Also, for hiring another vehicle to reach my destination/residence back from accident point. and I am also in talk with berkshire hathaway (agent Bajaj Insurance) for same kind of plan , they are quoting 13k for normal insurance, and will be telling me price for 0 dep plan today. |
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![]() | #1580 |
Senior - BHPian ![]() Join Date: Mar 2009 Location: Bombay, London
Posts: 1,148
Thanked: 740 Times
| ![]() Hi, My car's insurance needs to be renewed early next month. Mine is a July 2006 Honda Civic S-MT that I bought last year. I got it insured with Tata AIG after I transfered my 65% NCB from my other car. As a result, with an IDV of 7L my premium was around 9K. But I had to claim insurance after my car met with an accident. Now when I called up Tata AIG to get a quote I was told around 26K. This is shocking to say the least. Considering a 10% depreciation of 10%, I'd think the IDV would be around 6.3L. What should be the premium amount? |
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![]() | #1581 |
BHPian ![]() Join Date: Nov 2006 Location: New Delhi
Posts: 600
Thanked: 120 Times
| ![]() My Punto's renewal is due at the end of this month. The IDV being quoted is 4.65 - 4.75 lakhs (this is for a July 2009 1.3 MJD E-pack). The existing policy is with Bajaj Allianz and they are quoting 18k for renewal. This is daylight robbery considering I paid 11k last year and although I filed a claim, it shouldn't mean the premium should skyrocket like this. Note that last year also I had no NCB on my policy. Any suggestions for what the likely premium should be, so that I can negotiate with Bajaj or others? |
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![]() | #1582 | |
Senior - BHPian ![]() Join Date: Mar 2009 Location: Bombay, London
Posts: 1,148
Thanked: 740 Times
| ![]() Quote:
Looks like they are trying to recover the insurance claim damages made last year in this year's premium. I did try Tata AIG, for the same IDV their quote is around 17K. Last edited by hiren.mistry : 17th June 2011 at 12:40. | |
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![]() | #1583 | |
BHPian ![]() Join Date: Nov 2006 Location: New Delhi
Posts: 600
Thanked: 120 Times
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![]() | #1584 |
Distinguished - BHPian ![]() Join Date: Sep 2010 Location: All over!
Posts: 5,421
Thanked: 8,996 Times
| ![]() Iffco Tokio is decent; I have their policy for my Corsa. No eventuality of claiming Insurance yet, thankfully, but at least renewal etc. is hassle-free. Renewal can be easily done online. Various charges and discounts like automobile club membership, NCB etc. too are properly mentioned. |
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![]() | #1585 | |
Distinguished - BHPian ![]() ![]() Join Date: Apr 2010 Location: Pune
Posts: 2,941
Thanked: 3,095 Times
| ![]() Guys, any advice on this: Quote:
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![]() | #1586 | |
Senior - BHPian ![]() Join Date: Mar 2009 Location: Bombay, London
Posts: 1,148
Thanked: 740 Times
| ![]() Quote:
I just tried HDFC Ergo and they seem their quote seems to be the lowest by far, around 13K. Has anyone tried them? | |
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![]() | #1587 |
Senior - BHPian ![]() | ![]() @Selfdrive The zero % depreciation is a good add on option provided by a very few Insurers. God forbid but if you were to meet an accident, the amount to be shelled out from your pockets is a great put off. Imagine paying 15K from your pocket (just an example) for repairs is heart wrenching, but with the zero % add on the whole repair tab is picked up by the Insurer. Does the 5K look meagre in front of this amount? Think about it. I feel this option is a must for every new car owner. See this thread for real life example. http://www.team-bhp.com/forum/indian...worked-me.html |
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![]() | #1588 |
BHPian ![]() Join Date: Jun 2011 Location: Mumbai
Posts: 651
Thanked: 301 Times
| ![]() I have an existing car (with NCB of 45%) in my name. I wuld be shortly buying a new car (sedan) where the cost of insurance is likely to be between 25k to 30k. Is there a way I can transfer my NCB from existing car to my new car and save some premium? I would not be selling my old car as it would still be used in the family. Can I transfer my car in say my wife's name and then use the NCB. Since the car is nearly 6 years old the insurance premium is not that high. Experts please advise. |
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![]() | #1589 | |
Distinguished - BHPian ![]() Join Date: Sep 2010 Location: All over!
Posts: 5,421
Thanked: 8,996 Times
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![]() | #1590 | |
Senior - BHPian ![]() | ![]() Quote:
There is no issue in keeping the car in your name itself. Only cancel the Comp insurance and get your NCB Certificate along with refund of the premium fotr the remaining period (if claims free year and I think more than 60 days remaining ). Buy a TP Insurance or a New Comp Insurance for the old car. Use the NCB to buy Insurance for the new car. If you use same insurer they may even give you a "fleet" discount (not sure if this is the case in India) Best Regards & Drive/Ride Safe Ram | |
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