![]() | #1591 |
BHPian ![]() | ![]() My car insurance (2007 Verna) is due next week. For an IDV of Rs. 566915 Bajaj Allianz (my current insurer) is charging me 12,083 as the cost. It includes 45% NCB while for the same IDV Tata AIG is charging 8000 odd. I know it is a No-brainer. But I had changed my car registration in the current year (Bajaj is yet to update its records) though I have sent them the details. Will I face any issues if I quote the new registration number with Tata AIG? Please let me know. Last edited by DWind : 18th June 2011 at 16:51. |
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![]() | #1592 |
BHPian ![]() Join Date: Oct 2007 Location: Shorapur
Posts: 347
Thanked: 58 Times
| ![]() I logged on to the TATA AIG website couple of days ago for renewing the insurance for my i20 which is due on 12th of july and left my contact details there on the website. Later I got a call from one of the TATA AIG call centre guys and he was pestering me to buy the policy from their company even though he was not aware with the finer details of the policy. He even tried to tell me that I am not able to understand what he is trying to tell. At the end of the conversation he was rude and i simply hung the phone. In fact though they say that the policy is going back to invoice policy where in one can get the complete invoice value of the car if it is stolen or goes in for a total loss. However the sales executive is not able to explain why they have mention the IDV of my car as Rs. 5,50,000/- even though my car's invoice value is Rs. 7,20,000/- I personally feel that TATA AIG is not transparent enough and they are not able to justify almost double premium which they charge for the going back to invoice policy. Moreover they will never honour your claim or they will make you run around when the time for settlement of the claim comes. I have even seen workshops displaying boards that they will not undertake the damage repair works for the cars insured with TATA AIG and when questioned I have been told that they are very reluctant to settle claims and the labor charges they pay is far less than the existing labor charges. Moreover the fact that no other insurance company has come up with such a policy despite stiff competetion in the car insurance business goes to show that there are few takers for such policy and moreover the terms and conditions of the said policy are such that making a claim for the invoice value will become impossible. |
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![]() | #1593 | |
BHPian ![]() Join Date: Jun 2011 Location: Mumbai
Posts: 651
Thanked: 301 Times
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![]() | #1594 |
Senior - BHPian ![]() | ![]() Hello, I am considering buying a used car which has it's insurance expired.In this case how can i proceed with renewing the insurance.I won't be able to renew the insurance since car is not in my name so how can i proceed. One the posts i think you have mentioned that i can send a letter to the insurance co. that i will be transferring the car to my name.Will the current owner need to sign the same. |
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![]() | #1595 | |
Senior - BHPian ![]() Join Date: Mar 2009 Location: Bombay, London
Posts: 1,148
Thanked: 740 Times
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Bear one thing in mind, the new vehicle should be of the same segment as the old car to make much sense of the transfer. BA call center agent has agreed that this transfer from Esteem to Civic is very much possible but later on when the local branch contacted me, they much a big hue and cry. But after much cajoling and convincing they gave in and I got my Civic insured for only 8.5K odd with an IDV of 7L (2006 model). Best bet would be to contact multiple service providers and chose the one that gives you the best quote and conditions. Regards | |
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![]() | #1596 | |
Distinguished - BHPian ![]() Join Date: Sep 2010 Location: All over!
Posts: 5,421
Thanked: 8,996 Times
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The current owner's signature is not required if the RC bears your name. | |
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![]() | #1597 |
BHPian Join Date: Aug 2009 Location: New Delhi
Posts: 58
Thanked: 40 Times
| ![]() Just saw a big crack on the Windscreen of my i20, which is in a parked position for over a week. :( Even worse , I had a 3M CR70 sunfilm installed on the windshield when i bought the car. Guess its money down the drain now. I have a TATA Aig policy up for renewal in mid August.(For glass - nil deduction) Need members help on 1. Expected Cost of replacement and time taken. 2. Own fund Vs insurance , better choice. (No claim till date for 2 years). Windscreen replacement impacts NCB? |
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![]() | #1598 | |
Distinguished - BHPian ![]() Join Date: Sep 2010 Location: All over!
Posts: 5,421
Thanked: 8,996 Times
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You could get it changed at Hyundai A.S.S. or Windshield Experts. WE would quote a lower price. Insurance will reimburse the ENTIRE amount of the windshield, at both WE and A.S.S. You will just have to pay for labour and the adhesive - this should be around 700-800. How old is your car? If you claim Insurance, you will lose NCB. So, check the amount of NCB and then take a call if it would be better paying it yourself or claiming Insurance. Going by your post, assuming the car is 2 years old, it might be better to pay the amount yourself. I would strongly advise you to get it at WE though. Last edited by libranof1987 : 20th June 2011 at 16:07. | |
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![]() | #1599 | |
BHPian Join Date: Aug 2009 Location: New Delhi
Posts: 58
Thanked: 40 Times
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WE has quoted cost of Rs 4750 all inclusive and 2.5 hours if self paid. In case of insurance, 860 to be borne by me, rest they will take care but it takes 5 hours to 1 day for approval from Tata AIG. My NCB benefits are to the tune of 2500 bucks as of now. | |
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![]() | #1600 |
BHPian ![]() Join Date: Feb 2011 Location: Navi Mumbai
Posts: 376
Thanked: 230 Times
| ![]() Guys, The insurance policy of my Beat LT is due on 9th July 2011. I went to policy bazar .com but it does not give quotations for Beat. The current insurance amount is around 13.3k. Any suggestions? There hasn't been any claim as of now |
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![]() | #1601 | |
Distinguished - BHPian ![]() Join Date: Sep 2010 Location: All over!
Posts: 5,421
Thanked: 8,996 Times
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I think you should just pay yourself and be done with it. From personal experience, claiming Insurance et al will take about 5 days. Imagine your other travelling costs since your car wouldn't be available (assuming this is your only car). Spend a few hours, a few thousand bucks and get the car back to original shape. ![]() | |
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![]() | #1602 | |
Distinguished - BHPian ![]() ![]() | ![]() Quote:
WE service also differs from location to location. They did my windshield a couple o' weeks back. Took 3 hours tops. "chat mangni, pat byah" I only paid for the sealant. All you need is a photocopy of your license and RC. he'll even do the claim filing . | |
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![]() | #1603 |
BHPian ![]() Join Date: Aug 2004 Location: Thane(Mumbai)
Posts: 118
Thanked: 8 Times
| ![]() But, the purpose of taking Insurance is to save one from sudden outflow of money, and hence if a person does not claim, lets suppose Rs4000/- thinking that he will save some money via NCB and his bad luck is such that after 1 month , he meets with accident which is bigger then earlier and estimates are in range of Rs.40k and above, how is he going to look smart now if you look at his decision of not going for Rs4000/- claim and now claiming for Rs40k + and still losing NCB bonus?? I mean , how can any one predict that there will be no bigger claims in future and can take risk of not claiming?? I think its better to take risk as paying the (non-ncb bonus) insurance premium then not claiming thinking that he will save money via NCB bonus, as it defeats the basic purpose of taking an insurance. (just my thought , Sorry if it sounded harsh :( ) |
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![]() | #1604 | ||
Distinguished - BHPian ![]() ![]() | ![]() Update on this: I got a reply from my insurance company that they will *not* be able to upgrade me. Specific wording: If the Policy is Comprehensive. we cannot add Zero Dep add on cover in between the policy period. Only we can do that {sic} at the time of renewal we can take the policy with Zero dep cover. Waiting for my insurance advisor to confirm on this, but looks like I am stuck with this policy with 6 months to go before renewal. Quote:
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![]() | #1605 | |
Distinguished - BHPian ![]() ![]() | ![]() Quote:
why? specifically, what risk is there in not claiming? Not claiming is decided more or less by your own driving style. The odds are decently in favor of a person who has passed 11 months, maybe 23 or 35 months without a claim to be able to pass one more month without instigating an accident. you may say that someone else may bash into him, but then that is entirely an independent variable. one can only make a decision based on what one can control, aint it? but yes, i do understand that one should draw the line when the cost of repairs approaches close to any NCB benefit, then they should file a claim | |
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