Team-BHP - Automobile Insurance Queries? Ask me

Quote:

Originally Posted by gaddiwale

My Ritz VDi (Dec, 2009) is up for renewal of insurance, got three different quotes -

1. ICICI Lombard (Through Maruti Dealer) - IDV: 347,959; Premium: 7,067/-; 35% NCB (when I checked directly to ICICI Lombard to renew this policy online.. showing policy no is wrong)

2. ICICI Lombard (online) - IDV: 441,011; Premium: 10,420

3. Royal Sundaram (online) - IDV: 439,200; Premium: 7,732

Do you think I should go with Royal Sundaram. I do not understand why the policy no. is not matching when entering in the ICICI Lombard site and the low IDV quoted by the Maruti Dealer.

Should be fine to go to Royal Sundaram. You should also check Bajaj Allianz & HDFC Ergo. And one thing, there should be a min 10% decrease in IDV value from last year's value, do check that while buying online.

Quote:

Originally Posted by MCR (Post 2558092)

Is there a IRDA regulation which specifies the depreciation on the value of car?

My Insurance is up for renewal and the IDV quoted by Bajaj Allianz is 4,72,000/-.
While taking a quote from ICICI Lombard and HDFC Ergo, the IDV was mentioned as 4,03,290/-. When I enquired about the lesser IDV, they told it was as per IRDA and any higher IDV would be illegal. Also they informed me that it would be very difficult for me make a claim when the IDV is as not as per IRDA rules.

Can somebody throw some light on this please? Also how is HDFC Ergo compared to Bajaj Allianz?

Renewed the Insurance with Tata AIG and got the Silver pack. A special premium rate was offered which also covers the car bumper to bumper. The IDV of the vehicle is Rs.4,16,xxx/- and the premium is Rs.98xx/-.

Guys,
I have a strange situation . Have to renew my insurance. It's insuranced with Future Generali.The IDV was 4,46,724 and the total premium was 91xx for the first Year.

I Got a quote from them today ,its stated IDV at 4,02,052 (10% dep) but the total premium went up to Rs. 104xx :Shockked:.
How can the total premium go up. I had no claims for the First Year.

Quote:

Originally Posted by Ravi Yadav (Post 2564428)

It can go up for a variety of reasons. Some of them being:

1. FG may have had lots of claims so they now use a higher index to calculate premium
2. Have you checked if all the other criteria are same? Like - no. of passengers insured, PA cover, LL cover etc.

Quote:

Originally Posted by Ravi Yadav (Post 2564428)

Send them a mail care@futuregenerali.in and ask for a clarification as to why the premium has gone up in the absence of claims. I've renewed with them a few days back and the premium and IDV was as expected, lesser than last year.

See Future Generali

Sorry guys,
Was a bit busy. Got the insurance renewed. Called up the FG insurance guy and got everything sorted out. Entering their office i felt as if i had entered a Govt Office stupid:. The reason for the higher premium was "Sir aapka insurance, company ki taraf sa hua tha is liya." The company had insured the car for the first year hence the premium was low ,now it has gone up. I didn't understand the logic.

I told him i am pulling out since i got a better quote from BajajA. He intermediately make a few calls and the premium came down. Gave him the cheque and took the cover note.

Experts,

Can I cancel the policy mid-term before it expires because I am not happy with their customer service? Or just retain only third-party liability amount, and get pro-rata refund?

Details here: http://www.team-bhp.com/forum/indian...t-do-next.html

My Honda City is in its 2nd year now; for this year Insurance was taken from Tata AIG. The Insurance, renewed in June '11, is Comprehensive.

Is it possible to change it to 0-dep mid-way?

Pros/cons?

Question on NCB.

I have the insurance renewal coming up next month and I haven't made any claims so I get 20% NCB. I also have a 35% NCB certificate from a car which I sold. So how much max NCB I can get on renewal:

1. 20%
2. 35%
3. 45%

Bajaj Allianz call center guy is offering 45%. He asked me for NCB certificate scan before quoting. But is it correct - 35% from certificate + 10% from last year no claim? Because I do not want to be in trouble during claim.

Is there a site where I can get quotes for my 1985 Bajaj Super. For the past 5-6 years, my IDV is at 6K and the insurance premium is constant at 297. However, this time they have quoted 497 for the same IDV. According to National insurance, the 3rd party premium is hiked by 200. My NCB is 50%

Quote:

Originally Posted by DieselFan (Post 2503724)

When my new car i10 for my wife was purchased last year we bought a zero depreciation insurance from bajaj Alliance. While renewal I get a renewal letter which doesn't talk of the zero depreciation and the insurance premium is far less. Does zero depreciation insurance can be carried forward to year 2,3 and so on?

thanks,
DF

hi DF,

Could you update on your case ? I have insurance on my i10 to be renewed next month from Tata-AIG whom i had purchased it last year with 0 Depreciation. Now not sure if they would renew it with 0 Dept or not !

Quote:

Originally Posted by Butters

You can buy zero depreciation insurance upto first 3 years. Ask specifically for it.

Guys,
Today I got insurance for my i20 renewed with Bajaj Allianz online. But I've entered my vehicle registration number wrong. Is it possible to change the reg number now?

Quote:

Originally Posted by Me-hul

Guys,
Today I got insurance for my i20 renewed with Bajaj Allianz online. But I've entered my vehicle registration number wrong. Is it possible to change the reg number now?

Call the helpline , they should be able to help.