Team-BHP - Automobile Insurance Queries? Ask me

Quote:

Originally Posted by ghodlur (Post 2779076)

Can you check up with Iffco-Tokio if they offer cashless claims for Fiat cars. Maybe the Tata Dealer might be taking you for a ride. Fortune Motors is notorious for that. The other option you have is to contact other Tata workshops in Thane and find out if they honour cashless settlements from Iffco.

Is this new development post the Fiat breakup with Tata?

I think I put this query up here a bit too late. The surveyor finished his survey this morning and work may have begun by now. However, I am trying to push Iffco Tokio / Fortune to make this a cash less transaction.

I'll keep you guys posted.

Hello guys,
I need to renew my car insurance policy. My car is 4.5 years old and no NCB have been claimed for the previous insurance year(last year). My insurance is expiring on 20th of this month. My maruti insurance (United Insurance company?) is quoting an IDV value of 1.46Lakhs and a premium of Rs.4356/- and subsequently, tata aig is quoting Rs.4371/- with IDV value of 1.56Lakhs. Is TATA AIG policy good. with claim settlement and all?

Thanks,
Ramki

IDV can be arrived in 2 ways.
Your ex showroom value minus depreciation. And. Current ex showroom value minus depreciation.

IDV should be the cost of buying equivalent car in case of it getting totalled.
The second method takes care of inflation increase in current. Pricing for car.

Beyond 5 years, need inspection and value mutually derived.

Quote:

Originally Posted by ghodlur (Post 2779076)

Hey there,

Sorry for OT.

I will request for your comments on post No. 3348 of mine about auto insurance, posted on another thread. The link is given below: -

http://www.team-bhp.com/forum/long-t...t-dos-224.html

My local garage told me today that insurance companies started charging depreciation for paints. They said that for a 5 year old car 40% of painting cost would have borne by me !!

Is it true or just they are making some money? They also told me that this has started from May this year. If it is true will the policies taken earlier will be affected?

Quote:

Originally Posted by archat68 (Post 2782275)

Never heard of this. Has this depreciation rate being mentioned in the policy document? If not then it is a money making stunt.

Ask your garage the source of this (mis)information.

Quote:

Originally Posted by ghodlur (Post 2783110)

Never heard of this. Has this depreciation rate being mentioned in the policy document? If not then it is a money making stunt.

Ask your garage the source of this (mis)information.

Thanks for the clarification. It was not mentioned in policy document. Will ask them for supporting documents.

Quote:

Originally Posted by archat68 (Post 2782275)

Quote:

Originally Posted by ghodlur (Post 2783110)

Never heard of this. Has this depreciation rate being mentioned in the policy document? If not then it is a money making stunt.

Ask your garage the source of this (mis)information.

It is true and not any scam. This norm was issued sometime back.

Some companies are already charging depreciation on paint and some would start soon. Bajaj Allianz is charging depreciation on paint whereas Future Generali is not but they will start doing soon.

Quote:

Originally Posted by F50 (Post 2784539)

Will this be applicable for older policies too which are already effective and taken 5-6 month ago?

Quote:

Originally Posted by archat68 (Post 2784572)

Will this be applicable for older policies too which are already effective and taken 5-6 month ago?

It is applicable to all policies, irrespective of the date of issue.

Gentlemen,

Kindly find the insurance offer from ICICI Lombard (image), coming from an agent and not from company directly.

Basic T.P.P: In this policy there also include third party cover. If there is property loss the cover will be
7.5 Lacks & if there is person the coverage will be Unlimited.

Paid Driver: There is unlimited coverage For Paid Driver.

Owner Driver: In this policy there is 2 Lack coverage for owner driver.

Passengers: In this policy there is 1 Lack coverage for each passenger.

Note: The Cheque should be in the name of Icici Lombard General Insurance Co. Ltd.

It's a PACKAGE POLICY. There is not any VOLUNTARY EXCESS & not any CLAUSE.

Is this fair premium? TataAiG have not yet responded to my renewal call. PolicyBazar won't sell Zero Dep.

Quote:

Originally Posted by Sn1p3r (Post 2784704)

Gentlemen,

Kindly find the insurance offer from ICICI Lombard (image), coming from an agent and not from company directly.

Looks good! Nice discount above the NCB. But this is not Zero Dep.

Quote:

Originally Posted by F50

Looks good! Nice discount above the NCB. But this is not Zero Dep.

Thanks! But it mentions 12,282.50 for regular and ₹ 15,753.05 for no depreciation. Or am I being mis guided under some terminology?

Quote:

Originally Posted by Sn1p3r (Post 2784704)

Kindly find the insurance offer from ICICI Lombard (image), coming from an agent and not from company directly.

Try the ICICI Lombard website for an online quote and see it matches with the one given by agent. Verify how much discount on OD premium are you getting. If you are preferring zero dep, then I suggest look for other insurance quotes too.

And sorry to point out it is "Lakhs" and not lacks.

Quote:

Originally Posted by Sn1p3r (Post 2784763)

Thanks! But it mentions 12,282.50 for regular and ₹ 15,753.05 for no depreciation. Or am I being mis guided under some terminology?

Yes it is! My bad. You can wait for Tata AIG or other company' quote for Zero Dep if your due date is not near. (Tata AIG should be a higher side, i feel)

@ ghodlur - I think 45% commercial discount + 20% NCB is good enough.