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Old 16th May 2012, 15:39   #2026
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ghodlur View Post
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.
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Old 18th May 2012, 13:34   #2027
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Default Re: Insurance Renewal -- query

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
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Old 19th May 2012, 14:43   #2028
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Default Re: Insurance Renewal -- query

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.
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Old 19th May 2012, 20:14   #2029
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ghodlur View Post
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?
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

Last edited by skdking : 19th May 2012 at 20:18.
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Old 19th May 2012, 20:24   #2030
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Default Re: Automobile Insurance - Ask me

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?
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Old 21st May 2012, 07:49   #2031
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Default Re: Automobile Insurance - Ask me

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Originally Posted by archat68 View Post
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?
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.
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Old 21st May 2012, 07:58   #2032
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Default Re: Automobile Insurance - Ask me

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Originally Posted by ghodlur View Post
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.
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Old 22nd May 2012, 12:04   #2033
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by archat68 View Post
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 ghodlur View Post
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.
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Old 22nd May 2012, 12:31   #2034
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Default Re: Automobile Insurance - Ask me

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Originally Posted by F50 View Post
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.
Will this be applicable for older policies too which are already effective and taken 5-6 month ago?
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Old 22nd May 2012, 12:36   #2035
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Default Re: Automobile Insurance - Ask me

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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.
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Old 22nd May 2012, 14:16   #2036
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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.
Attached Thumbnails
Automobile Insurance Queries? Ask me-image2763056424.jpg  

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Old 22nd May 2012, 14:32   #2037
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Default Re: Automobile Insurance - Ask me

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Originally Posted by Sn1p3r View Post
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.
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Old 22nd May 2012, 14:57   #2038
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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?
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Old 22nd May 2012, 15:12   #2039
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Default Re: Automobile Insurance - Ask me

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Originally Posted by Sn1p3r View Post
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.
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Old 22nd May 2012, 15:23   #2040
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Default Re: Automobile Insurance - Ask me

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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.
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