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Old 17th August 2012, 11:01   #2176
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Default Re: Automobile Insurance - Ask me

Thats right Ghodhlur. I am selling the car from which I am cancelling the policy. Thanks for confirming my doubt. Will raise it with HDFC.
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Old 18th August 2012, 10:51   #2177
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Default Re: Automobile Insurance - Ask me

Hi Guys,
Need your help with the insurance for new Laura Petrol (VRS) as a corporate purchase.

Dealer Insurance (from Bajaj Allianz) is very high and company is not willing to pay so high insurance.
I checked with multiple providers and insurance is substantially low (compared to dealer) and will have to select one of best deal instead of dealer.

Now my question is -
I am getting discount of 1.5L on this new Laura.
So should the insurance be based on original ex-showroom (as an IDV) or can I lower it based on the discount amount which will reduce the premium further?

Last edited by vishaltanksale : 18th August 2012 at 10:53.
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Old 21st August 2012, 09:19   #2178
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Hi RJ_VORA,

Need your inputs, my car met with an accident yesterday and I have misplaced the insurance. Advise me on how to proceed.

I have a payment receipt from my Car showroom that shows the payment made towards insurance, will I face any issues with the claim. I do not have the privilege of PMing you...

Regards,

Cannon
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Old 21st August 2012, 15:52   #2179
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Default Re: Automobile Insurance - Ask me

Can anyone tell me how is HDFC ERGO insurance, as my current Royal is qouting higher for the same IDV than HDFC.
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Old 22nd August 2012, 10:38   #2180
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Quote:
Originally Posted by cannon View Post
Hi RJ_VORA,

Need your inputs, my car met with an accident yesterday and I have misplaced the insurance. Advise me on how to proceed.

I have a payment receipt from my Car showroom that shows the payment made towards insurance, will I face any issues with the claim. I do not have the privilege of PMing you...

Regards,

Cannon
Not a problem if you misplace your insurance. Go to the insurance company nearest branch office and get a duplicate copy. Not a problem if you do not know the policy number. They can search based on your name , vehicle registration number , engine number , chassis number, etc. They might charge you a nominal fee of Rs 50. Then go ahead and register a claim.
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Old 22nd August 2012, 16:07   #2181
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Quote:
Originally Posted by Marlon View Post
Not a problem if you misplace your insurance. Go to the insurance company nearest branch office and get a duplicate copy. Not a problem if you do not know the policy number. They can search based on your name , vehicle registration number , engine number , chassis number, etc. They might charge you a nominal fee of Rs 50. Then go ahead and register a claim.

Hi Marlon,

Thanks for the information, the service adviser in the Car Showroom helped me with getting a copy of the insurance from their records.

Regards,

Cannon
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Old 22nd August 2012, 18:01   #2182
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Default Re: Automobile Insurance - Ask me

i have a year old Beat LT with insured at New India Assurance(11.2k) which is expiring on 31 aug.


i was looking for some other and checked policybazaar.com and stumbled on Reliance General Insurance for 6.8k
hows this insurance premium so low?
also they say that we get 20% discount on NCB.does it imply if you change insurance companies or if you change the cars!
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Old 22nd August 2012, 18:47   #2183
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I have bajaj allianz from last 3 years for my 2009 august punto Em Pk and 25th is the expiry date and need to remove. I made a claim 2 months ago hence i loose the NCB.

But when i spoke to one insurance company i didint mention about the claim and they gave me offer of 8588/- with 40% for Bharti AXA. Now i have a confusion here,

what if i renew with this offer with NCB where in actually have claimed? what happens then?
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Old 23rd August 2012, 12:42   #2184
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Default Re: Automobile Insurance - Ask me

Quote:
Originally Posted by ariendj View Post
i have a year old Beat LT with insured at New India Assurance(11.2k) which is expiring on 31 aug.


i was looking for some other and checked policybazaar.com and stumbled on Reliance General Insurance for 6.8k
hows this insurance premium so low?
also they say that we get 20% discount on NCB.does it imply if you change insurance companies or if you change the cars!
There could be different parameters which affect the premium.

Discount, IDV.
Im sure New India's discount would be on a lower side.

Quote:
Originally Posted by ~~VinZ~~ View Post
I have bajaj allianz from last 3 years for my 2009 august punto Em Pk and 25th is the expiry date and need to remove. I made a claim 2 months ago hence i loose the NCB.

But when i spoke to one insurance company i didint mention about the claim and they gave me offer of 8588/- with 40% for Bharti AXA. Now i have a confusion here,

what if i renew with this offer with NCB where in actually have claimed? what happens then?
Its wrong to hide facts.

Company will check under two scenarios:

1) As soon as you renew with AXA they'll verify with Bajaj about NCB
2) If not, they'll surely check when a claim arises in Bharti AXA

When the find out that the client was hiding facts, the company could either:
a) Terminate the policy
b) The claim will never be paid

Different companies have different policies regarding hiding facts.

My sincere advice is please pay the full premium. You are buying insurance for peace of mind. For couple of thousands you are really losing that peace of mind.
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Old 30th August 2012, 14:56   #2185
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Quote:
Originally Posted by F50 View Post

Its wrong to hide facts.

Company will check under two scenarios:

1) As soon as you renew with AXA they'll verify with Bajaj about NCB
2) If not, they'll surely check when a claim arises in Bharti AXA

When the find out that the client was hiding facts, the company could either:
a) Terminate the policy
b) The claim will never be paid

Different companies have different policies regarding hiding facts.

My sincere advice is please pay the full premium. You are buying insurance for peace of mind. For couple of thousands you are really losing that peace of mind.
Totally Agree with F50. No point hiding your claim. It will come up during their background check. This will also have a ripple effect in the future years of your insurance renewals. Suggest you not claim NCB.
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Old 31st August 2012, 09:56   #2186
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Default Re: Automobile Insurance - Ask me

Hi,
A query regarding transfer of NCB.
I had a Swift which was sold 5 months after I bought a Vento. Now I have received the 35% NCB bonus certificate for Swift. My Vento's insurance is to be renewed by Jan 2013. And I guess, I will be eligible for this 35% NCB at that time.
But if I claim insurance for the current policy of vento, still, will I be able to getthe 35% NCB on the renewal, because that is getting transferred from a different vehicle?

(This was wrongly posted in the FAQ thread. I have asked the mods to delete it)
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Old 31st August 2012, 13:00   #2187
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My father recently started driving after a hiatus of almost 15 years.He'd been driving our santro on and off, but now he's on a dzire carrying a zero dep policy.
As such, the car has faced some undue abuse(cosmetically) by way of :
1. A broken bumper(about a 4 inch sized hole)
2. Scratch across the rightside from tail to the front door(not just paint, but in metal too.)
3. big scratch on left side on both doors.

Its about 2-3 months old now, and I was thinking of utilizing the zero dep.
My question is, all of the above are covered, i think(?).
What will be the financial impact next year?
Is this a painful procedure, claiming on a zero dep?
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Old 31st August 2012, 14:36   #2188
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Quote:
Originally Posted by mayankk View Post
Its about 2-3 months old now, and I was thinking of utilizing the zero dep.
My question is, all of the above are covered, i think(?).
What will be the financial impact next year?
Is this a painful procedure, claiming on a zero dep?
Zero depreciation is applicable on the total cost of the repairs which means apart from the claim fee (which I think is rs 500 or 1K which you pay) rest of the repair cost will be borne by the Insurer. Claiming a zero dep is like any ordinary insurance claim. The impact next year will be again similar to the NCB loss i.e you loose 20% NCB. With whom is the car insured for zero dep?
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Old 31st August 2012, 14:41   #2189
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Quote:
Originally Posted by ghodlur View Post
Zero depreciation is applicable on the total cost of the repairs which means apart from the claim fee (which I think is rs 500 or 1K which you pay) rest of the repair cost will be borne by the Insurer. Claiming a zero dep is like any ordinary insurance claim. The impact next year will be again similar to the NCB loss i.e you loose 20% NCB. With whom is the car insured for zero dep?
Its from MS directly, I think in conjunction with BA.
So, if i lose NCB, whats the premium for next year, same as the first?
Is there and IDV calculation in the case of Zero dep(oxymoronic, it seems to me. )
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Old 31st August 2012, 14:42   #2190
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Default Re: Automobile Insurance - Ask me

Guys, need quick help.
Looking for second year insurance for my Tata Nano. National is quoting 4800 with IDV of 157000 with cashless facility at the garage where I go to for service. Iffco on the other hand is quoting Rs 4585 with IDV of 171000 but no cashless setup.
Which one should I go for? The existing insurance is with National.
I had posted this query in another thread but put it here also after seeing that this is an "ask me" thread.
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