[r_nairtvm]

Originally Posted by lakhanironak

1. Should we repair the car first by filing a claim on our policy ?

2. Wait for Meru to get back to us and ask them to make a claim on their insurance policy ?

Hi,

This is an unfortunate scenario for you

Oprtion 1 above is out of question as RC and Insurance are in two different names.

Option 2 is the only one available to you, but then I am not sure of the timeline involved.

The process of claiming for under a TP Liability for property damage (damage to your car) is not easy in India. Essentially you will have to file a civil suit against the the Driver, Ownder & Insurer of MERU, with evidences like Photos, Three Estimates, FIR etc (and then leave it probably to your children or grand children to get benefits when final judgement is given by a Civil Court )

May be find out about MERU's insurer and approach them directly for a out of court settlement, but then again you will have to get the "registered owner" of the car involved.

Once again there is a lesson for all here - Please don't drive around with a vehicle that is not Registerd and Insured in the same name

Just a possibility - check if the dealer still has a valid comprehensive Insurance policy with him in the name of the "Registered Owner", if so with the cooperation of the owner, you may be able to claim.

All The Best

Drive/Ride Safe

Ram

[F50]

Originally Posted by lakhanironak

Hi Guys,

Both the cars do have considerable damage amounting to 25k of repairs at minimum.

In the meantime, we've decided to get a estimate from the MASS, CarKraft, Mulund (W), Mumbai.

Another hiccup we have is that the we bought a used car through a dealer, and the RC is still to be transferred to my sister's name. We did renew the insurance policy well in time and that's on our name. The MASS told us that we wouldn't be able to log a claim as the car is still isn't in our name, although we have a valid Insurance Policy with Future Generali.

I don't really have experience with claiming Third Party Insurance, and don't know how the proceedings go about.

1. Should we repair the car first by filing a claim on our policy ?

2. Wait for Meru to get back to us and ask them to make a claim on their insurance policy ?

A tight situation and a nightmare for second hand car owners.

If the policy was still renewed in old owner's name, then you could have easily claimed it.

Check on the following:

1. Is the transfer of ownership in process? You must have produced Form 29 & 30 while transferring the insurance on your name.
If the same was submitted in RTO then, you must have got the receipt. If you have the receipt then show that and lodge the claim.

2. Check the date of inception of insurance and the receipt from RTO, the gap shouldnt be more than 14 days


Funda is simple, you should have Insurable Interest to claim. This is the worst possible position to be in for a used car owner.

And about claiming from Meru, don't even rely on that option. It might take years for you to get the claim.

[Prodigyy]

Hey there to all,

Well, Insurance is one aspect where i am a little..correction very naive. I have always had a number of questions regarding Insurance policies and all.

Recently i helped my friend purchase a Maruti Suzuki Sx4 Diesel, during that period i found out about 0% Depreciation Insurance. So, i advised my friend to buy that 0% Dep insurance plan. In the policy cover note, it was mentioned that third party damage liability is limited to Rs. 7.5 Lakhs per annum, can we contest this against the company; the company in question being National Insurance.

Now, i also plan to purchase a new Diesel vehicle soon, choices being Vento Diesel or the Sx4 Diesel (I wont comment on the limited choices here as i feel this is not the right place to discuss the same). I basically like every other person like to avoid hassles and thus want to go with the Insurance provided by the company. I am pretty sure ill be opting for a 0% Depreciation Insurance, my queries are:

a. How do i come to know whether the policy is comprehensive or a third party policy only ?
b. Lets say i want to opt for the TATA AIG Insurance Platinum pack policy and lets assume the dealer does not have that option for the policy, can i after buying the car with the 0% Depreciation policy from the dealer opt for an insurance on my existing insurance policy to avail benefits of the TATA AIG Platinum pack ??

[F50]

Originally Posted by Prodigyy

. In the policy cover note, it was mentioned that third party damage liability is limited to Rs. 7.5 Lakhs per annum, can we contest this against the company; the company in question being National Insurance.

This is third party claim limit and it has nothing to do with a claim against your vehicle. You can claim upto the limit of your IDV.

Originally Posted by Prodigyy

a. How do i come to know whether the policy is comprehensive or a third party policy only ?
b. Lets say i want to opt for the TATA AIG Insurance Platinum pack policy and lets assume the dealer does not have that option for the policy, can i after buying the car with the 0% Depreciation policy from the dealer opt for an insurance on my existing insurance policy to avail benefits of the TATA AIG Platinum pack ??

a. Below your name, there will be words like Comprehensive or Package Policy. This means your policy is a comprehensive policy. When words like Liability Only appears, its a third party policy.

b. This will never happen. Dealer will always offer Zero Dep. If they don't, you can contact the company and get it covered. But you can never endorse Zero Dep mid way. The add-on cover has to be from inception.

[sourabhzen]

Originally Posted by F50

.

Are the wheel bearings in the wheels covered in the insurance?

One of my friend had to pay for it in spite of having 0 dep policy as the company sad that the bearings are consumables.

[Prodigyy]

Originally Posted by F50

This is third party claim limit and it has nothing to do with a claim against your vehicle. You can claim upto the limit of your IDV.

Thanks for the clarifying this one, is this limit of Rs. 7.5 lakhs per annum any reason to worry for the owner. In other words is this limit par for the course ??

Originally Posted by F50

a. Below your name, there will be words like Comprehensive or Package Policy. This means your policy is a comprehensive policy. When words like Liability Only appears, its a third party policy.

b. This will never happen. Dealer will always offer Zero Dep. If they don't, you can contact the company and get it covered. But you can never endorse Zero Dep mid way. The add-on cover has to be from inception.

Thanks for the clarifying the above doubts, will keep them in mind when i head out in search of a new vehicle soon !!

[ghodlur]

Originally Posted by Prodigyy

b. Lets say i want to opt for the TATA AIG Insurance Platinum pack policy and lets assume the dealer does not have that option for the policy, can i after buying the car with the 0% Depreciation policy from the dealer opt for an insurance on my existing insurance policy to avail benefits of the TATA AIG Platinum pack ??

Your question is confusing. You are saying that you will be buying insurance through the dealer for zero dep and upgrade your existing insurance policy for zero dep. Is that what you are asking?
If so then what @F50 says holds true. You cant change your policy in between the policy year and zero dep has to be purchased either during the first purchase or during the renewals provided that the Insurer does have the zero dep add on along with the normal policy.

[Prodigyy]

Originally Posted by ghodlur

Your question is confusing. You are saying that you will be buying insurance through the dealer for zero dep and upgrade your existing insurance policy for zero dep. Is that what you are asking?
If so then what @F50 says holds true. You cant change your policy in between the policy year and zero dep has to be purchased either during the first purchase or during the renewals provided that the Insurer does have the zero dep add on along with the normal policy.

Nope, what i was saying was that i intend to go ahead with a 0% Dep policy as provided by the dealer, but can i have an insurance on this insurance given by the dealer wherein i have some extra add-ons like say loss of personal belongings, daily allowance for the period of time the car is in workshop etc etc.

Anyways, i guess my query has been answered, that either i need to buy all these things initially or i can only do it only at the time of renewal of the policy.

Thanks

[F50]

Originally Posted by sourabhzen

Are the wheel bearings in the wheels covered in the insurance?

One of my friend had to pay for it in spite of having 0 dep policy as the company sad that the bearings are consumables.

Usually companies dont cover consumables like nuts, bolts, bearings etc. There may be 1 or 2 companies which cover but their Zero Dep is nothing to talk about. I dont think consumables cost that much.

[lakhanironak]

Originally Posted by r_nairtvm

Hi,

This is an unfortunate scenario for you

Oprtion 1 above is out of question as RC and Insurance are in two different names.

Option 2 is the only one available to you, but then I am not sure of the timeline involved.

The process of claiming for under a TP Liability for property damage (damage to your car) is not easy in India. Essentially you will have to file a civil suit against the the Driver, Ownder & Insurer of MERU, with evidences like Photos, Three Estimates, FIR etc (and then leave it probably to your children or grand children to get benefits when final judgement is given by a Civil Court )

May be find out about MERU's insurer and approach them directly for a out of court settlement, but then again you will have to get the "registered owner" of the car involved.

Once again there is a lesson for all here - Please don't drive around with a vehicle that is not Registerd and Insured in the same name

Just a possibility - check if the dealer still has a valid comprehensive Insurance policy with him in the name of the "Registered Owner", if so with the cooperation of the owner, you may be able to claim.

All The Best

Drive/Ride Safe

Ram

Originally Posted by F50

A tight situation and a nightmare for second hand car owners.

If the policy was still renewed in old owner's name, then you could have easily claimed it.

Check on the following:

1. Is the transfer of ownership in process? You must have produced Form 29 & 30 while transferring the insurance on your name.
If the same was submitted in RTO then, you must have got the receipt. If you have the receipt then show that and lodge the claim.

2. Check the date of inception of insurance and the receipt from RTO, the gap shouldnt be more than 14 days


Funda is simple, you should have Insurable Interest to claim. This is the worst possible position to be in for a used car owner.

And about claiming from Meru, don't even rely on that option. It might take years for you to get the claim.

Thanks for the info. The dealer had started the Transfer Process nearly 3 months back, but delays were caused due to discrepancies in the First Owner's signatures. We've pushed the dealer to get us the RC asap.

After reading the above, I don't think its worth following with Meru for saving a few thousands. We're going for 'Option 2'.

The car did come with a valid comprehensive policy which eventually expired in the gap of 3 months, and we took up a policy right in time (August 17th 2012)

[skdking]

Originally Posted by sumeethaldankar

Hello,

I had a query regarding auto insurance.I have two cars a 97 800 with 60% NCB (IDV 25K) and a 2007 used civic with a insurance premium of ~ 16.5 K and IDV value 5lacs.My insurance will be due around july 2012 for both cars and wanted to know how much benefit i can get if i were to transfer the existing insurance from the 800 to the civic and get a altogether new insurance premium for the 800.By transfering would i, have to cancel the insurance for the 800 and pass the NCB to the Civic?

Let me know.

thanks all

Hi Sumeet,

Did you finally get a good deal for your Civic? What did you settle for finally?

I am asking because I too have to renew motor insurance for my Sep 3007 Civic VMT in less than a months time. The last time it had an IDV of 600000/- with HDFC ERGO. And this time no NCB also.

What should I expect?

[sumeethaldankar]

Originally Posted by skdking

Hi Sumeet,

Did you finally get a good deal for your Civic? What did you settle for finally?

I am asking because I too have to renew motor insurance for my Sep 3007 Civic VMT in less than a months time. The last time it had an IDV of 600000/- with HDFC ERGO. And this time no NCB also.

What should I expect?

I bought from SBI IDV 5 lacs , 20% ncb still it came to 10,800 bucks.You could try several other insurance cos SBI,L&T,Bajaj etc.Tell them your HDFC quote and see if they are able to reduce the premium.

[skdking]

Originally Posted by sumeethaldankar

I bought from SBI IDV 5 lacs , 20% ncb still it came to 10,800 bucks.You could try several other insurance cos SBI,L&T,Bajaj etc.Tell them your HDFC quote and see if they are able to reduce the premium.

Did you buy it online?

My IDV does not go below 600000/- with any company. Last year too it was 600000/-. How did you manage to get 500000/-.

For me no NCB.

Can you please share some details of your policy which can be used as bargaining chip by me.

[sumeethaldankar]

Originally Posted by skdking

Did you buy it online?

My IDV does not go below 600000/- with any company. Last year too it was 600000/-. How did you manage to get 500000/-.

For me no NCB.

Can you please share some details of your policy which can be used as bargaining chip by me.

Here you go

Age Of Driver Taken 33 years
Date Of Registration 10/1/2007
I D V of Vehicle 5,05,000
NCB(%) 20%
Profile Based Pricing Actual age considered
OD Premium Rs.7,322.96
Legal Lib to Driver Rs.25
3rd Party Lib Rs.2,853
PA 2lakh to Owner Driver Rs.100
Optional PA(50,000) to UP Rs.125
Service Tax Rs.1,278
Insurance Premium Rs.11,615
Final premium after discount adjustment Rs 10801/-

Previously i had Future Generali as the insurer and IDV was 500000 with premium ~16500 ,clearly a case of day light robbery.At SBI i managed to keep IDV same at 500000 and also paid a lower premium.I was given the option to keep IDV higher but the premium would have been higher as well so opted for 500000 only.If i had known other insurers would have given me a better deal and a better IDV value i would have gone with them instead of Future Generali

[Xryder]

I recently purchased a brand new vehicle (XUV 500) from the first owner within 3 weeks after he took delivery of the vehicle. The vehicle is carrying Oriental Insurance. I have got the RC in my name.

01. How good is Oriental Insurance ?
02. Do I have the option of getting insurance with another company or do I change the current policy with Oriental insurance to my name and then ask for refund from Oriental, then change to another company ?
03. Vehicle is registered in Kerala. Currently in Bangalore for a month. RC with my name was received only last week. Can I change the name on the existing Insurance policy to my name by reaching out to Oriental Insurance in Bangalore ?

TIA for any help.