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Old 29th December 2012, 21:12   #2341
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Default Re: Insurance Queries?

I have a query: Is it not legal anymore to just purchase Third Party insurance alone and not Comprehensive ?

A friend, whose car is insured with Tata AIG Comprehensive; expires next month, wants to downgrade the package to Third Party only. The company tells him that comprehensive insurance is a must now.
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Old 31st December 2012, 09:27   #2342
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Quote:
Originally Posted by Pancham View Post
I noticed it has left quite a few dents and the paint had also peeled off. The rear glass has also been etched. Look closely and you will find white marks on the glass. I wanted to know if insurance covers this?
See no reason why this should not be covered by Insurance unless if the Insurer thinks otherwise. The depreciation for the metal, paint and the glass will be applicable. Before you go for the claim, try to get a quote from a FNG to see if the Hyundai workshop quote is on the same lines.
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Old 1st January 2013, 08:14   #2343
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Quote:
Originally Posted by ghodlur View Post
See no reason why this should not be covered by Insurance unless if the Insurer thinks otherwise. The depreciation for the metal, paint and the glass will be applicable. Before you go for the claim, try to get a quote from a FNG to see if the Hyundai workshop quote is on the same lines.
I have zero depreciation policy. I haven't used it once this year . So thinking of opting for it. So it shall be Rs.1000 .

Last edited by Pancham : 1st January 2013 at 08:15.
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Old 1st January 2013, 11:05   #2344
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Default Re: Automobile Insurance Queries? Ask me

I have another question. Since the glass has permanent marks now will it be replaced or is there any way of repairing or removing those etch marks?
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Old 1st January 2013, 11:55   #2345
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Default Re: Automobile Insurance Queries? Ask me

Hi,

My car's insurance is up for renewal in FEB, had visited RNS Motors Yeshwanthpur to have an discussion about the same, was surprised with the responses that I got from the representative and her attitude.

1. Was looking for a zero-dep policy as am very unfortunate to almost meet an accident a year with no fault of us, the premium was 34 % more that the normal policy premium, I understand that the usually the difference is 20 %

2. They will not honor cashless insurance repair in case I get the policy from outside irrespective of the vendor

3. The attitude was like take it or leave it

So I am kinda confussed, what to do, pay up 3K extra and have the peace of mind or save it, need inputs
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Old 1st January 2013, 13:56   #2346
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Default Re: Automobile Insurance Queries? Ask me

My car is 2008 Dec Swift VXi and I have taken the insurance from National and no claims during 2008,2009,2010,2011. But in 2012 November I made a claim of 7000/- with National Insurance. Later I have renewed the insurance with Tata-AIG in Dec 2012 with 0% NCB.
Two days back my friend was saying that I was eligible for base NCB (20%)as per IRDA as its completed three claim free years. Could someone validate this please..
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Old 1st January 2013, 15:33   #2347
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by cannon View Post
Hi,

1. Was looking for a zero-dep policy as am very unfortunate to almost meet an accident a year with no fault of us, the premium was 34 % more that the normal policy premium, I understand that the usually the difference is 20 %

2. They will not honor cashless insurance repair in case I get the policy from outside irrespective of the vendor

So I am kinda confussed, what to do, pay up 3K extra and have the peace of mind or save it, need inputs
That sounds absolutely ridiculous !!! The dealer / workshop have no role whatsoever in the insurance bought for the vehicle, its the owners baby and the owner of the vehicle is the one to make the final decision on that. I suggest you should check with the workshop there and know the list of insurance companies for which cashless facility is available with them.

Once you are sure about the companies for which cashless insurance repair is honored then you are free to go on your own and buy the insurance from anyone or online. Just make sure that you don't lose out on the IDV in case you chose to go online for the insurance.

As far as the zero dep policy is concerned, 20% is about the maximum difference that you would find, usually its about 15% more than the normal insurance cost.
I'll strongly suggest you hunt for the insurance on your own.
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Old 2nd January 2013, 08:41   #2348
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Pancham View Post
I have another question. Since the glass has permanent marks now will it be replaced or is there any way of repairing or removing those etch marks?
If the vision is being hampered due to the etch marks, it is better to get the glass replaced no point in repairing the glass.

Quote:
Originally Posted by JVille07 View Post
Two days back my friend was saying that I was eligible for base NCB (20%)as per IRDA as its completed three claim free years. Could someone validate this please..
Sorry, your friend is wrong. Any claim in the Insurance year and the NCB becomes zero for the next Insurance renewal. Does your friend have anything to substantiate his claim, may be if he does it will help others too.

Quote:
Originally Posted by cannon View Post
3. The attitude was like take it or leave it
So I am kinda confussed, what to do, pay up 3K extra and have the peace of mind or save it, need inputs
One solution - Change the workshop. their attitude will reflect in their servicing too and you cant hand over your car to them with faith for regular services. Write a mail to the car manufacturers top bosses aboud the lacklasaidal attitude.
Check with the other workshops about cashless tie up and choose the Insurers carefully. Since you are thinking of opting from zer dep, this will cost you more than the normal premium in addition to the loss of NCB.
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Old 2nd January 2013, 11:26   #2349
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
If the vision is being hampered due to the etch marks, it is better to get the glass replaced no point in repairing the glass.
The vision is not hampered but the white marks are visible. So it doesn't look good. I told this to the SA but he was very hesitant as if I was getting the car repaired out of his pocket. He said " Sir what is the need of replacement", "lets see, I will tell the surveyor". I did not like his attitude regarding the glass. He had a 'kaam chal jayga' attitude.
I have given them car yesterday. They will take a minimum of 7 days.
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Old 3rd January 2013, 11:49   #2350
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Default Re: Insurance Renewal -- query

Hello,

My 2006(December) Getz GVS is due for insurance renewal and HDFC quotes an IDV of 1.28L with 20% NCB which appears too low for me.

New India Assurance offers IDV of 1.8L for a increased premium.

Does low IDV value affect the resale value of a car(assumed other car condition is good)

Do suggest if its worth trying other companies for increased IDV value.

Thanks
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Old 3rd January 2013, 13:01   #2351
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Quote:
Originally Posted by sathya_j2084 View Post
My 2006(December) Getz GVS is due for insurance renewal and HDFC quotes an IDV of 1.28L with 20% NCB which appears too low for me.

New India Assurance offers IDV of 1.8L for a increased premium.

Does low IDV value affect the resale value of a car(assumed other car condition is good)
Resale value of the car is no way related to the IDV. Increased IDV is more helpful only in case of theft or Total Loss. Since you car is more than 5 years old the IDV is to be mutually agreed between you and the Insurer. Opt for an Insurer who has a cashless tie up with the workshop where you get the Getz serviced.
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Old 4th January 2013, 20:30   #2352
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Insurance gurus, any help on my query above please?

Thanks
Amit.
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Old 4th January 2013, 20:35   #2353
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Quote:
Originally Posted by amitwiz1
I have a query: Is it not legal anymore to just purchase Third Party insurance alone and not Comprehensive ?

A friend, whose car is insured with Tata AIG Comprehensive; expires next month, wants to downgrade the package to Third Party only. The company tells him that comprehensive insurance is a must now.
Third party insurance is legally permitted AFAIK.
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Old 4th January 2013, 22:54   #2354
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Tara AIG flatly refuses to switch the policy to TP. What steps can be taken now ?
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Old 5th January 2013, 15:27   #2355
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Default Re: Automobile Insurance Queries? Ask me

Guys, Based on this:

Quote:
Q. When do insurance companies not pay the full IDV?
A. If you have not reduced the car value every year minimum by 10% from last year’s IDV, then your insurance company will not pay the IDV
Last year, (my first renewal for the Vento) I did not get the IDV reduced by 10%, I got something like 7% reduced (there were a couple car robberies in my circle and I got paranoid).
So where does this leave me? If I get my IDV reduced by an equivalent percentage (so as to reach -20% from the original value now), will I be in the normal bracket(where the company will pay full IDV)? Or if I get my IDV reduced by 10% this year,the IDV would be paid full ?

Last edited by negativeH : 5th January 2013 at 15:32.
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