[ghodlur]

Originally Posted by Farukh

My car's insurance(ICICI Lombard) expires on 30th March. I will renew it online in advance, lets say on 10/3 and the new policy (may be ICICI Lombard or some other) will be effective from 31st March. I will also claim NCB. But what if my car meets with an accident on 15/3 and I need to claim the cost of repair? I will obviously want to claim the cost of repair from the existing policy. I want to know if it has any implications.

Before you ask, yes, devil mind is at play.

Even if you renew the policy and want to claim the insurance before the current policy expires, you can do so. The only point here is the Insurance co will ask you to pay the NCB difference which you had claimed during the renewal. The regulation reg NCB says that you are eligible for NCB if you dont claim for 12 months or policy year.

The best solution would be take the NCB advantage for the insurance renewal but claim in the next policy year instead of existing. Hope this helps.

[ridinthru']

Hi,

My March 2011 Figo Titanium D is up for renewal on the 17th this month, With a current IDV of 4,81,000/- the insurance company (Iffco) is offering an IDV of 4,33,000/- and a premium of 14,000/- to renew the policy (it's a zero dep ford prefferred insurance). No claims have been made in the so far.. I'm worried about the IDV falling too low for a car I bought for 6 Lakhs exactly 2 years ago.. Would appreciate some help from the forum. If want to have the IDV increased, how does the calculation work..? i.e. how much one pays for an increase of say 10,000/- on the IDV..

[ghodlur]

Originally Posted by ridinthru'

Hi,

My March 2011 Figo Titanium D is up for renewal on the 17th this month, With a current IDV of 4,81,000/- the insurance company (Iffco) is offering an IDV of 4,33,000/- and a premium of 14,000/- to renew the policy (it's a zero dep ford prefferred insurance). No claims have been made in the so far.. I'm worried about the IDV falling too low for a car I bought for 6 Lakhs exactly 2 years ago.. Would appreciate some help from the forum. If want to have the IDV increased, how does the calculation work..? i.e. how much one pays for an increase of say 10,000/- on the IDV..

Ideally your IDV for the next year should be 461000/- something. You can ask Iffco about the same and the premium to be charged accordingly icluding for the zero dep. Does Iffco tokio has online renewal option? If so try increasing the IDV online and check the premium. If Ok, you can renew online.

Please note that the IDV depreciation should be inline with the IRDA regulations. If you feel Iffco is not offering a good deal, switch to other insurance co with which Ford has cashless tie up. There are Royal Sundaram, Future Generali, Bajaj allianz, new India Assurance naming a few.

[ridinthru']

Thanks for the info.. will check policy bazaar in a while too

[sriturl]

Any feedback on Bharti AXA?

I got renewal for my Swift (current insurer Tata AIG) coming up.
Tata is offering at around 6,300, Bajaj for 5,300 and Bharti at around 4,500

Any particular feedback about Bharti as compared to the other two?
Mostly I have alternating between Bajaj and Tata based on lowest quote for last 4 years. This is 5th year.

[ghodlur]

Originally Posted by sriturl

Any feedback on Bharti AXA?

Any particular feedback about Bharti as compared to the other two?

The best place to get the info would be the Maruti workshop where you get the usual servicing done. Try to find out how has been the claims processing for Bharati Axa customers, you will also get a feeling of the workshop's inclination towards the Insurance co. I hope Bharati does have a cashless tie up with Maruti.

By doing a comparison between the 3 insurance co shortlisted, try to find out what does Bharati Axa miss out by offering less insurance premium than others.

[naveenroy]

I have just sold my Thunderbird a few days back. I will need to transfer the insurance to the new owner. How can I go about doing this? It is ICICI Lombard 2-wheeler insurance.

[ghodlur]

Originally Posted by naveenroy

I have just sold my Thunderbird a few days back. I will need to transfer the insurance to the new owner. How can I go about doing this? It is ICICI Lombard 2-wheeler insurance.

You need to ensure that the RC is transferred to the new owner prior to Insurance transfer. Once RC transfer is done, all you need is to submit a simple application to the Insurance co for change in the Insurance ownership, a small fee is applicable for this transfer. Normally the new buyer takes the onus of doing it, no harm in you helping out for the process.

In case you have NCB eligibility, do ensure to take a letter from the Insurance co regarding the same. Hope this helps.

[naveenroy]

Originally Posted by ghodlur

You need to ensure that the RC is transferred to the new owner prior to Insurance transfer. Once RC transfer is done, all you need is to submit a simple application to the Insurance co for change in the Insurance ownership, a small fee is applicable for this transfer. Normally the new buyer takes the onus of doing it, no harm in you helping out for the process.

In case you have NCB eligibility, do ensure to take a letter from the Insurance co regarding the same. Hope this helps.

Thanks a lot! Then it is better that I wait for him to get it registered in his name.

[ghodlur]

Originally Posted by naveenroy

Thanks a lot! Then it is better that I wait for him to get it registered in his name.

Did the fee thing made you rethink?. Its actually Rs 50/- which is taken by the Insurance co.

You need to provide the old RC, new RC copy along with the old Insuarance policy copy & application letter. Some Insurance co have a std format for the same, either way to do the Insurance transfer.

[harishpr]

I couldn't resist but post this. I'm a customer with HDFC ergo and had a very seem less and pleasant experience during ncb certificate along with money promptly credited back to account with no followups or reminders. All transactions were over email and I got my ncb certificate in less than a week.
I highly recommend HDFC ergo for motor insurance.

Note: i don't work for HDFC, but I thought of appreciating the service when it rightly deserves so.

[funkyp]

I am currently in the market for renewing the insurance for my swift. When bought, I got the insurance for 17k with 0 dep and 6.72 ad idv.

On enquiring, the lowest I am getting is 15k for 0 dep and 6 lakhs idv by bharti axa.

Royal Sundram is expensive at 19k!! Icici says they don't offer 0 dep for Maruti and Tata cars

How's the feedback on bharti axa? Which other provider can I look at.

[kalpeshc]

Got two quotes for my 2010 i20 Sportz 1.2

Royal Sundaram - 11.6K/4.01 IDV/Zero Dep
Tata AIG - 11.2/3.96 IDV/Zero Dep

The thing that attracts me towards RS is the fact that one can have multiple claims in a year under zero depreciation whereas most other providers including AIG would entertain only 2 zero depreciation claims.

Any suggestions?

[saketa]

Dear All,
I've recently picked up a Honda City which is registered in the company's name. Ive signed a delivery note+transferred money and taken possession. but they are still to send their signatures on the papers (Form 29-30 etc) for transfer of ownership (which should take a week) . Adding another 15 days to that for actuall transfer being registered with the RTO i had a few questions.
I was planning to go on a road trip but was wary of the fact that although the car still is insured. It is insured in the company's name. ( I have original insurance+rc card etc but it is not in my name). So basically between now and April 19th or whenever it is the actual ownership is transferred and this transfer is recognized by the rto, if something was to happened to the car as a result of which i needed to make a claim. Will there be any issues or will the insurance company make a big noise about it?
Also in case the company decides to act smart and not sign the claim form etc, do i have an option?

My friends say that from personal experience they have never had any issues making a claim as long as they show their original papers, even though the cars were in their uncle's/dads/grandad's name.

But i would rather the insurance gurus over here sign off on their claim before i go for a highway trip!!

[ghodlur]

Originally Posted by kalpeshc

The thing that attracts me towards RS is the fact that one can have multiple claims in a year under zero depreciation whereas most other providers including AIG would entertain only 2 zero depreciation claims.

Is this confirmed? I would doubt that, why would any Insurer offer multiple claims under zero dep when the industry standard is 2 claims per year. Is this documented anywhere? Request you to confirm.

Originally Posted by saketa

Dear All,
I've recently picked up a Honda City which is registered in the company's name. Ive signed a delivery note+transferred money and taken possession. but they are still to send their signatures on the papers (Form 29-30 etc) for transfer of ownership (which should take a week) . Adding another 15 days to that for actuall transfer being registered with the RTO i had a few questions.
I was planning to go on a road trip but was wary of the fact that although the car still is insured. It is insured in the company's name. ( I have original insurance+rc card etc but it is not in my name). So basically between now and April 19th or whenever it is the actual ownership is transferred and this transfer is recognized by the rto, if something was to happened to the car as a result of which i needed to make a claim. Will there be any issues or will the insurance company make a big noise about it?
Also in case the company decides to act smart and not sign the claim form etc, do i have an option?

Before you embark on that road trip ensure couple of things - 1) Ensure the correct papers are submitted to RTO for the transfer of ownership. 2) Ensure that you intimate the existing Insurer about the transfer of ownership by providing a prelimnary letter with the transfer document copies stating that transfer of insurance application would be submitted once the new RC is recd. By doing this in case you have to make any claims during your trip, the Insurance co will honor it.

IMO take that trip after all the transfer (ownership+Insurance) formalities is completed to be on the safest side.