[ghodlur]

Originally Posted by rakku46

Guys. Finalizing on this quote from Bajaj Allianz . This is a comprehensive policy with the voluntary excess of Rs.5000. The premium is around Rs 9870.. Honda assure was working out to be bit expensive. Most probably will buy this. Any thoughts ?

Are you sure the premium is correct coz I feel its too low for an year old car. Even after opting for a voluntary excess, I feel the premium is low assuming that you must be claiming 20% NCB (or did you have additional NCB too). Looks like you didnt opt for Zero dep then. I hope you have done the comparison of other Insurance co premiums.

FYI, My 3 yrs old car insurance premium came to around 12K, so I am surprised by this figure.

[rakku46]

hi ghodlur,

Ofcourse this insurance is not zero dep. And I am paying 5000 rupees as the voluntary excess. Its a normal comprehensive policy. Just wanted to know how is Bajaj allianz? My Dealer is listed in the cashless garages. So I think it should be fine.
Ps: Zero dep or honda assure is expensive to me. Both cross 15k rupees.

[hrman]

Originally Posted by rakku46

Guys. Finalizing on this quote from Bajaj Allianz . This is a comprehensive policy with the voluntary excess of Rs.5000. The premium is around Rs 9870.. Honda assure was working out to be bit expensive. Most probably will buy this. Any thoughts ?

Reflecting Ghodlur's view above. Premium seems too low. Don't opt for any voluntary excess. In case of any claim, you end up paying a minimum of Rs.7000/-(5000+2000 compulsory excess), which ends up being the same as your premium amount.
Also get a quote for a Zero Depreciation plan, which covers 100% of fibres and plastics.

[bullrun87]

Hi,
I have to renew the insurance for my alto lxi. Until now I have stuck to the the maruti dealer insurance(he has a tie up with national insurance). this is the MASS where i bought my car and where I have it serviced. they are charging about 5950 for renewal, however I am getting quotes of 5000-5300 from private/govt insurers but none of them seem to have any sort of cashless tieup with this particular MASS I go to(according to their websites). why is it so? why cant I have cashless repairs done on my car at a some maruti centres if I dont buy Maruti insurance?

[lsjey]

I'm considering taking a Bumper to Bumper 0% depreciation policy from L&T Insurance. My vehicle is 2012 Manza (June 24, 2012). I've not taken any claims. Current policy is with National Insurance. Here are some interesting points:

1. Only L&T seems to be providing Bumper to Bumper for Tata Vehicles. I could not get from other Insurers that I tried. Quality issues of Tata?
2. L&T's quote is very cheap. Rs18900 approx. The alternate quote that I got from Cholamandal was Rs21K approx. The normal comprehensive insurance cover renewal quote from my existing insurer is Rs.14000 approx.
3. L&T is sending over a person to inspect my car.
4. L&T is a new entrant, and I'm not sure of the service.

I need your opinion on the deal that I'm getting from L&T. If there are other alternatives, please share.

Regards,
lsjey

[Latheesh]

If you did not have any claim last year, you are eligible for 20% discount (no claim bonus)

[kslives]

Hi all,

I own a BMW 320d M Sports model purchased in July 2012. My insurance is coming up for renewal in July so I have already started scouting for the best insurance policy for my car. Currently my car is insured by ICICI Lombard with BMW Secure which makes it a 0% depreciation policy. I did use my claim 2 times in the past year so I will not get the benefit of the NCB.

I plan to change my insurance company from the existing ICICI Lombard and certainly not renew BMW Secure as it's just a waste to pay more for it when other companies are providing the services of "Secure" like coverage of tyres (after considering wear and tear), plastic, key replacement, daily car allowance of 2k for 15days and roadside assistance.

So I got a couple of quotes today from BMW Finance (thought I should ask them in any case as they got everything done the last time round when I bought my car). They sent me a quote for both ICICI Lombard and Bajaj Allianz combined with BMW Secure and this is the quote I got:

I. ICICI Lombard:

1. Standard-50553/-
2. Copper - 61937/-
3. Silver - 72198/-
4. Gold - 73550/-
5. Diamond - 80585/-


II. Bajaj Allianz (A) + BMW Secure (B)

A+B: 46461 + 61798= 108259

Since I have been told that BMW has a national tie up with Bajaj Allianz, I thought of giving them a call separately and get a quote from them as well. This is what they have given me for 2 options:

1. Drive Assure Welcome package (0% dep but does not include engine protector and each time I make a claim I will have to pay 5000/-):

IDV. 2573550
Basic. 88530
Voluntary Access Rs. 1500
Net Basic. 87030
Electrical Aces. Value. 0
Premium For Electrical Aces. 0
Non Electrical Aces. CNG/LPG Value. 0
Premium For Non Electrical Aces. 0
Total Premium For Aces. 0
Total OD. 87030
NCB ---25% 0
NET OD. 87030
Discount 30% 43515
NET OD. 43515
TPPD. 3424
OWNER DRIVER. 100
PAID DRIVER. 50
PASSENGERS. 0
NET PREMIUM. 47089
D A Welcome. 9007
Discount --- % 0
Net DA premium. 9007
Fixed Premium. 500
Total DA Premium. 9507
Total NET PREMIUM 56596
Service Tax @12.36% 6995

Final Premium. 63592

Discount being offered: 3592/- so total would be 60,000/-

2. Drive Assure Economy package (0% dep which includes engine protect and I don't have to pay anything for claims but it does not include tyres and consumables)

IDV. 2628462
Basic. 90419
Voluntary Access -Rs. 0/- Rs. 0
Net Basic. 90419
Electrical Aces. Value. 0
Premium For Electrical Aces. 0
Non Electrical Aces. CNG/LPG Value. 0
Premium For Non Electrical Aces. 0
Total Premium For Aces. 0
Total OD. 90419
NCB ---25% 0
NET OD. 90419
Discount 30% 54251
NET OD. 36168
TPPD. 3424
OWNER DRIVER. 100
PAID DRIVER. 50
PASSENGERS. 0
NET PREMIUM. 39742
D A Welcome. 28913
Discount --- 0% 0
Net DA premium. 28913
Fixed Premium. 500
Total DA Premium. 29413
Total NET PREMIUM. 69155
Service Tax @12.36% 8548

Final Premium. 77702

Discount being offered: 5702 so total would be 73000/-

After reading this thread, I don't see too many happy Bajaj Allianz customers hence I'm really confused on which policy to opt for and by which company (TAIG seems to be the favored one on this thread) and also if I'm getting a good deal for my renewal.

Your urgent help will be most appreciated.

Thanks, Karan

[ghodlur]

Originally Posted by lsjey

I'm considering taking a Bumper to Bumper 0% depreciation policy from L&T Insurance. My vehicle is 2012 Manza (June 24, 2012). I've not taken any claims. Current policy is with National Insurance. Here are some interesting points:

1. Only L&T seems to be providing Bumper to Bumper for Tata Vehicles. I could not get from other Insurers that I tried. Quality issues of Tata?

Isjey,

As you rightly said L&T are relatively new player in the Car Insurance market, hence they might offer you Insurance at a lesser premium. Just ensure that L&T has a cashless tie up with the Tata workshop where you service the car. Its strange that most of the Insurers refuese zero dep for Tata Vehicles, maybe going by the past records of Tata vehicles claims. Regarding other alternatives, your will have to first check with Tata workshop with whom do they have cashless tie ups and then compare the premiums. Hope this helps.

[amitk26]

Isjay try getting online quote from royal sundaram they offer bumper to bumper and there is nothing against tata.
I recently purchased policy for new amaze and found that royal sundaram site c is most user friendly.

[amit]

My policy with Tata-AIG is up for renewal on July 1, however, I am in the process of selling off my car. If, by July 1, the ownership is not transferred and I don't renew the policy, will I lose the NCB?

[ghodlur]

Originally Posted by amit

My policy with Tata-AIG is up for renewal on July 1, however, I am in the process of selling off my car. If, by July 1, the ownership is not transferred and I don't renew the policy, will I lose the NCB?

If you have already sold the car, then you need to transfer the insurance too within 15 days of submission of document to RTO. You can submit an application to the Insurance co along with form 29 & 30, Insurance policy copy for the transfer. Either you renew the Insurance yourself or ask the buyer to pay the renewal insurance amount. In both cases the latest Insurance policy should be submitted to the Insurance co.

You wont lose the NCB, request the Insurance co for the NCB letter which is valid for 3 yrs.

[libranof1987]

I recently renewed my City's Insurance.

The car completed 3 years and had a Zero-dep policy with Tata AIG. They offered zero-dep for another year so we took that up.

The premium came to 11990.

Now, along with the regular policy, they've given us some Gold and Platinum coverage. I don't remember the exact details but the gist is:

(over and above the regular benefits).

- NCB will not be affected for the 1st time that glass/plastics/rubber items are claimed through Insurance.
- Key to be replaced for free if lost/damaged

However, I have to say; the policy renewal was a big headache.

1) There's some problem with the website; you can't renew the policy online

2) When you call Customer Care, they transfer the call to the "Renewal Dept." for processing the billing (through Credit Card). I think this dept. is pretty small as there were no available agents for the first 3 times that I called. To make it worse, they have a policy of not keeping calls on hold. So, you can't be in queue for the agents to be available. You either call back and end up with the same fate or ask them to call you back, which doesn't happen.

3) Tata AIG take 4-5 days to send even the soft copy of the new policy. This is in very sharp contrast to say Iffco who send in the soft copy within a few minutes. I had to raise multiple complaints to get the soft copy soon; they still took 4 days.

[shyam29june]

Originally Posted by ghodlur

Hold on to your horses, no need to start strategising even before you know the outcome. Regarding the parking space, I dont think you will be asked to pay anything till the matter is resolved. The workshop will be responsible for keeping your car subject to space availability, if not they themselves will escalate to the Insurance co.
But stick to your guns and as F50 said nothing less than Total Loss would work for you. All the best.

Dear Friends,

The battle is almost coming to an end. I just need few final inputs from you all. My surveyor provided his loss assessment report in which he mentioned that net loss is "X" amount which is less than 75% of IDV. therefore, BA stated that they can not consider total loss. However the catch is, surveyor had mentioned "X" as net loss where "X" is the part owned by insurer. He excluded policy holder's part from net loss. My understanding is that, Cost of repair is sum of insurers part and policy holer's part of loss. When I questions on this, they kept silent and not responding to me. All though I am getting into escalation channels, I appreciate your advise on the following

1) Is net loss calculated considering insurers part alone? or it is sum of insurers part and policy holders part.

2) If surveyor and insurence company refuses to respond to our questions, then what is the best thing that we need take to move ahead.

Thanks a lot in advance.

[ghodlur]

Originally Posted by shyam29june

1) Is net loss calculated considering insurers part alone? or it is sum of insurers part and policy holders part.

2) If surveyor and insurence company refuses to respond to our questions, then what is the best thing that we need take to move ahead.

1) Total loss is considered based on the repair cost exceeding 75% of the IDV as mentioned in the policy. It includes both Insurer as well as Insured contribution.
2) If the present Insurance co grievance cell is not responding to your complaints, then you can approach IRDA as per the link below; Send the reference no generated to the Insurance co also to be on safer side.
http://www.igms.irda.gov.in/

[MorePower]

I had to send by Figo, with 12k on the ODO to the body shop of Lathangi Ford, bangalore after a dog hit at high speeds caused a huge dent on the front bumper. The car is a year old.

I have a zero depreciation insurance with ICICI Lombard renewed just a month ago. While purchasing this insurance online, I had pointedly asked the online sales agent what my liability would be in case of an accident. He clearly said, "sir, only Rs 1000 as a compulsory deductible, not a Re more". Based on this assurance, bought the policy.

When the bill for the denting and painting work was presented to me 2 days ago, it read Rs 1,346. When questioned about the additional Rs 346, I was told it was consummables and it's not covered under zero depreciation.

The insurance surveyor attending to my case said my zero depreciation policy doesnt cover consummables. Apparently what I have is a copper policy whereas consummables are covered in the higher silver / gold policies.

Nowhere was this mentioned to me while purchasing the policy. also nowhere on my policy document is there a reference to it being a copper policy.

My question is, aren't consummables covered under zero depreciation?

Also can the sales agent be held liable for misrepresentation of facts since he clearly lied when I asked him a very direct and specific question?

Or am I missing a point here?