![]() | #2776 | |
Senior - BHPian ![]() | ![]() Quote:
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![]() | #2777 | |
BHPian Join Date: May 2011 Location: Bangalore
Posts: 143
Thanked: 199 Times
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Thanks for your suggestion. Also, are you aware if it is possible to claim partial repair charges from the insurance company (instead of total loss)? | |
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![]() | #2778 | |
BHPian ![]() Join Date: Dec 2007 Location: Bangalore
Posts: 201
Thanked: 150 Times
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![]() | #2779 | |
BHPian ![]() Join Date: Jan 2010 Location: Mum, Blr
Posts: 98
Thanked: 48 Times
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Guess what, toyota protect 95 % idv was 22.2 exshrm pune, but united went one step ahead and offerered exhs+lbt 95% @ 23.4 @having cashless with dealers as well @57k. it is zerodep. Lots of arm twisting for toyotaprotect happened. Many thanks to ghodlur for your timely guidance. we saved almost 32k. Cheers | |
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![]() | #2780 | ||
Senior - BHPian ![]() | ![]() Quote:
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I got the renewal notice with quote for Rs. 4,775/-. I checked online renewal and the quote I got is Rs. 4,382/-! I tried to insure as if I am a new customer migrating from other company and the quote I got is Rs. 3,849/-!?! All three quotes are uploaded..... Existing customer will get fleeced if he doesn't bother to check? | ||
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![]() | #2781 | |
Senior - BHPian ![]() | ![]() Quote:
Have you contacted Bajaj regarding the discrepancy in the two quotes? The third quote is understandable as Bajaj thinks you are a new customer hence giving additional discount. Have you tried online quotes from other Insurers too? I would suggest call up Bajaj and show them the facts, they might actually match up the lowest premium. | |
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![]() | #2782 |
Senior - BHPian ![]() | ![]() I have sent a mail to them and am awaiting a response. (The number provided on the renewal notice is not answering the call) I also tried to get a couple of quotes online - PSU and private. No luck - because it looks like vehicles more than 5 years old are not being encouraged. (In one of the sites Fiat Palio model is not available at all!). 1000 bucks more is not a big deal, as they have kept the IDV intact. Some of the insurers will reduce the IDV and quote a lower premium, which is not much of a benefit..... |
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![]() | #2783 |
BHPian ![]() Join Date: Dec 2013 Location: Gurgaon
Posts: 42
Thanked: 20 Times
| ![]() The online quote is lesser because insurance companies save money by doing away with Human intervention. Also, all insurance companies prefer online transaction in order to have complete contact information and address of the Insured so that they can contact them in future for renewal there by increasing their retention ratio. Which variant do u own? When is the policy due for renewal? |
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![]() | #2784 |
Senior - BHPian ![]() | ![]()
Palio NV 1.2 Sport. Policy expires on 19th Jan 2014. SBI General quote was about 4,400 on the same IDV. The issue is - how do the new customers get better rates and the existing ones have to carry the burden of old (higher) rates.... I'll try to dig up my earlier policy data and compare what was quoted. BTW, from earlier experience renewing the policy on line was hassle free at Bajaj Allianz - got everything done, including the new policy document, within 15~20 minutes. |
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![]() | #2785 |
Newbie Join Date: Dec 2012 Location: New Delhi
Posts: 21
Thanked: 5 Times
| ![]() My Duster RXL(o) 85 is up for insurance renewal in 2 weeks time. I have been getting calls from several agents, and the experience has been disturbing to say the least. There is rampant mis-selling and these guys add hidden clauses to offer low quotes. I had some basic questions and would be glad if experienced members could address those 1. Are Airbags covered under Zero Dep Insurance ? One agent tried to push a "consumable cover" stating that Air bags are treated as accessory / consumable and hence not covered fully under Zero Dep insurance. 2. How is the IDV calculated ? - 10% deduction over the last IDV, is that a fair formula ? 3. How useful is engine / gear box protector ? To my knowledge, it protects against the risk of water damage - Any policy that offers as part of the standard package and not as an Add On ? 4. Is there a limit on the number of Zero Dep Claims in a year ? 5. Voluntary Deductible : This is a big one. Most agents tend to cheat here. Is there a standard deductible ? People keep telling me about file charges etc. Thanks, AG |
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![]() | #2786 |
BHPian ![]() Join Date: Dec 2013 Location: Gurgaon
Posts: 42
Thanked: 20 Times
| ![]() AG10: Airbags are covered 100% in Zero Dep and 50% in comprehensive policy. No. Of zero dep claims vary from 2-3 claims from company to company. As per IRDA guidelines depreciation in IDV should be anything between 5%-10%. Since the resale value of duster is higher I suggest you should push for a depreciation of no more then 7.5%. Engine/gearbox cover in my opinion is not required as your vehicle has a ground clearance of 200mm unless you live in low lying areas of mumbai which tend to get flooded. The phenomenon of water ingress in Engine or transmission is called Hydrostatic lock. BMW's and Mercs are very prone to it due to engine design and Technology. I haven't seen many vehicles from other manufacturers facing this issue. I suggest you don't opt for voluntary access discount. Whenever one intimates a claim with Insurance co. One has to mandatorily pay rs. 1000 for vehicles with engine size less then 1500cc and rs. 2000 for engine size more then that. Voluntary access is a declaration from insured that in case a claim occurs he will pay the opted amount while buying insurance from his own pocket. In lieu of opting voluntary access insurance co. Passes on a very marginal discount which you can easily neglect. Please stay away from choosing voluntary access. Also, look for other abrupt charges like cover for paid driver, PA cover for passengers etc. opt for buying policy on-line or a very reliable and known agent. |
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![]() | #2787 |
BHPian Join Date: May 2011 Location: Bangalore
Posts: 143
Thanked: 199 Times
| ![]() A quick question on total loss claims. Is the insurance company free to sell/auction the vehicle after total loss payment to insured? Also can the buyer from the auction repair and run the car again? Is there any points that I should take care of in such a case? |
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![]() | #2788 |
BHPian ![]() Join Date: Dec 2013 Location: Gurgaon
Posts: 42
Thanked: 20 Times
| ![]() Yosbert: once a vehicle is declared a Total Loss, it becomes the property of Insurance companies and they are free to sell it to any salvage buyer who bids the highest value. Usually, these cars are repaired and sold in the market back again. In a major loss situation the salvage buyer rather then repairing the vehicle sells the parts of it to recover his money and to make some profits on it. As an insured it will become your responsibility to Handover the keys all documents and sign form 29-30 and give it to salvage buyer. |
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![]() | #2789 | |
BHPian Join Date: May 2011 Location: Bangalore
Posts: 143
Thanked: 199 Times
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![]() | #2790 |
BHPian ![]() Join Date: Dec 2013 Location: Gurgaon
Posts: 42
Thanked: 20 Times
| ![]() Once you have signed form 29-30 any legal liability towards the vehicle will be salvage buyers headache. Please ensure you have a photo copy of form 29-30 with you. Accept the payment via cheque or Draft only. |
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