Team-BHP > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 9th March 2015, 16:20   #3256
BHPian
 
Join Date: Jan 2014
Location: Mumbai
Posts: 76
Thanked: 56 Times
Default Re: Insurance Renewal -- query

This is a follow up of my earlier post. I renewed my insurance from Bajaj Allianz. Renewing via JMD was ~1.5k cheaper. So instead of quote of 53k online, JMD offered it to me for 51.xxk. This was Drive Assure Economy.

I wanted rodent coverage and they mentioned it was available with Drive Assure Elite (which VW cars get) and it cost 59k. So I got this one for my car. Hoping I dont have to use it though.
pratika is offline  
Old 9th March 2015, 18:07   #3257
Distinguished - BHPian
 
saket77's Avatar
 
Join Date: Dec 2012
Location: Ranchi
Posts: 4,019
Thanked: 9,278 Times
Default Re: Insurance Renewal -- query

Dear Insurance experts,

Can I use the copy of form 28/29 (change of ownership) to renew the insurance of a used car in my name which is currently in name of previous owner? The issue is that the process of change in ownership is held up with the RTO and the insurance would expire soon.

Kindly advice.

Thanks!
saket77 is offline  
Old 10th March 2015, 08:05   #3258
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,497
Thanked: 2,919 Times
Default Re: Insurance Renewal -- query

Quote:
Originally Posted by saket77 View Post
Can I use the copy of form 28/29 (change of ownership) to renew the insurance of a used car in my name which is currently in name of previous owner? The issue is that the process of change in ownership is held up with the RTO and the insurance would expire soon.
Yes you can. Submit the documents with the earlier original Insurance document with an application stating the RTO delay fact and you shoud be able to transfer the Insurance in your name. Once done you can renew the policy.

Alternatively if the previous owner is willing he can renew the insurance and you could take forward the Insurance transfer formalities.
ghodlur is online now   (1) Thanks
Old 10th March 2015, 10:11   #3259
Distinguished - BHPian
 
saket77's Avatar
 
Join Date: Dec 2012
Location: Ranchi
Posts: 4,019
Thanked: 9,278 Times
Default Re: Insurance Renewal -- query

Quote:
Originally Posted by ghodlur View Post
Yes you can. Submit the documents with the earlier original Insurance document with an application stating the RTO delay fact and you shoud be able to transfer the Insurance in your name. Once done you can renew the policy.

Alternatively if the previous owner is willing he can renew the insurance and you could take forward the Insurance transfer formalities.
Thank you Girish for the clear cut instructions. I will opt for the first procedure so as to avoid giving trouble to the previous owner. Also, it should be less complicated than the second option. Thanks for your useful input.

Regards,
Saket
saket77 is offline  
Old 10th March 2015, 21:28   #3260
Senior - BHPian
 
Join Date: Mar 2005
Location: Trivandrum
Posts: 1,460
Thanked: 1,938 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
So ideally the Insurance co is bound to pay the IDV charges minus the depreciation on pro rata basis. Looking at your case even if the depreciation is considered, the IDV works out to approx 1.5L. So ideally the IDv amount should be paid.

Since the Insurance co has asked your cousin to sell the car for scrap, calculate if the amount got from that would work out to the IDV in addition to the Insurance co payout. Alternatively the Insurance co can payout the entire IDV and sell the car to scrap on their own after cancelling the RC and Insurance.

Has the Insurance co responded in writing about the payout? If you have it, then approaching the Insurance co ombudsman first and then IRDA later would be the correct way of dealing the issue.

Ground rule: Stick to your demand of total IDV payout.
Thanks, the information helps. Will check out approaching the insurance company ombudsman.
The insurance manager emailed the surveyor's report today. The surveyed amount is 2.15 lakhs and after depreciation the amount to be paid out is 1.09 lakhs.

Other than the surveyor's report no other written communication has been recieved.

The estimated amount to be got for scrap would be around 20-22k which would not add up to the IDV along with the payout offered.

Quote:
Originally Posted by speedmiester View Post
Write an email to the Insurance ombudsman marking a copy to the Insurance company manager and the surveyor. This is enough for them to run to settle the claim. You should be getting the IDV value of the car if the car is totaled, the depreciation is always considered to arrive at the IDV. Stick to your guns.
Yup, the IDV is what we are sticking to.

Drive on,
Shibu.

Last edited by shibujp : 10th March 2015 at 21:30.
shibujp is offline  
Old 11th March 2015, 12:51   #3261
Senior - BHPian
 
recshenoy's Avatar
 
Join Date: Mar 2008
Location: Mangalore / Bangalore
Posts: 1,123
Thanked: 226 Times
Default Re: Automobile Insurance Queries? Ask me

I have a query related to insurance renewal, particularly NCB transfer. My figo (2012 March) insurance is due on March 15th.

Current insurer is quoting 8.8K for renewal with an IDV of 3.5L (united insurance). Before United I had insurance with Ford (Sundaram) for 2012 and 2013.
I claimed insurance in 2013 (Sundaram) before switching to United insurance in 2014 March. So I believe NCB is void with respect to Sundaram insurance.

In 2014 I have not made any claim but planning to switch insurer with zero depreciation since car will be driven lot more in coming days. United insurance is not providing zero depreciation. United insurance document says 25% as NCB. So I am confused about this NCB transfer. How much NCB deduction I can get when I switch insurer?
recshenoy is offline  
Old 11th March 2015, 13:18   #3262
Senior - BHPian
 
speedmiester's Avatar
 
Join Date: Jul 2006
Location: bangalore
Posts: 1,952
Thanked: 3,327 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by recshenoy View Post
I have a query related to insurance renewal, particularly NCB transfer. My figo (2012 March) insurance is due on March 15th.

Current insurer is quoting 8.8K for renewal with an IDV of 3.5L (united insurance). Before United I had insurance with Ford (Sundaram) for 2012 and 2013.
I claimed insurance in 2013 (Sundaram) before switching to United insurance in 2014 March. So I believe NCB is void with respect to Sundaram insurance.

In 2014 I have not made any claim but planning to switch insurer with zero depreciation since car will be driven lot more in coming days. United insurance is not providing zero depreciation. United insurance document says 25% as NCB. So I am confused about this NCB transfer. How much NCB deduction I can get when I switch insurer?
You will still get 25% NCB even if you switch to a new Insurer.
NCB will be given irrespective of whether you are continuing with the insurer or not. You can try different insurer who will be offering Zero depreciation cover for your Figo.
speedmiester is offline  
Old 11th March 2015, 13:53   #3263
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,497
Thanked: 2,919 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by recshenoy View Post
In 2014 I have not made any claim but planning to switch insurer with zero depreciation since car will be driven lot more in coming days. United insurance is not providing zero depreciation. United insurance document says 25% as NCB. So I am confused about this NCB transfer. How much NCB deduction I can get when I switch insurer?
Actually you would eligible for 20% NCB since you had only one claim free year i.e from March 2014 to March 2015. Surprised to see UI providing 25% NCB which is the % for the two claim free years. When you try to buy the Insurance online, you will be asked for the NCB % and you can use the 25% provided you have the commitment from UI in writing.

My suggestion better stick to 20% because if new insurer realizes the folly of UI, they will ask you to pay back the additional amount.
ghodlur is online now  
Old 14th March 2015, 17:16   #3264
BHPian
 
Join Date: Jan 2008
Location: Hyderabad
Posts: 26
Thanked: 3 Times
Default Re: Automobile Insurance Queries? Ask me

Guys,

I was on a road trip and unfortunately hit a cow that came out of nowhere on the highway. The animal got up and scooted but my car (Toyota Innova) has some marks to show. One of the headlights broke and there is a dent on the bonnet cover and the driver side door got banged up badly and looks like it needs replacing.

I showed it to a body shop guy and he said it would cost me upwards of Rs. 25000 to repair.

I have insurance (not the fancy "bumper-to-bumper" variety but the regular comprehensive one. The car is from 2008 and I had an NCB on my earlier car too which I got transferred to this one. So there is a 50% (Max) NCB.

I am due to upgrade my car and might be going for anything in the range of Rs. 25-35L in the next one year if not earlier.

My question is, does it make sense for me to claim insurance?

Please advise.

GG
GentleGiant is offline  
Old 16th March 2015, 12:49   #3265
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,497
Thanked: 2,919 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by GentleGiant View Post
I am due to upgrade my car and might be going for anything in the range of Rs. 25-35L in the next one year if not earlier.

My question is, does it make sense for me to claim insurance?
You could save much more with your 50% NCB on your new Car's insurance which I assume will be substantial. Having said that one year is too long period for the decision making, you will need to take an appropriate call. Take an informed decision.

My suggestion: if you have the cash, dont claim the Insurance and use it for the new car's insurance. If not claim the repair charges.
ghodlur is online now   (1) Thanks
Old 17th March 2015, 20:10   #3266
BHPian
 
pgupta's Avatar
 
Join Date: Dec 2009
Location: Bangalore
Posts: 198
Thanked: 105 Times
Default Re: Insurance Renewal -- query

My XUV 500 is up for renewal with no claims for the 1st year. As reported by fellow bhpians I am also going thru a phase where I am getting everyday 5 calls from different agents with different offers etc. I am really confused now, not being able to decide which company to go for. Or should I simply renew the one that dealer provided last year. To make the matter worst the dealer too has sent 3-4 quotes from different companies.

Please let me know what should I check before I buy the insurance. I check the IDV and total premium but nothing more. What else to check ?

Are these general insurance companies all the same or some are known to be better than others. Please help me to decide.
pgupta is offline  
Old 18th March 2015, 08:54   #3267
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,497
Thanked: 2,919 Times
Default Re: Insurance Renewal -- query

Quote:
Originally Posted by pgupta View Post
My XUV 500 is up for renewal with no claims for the 1st year. As reported by fellow bhpians I am also going thru a phase where I am getting everyday 5 calls from different agents with different offers etc. I am really confused now, not being able to decide which company to go for. Or should I simply renew the one that dealer provided last year. To make the matter worst the dealer too has sent 3-4 quotes from different companies.

Please let me know what should I check before I buy the insurance. I check the IDV and total premium but nothing more. What else to check ?

Are these general insurance companies all the same or some are known to be better than others. Please help me to decide.
Follow the general steps:
1) Find out from your workshop with which Insurance co do they have cashless tie up.
2) Extract information from workshop which Insurance co has a good cashless settlement process & equally good customer care.
3) Get the premium quotes for the shortlisted Insurance co online though their website or comparison websites.
4) Confirm the correct IDV when comparing premium quotes. Seek Forum help if still confused.
5) Buy Insurance.
ghodlur is online now   (2) Thanks
Old 19th March 2015, 12:13   #3268
BHPian
 
Join Date: Feb 2010
Location: Mumbai
Posts: 31
Thanked: 248 Times
Default Does insurance cover Gift from Truck Driver

Good day friends,

Went on long drive with family as under in trusted Toyota Corolla 2006 model

Andheri Mumbai to Jaipur
Jaipur to Haridwar
Haridwar to Udaipur
Udaipur to Abu Road
Abu Road to Mumbai

Was driving at 10 in night at Baroda when suddenly a truck carrying boulders dropped one

I was at 90 and had very little time to break and decided to swerve instead resulting the front right tire going over the boulder

Rim was damaged and got home by changing the tyre of the car without any issues ( Thank you God )

Got the car inspected from my trusted mechanic and it was diagnosed that

a) right apron has come up a little
b) chassis has been hit and has lost alignment by 2 cms to right
c) steering has hardened but no damage to the pinion rack
d) front right shock needs to be changed

The mechanic has asked me not to invest any money in the car rather dispose it off immediately.

My question - Can I claim insurance ?

Reason - Cannot bear the thought of the person who buys this car getting hurt because of this instance.

Please guide - as per my mechanic insurance cannot be claimed.

rgds Deepak
dipak1406 is offline  
Old 19th March 2015, 13:35   #3269
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,497
Thanked: 2,919 Times
Default Re: Does insurance cover Gift from Truck Driver

Quote:
Originally Posted by dipak1406 View Post
My question - Can I claim insurance?
Firstly the title is misleading, pls write to mods to change it.
Secondly your mechanic is right in saying that you cannot claim insurance since the mechanical damages are caused by your negligence. But he is absolutely not right in saying that the car needs to be disposed off, pls dont think on those lines unless you get it thoroughly checked at Toyota workshop and assess the condition. The damages can be minimum too.

Suggest you to get the car serviced and if Toyota confirms that the integrity of the cars is compromised then only think off selling it. Pls see this.

Quote:
The Company shall not be liable to make any payment in respect of:-
(a) consequential loss, depreciation, wear and tear, mechanical or electrical
breakdown, failures or breakages;
(b) Damage to tyres and tubes unless the Private Car is damaged at the same time in
which case the liability of the Company shall be limited to 50% of the cost of
replacement.
and
(c) any accidental Loss or Damage suffered whilst the Insured or any person driving
the Private Car with the knowledge and consent of the Insured is under the
influence of intoxicating liquor or drugs

Last edited by ghodlur : 19th March 2015 at 13:37.
ghodlur is online now   (2) Thanks
Old 19th March 2015, 13:47   #3270
Senior - BHPian
 
NetfreakBombay's Avatar
 
Join Date: Jan 2008
Location: Bombay
Posts: 1,438
Thanked: 532 Times
Default Re: Does insurance cover Gift from Truck Driver

Quote:
Originally Posted by dipak1406 View Post
My question - Can I claim insurance ?
Yes, this is covered in insurance. talk to Toyota Garage and file a cashless claim.

Depending on the garage/Surveyor, this could be either:

1. Accident claim OR
2. Own damage

Quoting from experience of a BHPian:

Quote:
I recently claimed Rs 4000 for dent removal/painting on the rear left door of my Alto. I bumped in to the gate post, although slowly, while entering my compound. I have to make a steep left turn from the road to enter my compound, the right gate had swung partly closed due to wind, I was over confident and miscalculated the angle of entry.

I went for cashless settlement of Maruti insurance through the MASS. I just wrote "bumped in to the gate post" in the column for cause of accident in the form. Claim was settled without any questions.
Link to post : http://www.team-bhp.com/forum/indian...ml#post1660358
NetfreakBombay is offline   (1) Thanks
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright 2000 - 2021, Team-BHP.com
Proudly powered by E2E Networks