[JMaruru]

Originally Posted by Irish

It's time to renew the inusrance policy for my TATA SAFARI Ex 4x2, May 2012 Model.Please advise me the hassle free insurance provider (with zero Dep & NCB Protection) with TATA workshops.Any ideas about Royal Sundaram and L&T with TATA workshops?

I moved out of 'Royal Sundaram' into 'National Insurance' on advice of Mandovi Body Shop. They seemed to indicate surveyor approvals would be much better.

[sumeshmani]

Need advice choosing an Insurance Provider for the renewal (zero dep for my Duster 85PS RXL, not claims yet):

ICICI: idv=8,12,000 premium=16,800
Bharti-Axa: idv=8,28,000 premium=16,400
HDFC-Ergo: idv= 8,00,000 premium=15,000

ICICI and Bharti include road side assitance. HDFC charges 350 (and service charge) for it.

My heart tells me to stick with ICICI, my current insurance provider. The numbers ask my brain to rethink it.

So members please help me out based on you experience with these providers.

[JMaruru]

How is ICICI Lombard Auto insurance? For one of our 15+ year old car, i would like to change from Tata AIG insurance as they do NOT have a tie up with Mandovi workshop.

As 'Maruti Insurance' doesn't accept older than 10+ year car, i would have to go directly with ICICI.

Any suggestions/advice?

[ghodlur]

Originally Posted by sumeshmani

So members please help me out based on you experience with these providers.

Originally Posted by JMaruru

How is ICICI Lombard Auto insurance?
Any suggestions/advice?

Guys,

To start with check with the workshop where you service the vehicle with which insurance co do they have tied up for cashless claims. Get the information from the workshop itself about the Insurer track history when it comes to claims process. Not everybody would have had a good experience with a single Insurer, it will always be a mixed bag. Take an informed decision accordingly.

[fast_elegance]

My car is in my uncles name. I have been using it for close to 3 years. I am now getting the car transferred under my name. The insurance expires on June 7th.

I am planning to renew the insurance post transfer of car in my name which I am expecting to happen before the end of this month.

Now what is the best method to renew insurance and also transfer it under my name?

The dealer informed me to visit them on the day of expiry and said they could renew and transfer without any extra charges. This is possible only if I visited them on the day of insurance expiry. I am not really sure how this worked.

Any advise?

[@Chaand]

@fast_elegance, this is possible as they will issue you a cover letter on that day and the actual policy will reach you by mail later on. You can use the cover letter till such time. However, you need not wait till the last day, as it can be done earlier as well.

[ghodlur]

Originally Posted by fast_elegance

Now what is the best method to renew insurance and also transfer it under my name?

The best possible way around is submit the document to the Insurer for the Insurance transfer parallely as done for the ownership transfer. The same set of documents along with an application for Insurance transfer will suffice. Once the Insurance is transferred to your name, use the same Insurance co during renewal citing loyalty customer. You should get a good discount too. Or else look outside. Ensure that you hand over the new RC copy to the Insurer for record keeping.

There is no point in going to a dealer of Insurance agent, its a simple DIY. Getting the Insurance renewed only on expiry date is BS.

[fast_elegance]

Originally Posted by @Chaand

However, you need not wait till the last day, as it can be done earlier as well.

Originally Posted by ghodlur

The best possible way around is submit the document to the Insurer for the Insurance transfer parallely as done for the ownership transfer.
Getting the Insurance renewed only on expiry date is BS.

Even I did not understand the logic of visiting them on the expiry date. I am using maruti insurance. I informed the lady that june 7th is a sunday and she tracks back saying you can come 2 days before expiry. Lol.

I will try and talk to someone who really knows the process in maruti. If not will look outside. I might get a better quote as well. Thanks.

[@Chaand]

Fast_elegance, in case you are planning to change insurers better start the process early enough. There may be a process followed by the new insurer which may involve a lead time. You don't want to be in a situation where you are between providers hence our of coverage and the car needs to be used.

[fast_elegance]

Originally Posted by @Chaand

Fast_elegance, in case you are planning to change insurers better start the process early enough. There may be a process followed by the new insurer which may involve a lead time. You don't want to be in a situation where you are between providers hence our of coverage and the car needs to be used.

The car is now transferred under my name. I called up maruti insurance and now they have quoted a higher premium in order to renew/transfer the insurance, as the NCB is not applicable.

Is it possible for me to renew the insurance 1st i.e. June 7th and then get it transferred under my name for Rs. 270. The difference in premium is aproximately 2k. Not really sure.

I now realize that, i should have waited for the insurance to be renewed before getting the vehicle transferred in my name. Tip for someone trying to renew/transfer.

[Mr.mitsuvolk]

Originally Posted by fast_elegance

The car is now transferred under my name. I called up maruti insurance and now they have quoted a higher premium in order to renew/transfer the insurance, as the NCB is not applicable.

Is it possible for me to renew the insurance 1st i.e. June 7th and then get it transferred under my name for Rs. 270. The difference in premium is aproximately 2k. Not really sure.

I now realize that, i should have waited for the insurance to be renewed before getting the vehicle transferred in my name. Tip for someone trying to renew/transfer.

The NCB of a particular insurance policy does not get transferred to the new owner.
In your case even if you would have renewed the policy beforehand (i.e. In The first owner's name) you would have had to pay the balance (discount which you got in the form of NCB) when you approach the insurance company for transferring the policy in your name which means rs 270 + NCB amount.
Therefore in both cases you will not get the benefit of NCB as it gets nullified if the car is transferred and the first owner does not use it for another insurance policy.

[fast_elegance]

Originally Posted by Mr.mitsuvolk

Therefore in both cases you will not get the benefit of NCB as it gets nullified if the car is transferred and the first owner does not use it for another insurance policy.

Thanks Mr.mitsuvolk. You just made me feel better. I was feeling like a stupid from the time I heard the new quote amount.

I will verify and look for some discount while renewing/transferring. Also, previously I was the nominee for the insurance. Does that provide any benefit?

[Mr.mitsuvolk]

Originally Posted by fast_elegance

Does that provide any benefit?

Don't feel stupid, even I used to find insurance very complicated.
The only discount that you can get now is by bargaining with the insurance provider by proving your loyalty (if you are not switching insurance companies).
You may want to compare insurance premiums of various other companies as well through some popular online sites. The premium of some insurance companies may even be less than the discounted insurance premium provided by your current insurance company.

[tarunactivity]

Hi folks,

I have a few queries regarding the payment from Insurance company, the refund of Road tax, and the ownership of the vehicle in case of salvage / Total loss.


1. Regarding payout in case of total loss
http://www.thehindubusinessline.com/...cle2961031.ece

This article states that the insurer must pay 100% of IDV regardless of the salvage value.

2. Refund of road tax in case of total loss

According to this article, we can apply for a refund of road tax when going for total loss .
Vehicle fully damaged_ Get life tax refund.pdf

3. Ownership of the vehicle in case of total loss

Who is the owner of the vehicle? If we decide to go for salvage, can we still cancel the registration, and then get the salvage cost over and above the IDV ?


Based on my understanding of the first article:

1. Insurer must pay ~100% of IDV in case of a total loss
2. Salvage value is not a part of the IDV estimate - we can get this amount from the salvage dealer.
3. The vehicle is still owned by us,and we can cancel the registration?

Do help me understand the actual terms of the insurance claim for Total loss?

[NomadDervesh]

Hello people,

Insurance for my Polo is due next month. I will be completing 2 years of ownership.
My current policy is with TAIG (Pearl Plan), with IDV of INR 500000.
Now, i have got quotes from three insurers which are as follows (all 0% dep plans) -

1.0 Bajaj Allianz, IDV INR 499996, premium INR 17556.
2.0 TAIG, IDV INR 500000, premium INR 17454.
3.0 L&T Finance, IDV INR 450000, premium INR 13962.

I have also requested a quote from Bhati AXA, but yet to hear back from them.

I have not made any claim in my current policy.
I called up the VW workshop, where i usually go for service and all to inquire about the cashless tie up with L&T Finance. They did not sound sure about that but promised me a call back from their insurance guy.
On the other hand the L&T people seems quite sure about the cashless tie up with VW.

Requesting the experts to throw some light forward.