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Old 15th October 2015, 19:50   #3451
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Default Re: Automobile Insurance Queries? Ask me

Recently bought a car (used) and the RC transfer is underway. The insurance will expire in a few weeks. The existing policy has a 35% NCB and the previous owner hasn't made any claims and isn't willing to claim/transfer it. Contacted a few companies and the IDV quoted by all of them was quite underwhelming or the premium was overwhelming. One insurer quoted something which had a good IDV and premium. However, the person said first I've to take the policy with the previous owners name and then change to my name as soon as the RC with my name and details reach me and the transfer would cost only 100 bucks or so. The premium is cheaper because they're giving the NCB.
Is this normal/acceptable or are they taking me for a ride ?
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Old 15th October 2015, 22:13   #3452
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Vysakh View Post
Recently bought a car (used) and the RC transfer is underway. The insurance will expire in a few weeks. The existing policy has a 35% NCB and the previous owner hasn't made any claims and isn't willing to claim/transfer it. Contacted a few companies and the IDV quoted by all of them was quite underwhelming or the premium was overwhelming. One insurer quoted something which had a good IDV and premium. However, the person said first I've to take the policy with the previous owners name and then change to my name as soon as the RC with my name and details reach me and the transfer would cost only 100 bucks or so. The premium is cheaper because they're giving the NCB.
Is this normal/acceptable or are they taking me for a ride ?
They are taking you for a ride - NCB cannot be transferred from one person to other. So as soon as you transfer the policy to your name - you will have to repay the NCB value to the insurance company.
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Old 18th October 2015, 21:51   #3453
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Looking into insurance aspect for a new car that am planning to purchase. The price quoted by dealer (~40k) for the ford-preferred zero-dep seems quite high. When i checked online, i see that one of the insurance companies (Bajaj Allianz) it actually comes to same.

However others like Tata-AIG, Royal-Sundaram are cheaper by 10-15k (for the same IDV). I am surprised to see so much variation.

L&T seems to be even cheaper but they are newer (I think) and may not have cashless with Ford.
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Old 18th October 2015, 22:26   #3454
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Quote:
Originally Posted by akj123 View Post
Looking into insurance aspect for a new car that am planning to purchase. The price quoted by dealer (~40k) for the ford-preferred zero-dep seems quite high. When i checked online, i see that one of the insurance companies (Bajaj Allianz) it actually comes to same.

However others like Tata-AIG, Royal-Sundaram are cheaper by 10-15k (for the same IDV). I am surprised to see so much variation.

L&T seems to be even cheaper but they are newer (I think) and may not have cashless with Ford.
Which car is it? 40k is too much, the dealers generally have a tieup with the insurance folks and quote a higher amount for new cars. The online quotes should have been cheaper. Take insurance from outside, if the dealer still insists in buying insurance from them, then write a mail to Ford. Ford had tie up with 4 companies and Royal sundaram is one of them.
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Old 18th October 2015, 22:33   #3455
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Originally Posted by sansvk View Post
Which car is it? 40k is too much, the dealers generally have a tieup with the insurance folks and quote a higher amount for new cars. The online quotes should have been cheaper. Take insurance from outside, if the dealer still insists in buying insurance from them, then write a mail to Ford. Ford had tie up with 4 companies and Royal sundaram is one of them.
It's Ecosport AT. I am trying to negotiate with dealer to get insurance from outside and if possible transfer my 50% NCB also, that will be a significant saving. Yes will talk to Royal Sundaram directly too. I think first course of action for me is to get NCB letter for my current insurance.
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Old 19th October 2015, 16:31   #3456
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Originally Posted by Grand Drive View Post
Please refer this link to decode Ford's VIN.
I have followed the link and have indeed got all the details for my Figo, to be brought home on Dussehera!

I have another query though, I am getting Insurance from outside, so my insurance agent is asking for Engine and Chasis number.

My SA has only provided me the VIN number and told me that for Ford it's enough. They don't have separate Engine and Chasis number, which I don't believe.

Can someone please help me in this regard?
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Old 19th October 2015, 19:10   #3457
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Hi Team,

Sadly,today a bike rider with pillion hit my WagonR in head on collision.The result is windshield damaged, right side head light damaged, front bumper damaged , right side panel damaged, bonnet damaged, fog lamp damaged and few other hidden parts.My insurance is from Bajaj Allianz and the insurance policy is Zero depreciation.

My queries are mentioned below:-

1. Can I consider this policy as cashless ?
2. I tried calling the customer care, and they say that all the policies are cashless depending upon where you get the repairs done.Is it true?
3. My father went to Regent Automobiles in Ghaziabad ( estimated repair cost 25000 to 30000) and Fair Deal Automobiles in Sahibabad ( estimated repair cost 35000-40000).Both of the dealers say that I need to pay 30%
of the repair cost.I feel cheated somehow.Can someone explain what advantage I have by Zero depreciation policy if I have to pay 30% of the repair cost ?

Luckily my mother was rear seated and driver was driving the car and during overtake this happened.Both were saved. But the bike rides were badly hurt.My mother took them to hospital and did all necessary.Somehow my relations with my dad are over strained due to personal reasons and he took this incident as a question over my capabilities in choosing the insurance agency.

Since 2006-2012 our all the cars were insured by Oriental Insurance and by the God's grace, never ever such need arise.This WagonR is 2011 model and its insured by Bajaj since 2013.I renewed the insurance this year in January seeking the Zero depreciation policy and paying 10000 INR as the insurance for 2011 model.

Now, the car is with Regent and I have already filed the claim in Bajaj Allianz.My only worry is that If somehow I have to pay 30% of the repair then my Dad is surely gonna think twice over my any decision.

Pics of the damage are attached for advice.For the first time I feel heartbroken looking at the pics since I am not in India as of now.

Please help.

Regards,
Lalit
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Automobile Insurance Queries? Ask me-img20151019wa0003.jpg  

Automobile Insurance Queries? Ask me-img20151019wa0002.jpg  

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Old 20th October 2015, 08:34   #3458
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ethanhunt123 View Post
When i go for a NCB transfer - will i get a certificate for 20% NCB or 25% NCB ? Also - which insurance company would i need to approach - Royal Sundaram or Bajaj Allianz.
Not sure if this is answered. You are eligible for 20% as NCB during the transfer. You will have apply for NCB certificate from Royal Sundaram your present Insurer.

Quote:
Originally Posted by T Y A G I View Post
1. Can I consider this policy as cashless ?
2. I tried calling the customer care, and they say that all the policies are cashless depending upon where you get the repairs done.Is it true?
3. My father went to Regent Automobiles in Ghaziabad ( estimated repair cost 25000 to 30000) and Fair Deal Automobiles in Sahibabad ( estimated repair cost 35000-40000).Both of the dealers say that I need to pay 30%
of the repair cost.I feel cheated somehow.Can someone explain what advantage I have by Zero depreciation policy if I have to pay 30% of the repair cost ?
Lalit,

Answering your questions serially:
1) Generally the Insurance co have a cashless tie up with workshops where the Insurance co will directly pay their liability to the workshop directly without you being involved. There is nothing called as cashless policy.
2) I suppose above answers this too.
3) If you have a zero dep add on cover along with the Insurance co, then you don't have to pay for anything except for the consumables cost and the compulsory deduction amount. Is it clearly written on your policy about the zero dep add on cover?? Did you pay an additional amount over and above the OD and TP premiums for the zero dep cover?

The 30% of the repair cost can be the consumable costs. Pls confirm with the workshop.
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Old 20th October 2015, 11:03   #3459
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by T Y A G I View Post

1. Can I consider this policy as cashless ?
2. I tried calling the customer care, and they say that all the policies are cashless depending upon where you get the repairs done.Is it true?
3. My father went to Regent Automobiles in Ghaziabad ( estimated repair cost 25000 to 30000) and Fair Deal Automobiles in Sahibabad ( estimated repair cost 35000-40000).Both of the dealers say that I need to pay 30%
of the repair cost.I feel cheated somehow.Can someone explain what advantage I have by Zero depreciation policy if I have to pay 30% of the repair cost ?

Luckily my mother was rear seated and driver was driving the car and during overtake this happened.Both were saved. But the bike rides were badly hurt.My mother took them to hospital and did all necessary.Somehow my relations with my dad are over strained due to personal reasons and he took this incident as a question over my capabilities in choosing the insurance agency.

Since 2006-2012 our all the cars were insured by Oriental Insurance and by the God's grace, never ever such need arise.This WagonR is 2011 model and its insured by Bajaj since 2013.I renewed the insurance this year in January seeking the Zero depreciation policy and paying 10000 INR as the insurance for 2011 model.

Now, the car is with Regent and I have already filed the claim in Bajaj Allianz.My only worry is that If somehow I have to pay 30% of the repair then my Dad is surely gonna think twice over my any decision.

Pics of the damage are attached for advice.For the first time I feel heartbroken looking at the pics since I am not in India as of now.

Please help.

Regards,
Lalit
Lalit,

Sorry for your accident. Typical zero-dep should cover all costs except consumables and mandatory deduction. There are policies which also cover consumables. Please do not rely blindly on what the dealer or insurance company tells you, one of you has to ask them for an itemised cost estimate and check all details of what is subject to coverage. Is there someone who can do this while you are abroad?

Your policy is also supposed to cover the third party injury. So, if you are paying for treatment of the bike riders, please consider including the cost of treatment as part of the insurance claim.

Lastly, do not take the incident very badly (same goes for your father also). These things are part and parcel of life on the road and there is no point getting stressed over a few thousand rupees either way. End of the day, we should be thankful that your mom and driver were not hurt and that's the most important thing.
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Old 24th October 2015, 19:34   #3460
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Default Re: Automobile Insurance Queries? Ask me

My car is now 5 years old (always insured with bajajalianz) and I now want to move from comprehensive coverage to third party liability only, since my usage is very low.
Surprisingly, bajajalianz website doesn't provide option to convert comprehensive to third part liablity only while tying to renew online.
Can anyone help on how to go about convering a comprehensive coverage to third party liability only coverage while renewal?
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Old 25th October 2015, 11:47   #3461
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by WindRide View Post
Can anyone help on how to go about convering a comprehensive coverage to third party liability only coverage while renewal?
It has been mandatory by IRDA that every Insurance co should offer TPL as basic Insurance. If BA is trying to act smart, remind them of this rule. If they are still adamant, try to buy the TPL Insurance from other Insurance co. You dont have to stick to only those who have cashless tie up with the workshops.

I would still suggest to stick to comprehensive coverage and not not buying TPL policy. Claiming Insurance against TPL is still a cumbersome process in the country.
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Old 25th October 2015, 12:00   #3462
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by WindRide View Post
My car is now 5 years old (always insured with bajajalianz) and I now want to move from comprehensive coverage to third party liability only, since my usage is very low.
Surprisingly, bajajalianz website doesn't provide option to convert comprehensive to third part liablity only while tying to renew online.
Try this: http://general.bajajallianz.com/Moto....jsp?p_type=TP
If you want an alternate provider, try HDFC Ergo: https://www.hdfcergo.com/OnlineProdu...selection.aspx

Note that TP insurance rates are standardized and fixed by IRDA - its Rs. 1598 for passenger cars.
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Old 25th October 2015, 16:42   #3463
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by WindRide View Post
My car is now 5 years old (always insured with bajajalianz) and I now want to move from comprehensive coverage to third party liability only, since my usage is very low.
Surprisingly, bajajalianz website doesn't provide option to convert comprehensive to third part liablity only while tying to renew online.
Can anyone help on how to go about convering a comprehensive coverage to third party liability only coverage while renewal?
I am not sure if you can do this online, but it is possible at their branch. Since you are in Bangalore, you can go to the Bajaj Allianz office in Rajajinagar (building: Golden heights) which is their main branch. The others are satellite branches and may not take this request.

There you can request for cancellation of the comprehensive, take a new TP policy and pay for it by card etc. Perhaps you can do it just before the renewal time.
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Old 27th October 2015, 18:47   #3464
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Default Re: Automobile Insurance Queries? Ask me

My Aria met with and accident in march 2014. The details detailed story is available here

http://www.team-bhp.com/forum/test-d...ccident-6.html

The summary is
IDV was 11.6 lacs
Workshop repair estimate 17 lacs
Insurance company insisted that their liability is only 5 lacs hence car must be repaired
The car was repaired, total repair bill is 10.97 lacs
The company didnt accept engine repair as their liability and have put that burden on me. The final computation is as follows:
Total parts cost with taxes: Rs 866103.11
Total labour: Rs 57000
Total cost of repairs: Rs 923103
Depreciation amount: Rs 299,230.37
Insurance companies liability: Rs 577203
Now IRDAI guidelines says " IDV shall be treated as the ‘Market Value’ throughout the policy period without any further depreciation for the purpose of Total Loss (TL) / Constructive Total Loss (CTL) claims.

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and / or repair of the vehicle, subject to terms and conditions of the policy, exceeds 75% of the IDV of the vehicle. "

Though the total cost of repair is more than 75% of IDV, the insurance company insists that since their liability is less that 75% of IDV hence i cannot claim total loss. No where i could find the term company's liability in total loss case.
Is my case a total loss one or am i getting it wrong?

Also the insurance company insists that the engine kept running after the accident hence all the engine damage is consequential and out of company's liability. With such an extensive damage its impossible for the engine to remain running. Even if i believe the theory that the engine might be running its beyond the control of driver. How does that constitute a total loss?

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Old 27th October 2015, 21:57   #3465
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Default Re: Automobile Insurance Queries? Ask me

Is there a limit for the number of claims that can be made with a bumper to bumper policy? Some agent said it's valid only for 2 claims. After that it turns into a comprehensive policy for the rest of the year
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