[ghodlur]

Originally Posted by amit162

At the persuasion of TATA Motors , against my insurance claim they have now made an estimate of Rs 640000 and say I have to pay estimate charge of Rs 14000.

Originally Posted by amit162

I think that is the idea since they do not want to repair it. Instead just get the insurance company to pay IDV. But the estimate preparing charges appear pretty high and I may barely get 50k or less. Plus my car was absolutely without any issues and going on fine.

Sorry but your repair costs are creating a confusion. Is it Rs 640000/- or Rs 64000/-. If former then I am surprised that the repair expenses can exceed the present ex showroom cost of the car or for that matter double it. Then the car should be declared as totalled. This is pure commonsense. If the latter, then does the repair cost exceed 75% of the current IDV? If not then I think the estimate should be correct.

Originally Posted by devilicious

Suggestions??

I would suggest to calculate the correct TDV for the next year after deducting the depreciation. Based on this calculated IDV, get the quotes either online (preferable) or offline. Confirm with which Insurance co does the Tata workshop have a cashless tie up. Also enquire with the workshop for the Insurance co claims process feedback. Compare the quotes and take an informed decision.

Are the quotes you mentioned with zero dep add on cover too?

[amit162]

@ghodlur
The estimated repair cost is Rs. 6.4 lakhs. Exorbitant by any standard. I am thinking should I ask the insurance company to suggest some other workshop for a more realistic estimate.

[mayankk]

Originally Posted by amit162

@ghodlur
The estimated repair cost is Rs. 6.4 lakhs. Exorbitant by any standard. I am thinking should I ask the insurance company to suggest some other workshop for a more realistic estimate.

You should.
Also,mark out a mail to various heads at tata, and automags, asking how repairs can cost as much as two cars? There was a skoda on the forum with similar repair estimates, but that was only enough to get one skoda.
What madness is this? Under what heads are they preparing the estimate? Labour etc? Thats what it would conceivably be.
If I had a workshop, and I had quoted something like this, AND it was accepted, I would just buy a new nano for the customer, pocket the rest.

[amit162]

Any one having emails of TATA Motor's Heads? Please let me know. Thanks.

[devilicious]

Originally Posted by ghodlur

I would suggest to calculate the correct TDV for the next year after deducting the depreciation. Based on this calculated IDV, get the quotes either online (preferable) or offline. Confirm with which Insurance co does the Tata workshop have a cashless tie up. Also enquire with the workshop for the Insurance co claims process feedback. Compare the quotes and take an informed decision.

Are the quotes you mentioned with zero dep add on cover too?

I've calculated IDV by subtracting 10% from last year's and came out to be ~₹5,12,000. Bajaj Allia told me they've cashless tie-up with my dealership. Need to take a feedback from dealership directly.

And yes, the quote is with Zero Dep and ₹200000 cover for all 5 passengers. Not sure if I should look for any other add-ons.

PS: Quite surprised to know that these policy comparison websites are good for nothing since there was a difference of about ₹6000 in premium for the policy of same company (Bajaj Alli.) and with same add-ons when bargained with Bajaj directly.

[ghodlur]

Originally Posted by devilicious

Not sure if I should look for any other add-ons.

PS: Quite surprised to know that these policy comparison websites are good for nothing since there was a difference of about ₹6000 in premium for the policy of same company (Bajaj Alli.) and with same add-ons when bargained with Bajaj directly.

NCB protection would be another useful add on cover as any claims would then not reduce the NCB but keep it intact. Another useful add on cover would be Consumable cover which will help save on the costs of the consumables required during claim. Both these add ons if you wish to buy would not cost a bomb but would be affordable. Please read the T&C of such add on covers before buying them.

It is therefore very much required to directly contact the Insurer on their website for a better quote. Comparison sites as they are meant to be should be used only for comparison.

[reverse_gear]

Originally Posted by ghodlur

Based on this calculated IDV, get the quotes either online (preferable) or offline.

My experience last 3-4 years has been much better doing directly offline with the insurance company as compared to online. Always been cheaper for me. Example: last month renewed with HDFC Ergo for my 1 year old Duster. I got it done all inclusive at 16k, same policy online (on policybazaar as well as insurance company sites) was nothing less than 21k. Similar experience on other occasions also for both my cars. Of course, this is only my experience, it's quite possible others find online better.

One thing I would say generally, quotes from the dealer are the absolute worst.

Originally Posted by ghodlur

NCB protection would be another useful add on cover as any claims would then not reduce the NCB but keep it intact.

Would be interested to know which insurance company provides NCB protection for mid range cars like the Zest. Have got this for higher end models, but have not been able to get for my Duster.

[praveen_v]

Originally Posted by richie4u

I am purchasing a new car soon. My Tata Nano has insurance with NCB of 45% so is there a way that I can transfer this NCB to my new vehicle? Just to point out I am not selling my Nano and I know that next year onwards my Nano will have 0% NCB if this is possible.So If this is indeed possible then I do I go about it,can someone list out the process I have to do. My insurer is Iffco Tokio.

Originally Posted by akj123

1. Approach your insurance company and tell them to cancel the current comprehensive insurance and issue a third-party only policy. Your experience with this approach may vary as they may be reluctant to do this and insist on a car sale papers; but it should be possible. I am not sure of finer details like if you have to pay NCB for the policy being cancelled etc.

Along similar lines, My insurance is up for renewal in the next 3 months and I am looking to get a new car while retaining the current one. Is it possible for me to renew the policy by getting a NCB letter and then renewing the policy by paying the full premium for the next year? Will the insurance provider agree to this or do I have to take some other route like going with a new provider for renewal after getting the NCB certificate from the current provider? My current insurance is with Tata-AIG.

[akj123]

Originally Posted by praveen_v

Along similar lines, My insurance is up for renewal in the next 3 months and I am looking to get a new car while retaining the current one. Is it possible for me to renew the policy by getting a NCB letter and then renewing the policy by paying the full premium for the next year? Will the insurance provider agree to this or do I have to take some other route like going with a new provider for renewal after getting the NCB certificate from the current provider? My current insurance is with Tata-AIG.

Not sure if I completely understand, but cannot have both a comprehensive insurance running on current car and claim NCB letter for it.

The normal procedure is to get NCB after selling car. Can cancel the comprehensive and get a third party only and then get the NCB letter, but would need to talk to your insurer's office - they may hesitate in doing this.

[praveen_v]

Originally Posted by akj123

Not sure if I completely understand, but cannot have both a comprehensive insurance running on current car and claim NCB letter for it.

The normal procedure is to get NCB after selling car. Can cancel the comprehensive and get a third party only and then get the NCB letter, but would need to talk to your insurer's office - they may hesitate in doing this.

I am basically looking to transfer the NCB from my current car to a new one.

1. When the insurance comes up for renewal, claim NCB letter (50%) and then renew the insurance with own damage+Third party cover by paying premium for next year with NCB as 0%. The NCB will now be reset to 0% since I am claiming the letter for it.
2. When I get a new car later this year, use the NCB letter to avail NCB benefit from the first year itself.

Is this possible? I have seen some members report transferring the NCB to a newer car without selling the old one but not sure if it will be applicable to my scenario.

[ghodlur]

Originally Posted by praveen_v

I am looking to get a new car while retaining the current one. Is it possible for me to renew the policy by getting a NCB letter and then renewing the policy by paying the full premium for the next year? Will the insurance provider agree to this or do I have to take some other route like going with a new provider for renewal after getting the NCB certificate from the current provider? My current insurance is with Tata-AIG.

Since you are not selling the old car, what you can do is apply for NCB letter. Insurance co will not give a NCB certificate per say but on the application will mention the NCB eligible. This is a sufficient documents for claiming NCB when buying Insurance for the new car. Once the Old car Insurance is up for renewal, buy only a TPL Insurance. You can also opt for a Comprehensive Insurance if you wish to.
Please note that the NCB goes with the owner and not with the car. If you are still the owner of your old car, you will not be eligible for NCB as you have already claimed the same for the new car. If you transfer the old car within family, then the family person can start taking the advantage of NCB on the old car.

Originally Posted by akj123

Not sure if I completely understand, but cannot have both a comprehensive insurance running on current car and claim NCB letter for it.

No need to claim the NCB letter, just know the eligibility of the same in writing from the old cr Insurance co.

Originally Posted by praveen_v

Is this possible? I have seen some members report transferring the NCB to a newer car without selling the old one but not sure if it will be applicable to my scenario.

It is possible to transfer the NCB of the current car to new car even when the old car is not being sold. But I would suggest transfer the old car to someone in the family so that that person can take the benefit of NCB.

[ghodlur]

Originally Posted by reverse_gear

Would be interested to know which insurance company provides NCB protection for mid range cars like the Zest. Have got this for higher end models, but have not been able to get for my Duster.

NCB protection is not car specific, but Insurance co specific. It is upto the Insurance co to offer this dd on cover. Currently the add on cover is offered by Royal Sundaram, Future Generali, Bharati Axa, HDFC Ergo, Tata AIG, Bajaj Allianz etc. I think all major players do offer the NCB protection add on cover.

[reverse_gear]

Originally Posted by ghodlur

NCB protection is not car specific, but Insurance co specific. It is upto the Insurance co to offer this dd on cover. Currently the add on cover is offered by Royal Sundaram, Future Generali, Bharati Axa, HDFC Ergo, Tata AIG, Bajaj Allianz etc. I think all major players do offer the NCB protection add on cover.

Not sure about this. I have had HDFC Ergo policy for the last 2 years on my Duster. They do not offer NCB protection coverage, as it is part of Platinum and Titanium plans only (in their definition), both of which are not available on the Duster. This add-on is offered only for higher end cars. Even if you see online, either directly on the HDFC Ergo site or on Policybazaar, you will not get the option of NCB protection.

The reason I know this is because the same HDFC Ergo had previously provided me a policy with NCB protection for my Jetta.

[T Y A G I]

Hi Team,

I am about to take the delivery of Scorpio S10 non 4x4. Dealer is pushing for zero dep insurance from Liberty Videocon.Please advice asap.

[ghodlur]

Originally Posted by T Y A G I

I am about to take the delivery of Scorpio S10 non 4x4. Dealer is pushing for zero dep insurance from Liberty Videocon.Please advice asap.

Does the Mahindra Workshop where you would service the car have a cashless tie up with Liberty Videocon? Get a confirmation before you buy. Also get the information about the claim process of Liberty Videocon as they are relatively new player in the car insurance segment.

I would suggest to buy the Comprehensive Insurance along with the Zero dep add on cover for your new car, at least during the initial years of ownership. Is the Insurance from Videocon provided free by the dealer??