Automobile Insurance Queries? Ask me

[praveen_v]

Originally Posted by BlackPanda

I have paid for the booking amount (10 K). In the welcome booklet SA has mentioned the insurance charges and calculated the total amount. He has offered me reliance B to B insurance for ~25k. Now that I think about it, I realise how much more cost effective it will be if I go for an insurance from outside. ALso, after reading several good reviews on TAIG, I'm inclined towards going for them.

My question is, can I ask him to remove the insurance amount from the total of the car without having to cancel the booking or do I have to cancel the booking and book another car?

No. You dont have to cancel the booking of the car to choose your own insurance. But since you have made an advance payment, the dealer may or may not agree to that right-away. If he does not agree, you can take a firmer stand that you will cancel the booking and go to another dealer. That will mostly be enough to get the dealer to back off and let you arrange for your own insurance.

[MDED]

Originally Posted by BlackPanda

I have paid for the booking amount (10 K). In the welcome booklet SA has mentioned the insurance charges and calculated the total amount. He has offered me reliance B to B insurance for ~25k.

Dear BlackPanda,

Congratulations on your new car booking. Dealers do pocket a fortune of income on sales of insurance and accessories.

It is part of their Cross sales strategy to pitch for the insurer with whom they have tie up. For example let me explain like this:
You must be having LPG connection at home. While taking a brand new LPG connection the gas dealers coerce the consumers in buying gas stove from them, irrespective of the circular issued by all PSU OMCs stating that purchasing hot plate or gas stove is not mandatory, however dealer staff will come for checking of your existing gas stove.

Hence, it's upto you to argue with the dealer and tell him that you will be taking insurance from outside and not from them. As other bhpians have pointed out that they had poor experience with Reliance. I personally feel that your decision should get swayed on the claim settlement performance of an insurer rather than the premium charged. I would also advise checking the proforma invoice of the dealer wherein they have stacked up all the charges. Nowadays all the insurance company while selling ZERO depreciation policy provide 24X7 roadside assistance too, hence you can save somewhere around Rs 4000 to 5000 on dealers RSA.
Discuss with your dealer and don't take insurance from them and preferably obtain proforma invoice mentioning insurance as nil from there side. I am assuming you might be opting for a vehicle loan, so corrected invoice is a must so that the banker is able to make fair assessment on your loan eligibility. You can shop for insurance online and submit insurance quote to your bankers separately.

If the dealer doesn't agree, I guess Calcutta is having loads of Hyundai dealers who would love to sell a car in FY end. I don't loose my home loan or car loan customer just because he is not taking insurance provided by me. The bread and butter of car dealer is sales and service of cars and not insurance.

Hope it helps.

[SR-71]

I have a strange query & I couldn't find a better thread to post this. I renewed the insurance for my Vento TDI with Tata AIG in mid Jan. The premium is about 15K and the IDV is 6L. Last week, I received a cheque from Tata AIG for Rs 8000 and odd. I was initially confused as I had not made any claims nor have I made any changes. I checked my online account which has an 'NOTNILENDORSEMENT' in the remarks section and Policy Status as ERF. However the claims section is rightfully empty.

I spoke to the customer care and they mentioned that my policy is still in effect and the IDV is the same (infact I have a mail trail with a copy of the policy sent again, that quotes the original details). They have absolutely no clue about this endorsement entry. Am pretty sure, Tata AIG did not just give away the money to me cause they love my business so much. Something is fishy here and the customer care hasn't been really helpful. Can someone guide me on this, Specially what a 'NOTNILENDORSEMENT' and and ERF policy status mean.

[BlackPanda]

This is what has happened: I spoke with the SA and he was more than happy to allow me to get insurance from outside...no pressure to take insurance from them (Mohan Motors). I also spoke with the insurance person in their showroom. As per him the insurance which they are giving is expensive (he acknowledges this fact) however, he says that they are giving me Hyundai Insurance. When and if a need arises the entire process of claiming insurance will be hassle free and I won't have to go anywhere else to claim insurance. As per him I will have a more of tension free ownership and insurance claiming process if I take insurance from them.

Being a first time car owner I am inclined to get swayed by their reasoning and willing to pay up the extra 5k in exchange for tension free insurance claiming process.

[Thad E Ginathom]

Originally Posted by BlackPanda

... ... ... however, he says that they are giving me Hyundai Insurance. When and if a need arises the entire process of claiming insurance will be hassle free and I won't have to go anywhere else to claim insurance. As per him I will have a more of tension free ownership and insurance claiming process if I take insurance from them.

Ah. A salesman, it seems.

[ghodlur]

Originally Posted by SR-71

Can someone guide me on this, Specially what a 'NOTNILENDORSEMENT' and and ERF policy status mean.

Thats quite strange. I think this is a case of mistaken identity Tata AIG must have sent the cheque to you instead of someone else if the customer care do not have any logical explanation to this.

IMO NOTNILENDORSEMENT must mean Notional Endorsement and got something to do with a temporary issual of policy. If you can confirm from the policy copy if the policy is already issue (preferably with original stamping and signatures) or else mail them asking for the clarity. ERF must be a TATA AIG term

Originally Posted by BlackPanda

As per him I will have a more of tension free ownership and insurance claiming process if I take insurance from them.

Classic case of reverse psychology.

[Alive2Drive]

Hi,

A quick question ! My Father in law just bought a second hand maruti swift and the name on the RC is incorrect. Unfortunately, the name on the RC and the insurance policy has to match hence the name on the policy is also incorrect. Now, we are planning to get the name corrected on the insurance policy and would like to understand if this will cause the NCB to go off. Any other factors to be considered will be appreciated.

[ghodlur]

Originally Posted by Alive2Drive

would like to understand if this will cause the NCB to go off. Any other factors to be considered will be appreciated.

No the NCB will be intact provided the name of you FIL is same as in Insurance policy. I would suggest to apply for the name correction for the RC at the RTO & Insurance policy at the Insurer simultaneously. The list of documents reqd for the same would need to be confirmed.

[glenmz]

Need urgent advice. Our car just met with an accident. Its a preowned car. Name change in rc happened last week. We are yet to change the insurance transfer. Will we get a claim?

[schakravarthy]

Originally Posted by glenmz

Need urgent advice. Our car just met with an accident. Its a preowned car. Name change in rc happened last week. We are yet to change the insurance transfer. Will we get a claim?

I'd think not. For a claim to be processed, the name on both the papers should be same.

You could have initiated insurance transfer right after submitting the documents for the ownership transfer at the RTO. The acknowledgement given at RTO, along with photocopies of 29/30 form is enough to initiate the transfer of insurance.

[ani_meher]

Asking this query on behalf of a colleague.

He met with an accident where a bike rider suddenly changed lanes and came in front of the car. Due to the resultant collision, the biker was injured and was taken to the hospital. My colleague has paid some 7,000 already for the biker's injury. Now he is out of hospital, and the hospital bills are 11,000, and he is demanding the excess from the car owner. There is no police case registered as yet (and as per the colleague, very negligible chance of being so).

Additionally, the bike has no insurance, so biker is pushing for getting the bike repaired at car owner's cost as well.

So there are multiple questions:

The insurance people are asking the car owner to give an undertaking that there was no third party injury. But what if after some time the biker decides to file a case? In that case the car owner will be on his own, with no third party coverage. What can be done in this case?
What about the motorcycle repair cost?
Any thoughts on the above scenario?

Being a new driver, he would greatly appreciate any experienced replies.

[mayankk]

Originally Posted by ani_meher

Asking this query on behalf of a colleague.

He met with an accident where a bike rider suddenly changed lanes and came in front of the car. Due to the resultant collision, the biker was injured and was taken to the hospital. My colleague has paid some 7,000 already for the biker's injury. Now he is out of hospital, and the hospital bills are 11,000, and he is demanding the excess from the car owner. There is no police case registered as yet (and as per the colleague, very negligible chance of being so).

Additionally, the bike has no insurance, so biker is pushing for getting the bike repaired at car owner's cost as well.

So there are multiple questions:

The insurance people are asking the car owner to give an undertaking that there was no third party injury. But what if after some time the biker decides to file a case? In that case the car owner will be on his own, with no third party coverage. What can be done in this case?
What about the motorcycle repair cost?
Any thoughts on the above scenario?

Being a new driver, he would greatly appreciate any experienced replies.

Tell him to to tell the biker to file an FIR first of all. Whatever payment required will be made as judged by the courts. The insurance firms will handle both the case, and the payment. There is absolutely NO necessity of paying even a rupee more.
I'll try and find my own posts and experiences on this, from just a couple of months back, and PM you.


EDIT:
http://www.team-bhp.com/forum/street...ml#post3885817
http://www.team-bhp.com/forum/street...ml#post3885856
http://www.team-bhp.com/forum/street...ml#post3885892
http://www.team-bhp.com/forum/street...ml#post3900002
http://www.team-bhp.com/forum/street...ml#post3912991
http://www.team-bhp.com/forum/street...ml#post3914238

[ghodlur]

Originally Posted by ani_meher

Being a new driver, he would greatly appreciate any experienced replies.

Since your friend has already done his bit by getting the biker to the hospital and paying the initial cost (which was again debatable)of the hospital treatment, he should not pay a single penny more as rightly said by mayankk. The first right thing to do was to file a FIR with the cops as this will prevent any future legal complications. Since the biker did not have any insurance on the bike, he is already on the other side of the law. Hence questions of any repair amount for the bike does not arise at all and neither is your friend responsible for that.

The biker should be sternly told that since he was the one who broke the traffic rules he would be at the receiving end in case of a police complaint. The only bad part in this is that your friend does not have nay proof of the sudden lane changing. If the biker wishes to claim the repair amount and additional hospital charges, he will have to get it after the court judgement which may take months. Also tell your friend to warn the biker that if a police complaint is done both the vehicles will be impounded till the announcement from court and both will be left without any vehicles. If the bike is the only source of the biker for movement to earn his daily bread, he will act sensibly and not press for the repair charges.

This incident has reinforced my belief to further more get the dashcam and at the earliest. I am starting my search this very moment.

[ani_meher]

Thanks for the replies guys. My friend informed me that he has paid further 4k to the biker, and in lieu of that, he got a indemnity bond from the biker with his and the bike's document copies, stating that the biker has received the 10k and has no further claims at all in future.

Accidents are really panic inducing situations, and the soft party always gets victimized, I feel. Any opinions about dash cams?

[nettooran]

So this is the scenario: My car insurance renewal date is on 19th April. I saw the information of premium hike in newspapers and thus as a precaution, I decided to renew before hike happens. I renewed the insurance on 25th of march with a NCB of 25%, through a different provider. The new insurance start date was 19th April itself.

Now , I met with a minor accident on the 1st of April. Though the car was in running condition, the front bumper was completely damaged. Along with that there was already some work to be done on the fender. I gave it for repair and claimed insurance.

Should I intimate my new provider about this claim and forgo my NCB.? Will he be charging as per new rates and the most important, Id I dont give an intimation and need to claim my insurance sometime later, will my claim be rejected saying that I kept them in the dark about my claim in the last insurance?

Any thoughts?