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Old 20th December 2015, 23:19   #3541
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Originally Posted by COMMUTER View Post
I will be taking delivery of a Ford Figo 1.5 base in a week. The dealer has sternly refused the first year insurance offer citing the model as low margin one and has decided to pocket the insurance money. So I thought of taking insurance from outside to reduce what I pay for 'free' insurance. I have been quoted 14.5 k ( against 22k dealer quote) by oriental for Zero depreciation, bumper to bumper coverage. What's the caveat here? What are the points I should enquire about with the agent?
Go ahead with Oriental if your comfortable based on previous experience. Else stick to one of fords preferred insurer.
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Old 21st December 2015, 17:55   #3542
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Originally Posted by COMMUTER View Post
I will be taking delivery of a Ford Figo 1.5 base in a week. The dealer has sternly refused the first year insurance offer citing the model as low margin one and has decided to pocket the insurance money. So I thought of taking insurance from outside to reduce what I pay for 'free' insurance. I have been quoted 14.5 k ( against 22k dealer quote) by oriental for Zero depreciation, bumper to bumper coverage. What's the caveat here? What are the points I should enquire about with the agent?
There is no caveat. Dealers routinely over-charge for insurance, just as a way of making a margin. Both my cars are self-insured, at significantly lower rates as compared to dealer insurance.

This should not have an effect on claim process. Just ensure that you are satisfied with Oriental as an insurance company.
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Old 29th December 2015, 12:41   #3543
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Default Re: Automobile Insurance Queries? Ask me

My car is in the Ford bodyshop after an accident. I have B2B insurance and I have been informed that the repairs will be covered by it. (1 lakh for parts and about 50k for labour). But that I will have to bear the cost of consumables like nuts, bolts, bushes, etc. Is this correct?

Last edited by samaspire : 29th December 2015 at 12:42.
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Old 29th December 2015, 15:13   #3544
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Default Re: Automobile Insurance Queries? Ask me

Reposting my query..
I would appreciate if anyone can confirm the below i.e.

a) No vehicle insurance for buyer if policy is still in name of ex-owner.
b) A grace period of 14 days is allowed from the day the ownership details are updated in the RTO records for the buyer to get the insurance policy transferred in his name.

Is this correct?
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Old 31st December 2015, 09:55   #3545
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Hello people, I had an accident recently when I hit a black dog that was crossing the road in the night on the highway. Immediately after the accident, I got down and checked with torch light the extent of damages: The bumper lip had not cracked but deformed into a weird convoluted shape. All the front lights and indicators are working. I'm able to open and close the bonnet, but when I lock the car using the remote, there is a beep, which indicates one or more doors are not closed. I had read on the zest thread that one person had found that to be the hood switch which was causing the issue. Since I had a frontal impact, I suspect it is the same.There were no coolant leaks. I drove the vehicle in traffic conditions till home (~240 kms) and there was no overheating. Even two days later the radiator tank had same level (full) as before.

I have zero dep insurance with Royal sundaram (RS) and have now given it for repair at Concorde (Tata authorised) Body shop. The guy there is refusing to acknowledge that there is no issue with coolant circuit, saying that the radiator mounts are made of plastic. I had to get a little angry to even show that the lights were working perfectly. He is saying that he will have to remove the entire front bumper and check the radiator and condensor properly to see for damage. The RS surveyor was there to take copies of my RC and DL. He was kind enough to directly contact RS to get the insurance details, and forward me a copy.

I have begged the SA to please be careful with the car and be reasonable with the repairs. I have a bitter experience with Concorde at Perumbavoor when my Nano also had a worse fate. They had charged me for the left side headlight also, when the impact was on the front extreme right!

1. The Royal Sundaram guy made me sign a 'work done to my satisaction' note, which approves release of the money when work is done. When I protested, he was saying don't worry this is common procedure so that nothing gets delayed. I feel I shouldn't have done this?

2. Can I be present when they start taking apart the front end? The SA said sure, but I need to know when to go there. I want to be present, so that I can acertain that the radiator has no damages 'doctored/created' other than that from the original accident. This worries me to no end, because I'm sure RS will not pay me for the 'created' damage because they will attribute it to aggravation. The body shop would only stand to gain whoever pays. This worry is again due to my experience from the Nano

3. The SA had made a list of costs that the insurance company wouldn't pay . One of the items was 'salvage cost 8%'. This I did not understand, can anyone clarify what this is?

Thanks!
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Old 31st December 2015, 13:06   #3546
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by nijelj View Post
3. The SA had made a list of costs that the insurance company wouldn't pay . One of the items was 'salvage cost 8%'. This I did not understand, can anyone clarify what this is?

Thanks!
Since you have Zero dep, shouldn't all charges be paid by RS apart from the file charges whatever that comes out to be? In my understanding, that should be between RS and the dealership without you being drawn into it.
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Old 1st January 2016, 05:08   #3547
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Hello people, I had an accident recently when I hit a black dog..
2. Can I be present when they start taking apart the front end?

3. The SA had made a list of costs that the insurance company wouldn't pay . One of the items was 'salvage cost 8%'. This I did not understand, can anyone clarify what this is?

Thanks!
Update: Had called and reminded the SA's Boss to inform me while removing the bumper. He called me yesterday and I went there to see. By the time I reached, they had already removed the bumper. The impact seems to have been taken by the bumper only. The SA Boss was saying that there seems to be no leakage neither from the coolant circuit,nor from the AC condensor. He was saying that a new bumper would take some time to arrive, so whether he should heat the old bumper back into shape. I told him to keep the car until the new one comes. I received a message yesterday night saying that the Insurance surveyor has completed the checking
New question:
4. Even though I don't have the estimate, the damages cost may not amount to too much. If we already have the insurance company involved, and they have completed only the survey, can I stop them from processing any further, so that I can save atleast next year's NCB?
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Old 3rd January 2016, 09:24   #3548
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by samaspire View Post
My car is in the Ford bodyshop after an accident. I have B2B insurance and I have been informed that the repairs will be covered by it. (1 lakh for parts and about 50k for labour). But that I will have to bear the cost of consumables like nuts, bolts, bushes, etc. Is this correct?
Quoting my own post here because I have another query. Since my insurance outgo is 1.5 lakhs, how much would be my next year's premium. FYI I had paid 17,500 in November when I bought this car. This was b2b with a lot of add-ons.
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Old 3rd January 2016, 10:50   #3549
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Default Honda Assure Zero Dep Claim Info

Hi Guys,

My car, Honda City VMT, is just 9 months old and I have a bumper to bumper Zero Dep insurance by Honda Assure covered by ICICI Lombard. My dealer is Arya Honda Mumbai.

Unfortunately, last week I had a car crash where the damage was quite significant. While I have not got the survey or estimate yet, this would go in few lacs (3-4 lacs). The Survey would be done by tomorrow.

While speaking to the Honda service centre guy, he told me that even though I have B2B insurance, I will have to shell out roughly 10% of the damage cost from my pocket (Consumables, taxes and some other things). This is completely confusing for me as while selling it, they had told me that all I have to bare is Rs. 1000 in processing charge.

Is this correct and regular practice? Anyone else have a similar experience? How do I handle this if this is wrong?

I will share the quote and the amount I am being asked to pay by tomorrow or day after but this is really annoying as the whole reason one takes B2B insurance is to not worry about big cost.

I really need some quick help with this as I have to start the work on my car in the next week.
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Old 3rd January 2016, 10:52   #3550
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Default Re: Automobile Insurance Queries? Ask me

Hi Guys,

My car, Honda City VMT, is just 9 months old and I have a bumper to bumper Zero Dep insurance by Honda Assure covered by ICICI Lombard. My dealer is Arya Honda Mumbai.

Last week I had a car crash where the damage was quite significant. While I have not got the survey or estimate yet, this would go in few lacs (3-4 lacs). The Survey would be done by tomorrow.

While speaking to the Honda service centre guy, he told me that even though I have B2B insurance, I will have to shell out roughly 10% of the damage cost from my pocket (Consumables, taxes and some other things). This is completely confusing for me as while selling it, they had told me that all I have to bare is Rs. 1000 in processing charge.

Is this correct and regular practice? Anyone else have a similar experience? How do I handle this if this is wrong?

I will share the quote and the amount I am being asked to pay by tomorrow or day after but this is really annoying as the whole reason one takes B2B insurance is to not worry about big cost.

I really need some quick help with this as I have to start the work on my car in the next week.
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Old 3rd January 2016, 12:53   #3551
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Default Re: Honda Assure Zero Dep Claim Info

Quote:
Originally Posted by kushalshah View Post
Hi Guys,

My car, Honda City VMT, is just 9 months old and I have a bumper to bumper Zero Dep insurance by Honda Assure covered by ICICI Lombard. My dealer is Arya Honda Mumbai.

Unfortunately, last week I had a car crash where the damage was quite significant. While I have not got the survey or estimate yet, this would go in few lacs (3-4 lacs). The Survey would be done by tomorrow.

While speaking to the Honda service centre guy, he told me that even though I have B2B insurance, I will have to shell out roughly 10% of the damage cost from my pocket (Consumables, taxes and some other things). This is completely confusing for me as while selling it, they had told me that all I have to bare is Rs. 1000 in processing charge.

Is this correct and regular practice? Anyone else have a similar experience? How do I handle this if this is wrong?

I will share the quote and the amount I am being asked to pay by tomorrow or day after but this is really annoying as the whole reason one takes B2B insurance is to not worry about big cost.

I really need some quick help with this as I have to start the work on my car in the next week.
Take out half an hour to read your policy completely along with the terms and conditions. They cannot charge you anything beyond what is written in your policy. Policy is the contract between the insurer and the insured.
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Old 4th January 2016, 08:14   #3552
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by samaspire View Post
But that I will have to bear the cost of consumables like nuts, bolts, bushes, etc. Is this correct?
Yes that correct. Consumables are not part of zero dep or bumper to bumper ad on cover which you have taken.

Quote:
Originally Posted by samaspire View Post
Since my insurance outgo is 1.5 lakhs, how much would be my next year's premium.
Very difficult to say the premium amount since it depends on the IDV of the car and the Insurer's willingness to insure your car as you are now categorized as high risk customer. Surely you will lose the NCB for the year.

Quote:
Originally Posted by kushalshah View Post
While speaking to the Honda service centre guy, he told me that even though I have B2B insurance, I will have to shell out roughly 10% of the damage cost from my pocket (Consumables, taxes and some other things). This is completely confusing for me as while selling it, they had told me that all I have to bare is Rs. 1000 in processing charge.
Apart from the mandatory deduction of 1K (Pls confirm this with the Insurer)
you will have to bear the cost of the consumables. Hence it is very imp to read the add on cover inclusions and exclusions before buying.
Most Insurers these days smartly market the consumables add on cover separately which earlier used to a part of zero dep add on cover.
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Old 8th January 2016, 09:47   #3553
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Originally Posted by ghodlur View Post
If you opt for it, you will pay 1.5K + 1K during any claim. I normally do not opt for voluntary deductibles, take an informed decision.




Quote:
Originally Posted by RiGOD View Post
Yes, voluntary. There was an option to choose an amount for voluntary deductible inorder to save the premium and I chose Rs.1500. If it's left as zero the premium hovers somewhere around 21.5k. Will it be better if I leave it as zero?

(I have quoted a couple of slightly older posts on similar topic, OP please note)
A Question on voluntary deductible VD & NCB applied( order in which it is applied) which I noticed only this time. I opt for this VD clause consciously since last 2-3 renewals and it does help a bit.

In the LHS of the schedule (My 4Wheeler insurer is RS) , I see basic OD premium, then VD applied (deducted) and then NCB (in my case 50%). Shouldn't (or rather, couldn't?) the NCB be applied before VD, we could save a tidy sum if so. Are there specified norms around this 'order of application', or it varies across companies?
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Old 8th January 2016, 10:57   #3554
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Can the 1st owner (after he has signed & given the ownership transfer & insurance transfer) get the existing car insurance canceled for NCB / refund even before the ownership transfer is completed?

As of now, the registration transfer is in progress. As I understand, once this is completed, the 2nd owner can apply for the insurance transfer to his name. Is it possible for 1st owner to manipulate here in trying to get back his remaining insurance amount for the period till its expiry? (by adjusting it to his new car insurance premium?). I.e., is it possible to do so?

Also, can the 1st owner just claim his NCB part for his new car insurance? I believe it can be done only after I transfer the insurance to my name (after paying necessary delta due to the earlier NCB rebate provided). Right?

Last edited by null : 8th January 2016 at 11:12. Reason: NCB
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Old 8th January 2016, 11:28   #3555
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Shouldn't (or rather, couldn't?) the NCB be applied before VD, we could save a tidy sum if so.
The NCB is applied on the final OD premium which is calculated after all the deductions applicable (unfortunately). NCB deduction cannot be applied on the base OD premium. IRDA rules.

Quote:
Originally Posted by null View Post
Is it possible for 1st owner to manipulate here in trying to get back his remaining insurance amount for the period till its expiry? (by adjusting it to his new car insurance premium?).
The Insurance cannot be cancelled during the ownership transfer. You can apply for NCB to the Insurance co with the copy of the documents submitted during the ownership transfer and get the NCb certificate which can be used during the new car Insurance purchase.

You cannot get the amount back from the Insurance co for the remaining period of the Insurance policy but you can negotiate with the new owner for the amount paid as Insurance to be added in the car sale price.
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