[Alton]

Reliance General Insurance gave me an NCB for 20% on my MJD for IDV:417,757 ,premium at Rs.8571/.I bought the insurance at the Fiat dealer here.
Surprising part is there was a claim for Rs.12000/ for Front bumper and left fog lamp just 3 months ago!!!!! I even mentioned casually about the claim to the lady on the desk.She dint bother much,was busy typing out my details.
I got the proposal stamped by RGIL(Reliance insurance) but am now beginning to doubt if I may have some problems in future on this.i.e maybe the insurance company finds out the fault on NCB and void the insurance. etc.
Gurus,please help and advise.

[rjvora_2000]

Originally Posted by Alton

Surprising part is there was a claim for Rs.12000/ for Front bumper and left fog lamp just 3 months ago!!!!! I even mentioned casually about the claim to the lady on the desk.She dint bother much,was busy typing out my details.
I got the proposal stamped by RGIL(Reliance insurance) but am now beginning to doubt if I may have some problems in future on this.i.e maybe the insurance company finds out the fault on NCB and void the insurance. etc.

You have made a claim and dealer is giving you a NCB discount of only 20% or it is other discount of 20%?

There are two type of Discount in the policy one is NCB and other is 'other discount' - Which one you are getting?

Originally Posted by rammishra

I was owning an Alto Vx which i have sold recently. The insurance of the vehicle was valid till 31 Aug 09.I have obtained 25% NCB from new india assurance today.
I am buying a new Indica Vista in the first week of september. Currently there is free insurance offer going on Vista, but since i am buying Vista through CSD, dealer willing to give me only 60% of free insurance.My questions are as follows:
1) Is Dealer right in offering me only 60% offer of free insurance to me?or is he eating some money from my free insurance.I confirmed from Tata Mototrs regional office, they said dealer can not offer me more than 60%.
2) How effectively i can best utilise my 25% NCB. Should i use it in first insurance of my new car? NCB certificate says it is valid for 3 years.

I am not sure how this free insurance is working may be some one can point me if my thoughts are wrong here. Normally dealer's offer discounts when we buy a car. In case of free insurance they don't offer any discount.

Now you are saying that dealer will pay only 60% of premium and rest you have pay so I think what you have to do is show them the NCB certificate and tell them 60% you pay 25% you have certificate and rest 15% you will pay them. - I think this should be the best way to do the business. Have you discuss this issue with your dealer what was his opinion on this issue.

If some one knows how exactly this works please post the details.

Originally Posted by Dicky_GT

I currently have a bajaj allianz insurance and planning to switch to Bharti AXA i own a i10 bought last year itself. my dealer has suggested me this insurance. some pointers:
1) the value depreciation they doing is 10% (Bharti AXA)
2) instead of discount i am getting 2 free service coupons
3) the quote i have got from other companies with discount is somewhere close to the same amount maybe a 500 rs here and there but the depreciation is 15%
i am totally in opinion of Bharti AXA but dont know many friends who have it.
Moreover some of the companies are offering very low premium for a comprehensive insurance which raises a doubt in my mind if there is any loop holes or if somestuff is not covered. Would require your expertise on the same.

On the first renewal I normally suggest to go for 20% depreciation. Ask for discount as every company will give you that. Ask your dealer you will go to some other company if you don't get the discount and those service coupons.

You are currently insured with one of the best insurance company why you are changing the insurance company? (I am not saying that Bharti is not good but Bajaj is the best in the business)

Your total saving on the insurance for first year has to be :-
1. 20% Depreciation
2. 20% NCB (If you have not made any claim in the first year)
3. 20% to 40% other discount. (This depends on how much you bargain and which is your car make.)

[misquitas]

Originally Posted by stefanm

Which insurance co/broker did you use, as my insurance is up for renewal in 2 months time? need to get a decent quote.

My Matiz car (bought in 2005) was insured with United India Insurance (UIA). I bought the Alto LXI in May 2008 and sold the Matiz in June 2008.
Since I had the Matiz for two days after I bought the Alto, I could not obtain a NCB.

The Alto LXI came with the first-year insurance, so there was no problem. Shortly before I decided to renew the Alto insurance with Maruti's own insurance (don't know what they are officially called), I was asked by Maruti personnel to obtain a NCB certificate from UIA.

The UIA people were not too pleased that I was shifting to Maruti Insurance, but they had little option to deny me the NCB certificate. This certificate (basically, a computer printout to ascertain the nature of the NCB) was then handed over to the MUL insurance and I got about Rs 2000 off on my renewed insurance with MUL.

Hope this is of some help to you.
Regards, Melvyn

[rjvora_2000]

Got one idea how to bring down your insurance renewal premium!!!

On renewal of your car insurance talk to Icici Lombard for renewal quote and then share that quote with all the insurance company all the insurance company will bring down the rates and then go will any other company for insurance.

Just today I did this. Got one quotation from Icici Lombard and shown it to Bajaj Allianz they came down till 45% discount + 25% NCB. Icici had quoted 50% discount + 25% NCB.

[Alton]

[quote=rjvora_2000;1455989]You have made a claim and dealer is giving you a NCB discount of only 20% or it is other discount of 20%?

There are two type of Discount in the policy one is NCB and other is 'other discount' - Which one you are getting?


The proposal form doesnt mention anything.But I remember the clerk telling me that combined discount of 40% on both premium and NCB is given to me.Maybe the policy gives the breakup when it arrives in 30 days.

[bj96]

One silly question


Can we use NCB certificate issued against a no claim on a two wheeler for a four wheeler?

My insurer has just given me a NCB certificate (valid for three years) for my 8 year old Kinetic which just mentions the vehicle number and no other trace if it was a car or a scooter. Assuming one year down the line I buy a new car and produce this certificate, may be in a different town, to a different insurer- how will they figure out that NCB was for a two wheeler?

-BJ

[rjvora_2000]

Under normal condition NCB certificates show that they are for two wheeler or for three wheeler, is that is not written on it?

[AshokSawhney]

I have Maruti Insurance for my SX4 ZXI, 2007 model, which is coming up for renewal on 23 September. I was surprised to learn that the "Maruti Insurance" quotation is Rs.2000/- plus more than the "National Insurance" quotation, though Maruti is also tying up with National to give the insurance cover. The difference is because Maruti uses a rating of 3.343 %, whereas National uses 2.34 %. As a result, for the same IDV of Rs.4,16,850/- and all other parametres being the same, the total premium works out to :

(a) Maruti Insurance Rs.15,636/-

(b) National Insurance Rs.13,328/-

Maruti Insurance quotation is the same from a number of dealers that I tried in Noida / Delhi. They say that they charge a higher rating of 3.343 % as they provide "cash less repair facility" and also the same can be availed of "anywhere in India". The "cash less" part is also available from any private Insurance company like Bajaj whose quotation is even lesser Rs.11,600/-. I wonder whether it is alright to pay Rs.2000/-to Rs.4000/- more for the "all India" facility ? I do travel frequently between Noida and Meerut.

Would be grateful for your advice.
Thanks,
Ashok

[strips007]

Originally Posted by AshokSawhney

I have Maruti Insurance for my SX4 ZXI, 2007 model, which is coming up for renewal on 23 September. I was surprised to learn that the "Maruti Insurance" quotation is Rs.2000/- plus more than the "National Insurance" quotation, though Maruti is also tying up with National to give the insurance cover. The difference is because Maruti uses a rating of 3.343 %, whereas National uses 2.34 %. As a result, for the same IDV of Rs.4,16,850/- and all other parametres being the same, the total premium works out to :

(a) Maruti Insurance Rs.15,636/-

(b) National Insurance Rs.13,328/-

Maruti Insurance quotation is the same from a number of dealers that I tried in Noida / Delhi. They say that they charge a higher rating of 3.343 % as they provide "cash less repair facility" and also the same can be availed of "anywhere in India". The "cash less" part is also available from any private Insurance company like Bajaj whose quotation is even lesser Rs.11,600/-. I wonder whether it is alright to pay Rs.2000/-to Rs.4000/- more for the "all India" facility ? I do travel frequently between Noida and Meerut.

Would be grateful for your advice.
Thanks,
Ashok

I have renewed insurance with Bajaj Allianze, and mine came to 12400 around. And IDV was like ~490000 and did not get no-claim-bonus discount since I had claims previously. I guess one difference is that plastic part are 50% depriciated with Bajaj whereas National Insurance pays full value for plastic parts, I may be wrong on this.

[aka_iitd]

Strips007 i guess no one pays 100% for plastic parts. Rupesh can help on this

Ashok try bajaj as for my SX4 5.54L I paid 11.5 K along with 20% NCB. Bajaj will also provide cashless. Not sure need to check with them

[npraneethreddy]

Hello,
I have bought a car with CP valid till next year. I have applied for transfer of ownership.
Have a question on the Insurance, will this be automatically transfer to my name along with the ownership transfer or do i need to make do it myself?

Regards,
Praneeth Nimma

[Speed-Gladiator]

I bought a used Scorpio, (2005 model for 4.10L), which is having only 3rd party insurance from National Insurance company But I would like to convert that in to the comprehensive insurance, is it possible to convert now ? If yes how much would be the premium amount I need to pay for that

Thanks

[r_nairtvm]

Deleted as duplication

[r_nairtvm]

Originally Posted by bj96

One silly question


Can we use NCB certificate issued against a no claim on a two wheeler for a four wheeler?

My insurer has just given me a NCB certificate (valid for three years) for my 8 year old Kinetic which just mentions the vehicle number and no other trace if it was a car or a scooter. Assuming one year down the line I buy a new car and produce this certificate, may be in a different town, to a different insurer- how will they figure out that NCB was for a two wheeler?

-BJ

bj96,

I know you have asked this in a lighter vein.

The whole concept of "Insurance" works on 5 major principles and one of which is "Principle of Utmost Good Faith". In plain language it meanse that both insurer and the insurance buyer has a bounden duty to disclose all known facts that may be material to the contract of insurance being concluded, at the inception of the contract itself.

If this priciple is breached the insurance could be held null and void any time.

By not disclosing that the NCB presented is for a two wheeler whilst buying the insurance for a four wheeler would clearly be a breach of the priciple. Insurers would be leagally very correct to pull the plug on your contract any time. Imagine this happening when you are facing a costly claims scenario.

This has happened in the past in India and in other parts of the world.

Best regards, Drive/Ride safe

Ram

[r_nairtvm]

Originally Posted by rammishra

Hi,

I was owning an Alto Vx which i have sold recently. The insurance of the vehicle was valid till 31 Aug 09.I have obtained 25% NCB from new india assurance today.

I am buying a new Indica Vista in the first week of september. Currently there is free insurance offer going on Vista, but since i am buying Vista through CSD, dealer willing to give me only 60% of free insurance.My questions are as follows:

1) Is Dealer right in offering me only 60% offer of free insurance to me?or is he eating some money from my free insurance.I confirmed from Tata Mototrs regional office, they said dealer can not offer me more than 60%.

2) How effectively i can best utilise my 25% NCB. Should i use it in first insurance of my new car? NCB certificate says it is valid for 3 years.

Regards
RP

I guess the dealer is offering free insurance on new "full value" purchase. Since you are buying through CSD, he would not get his usual commission on this sale. Hence, he is well within his rights in offering to cover only 60% of the insurance cost.