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Old 3rd March 2016, 23:09   #3616
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Please note that lower Insurance premium does not guarantee better service. If the dealer is not parting with the information, visit the workshop and try to source the information from the workshop manager or staff over there.

My bad that I mentioned cover note is sufficient for registration. Its actually Insurance policy which is required for registration and IIRC a policy is issued if Insurance is bought online. Cover note is generally provided when you buy through dealer.
Thanks ghodlur! I checked with the service guys and got the info. Went with New India Assurance.

Need some info on another insurance query.

My boss has booked XUV500 and while doing some research on insurance, came across some article where it was mentioned that there are different types of zero-dep insurance policy available in the market.

Looks like it was mentioned that certain zero-dep policy would cover the engine while others wouldn't. I was surprised to hear this. Is it true that we have different types of zero-dep insurance? If so, is there anything specific that has to be looked out for?
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Old 7th March 2016, 08:02   #3617
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by callvvijay View Post
there are different types of zero-dep insurance policy available in the market.

Looks like it was mentioned that certain zero-dep policy would cover the engine while others wouldn't.
No, there are no different types of zero dep add on cover. There is only one type. Your boss is getting confused with the other add on covers which are being forced on him by the dealer. Like for eg. the engine protection add on cover is a separate cover with different terms and conditions. This is not same as the zero dep add on cover. Ask your boss to check online with the Insurer with different types of add on cover provided and the cost of each.

A new vehicle should generally have the zero dep add on cover. If the vehicle is used in areas notorious for water logging and regular commute, then engine protection should be preferred.
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Old 7th March 2016, 11:20   #3618
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Default Re: Automobile Insurance Queries? Ask me

I want to renew my Car Insurance for Fiat Palio GTX 2003 Model. Currently I hold a comprehensive insurance with New India Assurance Co Ltd. The renewal date is 9th March and the renewal details are as below -

IDV - 58334/-
Premium - 8633/-

I am worried about the IDV and NIA is not agreeing to increase the IDV. Since any accident repair on a old palio crosses 30K which is 50% of the IDV, the surveyor usually creates problem in clearing the insurance claim.

I checked online and only two insurance company are ready to renew the insurance for 2003 model cars, ICICI Lombard and BajajAllianz. Both are giving me an IDV of 186,000/- with the premium of 8600/-

Should I take it or continue with NIA? is there a catch if I change the insurance company.

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Old 7th March 2016, 12:07   #3619
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Default Re: Automobile Insurance Queries? Ask me

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Both are giving me an IDV of 186,000/- with the premium of 8600/-
Thats strange for the Insurance co's to increase the IDV almost 3 times that what Nation Insurance has quoted for the same premium. Vice versa show the quote to NIA too and hear about their response. Have you received a formal quote for the same? if not suggest to get one. I would advise to go with Bajaj Allianz considering ICICI's notoriety when it comes to claims.
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Old 7th March 2016, 12:17   #3620
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Thats strange for the Insurance co's to increase the IDV almost 3 times that what Nation Insurance has quoted for the same premium. Vice versa show the quote to NIA too and hear about their response. Have you received a formal quote for the same? if not suggest to get one. I would advise to go with Bajaj Allianz considering ICICI's notoriety when it comes to claims.
Not sure why the IDV is more than 3 times what has been quoted by NIA.
I have received a formal online quote from Bajaj Allianz, which I quoted to NIA but they are not interested. I am planning to go with Bajaj Allianz

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Old 12th March 2016, 16:27   #3621
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Default Re: Automobile Insurance Queries? Ask me

Hi Insurance Gurus,

I need some advice regarding the insurance of renewal of my Jetta.

My current insurance policy is with Bajaj Allianz and I had a 50% NCB. Last year, I had paid a premium of 35K for an IDV of 15.44 Lakhs with Zero Dep. However, last year I had a small fender bender and had a claim which made the NCB 0%. This year, Bajaj is quoting 53K for an IDV of 13.9 Lakhs with Zero Dep.

I checked with ICICI and Tata AIG. Tata AIG is quoting 39K for the same IDV of 13.9 Lakhs with Zero Dep. In the quotation email, Tata AIG mentioned that they support cashless claim. The representative said this over phone as well. But my dealer is telling me they have cashless claim only with Bajaj Allianz. I have now asked Tata AIG to check again and let me know if they have cashless claim with my VW dealer.

During my last claim with Bajaj the dealer took care of everything and everything went smooth. So, I would definitely like to go with Bajaj. But 14K difference is too much. If the difference between Tata and Bajaj was about 5K, I would have gone with Bajaj for the peace of mind.

I have several questions.

1. How critical is the cashless claim service with my dealer? In case the insurance company does not have cashless claim with dealer, will there be too much trouble if any claim arises? What will be the procedure for a claim?
2. Is the cashless tie up dealer specific or manufacturer specific? Even if I go ahead with Bajaj that has cashless tie up with my dealer at Coimbatore, if the claim happens to be at a different dealership and if that dealer does not have cashless tie-up with Bajaj, will the claim process change? On the other hand, if I go ahead with Tata AIG which does not have cashless tie up with my dealer, but the claim happens to be at a different dealership that has cashless tie up with Tata AIG, will I get cashless benefit then?
3. How is Tata AIG's reputation in honoring claims?

I am totally confused now. In the past 9 years of car ownership (7 years with Hyundai Getz and 2 years with VW), I have always renewed my insurance with the company tied up insurance provider. This is the first time I am looking elsewhere due to the very high premium. Should I go with Tata AIG even if there is no cashless tieup, or should I just bear the additional 14K premium burden and stick to Bajaj Allianz? Please advice.
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Old 14th March 2016, 10:40   #3622
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by graaja View Post
1. How critical is the cashless claim service with my dealer? In case the insurance company does not have cashless claim with dealer, will there be too much trouble if any claim arises? What will be the procedure for a claim?
2. Is the cashless tie up dealer specific or manufacturer specific? Even if I go ahead with Bajaj that has cashless tie up with my dealer at Coimbatore, if the claim happens to be at a different dealership and if that dealer does not have cashless tie-up with Bajaj, will the claim process change? On the other hand, if I go ahead with Tata AIG which does not have cashless tie up with my dealer, but the claim happens to be at a different dealership that has cashless tie up with Tata AIG, will I get cashless benefit then?
3. How is Tata AIG's reputation in honoring claims?
To answer your queries serially:
1) Cashless claim service is not critical but good to have. Even if the Insurance co does not have a cashless tie up with the dealer but its claim processing is fast and to the satisfaction of the Insurer, then one can opt for the Insurance co. The procedure is quite simple. Incase of any claim, Insurer informs the Insurance co, submits the repair quote for approval. Once approved, workshop does the repair job. Insurer pays the workshop from his pocket and applies to the Insurance co for reimbursement. Insurance co pays the Insurer.
2) Cashless tie up with dealer specific. However manufacturers do have a national tie up with a specific Insurance co which means that Insurance co will have cashless tie up across all workshops in the country. So opting for the Insurance co which have national tie up is beneficial if you are travelling other than your place of stay. For Eg. Ford has national tie up with Royal Sundaram, Fiat has Future Generali, Maruti have their own Insurance co etc.
3. This is a very generic query. Some users have good experience, some have bad. But Tata AIG being in top 5 Motor Insurers, I assume their claim handling should be good although I don't have any personal experience to put forth.
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Old 14th March 2016, 11:34   #3623
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
To answer your queries serially:
1) Cashless claim service is not critical but good to have. Even if the Insurance co does not have a cashless tie up with the dealer but its claim processing is fast and to the satisfaction of the Insurer, then one can opt for the Insurance co. The procedure is quite simple. Incase of any claim, Insurer informs the Insurance co, submits the repair quote for approval. Once approved, workshop does the repair job. Insurer pays the workshop from his pocket and applies to the Insurance co for reimbursement. Insurance co pays the Insurer.
2) Cashless tie up with dealer specific. However manufacturers do have a national tie up with a specific Insurance co which means that Insurance co will have cashless tie up across all workshops in the country. So opting for the Insurance co which have national tie up is beneficial if you are travelling other than your place of stay. For Eg. Ford has national tie up with Royal Sundaram, Fiat has Future Generali, Maruti have their own Insurance co etc.
3. This is a very generic query. Some users have good experience, some have bad. But Tata AIG being in top 5 Motor Insurers, I assume their claim handling should be good although I don't have any personal experience to put forth.
Hi, Thanks for the detailed response. I have asked the insurance guy at the dealership to try and match TATA-AIG's quote. If he is even able to bring down the premium to a difference of 4K or so, I will go ahead with Bajaj Allianz from the dealer. Otherwise, it is going to be a tough decision!
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Old 16th March 2016, 21:31   #3624
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Default Re: Automobile Insurance Queries? Ask me

I have a query - I sold my car in Nov 2015 and on the same day signed all papers for transfer. As informed by the new owner, he received new the RC in Feb 2016 (around mid Feb as he told me) and before we could transfer the insurance the car had an accident. He got it repaired and claimed the refund. The insurance company rejected his claim as the policy is not transferred in his name yet.

As I was given to understand by the insurance company, the claim was rejected on 29th Feb and policy is still in my name. It has been 2 weeks and I have been following up with the new owner regarding policy transfer but he is giving some reason or other for postponing it. Initially he told me that his claim was under process and since RC was in his name, the insurance company would pay but when I contacted insurance company they clarified that the claim was rejected on 29 Feb itself.

How do I transfer the policy now? I would like to finish it off as I am busy now and might need to travel outside city for longer duration. Is there a way I can contact insurance company myself and get it off my head?
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Old 18th March 2016, 00:46   #3625
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Default Re: Insurance Renewal -- query

Is there a plan to increase the insurance rate by another 30% from April 1st? Heard about this from a senior agent who works for New India Insurance.
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Old 18th March 2016, 11:19   #3626
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Default Re: Insurance Renewal -- query

Folks

I need to renew my Figo's insurance which expires this month end. Currently it is with Bajaj Allianz as it was on company lease and my company only deals with Bajaj. I've got the ownership transferred early this month to a friend (though I still use the car), and also the insurance. In the process I lost NCB, but that is a different topic.

I got a quote from Bajaj Allianz for Rs 16433 for an IDV of 376293. Currently i have zero dep DAE plan, so to with DAE added the quote is for Rs 22000. As I found this to be a tad high, I scouted policy bazaar. I got the below quotes, but am confused on what option to go for. Figures within brackets are the portion of the premium for zero-dep with engine protection by some providers.
  1. New India Rs 12226 (3661)
  2. Future Generali Rs 15259 (3556)
  3. Royal Sundaram Rs 15580 (5410)
  4. L&T Insurance Rs 15622 (4991)
  5. Universal Sompo Rs 18816 (5998)
  6. Reliance Genl Ins Rs 20387 (6698)
  7. Bharati Axa Rs 21959 (5135)
The premium by Bharati Axa closely resembles the one i got from Bajaj, while the one from New India Assurance is nearly half of that.

I'd really appreciate inputs from esteemed members of this forum.

Edit: Meanwhile I called Vibrant Ford and they said their preferred providers were Oriental and Royal Sundaram. Oriental is missing in the quote from Policybazaar. But I still leave it to members to chip in with their feedback.

Last edited by vnabhi : 18th March 2016 at 11:23.
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Old 20th March 2016, 20:37   #3627
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Default Re: Insurance Renewal -- query

Renewed my insurance from HDFC Ergo. Used HDFE Ergo last year. They provided maximum IDV and NCB. When i checked in Polizybaazar, it was asking for NCB mentioned in previous policy. But it was not mentioned there. How can we identify NCB from previous policy when we change insurer?
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Old 20th March 2016, 20:45   #3628
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Default Re: Insurance Renewal -- query

Quote:
Originally Posted by vnabhi View Post
  1. New India Rs 12226 (3661)
  2. Future Generali Rs 15259 (3556)
  3. Royal Sundaram Rs 15580 (5410)
  4. L&T Insurance Rs 15622 (4991)
  5. Universal Sompo Rs 18816 (5998)
  6. Reliance Genl Ins Rs 20387 (6698)
  7. Bharati Axa Rs 21959 (5135)
I'd really appreciate inputs from esteemed members of this forum.
Knock knock. Any users of New India Assurance here? How is their service?
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Old 23rd March 2016, 20:51   #3629
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Default Re: Automobile Insurance Queries? Ask me

Dear All,

Today did some research on car insurance for my new Grand I 10. I got the following 2 quotes, one from TAIG and the other from Reliance.

Could the experts comment on which one I should go fo. I totally understand each comes with its own set of pros and cons, but reaching out to the experienced junta to help me zero in on the lesser of the 2 evil.

1) TAIG
1. Car & Make Model : HYUNDAI GRAND I 10 ASTA AT PETROL
2.Existing Insurance - : BRAND NEW
3. Registration no: ---. : WB 01
4. Vehicle Driven City: - : KOLKOTA
5. Age of Vehicle: : BRAND NEW

* Policy Benefit
1. NCB : 0 %
2. Direct Claim Settlement: YES,
3. Accident Repair Warranty (6 Month)
4. Towing Facility Upto Rs : 1500/-
5. Third party Property damage Upto Rs : 7,50,000/-
6. Third party body injury unlimited cover
7. Voluntary discount: Nil
8. Owner Cover: 2,00,000/-
10. ENGINE SECURE : YES

The given quotation is based on details provided by you over the phone & subject to change as per changes in the given details.

Based on this information, the IDV (Insured Declared Value) of your car is Rs. 6,36,000/- (IDV) Premium is Rs. 20,153/- (PEARL PLUS PLAN + RSA)
Based on this information, the IDV (Insured Declared Value) of your car is Rs. 6,36,000/- (IDV) Premium is Rs. 18,332/- (PEARL PLAN)

Repair of Glass, Fiber, Plastic and Rubber Parts :
Under this cover the ‘No Claim Bonus’ will not be impacted if repair rather than replacement is opted (once in year ) for damage to only Glass, Fiber, Plastic and Rubber parts provided no other claim for damage to the vehicle is preferred during the policy period. This cover is free.
Depreciation Reimbursement :
This cover offers full claim without any deduction for depreciation on the value of parts replaced. The cover is available for vehicles up to 5 years old and operates for maximum 2 claims during the policy period.
Loss of Personal Belongings :

This cover pays for the loss or damage to personal belongings inside a vehicle at the time of loss or damage to the vehicle in excess of Rs. 250. ( Baggage’s only.)

Emergency Transport and Hotel Expenses :
This cover pays the cost of overnight stay and taxi charges for returning to the place of residence or the nearest city of travel, if the vehicle becomes immobile due to an accident.
Key Replacement :
This cover pays the cost to replace vehicle keys if lost or stolen, plus the cost of locks if the vehicle is broken into.

Engine Secure

We will pay you repair and replacement expenses for the loss or damage to-
- Internal parts of engine
- Gear box, transmission or differential assembly
Provided loss or damage is due to ingress of water in the engine or leakage of lubricating oil from engine/ respective
assembly.
We will also pay for lubricating oils/ consumables used in respective assembly i.e. material which is used up and
needs continuous replenishment such as engine oil, gear box oil etc. but excluding fuel.

1. Loss or damage covered under manufacturer warranty, recall campaign or forming part of maintenance/
preventive maintenance.
2. Any aggravation of loss or damage including corrosion due to delay in intimation to us and/ or retrieving the
vehicle from water logged area.
3. Ageing, depreciation, wear and tear.

Consumable Expenses:

We will cover cost of consumables required to be replaced/replenished arising from an
accident to the insured vehicle. Consumable for the purpose of this cover shall include engine oil, gear box oil,
lubricants, nut & bolt, screw, distilled water, grease, oil filter, bearings, washers, clip, break oil, air conditioner gas
and items of similar nature excluding fuel.

2) Reliance - Rs. 18,193/-

Motor Secure Premium Cover-

Nil Depreciation Cover
Consumables Cover
Engine Cover
Key Protect Cover – Private Cars

In addition to normal stuff
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Old 24th March 2016, 07:31   #3630
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Default Re: Automobile Insurance Queries? Ask me

Reliance!!! Certainly not. My vehicle met with a major accident, and it was 18 months of legal battle just to get the Vehicle repaired. During my course of battle with reliance I met many customers of Reliance who's claim was refuted on baseless grounds. The reliance insurance company have a strong lobby of Lawyers who keep the pockets of the officials full and you won't get justice unless u decide for a long legal battle.
Not just with Reliance motor insurance, it holds true for Reliance Health insurance as well. I am into medical profession and I have seen how Reliance Co. cheats my patients and refuses their claim. After preapproval for a surgery/ procedure, they stop responding when final bills are presented. The patients end up paying from their own pockets. Once the patient is discharged they will respond and refute the claim in flimsy grounds.

Last edited by bravo82in : 24th March 2016 at 07:35. Reason: Typo
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