[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?

[ghodlur]

Originally Posted by nettooran

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?

Coming to your query - It is always better to inform the new Insurance co about the claims and they will ask you to refund back the NCB amount claimed plus the additional difference in the hiked TPL premium rates. Even if you don't intimate them, they will sooner or later get the information as all Insurance co share their databases. They will use this information during your claim (if any) in the new policy year.

What you could have done was wait for the old policy period to expire and claim in the new policy year. This way, your NCB could have been saved and new Insurance co would have treated this as any other claim.

Inform the Insurance co of the claims. Period.

[Shreeniwas]

Is there a 100% increase in Zero Depreciation charges for Car Insurance ?

Last year i.e. in 2015 when I renewed my XUV (2013 model) insurance, 0 depreciation charges was Rs.4500/- . With 25% NCB total premium had come to 23k.

But this year IDV is depreciated, NCB is increased to 35% but total premium quoted is close to 32k. On checking, I see zero depreciation charges itself is around 11k. Is the raise expected ?

[ghodlur]

Originally Posted by Shreeniwas

Is the raise expected ?

Not at all expected. In fact surprised to read this increase coz the zero dep add on cover is linked to the OD premium. Fall in the OD premium should result in decreased add on cover cost. Have a word with the Insurance co for the same. Before you do that discussion as a precaution, get the online comparison quotes for the calculated IDV from different Insurance co. This way you will have something to debate.

Who is the insurance co and whether the IDv calculated is correct?? The increase in premium is also due to hiked TPL premium rates.

[Shreeniwas]

Originally Posted by ghodlur

Not at all expected. In fact surprised to read this increase coz the zero dep add on cover is linked to the OD premium. Fall in the OD premium should result in decreased add on cover cost. Have a word with the Insurance co for the same. Before you do that discussion as a precaution, get the online comparison quotes for the calculated IDV from different Insurance co. This way you will have something to debate.

Who is the insurance co and whether the IDv calculated is correct?? The increase in premium is also due to hiked TPL premium rates.

I totally understand the increase in premium rates due to TPL hike. I even compared in policy bazaar, almost all those insurance companies who offer 0 depreciation are charging over 10k. Only New India Assurance had around Rs.8000/- for Zero Depreciation.

I faced the same while renewing my motorcycle policy last month. But I had forgot to renew policy earlier and as it was last date, I opted for whatever was available without thinking much. Even there , the 0 depreciation was doubled.

[SR-71]

Originally Posted by ghodlur

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


Classic case of reverse psychology.

I raised a complaint with TATA AIG on this issue. Turns out, it was an problem with my NCB claim. They mentioned that I had raised a request for 35% NCB claims whereas I was eligible only for 25%, based on them cross-checking with my previous insurance provider. I had purchased the policy online, by filling in the details based on advise from the Tata AIG customer care representative. They acknowledged that after hearing the conversation tape from their end. They claimed that they had sent me a 'snail' mail and had given me a months time to respond. Unfortunately, I had not received any. So this resulted them in sending me a cheque after cancelling my own damage coverage. I was surprised they could not send me an email / message / call me on my cell phone, but rather relied on postal service.

Anyway the net result was a partially cancelled policy with only third party liability being active. I did ask them to re-enable it with 25% NCB, but after a week of back-and-forth, they mentioned that since I had en-cashed the refund cheque (unfortunately my family did not realize it was not supposed to be dropped in the bank), they cannot re-enable it.

Finally, I decided to move onto Bharthi AXA, which was very efficient, and cheaper than Tata AIG. Now, I have raised a request with Tata AIG, to cancel the policy completely and refund the balance. Over all, very unhappy with Tata AIG, though their customer care representatives, who handled this whole episode have been relatively sensible.

[Chalu]

Hello ,

Any experience on SBI General insurance? Need advise
They are providing competitive premium compared to other insurance providers.

Any experience, please share.

Cheers

[carboy]

Is Personal Accident Cover mandatory? This says it's optional - http://www.team-bhp.com/forum/indian...ml#post1778818

But in my policy it's described as compulsory.

[DieselFan]

I have a 9 year old car with max NCB in it. I would like to buy a new car. Is there a way to transfer NCB from my old car to new car without selling the old car. Appreciate your responses on the approach to take.

thanks,
DF

[r_nairtvm]

Originally Posted by DieselFan

I have a 9 year old car with max NCB in it. I would like to buy a new car. Is there a way to transfer NCB from my old car to new car without selling the old car. Appreciate your responses on the approach to take.

thanks,
DF

Simple answer - Yes You can !

How - this question has been asked a zillion times in this thread - go through a few back pages you will know how (unless some other kind soul is willing to spend his time answering it)

Best Regards & Drive Safe

Ram

[ghodlur]

Originally Posted by carboy

Is Personal Accident Cover mandatory? This says it's optional - http://www.team-bhp.com/forum/indian...ml#post1778818

PA cover is mandatory for owner but non mandatory for passenger & driver. But is always suggested to opt for the PA cover coz its hardly a big amount.

Originally Posted by DieselFan

I would like to buy a new car. Is there a way to transfer NCB from my old car to new car without selling the old car

Yes, you can utilize your NCB on old car when buying Insurance for your new car. Approach the Insurance co (old car) and get the NCB certificate (they might ask you to furnish the proof of sale). Use the NCB certificate while buying Insurance for your new car. Point to note is if you are offered free Insurance on your new car, I would suggest to not opt for it. Instead buy Insurance on your own. This way you will utilize the NCB or else you will have to wait till the renewal of Insurance on the new car to utilize the NCB.

[petroguzzler]

I had bought a pre owned car two months back. The registration was transferred to my name in end March. I just had no time to spare to get the insurance changed in my name. One month has elapsed since the name change happened. Can I get the insurance transferred to my name now?

[ghodlur]

Originally Posted by petroguzzler

I had bought a pre owned car two months back. The registration was transferred to my name in end March. I just had no time to spare to get the insurance changed in my name. One month has elapsed since the name change happened. Can I get the insurance transferred to my name now?

Is the Insurance policy still valid or expired? If still valid, you can proceed to apply for the Insurance ownership transfer. If policy is expired, suggest to renew the policy first and then apply for the name change.

[vineet1712]

Need expert opinion to get expired insurance renewal.
I have purchased second hand Zen Estilo, Sept 2009 model whose insurance have elapsed in Oct 2015. Now i am trying to get it renewed and asked to pay huge sum of 6500. I am trying to find the cheapest option available in market but some how feel that this is not cheap. Please help and guide me in right direction.

[biggrin]

Hello people.

This question is on behalf of my friend, who wants to insure his 2012 Activa. The scooter is registered on 7.5.2012 as per the RC but in 2015, he failed to renew the insurance on time and went with HDFC ERGO to avoid inspection and other checks for starting a policy. Now when he checked the current policy's expiry date, it states 15.5.2016. Is this normal? He is in doubt because the registration date and policy start date do not match. He is not able to crosscheck as the previous policy document is lost. Is this difference due to the delay in starting the policy of 2015? How shall he proceed for this year's policy document? Does it matter if the reg. date on RC and policy start date do not match or correcting it is the only way out? Experts please guide.