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Old 25th February 2017, 22:36   #3901
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Default Re: Automobile Insurance Queries? Ask me

What's the difference between taking insurance from the car showroom and from taking it from outside? What are also the advantages and disadvantages of taking an insurance policy from outside as opposed to one from the car showroom? It's said the car showroom makes bigger margins from insurance policies than from selling cars: is it true?
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Old 25th February 2017, 22:39   #3902
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If I can get the quote from HDFC Ergo, then dealer will match theirs accordingly and it will be covered by the loan. Else If I take from HDFC directly, then I will have to shell out the premium amount (which is not much I agree). Question is how to get the quote from them? And what all factors do I need to inquire to get the best deal from HDFC? I am sure there are some tricks as are there in every financial deals
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Old 26th February 2017, 11:36   #3903
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Originally Posted by Majumdarda View Post
Question is how to get the quote from them?
Got the quote generated from their site :-

https://www.hdfcergo.com/

Will forward the same to the dealer if they can lower down their quote to match mine.

Please advise what does "First Registration Date / Sales Invoice Date" mean? Does it mean the date when I paid the booking amount? If not then how to get this date (will be required just in case I am required to insure on my own)
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Old 28th February 2017, 11:01   #3904
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Default Re: Automobile Insurance Queries? Ask me

At the time of purchase of my Ford Classic (2014), Kairal Ford Trivandrum had cashless tie up with two providers viz. Royal Sundaram and New India Assurance and I went with the former. Ever since I've been renewing the policy online with RS.

Today I visited Kirali Ford for replacing the broken windshield by claiming insurance (as I have NCB protector cover from RS and two claims/year can be made without affecting NCB) and the service advisor told that they discontinued the cashless tie up with RS 7 months back (i.e after my last renewal). He also added that if the surveyor from RS permits, he'll surely make arrangements for a cashless claim or else RS will credit the amount to my account.

This is my first insurance claim procedure and I'm fumbling in the dark. Is there any grounds on which I can ask adamantly for a cashless claim? Will the procedure be hectic if the cashless claim is not approved by the surveyor?
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Old 28th February 2017, 15:32   #3905
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Originally Posted by RiGOD View Post
This is my first insurance claim procedure and I'm fumbling in the dark. Is there any grounds on which I can ask adamantly for a cashless claim? Will the procedure be hectic if the cashless claim is not approved by the surveyor?
Have you contacted RS as yet? If not, do so and confirm they have the cashless tie up with the workshop. I am sure RS will honor cashless tie up since the workshop has agreed for cashless repairs. In case RS does not entertain cashless repairs, get the repairs done by upfront payment and get the amount reimbursed. Looking at RS's history they are prompt in reimbursement too. The only thing you need to ensure is that the surveyor visit the workshops and approves the repairs before they can be done so that later there is no delay in reimbursement.

Did you get any message from workshop about the discontinuing of the cashless tie up?

Hope the above helps.
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Old 28th February 2017, 16:55   #3906
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Originally Posted by ghodlur View Post
Have you contacted RS as yet? If not, do so and confirm they have the cashless tie up with the workshop. I am sure RS will honor cashless tie up since the workshop has agreed for cashless repairs. In case RS does not entertain cashless repairs, get the repairs done by upfront payment and get the amount reimbursed. Looking at RS's history they are prompt in reimbursement too. The only thing you need to ensure is that the surveyor visit the workshops and approves the repairs before they can be done so that later there is no delay in reimbursement.
Took the vehicle to another F.A.S.S (Harry Ford) and they agreed to push for cashless claim from RS although they don't have tie up with them (I still don't know how that is possible).

Quote:
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Did you get any message from workshop about the discontinuing of the cashless tie up?

Hope the above helps.
Didn't get any message specifying the same. Thanks a lot for the response mate. Will keep posted on the updates.
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Old 28th February 2017, 17:08   #3907
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Default Re: Automobile Insurance Queries? Ask me

I have a Maruti Insurance (from HDFC, I think) policy for my car. I am considering taking a new car on company lease. Will I be able to transfer my 40% NCB to the new car?

Anyone with prior experience of having done that?
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Old 28th February 2017, 19:23   #3908
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I have a Maruti Insurance (from HDFC, I think) policy for my car. I am considering taking a new car on company lease. Will I be able to transfer my 40% NCB to the new car?

Anyone with prior experience of having done that?
The RC and insurance of the new car are in the name of the company, who is the lessor. How can you transfer NCB then - technically not possible but check with your insurer if they are willing to make the NCB transfer.

The reverse is quite possible, the company can issue a letter authorizing NCB transfer. http://www.livemint.com/Money/D6RAEU...ed-to-you.html
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Old 3rd March 2017, 20:24   #3909
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Default Re: Automobile Insurance Queries? Ask me

Not sure if this has been answered already ( I checked multiple pages but this thread is 251 pages long!). Would really appreciate if someone can help here.

I may be selling my car in next couple of months and my insurance is due this month. This is for a 2015 model car with 0% dep bumper to bumper insurance. I do not intend to purchase another car to replace this.
If I do go ahead with same renewal, is there any benefit to me when selling the car in terms of selling price? I ask since buyer would anyway purchase own insurance. Can this insurance transfer (since it would be only about a month old) to the buyer?
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Old 3rd March 2017, 20:35   #3910
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by vipulbatta View Post
Not sure if this has been answered already ( I checked multiple pages but this thread is 251 pages long!). Would really appreciate if someone can help here.

I may be selling my car in next couple of months and my insurance is due this month. This is for a 2015 model car with 0% dep bumper to bumper insurance. I do not intend to purchase another car to replace this.
If I do go ahead with same renewal, is there any benefit to me when selling the car in terms of selling price? I ask since buyer would anyway purchase own insurance. Can this insurance transfer (since it would be only about a month old) to the buyer?
The question to be considered is - Are you eligible for any NCB for claims free use for the last 2 years.

If so it may be worth cancelling the insurance when the car is sold. The NCB Certificate is valid for 3 years from date of issue and can be used should you buy any other car

If no NCB then you can transfer the Insurance to new buyer (he will have to repay any NCB you have availed.

Best Regards & Drive Safe

Ram
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Old 4th March 2017, 00:00   #3911
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Thank you Ram!
I had a claim in first year but current year I can claim NCB.
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Old 10th March 2017, 16:28   #3912
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Default Re: Automobile Insurance Queries? Ask me

The insurance of our Elite i20 Asta CRDi from Bajaj Allianz will expire on 15-03-2017.
Our Indigo had NCB of 50% from New India Assurance while selling which I transferred while buying Elite i20.

I did not make any claim in two years of Elite i20 Ownership (Touchwood).
I am thinking of renewing it online.
I want to know what should be the Normal IDV for our car while renewing now. This is 3rd year of Ownership of car. i.e. Car bought on 16-03-2015. Bajaj Allianz is showing system generated IDV of Rs.546124/- And Premium including Taxes is Rs. 10982/-
For same IDV, New India is showing Rs. 7198/- Thats a difference of more than 3500
Would I need to submit NCB letter from Bajaj Allianz while renewing/after renewal from New India?

Please advise.
Thanks in Advance.
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Old 13th March 2017, 19:50   #3913
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Originally Posted by IndigoXLGrandDi View Post
I want to know what should be the Normal IDV for our car while renewing now.
Would I need to submit NCB letter from Bajaj Allianz while renewing/after renewal from New India?
The Normal IDV for the car should be 10% less than last year's IDV. There will be difference in the quotes from different Insurance co. But ensure that you get the premium quotes including the add on covers for the same IDV from different Insurers. Then compare line to line, negotiate to get a better deal from them. Also ensure that the Insurance co's from whom you get the quote have a cashless tie up with the service workshop where you would generally service your car.

No you wont have to produce the NCB certificate to renew from BA or buying from New India. NCB endorsement is more than sufficient.
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Old 17th March 2017, 15:56   #3914
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Default Re: Insurance Renewal -- query

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Originally Posted by vnabhi View Post
Knock knock. Any users of New India Assurance here? How is their service?
My car's insurance is with New India Assurance. They are very very slow with respect to claim settlement process but they are good with respecting the zero depreciation claim. What I mean to say is that, while other companies have a bit of distorted viewpoints when it comes to paying for plastic parts, NIA pays fully.
My car was hit from behind last year and I had to replace the back and front bumpers plus quite a few parts. NIA had paid almost 90% of the claimed amount.
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Old 17th March 2017, 20:16   #3915
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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)
Venu Sir,
The quotes mentioned above are for the same IDV? If yes, I would suggest to opt for RS. Two reasons for that -1) Cashless tie up with RS (Ford has a national tie up with RS, hence cannot cheat of the repair costs) 2) Good after sales customer support. The premium quoted by RS is fairly good enough, just check with them if there is any further scope of negotiations.

I would suggest apart from zero dep add on cover, if you could also think about the NCB protection cover for the car. Looking at the increasing TPL premiums trend, NCB's will be the only discount you have to reduce your total premium outgo going forward.

To answer your basic question whether NIA is a good choice. Although the premiums are low, still the claims will have to be reimbursed to you as they do not have the cashless tie up. Getting reimbursement from public sector Insurers is PIA.
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