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Old 24th April 2017, 18:36   #3976
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Default Re: Automobile Insurance Queries? Ask me

Why is it so difficult to claim insurance from Royal Sunderam?
Last year when I had comprehensive insurance, I had damages of ~90k INR.Royal Sunderam tried to cheat me by changing the date of registration to 6 months prior and increasing the depreciation from 10% to 15%.
This year I have taken bumper to bumper cover. On submitting a claim, I am told that it will be considered as 2 incidents and I have to pay double as the incidents occurred about 10 seconds apart. I was reversing into a narrow lane at a resort in Mamallapuram to turn around when my back hit a gate, the running board hit the high pavement while turning around. These 2 incidents occurred within 10 seconds, but are being treated as 2 separate incidents.
Apparently If a 2 wheeler hit you once and then again while removing it, it will still be considered as 2 incidents.
Are they justified in making this as 2 incidents?
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Old 24th April 2017, 20:11   #3977
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by wildsdi5530 View Post
Why is it so difficult to claim insurance from Royal Sunderam?
On submitting a claim, I am told that it will be considered as 2 incidents and I have to pay double as the incidents occurred about 10 seconds apart.
Are they justified in making this as 2 incidents?
Actually RS are quite professional when it comes to claims processing, saying this purely from personal experience.

If the damages are at two different places and logically cannot be caused by one accident, then by default the repairs for both the sections will be considered as two separate claims. Here the time is not the factor but the extensiveness of the damage is critical. Unless otherwise the surveyor is convinced that there could be a possibility. Were you present when the surveyor inspected the car? I would suggest to talk to the surveyor.
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Old 24th April 2017, 22:41   #3978
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by Pancham View Post
Policy bazaar has very silly and weird ways of doing business. They said I cannot opt for tata aig because I already had it last time. I have to opt for a different insurer this time. What logic is this?
That's the modus operandi of policy bazar. They will never have your current insurer in the list. I believe that this brings them more profit in form of commission from the insurance company as they can argue that they brought a new business for them from another insurer.

Policy bazar was ready to issue me a new policy after the old one had expired. They just wanted me to send clicks of my car which had to be clicked by me (and not the surveyor!).
This, I think meant a false underwriter report. I went through offline mode even if that meant paying 4 grands extra!
+1 to the suggestion that check with them only for the sake of a basic comparison. Buy from insurer website directly.

Regards.
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Old 26th April 2017, 19:32   #3979
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Default Re: Automobile Insurance Queries? Ask me

Checking Insurance options for Tata Tiago (New). From the different quotes that I received, Tata AIG seems the lowest priced at 13,452 for Comprehensive Insurance and at an additional cost of Rs.2661/- (Rs.16,113) they are offering what they call the Pearl Plan which includes:
  1. Depreciation Reimbursement
  2. Loss of Personal Belongings
  3. Emergency Transport
  4. Hotel Expenses
  5. Key Replacement
  6. Road Side Assistance

Is Depreciation Reimbursement the same as a Zero Depreciation Insurance?

What is the general opinion about Tata AIG Insurance - is the claim process easy?
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Old 27th April 2017, 10:37   #3980
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Quote:
I've got following online quotes:-

2) HDFC Ergo - Rs. 19760 (IDV - Rs. 690000, Zero dep)

Offline quote from Future Generali, Rs. 23500, IDV - 699000, Zero Dep, Consumables and laptops/moble theft, RSA.
So guys, FG isn't in a mood to negotiate and their final offer stands at 23.5K.

HDFC has givern a revised offer of Rs. 19158/-, Zero dep titanium plan with IDV of Rs. 7 Lakhs. Plan benefits in below picture.

Motor Add on Wordings - Titanium policy wording.pdf

Though they don't have cashless tie-up with my regular garages, they are offering a facility of 60% advance payment for repairs from non-covered garages. Details in below picture.

Name:  HDFC.gif
Views: 1104
Size:  182.1 KB

What do you guys suggest ? More than 4k difference in FG's and HDFC's premium and later also giving more add-on

My only concern is the way payment is to be made. They will sent a link for payment and there won't be any policy details before payment. Is this common practice these days ? Same is the case with FG.
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Old 27th April 2017, 21:27   #3981
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Urgent help required.I am in the process of buying a Maruti and have been told by the dealership that comprehensive insurance is mandatory for hypothecation (purchase financed by car loan)on the RC.I am insisting on liability insurance only.Is comprehensive insurance mandatory for vehicles financed on loan ?Is it mandated by the government or banks or the dealership? Thanks in advance.
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Old 27th April 2017, 23:28   #3982
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by drsingh View Post
Is it mandated by the government or banks or the dealership?
By the banks, if they have any sense! What security would they have if the borrower writes off the car? nothing!

But I don't see that that would be anything to do with the dealer/RTO.

Not what you asked, but please think twice about having a loan on a car without comprehensive insurance. You might not still have the car, but you would still have the loan: that would be very depressing. Please ignore if you think it is none of my business!
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Old 28th April 2017, 01:35   #3983
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Quote:
Originally Posted by Thad E Ginathom View Post
By the banks, if they have any sense! What security would they have if the borrower writes off the car? nothing!

But I don't see that that would be anything to do with the dealer/RTO.

Not what you asked, but please think twice about having a loan on a car without comprehensive insurance. You might not still have the car, but you would still have the loan: that would be very depressing. Please ignore if you think it is none of my business!
Thanks for the quick reply . On United India Insurance website, there is an option to check the box if a vehicle is financed. After that the liability only policy option disappears. So it is mandatory on some level by the government/insurance/banks. But now I am curious if financed trucks avail comprehensive insurance.

I've got an excellent quote on that website for comprehensive insurance. Much below dealer quote.
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Old 28th April 2017, 09:20   #3984
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by drsingh View Post
Thanks for the quick reply . On United India Insurance website, there is an option to check the box if a vehicle is financed. After that the liability only policy option disappears. So it is mandatory on some level by the government/insurance/banks. But now I am curious if financed trucks avail comprehensive insurance.
Yes financed trucks must have a comprehensive (own damage + third party) insurance - in other words if you want to finance (borrow money) purchase of any asset - movable or immovable - the financer/lender will insist that the possibility (risk) of physical loss or destruction of that asset be covered under a suitable form of insurance (lender is transferring his risk of a possible loss to a third party loss carrier). In case of automobiles its called a "comprehensive insurance" (for a Building/Residence - it will be a Fire Insurance so on an so forth)

The government has nothing to do with this. Nor does the Insurance Company. Its the condition that's set by the "lender" (banks) and as long as you want his money to finance your purchase then you have no choice.

Insurance company asks the question about finance - so that they can incorporate a "clause' known as "hypothecation clause" which effectively will give the financer the 1st call on any money becoming payable on that insurance - mostly in case of a "total loss".

If you are buying the vehicle using your own money then you have the option to go in for the "mandatory Third Party" cover - so if you say its not financed/hypothecated the TP option will still stay on.

Hope you are confused enough now

Best Regards & Drive Safe

Ram

Last edited by r_nairtvm : 28th April 2017 at 09:23.
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Old 1st May 2017, 18:23   #3985
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Default Re: Automobile Insurance Queries? Ask me

Hi All,

Here are the insurance quotes (Zero Dep. + 24x7 Roadside Assistance), which I am getting for my TATA Safari (May 2012 model) with an IDV of 5,00,000:
  • Oriental Insurance = 19,869
  • Universal Sompo = 24,001
  • Bajaj Allianz (also includes Engine Protector) = 37,972

As per my knowledge, Oriental Insurance doesn't offer a cashless across TATA workshops whereas the Universal Sompo does offer the cashless.

Please advise.

Cheers!
Irish
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Old 18th May 2017, 21:46   #3986
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Insurance of my Xuv is due on 25/05. Current insurance is from Bharti axa.
Bharti axa has given me a quote of rs35860 for an idv of 1400000 and Hdfc ergo has given me a quote of rs30864 for similar idv. Both quotes includes zero depreciation cover.
Now I just want to know how is Hdfc ergo in terms of settlement of claims since this is the first time I am thinking of getting renewed from Hdfc. Also is there anything more I should take care of?

Thanks in advance.
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Old 19th May 2017, 10:24   #3987
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by AnkitAnimesh View Post
Now I just want to know how is Hdfc ergo in terms of settlement of claims
In my experience HDFC ergo is not bad.
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Old 19th May 2017, 10:29   #3988
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Just heard of Liberty Videocon insurance for cars. Anyone has a policy from this group ? Kindly share feedback.
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Old 19th May 2017, 17:33   #3989
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Originally Posted by archat68 View Post
In my experience HDFC ergo is not bad.
Thanks for the quick reply.
One more question I have, last year when I bought my Xuv, idv was 1444247. Now this being the second year and first renewal what should be the correct idv because I am getting quotes for idv ranging between 1150000 and 1470000.
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Old 21st May 2017, 13:08   #3990
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My 2 month old Creta got rear ended today. The rear bumper will probably need a replacement. My SA told it costs about 7000 with paint and all. I've a zero dep policy. Would it be advisable to forgo future NCB and claim insurance now?

Generally I'm a very safe driver and haven't claimed insurance in previous car in 6 years of ownership I've had with it.
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