![]() | #3991 | |
Senior - BHPian ![]() Join Date: Jun 2013 Location: Bangalore
Posts: 1,500
Thanked: 2,800 Times
| ![]() Quote:
My advise is to pay for this from your pocket as it's a minor replacement. The car is still in its first year. If you claim now you may end up losing a lot more money in NCB over the next 5/6 years. | |
![]() |
|
![]() | #3992 |
Senior - BHPian ![]() Join Date: Sep 2014 Location: Chennai
Posts: 4,075
Thanked: 7,132 Times
| ![]() It may be a few thousand cheaper if you find a good local garage and get the bumper tinkered rather than having it replaced. |
![]() |
![]() | #3993 |
Senior - BHPian ![]() | ![]() I have a 2012 registered Fiesta, for which I paid about 14,800 for insurance to IFFCO-Tokio and got it renewed. I have a NCB of 50% and haven't made a claim ever. Now, if I go and make a claim this year, will my NCB go to zero, and start accumulating slowly from there? or would it go to 40% for my next renewal? |
![]() |
![]() | #3994 | |
Senior - BHPian ![]() Join Date: Feb 2017 Location: KA - IND
Posts: 1,082
Thanked: 3,649 Times
| ![]() Quote:
@Nonstop-driver, if the value of NCB loss exceeds the cost of repair, get the damage mended with your own funds and vice versa. OT: Hurts to see the shattered bumper. The post claim NCB will be zero. On the brighter side, since you have already reached 50%, next year's premium would not have been subsidized further even without the proposed claim, as the maximum NCB is 50%. ![]() Last edited by dailydriver : 21st May 2017 at 17:00. Reason: More info added | |
![]() | ![]() |
![]() | #3995 | |
BHPian ![]() Join Date: Jun 2009 Location: mumbai
Posts: 293
Thanked: 439 Times
| ![]() Quote:
| |
![]() |
![]() | #3996 | |||
BHPian ![]() | ![]() Quote:
Quote:
Quote:
How does this work? Depreciation hit means next year the IDV will be lower than maximum possible IDV? Current IDV is 95% of the cost of a new vehicle. | |||
![]() |
![]() | #3997 | |
BHPian ![]() Join Date: Jun 2009 Location: mumbai
Posts: 293
Thanked: 439 Times
| ![]() Quote:
What I meant by a depreciation hit was in the bill to be footed. On plastics and glass etc, only 50% of the book is paid due to depreciation (that's where a zero dep policy comes in). My doubt arose as I was told recently that in case of bumper damage within the first year ( in case of some policies, 6 months), there's no depreciation as that starts only after a certain period. Gurus may kindly clarify. ![]() | |
![]() |
![]() | #3998 | |
BHPian ![]() | ![]() Met the SA and ordered the visibly damaged parts, although the survey is pending. Apparently, the dicky cannot be repaired so that will be replaced too. Makes sense to claim insurance then. SA also felt that there is no structural damage. Also learnt from someone that some insurance companies offer upto 90% discount on own damage part of the insurance premium to chartered accountants. In that case, NCB becomes irrelevant for me since that is also calculated on own damage part (correct me if I'm wrong). Quote:
| |
![]() |
|
![]() | #3999 | |
Senior - BHPian ![]() Join Date: Dec 2009 Location: Kolkata/NCR
Posts: 1,221
Thanked: 802 Times
| ![]() Quote:
It's a zero depreciation policy so it doesn't matter if it's a 2 month or 2 years. You will have to pay the minimum amount only. | |
![]() |
![]() | #4000 |
BHPian Join Date: Sep 2007 Location: bangy
Posts: 260
Thanked: 47 Times
| ![]() hi All, My car Hyundai Verna is up for insurance renewal. this year i had made one claim. however have noticed that insurance premium is very high. Query i have is does zero dep insurance makes sense since its been 3 years now ? if not i can save some amount there. please suggest. Last edited by Endofdayz : 22nd May 2017 at 19:40. Reason: correction |
![]() |
![]() | #4001 |
BHPian ![]() Join Date: May 2009 Location: --
Posts: 896
Thanked: 1,139 Times
| ![]() Can an insurance provider reject a claim because the address on the RC and insurance do not match? Owner is the same, vehicle is the same. Just the address is different. Any pointers would help |
![]() |
![]() | #4002 |
BHPian ![]() Join Date: May 2009 Location: --
Posts: 896
Thanked: 1,139 Times
| ![]() |
![]() |
![]() | #4003 |
BHPian ![]() Join Date: Sep 2016 Location: Bangalore
Posts: 115
Thanked: 146 Times
| ![]() Hello guys, I have a query regarding the different IDVs I am getting while trying to renew the insurance. The vehicle in question is a Eon 1.0 and this is the 2nd year insurance renewal. The 1st year IDV was 3.13L. (Yeah it was a bit stupid of me to not check the insurance the dealer was giving me.) This year I am getting an IDV 3L from Hyundai insurance renewal team. From online renewals, the IDV ranges between 3.4 - 3.8L. I am a bit confused here since I am not sure which value to go with. The Hyundai team keeps on saying that IDV baseline for the 2nd year renewal should be the 1st year's IDV. They are also saying things like claims can get rejected if 2nd year IDV is greater than 1st year IDV. Is this true? Should I go with the IDV given by Hyundai team or should I go with the ones I am getting online? I am a little confused here. Can anyone recommend any good agent in Bangalore for insurance renewal, please? Thanks in advance. A. Ideally they should not. My RC is registered to a different address than where I am currently staying. I had a claim for an accident that happened after I changed house. The surveyor didn't ask anything about different addresses or anything. Claim was approved. Hope this helps. A. Last edited by Gannu_1 : 25th May 2017 at 08:52. Reason: Back to back posts merged. Please edit the previous post within the 30 minute window to add more contents to it. Thanks! |
![]() | ![]() |
![]() | #4004 | |
Senior - BHPian Join Date: Dec 2007 Location: Dubai
Posts: 3,949
Thanked: 283 Times
| ![]() Quote:
So, as per them, what should people staying at rented placed do? ![]() | |
![]() | ![]() |
![]() | #4005 | ||
Senior - BHPian ![]() | ![]() Quote:
But it would be a good practice to notify the Insurance co of the change of address. Quote:
Ex showroom rate of the model/variant times the depreciation in % depending on the years of ownership. Why depend on the agent when you can buy the Insurance online? | ||
![]() | ![]() |