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Old 19th February 2018, 11:25   #4006
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by Sujoy Mukherjee View Post
My Questions
1) Which plan should I go in for based on the assumption that I will not be able to make a claim in case the insurance value does not exceed Rs 45k (assuming this on a simplistic calculation of the NCB value * 6 years - some reduction in premium due to IDV going down)

2) Ideally I would like to be only protected for RTI and major accidental damage, but RTI does not seem to be available as a stand alone option for a car which is 3+ years old.

3) My experience during my last claim with TATA AIG and the agent has been really positive, so would like to stick with them only.

Sujoy
Sujoy,
Simple thumb rule is if the car repair cost in case of any damage is more than the NCB amount claimed during renewal, then getting the repairs done though insurance claim is the only practical way. Limiting oneself to a certain amount in order to save NCB is not at all practical.

Coming to your query: Amongst the two options which you have mentioned, I would suggest to opt for option B and add only zero dep add on cover cost to the premium. This way you still be will be covered against any major repairs without burning a big hole in the pocket.

Return to Invoice is generally offered by Insurance co for the first two years of ownership and is helpful only in case of Total loss or car getting stolen.

I would also suggest you to look for competitive rates instead of sticking to Tata AIG. Agreed you had a good experience, next Insurance co may have an even better one.
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Old 19th February 2018, 14:04   #4007
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by JohnyBoy View Post
Go for the claim. Insurance is exactly for this purpose.
Yes, after 'kitna deti hein', saving NCB is the next popular thing among us Indian car owners.
Thanks, JohnyBoy. I agree with your advice and will be going ahead with insurance claim.
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Old 19th February 2018, 14:21   #4008
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Default Re: Automobile Insurance Queries? Ask me

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The amount you quoted for repairs is roughly equivalent to 2 years NCB amount which practically means is that you save the NCB for 2 years and then get your car repaired. Are you willing to do that? I suppose not, hence getting the repairs done through insurance claim is the most practical way to go about it.

I would still suggest to get the repairs estimate from a FNG, not the road side ones. The repairs may cost less than 10K. If you are worried about the paint quality even MASS wont be able to restore to the factory paint quality.
Thanks, ghodlur. Yes, will go ahead with insurance claim.

Yesterday, I checked with a non-MASS near my place to get a feel of how much it might cost outside. This guy quoted me around 7K-7.5K, but he is asking to leave the car with them for 2-3 days. Not sure how safe that would be. Also, the paint shade and quality would be a concern. Though MASS says it will be the same, I have doubts whether it will look like original, but I believe MASS would be a better choice comparatively with respect to paint quality. Since around 3K is the difference amount and anyway I am going ahead with insurance now, I feel getting this done through MASS would be a better option.
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Old 19th February 2018, 16:13   #4009
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Default Re: Automobile Insurance Queries? Ask me

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I received this today and i was curious to understand whether what was promised has been delivered or not:

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Originally Posted by ghodlur View Post

The premium is quite hefty one.
The insurance comes up for renewal and i would appreciate suggestions since some experts did feel that the premium was high.
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Old 19th February 2018, 18:02   #4010
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Default Re: Automobile Insurance Queries? Ask me

Anybody has any experience for Future Generali or Kotak claim settlement? Are they fast?
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Old 20th February 2018, 09:28   #4011
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Default Re: Automobile Insurance Queries? Ask me

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The insurance comes up for renewal and i would appreciate suggestions since some experts did feel that the premium was high.
Hi,

The premium for Star Protect Platinum plan is surely higher than other plans, plus the maximum OD discount is 65% for non NCB or new policy holders and can go upto maximum 70% for NCB holders. I would suggest you to haggle with them for the same.

Mercedes Insurance has three companies Bajaj Allianz, Reliance and Chola. So the premium for all three will be same. If not specifically looking for Vehicle Replacement cover, I would suggest you to opt for Star Protect Gold cover, the add on premium for the same would be way lower than Platinum cover.
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Old 20th February 2018, 10:18   #4012
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Hi,
I would suggest you to haggle with them for the same.
With whom? The Mercedes Insurance or Chola?
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Old 20th February 2018, 10:30   #4013
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With whom? The Mercedes Insurance or Chola?
Chola is a partner in Mercedes Insurance. I suggest you to call up the dealer there. If I am not wrong, Benchmark cars is the dealer there and they have a very good setup of insurance services by the name of Landmark Insurance. I am sure they would be very willing to provide you the quote. If not, just PM me, will get the same done.
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Old 22nd February 2018, 18:12   #4014
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
Sujoy,
Simple thumb rule is if the car repair cost in case of any damage is more than the NCB amount claimed during renewal, then getting the repairs done though insurance claim is the only practical way. Limiting oneself to a certain amount in order to save NCB is not at all practical.

Coming to your query: Amongst the two options which you have mentioned, I would suggest to opt for option B and add only zero dep add on cover cost to the premium. This way you still be will be covered against any major repairs without burning a big hole in the pocket.

Return to Invoice is generally offered by Insurance co for the first two years of ownership and is helpful only in case of Total loss or car getting stolen.

I would also suggest you to look for competitive rates instead of sticking to Tata AIG. Agreed you had a good experience, next Insurance co may have an even better one.
Thanks for the update and suggestions to look at the other providers. I followed up with coverfox and also with policy bazaar and TATA AIG and found about the following about NCB and NCB protection. Hopefully it helps others..

NCB Protection and NCB
NCB protection allows the NCB discount to be protected only i.e. on paper the NCB becomes Zero (0%) and the existing NCB is treated as company discount. So in my case, TATA AIG will mention NCB as zero and Company discount as 50%. The NCB will follow the same path over the years.

So If I transfer the policy to some other provider, then I start at a Zero NCB which essentially make the premium much more. So sticking with TATA AIG and also moving to a bare minimum plan with Zero Dep.

Thanks
Sujoy
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Old 26th February 2018, 22:33   #4015
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Default Re: Automobile Insurance Queries? Ask me

I have a fairly old Innova which recently required an engine transplant. We sourced an engine from another vehicle and its now good to go. Question is - since its a different engine from the original one - do I need to update it with the insurance co? If so, what might be the procedure and docs required to clarify the change?

Also if its not changed, does it matter?
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Old 27th February 2018, 08:10   #4016
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Sujoy Mukherjee View Post
NCB Protection and NCB
NCB protection allows the NCB discount to be protected only i.e. on paper the NCB becomes Zero (0%) and the existing NCB is treated as company discount. So in my case, TATA AIG will mention NCB as zero and Company discount as 50%. The NCB will follow the same path over the years.

So If I transfer the policy to some other provider, then I start at a Zero NCB which essentially make the premium much more. So sticking with TATA AIG and also moving to a bare minimum plan with Zero Dep.
Sujoy,
This explanation was given by Coverfox or Tata AIG? Can you check the T&C of the add on cover from Tata AIG. AFAIK, the NCB protection add on cover allows to retain the NCB for upto 2 claims in a year and for the 3rd claim the add on cover ceases to exists. Definitely the NCB does not become zero when you have this add on cover and Insurance co cannot pass on the benefits in form of any discounts. If the NCB becomes zero on paper, then next renewal the NCB applied would be from start i.e 20% which is wrong in case you have 50% NCB eligibility. Suggest to speak to Tata AIG again for the clarification.

Quote:
Originally Posted by maverhick View Post
I have a fairly old Innova which recently required an engine transplant. We sourced an engine from another vehicle and its now good to go. Question is - since its a different engine from the original one - do I need to update it with the insurance co? If so, what might be the procedure and docs required to clarify the change?

Also if its not changed, does it matter?
Yes the engine no needs to be updated on the Insurance policy. But before that has the required changes been done on the RC as it would be the first document for the changes to be done. Post which the insurance policy needs to be updated.

In case of any claims, the Insurance co cross verifies the engine no/chassis no with the registration no on the policy document. If engine no is not changed, Insurance co can refuse the claim admission.
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Old 27th February 2018, 13:19   #4017
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Default Re: Automobile Insurance Queries? Ask me

My father recently passed away and renewal of the insurance is coming up this month. My understanding is that a heir certificate is required and it takes around 3~6 months to generate from the Taluk office and then this has to be submitted to RTO to get the name change done on RC book, which will take around 3 months.
My questions are
1)How do I go about renewing insurance in this scenario? (it is comprehensive policy). Do I inform them of this situation or is there a process set-in place for this scenario?
2)what is the liability/legality of me driving the car during this period?
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Old 27th February 2018, 14:33   #4018
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by Dennis View Post
My father recently passed away and renewal of the insurance is coming up this month.

My questions are
1)How do I go about renewing insurance in this scenario? (it is comprehensive policy). Do I inform them of this situation or is there a process set-in place for this scenario?
2)what is the liability/legality of me driving the car during this period?
My condolences.

Here is the best practical solution.
1. Just renew insurance for now in your father's name. If you do so online, it can be done in 5 mins.

2. You can drive the car, but it's prudent to set things in motion to change the ownership of the vehicle. The vehicle can be transferred to the legal heir, i.e your mother or your siblings or yourself. This process will take time, and till it happens, you can drive the car with the insurance in your father's name. Legally, you are obligated to inform the RTO about this within 30 days of the demise and get the ownership transferred with 3 months.

Following documents will be needed -
1. Original RC
2. Valid insurance in your name (or the legal heir)
3. Form 31 in duplicate with NOC of the financier if the vehicle is held under loan.
4. Form 30 with chassis imprint
5. Original death certificate
6. Affidavit by all heirs about not having any objection to this transfer
7. Attested copy of address proof of applicant.
8. PUC certificate
9. Legal heir certificate / Succession certificate
10. Court Order in case the heir is decided by Court

Now, once you have all the docs in hand (especially the heir certificate), approach the car insurance provider to change name in the policy to your name. The RTO will insist on this. Once all docs are submitted, it should take about 4 weeks for the updated RC to reach your home.

Last edited by blackwasp : 27th February 2018 at 14:41.
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Old 27th February 2018, 14:40   #4019
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Dennis View Post
My father recently passed away and renewal of the insurance is coming up this month. My understanding is that a heir certificate is required and it takes around 3~6 months to generate from the Taluk office and then this has to be submitted to RTO to get the name change done on RC book, which will take around 3 months.
My questions are
1)How do I go about renewing insurance in this scenario? (it is comprehensive policy). Do I inform them of this situation or is there a process set-in place for this scenario?
2)what is the liability/legality of me driving the car during this period?
Sorry to hear about the demise my friend. My deepest condolences.

1) It is better to inform the Insurance co of the demise. As a legal heir I am sure you should be able to renew the Insurance policy of the vehicle.

2) It would be better to get the ownership transferred and then you can drive the car. As long as you don't raise a claim, I am sure the Insurance co would not be bothered. If there is a claim and if the insurance ownership is not transferred, then chances of claim getting rejected would be there.

Was there a valid will in place where your father has bequeathed the car in your name? If yes, can you check if the copy of the will document can be submitted to both RTO and Insurance co for the change of ownership till the time the heir certificate is obtained?

Was a nomination in place for the Insurance policy?
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Old 27th February 2018, 17:22   #4020
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by tp_dominator View Post
Chola is a partner in Mercedes Insurance. I suggest you to call up the dealer there. If I am not wrong, Benchmark cars is the dealer there and they have a very good setup of insurance services by the name of Landmark Insurance. I am sure they would be very willing to provide you the quote. If not, just PM me, will get the same done.
Well, i have been trying* to get a quote from both Landmark Insurance as well as Chola MS and all they have done till now is that "We shall contact you in 15 minutes" and "Our sales team would revert with a quote-give us your email id"

I contacted Chola MS once again today and asked as to why i was being given the run-around? The call centre agent tried to connect me with 'Sales', but 'Sales' prefers to talk through the agent only. Essentially, what i gather is that i cannot renew with Chola MS directly, i have to go through Landmark Insurance only. Chola will not also give me a new policy ( i was just trying to understand the relationship between landmark and Chola MS and hence i put this poser for the sake of argument). All this was garnered by holding on to the call while the call centre operative went to and fro with 'Sales'. Something fishy here.

A little bird tells me that since my insurance is coming up for renewal in April, the quote would come with such timing that one has no time to shop around. Is there not a ruling by IRDA for advance notice? The best part is that i have received a mail from Landmark for renewal, but no quote-which was what started this run-around in the first place.

Forgetting that timing part mentioned above, the fact that i have to go through a particular intermediary only seems like Monopolies & Restrictive Trade Practices. I have no issue with any intermediary or Underwriter, but would like clarity on what i am paying for and the value i am getting.

* two calls to Landmark and three calls to Chola plus one mail to Chola.

Last edited by earthian : 27th February 2018 at 17:31.
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