[ghodlur]

I renewed the insurance for my Punto's 5th year from HDFC Ergo. The total premium came to 12390/- for an IDV of 445500/- including zero depreciation add on cover and 35% NCB. HDFC Ergo has a cashless tie up with FIAT workshop in Thane which is closest to my place. They do have cashless tie up with other FASS too for Mumbai/Navi Mumbai region. The buying experience has been smooth, good and fast. Instant policy (soft copy) issued. The chat with the representative was also good and answered most of my queries. However HDFC did not offer me the anti theft device discount (some Rs 300/-), as per them they don't offer discounts. Mentioned the same in the feedback form. The policy did not mention anything on the zero dep add on cover T&C, wrote to them and they promptly sent me the T&C.

Before zeroing on HDFC, checked out various Insurance websites and comparator websites. The present Insurer Future Generali did not even bother to send a renewal intimation. Upon writing to them, they offered only comprehensive coverage without zero dep add on cover as according to them the car is more than 5 yrs old( mfg -2012 and registered - 2013). They refused zero dep add on. In fact most of the websites - Comparator + official Insurance, do calculate the years of ownership from the date of manufacture rather than date of registration and hence refuse the zero dep add on which I feel in excessive. HDFC was the only one which offered zero dep add on based on registration date plus they allowed me to choose the correct IDV, hence opted for them.

All in all, hope the move to HDFC Ergo is a good one. As per the FASS, they are pretty quick in claim processing and are non fussy too.

[ramnaresh_2000]

My TUV300 met with a minor accident, front bumper brackets damaged and fender got scratches. Back bumper got a hole and back fender requires some heavy denting and painting. Mahindra quotes 15k for front and 12k for back. Shall I go with insurance claim? This is one month old car. I also took quotations from local denting workshops, they quoted 3k for fitting a screw to the front bumper and fender, denting and painting. 4k for fixing the hole on back bumper, denting and painting the back fender. My insurer is Bharathi AXA, should I go with claiming insurance or shall I get it done outside workshops? I really dont like the idea of fitting a screw to hold the bumper with fender as it will look ugly. Processing fee for insurance is around 2.5k. I am in a mix here. Any suggestions? Currently paid 36K for zero dip insurance - bumper to bumper. What will be the impact on NCB next year? How much will my insurance be next year?

[hserus]

Your ncb is gone if you make the claim.

You can claim but remember your premium will go up next year by a few k at least

Tinkering - a good tinker can make it quite invisible, and metal paste work etc can be done

If that is good enough go ahead tinker it

[ghodlur]

Originally Posted by ramnaresh_2000

My insurer is Bharathi AXA, should I go with claiming insurance or shall I get it done outside workshops?
Processing fee for insurance is around 2.5k. Any suggestions? Currently paid 36K for zero dip insurance - bumper to bumper. What will be the impact on NCB next year? How much will my insurance be next year?

IMHO, you should claim insurance since the repair cost is more than the amount you might save next year in NCB. Hence I would suggest make a claim and get it repaired at authorized workshop. You did a right thing by opting for the zero depreciation cover, this way your contribution will be negligible. Just enquire with the Insurance co if consumables are covered in the add on cover. If not then you might have to pay that from your pocket.

By Processing fee, did you mean the mandatory charge which is applicable when claim is lodged? If so, then yes 2.5K is correct for an SUV.

Did you have any NCB this year when buying Insurance for the TUV? If not then premium next year will be slightly lesser than the current premium due to reduced IDV but will be subject to TPL premium hikes if announced.

[ramnaresh_2000]

Thank you hserus and ghodlur for your inputs. Yes I meant the mandatory charge when I said processing fee. This is the first vehicle on my name. Previous vehicles were all registered under my fathers name.

One more question, the SA said that the insurance will only approve either front bumper or back bumper as they will see this as two separate accidents. Is this right? How should I proceed in such instance? Both happened on the same time, when autowala bumped me, I stopped suddenly and a bike hit me from back.

[hserus]

Originally Posted by drmohitg

My uncle is buying a new Tata Zest and giving his old Indica to Tata only to avail the ongoing exchange offer. Now my question is how can he get an NCB certificate made ( current Indica's insurance is from ICICI with a 50% NCB). ICICI people told him they would need a RC change to issue a NCB certificate. But how can he get that as the car will be bought by the dealer and then probably kept on parked for months till they find a suitable buyer. Whats the process in this case? Please help as the current valid insurance policy for his Indica is due for renewal on June 8 and he doesn't want to waste money in renewing the insurance for another year since the car is already being given off to the dealer ( the new ZEST is in transit).

Normally just the sale paperwork (showing RTO transfer of ownership form signed and handed to dealer, delivery note etc) is enough. However updated RC needs to be handed in to the insurance people once RTO processes it.

If you got it through an agent please let the agent do the hard work. Else walk into an ICICI insurance office, don't waste time with the call centre.

Originally Posted by ramnaresh_2000

Thank you hserus and ghodlur for your inputs. Yes I meant the mandatory charge when I said processing fee. This is the first vehicle on my name. Previous vehicles were all registered under my fathers name.

One more question, the SA said that the insurance will only approve either front bumper or back bumper as they will see this as two separate accidents. Is this right? How should I proceed in such instance? Both happened on the same time, when autowala bumped me, I stopped suddenly and a bike hit me from back.

If you can justify it in the insurance claim as "you hit a vehicle in front and braked, then somebody rear ended you when that happened" it counts as one incident. Be prepared to illustrate it / convince the surveyor whose call it is.

[ghodlur]

Originally Posted by ramnaresh_2000

One more question, the SA said that the insurance will only approve either front bumper or back bumper as they will see this as two separate accidents. Is this right? How should I proceed in such instance? Both happened on the same time, when autowala bumped me, I stopped suddenly and a bike hit me from back.

Tell the SA in strong words that it is for the Surveyor to decide whether it is two claims or one. Speak to the Surveyor regarding the incident, be present when the surveyor is surveying the vehicle. Most of the times the workshop guys and Surveyors are arms in glove and will try to deny a single claim. If so, try to reason out with the Surveyor. If things get out of hand, speak to Insurance co customer care.

Most of the times the Surveyor are not Insurance co employees, but outsourced. Hence the more the no of claims they register, the higher fees they earn.

[ramnaresh_2000]

Originally Posted by ghodlur

Tell the SA in strong words that it is for the Surveyor to decide whether it is two claims or one.
=====
Hence the more the no of claims they register, the higher fees they earn.

This makes sense. Will update once the claim is processed. Thank you for the valuable inputs, much appreciated.

[ramnaresh_2000]

Finally got a call from SA yesterday evening that the surveyor has completed the check and approved 100% insurance claim. Finally a breather. Thank you team for the support and guidance.

[singleton]

I sold my car, on which I had 25% NCB

I bought a used car now, which is running out of insurance (few days left). I am thinking that there is no point in running around to get the insurance transferred from the previous owner to mine; rather I will take a fresh insurance.

In this case, is it possible for me to carry forward (or use) the NCB which I had from my previous vehicle ?

Policybazaar agent says it is not possible; apparently NCB transfer and premium reduction is only applicable when you buy a new vehicle after you sell your previous one. Is that true ?

[aadya]

Originally Posted by singleton

I sold my car, on which I had 25% NCB

I bought a used car now, which is running out of insurance (few days left). I am thinking that there is no point in running around to get the insurance transferred from the previous owner to mine; rather I will take a fresh insurance.

In this case, is it possible for me to carry forward (or use) the NCB which I had from my previous vehicle ?

Policybazaar agent says it is not possible; apparently NCB transfer and premium reduction is only applicable when you buy a new vehicle after you sell your previous one. Is that true ?

AFAIK NCB is given for the owner of the car and not the Car perse. So as such there should not be a denial of transfer to new policy. Check with Bajaj Allianz or IFFCO tokio salesperson or visit a PSU Insurance office - they will have immediate answer.

[ghodlur]

Originally Posted by singleton

In this case, is it possible for me to carry forward (or use) the NCB which I had from my previous vehicle ?

When you sold your car, I hope you got the NCB certificate from the Insurance co. NCB stays with the owner and can be used to renew the Insurance of the car you bought recently.

Policy Bazaar is misleading you, don't fall for them.

[libranof1987]

Originally Posted by singleton

I bought a used car now, which is running out of insurance (few days left). I am thinking that there is no point in running around to get the insurance transferred from the previous owner to mine; rather I will take a fresh insurance.

The only possible drawback of this is, insurance companies may ask for a physical inspection of the car since it would have an expired policy. Could be an hassle.

As long as the car has a valid policy, everything is electronic and hence, very convenient.

[Endofdayz]

Originally Posted by Endofdayz

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.

Hi All,

Can someone help me wth this query.?

regards

[ghodlur]

Originally Posted by Endofdayz

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.

Sorry if this comes as late to you.

When you made the claim, how much did you pay from your pocket? If you had zero dep add on cover already, then your contribution would have been minimum. The reason the premium is increased coz the Insurance co is categorizing you as a high risk customer. Either you can opt for a different Insurance co which can offer lower premium or continue with the existing.

Zero depreciation add on cover is an important cover to have for vehicles till 5 yrs of ownership. I would suggest buy it.