[madhukar_n]

This car insurance seems like a scam to me. today i had renew my 4 year old baleno's insurance and called up a few guys for a quote. Each quote was different
bajaj-8800
royal sundaram(maruti ins) - 9400 - pratam motors
icici - 9400
tata aig - 10500
maruti ins (rns motors) - 10900

tata aig was the worst.. he ate my head and called up some 100 times. he used to tell me a quote and then for verification used to connect me to some other peron and that person would tell a totally diff quote and give various reason. the one thing that pissed me off was if i claim for any accident, then i have to give the previous year's policy copy also. if i dont give then they will make the claim invalid. is it true ??? looks absurd to me. he initially gave me a quote for 10800 and he brought it down to 9200 and when i said ok, during the verification they increased it to 10500.

how come each guy gave a diff quote ?? bajaj's IDV was high - 3,10,000 and ins was 8800 where as pratam motors guy IDV was 2,98,000.

finally went with the pratam motors royal sundaram bcos be came to my house in yelahanka and collected the docs and check. but quite a painful process though... talking to diff ins guys, negotiating.

[rjvora_2000]

Originally Posted by straightdrive

I found later that I will get 35% if I renew it directly at the company - it seems they don't permit the dealer to offer more than 30%. Will see how it compares in cash terms with the additional benefits the dealer is willing to give.

I will tell you one thing which I came to know just 2 day's before. Reliance has a system where in they have a total of 50% discount to play with. If they give you 30% discount dealer will get 20% commission. If they give you more discount they are left with less % of income to them.

So much illegal happening, according to IRDA no company is aloud to give more then 10% of commission.

Imagine a dealer selling new car's without any discount on them "They get 50% commission"

Originally Posted by madhukar_n

This car insurance seems like a scam to me. today i had renew my 4 year old baleno's insurance and called up a few guys for a quote. Each quote was different
bajaj-8800
royal sundaram(maruti ins) - 9400 - pratam motors
icici - 9400
tata aig - 10500
maruti ins (rns motors) - 10900

tata aig was the worst.. he ate my head and called up some 100 times. he used to tell me a quote and then for verification used to connect me to some other peron and that person would tell a totally diff quote and give various reason. the one thing that pissed me off was if i claim for any accident, then i have to give the previous year's policy copy also. if i dont give then they will make the claim invalid. is it true ??? looks absurd to me. he initially gave me a quote for 10800 and he brought it down to 9200 and when i said ok, during the verification they increased it to 10500.

how come each guy gave a diff quote ?? bajaj's IDV was high - 3,10,000 and ins was 8800 where as pratam motors guy IDV was 2,98,000.

finally went with the pratam motors royal sundaram bcos be came to my house in yelahanka and collected the docs and check. but quite a painful process though... talking to diff ins guys, negotiating.

I thing all the guy's who has quoted you different premium will have a different IDV. They must be offering different Un-name P.A. cover under T.P. Premium. They must be offering different discount as well.

Since you have already renewed your car, happy motoring.

[aka_iitd]

Originally Posted by rjvora_2000

Dear Friend's,

After Tata-Aig now Cholamandalam is offering a different product for our car's. The product is called Chola protect, which has 4 different sub-plan's. They are called as Optima, Superior, Elite, 360. Under all the 4 plan's there are few common thing's which are payable like: -

1. Loss of driving license - Rs. 500/-
2. Loss of car key - Rs. 1000/-
3. Loss of personal luggage - Rs. 10000/-

Benefit's under CARE plan I will post it later.

Looks good but how they will verify key loss and License loss. I believe they need FIR

[rjvora_2000]

Originally Posted by aka_iitd

Looks good but how they will verify key loss and License loss. I believe they need FIR

In case of key loss it is good for you to get FIR done. Yes in both the cases FIR is must.

[zteg]

Hey rjvora. I have some doubts on the car insurance.
I brought a used car around 4 months back. The RC is trasnferred to my name and i didnt bother to transfer the insurance. Mainly because they asked me to come on weekdays which I couldnt. The insurance is valid till March 2010.
I want to know the following.
1. In case of any issues, can i claim insurance. (cashless)
2. can I just get a new insurance in my name in March 2010.? For ez: Can i just go to ICICI or any others and ask for a new insurance? any issues with that? What are the formalities involved.?

zteg

[rjvora_2000]

Originally Posted by zteg

1. In case of any issues, can i claim insurance. (cashless)
2. can I just get a new insurance in my name in March 2010.? For ez: Can i just go to ICICI or any others and ask for a new insurance? any issues with that? What are the formalities involved.?

1. Since the RC says you are the owner of the car were as the insurance say's the person who has sold the car is still the owner of the car. So the claim is not payable even today also forget about March 2010.

2. Don't wait till March 2010, you have to change the name in the motor insurance at the earliest (I mean don't wait till tomorrow also.)

Which ever is your current insurance company you have to go to there branch along with the car as they may need the survey of the car. You need to pay some amount for the name transfer on it.

[Zenster]

Hey RJ, very informative thread, great job.

Here is my query:

I own a MS Zen Old Model (Nov-2001), I am the second owner. I need to get the new insurance. The old one was from IFFCO-TOKIO and was a Comprehensive one.

The issue is this old one has expired in June and I completely forgot .

Now what are my options in getting a new one:

1. Shud i stick to IFFCO only or go for a new one. I ask this because some companies do not need inspection and stuff from what i have HEARD.

2. What type of insurance shud i go for Comprehensive, First Party or Third Party since its a 8 year old car? Last time I had gone for Comprehensive bcos i had to change my windshield.

3. Lastly, what is the most hassle free way of getting this done. I ask because i work nights and sleep thru the day, hence taking the car to some place or awaiting someones visit for inspection etc will be very difficult.

Please reply soon as i'm running without any insurance since June. I know its a crime but i cant help it. I realized it only a week ago.

[rjvora_2000]

Originally Posted by Zenster

1. Shud i stick to IFFCO only or go for a new one. I ask this because some companies do not need inspection and stuff from what i have HEARD.

2. What type of insurance shud i go for Comprehensive, First Party or Third Party since its a 8 year old car? Last time I had gone for Comprehensive bcos i had to change my windshield.

3. Lastly, what is the most hassle free way of getting this done. I ask because i work nights and sleep thru the day, hence taking the car to some place or awaiting someones visit for inspection etc will be very difficult.

1. Since there is a brake, in insurance so inspection is must you can't avoid it, let it be through any insurance company. You can go to any company or agent near your home, so servicing becomes easy job for you.

2. Normally I always recommend Comprehensive insurance policy till 10 year's of age of your car, so that you get money when your car is stolen or total loss. (Comprehensive and First party insurance is one and the same thing just two different name's.)

3. Take your vehicle along with your 1 hour time to any insurance company or some good agent near your house and ask for a cover note as soon as you make the payment to them.

[aka_iitd]

Originally Posted by rjvora_2000

1. Since the RC says you are the owner of the car were as the insurance say's the person who has sold the car is still the owner of the car. So the claim is not payable even today also forget about March 2010.

2. Don't wait till March 2010, you have to change the name in the motor insurance at the earliest (I mean don't wait till tomorrow also.)

Which ever is your current insurance company you have to go to there branch along with the car as they may need the survey of the car. You need to pay some amount for the name transfer on it.

You will loose all the NCB if any which earlier owner was enjoying as the owner is changed. They will take the difference from today till date of policy is effective and charge the NCB

[aka_iitd]

Originally Posted by rjvora_2000

In case of key loss it is good for you to get FIR done. Yes in both the cases FIR is must.

Rupesh any more details on this policy like difference in premium between this and the normal one etc
Did anyone taken from team-bhp. looks interesting policy

[rjvora_2000]

Originally Posted by aka_iitd

You will loose all the NCB if any which earlier owner was enjoying as the owner is changed. They will take the difference from today till date of policy is effective and charge the NCB

You are Right!!!

But NCB is something which was not owned by him it was owned by the old user of the car.

Details of the policy from Chola I will post it by today.

[rjvora_2000]

Here is the copy of brochure.

On left hand side there are four different plan's.






Two different CARE plan's.

[Dicky_GT]

Hi RJvora would request your help on my cars first insurance renewal
i currently have a bajaj allianz insurance and planning to switch to Bharti AXA
i own a i10 bought last year itself. my dealer has suggested me this insurance.
some pointers:
1) the value depreciation they doing is 10% (Bharti AXA)
2) instead of discount i am getting 2 free service coupons
3) the quote i have got from other companies with discount is somewhere close to the same amount maybe a 500 rs here and there but the depreciation is 15%
i am totally in opinion of Bharti AXA but dont know many friends who have it.
Moreover some of the companies are offering very low premium for a comprehensive insurance which raises a doubt in my mind if there is any loop holes or if somestuff is not covered. Would require your expertise on the same.
Thanks in advance
Dicky

[rammishra]

Hi,

I was owning an Alto Vx which i have sold recently. The insurance of the vehicle was valid till 31 Aug 09.I have obtained 25% NCB from new india assurance today.

I am buying a new Indica Vista in the first week of september. Currently there is free insurance offer going on Vista, but since i am buying Vista through CSD, dealer willing to give me only 60% of free insurance.My questions are as follows:

1) Is Dealer right in offering me only 60% offer of free insurance to me?or is he eating some money from my free insurance.I confirmed from Tata Mototrs regional office, they said dealer can not offer me more than 60%.

2) How effectively i can best utilise my 25% NCB. Should i use it in first insurance of my new car? NCB certificate says it is valid for 3 years.

Regards
RP

[misquitas]

Originally Posted by rammishra

How effectively i can best utilise my 25% NCB. Should i use it in first insurance of my new car? NCB certificate says it is valid for 3 years.

I purchased an Alto LXI on May 30 2008 and sold my old Matiz on June 2, 2009. I obtained the NCB from my old Matiz car and subsequently used the benefit of a discounted insurance after my Alto completed one year. But check out details in your area and with your insurance company. Regards, Melvyn