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Old 12th October 2017, 10:42   #4096
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Default Re: Automobile Insurance Queries? Ask me

Is it true that cars over a certain age will only receive only third party insurance policies? I renewed the policy of my tucson and had been putting off getting my windshield replaced. It has developed swirls and is a pain at nights. But now, it seems it will be completely out of pocket.....:(
How much would a tucson's windshield be, by the way.
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Old 12th October 2017, 11:16   #4097
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Quote:
Originally Posted by parsh View Post
Just a small correction.
Thanks a ton Parsh for the correction. Apologies for the overlook.

Quote:
Originally Posted by mayankk View Post
Is it true that cars over a certain age will only receive only third party insurance policies?
No, but the option of having Own Damage component is upto the vehicle owner. Third Party liability component is compulsory for all vehicles.
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Old 12th October 2017, 11:19   #4098
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No, but the option of having Own Damage component is upto the vehicle owner. Third Party liability component is compulsory for all vehicles.
I know you can opt for only third party at any point. But my agent told me that owing to the age of my car(12 years), I can only receive a third party policy. Is there such a directive to firms, or do they take such a call on the basis of the cars age?
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Old 12th October 2017, 12:05   #4099
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Originally Posted by mayankk View Post
I know you can opt for only third party at any point. But my agent told me that owing to the age of my car(12 years), I can only receive a third party policy. Is there such a directive to firms, or do they take such a call on the basis of the cars age?
No Mayank, nobody can restrict you to buy comprehensive insurance ever. We have had comprehensive for our 15 yr old car too.

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Insurance will cover ... 50% for painting charges.
Sorry to dig in a bit more Girish. Actually forgot to add this in earlier post only.

Just for clarity:
Rate of Depreciation for Painting : In the case of painting, the depreciation rate of 50% shall be applied only on the material cost of total painting charges. In case of a consolidated bill for painting charges, the material component shall be considered as 25% of total painting charges for the purpose of applying the depreciation, while the labour is covered 100%.
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Old 17th October 2017, 08:42   #4100
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Guys, I have an urgent question. My car insurance expired last night. The policy read midnight 17 Oct, so I thought I have today to renew. But it is now showing that it expired yesterday.

I had taken Bharathi Axa through Coverfox. Now when I am trying to renew the insurance through Coverfox, it is mandating an inspection. While the car doesn't have any major damage apart from regular nicks and bruises, I am afraid that they will make a scene if I make an actual claim during this year. What options do I have? Any pointers will be helpful....
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Old 17th October 2017, 09:01   #4101
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Originally Posted by shifu View Post
Guys, I have an urgent question. My car insurance expired last night. The policy read midnight 17 Oct, so I thought I have today to renew. But it is now showing that it expired yesterday.

I had taken Bharathi Axa through Coverfox. Now when I am trying to renew the insurance through Coverfox, it is mandating an inspection. While the car doesn't have any major damage apart from regular nicks and bruises, I am afraid that they will make a scene if I make an actual claim during this year. What options do I have? Any pointers will be helpful....
Expired Insurance will need inspection of the car by the issuing Insurance co. Have you tried talking directly to Bharti Axa about the renewal? They should be happy to arrange an inspection and issuance of policy.

Once the policy is issued, there should not be any issue regarding the claims.
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Old 17th October 2017, 10:53   #4102
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Originally Posted by shifu View Post
Guys, I have an urgent question. My car insurance expired last night. The policy read midnight 17 Oct, so I thought I have today to renew. But it is now showing that it expired yesterday.

I had taken Bharathi Axa through Coverfox. Now when I am trying to renew the insurance through Coverfox, it is mandating an inspection. While the car doesn't have any major damage apart from regular nicks and bruises, I am afraid that they will make a scene if I make an actual claim during this year. What options do I have? Any pointers will be helpful....
Quote:
Originally Posted by ghodlur View Post
Expired Insurance will need inspection of the car by the issuing Insurance co. Have you tried talking directly to Bharti Axa about the renewal? They should be happy to arrange an inspection and issuance of policy.

Once the policy is issued, there should not be any issue regarding the claims.
Thanks for the response.

All is well....all is well...

For some reason my policy is not coming up on Bharthi AXA website. I assumed because it has expired. I called them up and they said the policy is valid for today as well. Now scouting for options. Looking at policy bazaar and coverfox.
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Old 17th October 2017, 11:00   #4103
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Looking at policy bazaar and coverfox.
Why not try on Bharti's website to get the quote? Use Coverfox to compare the quotes.

So did Bharti confirm that inspection is not required if the policy is bought today?
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Old 17th October 2017, 11:15   #4104
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Thanks for the response.

All is well....all is well...

For some reason my policy is not coming up on Bharthi AXA website. I assumed because it has expired. I called them up and they said the policy is valid for today as well. Now scouting for options. Looking at policy bazaar and coverfox.
Just renew it on the Axa website or through their call centre.

The 3rd party sites will sell your data to a ton of insurance agents and they will all spam you.
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Old 17th October 2017, 12:41   #4105
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Originally Posted by ghodlur View Post
Why not try on Bharti's website to get the quote? Use Coverfox to compare the quotes.

So did Bharti confirm that inspection is not required if the policy is bought today?
Yes, confirmed.

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Just renew it on the Axa website or through their call centre.

The 3rd party sites will sell your data to a ton of insurance agents and they will all spam you.
AXA's quote seems to be pretty high. For an IDV of 2.7L (it was 3.0L last year, depreciated by 10% for this year), Axa is around 12k, whereas HDFC Ergo is at 9k. I checked with the service center, and they accept cashless claims from both. The service center folks were selling Universal Sompo. And that is even cheaper at 8k. I don't have much feedback though.

Still thinking...
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Old 17th October 2017, 13:01   #4106
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AXA's quote seems to be pretty high. For an IDV of 2.7L (it was 3.0L last year, depreciated by 10% for this year), Axa is around 12k, whereas HDFC Ergo is at 9k. I checked with the service center, and they accept cashless claims from both. The service center folks were selling Universal Sompo. And that is even cheaper at 8k. I don't have much feedback though.
Just check the claim process of HDFC Ergo or Universal with the workshop guys and confirm which offers more peace of mind and less chasing. Even if costs a bit more than the normal. The claim processing with least turn around time should be the one you should buy.

Whatever you buy, ensure that the IDV calculated is correct and get the quotes for the correct IDV.
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Old 24th October 2017, 10:11   #4107
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by mayankk View Post
I know you can opt for only third party at any point. But my agent told me that owing to the age of my car(12 years), I can only receive a third party policy. Is there such a directive to firms, or do they take such a call on the basis of the cars age?
There is no directive from regulatory body on the max age upto which comprehensive insurance can be provided by insurers. However, insurers themselves set cut off ages as post 10 years as value of cars are highly depreciated, owners generally tend to take less care of their cars and hence prone to more damage and there is chance of very slim profit for the insurer as such.

Hence, if you check online, you will find very less insurers offering comprehensive policies for vehicles > 10 years, even lesser for vehicles > 12 years and no insurer offering policies for vehicles > 15 years. Also, discount offered on these cars will be very less or nil. There is high probability that your 11th year premium is > than you 10th year premium. You might get more quotes and options offline for cars beyond 10 years.
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Old 24th October 2017, 11:14   #4108
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Is RO-RO covered by the regular car insurance policy? There have been such ferry services in Konkan for quite some time but I have refrained from putting my car onto the ferry because I am not sure if insurance covers it. I asked this on HVK forum as well and a couple of members think our regular policy covers RO-RO. Sadly, "the proof of the pudding is in the eating". Every once in a while I read in papers that someone put the car on the boat and forgot to pull the handbrake and car rolled into the water, etc. Does anyone know if insurance company settled the claim in any such case?

Note: the trigger for this query is the news about the RO-RO service started in Gujarat last week.
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Old 24th October 2017, 20:24   #4109
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Hello BHPians , quick question.

Around ten days ago, I bought a pre worshiped XUV whose insurance policy is due for renewal on Nov 4. I'm yet to initiate the process for registering the car in my name. I believe the addition of my name to the RC will take atleast a month. I was wondering if I can renew the insurance online. Will it be an issue I renew it now and transfer it to my name later once the RC has been updated?!
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Old 25th October 2017, 09:00   #4110
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Is RO-RO covered by the regular car insurance policy?
Unless it's an intentional act, this will be treated as an accident and has to be covered by regular insurance policy. Checked this with senior person working in insurance sector, he himself hasn't come across such a claim yet though.
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