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Old 13th September 2018, 20:00   #4141
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Default Re: Automobile Insurance Queries? Ask me

Look for value, certainly, but to "nickel-and-dime" on insurance cover is not always a good idea, and can end up being costly. My thinking is to look for the cover you want, look for a company whose reputation for customer care matches what you hope for... and pay the price.

There is, however, one very good way of maybe reducing premiums a little. Don't insure against what you can afford to pay for anyway. What this means, for motor insurance, is deciding how much you can easily afford (and maybe wouldn't even bother to make a claim for) to pay for a repair, and increase the amount you will have to pay anyway, the "excess," to that amount.
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Old 16th September 2018, 14:01   #4142
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Guys, its about time I renew the insurance for the car - old one would expire on second week of October.

Been comparing various options, and If I specifically compare Maruti Insurance(via National Ins) with that of Reliance Insurance -

there is a difference of about 5000rs between them using the same IDV, same benefits, same deductibles etc.

Any feedback regarding Reliance Insurance ?
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Old 18th September 2018, 19:55   #4143
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Quote:
Originally Posted by ptaneja View Post
Any feedback regarding Reliance Insurance ?
Although personally not experienced, but have heard a lot of horror stories from few friends who had raised claims from Reliance insurance. Lot of hassles were mentioned.

Did you check online at the comparative websites? Are you getting the premium quotes on similar prices. If so, you could buy online directly instead of through Maruti.
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Old 18th September 2018, 20:56   #4144
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Originally Posted by ghodlur View Post
Although personally not experienced, but have heard a lot of horror stories from few friends who had raised claims from Reliance insurance. Lot of hassles were mentioned.

Did you check online at the comparative websites? Are you getting the premium quotes on similar prices. If so, you could buy online directly instead of through Maruti.
Wow - I was just about to go ahead with Reliance !!

Which one would you suggest ?

With IDV value of 6.40 L, 50% NCB, getting the following on Policy Bazaar -
(excluding GST)
Future Generali - 9880
United India - 10111
Oriental - 10354
Iffco Tokio - 13961


But for way lower IDV ( 6.0 L )
Maruti Ins via National - 15500 including GST
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Old 19th September 2018, 00:11   #4145
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Quote:
Originally Posted by ptaneja View Post
But for way lower IDV ( 6.0 L )
Maruti Ins via National - 15500 including GST
It's almost always better to go with online renewal unless the automaker has very thin dealership network with only one or two workshops near you. Since it is Maruti in this case, I'm sure there would be no such problems.

If you want some recommendation: I have made 2 claims with Tata AIG in the past and my experience has always been very smooth. Not only that, I found their customer support more helpful and proactive in case you want to make a correction in the policy, or want a hardcopy delivered, or something on the same lines.

Going by your Ciaz ownership thread, it looks like you're from Gurgaon side. My service advisor at Maruti workshop often says that Tata AIG, Bajaj Allianz and most others have a sorted and quick claim settlement process at Maruti workshops in NCR. So do check out premium quotes from these insurers as well.

Don't rely on Policy Bazaar completely for comparison. Just pick the top three or four insurers with reasonable premium quotes and visit their websites. This is where you'll find what all covers you can opt for (engine, return to invoice, ncb protect, etc.) and then go for the one which offers best value according to you.

Last edited by self_driven : 19th September 2018 at 00:20.
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Old 19th September 2018, 07:41   #4146
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Quote:
Originally Posted by ptaneja View Post
Future Generali - 9880
United India - 10111
Oriental - 10354
Iffco Tokio - 13961
Which of these Insurance co have a cashless tie up with the Maruti workshop where you normally service your car? Before finalizing, try to have a word with workshop people to check if the claims processing is good enough. You dont want to end up choosing the cheapest insurance where claims processing will be a nightmare.

As said by self_driven, use the comparator websites only for comparison purpose, buy Insurance from the Insurance co website directly.
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Old 19th September 2018, 16:04   #4147
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Quote:
Originally Posted by ghodlur View Post
As said by self_driven, use the comparator websites only for comparison purpose, buy Insurance from the Insurance co website directly.
Quote:
Originally Posted by self_driven View Post
It's almost always better to go with online renewal unless the automaker has very thin dealership network with only one or two workshops near you. Since it is Maruti in this case, I'm sure there would be no such problems.

Going by your Ciaz ownership thread, it looks like you're from Gurgaon side.
Almost all of them are providing cashless on Maruti Auth centres .

Quotes gathered from their own respective sites -

IDV 6.40 L ( last year quote was 7.11 )
NCB 50%

Tata AIG > 14689/-
Bharti AXA > 14399/-
HDFC Ergo > 17683/-
Iffko > 15043/-


Maruti Ins with IDV of 6.04L is quoting around 15K - didnt see an option to increase IDV.

What should be the ideal IDV for car ? Based on car age/mileage/variant, or based on a standard rate of 10% depreciation from last year policy ?
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Old 19th September 2018, 17:45   #4148
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Quote:
Originally Posted by ptaneja View Post
Almost all of them are providing cashless on Maruti Auth centres .



Quotes gathered from their own respective sites -



IDV 6.40 L ( last year quote was 7.11 )

NCB 50%



Tata AIG > 14689/-

Bharti AXA > 14399/-

HDFC Ergo > 17683/-

Iffko > 15043/-





Maruti Ins with IDV of 6.04L is quoting around 15K - didnt see an option to increase IDV.



What should be the ideal IDV for car ? Based on car age/mileage/variant, or based on a standard rate of 10% depreciation from last year policy ?

Yes sir, IDV ideally should be ex-showroom value less 5% at the time of purchase and less 10% every subsequent year.
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Old 20th September 2018, 07:57   #4149
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Quote:
Originally Posted by ptaneja View Post
What should be the ideal IDV for car ? Based on car age/mileage/variant, or based on a standard rate of 10% depreciation from last year policy ?
The ideal IDV is 6.4L for which you have got the quotes.
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Old 20th September 2018, 10:43   #4150
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Default Re: Automobile Insurance Queries? Ask me

I received below quotation from Maruti Insurance. I am two days late for Insurance renewal. I have to renew it today only. Policy Bazar has some nice options. What's the major benefit of buying Insurance from Maruti? Isn't Maruti Insurance just an Insurance agent?

Automobile Insurance Queries? Ask me-pic1.jpg

Last edited by SJM1214 : 20th September 2018 at 10:46. Reason: Minor Change.
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Old 20th September 2018, 10:51   #4151
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Quote:
Originally Posted by SJM1214 View Post
I received below quotation from Maruti Insurance. I am two days late for Insurance renewal. I have to renew it today only. Policy Bazar has some nice options. What's the major benefit of buying Insurance from Maruti? Isn't Maruti Insurance just an Insurance agent?

Attachment 1800267
Most likely, a middlemen between IRDAI approved Insurance Providers and Consumers. And in the end we end up paying extra to these middlemen !
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Old 20th September 2018, 13:15   #4152
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Quote:
Originally Posted by SJM1214 View Post
My first insurance renewal is due on 15/09/2018.

Car : Maruti Vitara Brezza ZDI
Make : 2017
Deliver Date : 17/09/2017
Policy issue: 16/09/2017
IDV : 831223

Quote:
Originally Posted by SJM1214 View Post
I have to renew it today only.
Just Purchased second-year Insurance from Policy Bazar. A nice deal from TATA AIG at 16932/- with the IDV of 7,50,000/-.

Automobile Insurance Queries? Ask me-tata.jpg
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Old 21st September 2018, 14:49   #4153
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Originally Posted by swageo View Post
If I agree to above process, everything will be smooth. And it seems 1400 claims got settled like this ! and they blame me asking this question...
My father is facing the same situation after the Kerala floods. He is nearly 80 and doesn't want to run from pillar to post for the money. His car has been taken by a scrap dealer for about 40% of the IDV value (payment has been made for this amount). The insurance company will pay the rest. The original documents are with the insurance company. All he has is an affidavit stating that the ownership will be transferred within two weeks.
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Old 21st September 2018, 17:53   #4154
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Default Re: Automobile Insurance Queries? Ask me

My 7 year old scooter insurance was up for renewal and I did it through policy bazaar. The start date on the new insurance (through Royal Sundaram) is incorrect, though I had mentioned the correct details while filling up the form. My previous policy expired on 15th of this month and the RS one starts from 21st. I intimated them immediately, and they asked for the previous policy, which I provided and after that there has been no update from them. Every time I call or mail, I get a standard response that they are looking into this. Do I need to pursue them for change in date or let it be since the policy is active from today onward?

I have my car insurance with them as well and that was why I went with them for the 2W as well, but looking at their lack of response, I probably will not go back to them for renewal for both my vehicles.
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Old 21st September 2018, 18:41   #4155
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by dass View Post
My 7 year old scooter insurance was up for renewal and I did it through policy bazaar. The start date on the new insurance (through Royal Sundaram) is incorrect, though I had mentioned the correct details while filling up the form. My previous policy expired on 15th of this month and the RS one starts from 21st. I intimated them immediately, and they asked for the previous policy, which I provided and after that there has been no update from them. Every time I call or mail, I get a standard response that they are looking into this. Do I need to pursue them for change in date or let it be since the policy is active from today onward?
My friend has been a sufferer of Policy Bazaar's lack luster customer care in resolving issues. Even when I renewed my motorcycle's policy last year (Iffco Tokyo through Policy Bazaar), they sent me a policy mentioning incorrect city in my address. I mailed straight to Iffco Tokyo, who sent me a corrected version by next day.

Would suggest that you mail RS directly in this case. I agree that since PB is the broker here, they should take the lead in resolving the same but I feel that your resolution might speed up by going to the insurer directly.

regards,
Saket.
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