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Old 6th March 2019, 16:01   #4261
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Try the compartor website like coverfox, policybazaar, acko, digit etc to check the premium offered online. If you still want to buy insurance from the dealer, then ask them to match the online premium as I am sure online premium will be lesser than the one offered by dealer.

If you are satisfied with Reliance based on their claim settlement process (if you have claimed), then better to continue with it. But suggest to buy Insurance from outside.
Thanks for responding, I haven't claimed anything in the last year so the service side of reliance is not something I am aware of. I am looking for a reasonable quote from any source, I have checked with websites and yet to decide on one.

How good id Digit and new providers? I am getting mixed reviews online.
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Old 6th March 2019, 19:09   #4262
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Hello BHPians!

Has the GST on third party premium been decreased? It was considered that the GST for third party premium may dip to 5% from the existing 18%.

Mine is due for renewal on 11th of April.

Regards.
Unfortunately there is no change in the GST rates applicable for 3rd party insurance premium for private vehicles. It is still at 18%. The rate has been dropped to 12% for the TPL premium for the goods carrying vehicle only.
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Old 7th March 2019, 00:06   #4263
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Default Re: Automobile Insurance Queries? Ask me

When I bought my Ignis in September last year, I had to pay Third party insurance for 3 years. Also my insurance validity in Vahan shows valid till xx Sep 2021. I am curious how am I supposed to renew my insurance this year without paying for Third Party Cover ? None of the websites show that option yet.

Also another friend bought a new car last week, and he got an insurance with Third Party, 0 Dep, engine protector and RTI all together valid for 3 years.

Last edited by Altocumulus : 7th March 2019 at 00:07.
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Old 7th March 2019, 07:57   #4264
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Default Re: Automobile Insurance Queries? Ask me

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When I bought my Ignis in September last year, I had to pay Third party insurance for 3 years. Also my insurance validity in Vahan shows valid till xx Sep 2021. I am curious how am I supposed to renew my insurance this year without paying for Third Party Cover ? None of the websites show that option yet.

Also another friend bought a new car last week, and he got an insurance with Third Party, 0 Dep, engine protector and RTI all together valid for 3 years.
You will have to pay only the OD premium part. I am sure when you go to renew the Insurance at the Insurance co website, they will show the TPL premium part as already paid. If not, then you will need to call them up for the goof up.

In fact when the TPL bundling of 3 yrs directive was released by IRDA, all the insurance co offering motor insurance were clearly told to provide the option of paying only the OD premium.
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Old 10th March 2019, 02:30   #4265
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by Altocumulus View Post
When I bought my Ignis in September last year, I had to pay Third party insurance for 3 years. Also my insurance validity in Vahan shows valid till xx Sep 2021. I am curious how am I supposed to renew my insurance this year without paying for Third Party Cover ? None of the websites show that option yet.

Also another friend bought a new car last week, and he got an insurance with Third Party, 0 Dep, engine protector and RTI all together valid for 3 years.
Hello sir,

I work with one of the leading insurers. If you would like I could help you out with your insurance case. Please DM me if you need.

Cheers.
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Old 14th March 2019, 10:16   #4266
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Default Re: Automobile Insurance Queries? Ask me

Hello, has anybody used this portal for insurance renewal - https://icai.newindia.co.in/Account/Home

This is exclusive to chartered accountants and the insurer gives some discount apparently. Is it legit or has some hidden t&c restricting claims?
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Old 14th March 2019, 10:27   #4267
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Default Re: Automobile Insurance Queries? Ask me

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Hello, has anybody used this portal for insurance renewal - https://icai.newindia.co.in/Account/Home

This is exclusive to chartered accountants and the insurer gives some discount apparently. Is it legit or has some hidden t&c restricting claims?
It appears to be a corporate discount sort of deal that ICAI worked out with New India Assurance as a benefit for its members. Just the same insurance as you'd get from New India as someone who isn't an ICAI member, but you pay slightly less premium, have a dedicated service contact with an SLA etc I guess.

As I see they have office insurance as well as professional indemnity (which insures you against a lawsuit from or related to a client).

Last edited by hserus : 14th March 2019 at 10:28.
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Old 14th March 2019, 10:50   #4268
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It appears to be a corporate discount sort of deal that ICAI worked out with New India Assurance as a benefit for its members. Just the same insurance as you'd get from New India as someone who isn't an ICAI member, but you pay slightly less premium, have a dedicated service contact with an SLA etc I guess.
I assumed that's how it would work but I don't see how their offer is better than what I'm getting on policy bazaar. 2017 registered Creta with 11.50L as IDV is at 29,000 with GST on both sites.
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Old 14th March 2019, 11:11   #4269
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Default Re: Automobile Insurance Queries? Ask me

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I assumed that's how it would work but I don't see how their offer is better than what I'm getting on policy bazaar. 2017 registered Creta with 11.50L as IDV is at 29,000 with GST on both sites.
If you go through policybazaar your personal data is sprayed out to a large number of insurance brokers around your city and you will get many calls about switching your insurance even five years after you sold your old car.
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Old 14th March 2019, 11:22   #4270
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Default Re: Automobile Insurance Queries? Ask me

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If you go through policybazaar your personal data is sprayed out to a large number of insurance brokers around your city and you will get many calls about switching your insurance even five years after you sold your old car.
I always enter my deactivated number and they seem to accept it somehow
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Old 14th March 2019, 11:28   #4271
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Default Re: Automobile Insurance Queries? Ask me

Anything specific to keep in mind when buying insurance from a new car online (e.g. Coverfox, Policy Bazaar etc), other than :

1. Engine number and chassis number to be provided when filling in the details.
2. 1 year own damage + 3 years third party insurance is mandatory
3. Addition of the zero depreciation option.

If these three things are taken care of, it will be equivalent to what the car dealer insurance providers would be providing, correct? Is there anything else to be taken care of when purchasing the new car insurance?
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Old 14th March 2019, 11:38   #4272
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by arindambasu13 View Post
Anything specific to keep in mind when buying insurance from a new car online (e.g. Coverfox, Policy Bazaar etc), other than :

1. Engine number and chassis number to be provided when filling in the details.
2. 1 year own damage + 3 years third party insurance is mandatory
3. Addition of the zero depreciation option.

If these three things are taken care of, it will be equivalent to what the car dealer insurance providers would be providing, correct? Is there anything else to be taken care of when purchasing the new car insurance?
4. Any electrical accessories added?
5. If possible try to get the Return To Invoice add on too.
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Old 14th March 2019, 12:05   #4273
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Default Re: Automobile Insurance Queries? Ask me

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If you go through policybazaar your personal data is sprayed out to a large number of insurance brokers around your city and you will get many calls about switching your insurance even five years after you sold your old car.
Hello sir! Long time, no interactions with you...

I am very surprised if one's personal contact info is shared with sundry brokers by web aggregators like Policybazaar. At work, I've been studying the regulatory framework laid out by the IRDA for functioning of licensed web aggregators such as policybazaar. They are only authorized to allow the user to choose 4 or 5 possible insurers' products, compare them and to finally choose one of them.

Once the customer buys one of them, policybazaar is actually mandated by the IRDA to share the lead information with all 4 or 5 of the insurers. They only get paid by the insurer whose product got purchased though. They don't get paid to share the leads with the other 4 insurers.

If there's a breach in the way policybazaar sells our info, their license can be summarily cancelled by the IRDA. IRDA's ombudsmen are reachable; the only thing is, how do we know if a broker received our info illegally?

To give them the benefit of the doubt - the insurers who legally receive lead information from policybazaar might well be sharing it with brokers out there...
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Old 14th March 2019, 12:24   #4274
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Default Re: Automobile Insurance Queries? Ask me

The rules did change to tighten things a bit around 2014 but lead generation is rather an unethical field in India. Even if the portals don't leak your data out the brokers will surely do it.

That's why you buy your policy direct from the insurer either online or through an official of the insurance company at their own office itself.

https://www.medianama.com/2014/01/22...ndia-response/
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Old 17th March 2019, 11:05   #4275
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Got a renewal notice from Maruti Insurance brokers for my 13 year old Swift ZXI with IDV of 1.08L at Rs 5002. Checked Coverfox and found Reliance to be cheaper at Rs 4534 for 2.21 IDV with free road side assistance included. Made the payment and received the policy in 15 mins.
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