Team-BHP - Automobile Insurance Queries? Ask me

Quote:

Originally Posted by shijanto4 (Post 4406758)

Also, they made it clear that they would need proof of an active insurance policy on Zen while NCB retention letter is issued. When specifically asked what if he doesn't renew the policy until the car is sold and then the buyer would buy a new insurance in his/her name, they mentioned within 90 days of policy expiry he can request for NCB retention letter by submitting a copy of new Zen policy in the buyer's name along with its sale proof. Sensing that would be a tedious process, he just bought a TP policy on Zen (as premium for a comprehensive policy without NCB was quite high) and got his NCB retention letter in hand in about five working days, which he used it for the Jazz policy. So, in all probability, an owner can own two cars simultaneously and choose on which he wants his NCB included, and I assume all insurance companies adopt the same rule. Please correct me if I am wrong.Thanks.

Absolutely correct my friend. I was referring to NCB endorsement which you are mentioning as NCB retention letter. Although I doubt that the validity of a mandatory requirement of Insurance on one car to issue the NCB endorsement/retention letter to use the accumulated NCB on the new car. Let me check and find out.

Other thing is if the Insurance for the new car is bought from the existing car insurer, the process becomes surprisingly faster provided the new car workshops have a cashless tie up with the Insurance co.

Quote:

Originally Posted by ghodlur (Post 4407111)

Other thing is if the Insurance for the new car is bought from the existing car insurer, the process becomes surprisingly faster provided the new car workshops have a cashless tie up with the Insurance co.

Yes, you are absolutely right. I went with the same insurance company when I changed my car last year and the process of NCB transfer was superfast! Thanks.

Hi

I am in a peculiar situation now. My car was insured with reliance and I wanted to renew it this month. So i went and installed their app and found that the renewal premium was high 18500 for polo petrol. To my surprise I saw a claim for 10000 rs settled in March for a car that's not mine. My car number is TN 22 DH 3808 but the claim was for TN 02 BL 1819. I mailed reliance and asked them for a clarification.

The surveyor today called me and said it was due to double oversight. First mistake was kun sales guys gave the same policy to both parties bcos both cars were in the name of C Ramaswamy.

Second oversight was even the other car came for a claim and the owner produced my insurance the surveyor didn't care to check it was ameo and not polo. And it was in a different address.

I still assume the surveyor is telling the truth. Not sure if there is any scam behind this. He called me up today and said he will give me the 4000 rs NCB bonus which I should have got it in the first place.

He asked me to renew the policy for 18500 (minus 4000 from him which will make it 14500 which is a fair amount)

What should I do? Take the money or explain everything to reliance which might end up badly against this guy. He says he explained his mistake to his manager who is the state level head and he agrees to copy the manager in all communication but not the reliance consumer care mail id. He also wants me to send a mail to reliance saying problem solved close the ticket.

Help a man who made a mistake? Or Stick to rules ?

Regards
Dev

Quote:

Originally Posted by irdevanand (Post 4410478)

What should I do? Take the money or explain everything to reliance which might end up badly against this guy. He says he explained his mistake to his manager who is the state level head and he agrees to copy the manager in all communication but not the reliance consumer care mail id. He also wants me to send a mail to reliance saying problem solved close the ticket.

Help a man who made a mistake? Or Stick to rules ?

Regards
Dev

Quite a peculiar situation you are in. I am surprised that the Surveyor is offering you money which ideally should have be routed through Reliance in the form of NCB. Generally the surveyor are third party. What you should be doing is getting the insurance renewal quote with 20% NCB applied, a clean slate on claims and a note from Reliance apologizing for the horrible mix up. Unless the above happens, pls don't close the ticket. If Reliance is playing hard to get, get the applicable NCB endorsed on an application letter and change Insurer.

I seriously wish you put this case on the social media, so that this kind of mistake in unrepeated.

Quote:

Originally Posted by diyguy (Post 4410557)

What will you do next year when your NCB restarts at 10 or 20%?

Since the claim is lodged in his name, the NCB will be zero during the renewal.

Quick queries -

1. I own a petrol Corolla, whose engine's cubic capacity is 1800cc. Is it acceptable if the insurer mentions the capacity as ">1500cc" on the Policy?

2. I want to renew my insurance policy. Can I, for the time being, buy a third party insurance policy, and within the same year but later on, buy another comprehensive policy?

Hi

I had met with an accident in Apr and car was declared a total loss. We were fortunate enough to escape without a bruise. Now the headache to settle the mess begins.

Is towing expense from accident location to service centre and rent charged by service centre covered in insurance policy? I need this doubt to be cleared before the wreckage is moved out of the service centre.

Quote:

Originally Posted by k88k (Post 4415961)

You will have to read your policy before you are able to figure that out.

Hello,
We have an eight year old Santro with us. My father never focused on NCB and thus never got a NCB certificate issued. This year when we were renewing the policy, I asked the insurance agent about the NCB and he said that NCB is only for car which are maximum five year old. Is it true? We have never claimed any repairs from the past eight years.

Quote:

Originally Posted by TDCIfever (Post 4415963)

Not true at all. NCB is applicable for cars for more than 5 years too till the owner has the car in his name. Since you have not claimed in all the years of ownership, the applicable NCB would be 50%. Please do use the same while renewing the insurance irrespective of the fact that NCB was not claimed till these years.

If you have the Insurance papers (maye be pdf copies) of all the 8 years which shows no claims, then no one can deny you the NCB.

Quote:

Originally Posted by k88k (Post 4415961)

The towing charges would be covered under the Road side assistance from either the Insurance co or the manufacturer if you had opted for it (or got it by default).

If the car has been declared a total loss, why should the workshop charges for the storage rent? Ask them to claim it from the salvage people if they have already scrapped it. Or talk to the Scrap dealer parallely to get the wreckage out of workshop boundary.

Mods: Sorry for that back to back post. Please merge the two posts. Thanks in advance.

Quote:

Originally Posted by ghodlur (Post 4415975)

I don't have any proof which states that I have not claimed my insurance in the past years. Can anything be done in this case?
Also wanted to ask if I can get a NCB the next time I renew my insurance? If yes, how much?

Quote:

Originally Posted by TDCIfever (Post 4416051)

You don't need any specific proof to show that you didn't make any claims all these years. Your latest policy which is due for renewal now would show the percentage of NCB accumulated thus far (pls check for that), and as far as I know, all insurance companies mention this in policies. If you are only going to change the insurance company, you will need a NCB certificate. If you are renewing it with your existing insurance company, then they should automatically include the NCB discount. As ghodlur has mentioned, it should be at least 50% NCB available if there had been no claim at all.

Yes, you can get the NCB discount applied during your next renewal. If you have 50% NCB available, then you will get a 50% discount in your basic OD (own damage) component of the premium.

Thanks.

Folks, I am getting a quote of INR 83K from Bajaj Alliance for first renewal of 320d GT with IDV of 34L.

It is zero dep with engine protection, consumables, return to invoice and tyres cover.

This includes their "Telematics" device. NCB carry forward is 20%.

Is it a good deal or should I look at somewhere else?

Quote:

Originally Posted by the_skyliner (Post 4418136)

Is it a good deal or should I look at somewhere else?

No harm to check with the comparator website like cover fox, policy bazaar etc to evaluate whats the premium offered by different Insurance cos. Use this only for comparison purpose. I hope the IDV calculated is correct, based on that get the premium quotes.