Team-BHP - Automobile Insurance Queries? Ask me

Quote:

Originally Posted by rammishra (Post 1455549)

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

Quote:

Originally Posted by rammishra (Post 1455549)

I guess the dealer is offering free insurance on new "full value" purchase. Since you are buying through CSD, he would not get his usual commission on this sale. Hence, he is well within his rights in offering to cover only 60% of the insurance cost.

You can use your NCB now or at the next annual renewal as the NCB is valid to at least 2 years (some cases up to 3 years). If you use it now what you are out of pocket for the 40% of the insurance cost will be lower by that much.

Best Regards & Drive/ride Safe

Ram

I have today concluded my insurance renewal for the SX4 ZXI (2007) with Bajaj Allianz as per following details :

(a) IDV Rs.4,17,000/-

(b) PA cover for Driver & 4 passengers (Rs.500/-)

(c) No Claim Bonus - NIL (I had a claim last year)

(d) Total Premium Rs.11,024/-

Bajaj Allianz also gives Cashless Service as also has a country wide tie up with Maruti dealers, the two strong points of "Maruti Insurance". However, I have managed to save Rs.4600/- approx. as compared to the Maruti quotation.

Thanks a lot all of you who recommended Bajaj. I hope they live up to their reputation as far as the Service is concerned !

Ashok Sawhney

Quote:

Originally Posted by Speed-Gladiator (Post 1472555)

I bought a used Scorpio, (2005 model for 4.10L), which is having only 3rd party insurance from National Insurance company But I would like to convert that in to the comprehensive insurance, is it possible to convert now ? If yes how much would be the premium amount I need to pay for that

Thanks

Sirji transfer from TP policy to comprehensive insurance policy is very much possible, you need to contact insurance agent or company for amount.

Quote:

Originally Posted by npraneethreddy (Post 1471553)

Hello,
I have bought a car with CP valid till next year. I have applied for transfer of ownership.
Have a question on the Insurance, will this be automatically transfer to my name along with the ownership transfer or do i need to make do it myself?

Regards,
Praneeth Nimma

Transfer of name is done from RTO. Transfer of insurance and RTO is different, you have to contact insurance company after you receive the RC book in your name.

Quote:

Originally Posted by aka_iitd (Post 1471128)

Strips007 i guess no one pays 100% for plastic parts. Rupesh can help on this

Ashok try bajaj as for my SX4 5.54L I paid 11.5 K along with 20% NCB. Bajaj will also provide cashless. Not sure need to check with them

Chola and Tata Aig has a separate insurance policy which will cover the plastic parts 100% otherwise all companies deduct 50% of the value.

Quote:

Originally Posted by Speed-Gladiator (Post 1472555)

SG,

Little clarification to what rjv has said.

There is no question of conversion from TP to Comprehensive. All you have to do is to buy a new Comprehensive one. I don't know if any cancellation refund is allowed on TP Insurance these days. If so you can cancel the TP one and get a refund.

If cancellation of TP Ins is possible the try for the comp from National itself as they might give you a pro-rata refund than a short period refund and the refund can be adjusted towards the premium of Comp insurance.

Best Regards

Take care & Drive/Ride Safe

Ram

Need help!!

The AIG fellow is saying that if I ask for a company discount, lets say around 30-35%, as i am asking, I will lose out on the voluntary excess discount[VED] and if I dont pay them as per their calculation then the VED will be taken into account - i.e. that means I also fork out money for an accident.

Is this true - VED is applicable automatically if I ask for a company discount? Isnt there an option in the form where it clearly says whether I will opt for VED or not - that should be the owner's right not the company to decide?

Safari Oct 2007 has been incident free for 2 years now and self driven

As per the old posts and my understanding, I calculated like

for a IDV value of 500,000 with service tax and all and insurance 2 perons around 11,700-12,000/- is this okay or too aggressive. Previous insurance is with ICICI and premium of Rs 15,370 including service tax of 12.3% then.

Thanks all in advance and this is one of the most helpful threads out here in Tbhp

Quote:

Originally Posted by adc (Post 1485385)

The AIG fellow is saying that if I ask for a company discount, lets say around 30-35%, as i am asking, I will lose out on the voluntary excess discount[VED] and if I dont pay them as per their calculation then the VED will be taken into account - i.e. that means I also fork out money for an accident.

Is this true - VED is applicable automatically if I ask for a company discount? Isnt there an option in the form where it clearly says whether I will opt for VED or not - that should be the owner's right not the company to decide?

Safari Oct 2007 has been incident free for 2 years now and self driven

As per the old posts and my understanding, I calculated like

for a IDV value of 500,000 with service tax and all and insurance 2 perons around 11,700-12,000/- is this okay or too aggressive. Previous insurance is with ICICI and premium of Rs 15,370 including service tax of 12.3% then.

Let me tell you Tata-Aig is doing fooling business with you. Discount which they are saying will affect the voluntary excess is a wrong sales talk.:Frustrati

If at all Bajaj is near you or they have a tie-up with your service station then it is the best auto insurer in the market.

Quote:

Originally Posted by adc (Post 1485495)

For a IDV of 502440, the lowest after bargaining I am getting for a Safari VTT LX 2wd 2.2 of 2 years with no claims and self-driven is 13000/- including service tax of 10.3%. [no voluntary excess discount]

Is this a good deal?

If this is a quote from Icici lombard then even the free insurance will be a bad deal with them otherwise take a detailed quote and post all the bifurcation here.

Your premium should be around 11500 to 12000.

Quote:

Originally Posted by npraneethreddy (Post 1485412)

How do they charge for the transfer of insurance and the time taken for transfer.

Under normal condition they take 7 days to 14 day's on a higher side for transfer of name in the policy. (Some companies do it on same day itself.)
Transfer charges are Rs. 50/- + NCB amount (If any on the old policy.)

Quote:

Originally Posted by rjvora_2000 (Post 1485773)

So, what is the process. The used car buyer, just takes the old document, and endorsed RC book, and sends to insurance company ? Or does the seller need to provide any additional letter/form for transfer of insurance ?

Also, didn't get the part of NCB amount ? You mean, if NCB is there on the insurance, that will be charged from the transferee ? Why not start with no NCB after transfer ?

Thanks,

Hi,
My name is wrongly spelt on the insurance certificate. They have jumbled the my first, middle and last name ! I did not realise until a police man stopped me late night to check my documents. I got the insurance through post and put it in the glove box straight away ( 10 months ago ! )

Bajaj Allianz is the insurer..I will call them tomorrow to check what documents they need for correcting the name...

wanted to check the advise on here..

cheers

Quote:

Originally Posted by lancer_rit (Post 1494484)

one letter will help the transition complete smoothly.
If old insurance policy has some NCB, you need to pay that much amount as that NCB goes with the seller of the car.

Quote:

Originally Posted by vdiatech (Post 1494494)

This is a job of one day and one hour, go to there branch and do it personally, you will need the RC book copy for this thing to be done.

Quote:

Originally Posted by rjvora_2000 (Post 1495371)

one letter will help the transition complete smoothly.
If old insurance policy has some NCB, you need to pay that much amount as that NCB goes with the seller of the car.

Thanks. The NCB needs to be paid to the insurance co, I guess - though I am not clear on how it will benefit the seller (I mean supposing seller does not buy another car, what happens to the NCB ?)