![]() | #4336 | |
BHPian Join Date: Sep 2011 Location: Bangalore
Posts: 216
Thanked: 409 Times
| ![]() Quote:
| |
![]() | ![]() |
|
![]() | #4337 |
Distinguished - BHPian ![]() ![]() Join Date: Jun 2007 Location: Chennai
Posts: 10,282
Thanked: 21,068 Times
| ![]()
I think that you are wrong. Your warranty will not cover you for any sort of accidental, or, eg water, damage to your engine. Check what is covered by a particular company's "engine protection cover," consider the risk, and buy of appropriate. |
![]() | ![]() |
![]() | #4338 | |
Senior - BHPian ![]() Join Date: Sep 2015 Location: Manipal / Udupi
Posts: 1,603
Thanked: 4,761 Times
| ![]() Quote:
| |
![]() | ![]() |
![]() | #4339 | |
BHPian Join Date: Sep 2011 Location: Bangalore
Posts: 216
Thanked: 409 Times
| ![]() Quote:
![]() One noob question - does it make sense to go with the lowest possible IDV if we are opting for the Invoice Price? Or does it make more sense to keep the IDV at 10% lower than the previous IDV and not opt for the Invoice Price? Last edited by Oxy : 13th September 2018 at 12:38. | |
![]() | ![]() |
![]() | #4340 | |
Senior - BHPian ![]() Join Date: Sep 2015 Location: Manipal / Udupi
Posts: 1,603
Thanked: 4,761 Times
| ![]() Quote:
Further, as the years add up you have pay lesser on lower IDVs, but you still get the full 10 lakh on claim (for up to 5 years). | |
![]() |
![]() | #4341 | |
Senior - BHPian | ![]() Quote:
After five years when RTI is not applicable anymore, you can chose a higher IDV by switching to another insurer online. | |
![]() |
![]() | #4342 |
BHPian Join Date: Oct 2015 Location: Pune/Ahmedabad
Posts: 360
Thanked: 470 Times
| ![]()
You can opt for Invoice price add-on only for first 5 years of the car. If you go with lower IDV, it can affect you after 5 years (as IDVs will continue to decrease over previous policy's IDV) |
![]() |
![]() | #4343 |
Distinguished - BHPian ![]() ![]() Join Date: Jun 2007 Location: Chennai
Posts: 10,282
Thanked: 21,068 Times
| ![]() 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. |
![]() |
![]() | #4344 |
BHPian ![]() Join Date: Jun 2008 Location: South Pole,Mars
Posts: 825
Thanked: 849 Times
| ![]() 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 ? |
![]() |
![]() | #4345 |
Senior - BHPian ![]() | ![]()
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. |
![]() |
![]() | #4346 | |
BHPian ![]() Join Date: Jun 2008 Location: South Pole,Mars
Posts: 825
Thanked: 849 Times
| ![]() Quote:
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 | |
![]() |
|
![]() | #4347 | |
BHPian ![]() Join Date: Feb 2018 Location: Delhi
Posts: 874
Thanked: 2,118 Times
| ![]() Quote:
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. | |
![]() | ![]() |
![]() | #4348 | |
Senior - BHPian ![]() | ![]() Quote:
As said by self_driven, use the comparator websites only for comparison purpose, buy Insurance from the Insurance co website directly. | |
![]() |
![]() | #4349 | ||
BHPian ![]() Join Date: Jun 2008 Location: South Pole,Mars
Posts: 825
Thanked: 849 Times
| ![]() Quote:
Quote:
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 ? | ||
![]() |
![]() | #4350 | |
BHPian ![]() Join Date: Aug 2014 Location: Bombay
Posts: 26
Thanked: 61 Times
| ![]() Quote:
Yes sir, IDV ideally should be ex-showroom value less 5% at the time of purchase and less 10% every subsequent year. | |
![]() |
![]() |