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Old 25th September 2018, 09:32   #4366
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Default Re: Automobile Insurance Queries? Ask me

I had my Tucson's insurance changed from third party to comprehensive with this year's renewal.
I went with digit from policybazaar, and it was quite straightforward even with a policy that had lapsed 10 days prior. They asked for a video inspection to be uploaded by me on the policybazaar app. It cleared in 3 days, and the policy was issued. No headaches of coordinating with a surveyor who would come and study the car.
I have been suffering with a bad windshield for the last year only because of the third party policy that my agent had forced on me saying t is not possible to get comprehensive coverage on a 12 year old car. I checked with windshield experts, and they have a cashless arrangement with digit too, so all well.
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Old 25th September 2018, 11:58   #4367
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My friend got a 2005 Octavia 1.9D. Now when he is looking for insurance options, he is getting quotes of 20-25k with IDV of 3L-5.5L. I feel this is on the higher side and the ideal quote should be around 10K for a 13 year old car and IDV around 3L. Am I missing out anything?
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Old 25th September 2018, 21:48   #4368
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Originally Posted by drmohitg View Post
My Corolla Altis will complete 7 years next week. Till now it had a zero depreciation policy. As per my knowledge zero dep cover was offered only till 7 years. But on Coverfox IFFKO TOKIO seems to be offering zero depreciation cover even now for the 8th year, ofcourse at a higher cost. Is this correct? Will they honour a claim, if at all made under zero depreciation and not throw some excuse citing age of the vehicle? Please advise.
In response to my own query, I have found out that IFFKO-TOKIO now offers 0 depreciation policies till 10 years of age of the vehicle. I thought earlier it was offered only till 7 years at the maximum. Not sure if other companies too are doing so, although it didn't reflect during my search. In the crazy traffic these days, it is really advisable to have 0 depreciation coverage till as long as one can.
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Old 25th September 2018, 21:59   #4369
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ashis89 View Post
My friend got a 2005 Octavia 1.9D. Now when he is looking for insurance options, he is getting quotes of 20-25k with IDV of 3L-5.5L.
Man, that is incredibly high! I hope the car wasn't mistaken for the current gen pre-facelift Octavia! Did he check the online options for quotes? E.g. policybazaar, coverfox etc.

On a different note, my car's due for the insurance renewal for the 5th year. 50% NCB! I've been on United India Insurance's coverage for the last 2 years and as much as I'd prefer it this year as well (cheap, no-frills, nationalised unit), incidents like these are pretty scary!

Last edited by Gannu_1 : 25th September 2018 at 22:05.
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Old 25th September 2018, 22:06   #4370
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In response to my own query, I have found out that IFFKO-TOKIO now offers 0 depreciation policies till 10 years of age of the vehicle.
Yep; I got 0-dep during renewal once our City completed 7 years. Some other vendors give it too. But there's a caveat, you should have had 0-dep in the policy that is about to lapse.
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Old 25th September 2018, 22:17   #4371
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Originally Posted by Gannu_1 View Post
Man, that is incredibly high! I hope the car wasn't mistaken for the current gen pre-facelift Octavia! Did he check the online options for quotes? E.g. policybazaar, coverfox etc.

On a different note, my car's due for the insurance renewal for the 5th year. 50% NCB! I've been on United India Insurance's coverage for the last 2 years and as much as I'd prefer it this year as well (cheap, no-frills, nationalised unit), incidents like these are pretty scary!
Even if it was mistaken for the new gen Octavia, the IDV is still low for such high quotes. I did a quick search on Policy Bazaar and the lowest quote for comprehensive insurance was 13.7k from Digit. I feel itís still pretty high for such an old car. Am I wrong here?
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Old 26th September 2018, 07:50   #4372
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by drmohitg View Post
Will they honour a claim, if at all made under zero depreciation and not throw some excuse citing age of the vehicle? Please advise.
If zero dep add on in mentioned on the Insurance policy then it will be definitely honored. Just as a check, enquire with the Toyota workshop where you service the car if there were any issued with Iffco claim processing for older cars. If none, they you are good to go.

Quote:
Originally Posted by drmohitg View Post
In the crazy traffic these days, it is really advisable to have 0 depreciation coverage till as long as one can.
Unfortunately IRDA has no control over the add on packs offered by the Insurance co. Zero dep add on is additional income to the Insurance co plus if the existing customer has no history of claims in the previous few years of ownership they are regarded as low risk, hence the offer.

Offering zero dep add on for cars more than 5 yrs is actually making the Indian customer disregard about safe driving.
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Old 27th September 2018, 09:53   #4373
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Originally Posted by ank.nsit View Post
The cops clearly mentioned that this is the letter as per Supreme Court directive and is valid all over India.

I am still not sure of the reason for providing me the alternative in the first place? I am attaching this letter and would request the members to help me make sense of it.

The letter states "initiating the proceedings for suspension"? Does this mean that the license will be suspended after the 90 days? But then why would the cops ask me to collect the DL from the police station after 90 days?

Attachment 1801460
The letter you have attached here seems genuine and valid, but from what I could interpret, it states up to 90 days you are allowed to drive with this letter and then, after 90 days, it would be decided whether your DL remains suspended or not. So, you may not be able to drive after these 90 days if your DL suspension is not revoked. I guess they are going to monitor you for any additional offences in these 90 days, and if at all cops haven't matured still, maybe they would release your DL for a bribe after the 90-day period.
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Old 9th October 2018, 03:22   #4374
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Default Automobile Insurance Queries? Ask me

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Originally Posted by ashis89 View Post
Even if it was mistaken for the new gen Octavia, the IDV is still low for such high quotes. I did a quick search on Policy Bazaar and the lowest quote for comprehensive insurance was 13.7k from Digit. I feel it’s still pretty high for such an old car. Am I wrong here?

Yes sir, you are missing out on one crucial factor that your Octavia is a car with cubic capacity of more than 1500 so considering that just the public liability component of your insurance premium would sum up to around 10K ie TP liability, PA cover for owner driver, unnamed passengers and 18% GST.

So what remains of 13.7k quoted by Digit is your own damage premium which is dirt cheap for an IDV of 3L 😊

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Last edited by advaninilesh : 9th October 2018 at 03:25.
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Old 18th October 2018, 02:35   #4375
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Default Re: Insurance Renewal -- query

Greetings! How's Coverfox? Been seeing a lot of their ads.

Saw a similar advert as Coverfox on facebook, forgetting the name of that agent now.

How much should be the premium for Sept 2009 (Registered April 2010) Fiat Grande Punto 1.3 Emotion Pack for an IDV of approximately 2 lakhs (I have 50% NCB)?

I am in Delhi and the car is registered here.

Thanks!
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Old 18th October 2018, 02:40   #4376
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Default Re: Automobile Insurance Queries? Ask me

Greetings! How's Coverfox? Been seeing a lot of their ads.

Saw a similar advert as Coverfox on facebook, forgetting the name of that agent now.

How much should be the premium for Sept 2009 (Registered April 2010) Fiat Grande Punto 1.3 Emotion Pack for an IDV of approximately 2 lakhs (I have 50% NCB)?

I am in Delhi and the car is registered here.

Any pointers to a good agent in South Delhi? Or advice on other online sources like Policy Bazaar, etc. besides Coverfox?

Thanks!

Mods: I have posted this query on three threads, as I am not sure which one is followed. Kindly delete the multiple posts, if inappropriate.
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Old 18th October 2018, 13:12   #4377
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Originally Posted by Prabal View Post
Greetings! How's Coverfox? Been seeing a lot of their ads.
Many on the forum have bought motor insurance from Coverfox. Personally I use the website only for comparison purpose. Based on the options available, go the Insurance co website and buy directly. The prices on coverfox are generally cheaper than the Insurance co websites but before you buy check the T&C on coverfox is same as that on the Insurance co website.

Apart from Coverfox, you could also check out Acko and Digit Insurance co. They are relatively newer and offer some mouth watering premium rates. Take an informed decision.

https://www.acko.com/?buy=null&advisor=null

https://www.godigit.com/motor-insurance/car-insurance
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Old 19th October 2018, 16:42   #4378
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Originally Posted by ghodlur View Post
Many on the forum have bought motor insurance from Coverfox. Personally I use the website only for comparison purpose...
Apart from Coverfox, you could also check out Acko and Digit Insurance co.
Thank you very much for the response; much appreciated! I finally bought my policy renewal from Coverfox. I had to pay Rs. 5937/- (including GST) for an IDV of 207,000/- for my Sept 2009 Punto (registered April 2010), for a comprehensive policy from National Insurance Co (United India Assurance was offering the same deal), while Liberty was giving it at approximately Rs. 600/- less, but for an IDV of 187,000/-

My regular insurance agent had quoted Rs. 7342/- for an IDV of 200,000/- from National Insurance and 7120/- for an IDV of 180,000/- from Bajaj Allianz (including GST in both cases), with similar T&Cs as in the policy from Coverfox. So, it was a no-brainer! However, I didn't get down to checking from Acko and Digit as you advised (since, due to a multitude of pending tasks I'd already renewed the policy earlier in the day before reading your very useful suggestion) - maybe, could've got a sweeter deal from them. Shall keep that for a brighter future now!

TP premium being just a thousand five hundred less than a comprehensive policy for a 1000-1500 cc now (which is quite strange, if you ask me!), made no sense to not continue with a comprehensive policy, although something that otherwise doesn't make much sense spending on a car already eight years old with little resale/residual value. That and the desire to keep my 50% NCB going (for the next replacement vehicle) is what necessitated taking a comprehensive cover! Thank you again, and regards!
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Old 23rd October 2018, 22:53   #4379
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Default Re: Automobile Insurance Queries? Ask me

Hey Hey guys,

Iím currently negotiating a deal on the Audi A3 Diesel and trying to get a better offer on insurance as well.

When I spoke to the SE over the phone and asked for the insurance cost, he said it would be around 1-1.25 Lakh!

When I told him that I was getting better offers on CoverFox or other online sites and I would opt out of Audi insurance as their rates are high, he simply said I can't do that!

His excuse being that Audi and Reliance have some sort of partnership and that audi bears 50% of the cost and that if I don't want to take insurance from them, I have to pay 50k penalty!!

I found this claim quite obnoxious and thought I'd take all of your opinion.

Thanks in advance!!

Regards
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Old 24th October 2018, 08:06   #4380
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His excuse being that Audi and Reliance have some sort of partnership and that audi bears 50% of the cost and that if I don't want to take insurance from them, I have to pay 50k penalty!!
The SA is simply arm twisting you. There is nothing which stops you from taking the Insurance from outside if it is cheaper and beneficial to you. Show him the quote you received from Coverfox and ask them to match the premium. If they do you can buy Insurance from the dealer itself. If they still refuse to allow you buying Insurance from outside, ask them to give it writing regarding the tie up and the penalty clause and that you would raise it with IRDA.

Check out this thread for reference.
https://www.team-bhp.com/forum/india...ml#post4261502 (IRDA issues guidelines for car dealers selling insurance)

Take a print of PDF document attached to the post, show the dealer point no 11 of the pdf document.

If they still dont budge, check out with other Audi dealers (if any) in the city.

Last edited by ghodlur : 24th October 2018 at 08:07.
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