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Old 21st December 2018, 11:01   #4426
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by racingmachine View Post
1. What is the process of renewing after a break in continuity of insurance?
2. Are there any good companies out there which offer good service? Recently I've heard of acko. Any feedbacks on this or similar company?
3. I have completed 3 years of insurance and have claimed ncb Everytime. Will it still be valid?
4. Does it make sense to continue with B2B/zero dep policy add-on after 3 years? Or should I go with comprehensive insurance only?
1. Call up the Insurance co for the renewal. They will send somebody to inspect the car post which your insurance will be renewed based on the mutual agreement.
2. Every co claims to provide good service. Check with the workshop with which Insurance co do they have cashless tie up and the claim settlement process. For Acko check the below thread:

https://www.team-bhp.com/forum/india...y-reviews.html (Acko & Digit, the new insurance firms. Any reviews?)

3. Anyways your NCB will be zero. It will be a normal renewal process
4. If the Insurance co offers you zero dep add on cover in addition to comprehensive insurance, you must take it. Going by your every year cl;aim history it will be very useful.
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Old 21st December 2018, 23:41   #4427
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Hi guys,

I am planning to go for Iffco Tokio this time for my car insurance. Car is purchased in December 2017 and registered, almost a month later, in January 2018. The first insurance policy began from December 2017.

When I was casually looking around their website, I found that it's not possible to select "Registration Month/Year" as January 2018 when "Make Year" is selected as 2017.

Tried reaching out to their customer service for help. The executive said that I can put "Make Year" as 2018 because it is "Registration Month/Year" that is taken to account. But I think this makes the entire policy questionable a 2018 made car can not have its policy expiring on 27th Dec 2018.

Need a third opinion on this before giving Iffco Tokio a pass and going for some other option.

Last edited by self_driven : 21st December 2018 at 23:48.
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Old 22nd December 2018, 12:34   #4428
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Default Re: Automobile Insurance Queries? Ask me

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I am planning to go for Iffco Tokio this time for my car insurance.

Need a third opinion on this before giving Iffco Tokio a pass and going for some other option.
I think you should skip Iffco Tokio, they have been recently fined by IRDA for wrongfully not processing the claim settlement correctly. Its available on IRDA website. Their claim settlement process has been found to have too many issues. You are better off with another Insurance co.
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Old 22nd December 2018, 21:05   #4429
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I am planning to go for Iffco Tokio this time for my car insurance. Car is purchased in December 2017 and registered, almost a month later, in January 2018. The first insurance policy began from December 2017.
.
I just renewed mine with Bharati Axa. I was scouting the portals and someone sent me quotes for Bharati Axa and ICICI. I happened to visit my ASS due to an issue with my TUV and asked them for a quote. They gave me one on par with what I had received and on pushing they reduced it by 1000rs. They gave me Bharati Axa with some additional benefits such as consumables cover etc. They also told me this was manufacturer tie up. So went for it. I was with Royal Sundaram for year one but when I sent them a query and called them up they did not revert. Long story short, your ASS will likely get you a good or better deal usually and no need to be loyal to any company. Better to choose one that is tied to your manufacturer as long as they are competitive IMHO.
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Old 23rd December 2018, 00:23   #4430
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I just renewed mine with Bharati Axa.
Quote:
Originally Posted by ghodlur View Post
I think you should skip Iffco Tokio.
Thanks for the help guys.

Hyundai dealer has offered to renew my existing Bajaj Allianz at Rs. 10,500 with zero dep and some other add-ons. Tata AIG is giving me all sorts of coverage (engine, belongings, travel expenses etc.) in Rs. 10,200 which makes it my default choice if no other options works out.

For now, I am confused whether to go for zero dep or not. The car is really basic and parts are inexpensive (bumper, headlamps, etc.) which makes me feel that I can manage fine without zero dep coverage.

The price difference comee to Rs. 2100.

Here are the quotes I've got -

Tata AIG without zero dep is Rs. 6900
Tata AIG with zero dep is Rs. 9000
Tata AIG with zero dep + engine protection is Rs. 10200

Now I feel that engine protection cover is good-to-have since I have to drive through waterlogged roads a lot during monsoons.

Here, Royal Sundaram has a good policy with engine protector (but not zero dep) at Rs. 7600.

What say guys?

IDV for all quotes is around Rs. 3.35 lakhs.
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Old 23rd December 2018, 00:49   #4431
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Here are the quotes I've got -
Choose the one that is being offered to you by your ASS and cashless. Sounds like all three should have cashless with your ASS, I went with the guy as he gave me a no nonsense and almost bottom price first time and it had some extra cover as well. I did not take engine though.
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Old 24th December 2018, 20:26   #4432
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Default Re: Automobile Insurance Queries? Ask me

Went ahead with ICICI Lombard. They have cashless tie-up with 3 nearby garages and offered a comprehensive cover (with engine protection add-on) for Rs. 7400 for an IDV of Rs. 3.35 lakhs.

Got Rs. 750 off by choosing voluntary deductible of Rs. 2500 and another Rs. 115 off for installed anti-theft device. I have contacted ICICI Lombard once for updating old insurer details in the policy, which they promptly did. Experience has been positive so far.

Royal Sundaram was giving the same plan for Rs. 7600 but I found out that in case of Royal Sundaram, a physical inspection is mandatory to grant engine protection cover to old vehicles.

Last edited by self_driven : 24th December 2018 at 20:29.
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Old 25th December 2018, 13:51   #4433
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Default Re: Automobile Insurance Queries? Ask me

Hi All,

Please help me with the below clarification.

Should the loading discount be applied before NCB or After NCB ?

Regards,

AP.
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Old 27th December 2018, 19:37   #4434
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Default Re: Automobile Insurance Queries? Ask me

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Hi All,

Please help me with the below clarification.

Should the loading discount be applied before NCB or After NCB ?

Regards,

AP.
Any discount offered by Insurance co will be before NCB.
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Old 28th December 2018, 06:35   #4435
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Any discount offered by Insurance co will be before NCB.
Thank you Ghodlur for responding.

Then saving NCB doens't make any sense any more.
Below is the renewal quote we got for Ameo TDi DSG.

OD Premium : 24072
Loading Discount on OD: 48%
OD Premium after discount : 12517
NCB : 25%
OD Premium after NCB : 9388.
So NCB is only 3.1K.

NCB discount is not applied on the below.

TP Premium : 2863
Compulsory PA: 750
Depreciation Cover : 3667
Engine and Gearbox Protect : 1500

When is the loading discount applied ? Will it not be applied in case of a claim ?
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Old 28th December 2018, 09:23   #4436
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Default Re: Automobile Insurance Queries? Ask me

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NCB discount is not applied on the below.
NCB is always applied on OD premium and not on third party or other items. As part of driving very well and not having caused any Own Damage(OD),hence no claims, insurance company gives a discount on OD premium.

Quote:
When is the loading discount applied ? Will it not be applied in case of a claim?
My understanding is loading discount doesn't get applied every year and discount % also varies. Perhaps 'Ghodlur' can explain/confirm this better.
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Old 28th December 2018, 10:07   #4437
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Default Re: Automobile Insurance Queries? Ask me

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Then saving NCB doens't make any sense any more.

When is the loading discount applied ? Will it not be applied in case of a claim ?
Why do you say so? The NCB amount you saved is quite good.

The loading discount is usually given by the Insurance co either to retain existing customer or get new one. This is Insurance co dependant and varies with your bargaining power and the willingness of the Insurance co to provide you one. This is no way involved in Claim processing.

NCB - your eligibility by law
Loading discount - your eligibility by Insurance co.

In case of any claims, NCB becomes zero and the loading discount offered by the Insurance co during renewal also drops coz you will be seen as a high risk customer.
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Old 28th December 2018, 17:12   #4438
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Hi guys,

My car is up for renewal next month and unfortunately I have one claim in the last year. I have a quote from my current insurer (Reliance General) of Rs. 28k + gst for an IDV of Rs. 7,97,715.
I have another quote from HDFC ERGO of 24k + gst for an IDV of Rs. 8,27,300. That's a savings of 5k after gst.

My questions:
1. How has your experience been with HDFC ERGO? I have had a smooth claim experience with Reliance so far. Also, I see that my ASS is listed in the cashless garages for HDFC ERGO.

2. I read in the beginning of the thread that IDV should be reduced by at least 10% from previous year. Can someone explain the reason behind that. I'm not very well versed with how insurance works. My previous IDV year IDV was Rs. 8,73,620, which means that new IDV should be less than Rs. 7,86,258.
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Old 28th December 2018, 18:40   #4439
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by GrandTourer View Post
1. How has your experience been with HDFC ERGO? I have had a smooth claim experience with Reliance so far. Also, I see that my ASS is listed in the cashless garages for HDFC ERGO.

Even I have the same question, if there's a reply to it that would also help me.


Quote:
Originally Posted by GrandTourer View Post
2. I read in the beginning of the thread that IDV should be reduced by at least 10% from previous year. Can someone explain the reason behind that. I'm not very well versed with how insurance works. My previous IDV year IDV was Rs. 8,73,620, which means that new IDV should be less than Rs. 7,86,258.
IDV range is as per Motor insurance Act, based on the fact that the value of a car depreciates over a period of time. However insurers can increase IDV based on request through exception basis.
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Old 28th December 2018, 18:43   #4440
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Originally Posted by Crank View Post
IDV range is as per Motor insurance Act, based on the fact that the value of a car depreciates over a period of time. However insurers can increase IDV based on request through exception basis.
What issues would I face if my IDV is less than 10% depreciated? Or are there any benefits to a higher IDV. I would rather reduce the IDV if there are no real benefits.
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