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Old 20th February 2020, 21:31   #4471
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Hi Folks,

I have a question about my Scorpio's upcoming insurance renewal. Although the vehicle is in my wife's name, I am the one who always drives the car. So, when I asked for and received a quote from Digit Insurance, the sales advisor suggested skipping the PA cover for the owner driver, as my wife can't drive. I can understand skipping the paid driver cover, but is skipping PA cover for owner driver advisable? Or am I better off opting for it?

Cheers,
Vikram
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Old 20th February 2020, 22:47   #4472
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Originally Posted by comfortablynumb View Post
Hi Folks,

I have a question about my Scorpio's upcoming insurance renewal. Although the vehicle is in my wife's name, I am the one who always drives the car. So, when I asked for and received a quote from Digit Insurance, the sales advisor suggested skipping the PA cover for the owner driver, as my wife can't drive. I can understand skipping the paid driver cover, but is skipping PA cover for owner driver advisable? Or am I better off opting for it?

Cheers,
Vikram
You are not going to get any clear answer. Even if everyone here says 'no need', insurance authorities or your insurance company may/can create unnecessary loops during a claim.
Do you want these trouble just to save 600-700 rupees?
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Old 22nd February 2020, 09:25   #4473
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Originally Posted by Jagann13 View Post
1. Is this wise considering the NCB loss?
What is the current NCB?
What kind of policy do you have? I'm guessing it's a bumper-to-bumper as you mentioned 1500. If that's true, your repair cost would be 1500 + cost of consumables =~ 2000. Without insurance, you'd be paying 6500 + cost of consumables + labour cost. I guess that should be somewhere around 8000. Compare this with the NCB you would get for next year if you do not make the claim and pick the one that's more cost effective. Also remember that NCB has a cascading effect every year. So, it's not just next years' NCB that matters.

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Originally Posted by Jagann13 View Post
2. My insurance reads 1 year own damage + 3 years liability.
1st Party (comprehensive or B2B) is covered for 1 year and 3rd party for 3 years.
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Old 22nd February 2020, 09:48   #4474
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Or am I better off opting for it?
If your wife doesn't drive, you can skip the PA cover but I'd say make sure that the person who drives has a PA cover from any other source to be on the safer side. For this, you may have to purchase a separate PA cover as the one that comes bundled along with the insurance policy will be in your wife's name.

I have also skipped it in my current policy as the (on paper) car owner doesn't have a driving licence and the person who drives has a PA cover from insurance policy of the second car in the house.

PA cover is not mandatory in these cases:

Quote:
1. If the owner of the vehicle doesn't hold an effective / valid driving license.

2. If the vehicle is owned by a company , partnership firm , corporate body and / or any organization - in short where the vehicle is not owned by a person holding valid driving license.

3. Where a person owns more than one vehicle , compulsory PA cover can be granted for only one vehicle as opted by him / her. So for the second vehicle's insurance PA cover premium will not be applicable.
In my case, both points 1 and 3 were applicable.

Last edited by self_driven : 22nd February 2020 at 09:49.
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Old 22nd February 2020, 12:36   #4475
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Originally Posted by JohnyBoy View Post
You are not going to get any clear answer. Even if everyone here says 'no need', insurance authorities or your insurance company may/can create unnecessary loops during a claim.
Do you want these trouble just to save 600-700 rupees?
Quote:
Originally Posted by self_driven View Post
If your wife doesn't drive, you can skip the PA cover but I'd say make sure that the person who drives has a PA cover from any other source to be on the safer side. For this, you may have to purchase a separate PA cover as the one that comes bundled along with the insurance policy will be in your wife's name..
Thank you both for your replies. Eventually I skipped the paid driver cover, but opted for the PA owner driver cover, as you never know when she might take it into her head to start driving. Total premium was Rs.11,243 for an IDV of Rs.2.60 lakhs.
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Old 22nd February 2020, 13:39   #4476
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Originally Posted by Vysakh View Post
What is the current NCB?
What kind of policy do you have?
Thanks for helping me out with this. This is the first year. So my NCB will be close to Rs.2300 which is 20%.

Another doubt following what you said, will the NCB be taken into account if I'm upgrading the remaining 2 years to B2B from third party?

Mine is 1 year B2B and 3 years third party as you said!

I really appreciate it!
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Old 22nd February 2020, 14:13   #4477
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will the NCB be taken into account if I'm upgrading the remaining 2 years to B2B from third party?
NCB is not applicable on the third party liability. You'll get NCB on the first party component though, when you upgrade, if you haven't made any claims.
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Old 26th February 2020, 11:44   #4478
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My wife owns a 2003 Maruti 800 and the RC and insurance policy are in her maiden name. We intend to sell this vehicle and transfer the 50% NCB to a new vehicle that we plan to buy.

Accordingly, we approached Tata AIG,the insurer, with a request to change the name in the insurance policy to her name after marriage. We received a email informing us that the change can be done only after the name in the RC has been updated.

We visited the local RTA earlier this week and met with the RTO. Whilst he was agreeable, in principle to do the needful, the junior officials explained that there is no provision for altering the name.

According the the provisions regarding NCB, the benefit accrues to the insured, per se, and not the vehicle. To illustrate, if we sell the car the new owner will not receive the NCB and will have to pay additional premium if he wants OD cover.

Under the circumstances, can Tata AIG refuse to transfer the accrued NCB to a new vehicle that will necessarily have to be purchased in my wife's name after marriage, since all her records including D/L, PAN and Aadhaar are in this name?
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Old 26th February 2020, 11:48   #4479
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Accordingly, we approached Tata AIG,the insurer, with a request to change the name in the insurance policy to her name after marriage. We received a email informing us that the change can be done only after the name in the RC has been updated.
If you have any document eg a passport in her maiden name that has her married name endorsed on it, you can take that to Tata and show them.

Or take it to a new insurer along with an ncb letter from Tata and they'll mostly be more cooperative.
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Old 26th February 2020, 12:00   #4480
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If you have any document eg a passport in her maiden name that has her married name endorsed on it, you can take that to Tata and show them.

Or take it to a new insurer along with an ncb letter from Tata and they'll mostly be more cooperative.
Only document available is the marriage certificate. I guess along with other documents that should suffice, since it was used to change the name in the D/L and PAN. Will visit the Tata AIG local office.
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Old 27th February 2020, 20:44   #4481
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Team,

I need help to on the renewal of my pre owned Tata Hexa XTA 2017 model. The Insurance is still on previous owner name as the vehicle ownership got transferred in Dec 2019. The insurance is due in March 2020.

1. I am told that NCB from existing Insurance can't be transferred. Is is correct?
2. Secondly, I am being quoted more than 35 K for the IDV of 11.5 lacs, which I feel is very high. Please advise.

Should I get the name change done of existing Insurance from Tata AIG ( don't know why it is from Royal Sundaram) to my name and then ask for a quote ?
Or Shall I look for a fresh insurance ? To add here, there is no claim on the existing insurance by previous owner.

Further what could be best quote for a zero dep insurance for an IDV of 11/12 lakhs?

Any other advice is also welcomed.

Thanks

Manish

Last edited by Akshay1234 : 28th February 2020 at 11:49. Reason: typo
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Old 27th February 2020, 22:45   #4482
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Originally Posted by MaNishi View Post

1. I am told that NCB from existing Insurance can't be transferred. Is is correct?
2. Secondly, I am being quoted more than 35 K for the IDV of 11.5 lacs, which I feel is very high.
#1 is correct.
#2. Note 3rd party (mandatory) insurance premium has increased quite a lot. Since you won't get any any NCB discount on IDV and add to that 18% GST. Amount looks about right to me. However no harm calling up and negotiating down for own damage part.

-BJ
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Old 28th February 2020, 08:31   #4483
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Originally Posted by MaNishi View Post
2. Secondly, I am being quoted more than 35 K for the IDV of 11.5 lacs, which I feel is very high. Please advise.
Yesterday, I got my Fortuner (2013) Insurance renewed at 11.2 Lakhs IDV for comprehensive policy + few additional covers like Additional Towing and no named passengers cover of 1 Lakh. I got the policy at 22,213 INR at Royal Sundaram. (Current Policy is expiring in March)

However, during my search for best quote provider, Tata AIG and Reliance, I got a quote of around 34 K, which I felt was too high. Suggest you try in Royal Sundaram once before closing on Tata AIG. From the reviews in this thread, I heard, even Royal Sundaram is a good company while processing the claims.

PS: I directly purchased the policy at http://royalsundaram.in. Did not go through Coverfox or policybazaar

Last edited by gkveda : 28th February 2020 at 08:35.
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Old 28th February 2020, 11:20   #4484
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Originally Posted by gkveda View Post
Yesterday, I got my Fortuner (2013) Insurance renewed at 11.2 Lakhs IDV for comprehensive policy + few additional covers like Additional Towing and no named passengers cover of 1 Lakh. I got the policy at 22,213 INR at Royal Sundaram. (Current Policy is expiring in March)
I suppose your insurance quote is for comprehensive policy and the OP is looking for Zero Dep policy. Please correct me, if I am wrong. Zero Dep for 11 lakhs is normally above 30k, as per my experience.
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Old 28th February 2020, 18:48   #4485
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Hello
My car is 8 years old Swift VDi 2012 Model and planning to sell next year. Currently I have Acko insurance, purchased last year with IDV 287500. This year Acko is only offering 205000 as maximum available IDV. Obviously that is much lower than IDV I was planning to take this year. So now evaluating the below offers:

1. Godigit: IDV 2.46L Premium 6.2K (Max IDV offered)
2. HDFC Ergo/Royal Sundaram/Iffco Tokio: IDV 2.72L Premium 7K (Option to further increase IDV)

I have read here that IDV should be reasonably reduced 10% every year. But I am inclined to keep the IDV near last year IDV, even same at 2.87L, as I am planning to sell car next year, so substantially lower IDV has some psychological impact on the buyer, or he may use it to negotiate hard.

Kindly give suggestions, as to what should be the ideal IDV and then which insurer to go with?

TIA

Last edited by ontheway : 28th February 2020 at 19:01. Reason: More information and clarification
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