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Old 11th June 2020, 17:31   #4546
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Default Re: Automobile Insurance Queries? Ask me

I received these two insurance quotes for my 2012 Ford Figo.

Automobile Insurance Queries? Ask me-screenshot_20200611172155.png

Automobile Insurance Queries? Ask me-screenshot_20200611172020.png

Sundaram is offering a depreciation cover and the car is in its 8th year. However their IDV is lesser.

Tata is not offering a depreciation cover but is offering in the range of 40-60% of depreciation reimbursement on things like glass,metal,fiber etc.

I think TATAs claim ratio is also better than Royal Sundaram.

But I don't see an NCB discount in the TATA policy. They did however say that they are giving me some kind of a discount for this policy renewal (really? )

What am i missing, if anything? Whats the general consensus in insurance renewals of older, sub 3lakh cars?
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Old 15th June 2020, 19:07   #4547
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Hi Guys,

I bought a Wagon R AMT for my dad in March. The car was on loan and when I closed the deal the RC was already in the RTO for HP termination. I validated this on the Vahan Portal and I also got the RTO receipt from the dealer. The dealer helped me renew the insurance too and suggested that I get the new insurance under my name since if I renew under previous owners name the car will have to be surveyed again. Also I was supposed to get the new RC in few days under my name. So I got the insurance under my name. Now because of the lockdown the whole process has slowed down and donít know when will I get the new RC. So my question is what happens if I drive the car and it gets damaged. Can I get insurance claims if no what is my way out. The car has been idle for four months now and my dad has to manage without a car. Also I am yet to get the second key of the car. I was supposed to get it but there has not been any update from the dealer. The insurance I have got covers locks and key replacement once and I was planning to replace them once I get the new RC. But what do I do now for the second key. Will an FIR stating I have lost the key take care of future insurance claims for now ?
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Old 16th June 2020, 07:56   #4548
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by nik0502 View Post
Also I was supposed to get the new RC in few days under my name. So I got the insurance under my name. Now because of the lockdown the whole process has slowed down and donít know when will I get the new RC. So my question is what happens if I drive the car and it gets damaged. Can I get insurance claims if no what is my way out. The car has been idle for four months now and my dad has to manage without a car. Also I am yet to get the second key of the car. I was supposed to get it but there has not been any update from the dealer. The insurance I have got covers locks and key replacement once and I was planning to replace them once I get the new RC. But what do I do now for the second key. Will an FIR stating I have lost the key take care of future insurance claims for now ?
Since the Insurance is already on your name, any claims will be honored by the Insurance co. I hope the ownership transfer documents must have been submitted to the Insurance co or even the RTO receipt of the transfer would suffice. If the car is in your father's name, he should be able to drive it.

Regarding the second key, write a letter to the dealer saying the liability of the car will be on him in the absence of second key with you. You should be able to change the key of the car even now but will need to convince the Insurance co for the claims.
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Old 17th June 2020, 23:13   #4549
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Hi everyone!

I need to claim insurance due to a minor pothole damage.

So, here is the story: I reside in Chandigarh and hit a pothole last week. I went to the ASC and asked for the claim, they told me it will take a week for the alloy wheel to be shipped. It just arrived and they have called me tomorrow to initiate claim.

My question is: The car is registered to my father and he resides in a different state right now. It would be very difficult to get the claim form couriered to him for signature and get it back soon. I have all the documents they need and I offered that I send the claim form via fax/email and my dad signs it using Adobe Acrobat signature scan and sends it back, after all a signature is just a consent to process a claim. To this, the ASC advisor was not sure whether it would be OK. Does anybody have more info on this? Is the physical signature really required? Would the insurance company even care if the signature is printed or pen-drawn, as long as it is of the claimant?

What is the deal with the e-signature? (I have a copy of everything else - like Aadhaar, PAN, etc.)
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Old 18th June 2020, 01:15   #4550
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A Fax is usually an acceptable document. See if they can agree to a faxed copy of the claim form. Your father can print the form sign it and get it faxed.
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Old 18th June 2020, 01:21   #4551
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I'm using National Insurance. How can I download my policy copy online? Is there any way to get it without going to their office? I have misplaced my original insurance papers.
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Old 19th June 2020, 13:11   #4552
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I just claimed insurance for a slightly bent alloy, the advisor discovered that the rear axle has a minor bend as well!

Is this possible or are they trying to play with the insurance company/me? Does anyone have experience with this? Do ASCs try to milk the insurance or is this genuine?
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Old 19th June 2020, 17:24   #4553
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Quote:
Originally Posted by typlo View Post
I just claimed insurance for a slightly bent alloy, the advisor discovered that the rear axle has a minor bend as well!

Is this possible ... ... ...?
Have you asked them to demonstrate the bend?
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Old 20th June 2020, 12:42   #4554
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Have you asked them to demonstrate the bend?
Yes, they showed me that the right rear wheel was spinning erratically. Although I have never noticed an issue while actually driving.
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Old 24th June 2020, 02:41   #4555
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The insurance of my 2016 Zdi plus Brezza will expire on June 26. At present I have a Maruti-ICICI Lombard zero dep insurance. The renewal amount quoted to me is around Rs. 15000 for zero dep and around Rs 9000 for a comprehensive insurance cover but WITHOUT zero dep.
I am not too keen on going for zero dep as the car is entering its 5th year, the extended warranty is over and my monthly running is less than 500 kms.

So, am I thinking in the right direction? Is a comprehensive NON zero-dep insurance okay? As against Maruti's quote of Rs. 9000, Magma HDI has quoted around Rs. 5800 and Future Generali -- Rs. 6000 (The IDV is more in case of Magma and Future Generali somewhere around Rs. 6 lakh while Maruti's IDV is Rs.4.77 lakh)

Please suggest what should I do?
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Old 24th June 2020, 09:21   #4556
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Originally Posted by captain.torque View Post
Is a comprehensive NON zero-dep insurance okay?
I'd always recommend a zero dep policy for cars of this class. For simpler cars such as Alto and Eon one can take a chance but on feature loaded cars such as Brezza, there are too many parts (claddings, projectors, etc.) that will inflate repair bills in case of a crash (God forbid). A 5 year old car is not too old to be honest. Insurers such as Iffco Tokio provide coverage for upto 10 years now.

Quote:
Future Generali somewhere around Rs. 6 lakh while Maruti's IDV is Rs.4.77 lakh
I think that's enough reason to shift from your current insurer to some other. Take quotes directly from more insurers (Bajaj Allianz, Tata AIG, HDFC, RS and Bharti Axa) and decide.
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Old 25th June 2020, 17:34   #4557
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Default Re: Automobile Insurance Queries? Ask me

One Doubt:

If I accidentally scrape the bumper of the car in the front, how can I use my 3rd party insurance to pay for the damages to the affected party?

What is the process involved? Should I file a FIR or is it between two insurance companies?

Last edited by Sheel : 25th June 2020 at 19:17. Reason: Minor typo.
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Old 25th June 2020, 18:58   #4558
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If I accidentally scrapes the bumper of the car in the front, how can I use my 3rd party insurance to pay for the damages to the affected party?
An accidental scrape to a bumper, theirs or yours, may not be worth loosing your no-claims bonus for. Ideally, you would come to an amicable arrangement with the other guy to cover the repair cost.

Remember, an NCB is lost not just for one year, but for all the years it takes to build it up again.
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Old 25th June 2020, 19:01   #4559
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Quote:
Originally Posted by Thad E Ginathom View Post
An accidental scrape to a bumper, theirs or yours, may not be worth loosing your no-claims bonus for. Ideally, you would come to an amicable arrangement with the other guy to cover the repair cost.

Remember, an NCB is lost not just for one year, but for all the years it takes to build it up again.
Thanks. I can understand it, I just want to know the process because in India people starts threatening for money in public roads :-(
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Old 28th June 2020, 20:20   #4560
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This is a query regarding my 3 series which is registered in my father's name who unfortunately passed away an year back. I had no clue about the rule that insurance is valid only for 90 days upto owner's death and recently came to know about this. Was out of India for a long while and could not complete formalities like surviving certificate etc which i have done now. Had a word with my insurance agent regarding this and i have a couple of doubts now, the registration has not yet been transferred to my name.

1. He has advised me to immediately inform the insurance company giving relevant proof of death and the insurance would be transferred to my name. I told him that RC transfer would take some time as i am not residing in the same state now, could take 15-20 days so in the meanwhile, what would happen in case a claim comes up with insurance in one name and car in other. He said, it would not be an issue as i have the death certificate and legal heir certificate as well.

2. I thought that i need to first get the registration changed to my name and then only i can get the insurance transfer done but the agent said, the insurance company needs to be informed first.

3. If i get the insurance transfer done now and in those 20-25 days it takes for the registration transfer to be done, what if the car is involved in an accident? Would the insurance co process the claim as the original RC would be with RTO and the car still in my father's name?
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