[ridersam]

My 2013 registered Fludic Verna CRDi 1.6 is up for insurance renewal next month with Tata-aig zero dep insurance.

The renewal quote provided by Tata is around 18K (after some negotiations, they offered a discount against 19.5K original quote)

Now on coverfox and policy bazaar, I see Iffco-tokio offering zero dep at similar IDV (3.9L),

Coverfox - 2K less than Tata
Policy bazaar - 5K more than Tata

1. Is the premium quoted reasonable?
2. Can some enlighten about their experience with Coverfox
3. Also experience with Iffco- Tokio? How is their claims settlement?
4. The recommended IDV on the sites is much lower than the IDV in Tata quote, thoughts on how the IDV should be set?

[amitayu]

Hello All

I have a Ford Freestyle which is due for insurance renewal. I originally had a Bhartia Axa insurance issued by the dealer, but now am getting a lower quote from Tata AIG.

Is it advisable to shift insurer? Does Ford have any special tie-ups with any particular insurer that may give additional benefits? I am more interested in cashless claims as it is hassle-free.

Thanks in advance.

[PAkshay]

Originally Posted by amitayu

Is it advisable to shift insurer? Does Ford have any special tie-ups with any particular insurer that may give additional benefits? I am more interested in cashless claims as it is hassle-free.

No harm in switching Insurer if you are getting a better deal.

Most of the insurance companies have cashless tie-up with local workshops. Check with the ford workshop of your location - they will confirm the name of insurers with which they have cashless facility.

Originally Posted by born.4thnov

The dealer has given me 1 year B2B insurance and 2 years of comprehsive. Is there a way I can pay some additional money now and make it a 3 year B2B insurance?

Better to continue B2B insurance for 1 year. If you don't claim you will get NCB benefit next year at the time of renewal. Additionally your IDV will reduce and this will result in further decrease of own damage (OD) premium.

[born.4thnov]

Originally Posted by PAkshay

No harm in switching Insurer if you are getting a better deal.
===
Additionally your IDV will reduce and this will result in further decrease of own damage (OD) premium.

Thanks for the advise. This has ignited a new thought process in my mind. My cousin is buying a Seltos and I shall also advise him on similar lines. Hopefully we can save some money because of the No claim bonus. Nevertheless, do you have any suggestions on which is a good complany to opt for a new car insurance for Kia? In my case, since Maruti has a tie up insurance, I did not look further.

[PAkshay]

Originally Posted by born.4thnov

My cousin is buying a Seltos and I shall also advise him on similar lines. Hopefully we can save some money because of the No claim bonus. Nevertheless, do you have any suggestions on which is a good complany to opt for a new car insurance for Kia? In my case, since Maruti has a tie up insurance, I did not look further.

Look for the insurance company which has tie up for cashless settlement with KIA motors at your location.

But if your cousin will take the Seltos for frequent intercity / interstate drives then look for the insurer which has national tie up with KIA for cashless settlement.

Buying insurance from dealer / OEM is always costly. You can invite quotations from insurance brokers / agents / online portals for comparison purpose and then decide.

Bargain hard!

[Sukanta73]

Is it mandatory to buy the 3 years insurance and Third party insurance from the showroom for any new car?

If not then how to deal with the showroom?

[sibot]

Hi,
I am from Delhi and I have a question about purchasing insurance for a second hand car.

I am about to purchase a used car and the vehicle is not insured. The policy expired sometime last year (been more than 6 months). The car was not being used by the owner and they did not bother to get it renewed. Stupid I know.

The RTO requires a valid insurance for the transfer of the vehicle, so here is my question -

1. Whether I should get the car insured in previous owner's name and then after the transfer of ownership, get the insurance policy transferred in my name.
OR
2. I read somewhere that insurance companies issue policies based on the Form 29 and Form 30 (submitted at the RTO for transfer of ownership). So if I can get that done in my name before submitting it at the RTO?

Any help would be much appreciated!
Thank you.

[funkykar]

Easiest way out is to renew with existing owners name. Ensure to get a insurance transfer form signed by previous owner. Insurance can be transferred easily later for a small fee. If you buy insurance from providers like Acko, its free to transfer and you can do by simply writing a mail and providing soft copy of transferred document and insurance transfer form also they dont ask.

If you are going through an agent, you can insure in your name only. They are not going to bother you nor check name.

Also, most times from my experience they never tally insured name and RC name. They only check vehicle number and see if its valid.

[sibot]

Originally Posted by funkykar

Easiest way out is to renew with existing owners name. Ensure to get a insurance transfer form signed by previous owner. Insurance can be transferred easily later for a small fee. If you buy insurance from providers like Acko, its free to transfer and you can do by simply writing a mail and providing soft copy of transferred document and insurance transfer form also they dont ask.

If you are going through an agent, you can insure in your name only. They are not going to bother you nor check name.

Also, most times from my experience they never tally insured name and RC name. They only check vehicle number and see if its valid.

Hi,
Thank you for the information. I contacted Go Digit and have received a quote for ~7k for an IDV of 2.65L, subject to inspection. They gave me a discount of about 1,600 and also a complimentary road side assistance program by Europ Assistance.

I think I shall get the insurance in my name on the basis of the Form 29 and 30. It will be easier that way.

Again, thank you for your response. It cleared my doubts.

[samyakmodi]

Hi,

This thread seems to be a treasure for all the insurance related queries and here is mine.

Just out of curiosity I asked my accountant to fish out all the insurance premiums I've paid over 5 years as well as all the insurance claims I have taken in the same time.
I realised I have paid more than 12 lacs as premium in 5 years where as I have only claimed about 78000!!

Which made me wonder - do we really need insurance? Are we paying a bit too much for our peace of mind? In 12 lacs I could've easily bought another nice hatchback or maybe a premium motorcycle. This money paid has gone in the drain and I have nothing to show for it. YES - the NCBs were taken and YES all the work ever done on the cars was always claimed.

How many of us here really have really looked into this part of the cost of ownership?
Should we comprehensively insure our vehicle for the initial 3 years - and then simply continue with 3rd party insurance? Or should we consider doing something else altogether?

Point being - all the modern cars come with an immobiliser - so there are very slim chances of anyone stealing the car. For any accidental repairs, the authorised service centres jack up the estimates and costs if you are insured. If not they are comparatively more reasonable. Ofcourse one can also get the repairs done at a fraction of the cost at any other reliable mechanic. None of the mechanical/electrical failures are covered under insurance. The only real threats being - the cars catching fire OR the cars being washed away in floods OR any other natural disaster.
Point to ponder...

[Thad E Ginathom]

If you always have crores of disposable cash in the bank, you could comfortably drive a Bentley on only legally-required 3rd-party insurance. On the other hand, if you do not often have spare lakhs hanging around to cover a major repair or a new car, you'd better have the comprehensive cover.

I would agree that it is a waste of money to insure against a loss that you can afford. Assuming that you, like me, couldn't afford a whole new car, then you can build this into your insurance by increasing the minimum amount you have to pay, and thus reducing the premium.

[hserus]

Originally Posted by samyakmodi

Point being - all the modern cars come with an immobiliser - so there are very slim chances of anyone stealing the car. For any accidental repairs, the authorised service centres jack up the estimates and costs if you are insured. If not they are comparatively more reasonable.

My last Scorpio was stolen from Chennai in October 2018 and then claimed as a total loss. It was also found a few months back being used by drug dealers in Rajasthan - but that's the insurance company's headache.

You can just go ahead and pay for repairs yourself, then file a reimbursement claim with the insurer. That reduces the amount paid and gives you a chance to save claiming insurance (and blowing away your NCB) because the repair might end up far cheaper than through the pre authorized insurance process.

[JohnyBoy]

Originally Posted by samyakmodi

Hi,
...
I realised I have paid more than 12 lacs as premium in 5 years where as I have only claimed about 78000!!
...
Should we comprehensively insure our vehicle for the initial 3 years - and then simply continue with 3rd party insurance?
...

12 lacs in 5 years means average of 2.4 lacs a year. I am assuming it's for multiple cars. If you have 3 or 4 cars, then it makes sense to take only 3rd party and keep aside the premium saved (2.4 lacs minus 3rd party premium). It should be about 2 lacs and the probability of your cars needing that much money in repairs any year is low.

[Jagann13]

Hello all,

A car rear ended my car few days back. My car is just 5 months old and the tailgate took the hit. It is still functional, but the dent is huge and a quote from ASS of 6500 is given. They said that the whole rear needs to be repainted. While talking to them about the insurance claim, I will have to pay 1500 if taken with a NCB loss. My question:

1. I asked a SA who is close to me and he suggested to change the whole tailgate as the dent was a little intense. I wanted a second opinion on this and when I asked a FNG, they suggested me to get the whole tailgate replaced, as the dent was big and the car being new. So, I'm planning to claim the insurance to get the tailgate replaced rather than repaired. Is this wise considering the NCB loss?

Repair on own or replace using insurance?

2. My insurance reads 1 year own damage + 3 years liability. What does that mean? Can't I claim insurance for a self damage after a year?

Please help me and thanks in advance as well!

PS: I am a noob to this as this is our first car and first experience.

[comfortablynumb]

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