[nisshith]

Originally Posted by tp_dominator

Can you share your policy copy? Usually dealers provide one year own damage and three years third party insurance unless you opt for 3 years package policy.

Also, please share what was the insurance amount you paid while purchasing your car and make and model of your vehicle.

Car: Venue SX+ DCT
IDV: 1054976
Total Insurance Amount: 56642

Adding some screenshots of Insurance.

[tp_dominator]

Originally Posted by nisshith

Car: Venue SX+ DCT
IDV: 1054976
Total Insurance Amount: 56642

Adding some screenshots of Insurance.

The actual screenshot required is of the top portion. PMed you for the same. I am pretty sure you might be having the 1+3 policy only.

[GauravTaneja]

Originally Posted by endlesspoetry

Find who is officially responsible for grievance redressal for Go-Digit,mark your email to customer support detailing your disputes and also copying the Grievance redressal officer or whoever is responsible for that.Be point blank on why your claim is right and why the surveyor was wrong.Read your policy specifics thoroughly,understand it and indicate the references supporting your claim.If all this has already been done with evidence and with no satisfactory resolution for the same within 15 days,you can reach out to the grievance redressal cell of IRDA. Just going to all these places will also not find you results,you have to keep creating evidences and know what your insurance cover means,the most important weapon here is knowledge and patience.50% of times you could win it easily if your claim is right,the other 50% of times it could be a nightmare and a hard fight even if you are right.

Thanks for the response. I did manage to find somebody to escalate the matter to, and it's finally resolved. Left a bit of bad taste though.

Originally Posted by AnkitAnimesh

I too faced issues with GoDigit, my Maruti Insurance was with Godigit. Unfortunately, my car met a small accident because of a big pothole. Firstly the surveyor said pothole damages are not covered by insurance, but still I am approving the claim. It took the surveyor 8 days and 4 visits just to approve a total of 4 parts to be repaired/replaced. Also during the 4th survey I myself was present at the service center where the surveyor didn't come himself, instead someone else appeared to survey the vehicle who, upon asking identified himself as surveyor appointed by IRDA, to which me and service advisor had a good laugh. Later, after an earful he admitted that he is just a friend of surveyor, no where related to GoDigit. I have lodged a formal complaint, but it's been 5 days and I am yet to hear anything.

Don't think I will be repeating GoDigit as my insurer going forward. The attitude displayed during the claim process is extremely poor - and not very confidence inspiring.

[ruzbehxyz]

Originally Posted by tp_dominator

Few companies offer zero depreciation policies upto 10 years of vehicle age also. However, it is upto you whether you opt for it or not.

Thanks for sharing. I always thought and read online that zero dep. policy is possible only upto first 3 years of the vehicle. Anyway thanks for clearing the air.

[ask99]

I am close to finalising a new car purchase, and have informed the dealer that I'll be buying the insurance independantly.

On that note, I am curious how a lower IDV will affect the claim process if I opt for the Return to Invoice add-on?

Is it advisable to have a lowered IDV (hence a lower premium) + the Return to Invoice addon? Or simpler to go with higher IDV?

Also, am going for a ZeroDep as it has served me well so far. Any other usefull add-ons?

Final question for experts, is the compulsary deductible mentioned anywhere during the policy buying process?

[AYP]

Hello Guys,

In a bit of conundrum. I have a Figo registered in early September 2017 and is up for insurance renewal. The ex-showroom price of the same was 6.8L(without discount) and for a car 3 years of age, I pegged the IDV at 4.2L, maintaining a fine balance between over-insuring and optimism.

However, when I visit the popular online websites, I can see that the IDV of the vehicle gets more or less fixed at a higher value and I am unable to lower it. After thinking about it, the only logical reason I was able to decipher for such an anomaly is that the websites are putting my car in the 2-3 year old age bracket(which is technically true) but since the policy would be for the 4th year of my car, having a higher IDV will not be of any use.

Just to verify my hunch, I visited the site(policybazaar) again but this time declaring that my policy has expired and I was able to set the IDV at 4.2L and as a result, the impact to the wallet is lesser.

So my question is-

Is this a 'normal' problem everyone faces where the indicated IDV is higher than the desired/practical IDV? If no, please guide and if yes, any solutions to this problem?

There is the option insuring the car after the expiry period, but that is not something which I or anyone would like to do and even if done will only be a one time fix and the cycle will repeat next year.

[self_driven]

Originally Posted by AYP

Is this a 'normal' problem everyone faces where the indicated IDV is higher than the desired/practical IDV?

Just checked Policybazaar as my car's renewal is due later this month. There is an option to select "Car IDV" next to "Eligible NCB" dropdown. From there you can choose your own IDV within a specific range. For my car, it shows the same IDV range (1.86 to 4.33 lakhs) regardless of policy expiry status.

A few insurer websites have fixed IDV (which is generally on lower side for a more attractive quote) with no option to set desired value. You'll have to get in touch with their customer support team and request a quote with your desired IDV.

[nisshith]

Originally Posted by tp_dominator

The actual screenshot required is of the top portion. PMed you for the same. I am pretty sure you might be having the 1+3 policy only.

I re-checked with the insurance agent about the coverage he assured me that it was 3 years. Since I got the insurance done before the vehicle registration the registration number was not present in the insurance letter. As soon as I got that updated, and the vahaan portal details were also updated. Now it is showing the correct date.
That was the issue.

[tp_dominator]

Originally Posted by nisshith

Here is the screenshot of the first page, I re-checked with the insurance agent, he confirmed that the policy is of 3 years.

Looks like the policy is indeed of 3 years. Since they have not mentioned any bifurcation of Own Damage, PA cover and Third Party cover periods, I would suggest you to contact Bajaj Allianz directly and seek clarification from them just to be doubly sure. Hope this helps!

[nisshith]

Originally Posted by tp_dominator

Looks like the policy is indeed of 3 years. Since they have not mentioned any bifurcation of Own Damage, PA cover and Third Party cover periods, I would suggest you to contact Bajaj Allianz directly and seek clarification from them just to be doubly sure. Hope this helps!

You replied too soon
I edited my original post, the issue was with the registration number.

[vijai]

One of my bike's own damage insurance is expiring this December while 3rd party is valid for another 4 years (it's all due to the confusing irdai regulations). My current insurer is Chola MS and the insurance was forced down the throat my the dealer for pretty hefty amount. I agreed though because I managed to compensate it later on in the ex-showroom price.

Anyway, I'm interested in a comprehensive insurance and not just 3rd party. What are my options now considering the new rule by irdai for bikes (3 years mandatory?) and my wish to move to acko.

P.S: unrelated but how good is Acko's cashless claims for bikes if anyone has claimed?

[bpnpmr]

Hello all,
I have questions related to bike insurance, purchased in 2019. As per the new rules the third party liability (TPL), is for 5 years. The personal accident (PA) and own damage (OD) cover has expired this month (~2 weeks). The insurance cover was provided by showroom at purchase and it is from ICICI Lombardi.

My questions are:
1. The TPL is still valid, however OD and PA cover has expired - does this mean I can still do a renewal or I need to get a new insurance?

2. Can I apply for OD and PA cover from an insurance company other than ICICI Lombardi? The reason being the IDV from ICICI is less 25% less than previous IDV. Other companies are quoting higher IDV (online).

3. If I purchase the OD and PA cover from another insurance company (other than ICICI) , and in future if I need to make a claim (god forbid) - how much hassle will it be to approach two insurance companies (as TP is from ICICI) separately?

4. The bike was purchased on loan, this has been cleared now:
a. It is more than a year since purchase, does the past loan has bearing on taking NCB now?
b. The previous insurance paper shows that the vehicle is under hypothetication (loan). I have got loan clearance paper from the company. In websites, is there anyway I can update this - so that the new papers do not show the vehicle is under loan. I did not find option regarding this on websites (policybazar / ICICI / coverfox)

[JohnyBoy]

Originally Posted by bpnpmr

1. The TPL is still valid, however OD and PA cover has expired - does this mean I can still do a renewal or I need to get a new insurance?

You can. But as it is expired, the insurance company may ask for an inspection.

Originally Posted by bpnpmr

2. Can I apply for OD and PA cover from an insurance company other than ICICI Lombardi? The reason being the IDV from ICICI is less 25% less than previous IDV. Other companies are quoting higher IDV (online).

Yes, you can purchase from any insurance company.

Originally Posted by bpnpmr

3. If I purchase the OD and PA cover from another insurance company (other than ICICI) , and in future if I need to make a claim (god forbid) - how much hassle will it be to approach two insurance companies (as TP is from ICICI) separately?

You won't be claiming both TP and own coverage at the same time. TP coverage is to take care of any damage by you on some one else's car/life/property. In a 'normal' accident where you claim for your car, only own coverage comes into picture.

Originally Posted by bpnpmr

a. It is more than a year since purchase, does the past loan has bearing on taking NCB now?

Loan has nothing to do with NCB or insurance premium.

Originally Posted by bpnpmr

b. The previous insurance paper shows that the vehicle is under hypothetication (loan). I have got loan clearance paper from the company. In websites, is there anyway I can update this - so that the new papers do not show the vehicle is under loan. I did not find option regarding this on websites (policybazar / ICICI / coverfox)

You have to send the loan clearance note to RTO and update the RC book. Usually the clearance note has a validity of 3 months, it is better to go to the RTO before the expiry of the note.

[bpnpmr]

Originally Posted by JohnyBoy

You can. But as it is expired, the insurance company may ask for an inspection.

You have to send the loan clearance note to RTO and update the RC book. Usually the clearance note has a validity of 3 months, it is better to go to the RTO before the expiry of the note.

Thanks for the prompt reply.
When I checked online, there is no need for inspection. Probably due to the time since expiry of own damage and PA being less than 90 days.

I was not aware of submission of the clearance note to RTO, thanks a lot for that input.

[JohnyBoy]

Originally Posted by bpnpmr

When I checked online, there is no need for inspection. Probably due to the time since expiry of own damage and PA being less than 90 days.

If you can renew without inspection, that's great.

Originally Posted by bpnpmr

I was not aware of submission of the clearance note to RTO, thanks a lot for that input.

The bank gives 2 copies of the clearance note. One for the RTO (to update the RC book) and one for the insurance company (to update the insurance docs). I missed this one in my previous reply. Contact both RTO and insurance company and get the docs updated.

All the best!