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Old 15th March 2021, 14:33   #4996
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Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
Do you have any existing PA cover either through office or personal buy? If yes, then that would suffice during insurance purchase of RE. If not then would suggest to buy one separately rather than opting for a bundled package.
Thank you - indeed I am covered through office Group PA cover.
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Old 22nd March 2021, 17:41   #4997
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by ninjatalli View Post
Thank you - indeed I am covered through office Group PA cover.
I intend to opt out of personal PA cover as I am also covered through my office as well. However am intending to add "Passenger cover" as it is very rarely I drive alone on our longer trips. I don't see that being discussed much so was wondering it is not what it seems.

This will be for car insurance though.

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Last edited by Nimz : 22nd March 2021 at 17:43.
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Old 23rd March 2021, 13:45   #4998
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Re: Automobile Insurance Queries? Ask me

Facts of the case -

1. My brother stays in Pune. His Suzuki Inazuma's ICICI Lombard Policy has expired on 08-03-2021. He has not renewed it as I am going to buy the bike from him.

2. I stay in Jalgaon and after the bike is transferred in my name, I may opt for the New India Assurance Policy, as my cars are insured from the New India Assurance since day 1.

3. Although have insured all my cars from New India Assurance from the start, I have never needed to claim any insurance, so I am not aware of their service if a claim was made.

Questions -

1. Considering that the Suzuki Inazuma is an imported + discontinued + complex machine, should I insure it from New India Assurance or is there any other better option or should I continue with the ICICI Lombard?

2. Whether the fact that I reside (and shall be using the bike) in a place like Jalgaon, and the vehicle is a complex imported and discontinued machine, will have any effect at the time of making, processing and settling a claim?

Last edited by Swapnil4585 : 23rd March 2021 at 14:06.
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Old 23rd March 2021, 14:35   #4999
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by Swapnil4585 View Post
He has not renewed it as I am going to buy the bike from him.
For the ownership transfer to happen a valid Insurance document is required for the RTO process, so suggest to get the insurance for the bike renewed. If you are NIA fan, then could get the insurance renewed with them before applying for the ownership transfer.

Assuming that your place does have a Suzuki service centre for the bike in question, better to visit the workshop to check whether they have a cashless tie up with NIA. If not then no point is getting fixated with insurance co. Hope this help.
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Old 23rd March 2021, 15:43   #5000
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Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by ghodlur View Post
Assuming that your place does have a Suzuki service centre for the bike in question, better to visit the workshop to check whether they have a cashless tie up with NIA. If not then no point is getting fixated with insurance co. Hope this help.
Despite having more local market share than TVS, Honda and Yamaha, they have flatly said no to service the bike. So no Suzuki.

There's a reputed private garage here that is a Japan specialist. The owner himself has a couple of Honda superbikes. He has agreed to service / repair the bike but he has no tie up with any insurance company.
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Old 24th March 2021, 12:43   #5001
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Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by Swapnil4585 View Post
There's a reputed private garage here that is a Japan specialist. The owner himself has a couple of Honda superbikes. He has agreed to service / repair the bike but he has no tie up with any insurance company.
In that case you will need to bear the repair charges and then apply for claim reimbursement. If NIA has good record to process such claims faster then can go with them else search for alternatives. In your case don't get bogged down by the Insurance premium costs.
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Old 29th March 2021, 14:10   #5002
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Re: Automobile Insurance Queries? Ask me

One of my Key Fobs has stopped working. I tried swapping the batteries with the other working one but still it doesn't work. Under my Motor Insurance policy, there is a Key Replacement Add on under Own Damage. Will this cover replacement of the non working Key Fob.

EDIT on 31st March:

I spoke to the Insurance company and found that only lost/stolen keys are covered under Insurance.
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Last edited by GTO : 31st March 2021 at 08:04. Reason: Adding your latest update :)
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Old 3rd April 2021, 15:05   #5003
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Re: Automobile Insurance Queries? Ask me

My car would be 5 years now. It's been on Maruti Insurance by National Insurance Company. I'm told that they won't offer zero depreciation insurance after 5 years. Is there any other company that offers Zero Dep after 5 years?
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Old 5th April 2021, 10:44   #5004
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Re: Automobile Insurance Queries? Ask me

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My car would be 5 years now. It's been on Maruti Insurance by National Insurance Company. I'm told that they won't offer zero depreciation insurance after 5 years. Is there any other company that offers Zero Dep after 5 years?
Many. Go to comparator websites and check for the correct IDV. If you find a sweet deal ask Maruti to match it. If they cant they wouldnt be able to arm twist in future to buy their insurance.
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Old 9th April 2021, 13:00   #5005
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Re: Automobile Insurance Queries? Ask me

Hi I am looking to renew by 2015 BMW 320d insurance. I want to continue with the Zero Dep policy but have few choices and pricing seems to be going up as my car is 6 years old. I intend to keep it for a few more years as its very low run.
I have full NCB (nowadays its capped at 50%).

So far the best quote is from ICICI (thru BMW) at 65k and Tata at c.70k.
Last year I had managed a premium of Rs.50k.

I am trying to avoid Royal Sundaram and IFFKO TOKIO given feedback on claim rejections etc.

Any insights/ views?
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Old 13th April 2021, 15:53   #5006
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Re: Honda Jazz : Official Review

So its that time of year when I need to renew the insurance for my VX CVT(EE). The car is completing 2 years this month and I took last 2 insurance policies from the dealer itself. So asked for a quote this year as well. They gave me 2 options worth 18k and 19k each. In the quote I see a component named Add-ons which is worth 7.5k+taxes that contain:

1. Engine Protect Plus
2. Zero Depreciation

Do these component costs increase as the car gets old? Last year when the car was 1 year old same ZeroDep+Engine-protect was 6889 INR+ taxes.

Total premium I paid last year was 18.3k , this year its 18k. I thought it would reduce but looks largely the same. Have the costs increased or the dealer is taking me for a ride?

Moreover I noticed they have reduced the IDV to 6.5L ...Ex-showroom while buying in 2019 was 9.3L. That's 30% depreciation in 2 years. Is this normal?

Last edited by SoumenD : 13th April 2021 at 15:56.
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Old 13th April 2021, 23:41   #5007
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Re: Automobile Insurance Queries? Ask me

My Creta 2019 model is due for its 3rd year OD renewal. The current insurance is from TATA AIG(Sapphire++) plan which pretty much covers everything.
This time during renewal the IDV value is showing as 9.45 whereas if I calculate it using the IRDA calculator it should be somewhere near 9.80.
Should I get IDV increased or should I leave it as it is as I also have the Return to Invoice addon?
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Old 19th April 2021, 22:20   #5008
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Re: Automobile Insurance Queries? Ask me

Hoping all BHPians are keeping safe.

Need your assistance and inputs in getting the insurance from the dealer or from external agency for the new Ford Ecosport Diesel 'S' that I'm planning to get the delivery in next 2 - 3 weeks.

I was given a quote of 61000 INR for the Zero Depreciation Comprehensive Insurance for the new car. I find this amount an extremely expensive proposition. However, I could see that I could get the same options from the external vendors likes of PolicyBazaar and Coverfox, with the important options like Engine Protection Cover, Key replacement, 24x7 RSA, Consumables, Tyre Protector etc. I'm getting nearly at half the amount ~32000.

I'm yet to speak to the dealer tomorrow to see if they can lower their quote and try to match at least at an agreeable price point which does not burn my pocket further. Meanwhile can you please help if anyone had taken this route earlier and if there are any cons of going through the external policy vendor for the very first year.

MODS: Please move this to relevant thread section if this is not the correct place.
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Old 21st April 2021, 15:30   #5009
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Re: Automobile Insurance Queries? Ask me

Cross posting from Tata AIG thread


Need some assistance please. Am looking to renew my insurance with Tata AIG for my 2014 Grand i10. Have been with Tata AIG for this car since day 1 and no claims to date. This would be my 8th renewal. However the quote I am getting is with TA 01 (Depreciation reimbursement add-on). I am aware, in some cases, zero-depreciation is available for 6th and 7th year.

I have got on the phone to them and explained how my car is completing 7 years in 5 days,and will be starting the 8th, and it's the 8th years policy that I am buying. I don't want to deal with them in the unfortunate need for a claim where the policy issued was incorrect. The script reading executives on phone insist that 2021 minus 2014 is 7, and since my car is 7 years old it is eligible for zero depreciation once again. And the quote is system generated, and will be honoured.

Am not convinced! How do I proceed.

Best,
Promit
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Old 28th April 2021, 13:24   #5010
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Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by SoumenD View Post
1. Do these component costs increase as the car gets old? Last year when the car was 1 year old same ZeroDep+Engine-protect was 6889 INR+ taxes.

Total premium I paid last year was 18.3k , this year its 18k. I thought it would reduce but looks largely the same.

2. Have the costs increased or the dealer is taking me for a ride?

Moreover I noticed they have reduced the IDV to 6.5L ...Ex-showroom while buying in 2019 was 9.3L. That's 30% depreciation in 2 years.

3. Is this normal?
1. Yes the premium for this cover changes, still it can differ from company to company.

2. Cost of TP (Third party) has changed.

3. You can (Should) ask for increase in IDV, in case of total loss claims, this will be a help. This is a normal practice of the dealers, they don't check the details of the last year's policy, but you should ask them to quote on high value and that will have minimal effect on the premium.

Quote:
Originally Posted by Artyom View Post
Should I get IDV increased or should I leave it as it is as I also have the Return to Invoice addon?
Go for more IDV.

Quote:
Originally Posted by promit View Post
Am not convinced! How do I proceed.
Remember one thing, if they have issued the policy, they have to pay the claim, they have your documents before buying the policy like RC book, they know the age of the car, you are not doing anything wrong. you should not be worrying for the claim.

Still to be double sure you provide them the RC copy and send them a mail regarding your query and let them reply in writing that the 0% Dep. is still applicable in your case, I think you should be cool with it.
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