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Old 4th December 2021, 13:53   #5101
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by NPV View Post

The dealer offered insurance as per price list is Rs.40,105 and says "ZD + EC + RTI 1 year OD". What's EC here ?

Appreciate any guidance on what to choose (is it worth getting 3/5 year coverage at the time of buying, etc) and also if we can get a better quote from outside - he plans to take the employer offered Orix lease plan so I'm not sure if it would be possible to buy insurance of his choice from outside since it won't be part of the Proforma invoice from dealer in that case.
3 year third party cover is mandatory for every vehicle sold I believe so wouldn't have much scope there.

EC stands for engine consumables. Depending on the cost and his driving manners + parking habits he can choose to keep or forgo it.

Generally insurance from.outside works much cheaper but check with lease provider on what restrictions they have, if any.
Can even negotiate the insurance amount with the dealer and ask him to match the outside quote.
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Old 4th December 2021, 17:49   #5102
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Re: Automobile Insurance Queries? Ask me

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Folks - an insurance question.
A friend is planning to buy a new S-Cross Zeta AT (doesn't own a car currently, so can't transfer NCB).

The dealer offered insurance as per price list is Rs.40,105 and says "ZD + EC + RTI 1 year OD". What's EC here ?

Appreciate any guidance on what to choose (is it worth getting 3/5 year coverage at the time of buying, etc) and also if we can get a better quote from outside - he plans to take the employer offered Orix lease plan so I'm not sure if it would be possible to buy insurance of his choice from outside since it won't be part of the Proforma invoice from dealer in that case.
In my office, insurance is paid by my company for employee lease option for the entire duration of lease. They have a tie up with specific insurance company. What is the case with your friend? If he needs to pay for insurance then I guess it is his choice of company.
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Old 5th December 2021, 22:32   #5103
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Re: Automobile Insurance Queries? Ask me

Hey folks. Heard from a service centre that if a vehicle has a claim under process and if the vehicle undergoes any damage while in use, it won't be covered. That is, there will be no coverage when a claim is under process. Is it true?
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Old 6th December 2021, 07:06   #5104
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Re: Automobile Insurance Queries? Ask me

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Hey folks. Heard from a service centre that if a vehicle has a claim under process and if the vehicle undergoes any damage while in use, it won't be covered. That is, there will be no coverage when a claim is under process. Is it true?
If the vehicle is already under claim process, why will it be with owner? It will be with the workshop and any damage to the vehicle during the claim process will be the responsibility of the workshop. Whats there to be debated here?
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Old 7th December 2021, 11:08   #5105
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Re: Automobile Insurance Queries? Ask me

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If the vehicle is already under claim process, why will it be with owner? It will be with the workshop and any damage to the vehicle during the claim process will be the responsibility of the workshop. Whats there to be debated here?
I am referring specifically to cases where the car is in usable condition, at least for in city use, like damaged fog lamps, cracked bumpers without chassis damage etc.
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Old 8th December 2021, 16:35   #5106
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by lamborghini View Post
Generally insurance from.outside works much cheaper but check with lease provider on what restrictions they have, if any.
Can even negotiate the insurance amount with the dealer and ask him to match the outside quote.
Came a full circle in just 2 days on the insurance part

Initially the team that manages leasing said that the employee is free to choose a vendor & plan from their approved list or choose something offered by the dealer or from buy from outside. This seemed really flexible, so when we compared the options from the dealer and the leasing company, the dealership offered Maruti insurance options had the best coverage and premiums from 13 insurance companies so we didn't bother to look outside. The dealer then included the insurance premium amount in the Proforma invoice and my friend submitted that to the lease team.

Now, the leasing team got back saying insurance must be chosen from one of their approved vendors and plans. For an IDV of 10.63 Lakhs, the best one seems to be Allianz Bajaj with their Drive Assure add-on and comes to around Rs.44k, which is about 3k more than the best one offered by Maruti. Anyways, just need to bite the bullet and move on.

I'm not sure though if the leasing company mandates buying insurance from them every year during the lease period, that is something my friend is clarifying with them.

Also, insurance is not borne by employer but employee so this will be part of EMI on total amount funded by leasing company.

Last edited by NPV : 8th December 2021 at 16:41.
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Old 13th December 2021, 17:15   #5107
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Re: Automobile Insurance Queries? Ask me

Guys I just closed deal on Turbo Duster CVT a month ago. The previous owner had given post dated cheque for the insurance renewal without any add-ons and it seems I can only use the insurance plan that he had opted for.

I can't do any add on like zero depreciation, engine protect and IDV protect et al. I've RC in my name and would like have add-ons added and insurance reflect my name as per the latest RC.

Could someone please clarify.
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Old 13th December 2021, 17:37   #5108
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Re: Automobile Insurance Queries? Ask me

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Guys I just closed deal on Turbo Duster CVT a month ago. The previous owner had given post dated cheque for the insurance renewal without any add-ons and it seems I can only use the insurance plan that he had opted for.

I can't do any add on like zero depreciation, engine protect and IDV protect et al. I've RC in my name and would like have add-ons added and insurance reflect my name as per the latest RC.

Could someone please clarify.
You can contact the insurance company to get the current policy transfer to your name. Not sure if PDC will still be valid once policy is transferred to your name.

For the next renewal, you can call them for add ons or you can go with another insurance provider who is willing to give you the add on you like. Zero Dep insurance is only offered for first 3-4 years (depends on the company and claim history ) so you can explore if this addon is still offered.

Last edited by Aviator_guy : 13th December 2021 at 17:38.
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Old 15th December 2021, 11:22   #5109
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Re: Automobile Insurance Queries? Ask me

Guys,
We had transferred the existing insurance from the first owner of our pre-owned car 6 months ago and now the time is up for renewal. Our NCB got reset to 0% when the transfer happened which was by the book. But now when I try to do a renewal with the current insurer (Tata AIG), the website is calculating 0% NCB (no claims were made during the year) for 2022 insurance.

We'll be checking with them, but trying to get clarity if the NCB would be at 0% for the next year given we had the insurance cover in our name for only ~6 months? I can set NCB to 20% on Policybazaar and get quotes but want to check get opinions if my understanding is correct here.
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Old 15th December 2021, 11:24   #5110
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by ninjatalli View Post
Guys,
We had transferred the existing insurance from the first owner of our pre-owned car 6 months ago and now the time is up for renewal. Our NCB got reset to 0% when the transfer happened which was by the book. But now when I try to do a renewal with the current insurer (Tata AIG), the website is calculating 0% NCB (no claims were made during the year) for 2022 insurance.

We'll be checking with them, but trying to get clarity if the NCB would be at 0% for the next year given we had the insurance cover in our name for only ~6 months? I can set NCB to 20% on Policybazaar and get quotes but want to check get opinions if my understanding is correct here.
Same thing happened with me and looks like it is how it is setup. I didn't follow up but you can check with customer care f there is any option.
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Old 16th December 2021, 20:16   #5111
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Re: Automobile Insurance Queries? Ask me

Should I take zero depreciation insurance for the 7th year? If yes, is ₹15,822 a good deal for ₹5,11,000 IDV with roadside assistance, personal accident, consumable, engine and gearbox cover?

(Provider: Go Digit General Insurance)
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Old 17th December 2021, 08:05   #5112
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by ninjatalli View Post
Guys,
But now when I try to do a renewal with the current insurer (Tata AIG), the website is calculating 0% NCB (no claims were made during the year) for 2022 insurance.
Was the Insurance ownership transferred to your name? Is your name reflecting on the renewal quote? If so, then you should be eligible for 20% NCB else it is like buying a new Insurance and hence NCB will be zero.

Quote:
Originally Posted by airbus View Post
Should I take zero depreciation insurance for the 7th year? If yes, is ₹15,822 a good deal for ₹5,11,000 IDV with roadside assistance, personal accident, consumable, engine and gearbox cover?
You should opt for the zero dep add on cover for that extra peace of mind, rest of the add on covers are subject to your choice. Hope you have calculated the IDV correctly and ensured that the Insurer has a cashless tie up with the workshop where you would normally service your car.
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Old 17th December 2021, 10:29   #5113
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Was the Insurance ownership transferred to your name? Is your name reflecting on the renewal quote? If so, then you should be eligible for 20% NCB else it is like buying a new Insurance and hence NCB will be zero.
Yes and all the contact details are reflected correctly. Let's see - we are calling Tata AIG customer care to confirm/correct this. Else it's zero dep cover via policy bazaar only, with 20% NCB.
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Old 18th December 2021, 13:11   #5114
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Re: Automobile Insurance Queries? Ask me

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Originally Posted by ninjatalli View Post
we are calling Tata AIG customer care to confirm/correct this. Else it's zero dep cover via policy bazaar only, with 20% NCB.
Per my understanding, only after one year of no claims would the policy holder be entitled to an NCB of 20%. Since only 6 months have passed in your case is probably the reason Tata AIG shows 0% for renewal.

When renewing online through CoverFox, I have observed a clause stating that the NCB selected by me, if found to be invalid, will impact the policy. In case you select 20% and later the insurer raises a concern that it should have been 0% - not sure whether it can be corrected by paying up the difference, or whether the policy itself will become null and void.
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Old 18th December 2021, 14:44   #5115
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Re: Automobile Insurance Queries? Ask me

Got the insurance done for my XUV 700 AX7 Petrol Automatic from HDFC Ergo independently as the dealer had quoted an insane amount for the same package and could not match my quote.

Premium: 74k.
Inclusions: 1 year OD + 3 years TP. Zero Dep, RTI, Engine & Gearbox Protection, Consumables, PA Cover for Owner Driver, RSA.
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