[Mainali]

Originally Posted by ghodlur

Why would you even consider an Insurance co which doesnt even give you the premium quote for the car you own rather than some other car. Have you tried at the other comparator site like cover fox or Policy bazaar? Are you able to get a quote for your car? What Insurance did your car have for the first year? Did you get an renewal premium quote? Any issues with that Insurance co? It would be improper for any BHPian to help you for a wrong car premium quote

Do I have any issues with the previous Insurer?

No, I never had to contact them. The insurance I got when I bought the car was from Bharati Axa. I have just driven 2000Km in my one year of ownership, owing to multiple reasons like lockdown, WFH and family emergency where I left the car for 2+ months.

Did I try multiple platforms to get the best quote?

yes I have started looking out since January 22, I also got a quote of 17K including GST with the following add ons from Naara Kia JP Nagar, Bangalore by Reliance General Insurance.

KEY LOSS ,PERSONAL BELONGING ,ZERO DEPRECIATION,CONSUMABLES,ENGINE PROTECT

I also have received quotes from different insurance provider in the range of 12-15K for more or less the same add ons, some didn't had personal belongings and key loss. The whole dilemma is, they(Naara Kia JP Nagar) told me while purchasing the car also that insurance bought from outside will not have cashless coverage. This time also for renewal when they are calling me and when I say your premium is higher, they say the same thing. We are fine, you can buy from outside, but cashless settlement will not be entertained.

Other companies which are trying to sell me an insurance say, they have cashless settlements and all, but I don't find the name of any Kia service centres in the list of cashless garages

I am a very safe driver, but we all know how Indian roads are, and this being my first car I don't want to end up with a huge financial cost that I have to pay upfront and then run around to recover that later. I would not want to see that day but you never know. I have read horror stories in this forum, what Insurance company do at the time of claims and settlement. Repairing a two wheeler from pocket is different thing for me but a car, if there is something major is a completely different thing for me.

[bhappyharsha]

Hello. I'm planning to buy Honda City. The dealer gave me an insurance quote (Honda insurance) for ~54k₹ (ZX CVT). The IDV is 90% of 14.98 lacs. This includes comprehensive and zero dip for 1 year and third party for 2 more years.

When I tried to negotiate, they said outside options like acko will not cover all the parameters that Honda covers. Upon pressing he suggested Raheja QBE which will be ₹10k less for the same parameters.

Can someone suggest must haves in insurance cover? Will it help anyway if we take insurance from the dealer?

Any help in helping me decide is much appreciated.

Regards,
Sri Harsha

[ghodlur]

Originally Posted by bhappyharsha

Can someone suggest must haves in insurance cover? Will it help anyway if we take insurance from the dealer?

Your Insurance premium quote should be for an IDV which is 5% less than the ex-showroom cost. Find out with which Insurance cos does Honda workshops have a cashless tie up and get a comparison for the Insurance premium on comparator sites like coverfox and Policy bazaar for those Insurance cos. Pick the best one (based on workshop feedback on the claim process), need not be the lowest one.

The suggested must haves in an Insurance cover would be comprehensive OD, TPL, add on covers like zero depreciation & engine protect. Other like to have add on covers for a new car would be Return to Invoice, Consumable cover etc. Pls ensure that the Insurance co have a Road Side assistance included in the policy (check for towing charges, arrangement of alternate vehicle in case of breakdown).

[JoshMachine]

Originally Posted by bhappyharsha

Hello. I'm planning to buy Honda City. The dealer gave me an insurance quote (Honda insurance) for ~54k₹ (ZX CVT). The IDV is 90% of 14.98 lacs. This includes comprehensive and zero dip for 1 year and third party for 2 more years.
---
Can someone suggest must haves in insurance cover? Will it help anyway if we take insurance from the dealer?

Besides the standard items like RTI, Engine + key cover, consumables etc. that you will want to avail of, you should also transfer the previous policy's NCB to this new car insurance policy.

Please note, that NCB amount holds true only for the 'Own Damage' component of the policy, not the entire policy as such. But this could still translate to a neat saving for the new policy, so please keep a track.

And please do a comparo on policybazaar, coverfox etc. to see various options.
If the dealer matches the online quotes, and yet retains the important line items like cashless claims and other things, you should go ahead with the dealer itself.

[Sridhar C E]

My friend sold his car in DECEMBER 2018 through OLX to a person , lets call him Mr. A. My friend ensured that Mr. A’s name was filled in forms 29 and 30. He sent letters by Speedpost to both the RTOs - the seller and the Buyers jurisdiction RTOs. He retained the Speedpost receipts addressed to both RTOs. He also e-mailed the IFFCO-TOKIO sales agent from whom the insurance was purchased, saying that he had sold the car and that he had no objection to Mr. A enjoying the remainder of his car insurance, which was valid till JUNE 2019, a good 6 months away.

Cut to yesterday, February 21st, 2021.

My friend was shocked to receive a court notice from a lawyer in a town about 200kms away from Bangalore. The story was that my friend’s car was involved in an accident where a 67 year old 2 wheeler rider was knocked down in May 2019, and the injured person was now claiming damages of Rs 40 Lakhs from 1) The driver of the car 2) The owner of the car, a Mr. B (not Mr. A to whom my friend had sold his car to and had sent copies of forms 29 and 30 to the relevant RTOs , by Speed post) 3) My friend, as the insurance was in his name at the time of the accident and 4) IFFCO-TOKIO INSURANCE.

My friend is shocked and so am I since I had advised him on this particular sale. My friend is going to engage a lawyer to represent him in the court in whose jurisdiction the case is to be heard.

I wanted to know if my friend will be held liable for the damages. Will IFFCO - TOKIO refuse any liability saying the car insurance was not transferred to Mr B’s name? I welcome inputs from our learned members.

[neutron]

Dear All,

This query is more related to insurance claim process and associated issues where service centre got inflated bills approved from the insurance and claimed it on my vehicle. I am not financially impacted as the insurance provider approved it. But i really felt hurt as this amounts to cheating.

My vehicle has been accidental having damages to the
1) underbody lower arm
2) quarter panel left
3) no visible impact to bumper but only bumper joint opened

As the service centre has cashless claim with the insurer, i was only given a verbal estimate of around 8-10k subject to approval from insurer, there was no written estimate given at the time of vehicle submission to the service centre. when the claim was approved, i got to know that they have given a costing of 21.5 k to the service centre and my rear bumper was completely replaced as per the costing shared in the invoice.

When i confronted the service centre, they were unable to show the original bumper to me and mentioned that it has been put for salvaging but they failed to bring my bumper. As of now, since the repair was not even proper, the vehicle was left in the service centre and asking them to get a clear information on the same.

Kindly suggest what's the way forward, this seems to be open loot since repair process lacked tranparency and they billed that amount to the insurer which was never replaced to my understanding.

Please suggest.

Thanks

[Styler]

Hello All

I have a Delhi Registered Toyota Camry Dec 2007, it completes 15 years in Dec 2022. The insurance is expired.
Now a friend of Kerala is buying the Car and will get it transferred to his name with a new Kerala Registration.

I recently sold my Grand Vitra to the same person to the Kerala Address. The Grand Vitara had a Valid Third Party insurance so an Agent could get me the NOC for the Kerala buyer in a week without a problem.

First step for the Camry is to get a NOC. To get the NOC we need a valid insurance. The buyer friend has transferred the Third Party Insurance Amout to me and I need to buy the Third Party insurance to get the NOC.

Now my question is if I should buy the insurance in my name as the Car is still registered to my name in the Delhi Address, or can we buy it in the name of the Buyer with a Kerala Address. Eventually when the Car is registered in Kerala with a new Registration No, and a new Owner, the Insurance needs to be transferred / endorsed in that name.

When I asked the Agent he tells me you can buy the insurance with the Delhi No in the buyer's name. When I asked HDFC Ergo, they tell me I should buy the insurance in my name now as the Car is still registered in my name. Later when it is transferred to the new Owner in Kerala, it can be endorsed with the new Registration No and Owner's name when the Registration Certificate in Kerala is issued.

What is the right way to go, keeping in mind that after the Car is Transferred we will need to transfer the insurance to reflect the new Owner Name and the New Registration No of Kerala.

Styler.

[adisan]

Originally Posted by Styler

When I asked HDFC Ergo, they tell me I should buy the insurance in my name now as the Car is still registered in my name. Later when it is transferred to the new Owner in Kerala, it can be endorsed with the new Registration No and Owner's name when the Registration Certificate in Kerala is issued.

My understanding is the same - for NOC, RC transfer a valid insurance in the present owner's name and a valid PUC will be needed.

[neutron]

Originally Posted by neutron

As the service centre has cashless claim with the insurer, i was only given a verbal estimate of around 8-10k subject to approval from insurer, there was no written estimate given at the time of vehicle submission to the service centre. when the claim was approved, i got to know that they have given a costing of 21.5 k to the service centre and my rear bumper was completely replaced as per the costing shared in the invoice.

Please suggest.

Sorry for being impatient here, this is my first insurance take. Please suggest on my original posting.

Additional doubts:
1) Should i be reporting this issue with the insurer? Please note that the repair amount is already approved
2) Service centre has not shown me any damaged part nor able to show damages on the bumper as of now. What's my right here? - They said it has been shared with the insurer earlier while submitting the claim. I do not know what kind of nexus is present.

Thanks

[ksakotai]

Hello friends

I have booked Celerio CNG with Varun Motors in Hyderabad. The ex-showroom price is 6.58L. Their insurance price is 23,339 (1 yr Owner, 3 yrs 3rd Party, Zero Dep, Engine Protection, RTI).

I thought this price was on the higher side. I went to policy bazar to check.

United India Assurance gave me a quote for identical features which comes to 15,108. This is based on IDV of 6,25,100 which is 95% of the ex-shoroom price.

There is in addition

- 24x7 roadside assistance
- Anti-Theft discount (if I put in a device)
- Self Video Claim
- Reimb within 3 days for Non-Cashless claims

There are quite a few MASS near my house which offer Cashless service.

There is a 1000 compulsory deductable apparantly mandated by IRDAI.

A similar quote from Digit gave me 16,877. However IDV is only 5,76,000 which is 87.5% of the ex-showroom price. Digit specifically mentions additionally:

- 6 month repair warranty
- Free pick up and drop off
- Advance claim Payment.

For any repairs done, isnt there an automatic warranty as a MASS? So dont know why Digit makes this mention specifically? Or is it just a marketing gimmick?

Which plan sounds better in your collective wisdom?

Thanks in advance....

[anjan_c2007]

I had done lifetime insurance (third party) for two of my 2 wheelers (still owned by me) in the early 1990's by paying hefty premiums, as compared to the meagre yearly premiums then.

Both insurances were done by National Insurance Company, a PSU. The policy read "insurance valid till the cancellation of registration of the motor vehicle". In fact, both the two wheelers have current, valid RTO fitness. Rather they have always been fit during their lives as per the RTO procedures.

Hence, what about the status of these two life time insurance policies as on date? Could anyone please guide?

[Aviator_guy]

Mod Note : Please quote ONLY the relevant bits of a post. Quoting a full, long post inconveniences our mobile readers.

Thanks!

Originally Posted by ksakotai

A similar quote from Digit gave me 16,877. However IDV is only 5,76,000 which is 87.5% of the ex-showroom price. Digit specifically mentions additionally:

- 6 month repair warranty
- Free pick up and drop off
- Advance claim Payment.

For any repairs done, isnt there an automatic warranty as a MASS? So dont know why Digit makes this mention specifically? Or is it just a marketing gimmick?

Which plan sounds better in your collective wisdom?

Thanks in advance....

Some suggestions
1. Check with your preferred MASS whether they offer cashless facilities for the insurance company you shortlist. Also check vice versa with the insurance company.

2. Last time I checked with Digit, they did not have preferred network tie up with OEM ( I checked for Hyundai). Instead they mentioned that in case of any repairs, I'll have to use service of their own preferred vendors (multi brand) for cashless and seamless paper work. So I dropped it from my list. Do check for tie up with MASS.

[hellmet]

Guys, my parents bought an S-Presso last year. At purchase time they signed up for 1 year comprehensive + 3 year third-party and the company is Bajaj Allianz.

This year, renewal is due. We wanted to increase the IDV but Bajaj has been surprisingly dis-interested in pursuing us. No call backs despite us trying a few times.

In the mean time, the showroom got us in touch with Maruti Insurance. Their policy is slightly more expensive but includes some additional features.

Now the question: If we choose Maruti Insurance for comprehensive, and we have third party from Bajaj Allianz, how does it work?

[ksakotai]

I am confused at the various replies regarding IDV and Depreciation.

So if my IDV has been set at 6,25000 for my car by the Insurance company, does it mean in case of totalling, I will get in fact less than IDV? If so, this beats the concept of IDV.

If I get Zero Dep, then will not the effect of Depreciation to calculate the value of car be moot?

Please clear this conundrum....

[StepUP!]

Sorry if this has been answered before, I didn't know how to search for it. I have a query on car's IDV and RTI cover.
When I have RTI cover, I don't see a point in buying an insurance with higher IDV, typically 95% of car's ex-showroom price. Reason being both come into play only in case of total loss. (IDV could play a role while selling the car, but I see that is very limited in scope).

So in case of total loss, when my RTI cover is giving me invoice amount, why would I waste my money on higher IDV which is redundant anyways? RTI cover is cheaper to buy.
For ex., my new XUV with 22 lakhs IDV is priced at 80k with covers like RTI, zero-dep, engine, consumables etc.
If I reduce the IDV to 16L, the insurance premium gets reduced to 65K with same add-ons, which is considerable saving.

And many insurance companies give option to alter IDV if you wish to during subsequent years.

This theory / assumption of mine isn't debunked yet to whoever I spoke with.

One remote possibility could be, in case of major repairs, lower IDV might result into total loss where higher IDV would go for repairs. This again I see as an advantage to the buyer as I will prefer total loss in case of major repairs.