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Old 5th May 2022, 11:59   #5191
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Default Re: Automobile Insurance Queries? Ask me

So that time of the year when car insurance is due for renewal. Car is 10 years old so am not getting zero depreciation insurance now (had it all these years).

Given that zero dep is going away, are there any specific covers that I should be looking for when purchasing insurance? At the moment Tata AIG is offering covers as Accidental Damage Cover, Liability to Third Party, Theft & Fire Cover and Repair of Glass, Fibre, Plastic & Rubber parts. This is under comprehensive plan. Is the above list of covers enough or anything should be added? RSA is not mentioned here and I am not seeing any option to add that so will probably call up Tata AIG and check if that can be added.

Also, can I have the IDV in the renewed policy as being higher than IDV in current policy. Current policy is from Iffco Tokio with IDV of INR 2,27,280/-. Tata AIG is giving a higher IDV of 2,42,000/-. I have always veered towards a higher IDV ever since a friend's car was stolen a few years ago and IDV was the value paid out.

Does it make sense to go for engine protection cover, assuming it is available for old cars?
EDIT: This is not available for old cars, is only available for cars which are upto 3 years old, not beyond 3 years. This was confirmed by IffcoTokio representative with whom I spoke few minutes back.

Cheers,
S

Last edited by sukhoi : 5th May 2022 at 12:21. Reason: Added details for engine protection cover
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Old 5th May 2022, 12:19   #5192
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by FrozeninTime View Post
I bought a car insurance policy from coverfox and typed the wrong expiry date of the old policy. Can it be changed?
If it can't be changed any effect on claims?
Best to get in touch with Coverfox support, in general they are responsive.
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Old 9th May 2022, 19:47   #5193
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by FrozeninTime View Post
I bought a car insurance policy from coverfox and typed the wrong expiry date of the old policy. Can it be changed?
If it can't be changed any effect on claims?
Please get it changes immediately through coverfox. There is a window when it can be done. I am going through a big ordeal where my car has been lying with the workshop for over 3 months now and the insurance company is denying to process the claim because of the exact same reason. Saying that I have tried to commit fraud. This, despite the fact that I had my insurance renewed 10 days before the old policy had expired.
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Old 9th May 2022, 21:04   #5194
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by sukhoi View Post
So that time of the year when car insurance is due for renewal. Car is 10 years old so am not getting zero depreciation insurance now (had it all these years).

Given that zero dep is going away, are there any specific covers that I should be looking for when purchasing insurance?
As a car gets older, I think you should be looking to reduce coverage rather than increase it - i.e. many people recommend not going for comprehensive insurance once the car is 10 years old & only go for 3rd party insurance - the premiums you pay may not be worth it on an old car.
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Old 10th May 2022, 17:04   #5195
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My VW Tiguan HL is currently insured with HDFC Ergo (vehicle purchased in 2018 and insuared by them from the date of purchase). Last year I had a claim of 45K and now for the reenewal they are asking for a ridiculous premium of 112,662 for an IDV value of 18 lacs. Is this normal? Last year premium paid was about 39K for an IDV value 20 lacs with Zero Dep, Enigine and Gear box protection, NCB Protection etc.

Last edited by AjiGTI : 10th May 2022 at 17:05. Reason: spelling
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Old 10th May 2022, 18:31   #5196
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by AjiGTI View Post
My VW Tiguan HL is currently insured with HDFC Ergo (vehicle purchased in 2018 and insuared by them from the date of purchase). Last year I had a claim of 45K and now for the reenewal they are asking for a ridiculous premium of 112,662 for an IDV value of 18 lacs. Is this normal? Last year premium paid was about 39K for an IDV value 20 lacs with Zero Dep, Enigine and Gear box protection, NCB Protection etc.
Go to another firm or go through an aggregator. This is ridiculous.
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Old 10th May 2022, 19:20   #5197
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Originally Posted by handsofsteel View Post
Go to another firm or go through an aggregator. This is ridiculous.
That is what I am trying to do. Unfortunately most of them not offering Zero Dep. For a VW car it is really important to have zero dep policy.
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Old 10th May 2022, 20:09   #5198
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by AjiGTI View Post
That is what I am trying to do. Unfortunately most of them not offering Zero Dep. For a VW car it is really important to have zero dep policy.
Go through the aggregator and tell him you want only zero dep policies. Else, try the public sector companies like new India etc. they oblige customers more than some of these pvt companies.
Btw, how old is your car? I think only SBI offers in the sixth year, rest all offer zero dep only in the first five years.
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Old 11th May 2022, 10:46   #5199
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Default Re: Automobile Insurance Queries? Ask me

My car is 4 years old and entering its fifth year. I have approached an insurance broker to see if something can be done with any biggies. Most of the aggregators are not offering zero dep.

One learning from the process is the computer-driven quotes don't make any distinction between the type of claim, in my case, it was a minor mishap and a scratch painting job. Even then my premium has been jacked up by HDFC Ergo even though I have stayed with them for four years. For the same reason, others deny the Zero Dep.

I have also learned from a broker that HDFC Ergo has this habit of jacking up the premium for VW type of cars as per ageing even if there are no claims.
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Old 11th May 2022, 11:05   #5200
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Quote:
Originally Posted by AjiGTI View Post
My car is 4 years old and entering its fifth year. I have approached an insurance broker to see if something can be done with any biggies. Most of the aggregators are not offering zero dep.

One learning from the process is the computer-driven quotes don't make any distinction between the type of claim, in my case, it was a minor mishap and a scratch painting job. Even then my premium has been jacked up by HDFC Ergo even though I have stayed with them for four years. For the same reason, others deny the Zero Dep.

I have also learned from a broker that HDFC Ergo has this habit of jacking up the premium for VW type of cars as per ageing even if there are no claims.
In my experience with zero dep (non VW), most of the companies stop offering this add on after 3-5 years, that too subject to prior claim history. In your case, it is better to explore other insurance companies who can offer reasonable premium. Going by your low claim number, even if zero dep is not available, it won't be much problem for you in future assuming similar driving style.

Last edited by Aviator_guy : 11th May 2022 at 11:07.
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Old 15th May 2022, 07:24   #5201
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Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by AjiGTI View Post
One learning from the process is the computer-driven quotes don't make any distinction between the type of claim, in my case, it was a minor mishap and a scratch painting job. Even then my premium has been jacked up by HDFC Ergo even though I have stayed with them for four years. For the same reason, others deny the Zero Dep.

I have also learned from a broker that HDFC Ergo has this habit of jacking up the premium for VW type of cars as per ageing even if there are no claims.
I had a bumper job done with my VW Vento last year. I too had the insurance with HDFC Ergo and had a claim. I just lost my NCB which is 50% against my OD (Own Damage) premium. There was no premium hike per se. Please check this. If you still see your premium rate has increased check directly in their website rather than checking out through a broker. Probably the NCB lost may look like a premium hike. If so, its there for every insurance company and not just HDFC Ergo.

Quote:
Originally Posted by AjiGTI View Post
My VW Tiguan HL is currently insured with HDFC Ergo (vehicle purchased in 2018 and insuared by them from the date of purchase). Last year I had a claim of 45K and now for the reenewal they are asking for a ridiculous premium of 112,662 for an IDV value of 18 lacs. Is this normal? Last year premium paid was about 39K for an IDV value 20 lacs with Zero Dep, Enigine and Gear box protection, NCB Protection etc.
Regarding Zero Dep, you can check in CoverFox. I made a check and found Bajaj Allianz provides an 18 Lakh cover at a premium of 38.5K with zero dep.

Last edited by Crank : 15th May 2022 at 07:41. Reason: Adding additional details
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Old 16th May 2022, 17:23   #5202
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Quote:
Originally Posted by Crank View Post
I just lost my NCB which is 50% against my OD (Own Damage) premium.
Yes. They have removed my OD premium discount and the current OD premium is aprx 3% of IDV which used to be about 1% in the past. Basically, they are charging 3x into everything except for the third-party cover. All in all, it is turning out to be very expensive. I have contacted HDFC Ergo directly and they are refusing to budge.


Quote:
Originally Posted by Crank View Post
Regarding Zero Dep, you can check in CoverFox. I made a check and found Bajaj Allianz provides an 18 Lakh cover at a premium of 38.5K with zero dep.
I will check this, ICICI Lombard is also showing the same on their website but when I tried purchasing they said Zero dep is not available.
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Old 24th May 2022, 21:47   #5203
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Default Re: Automobile Insurance Queries? Ask me

Time to renew insurance for my Ignis purchased in 2017. The Zero dep options have reduced. Looking at quotes from the following three:
  • Royal Sundaram (No Engine Protect)
  • Reliance Insurance
  • Future Generali

Any feedback on Future Generali? Royal Sundaram does not offer Engine Protect and hence leaning towards Future Generali and Reliance.

Which is better between Future Generali and Reliance?

Last edited by vsrivatsa : 24th May 2022 at 22:00.
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Old 1st June 2022, 12:26   #5204
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Default Re: Automobile Insurance Queries? Ask me

So i was checking insurance quotes on multiple sites for Activa which was purchased last year and i am a little bit confused as when i check on policybazaar there were no add ons like Engine cover, RTI or RSA but when i checked on insurance dekho website they were offering all of the addons and Chola MS was giving all the addons but when i checked on Chola MS's website for the same no add ons were available.

So are these addons only available to 4 wheelers or the InsuranceDekho website is correct or is this some sort of new scam. Kindly advise.
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Old 5th June 2022, 03:01   #5205
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Default Re: Automobile Insurance Queries? Ask me

Hello,
I recently got a pre owned Ford Aspire 1.5 Ti-VCT AT 2016 make with 45k on odo.
Car insurance was expired and I got a new insurance from ACKO for around 11k. Opted for zero-dep + engine and gearbox cover since DCTs are known to be unreliable.

I wanted to know whether we can get a claim in case of gearbox failure during normal running or does the gearbox have to be damaged in an accident?
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