[adisan]

Originally Posted by raunaksaha2008

I wanted to know whether we can get a claim in case of gearbox failure during normal running

My understanding is that even with the add-on covers, issues arising from normal running won't be covered.

[Aviator_guy]

Originally Posted by raunaksaha2008

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?

Insurance only covers accidental damages. For regular wear, tear or manufacturing defects, we need to rely on warranty claims.

[srirang]

Hi,

Upfront Disclaimer : I tried to go through the pages of this thread, but they were just too many for me to cover comprehensively. So please pardon me if I am repeating questions which have already been answered. If that's the case, please redirect me to the relevant page and I will read it up.

Background :
I have a Skoda Rapid 1.0 TSI Rider Plus AT, purchased on 01-July-2021. My policy is up for renewal by the end of this month and I have been getting some quotes. I also tried to look up quotes myself online.

Here are my questions :

1. If I have an RSA from Skoda. Would I still need an RSA addon from insurance provider?
   1. Any feedback on Skoda RSA?
2. What is the community feedback about Acko? Currently that is the cheapest provider in my searches.
3. If I am opting for the "Return to Invoice" addon, then does the IDV have any importance at all? From what I have read in this thread, IDV is used in case of total loss / theft. However with "Return to Invoice" I would get the full invoice amount (which will be higher than IDV) in such a case, right? If that is true, then it is about balancing the cost of this add-on v/s the cost of increased IDV. Am I missing something here?
4. Some insurance providers advertise "Cashless" and some also advertise their "network garages". My car has warranty for few more years. Now if in case of an accident or damage I get my car repaired at any of these "network garages" (which most of the cases are not company service centers), wouldn't that void the warranty?
   1. If it does, then I will have to look for an insurance provider who offers cashless at one of the Skoda service centers, right?
   2. The "Coverfox Claim Support" would also fall under similar service, right?
   3. To add some relevant info, I currently have insurance from Reliance and had a fully seamless cashless experience earlier this year. I did not even see the insurance guy, the service center guy handled it all. I do not know who made it so seamless for me..!

Another question which got answered was this :

1. Since I have warranty, do I need add-ons like Engine Protector?
   1. I think the answer is yes. Warranty and Insurance are complementary. Warranty covers wear and tear while insurance covers accidental damage.

[condor]

How does comprehensive insurance component work for old vehicles, where the depreciation has dropped to zero, based on the calculations that insurance companies use ?

We see many old cars on the roads, and many TBHP-ians have old cars. Do these 30, or 35 year old cars have comprehensive insurance ? IF yes, which company ?

[ghodlur]

Let me try to answer your queries.

Originally Posted by srirang

If I have an RSA from Skoda. Would I still need an RSA addon from insurance provider?

If the Insurance RSA is offered as a part of package then good to have it. If offered for a price, then no need to take it.

Any feedback on Skoda RSA?

Leave it to Skoda owners to comment

What is the community feedback about Acko? Currently that is the cheapest provider in my searches.

Cheapest is not always the best. The best people to comment on the service would be the workshop team.

If I am opting for the "Return to Invoice" addon, then does the IDV have any importance at all? From what I have read in this thread, IDV is used in case of total loss / theft. However with "Return to Invoice" I would get the full invoice amount (which will be higher than IDV) in such a case, right? If that is true, then it is about balancing the cost of this add-on v/s the cost of increased IDV. Am I missing something here?

IDV or Insured Declared value is the value for the which the vehicle is insured for the policy year. IDV is used as a component when determining the claims for any types of incidents with the vehicle and theft is one of them. If you have the Return to invoice add on, there are T&Cs which will be enforced if there is a case of Theft only. IDV is derived based on the depreciation table and is generally fixed. Over/under insuring by changing the IDV is not advisable as the Insurers will calculate the IDV based on the actual conditions when a claim is made.

Some insurance providers advertise "Cashless" and some also advertise their "network garages". My car has warranty for few more years. Now if in case of an accident or damage I get my car repaired at any of these "network garages" (which most of the cases are not company service centers), wouldn't that void the warranty?

Network garages are the OEM approved garages where the vehicle can be serviced. Cashless workshops are those where there is a tie up with the OEM for repairs.

If it does, then I will have to look for an insurance provider who offers cashless at one of the Skoda service centers, right?

That's the most feasible choice.

The "Coverfox Claim Support" would also fall under similar service, right?

Probably, T&Cs need to be checked.

[G-BoleroBoy]

Hello BHPians,

I am currently in the market to renew insurance for my 2014 Innova G manual, Diesel car. This insurance is expiring on July 4th. Toyota proactively reached out and offered multiple choices with IDV as 8.5L, Nil depriciation and Toyota protect for Rs 35,000. Acko provides the same at Rs 31,000. Surprisingly, digit is providing IDV of 3.5L to 5L only and the sales rep mentioned acko is only providing attractive IDV, however that will not be valid during claim. Claim will be considered at depreciated market value only (and that would be lower than 5L). I am now confused whether to go with Toyota protect (assurance of Toyota authorised service center), Acko (service center recommended by Acko as per their preferred service center list) or something else. Acko package mentioned about is Comprehensive super saver with NIL depreciation. Apparently, ACKO is not giving an option of comprehensive coverage with NIL depreciation without super saver. And super saver as I understand will mandate me to send the vehicle to service center suggested by Acko and may not be Toyota authorised. Request your suggestions and support to make the right decision. Thank you in advance.

Regards,
Girish

[Aviator_guy]

Originally Posted by G-BoleroBoy

Hello BHPians,

I am currently in the market to renew insurance for my 2014 Innova G manual, Diesel car. This insurance is expiring on July 4th. Toyota proactively reached out and offered multiple choices with IDV as 8.5L, Nil depriciation and Toyota protect for Rs 35,000. Acko provides the same at Rs 31,000. Surprisingly, digit is providing IDV of 3.5L to 5L only and the sales rep mentioned acko is only providing attractive IDV, however that will not be valid during claim. Claim will be considered at depreciated market value only (and that would be lower than 5L). I am now confused whether to go with Toyota protect (assurance of Toyota authorised service center), Acko (service center recommended by Acko as per their preferred service center list) or something else. Acko package mentioned about is Comprehensive super saver with NIL depreciation. Apparently, ACKO is not giving an option of comprehensive coverage with NIL depreciation without super saver. And super saver as I understand will mandate me to send the vehicle to service center suggested by Acko and may not be Toyota authorised. Request your suggestions and support to make the right decision. Thank you in advance.

Regards,
Girish

There are no free lunches. Acko is able to provide lower rates because you need to go with their preferred choice of service center which may not be OEM but some multi brand outlets. If you have been maintaining your car at Toyota service center and are wary of going to random third party garage during any claims with Acko then you should go with Toyota insurance for peace of mind.

[condor]

Originally Posted by G-BoleroBoy

digit is providing IDV of 3.5L to 5L only and the sales rep mentioned acko is only providing attractive IDV, however that will not be valid during claim.

Isnt that contradictory ? IDV value in the policy will be the final word. Just think - written word vs what is said - which one will hold ?

And with 5L difference in IDV between Toyota and Digit, which one do you think will provide better coverage ?

People try to get higher IDV. And here you are asking if you should go with a coverage that is about 60% lower ? No brainer, pal - I would go with Toyota here.

[Thad E Ginathom]

Once total loss happens, the value of your car is, on the day, what the insurance company says. They do not pay out according to a customer-chosen IDV, but they do charge more premium.

[thanixravindran]

IDV for cars beyond 5 years does not follow the depreciation schedule but is a contract between insured and insurer. So if both of you agree to a value it means you have done the due diligence. And for Total loss case, IDV must be paid without any market value consideration unless your insurance contract specifies it. Insurance companies sell the total loss vehicle as whole or scrap to reduce their payout. They specify the IDV based on their own past payouts and hence vary widely.

In this case, Digit would have been loss making on Innova payouts and hence low IDV quoted to reduce insuring Innovas. Toyota sales rep is bluffing about Acko but I will be glad to go with Toyota itself as the difference is just Rs. 4000 for same cover for peace of mind.

[r_nairtvm]

Originally Posted by thanixravindran

IDV for cars beyond 5 years does not follow the depreciation schedule but is a contract between insured and insurer. So if both of you agree to a value it means you have done the due diligence. And for Total loss case, IDV must be paid without any market value consideration unless your insurance contract specifies it.

Agree, this is the position that's been legally decided in India and in UK.

Further IDV is to be decided on the basis of Depreciation rate chart of IRDAI on the current Invoice price of the vehicle in question or a comparable model (if the exact model is not in production any more).

Best Regards & Drive Safe

[efgritesh]

A NOOB question may be, when I bought the car i also took 3 years zero dept insurance. Its time to renew and I want to extend the same for 3 more years as the plan is to retain the car for at least 3 more years.

I have been told by the advisor that 3 years is only available with new car, is that true? online also i cant find out any options other than 1 year. can some one please add some insights on this?

[Sran]

Originally Posted by Thad E Ginathom

Once total loss happens, the value of your car is, on the day, what the insurance company says. They do not pay out according to a customer-chosen IDV, but they do charge more premium.

Originally Posted by r_nairtvm

Agree, this is the position that's been legally decided in India and in UK.

Further IDV is to be decided on the basis of Depreciation rate chart of IRDAI on the current Invoice price of the vehicle in question or a comparable model (if the exact model is not in production any more).


Best Regards & Drive Safe

Now I am confused. Will the insurer pay or not pay the IDV of car. Why did Toyota say that acko would not pay full agreed insured IDV amount, toyota rep is bluffing or is there any truth in it?

[moh1t]

I’m renewing my 2021 harrier’s own damage (OD) insurance for the first time. I noticed a strange way of giving discount. Getting it from the same tata workshop I get it serviced at.

The agent first gave me a quote of 27k + a dealer discount of 2k. He later sent another quote of 22k with everything the same except basic vehicle premium was 6k less. The agent said this is after discount. This confused me!

I thought IRDA had standardised the premium amounts and dealers typically give discount from their commission/margin. I got a quote from another dealer also for 27k. How is this guy giving me an exact 33% lower basic premium? is this normal?

[sachit0901]

Originally Posted by efgritesh

A NOOB question may be, when I bought the car i also took 3 years zero dept insurance. Its time to renew and I want to extend the

Yes it’s true 3 years OD was available to new car purchases, I think that is also discontinued now. For renewal you have to get it done yearly.