[condor]

Originally Posted by moh1t

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!

Check the IDV and other covers. Reduction in IDV is a key reason for reduction in premium. Compare the quotes line by line, box by box and you should be able to track it.

[moh1t]

Originally Posted by condor

Check the IDV and other covers. Reduction in IDV is a key reason for reduction in premium. Compare the quotes line by line, box by box and you should be able to track it.

Thanks I did that and it’s identical. The agent said he got a special approval from the back end team( of the brokerage firm I suppose). Going ahead with it.

[condor]

Originally Posted by moh1t

Thanks I did that and it’s identical. The agent said he got a special approval from the back end team( of the brokerage firm I suppose). Going ahead with it.

Happens. I have got the best premiums from the dealership I get it serviced at.

btw, I did ask, and they said that a 10% increase in IDV is officially allowed. And as depreciation keeps reducing, once the IDV touches 2L, it can be maintained at that level for the Safari.

[tud]

Do cars registered under company name accumulate NCB every year?

If so, can NCB be transferred to a newer car policy from an old car that has been sold - considering both cars are under the same company name.

[ghodlur]

Originally Posted by tud

Do cars registered under company name accumulate NCB every year?

If so, can NCB be transferred to a newer car policy from an old car that has been sold - considering both cars are under the same company name.

Yes, the Company registered cars also accumulate NCB at the end of every year. The NCB accumulated can be transferred when purchasing new car under company registration.

[Suryendu87]

I recently acquired a pre owned Hyundai Santafe. It's registered in my wife's name.

While we will purchase a comprehensive insurance, my question is will the insurance cover any damages that were done while I am driving the car alone?

[Aviator_guy]

Originally Posted by Suryendu87

I recently acquired a pre owned Hyundai Santafe. It's registered in my wife's name.

While we will purchase a comprehensive insurance, my question is will the insurance cover any damages that were done while I am driving the car alone?

Insurance covers anyone driving the car with valid driving license and not restricted to the owner only.

[Rookie_Jeeper]

Hi guys, I recently changed my OD insurance provider. I had done this about a month before the renewal date. I got NCB as well as there were no claims. Last week one cab driver damaged my rear bumper. Hence I had to claim the insurance with about 1 week left in the policy .

Since I am technically not eligible for the NCB anymore what do I need to do to about the NCB I received with the new insurance provider? Please advise.

[shankar.balan]

Originally Posted by Rookie_Jeeper

Last week one cab driver damaged my rear bumper. Hence I had to claim the insurance with about 1 week left in the policy .

Since I am technically not eligible for the NCB anymore what do I need to do to about the NCB I received with the new insurance provider?.

You will have to declare this to the new insurer.
This is mentioned very clearly in the terms and conditions of renewal.

By declaring it you ll lose your 50% NCB.
But then its the right thing to do.

Im sure the cost of repairs that you just underwent would have put you quite a bit out of pocket had you elected not to claim insurance and pay for it yourself.

The trade off is the actual NCB cash value vs the cost of repairs. If the cost of repairs exceeds the value of the NCB then youve anyway come out ahead.

So take it on the chin and go and do the right thing by your new insurer.

[brownkaiser]

My 2021 Mahindra XUV 5OO W11 (O) AT is up for insurance renewal. The existing insurer is Tata AIG and they have quoted INR 22,000 for renewal. The following items have been covered in the quote:

1. Own Damage
2. Repair Glass/ Fiber/ Plastic
3. Depreciation Reimbursement
4. Loss of Personal Belongings
5. Emergency Transport and Hotel Expenses
6. Key Replacement
7. Engine Secure
8. Consumables expenses

Can any of the esteemed members let me know:

1. If there is anything additional I should consider?
2. I wish to keep the car forever and hence would prefer all the items to be covered.
3. Is the amount reasonable?

Note:

• Since Tata AIG was mentioned as a top-quality insurer (as per this post (The 2020 thread: Your preferred car insurance company & why), I've decided to go ahead with them. However, if you have any other opinions, please feel free.
• Car is still in warranty.
• Quote is including GST @ 18%.

[itsmeparvathy9]

I am purchasing a KIA Sonet HTX Diesel AT and the insurance quote provided by the dealer is Rs.45,801/- for the Bundled Policy (1-year Own Damage + 3 Years Third Party) coverage. They say theirs is the best and offers the following benefits:

1. Nil-Depreciation Cover with unlimited Nil Depreciation claims and Consumables
2. Return to Invoice with Road Tax also covered
3. Engine Protection Cover
4. Key and Locks Cover
5. Loss of Belongings Cover
6. Tyre Protection Cover
7. Rodent Bite Cover
8. No Pre-Inspection charges

However, i am able to get a quote from United India Insurance for a bundled policy for just Rs.29,899/- with the following benefits:

1. Nil- Depreciation
2. Return to Invoice
3. Engine Protection Cover
4. Key and Locks Cover
5. Consumables
6. Tyre Protection Cover
7. 24x7 Roadside Assistance

I also have a 35% NCB Retention Letter which I can use to further lower my premium.

I am in a dilemma whether to go with the policy provided by KIA or United India, major reason being my area is prone to Rats as my house is situated in a large plot of land with many fruit trees and palms. United India doesn't provide exclusive Rodent Cover with the policy whereas KIA does. Moreover, all KIA vehicles already come with 3-year 24x7 Roadside Assistance.

Kindly provide your valuable advice on which insurance to go with.

[ghodlur]

Originally Posted by itsmeparvathy9

7. Rodent Bite Cover

Now thats something different. Dealer offering insurance for a cover which most of the Insurance cos do not is something to be explored more. Who is the Insurance co which the dealer the is offering insurance from. Can you get a hand on the T&Cs of the add on cover. If there isnt any, then the dealer is BSing you.

Its a known fact that dealer insurance quote is always a ballooned one and more that the market quote. Try any insurance comparator websites and get a quote, ask the dealer to match it. If he does go with it, if not stick to the market leader Insurance quotes. But preferably buy on the Insurance co official websites.

[itsmeparvathy9]

Originally Posted by ghodlur

Now thats something different. Dealer offering insurance for a cover which most of the Insurance cos do not is something to be explored more. Who is the Insurance co which the dealer the is offering insurance from.

It is told that the Insurance Program will be managed by SMC Insurance Brokers Pvt Ltd. (MISP Model)– Program Insurance Companies: • Bajaj Allianz General Insurance co Ltd • ICICI Lombard General Insurance Co Ltd • Go Digit General Insurance Co Ltd • New India Assurance Co Ltd • Reliance General Insurance Co Ltd.

I have attached the details received as pdf, I think they have had this programme since they started in India in 2019 as this looks to be an old pdf

[ghodlur]

Originally Posted by itsmeparvathy9

It is told that the Insurance Program will be managed by SMC Insurance Brokers Pvt Ltd. (MISP Model)– Program Insurance Companies: • Bajaj Allianz General Insurance co Ltd • ICICI Lombard General Insurance Co Ltd • Go Digit General Insurance Co Ltd • New India Assurance Co Ltd • Reliance General Insurance Co Ltd.

I have attached the details received as pdf, I think they have had this programme since they started in India in 2019 as this looks to be an old pdf

So there is no specific T&Cs for the rodent cover. And doesn't still make sense to pay a premium of 20k above the market price. The comparison with market features is an ad gimmick. In my opinion still the market price can be give an preference. Maybe the Kia owners who have already taken the cover can comment on the special advantages.

Have you checked with the workshop where you would normally service your car with which Insurance cos do they have cashless tie up? Try getting the quotes from those Insurance cos.

[itsmeparvathy9]

Originally Posted by ghodlur

So there is no specific T&Cs for the rodent cover. And doesn't still make sense to pay a premium of 20k above the market price. The comparison with market features is an ad gimmick. In my opinion still the market price can be give an preference. Maybe the Kia owners who have already taken the cover can comment on the special advantages.

Have you checked with the workshop where you would normally service your car with which Insurance cos do they have cashless tie up? Try getting the quotes from those Insurance cos.

Yes, I have checked with them, and they have cashless tie ups with New India, United India and Bajaj Alliance but their quotes are also in and around Rs.40,000/-. I have attached United India quote with and Without NCB being carried forward received earlier for your reference.

Thank You