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Old 22nd October 2009, 01:27   #511
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Default Swift VDI - Insurance renewal

Team -Need your advice please. My Swift VDI will complete 1 yr next month and I got a call from Maruti asking me to renew the insurance. The car came with National insurance and now they are suggesting me Ifko - Tokio. Below are the deals that I have got, not sure which one to go for, hence request your valuale advice pls. Pls note that I have claimed insurance in the current yr, there goes my NCB and the car is registered under my Dad's name, he is 64 yrs old. The reason why I mention this is, I believe there is a reduction in premium amt for senior ppl, HDFC told me this.

1) From Maruti

Ifco -tokio
IDV= 4.09 Lacs
Premium = Rs 11,700

2) From Policy Bazaar

Ifco -tokio
IDV= 4.06 Lacs
Premium = Rs 10,400

3) From maruti

HDFC
IDV= 4.00 Lacs
Premium = Rs 9,300

I beleive Maruti has a tie up with Ifco -tokio, Royal Sundaram and National insurance only. Not sure, Totally confused.

Please suggest.

Last edited by anandkumargb : 22nd October 2009 at 01:29.
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Old 22nd October 2009, 09:40   #512
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Quote:
Originally Posted by anandkumargb View Post
I beleive Maruti has a tie up with Ifco -tokio, Royal Sundaram and National insurance only. Not sure, Totally confused.
Please suggest.
Go to Maruti Insurance website. You could find the details and also get/renew insurance online- if that works out cheaper. My suggestion would be to stick with Maruti Insurance since it would be hassle free to claim (comp insurance part) damages, if any via MASS.

-BJ
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Old 22nd October 2009, 13:11   #513
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I have to renew car insurance for WagonR Nov 2007. Currently it is insured with Royal Sundaram and there are no claims till now.
Below are the Quotes:
1. From Maruti
Royal Sundaram
IDV: 248500 ncb 25%
Premium 6341
Dealer is Giving free Coupons for 4 services, 1 Wheel balancing & Alignment, 3 Coupons for discount on Labour Charges (10% 1st time, 15% 2nd time, 20% 3rd time)

They are sayin that if i take New India Assurance then also the premium will be the same.

2. Policy bazar
New India Assurance
IDV: 294,340.00 ncb 25%
Premium 6448

Which option to take, i will show the Policy Bazaar quotes to dealer for better rate. Also keeping IDV to last year's (294000) will be better?

I check Policy Bazaar with the Option "Voluntry Excess" by making it 5000, the premium decreased to 5207 with IDV 294340.
Anybody has Idea what is Voluntry Excess ?? and how it affects Policy and also claims.
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Old 22nd October 2009, 13:16   #514
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Quote:
Originally Posted by shabahmad View Post
I check Policy Bazaar with the Option "Voluntry Excess" by making it 5000, the premium decreased to 5207 with IDV 294340.
Anybody has Idea what is Voluntry Excess ?? and how it affects Policy and also claims.
Voluntary Excess is something where you'll not claim anything if total bill is less than or is 5000 & 5000 will be paid from your pocket apart from usual insurance charges if the bill is more than 5000.

In short, AVOID IT.
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Old 22nd October 2009, 16:13   #515
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Quote:
Originally Posted by bj96 View Post
Go to Maruti Insurance website. You could find the details and also get/renew insurance online- if that works out cheaper. My suggestion would be to stick with Maruti Insurance since it would be hassle free to claim (comp insurance part) damages, if any via MASS.

-BJ
Online renewal does not seem to be working but information is available at the link. I don't know if this is true but Maruti insurance seems to be somewhat expensive for the same IDV etc. I received a quote for Rs 8025/- from Bajaj (without the Maruti insurance tie up) but the dealer quoted Rs 10098/- for Maruti Insurance - BA. I remember someone else mentioning a similar example earlier on in this thread - not sure if it was responded.
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Old 22nd October 2009, 16:45   #516
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Quote:
Originally Posted by aghosht View Post
Online renewal does not seem to be working but information is available at the link
Last 3 years out of my 7+ years of WagonR ownership, I renewed it online. Last I did was in 2008 June. I haven't used it after wards as NCB is transferred to Safari, and WagonR currently has only 3rd party insurance. The online experience was pretty hassle free. Their premium may be a bit higher than direct from insurance vendor, but, it was peace of mind that mattered to me for a small price difference. Most insurance vendors make you run from pillar to post if the claim is significant. I hope Maruti Insurance is better in that respect- though I never had to claim any damages from them- hence can't comment on 1st hand experience of claim settlement.

-BJ
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Old 22nd October 2009, 19:04   #517
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I understand that in some countries falling asleep on the wheel and crashing may be cause for rejecting an insurance claim by person falling asleep. I would like to know the situation in India.

1. Does anyone have any experience of a claim being rejected by an insurance company in India due to the reason of falling asleep/ momentarily dozing off?

2. More specifically, can an Indian insurance company reject the claim due to reason that falling asleep is equivalent to driving under influence of drugs/ alcohol - both of these are mentioned in the policy document as cases that insurance company would not be liable for; or for any other reason/

Would be grateful for any experience/ advise.
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Old 22nd October 2009, 19:23   #518
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Quote:
Originally Posted by aghosht View Post

2. More specifically, can an Indian insurance company reject the claim due to reason that falling asleep is equivalent to driving under influence of drugs/ alcohol - both of these are mentioned in the policy document as cases that insurance company would not be liable for; or for any other reason/

Would be grateful for any experience/ advise.
Don't think that they can refuse the claim by saying that dozing off = drugs/alcohol. Unless they can prove ( from the medical/blood reports ) that the person was under the influence of drugs/alcohol.
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Old 22nd October 2009, 20:06   #519
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In that case would it then be fine to mention in the claim form that accident was due to dozing off??
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Old 23rd October 2009, 09:33   #520
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Quote:
Originally Posted by Raccoon View Post
How does go about to get a valuer's report?
It's very simple Ask your insurance guy to do that for you. You might have to pay something if insurance company is not paying for this.
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Old 23rd October 2009, 09:44   #521
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Quote:
Originally Posted by aghosht View Post
I understand that in some countries falling asleep on the wheel and crashing may be cause for rejecting an insurance claim by person falling asleep. I would like to know the situation in India.

1. Does anyone have any experience of a claim being rejected by an insurance company in India due to the reason of falling asleep/ momentarily dozing off?

2. More specifically, can an Indian insurance company reject the claim due to reason that falling asleep is equivalent to driving under influence of drugs/ alcohol - both of these are mentioned in the policy document as cases that insurance company would not be liable for; or for any other reason/

Would be grateful for any experience/ advise.
1. I want to know one thing how insurance company will prove that you were sleeping while driving?

2. If there is no police case or any blood test done, How insurance company will come to know the same?

3. Have you told them?
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Old 23rd October 2009, 12:37   #522
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Default Need help

Hi All,
My Dzire VDi would be completing a year in Dec 2009. Following is the quotes that I recvd:

1. Maruti Insurance - in tie-up with New Inda Assurance provided by the dealer - Approx 11000 - with one free service coupon.
I understand that the coupon could save me approx Rs 500 during my paid service, hence finally this would come down to 10,500.
2. Got an online quote from Baja Allianz for approx 9900.

I am trying for some additional freebies from the dealer but they are saying that they cant give me anything additional to the one free service coupon. .
Any idea on what all freebies are provided by Maruti dealers on renewal in Mumbai?

Kindly advise.

Last edited by f1fan : 23rd October 2009 at 12:39.
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Old 23rd October 2009, 13:13   #523
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Quote:
Originally Posted by f1fan View Post
I am trying for some additional freebies from the dealer but they are saying that they cant give me anything additional to the one free service coupon. .
Any idea on what all freebies are provided by Maruti dealers on renewal in Mumbai?

Kindly advise.
What do you need a freebies or good service at the time of claim? As you cant have both at the same time.

Go for Bajaj as they have given you a good quote and will give you better service in case of claim.
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Old 23rd October 2009, 13:41   #524
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Quote:
Originally Posted by rjvora_2000 View Post
What do you need a freebies or good service at the time of claim? As you cant have both at the same time.

Go for Bajaj as they have given you a good quote and will give you better service in case of claim.
Sorry forgot to mention one piece here. Bajaj claims to have cashless facility with all major MASS in Mumbai including the one that I give me car to, but this MASS that I am talking about is refuting the claim saying that they dont have any cashless facility with Bajaj wherease the Maruti Insurance is complete cashless in any MASS in India.
Hence a small concern about that piece from Bajaj. Bajaj prices are better but Maruti Insurance would have more peace of mind. Dont know whom to believe and what to do.

Last edited by f1fan : 23rd October 2009 at 13:42.
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Old 24th October 2009, 17:19   #525
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Quote:
Originally Posted by rjvora_2000 View Post
No sirji I don't think so. If there is a total loss claim tomorrow insurance company will not pay higher value.

If you are still keeping the higher value I will advice you to go for valuer's report along with the insurance. Only that can help you in case of claim.
I just dug out the details of my car insurance with Royal Sundaram (Maruti Insurance). It says -

Quote:
IDV SHALL BE TREATED AS THE "Market Value" throughout the policy period without any further depreciation for the purpose of Total Loss (TL)/Constructive Total Loss (CTL) claims.
The insured vehicle will be treated as a CTL if the aggregate cost of the retrieval and/or repair of the vehicle subject to terms and conditions of the policy, exceeds 75% of the IDV of the Vehicle.
Now this clearly contradicts what some people here have stated... that the insurer will pay the lower value of the IDV and the Market Value. Or am I missing something?

Does the above Total Loss include theft of the vehicle?
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