[rjvora_2000]

Originally Posted by nishantgandhi

Some additional points that I heard from the marketing call:
1. Since I have been a customer with TATA AIG for over 2 years, they are providing some additional benefits:
a. If there is a breakdown/accident outside Mumbai limits, towing charges to the nearest service center, hotel stay for 1 night and driver's conveyance from accident spot to home are reimbursable upto Rs 10k SI
b. If any key gets lost, I can claim for the entire lockset to be replaced upto SI 25k
(What does SI mean in the above 2 scenarios?)
I have asked him to email me these benefits so that I have proof of the same.
However, he mentioned that in case of theft, claim would only be settled if I produce ALL 3 ORIGINAL KEYS.

Is that true?

That's a rule to submit all the three key's but if you don't have them then you have to inform them in writing to them and keep the acknowledgement with you. Even if you don't do this right now and do it when there is a loss that's ok. For such a small reason your claim will not be rejected.

Benefit which is offered to you is offered to everyone as it's there new product.

Originally Posted by Raccoon

Now this has been bugging me since sometime. Issue is that I lost one of my new bike's keys (Hero Honda gives only 2 keys) sometime last year. So now I only have one original key. I have been repeatedly trying to get the Hero Honda dealer to get me an original duplicate key. I had to take it right upto the top guy at the dealership... because everybody in the lower rungs said they had no such facility and I should just get a duplicate made at any local keymaker (which I am not ready to do). Now I'v been told that the company sends blank keys and the dealership will have to get it "cut" to make the duplicate. Its quite possible that they will do it at some local key maker.

Now the issue is, in case my bike is stolen, I only have 1 original key. I don't know if/when I can get the duplicate original key from the dealer or whether it will even look like an original key. In this scenario, would my claim stand?

Lastly, referring to the above post, are emails even considered to be "proof"??

I hope I have answered your query in the above reply.

Originally Posted by sushantr5

My Policy renewal is due in January 2010. Right now I have ICICI Lombard Motor Insurance. I had a claim once so no NCB. So what do you suggest, shall I stick to ICICI for next policy term or Shall I switch to new Insurance Company? In second case please suggest me best Insurance company.

Bajaj is doing good and Cholamandalam's new product look's good to me. You have to choose that insurance company which will give you cashless where you service your car regularly. Please check with your service station guy which all insurance company he has tie-up with.

[Raccoon]

Originally Posted by rjvora_2000

That's a rule to submit all the three key's but if you don't have them then you have to inform them in writing to them and keep the acknowledgement with you. Even if you don't do this right now and do it when there is a loss that's ok. For such a small reason your claim will not be rejected.

So one should send a registered post/courier with a letter informing them that you have only one key, and keep the acknowledgement? And I guess one would need to do this everytime one changes the insurer...??

[rjvora_2000]

Originally Posted by Raccoon

So one should send a registered post/courier with a letter informing them that you have only one key, and keep the acknowledgement? And I guess one would need to do this everytime one changes the insurer...??

Since its your bike so let me tell you one thing don't change your insurer every now and then.

I had my bike which was stolen three year's ago and Like you I also had only one key with me and I wrote a letter to insurance company saying the same and they accepted my letter and settled my claim without any hassle to me.

[Latheesh]

Yesterday my 2 months old Spark was hit by a Tata Ace at rear right corner damaging the body and rear bumper. I am planning to go for a repair at dealer's repair shop and claim insurance. I read about NCB and am in a confused state. Whether to claim insurance or pay from my pocket?

To decide that I need to know what is the % insurance premium NCB is?

for example repair cost is 5K, should I pay from my pocket or claim insurance?
If it is 8K what to do? Please help

[aka_iitd]

Originally Posted by Latheesh

Yesterday my 2 months old Spark was hit by a Tata Ace at rear right corner damaging the body and rear bumper. I am planning to go for a repair at dealer's repair shop and claim insurance. I read about NCB and am in a confused state. Whether to claim insurance or pay from my pocket?

To decide that I need to know what is the % insurance premium NCB is?

for example repair cost is 5K, should I pay from my pocket or claim insurance?
If it is 8K what to do? Please help

Check with dealer about the repair cost if you claim or not. There is a diff of almost 30 to 40%
Regarding NCB you will loose 20% so for spark roughly you will be at a loss between 2.5 to 3.5K depending on the insurance company
Also you need to shell out 500/1K bucks i guess as a compulsory deduction
If they change the bumper you stand to loose 50% as plastic parts are covered 50%. Again depending upon insurance company. You can opt for bumper painting rather than replacement as dealer always want replacement
Check all combination and see which one is better
If repair cost is roughly more than 10K better to go for claiming insurance but check what they quote without insurance to decide

[nishantgandhi]

Originally Posted by nishantgandhi

Dear Rupesh (and other well informed members),

I needed some advice as my car insurance is now due for renewal. Details are as follows:

1. Car - Hyundai Getz 1.3 GL
2. Manufacturing (and Registration) date - Nov 2004
3. I'm the 2nd owner, having got the insurance transferred from TATA AIG in Feb 2008 (when I bought the car)
4. Last IDV Rs 261,387 and premium paid Rs 8,661

In Nov 2008, the renewal came up but I wasnt eligible for a NCB. Now in Nov 2009, I am eligible for a 20% NCB (right?) since I did not claim last year.

My questions:
1. What should be the rate of depreciation charged this year? The call center guy told me the yearly dep. slab runs like this -> 5%-10%-15%-20%-25%.

Hence this year it shall be 25%

2. What can be my bargaining range if I want a higher IDV/lesser depreciation.

(Also, is it advisable to do so?)

3. I plan to go for a claim for an accident that recently happened. Is there a window period (post the renewal date) till which I have to hold on for a claim?

Thanks in advance!
Nishant

So I received the renewal quote today and it states the following:
1. IDV Rs 209,109.6 (which is 20% less than last year's IDV).

Should it not be 10% less than previous year? (The car turns 5 year old this year). I am willing to pay a higher premium, but do not wish to take that much hit on the IDV.

However, my insurance agent says this is as per IRDA norms. Could someone please clarify?

2. The add-ons sheet is attached. Whatever benefits that I had mentioned in my earlier post have been given in writing.

[aka_iitd]

Originally Posted by nishantgandhi

So I received the renewal quote today and it states the following:
1. IDV Rs 209,109.6 (which is 20% less than last year's IDV).
Should it not be 10% less than previous year? (The car turns 5 year old this year). I am willing to pay a higher premium, but do not wish to take that much hit on the IDV.
However, my insurance agent says this is as per IRDA norms. Could someone please clarify?

I guess 20% for a 5 year old car is OK
IDV does not matter if you are trying to sell your car. It may matter then you claim for total loss ie in case of theft/scrap state
Rupeshji/other members can throw more light on this

[rjvora_2000]

Originally Posted by Latheesh

Yesterday my 2 months old Spark was hit by a Tata Ace at rear right corner damaging the body and rear bumper. I am planning to go for a repair at dealer's repair shop and claim insurance. I read about NCB and am in a confused state. Whether to claim insurance or pay from my pocket?

To decide that I need to know what is the % insurance premium NCB is?

for example repair cost is 5K, should I pay from my pocket or claim insurance?
If it is 8K what to do? Please help

Body + Bumper + Tail light (I think) How much is the quote for repair you have received?

That is important.

Originally Posted by nishantgandhi

However, my insurance agent says this is as per IRDA norms. Could someone please clarify?

You can go for 10% Dep. also. Ask your agent to give this in writing, I am sure that will not come, as it do not exist in the textbook of insurance.

[Raccoon]

Originally Posted by rjvora_2000

Since its your bike so let me tell you one thing don't change your insurer every now and then.

I had my bike which was stolen three year's ago and Like you I also had only one key with me and I wrote a letter to insurance company saying the same and they accepted my letter and settled my claim without any hassle to me.

Oh!? But whats the issue if I change insurers other than having to intimate about the key thingy? I'd tend to change if I get lower quite/better service/something pisses me off...

Its good they did not make an issue about the key. But lesser companies might choose to make an issue. Idea is not to give them excuses to defer payment...

[rjvora_2000]

Originally Posted by Raccoon

Oh!? But whats the issue if I change insurers other than having to intimate about the key thingy? I'd tend to change if I get lower quite/better service/something pisses me off...

Its good they did not make an issue about the key. But lesser companies might choose to make an issue. Idea is not to give them excuses to defer payment...

There one space in the proposal from where they ask us any additional information related to proposal. - You can write there.

Otherwise you will have to inform each insurance company about the key's if you change the insurer.

[Raccoon]

^^^ Cool, thanks for that info. Will make it a point to mention it there.

[Schnellster]

I have a 6 year old wagon R, Previous year premium was 3500. I have to renew my insurance on 12th november 09 and I have done no claim for the past 4 years. The new insurance premium I got is 3200 from the same bajaj allianz. I got damage on the front and back bonnet last week which needs denting and painting.
Should I claim insurance on the current policy and then renew the policy after claiming insurance? Will the new insurance after claim be more than 3500?
OR
Should I first renew the insurance and then claim on the current insurance before 12th november or claim it on the new insurance after 12th november?
The current IDV is 1,41,000 and the new IDV is 1,15,000

[rjvora_2000]

Originally Posted by Schnellster

I have a 6 year old wagon R, Previous year premium was 3500. I have to renew my insurance on 12th november 09 and I have done no claim for the past 4 years. The new insurance premium I got is 3200 from the same bajaj allianz. I got damage on the front and back bonnet last week which needs denting and painting.
Should I claim insurance on the current policy and then renew the policy after claiming insurance? Will the new insurance after claim be more than 3500?
OR
Should I first renew the insurance and then claim on the current insurance before 12th november or claim it on the new insurance after 12th november?
The current IDV is 1,41,000 and the new IDV is 1,15,000

Please inform two things,

One what is the current % of NCB? I think it should be 35% current policy and 45% after renewal. If you don't claim.

What would be the approx cost of the repairs if you do it through local or authorized showroom?

[Schnellster]

Yes, the current one is 35% and the cost of repairs including 2 tail lamp setups, back door, back bumper, front bonet and front bumper is close to 15k without insurance claim.

[rjvora_2000]

Originally Posted by Schnellster

Yes, the current one is 35% and the cost of repairs including 2 tail lamp setups, back door, back bumper, front bonet and front bumper is close to 15k without insurance claim.

You should claim, as you will not be saving the premium of Rs. 15,000/-
Claim after renewal.