[ghodlur]

Originally Posted by kavensri

One of my relative is going abroad for a long term assignment (~2 years). During this period, he would park his car in his apartment basement. No one would be driving his car during this period.
His question is, what happens if he does not renew his car insurance during these two years (to save around Rs20000) and then take a fresh insurance after he comes back? Is this even advisable to do?

It is not advisable to keep a car without a valid insurance because once you friend returns and tries to buy Insurance, a lapse of 2 yrs would be noticed by any Insurer and the premium will be quite steep. So better to buy only TPL insurance for 2 years at a stretch or annually and buy the comprehensive one once your friend returns back.

Intimating the Insurance co in advance of the are being non operational would help take care of any claims with the car posting return.

Your friend should try to fire the engine once a while at least to keep the mechanicals working. Plus an intimation to the workshop about the gap in the scheduled maintenance is a must in case the warranty still exists.

[msnarain]

Mods, I had posted this in a different thread, but I realized this is the right thread. Please excuse.

I have a couple of questions about RTI cover in insurance policy.

In case of a total loss,

1. What happens during replacement of a car under RTI cover if there has been a hike in road tax since I bought the original car? Would the insurance company cover the original road tax and expect the customer to pay the balance? Or are they liable to pay the new road tax considering replacement of the car seems to be the deal?
   
2. What happens if there was a facelift and the variant of the model in question is now a few lakhs more expensive? Will replacement still be an option or will they insist on cash settlement of the original invoice value?
   
3. What happens if the ex-showroom price is now hiked for the same variant since you bought the original car?

Thanks in advance!

Going through some unfortunate circumstances and hence these questions without a lot of context. I will post a larger thread shortly as there are tons of other related learnings.

[thanixravindran]

Facing ordeal with HDFC ergo for insurance renewal -

I have a 2 year old car, so got 3 years Third party insurance and 1 year OD coverage during purchase. For second year, renewal was smooth with just OD coverage renewed.

Now this year HDFC ergo sent message to renew but added TP coverage wrongly which they covered already till 2025. Renewal premium is 17K INR including 2K TP coverage. My ordeal started from asking them to remove the wrongly added TP in the renewal quote so that net premium is 15K.

I tried their email help desk and they asked to do EKYC and sent a link that now increased the premium to 29K INR. I got a automated IVR call that tells premium is 34K INR.

Yesterday, I logged into their website and surprisingly found the premium to be 19K with slight increase in add on covers but it still has 2K INR as TP premium.

I got fed up and tried their call centre and finally they verified and agreed to remove TP as it is already covered by them. Also, confirmed it will take 24 hours to update in website. Today, when I visited, the premium is increased to 24K but still has 2K INR included in it. Overall, it is a huge mess to renew with them. So I am now checking with other insurers to renew OD coverage.

[oilmonkey]

Hello, I will be renewing my insurance in a months time. Does anyone have any suggestions on Insurance companies which cover Electric vehicle batteries? Its also known as BEV battery or HV battery as it costs almost 10L (Nexon EV Max) which is almost 50% of the car cost for replacement under accidental damage. (Accidental damage is not covered in standard 8 years warranty on EV battery)

Further, IDV/RTI cannot be invoked unless the battery replacement cost is more than 75% of the IDV which will take couple of years more as this is my second year renewal.

[ghodlur]

Originally Posted by oilmonkey

Hello, I will be renewing my insurance in a months time. Does anyone have any suggestions on Insurance companies which cover Electric vehicle batteries? Its also known as BEV battery or HV battery as it costs almost 10L (Nexon EV Max) which is almost 50% of the car cost for replacement under accidental damage. (Accidental damage is not covered in standard 8 years warranty on EV battery)

Further, IDV/RTI cannot be invoked unless the battery replacement cost is more than 75% of the IDV which will take couple of years more as this is my second year renewal.

Not many Insurance cos are offering EV specific Insurance policy. The below links can help you search and find, once you do so kindly share the same which can help others on the forum.

https://www.businesstoday.in/persona...807-2023-11-23

https://www.businesstoday.in/persona...847-2024-01-04

https://www.bajajallianz.com/motor-i...insurance.html

I had tried reaching out to Bajaj a few times to understand the policy wordings to help a cousin who was to buy the EV but they refused to share the details.

[Sahil]

Is there any insurance provided willing to give Zero Dep for a decade old car?
My renewal is tomorrow and all insurers are refusing to provide zero dep this time due to the car's age.

[Aviator_guy]

Originally Posted by Sahil

Is there any insurance provided willing to give Zero Dep for a decade old car?
My renewal is tomorrow and all insurers are refusing to provide zero dep this time due to the car's age.

Usually insurance companies stop zero dep after 4-5 years of age. That too is applicable when there is no gap in zero dep cover and customer claim history. I highly doubt you will be able to find someone providing zero dep for a decade old car.

[car-dent]

Originally Posted by Sahil

Is there any insurance provided willing to give Zero Dep for a decade old car?
My renewal is tomorrow and all insurers are refusing to provide zero dep this time due to the car's age.

We recently (on 31st dec 23) renewed insurance for our 2014 Grand i10 through Royal Sundaram and got Zero Dep coverage. so you can check with them.

I wasnt able to see that option on online sites but my agent got it done, so you should check with your agent if you can't see this option online.

[Sahil]

Originally Posted by Aviator_guy

Usually insurance companies stop zero dep after 4-5 years of age. That too is applicable when there is no gap in zero dep cover and customer claim history.

True. But with a good history and good agent I have had it all along even with a 65% NCB protection.

Originally Posted by car-dent

We recently (on 31st dec 23) renewed insurance for our 2014 Grand i10 through Royal Sundaram and got Zero Dep coverage. so you can check with them.

Current policy is with RS itself, car is 2013 hence you may have the same issue next year when you renew. Till my 2023 renewal they allowed the zero dep with a lot of push by the agent but now he is unable to push them or any other company.

[Aviator_guy]

Originally Posted by Sahil

True. But with a good history and good agent I have had it all along even with a 65% NCB protection.

Looks like you have been a good driver and able to avoid claims all these years. Going by your track record, you won't miss zero dep cover

[oilmonkey]

Originally Posted by ghodlur

Not many Insurance cos are offering EV specific Insurance policy. The below links can help you search and find, once you do so kindly share the same which can help others on the forum.

https://www.businesstoday.in/persona...807-2023-11-23

https://www.businesstoday.in/persona...847-2024-01-04

https://www.bajajallianz.com/motor-i...insurance.html

I had tried reaching out to Bajaj a few times to understand the policy wordings to help a cousin who was to buy the EV but they refused to share the details.

Thank you for sharing these references. I can only find HDFC Ergo providing Zero Dep battery and motor cover as add-ons with their car policy. None of the other usual well known insurance companies have these add-ons I wonder why as usually these are standard across all insurance companies. I guess if none provide clear information then HDFC Ergo is the only option to go ahead with.

[ghodlur]

Originally Posted by oilmonkey

Thank you for sharing these references. I can only find HDFC Ergo providing Zero Dep battery and motor cover as add-ons with their car policy. None of the other usual well known insurance companies have these add-ons I wonder why as usually these are standard across all insurance companies. I guess if none provide clear information then HDFC Ergo is the only option to go ahead with.

Magma HDI also has a battery specific add on, you can call them to ask for more details.

[saisree]

I have a NCB transfer certificate for 35% NCB on my name. I'm getting my insurance renewed for the second year and the company is already giving me 20% NCB. Should I use this now and make the NCB to 35% this year or I can wait for one more year, do claim if there is any and apply this NCB transfer after the claim. Is it possible?

[Aviator_guy]

Originally Posted by saisree

I have a NCB transfer certificate for 35% NCB on my name. I'm getting my insurance renewed for the second year and the company is already giving me 20% NCB. Should I use this now and make the NCB to 35% this year or I can wait for one more year, do claim if there is any and apply this NCB transfer after the claim. Is it possible?

This sounds weird to me and not sure that's even possible. NCB for next policy depends on whether you made a claim in prior year. If it is yes, then how does old NCB letter stand a chance to be accepted by insurance company, I don't know. In my opinion, you should apply it now and get the benefit while you can. One in hand is better than two in the bush.

[VK Dhanuka]

Hi BHPians, Need some guidance as my car met with accident(no casualty or injury, damage to my car only) and its my first time claiming insurance.

I have Acko Zero dep comprehensive plan. Raised claim and Acko surveyor visited and took photos. Now they have hired investigator Mantasha Enterprises who is demanding me to share personal google timeline and contact details of each person in car when it met accident.
Contact details are personal why would i even share who I was with at time of accident (private information) leave alone their contact numbers? These are private citizens and have no obligation to me or any relation to Acko policy.

Secondly they want to see my Google timeline. Again this is personal and why would I need to share it for claim processing? Have shared area and time window of accident already.

Question is are above information sought mandatory for me to provide and can not sharing result in Acko denying claim?

the only wording in policy related to this topic is quite vague - "Notice shall be given in writing to the Company immediately upon the occurrence of any accidental loss
or damage in the event of any claim and thereafter the insured shall give all such information and assistance as the Company shall require."