[Rohit_Quad]

Is Policy Bazar down or something? I have tried renewing my policy from them for 3 different cars over the past 2 months, all 3 failed to be issued, with out any delay or requirement from our side. Each time the payment goes through, they/ the app asks for the documents that are needed, we upload, then they call the next day and ask us to send the documents over whats app or email and then the waiting game. It just says, 'technical error' on their side and that they are talking to the insurance company. We had to cancel the policy after waiting roughly one week for our 3GT and after 10 days for our XUV 700. All policies have more than 15-20 days to expire and no claims in the past year. We had to buy the insurances for both of those cars from the banks directly, which was actually pain free. Willing to still give PB a chance, as i have been buying from them since the last 6-7 years, I bought a policy for my Virtus this week, and behold, the exact same nonsense. Every day a new guy from PB calls, tell us the same thing, that they have escalated and put my issue on high priority, etc. The first policy for 3GT was bought on the PB desktop website. The XUV 700 policy was bought on the PB mobile site on my S23 Ultra. So for the Virtus, I installed the PB app (which I hate doing), but still did, hoping something will change this time. Is anyone else facing this issue with PB?

[Rohit_Quad]

Update - Just spoke to the agent and they informed me that due to some technical error, they are unable to issue the policy. I asked them to cancel the policy for this one as well. What are the odds, that for 3 different cars, bought by using 3 different accounts/ numbers/ registered persons, for 3 different insurers, the same 'technical issue' crop up? The culprit can only be Policy Bazar. Me being technically sound, and having the ability to see through such BS, took at least 7 days per policy to realise they, are playing games. They initially say that they are doing their best, blah blah and then tell you that the insurer you choose cannot issue and ask us if we want to change the insurer to a more expensive one, since they already have our money. I refused all 3 times and asked for a refund. So the only thing I would suggest is to avoid Policy Bazar and buy directly from the insurance provider. I had a good run with them buying over 20-25 policies over the last 6-7 years. I guess they lost the game.

[graaja]

Hi All,

In July, I had bought a Toyota Fortuner, for which the insurance is with ICICI Lombard. I had sold my BMW 3GT which also had an ICICI policy and got the NCB certificate issued for that policy after transferring the insurance to the new owner.

I then submitted the NCB certificate to the insurance department in Toyota showroom to apply the NCB to the Fortuner's policy and get a prorated refund of the premium (I had got a similar refund when I transferred the NCB from the Jetta to the BMW 6 years back).

It has been more than 2 months since I submitted the NCB certificate to the dealer. I have not got the refund or the new policy with NCB updated. The dealer says ICICI is creating the delays.

What is the next step for me? Should I wait for the dealer to resolve this with ICICI or should I take any other steps like directly writing to ICICI, or raising a grievance?

Thanks in advance for all the inputs and guidance.

[ghodlur]

Originally Posted by graaja

What is the next step for me? Should I wait for the dealer to resolve this with ICICI or should I take any other steps like directly writing to ICICI, or raising a grievance?

You should write to ICICI detailing the refund issue and share the policy details. If you dont get a response within a week, then approach the Insurance Ombudsman. If nothing works then raise a complaint on the Bima Bharosa portal.

Ideally since the Insurance co for old and new car is the same, you should have asked for the upfront NCB discount in the new car during the insurance purchase. If the insurance was from dealer, they would not bother to do this and may have suggested you to get the refund later. Just ensure that ICICI does not play tricks by suggesting to claim the NCB discount during next renewal coz the NCB you would eligible was for the new car IDV and not for the first year depreciated IDV.

[graaja]

Originally Posted by ghodlur

You should write to ICICI detailing the refund issue and share the policy details. If you dont get a response within a week, then approach the Insurance Ombudsman. If nothing works then raise a complaint on the Bima Bharosa portal.

Thanks a lot for the detailed response. I will immediately write a mail to ICICI on this.

[bridgekids88]

Hi All,
I am purchasing a new Seltos GTX Plus and the delivery is next week. I am a bit torn about the car insurance as I do not have much idea on it. I have few queries. If anyone can answer them it would be great.

1) I am told that the IDV value of the insurance can only be 95% of the ex-showroom value but in TATA AIG insurance app I can set the IDV to a higher value(even higher than the ex-showroom price). Is that an error? Is 95% of ex-showroom value the ideal IDV value?

2) I have decided to go for these add-ons - RTI, Engine protection, Key replacement, Zero dep, Tyre Protection, Consumables. Is this fine? Any other add-on I should consider or remove from this?

3) I am getting the insurance for almost the same value (maybe with a difference of 1-2k) from the Kia showroom (Reliance General Insurance) and TATA AIG. Which will be the better choice to go with?

Thanks in advance.

[graaja]

Originally Posted by ghodlur

You should write to ICICI detailing the refund issue and share the policy details. If you dont get a response within a week, then approach the Insurance Ombudsman. If nothing works then raise a complaint on the Bima Bharosa portal.

Update: I wrote directly to ICICI insurance support mail, and within 2 days, my account got credited with the refund amount for the NCB. I am yet to receive the updated policy. But I think that will happen too.

Either the dealer's insurance department was not handling this correctly, or the insurance company acts on direct customer mail rather than through the dealer.

Thanks a lot once again for the guidance

[self_driven]

Originally Posted by bridgekids88

1) I am told that the IDV value of the insurance can only be 95% of the ex-showroom value but in TATA AIG insurance app I can set the IDV to a higher value(even higher than the ex-showroom price). Is that an error? Is 95% of ex-showroom value the ideal IDV value?

Probably a glitch. As per IRDAI guidelines, cars upto 6 months old attract a depreciation of 5%. Thus, IDV has to be set at 95% of ex-showroom price.

2) I have decided to go for these add-ons - RTI, Engine protection, Key replacement, Zero dep, Tyre Protection, Consumables. Is this fine? Any other add-on I should consider or remove from this?

Looks good.

3) I am getting the insurance for almost the same value (maybe with a difference of 1-2k) from the Kia showroom (Reliance General Insurance) and TATA AIG. Which will be the better choice to go with?

Both are decent companies, go with dealer-provided insurance for smoother claims.

[bdutta]

Folks, if I have DL (Delhi) registered car, not yet formally transferred to another state, but being used (for now) in another state, and it is time for insurance renewal, are there some pros/cons of renewing with address being the state in which is predominantly being used (i.e. not Delhi) ?

Any caveats or gotchas to keep in mind ?

Thanks in anticipation.

[ghodlur]

Originally Posted by bdutta

Folks, if I have DL (Delhi) registered car, not yet formally transferred to another state, but being used (for now) in another state, and it is time for insurance renewal, are there some pros/cons of renewing with address being the state in which is predominantly being used (i.e. not Delhi) ?

Any caveats or gotchas to keep in mind ?

Thanks in anticipation.

Insurance Policy picks up the address registered with RC, your mailing address can be different which needs to be informed to the Insurance co.

[TSI_FTW]

I am getting a scooter for which I am opting for a loan from Bajaj. They are charging Loan Processing fees @ 3% of the Loan amount that is approximately around Rs. 3000. They are saying it includes personal insurance as well. I am trying to opt out of the personal insurance. Is it possible to do so? Has anyone got a loan for which there was such a clause?

[ghodlur]

Originally Posted by TSI_FTW

I am getting a scooter for which I am opting for a loan from Bajaj. They are charging Loan Processing fees @ 3% of the Loan amount that is approximately around Rs. 3000. They are saying it includes personal insurance as well. I am trying to opt out of the personal insurance. Is it possible to do so? Has anyone got a loan for which there was such a clause?

They must be referring to the Personal Accident Insurance which may come bundled with the loan. If you already have a PA insurance, they you can refuse this. If the PA insurance is being offered without any additional expense, you can take it.

[sj87]

Hi all,
I had purchased a car in last week of Dec 2023 and got it registered in Jan 2024. My first year's insurance was from Acko. This time I purchased the insurance online from TATA AIG, a month before the expiry and immediately I received a policy document for the same. But in the document the date of registration was incorrect(31st Dec 2023). I reported this to their customer support mail with RC details and was assured that the issue will be resolved within 2 days. Six days passed and still I didn't hear anything from them so I mailed them again then I received a document bearing policy endorsement where the correct registration date of the vehicle is mentioned under endorsement reason as correction of vehicle particulars.

My doubts are..
1. Is it enough to have an endorsement document where the vehicle registration date is corrected or I have to push them for correction in the policy document itself? In the mail it was mentioned that I can see correction in the policy at the time of renewal.

2. Why would they mention wrong date of registration in the policy? There was no option to enter the registration date on their online portal while buying the policy neither there was any option to verify the same. I assume that they fetch vehicle particulars details from the registration number itself.

3. Is it one of their tactics to mention some wrong details in the document so that claims can be denied citing the same or am I being paranoid?

Would like to get suggestions/opinions from bhpians.

Thanks in advance.

[Aviator_guy]

Originally Posted by sj87

I received a document bearing policy endorsement where the correct registration date of the vehicle is mentioned under endorsement reason as correction of vehicle particulars.

My doubts are..
1. Is it enough to have an endorsement document where the vehicle registration date is corrected or I have to push them for correction in the policy document itself? In the mail it was mentioned that I can see correction in the policy at the time of renewal.

2. Why would they mention wrong date of registration in the policy?

1. Any edit or modification to the policy is usually in the form of endorsement so I don't think it should be an issue. I had updated my car RC number (original policy was issued on chassis number as it was new car) and it was done via endorsement. I didn't have any issue during renewal.

2. What was the date of registration on Acko policy? This is one reason I could think of, as new car insurance is purchased before registration. It may happen that they had put a tentative date on Acko policy which carried to Tata during renewal.

[thanixravindran]

All - A general query - Which insurance companies are offering Return To Invoice Add on cover after initial 3 years?