[yedukrishnan199]

Originally Posted by Mumbaiker

When I bought my new car in 2023, I had taken 3 years insurance. Out of these, 2 years is comprehensive plan and 1 year is third party insurance. I am getting calls from Honda and Acko to renew the insurance.
Do I need buy insurance again if I still have third party insurance till May'26?

Insurance is mandatorily required to be taken as a 1-year OD + 3-year TP. There are options to go for 3-year OD + 3-year TP, too, but most don't go for it due to the high initial amount to be paid. Some companies offer different options like 2-year OD + 3-year TP too, which is very uncommon; in your case, your TP will be till 2026, while your OD should be renewed.

Getting your OD renewed is always better; otherwise, any damage to your car will require you to pay out of your pocket. even if it is damaged caused by fault of another person, getting third party insurance requires claims through Motor Accident Claims Tribunal which may take months if not years, so an OD cover is always best opted especially considering its a relatively new car.

[Aviator_guy]

Originally Posted by Mumbaiker

When I bought my new car in 2023, I had taken 3 years insurance. Out of these, 2 years is comprehensive plan and 1 year is third party insurance.

Most new car insurance is 3 years third party cover (which is mandatory as per govt) and 1 year own damage cover. Looks like in your case, you have got 2 years own damage cover and 3 years third party cover. (Comprehensive cover = own damage cover + third party cover). Please verify if that's the case.

Originally Posted by Mumbaiker

Do I need buy insurance again if I still have third party insurance till May'26? I am getting calls from Honda and Acko to renew the insurance.

Third party and own damage covers are separate things. Third party cover is mandatory and it's purpose is to provide cover to third party (person and/or property) due to damage caused by you. You must renew it every year after initial 3 years cover.

Own damage cover provides coverage to your own car due to accidents or loss due to theft, fire, flooding etc. This is the cover you use to get the car repaired. It is an optional cover but if you want to claim insurance to repair own car then this is the cover you use.

Companies must be calling you to renew own damage cover since the third party cover is still valid till 2026.

[Pancham]

Guys I got a used Jimny in Oct 2024 from Spinny and its time for renewal. I am facing a few issues now that I have to renew the insurance. Original insurance is from Iffco Tokio and this is my Year 2 renewal:

1. I am told I am not going to get NCB because the insurance is now endorsed in my name since I am the second owner. Is this true?

2. I never take insurance from the dealer - but it seems the first owner got this from Maruti and I am not able to renew it online. Iffco guys could not do it online and they promised a call back - they said its a dealer insurance so they cannot do anything. Now, I reached out to the dealer and the quote is insane. I took out RTI and Engine cover and the quote is still higher than Year 1. Just FYI, the dealer is quoting INR 26k for Iffco and INR 22.3k for SBI life (these are for Jimny Zeta MT). Tata Aig asked me to visit their branch.
My options are:

(i) Wait for Iffco to call me back and get it done through them directly (if they allow)

(ii) Go with the dealer but the premium is too high;

(iii) Visit Tata Aig branch and try and get this done myself.

Overall, I did not know renewing a simple insurance will be this tough.

Given that the insurance was purchased from the dealer, it seems I am tied down to their quotations now which is day light robbery.

Guys! Please let me know if you have any suggestions.

[ghodlur]

Originally Posted by Pancham

I am told I am not going to get NCB because the insurance is now endorsed in my name since I am the second owner. Is this true?

If post purchase the insurance of the vehicle is in your name and updated in Iffco Tokio's record, no need to buy Insurance from either Iffco Tokio or dealer. You can check the online premium prices by inputting the correct applicable IDV and in case of no previous year claim the NCB rate too.

As said if Insurance is in your name, you are eligible to get the NCB for a claim free year.

[yedukrishnan199]

Originally Posted by Pancham

Guys I got a used Jimny in Oct 2024 from Spinny and its time for renewal. I am facing a few issues now that I have to renew the insurance. Original insurance is from Iffco Tokio and this is my Year 2 renewal:

1. I am told I am not going to get NCB because the insurance is now endorsed in my name since I am the second owner. Is this true?

2. I never take insurance from the dealer - but it seems the first owner got this from Maruti and I am not able to renew it online. Iffco guys could not do it online and they promised a call back - they said its a dealer insurance so they cannot do anything. Now, I reached out to the dealer and the quote is insane. I took out RTI and Engine cover and the quote is still higher than Year 1. Just FYI, the dealer is quoting INR 26k for Iffco and INR 22.3k for SBI life (these are for Jimny Zeta MT). Tata Aig asked me to visit their branch.
My options are:

(i) Wait for Iffco to call me back and get it done through them directly (if they allow)

(ii) Go with the dealer but the premium is too high;

(iii) Visit Tata Aig branch and try and get this done myself.

Overall, I did not know renewing a simple insurance will be this tough.

Given that the insurance was purchased from the dealer, it seems I am tied down to their quotations now which is day light robbery.

Guys! Please let me know if you have any suggestions.

As regards NCB, it is for the owner and not for the vehicle. when ownership transferred NCB if any is for the owner, so if you have an NCB certificate from any previous vehicle of yours, you can transfer it and get NCB, same applies for the previous owner of your vehicle too, if he had say 20% NCB on the insurance, he can get it transferred to his new vehicle purchase.

Now, as regards Insurance, if you would specify the make and month of purchase of the vehicle, any claims by the previous owner and registration state, insurance expiry, etc I can help with what is a reasonable premium for your vehicle.

Moreover, I assume the third-party insurance policy has been transferred to your name on purchase right? if not, the quote would be high; else, quotes as low as 15k and higher with all requisite addons are available.

[Pancham]

Originally Posted by ghodlur

If post purchase the insurance of the vehicle is in your name and updated in Iffco Tokio's record, no need to buy Insurance from either Iffco Tokio or dealer. You can check the online premium prices by inputting the correct applicable IDV and in case of no previous year claim the NCB rate too.

As said if Insurance is in your name, you are eligible to get the NCB for a claim free year.

So the insurance was 'endorsed' and is not on my name. It will be transferred to my name once I renew it. I was told for the first year insurance is only endorsed. And no, I dont have any NCB certificated so I am fine with that.

Originally Posted by yedukrishnan199

Now, as regards Insurance, if you would specify the make and month of purchase of the vehicle, any claims by the previous owner and registration state, insurance expiry, etc I can help with what is a reasonable premium for your vehicle.

Moreover, I assume the third-party insurance policy has been transferred to your name on purchase right? if not, the quote would be high; else, quotes as low as 15k and higher with all requisite addons are available.

Let me PM you. Again, the insurance was endorsed and name transfer can only happen on renewal I was told (by Iffco Tokio).

[ghodlur]

Originally Posted by Pancham

So the insurance was 'endorsed' and is not on my name. It will be transferred to my name once I renew it. I was told for the first year insurance is only endorsed. And no, I dont have any NCB certificated so I am fine with that.

There is nothing like endorsement on Insurance. Ideally you should have got the Insurance transfer done post the purchase. Luckily you did not have any claim last year or else the claim would have been rejected.

[Drogonrider]

Hello Fellow members,

I have a doubt on my car insurance claim. I own a Baleno car and today I gave the car for paid service nexa Jayaberi Hyderabad. I have some bumper repair and paint damage at the rear and asked them to claim the insurance and they agreed to it. I came back home after all documentation.

My current policy is set expire on 18 april and the same service center guys was calling me daily for renewal. So today morning before going to the service I did the renewal and got NCB aroubd 650 rupees.

Now the service center guy called me and informed as have renewed the old policy the system is not allowing for claim processing and i have to cancel the new policy or pay without insurance. I asked him give the insurance desk number and spoke to them.

They say I need not cancel the policy instead i have to pay the NCB amount back. When I asked about the approximate amount she mentioned somewhere between 4000 to 6000 which she will enquire and confirm.

Now my query is how much do I need to pay? Is it 650 NCB as per new policy or the amount the lady mentioned?

If i had to pay the amount to whom should I pay the amount? As the new policy is already issued.

BTW the insurance broker is Maruthi Insurance. Old insurance is with Universal Sompoo and new one is with Royal Sundaram.

[self_driven]

Originally Posted by Drogonrider

Now my query is how much do I need to pay? Is it 650 NCB as per new policy or the amount the lady mentioned?.

There is no need to cancel the policy. You will be asked to pay the NCB discount mentioned under premium details in your renewed policy document. The lady probably took a random guess. If it's Rs. 650, you have to pay just that as the policy shall now reflect 0% NCB due to the claim. This payment will be made through the payment link shared by Royal Sundaram on mail/SMS.

[Aviator_guy]

Originally Posted by self_driven

There is no need to cancel the policy. You will be asked to pay the NCB discount mentioned under premium details in your renewed policy document. The lady probably took a random guess. If it's Rs. 650, you have to pay just that as the policy shall now reflect 0% NCB due to the claim. This payment will be made through the payment link shared by Royal Sundaram either on mail/SMS.

This is how ideally it should happen. But it is grey area where premium during next renewal can be bumped up due to claim in current policy period. It is up to the insurance company what premium they would like to offer if there is claim history. That's what is happening in OP's case where they are asking him to pay extra amount of 4k-6k over and above NCB of 650 bucks. It can be negotiated but I won't be surprised if they insist to pay the amount what they are asking.

[vivek.ks]

Hi,

My Octavia's Sixth insurance renewal is due. I currently have a zero depreciation insurance with acko. As it is widely known in the 6th year acko is not extending zero depreciation cover for the car.

Are there any good insurance companies which provide a zero depreciation plan after 5 years ?

[SrkHari]

Hello,


Recently while I was travelling on a highway in my VW Taigun, the AC stopped working, We had a flight to catch on that day so I could not take it to the service centre that day.

Two days later when I took it to the service centre they diagonised the issue to be low refrigerant pressure(as told by the service person). He tried to top up the refrigerant. While topping up, he observed a gas leak from the AC condenser. The technician pointed out immediately that the gas pressure was zero and stopped the AC compressor on Low pressure protection.

Upon further inspection we noticed that the condenser had a dent/damage the size of around 10-12mm. This was probably due to a stone hit or a metal bolt which might have blew past the front grille when driving on the highway. This was when the AC had stopped working, attached a GIF if that is viewable.



I had raised for an insurance claim with United India Insurance as it offered cashless facility through the dealer. There was an online survey conducted by the surveyor appointed from RoadZen. Post survey, the surveyor denied repair approval citing that there was no external impact.


I did call him on the phone and tried to explain the how and what part of the incident. Despite this, he denied the possibility of it occuring.
"Aisaa ho hee nahi saktha hair Sir" (This is impossible) were his exact words. I tried to take help from Policy bazaar since the policy was purchased through them.

There were around 5-10 follow up mails to seek an approval for the repair although it did not help in changing the approval. Finally, the claim got rejected by UIIC based on the surveyor report.

I had also raised the issue with the insurance ombudsman's office in Chennai. This was a whole different kind of disappointment in itself without any fruitful outcome. Read that as "no response from them other than their automated reminder mail once every week".

What are my options in this regard to get the insurance claim reopened and approved? The AC condenser costs close to 11K in itself and add to that another 5-6K of additional labour charges. I paid a premium of 30K for this insurance. Any help in this regard is appreciated.

[self_driven]

Originally Posted by SrkHari

This was probably due to a stone hit or a metal bolt which might have blew past the front grille when driving on the highway. This was when the AC had stopped working, attached a GIF if that is viewable.

Insurance policies generally cover damages resulting from an accident. With no visible impact to the grille, it will be very hard to convince the surveyor to treat this as accidental damage.

Originally Posted by vivek.ks

Are there any good insurance companies which provide a zero depreciation plan after 5 years ?

A lot of insurers offer zero dep cover after 5 years. HDFC, Tata AIG and ICICI Lombard are some well-known companies. Do a quick search on aggregator websites like Policy bazaar you'll find more options.

Originally Posted by Aviator_guy

That's what is happening in OP's case where they are asking him to pay extra amount of 4k-6k over and above NCB of 650 bucks.

I forgot to factor that in. Thanks for pointing out.

[sohamd@1994]

Hi Experts,

I’m seeking your advice on an issue I recently encountered with an insurance claim.

Following an accident that damaged the left side of my vehicle (specifically the left quarter panel and bumper), I initiated a claim with ICICI. While most of the repairs were approved, the following items were excluded:

Wheel Balancing – Rs. 224.79

Wheel Alignment – Rs. 749.30

Washing – Rs. 749.30

Exterior Enrichment – Rs. 2,198.81

NPN Body Consumables – Rs. 499.98

Lamp Assy Front Fog RH – Rs. 9,116.98

The surveyor provided justifications for the exclusions, but I found the explanation for disallowing the right-hand fog lamp (Item 6) to be unsatisfactory. According to him, the Kia service center did not initially report damage to the fog lamp during the first survey.

However, after a lengthy conference call involving the service center, the surveyor, and myself, it was revealed that the damage to the fog lamp was discovered only after the bumper was dismantled. The conversation turned into a blame game between the garage and the surveyor. Eventually, the surveyor agreed to raise a separate request for the fog lamp. A day later, I was informed that although the request had been rejected, ICICI agreed to cover 50% of the cost.

Despite my repeated requests to have the full cost approved—considering the circumstances—the decision remained unchanged. As a result, I am now required to pay a significant amount out of pocket for a situation that was neither my fault nor in my control.

When I handed over my car to the service center, I did so with the understanding that all necessary repairs would be carried out under the scope of the insurance claim.

I would appreciate your guidance on how best to escalate this issue or pursue further action.

Thank you in advance for your help.

[self_driven]

Send emails to the higher-ups explaining your situation in detail. Insurance companies do cover additional damages that are discovered later during the course of repair but getting approval for such damages is a royal pain. Your demands are not unjust, so a positive outcome is likely.

https://www.icicilombard.com/grievance-redressal