Automobile Insurance Queries? Ask me

[rjvora_2000]

This thread is 600+ Post's now.

Some information on the current performance of Indian Pvt. Motor Insurer.
(Rank wise data, Rs. in crores, OD premium only, Period April - September 2009)

Bajaj - 482.67
Ril - 475.46
Icici - 427.37
Royal Sundaram - 223.15
Iffco - 222.27
Cholamandalam - 162.22
Tata - 83.66
Hdfc - 78.52
Shriram - 66.71
Future - 63.95
Bharti - 41.51
Universal - 15.04
Reheja - 0.03

Data have been taken from IRDA website.

[Raccoon]

^^^ Sad - the two baddies are pretty close to the top!!

[Holyghost]

Originally Posted by rjvora_2000

This is really very sad that insurance companies website doesn't have much information on this wonderful product. I am sorry buddy even I don't have much information on there product also.

Chola has one same product and that can be taken for first two year's only after that they can shift you to other product in which you can stay for three more year and then they tell you shift to normal motor insurance policy.

Finally I got the quote for 0% depreciation policy from Tata-AIG for my Jan 2008 Safari.
The premium is Rs 26910 for an IDV of 686000. (With 0% depreciation add-on)

Bajaj Allianz (normal Comprehensive Policy)
Premium: Rs 15189 for IDV 675000.

I also checked with Chola. They wont give 0% offer for my car since it is more than 2 yrs.

Is it really worth to spend close to 12K extra for the 0% benefit. Will I really get the mentioned benifit or will they come up with new terms and condition at the time of claim? I am really confused now.

[rjvora_2000]

Originally Posted by Raccoon

^^^ Sad - the two baddies are pretty close to the top!!

Sirji look at the difference of 3rd place and the 4th one that's really very bad. This can happen when they have too many corporate tie-up's.

Originally Posted by Holyghost

Finally I got the quote for 0% depreciation policy from Tata-AIG for my Jan 2008 Safari.
The premium is Rs 26910 for an IDV of 686000. (With 0% depreciation add-on)

Bajaj Allianz (normal Comprehensive Policy)
Premium: Rs 15189 for IDV 675000.

I also checked with Chola. They wont give 0% offer for my car since it is more than 2 yrs.

Is it really worth to spend close to 12K extra for the 0% benefit. Will I really get the mentioned benifit or will they come up with new terms and condition at the time of claim? I am really confused now.

There is nothing to get confused sirji you need to take a call on how much you need to spend on the insurance of the car.

I would have gone for Bajaj and would not have spent 12,000 extra.

[Raccoon]

Originally Posted by rjvora_2000

Sirji look at the difference of 3rd place and the 4th one that's really very bad. This can happen when they have too many corporate tie-up's.

Didn't get that - too many corporate tie ups...?? Yes, the difference between third and forth caught my attention too...

[rjvora_2000]

Originally Posted by Raccoon

Didn't get that - too many corporate tie ups...?? Yes, the difference between third and forth caught my attention too...

The real business of the insurance companies is there in corporates in these days like bank tiepus and every thing. They get lot of dealer business in the tie-ups. Approx only 30% to 40% of the total business is from retail market all the other business comes from corporate tie-ups.

Very big amounts Right!!!

[esteem_lover]

What sort of an agreement exists between the insurer and the Authorised SS ?

[rjvora_2000]

Originally Posted by esteem_lover

What sort of an agreement exists between the insurer and the Authorised SS ?

What do you mean by SS I think it is Service Station.

If they are selling you the insurance policy they earn lot of commission like dealer.

If you are talking of the claim aspect they get business!!! They get lot of client like you and me. Secondly today is the customer driven market if they don't offer you cashless and other service like that you and I will not go to him.

[esteem_lover]

Could you please clarify what kind of forms are signed when we make a claim ? Do we authorise the Insurance company to carry out the repairs at that particular A.S.S ? or is it the prerogative of the Insurance company ?

[rjvora_2000]

Originally Posted by esteem_lover

Could you please clarify what kind of forms are signed when we make a claim ? Do we authorise the Insurance company to carry out the repairs at that particular A.S.S ? or is it the prerogative of the Insurance company ?

I think you sign only one form which is claim form of insurance company. No I don't think we authorized them to start the work but I have seen some of them do take sign on the quotation of repairs also.

Until and unless the final quote which is received from the SS guys that how much is the total amount which is cleared from the insurance company and how much would be our contribution in the total repair for the car - Till you approve this amount he is not suppose to start the work.

[esteem_lover]

Thanks rjvora.

Is there any possibility of putting up any of these forms here ?

[rjvora_2000]

Originally Posted by esteem_lover

Thanks rjvora.

Is there any possibility of putting up any of these forms here ?

Would love to do that. Please give me some time for the same. I need to check all the companies website's for the same.

Be careful on signing the quotes as that means (For them) that you have approved all the payments which you have to make to SS guy's. - Don't get cheated.

Which is your insurance company?

[rjvora_2000]

Dear T-Bhpins,

I could find only 3 claim forms from the websites. If anyone needs more form's please let me know. Cholamandalam's website dose not have the claim form.

Bajaj Motor_Claim_Form.pdf

HDFC Claim Form.pdf

Tata Aig Claim Form.pdf

[rjvora_2000]

Few more claim forms of different insurers.

Icici Motor_Claim_Form.pdf

Iffco Tokio Motor claim form.pdf

Ril motor claim form.pdf

Royal Sundaram Motor-Insurance-Claim-Form.pdf

[esteem_lover]

Thank you buddy. Was very useful.