![]() | #601 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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![]() Last edited by rjvora_2000 : 10th November 2009 at 17:10. | |
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![]() | #602 |
BHPian Join Date: Feb 2005 Location: Bangalore
Posts: 37
Thanked: 3 Times
| ![]() Now this is where I am confused. IDV as per my understanding is the value of the car I would get when there is total loss. If some insurance company is ready to give me more (on total loss) for a slight higher premium, shouldn't I consider it? And how come IDVs are different for different insurance companies? If I ask for quote for lower IDV, I am sure the premium will be lower, but won't the purpose of taking the insurance is defeated in the first place? Or is the IDV low, because it is Fiat car ![]() |
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![]() | #603 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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If you sell your car in the market today what will be the amount which you will be getting in the market? - That is the value on which the insurance has to be taken. ![]() Normally you have to reduce the car value every year by 10% to 20% from last year. - This is the best way to calculate the IDV. ![]() | |
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![]() | #604 |
Senior - BHPian ![]() | ![]() thanks a lot RJ, will keep the documents ready. will it be okay if i go to the RTO myself and get the intimation report or shall i hand over that job to some agent? is it a painful process? |
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![]() | #605 | ||
Senior - BHPian ![]() Join Date: Jan 2008 Location: Poona
Posts: 1,850
Thanked: 111 Times
Infractions: 0/2 (9) | ![]() Quote:
Whats more, RS seem to really funny... called them three times to get a quote directly (instead of going thru MASS, like I did last time)... and three times they said they would call me back and did not! I'v given up on them. On the other hand the MASS keeps calling me to ask if they can send someone to renew the current policy... Quote:
Even for a car, the resale value would vary for cars made in the same year, depending on their condition, maintenance, appearance, etc., etc... so who will judge the right value? | ||
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![]() | #606 | |
BHPian Join Date: Feb 2005 Location: Bangalore
Posts: 37
Thanked: 3 Times
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Suppose I have declared the value of the car as say 190k, upon total loss will the insurance company pay 190k or will their stand be - Palio has a low resale value, we will pay only 120k? I am asking this just to understand how this works. | |
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![]() | #607 | ||
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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Quote:
1. Ask RS Maruti to give you this in writing, which they will not as I told the meaning of IDV in my last reply. 2. Insurance company and dealers have the fix chart but if you tell them to give quote on different figure they have to give you the same. 3. Lack of infrastructure in the company. 4. Hungry for business. 5. It's not possible to fix the value sirji as the difference between good driver and the bad driver will always be there. Same make, model, Y.O.M., Type car also can not have same value after three years as the condition of that car will be different from each other. 6. There are valuer's in the market who can do that but they charge lot of money and does there job. Still I would say that it's very easy please don't complicate this job of calculating the IDV. Reduce the premium by 10% to 20% every year. If you have bought the secondhand car then how much you have paid to the seller should be the IDV of the car. ![]() | ||
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![]() | #608 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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![]() | #609 |
BHPian Join Date: Jan 2005 Location: Kanjirapally/CA
Posts: 39
Thanked: 22 Times
| ![]() My ford ikon is celebrating his 5th b day next month.my current insurance is from Oriental insurance and im having no claim bonus .If i transfer my insurance to reliance and can i get my no claim bonus for the current year.Experts please help me |
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![]() | #610 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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Ncb is transferable if you change the insurance company. | |
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![]() | #612 | |
BHPian Join Date: Nov 2009 Location: Mumbai
Posts: 34
Thanked: 0 Times
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---------- Booked my i20 Asta 1.2 Berry Red | |
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![]() | #613 |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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![]() | #614 |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
| ![]() 13. Welcome to Future Generali India General Insurance Company 14. Welcome to Universal Sompo 15. Shriram General Insurance 16. Bharti AXA General Insurance All this insurance companies deals in motor insurance in India. I hope this link's will be helpful to all my friends on T-Bhp. There are few more general insurance companies also but they are not doing motor insurance so I have not posted there link here. Thank you guys for calling and talking to me on my cell, as always I will be happy to help all of you but request you to post me your queries on this website so that lot of other people also can benefit out of that. Just an info : - We crossed 550 replies on this thread and we are nearing to finish one year on this month end on 27th. I hope all of you are enjoying being here. ![]() |
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![]() | #615 |
BHPian ![]() | ![]() Need some help here. I have booked a Ritz Zxi and dealer is quoting 139xx/- for insurance from Maruti Insurance (Royal Sundaram actually). Bajaj allianz is quoting 115xx/- on policybazar.com Should I get the insurance from outside? How do I find out what all things are covered in insurance? Dealer says, you won't get cashless service if you take insurance from outside. |
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