![]() | #736 |
Senior - BHPian ![]() Join Date: Jan 2008 Location: Poona
Posts: 1,850
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It is dicy! If you decide to get it at non-authorised places, then make doubly sure what paint the use, the facilities they have, including a paint booth, previous work, etc. I have not had a good experience with such places for my Maruti. But then even the paint job at the MASS was not upto factory standards; but definitely much better than the non-authorised garage. |
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![]() | #737 |
BHPian Join Date: Dec 2009 Location: MAXIMUM CITY - BOMBAY
Posts: 86
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| ![]() Can someone explain the term "Voluntary Excess" mentioned in insurance policies ?? Is it good or bad to have them in a policy ?? |
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![]() | #738 | |
Senior - BHPian ![]() | ![]() Quote:
Excess as you know is the amount that is deducted from the total claim amount payable at the time of settlement of insurance claims. Based on the class of vehicles, there is certain fixed excess/deductible on all comprehensive insurance policies. For example let us say for a Private Car of less than 1000 cc the deductible is INR 1,000.00. This is the Compulsory Deductible/Excess This meanse that you will get any compensation from insurance policy only if your total claim is in excess of INR 1,000.00 or you can make a claim only if your estimated loss is in excess of INR 1,000.00 Now when you buy the insurance for such a vehicle you can make an offer (Volunteer) to the Insurance company that (for Example) you will claim only for such losses where the actuals expences exceed INR 2,500.00. In other words you won't make a claim if the claim/estimate is below INR 2,500.00. This is the Voluntary deductible/Excess In this case the Voluntary Deductible is INR 1,500.00 (2,500 - 1,000) As per Indian Motor Tariff there are certain discounts (from the Own Damage Premium) available (at least in the days of Nationalised companies only) for the Voluntary Discounts. Depending on your finacial resources you can decide the Voluntary Excess based on some table fixed as a percentage of a claim, usually. You can not really say if it is good to have the Voluntary Excess on the policy or not. If you have VE you pay less premium but will be out of pocket more if you have a claim. Hope you are confused enough now ![]() Best Regards & Drive/Ride Safe Ram | |
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![]() | #739 |
Senior - BHPian ![]() | ![]() Had a query. I had a small accident about a month back in which the front bumper was damaged. I got it replaced through insurance. The claim process was not Cashless so i had to pay from my own pocket and now i have claimed the money from the insurance company. Now my AC stopped working and when i took it to the service center, the service guys diagnosed that in the initial accident, due to the impact, some iron piece hit the condenser assembly and now the gas has leaked. The condenser assembly costs some 26000/-. Can i claim it from insurance adding it to the initial claim ? |
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![]() | #740 |
BHPian Join Date: Oct 2008 Location: New Delhi
Posts: 42
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| ![]() My total cost for replace ment of bumper is coming around 5Kish is it still advisable to spend that amount and save on insurance no claim? and Less premium for next year? |
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![]() | #741 | |||
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
| ![]() Quote:
Quote:
Even one day old car can suffer an accident and the claim as well. Quote:
Normally after the repair you must have signed a document which is called as 'satisfaction voucher' which means you are satisfied from the claim and the repairs. The thing which you are explaining here is an ignorance of the dealer/repair center I don't think insurance will pay this amount now, But you can still give a trial. | |||
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![]() | #742 |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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![]() | #743 |
BHPian ![]() | ![]() I am posting on behalf of my friend, whose i10 car met with an accident and holding insurance from United India. Message from my friend copied below: As part of settling the claim insurance, United India deducted the following charges from the total amount to be paid by the company Salvage : 900 Rs TDS (2%) : 452 Rs Could you let me know, if it is correct to deduct those charges ? I am more curious to know, whether the company is correct to charge this to me (rather than the money, I am losing out) Insurance company doesn't want to dispose the scrap themselves, rather they are charging the salvage. |
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![]() | #744 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
| ![]() Quote:
SALVAGE can not be deducted from the claim please ask them to show it in the policy copy where it is written? TDS I am seeing this for the first time you friend is a person who is paying the money how they can charge the TDS which means Tax Deducted at Source. ![]() | |
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![]() | #745 |
BHPian Join Date: Oct 2009 Location: Bangalore
Posts: 81
Thanked: Once
| ![]() Hi Rjvora I recently bought a second hand maruti car which has Royal Sundaram comprehensive insurance, i have given required documents to maruti branch to transfer the insurance on to my name, maruti people say it takes 3 or 4 working days to get the name transferreed on to my name and i have received an acknowlegement for the NCB amount they charged me for tansfer. I am planning to travel with this car during my vacation in two days , please advice if this is safe to take the vehicle along with me as officially insurance is not yet transferred on to my name yet. |
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![]() | #746 |
BHPian ![]() | ![]() ![]() Could I know what are the rules regarding salvage of damaged parts? I know the insurance company must confiscate it from the service station and destroy them. How is this taken care of and how do different insurance companies deal with it? |
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![]() | #747 | ||
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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![]() | #748 |
BHPian Join Date: Dec 2009 Location: MAXIMUM CITY - BOMBAY
Posts: 86
Thanked: 0 Times
| ![]() What exactly does "Salvage Charges" MEAN ? Are they included in the policy amount or are they deducted during claim ? And how can i come to know whteher Salvage Charges are pasrt of the policy ?? |
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![]() | #749 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
| ![]() Quote:
Insurance companies deduct some amount in claim saying that Salvage will be deducted in the claim of metal parts and plastic parts which is wrong from insurance company. It is not written in the policy and that's why I am saying fight with the company if they deduct this amount. | |
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![]() | #750 |
Senior - BHPian ![]() Join Date: Jan 2008 Location: Poona
Posts: 1,850
Thanked: 111 Times
Infractions: 0/2 (9) | ![]() Bharati AXA just told me that in case of total loss/theft, the amount they will pay is IDV - 10 to 15% ! ![]() I asked under what name is this deducted. He said depreciation! This does not make sensel, as the IDV is itself calculated after depreciation. Do other companies also do this? The premium quoted (for one of my bikes) is also higher than Bajaj and he wasn't willing to negotiate. |
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