![]() | #871 | |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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With a new policy it is always 95% of ex-showroom cost. | |
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![]() | #872 |
BHPian ![]() Join Date: Sep 2006 Location: Trivandrum
Posts: 582
Thanked: 39 Times
| ![]() Thanks rjvora .it did help a lot. |
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![]() | #873 | |
BHPian ![]() | ![]() Quote:
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![]() | #874 |
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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![]() | #875 |
BHPian ![]() Join Date: Jul 2009 Location: Pune
Posts: 271
Thanked: 19 Times
| ![]() @Rupesh: First of all, A huge thanks to you for spending your valuable time in voluntarily helping out people with your gyaan about insurance, the companies and their practices. A small thought - how about a parked FAQ thread so that you dont face the same questions again and again (the thread has become pretty long and its getting difficult to search for exact needs since there are so many results) Rupesh and other experts: I have a question: I am preparing to buy a new car from Maruti and the dealer is recommending Maruti Insurance (through their tie ups with Insurance Co.s) because of 2 reasons: 1. The cashless benefit is valid across all MASS across the country so even if the accident happens in a place other than the home city, I will not face any problems for claiming and cashless benefits. 2. The MASS supervisors who generally give the estimates have a good relationship with the insurance company valuation rep so there is less chance of the estimates being rejected or downgraded Considering that the Insurance quote through Maruti insurance is Rs. 21k+ and the quote i got externally from Bajaj Allianz is Rs. 17k +, what would you all recommend as the best course of action? Thanks in advance for your valuable advice. One more question: The Bajaj Aliianz site lists the following as exclusions. Are these industry standards or specific to BA? . Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown, failure or breakages . Any damage to tyres and tubes unless the vehicle is also damaged at the same and the liability of the Insurer will be restricted to 50% of the cost of replacement . If the private car is driven by a person who is under the influence of intoxicating liquor or drugs at the time of loss . Driving without a Valid Driving Licence . Using the vehicle for hire or reward, carriage of goods other than samples, racing and other racing related purposes and motor trade purposes . Any accidents outside the geographical area Last edited by shreeps : 14th January 2010 at 12:56. Reason: forgot to ask Question about exclusions |
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![]() | #876 |
Senior - BHPian ![]() Join Date: Feb 2004 Location: Dubai/Bombay
Posts: 1,111
Thanked: 605 Times
| ![]() Hi rjvora, I recently sold my '07 Sx4 but the deal didn't include insurance since the buyer was going to convert it to a cool cab; quite obviously my private insurance wouldn't work on it then. I was wondering if I could cancel the insurance and get any my money back for the remaining period i.e until September 2010 ? THanks. |
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![]() | #877 | |
BHPian Join Date: Oct 2004 Location: Mumbai
Posts: 185
Thanked: 22 Times
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This is what I did to get teh NCB certificate when I recently sold my old Palio. 1. The Sale agreement required that post sales, all the RTO, insurance transfer processing would be done by the buyer and the cost for that would be borne by him. I was not to cancle the insurance and it was to be transferred to the new buyer at his cost. (I am not sure what exactly this means. However as I vaguely understand, to get the insurance transferred in his name, the new owner has to pay back to the insurance company the discount on premium I had received as NCB from previous years on a pro-rata basis till the next renewal. In other words he has to pay the difference between the full insurance premium and actual (lower) amount I had paid in view of my previous NCB). 2. I was also told that Car Registration in new owners name required that the car is insured in his name. If I was to cancle my insurance, I would get a partial refund from the insurance company for the remaining pariod till the renewal; and the old insurance would not be transferred to the new owner, he must buy a new insurance. 2. Get the proof that the car is sold and transferred in the name of new owner. - I got the copy of the RC book with the name of the new owner. My Insurance officer had told me that the so called "delivery Note" given by the new owner was not sufficient. So I had to wait for a couple of weeks after the actual sale till the RTO formalities were completed by the new owner. 3. I gave this, along with the original insurance document and an application for issuing the NCB to the insurance company. 4. No "cancellation" or any additional payment was required to be done by me any stage to the company (Oriental insurance). I had followed a similar process at the time of previous car and two-wheeler sale without any hassle. Hope this helps. | |
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![]() | #878 | ||||
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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As far as replying is concern "I am doing that yaar why you worry?" ![]() Quote:
Insurance company have there tie-ups in all India level so I don't think non-Maruti will have any problem. 2. I my self is a small insurance agent but till now non of my client's car claim had any problem till date. In today's world surveyor's can't take you for granted. If they disallow or reduce any expenses then people like me, forums like TBhp will always help people like you who are not an expert in this insurance business. Were as this Maruti insurance staff is fooling people by charging high premium. With all the due respect to Maruti and their team let me tell you that small agent like me can have such a knowledge and you will see they don't have a knowledge. My anger to them is for lack of knowledge, lack of customer friendly nature. And there fooling approach is the sole reason for my Anger. Lastly if I am there in place of you I will surely go for Bajaj with an intermediary who will give me good discount in the quotation and very good service at the time of claim. Ask Maruti if they can offer the insurance at 17K then you can go for them otherwise go to Bajaj. Let me make one thing clear this is not my anger but this TRUTH. Quote:
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You will get NCB letter which you can use for buying a new car. You need to submit the original insurance policy to insurance company along with a letter that you need a refund of premium. You will get premium refund of 8 to 9 months. Last edited by rjvora_2000 : 14th January 2010 at 17:30. | ||||
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![]() | #879 |
Senior - BHPian ![]() Join Date: May 2009 Location: New Delhi
Posts: 1,270
Thanked: 214 Times
| ![]() Hey! I had a few queries regarding Bajaj Allianz from which my i20 is insured for a period of 1 yr(expiring on 6/12/2010) - How many claims can I take during this period? - For example, if I take a claim now, can I take another one the next month(god forbid) just in case the need arises?? Thanks ![]() |
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![]() | #880 |
BHPian ![]() | ![]() Can someone confirm/verify if this calculator hosted at infibeam website is reliable? The premium rates calculated here looks way too attractive? Car Insurance Calculator, Get Car Insurance Quote Online in India - Infibeam.com -BJ Last edited by bj96 : 15th January 2010 at 12:14. |
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![]() | #881 |
BHPian ![]() Join Date: Jul 2009 Location: Pune
Posts: 271
Thanked: 19 Times
| ![]() Guys, One more question. Does the engine immobilizer and remote locking which is present by default in SX4 ZXi qualify for Insurance Premium discount under ARAI approved anti theft device? |
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![]() | #882 | |
BHPian ![]() Join Date: Jul 2009 Location: Pune
Posts: 271
Thanked: 19 Times
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![]() | #883 |
Senior - BHPian ![]() Join Date: Jul 2009 Location: Hyderabad
Posts: 1,666
Thanked: 338 Times
| ![]() Hi Rupesh,With reference to my query on the car insurance renewal in the posts 749,759,765 & 770, I enquired about the Cholamandalam Elite plan and also got the quote from Bajaj Allianz.Attaching the quotes here. I was able to negotiate with BA to increase the IDV to 4,20,000/-. Last year IDV being 4,12,000/-. The premium quoted is 8628/-.My question is , can I further negotiate to either increase the IDV or decrease the premium. As I have already increased the IDV from previous year, can I assume that I am covered against depreciation?I am pretty much tilted towards BA for their straightforward approach and Increased IDV. Also nowhere in the policy I read that they will pay 100% of the IDV in case of total loss. TATA AIG challenged me on this, that only they pay 100% of IDV and rest all pay maximum upto 85%. I want to get this in writing from Bajaj Allianz. Cholamandalam is yet to get back to me on this, they said they will get the approval to give this to me in writing. Please advise shall I negotiate further? Last edited by Fordmanchau : 15th January 2010 at 14:18. |
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![]() | #884 | ||||
Senior - BHPian ![]() Join Date: Mar 2008 Location: Mumbai/Mulund
Posts: 1,658
Thanked: 55 Times
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This one is a better looking website. - That's it premium is not final they bargain on phone. Quote:
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Why you are increasing the IDV from last year? You have to reduce the car value every year. 2. Tata has a special policy if they cover you under that then 100% of car value is covered. 3. Insurance company will pay you total IDV if you reduce the IDV every year. In your case I don't think you are benefiting of IDV it is only insurance company who is getting the higher premium. | ||||
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![]() | #885 |
BHPian ![]() Join Date: Dec 2008 Location: San Antonio
Posts: 596
Thanked: 24 Times
| ![]() HI Vora, One quick question. My insurance company is ICICI Lombard. During claim surveyor quoted 15%(depriciationvalue)+8% (Salvation value) for all metal parts. I was aware of 15% depriciation in metal parts as my car is 2.9 years old. From where is this 8% value came from. We had a long argument regarding this and i declined to pay this 8% extra which is around (13,000 INR). Surveyor will come on monday to MAruti and he will explain it. Any idea about this "Salvation Stuff", or he's just plain cheating. |
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