[f1head]

Originally Posted by Deeps

I have a question on motorcycle but it would apply to cars equally I guess.

I bought a used Karizma from a dealer in January. I have all the documents required. The bike did not have valid insurance at the time I bought it. Once bought, I got it insured in my name even though it was NOT transferred to my name. Now i want to get it transferred in my name, so would there be any problem?

The insurance is invalid by the way, you will not be compensated in case of claim. So please try and sort this matter as fast as possible.

[Deeps]

Thanks RJVORA. Would there be any problem in transferring the bike to my name as the current insurance is already in my name?

@f1 fan: I know buddy. Have not had the time to go around to the RTO for this.

[jkdas]

Tata is asking 165xx for the insurance. They quote IDV at 65700. HDFC asks only 14900 and Reliance 15700. Why are the dealers (I asked quote for Tata from local tass ) quoting too much ?

[KALINGA]

Hi RJVORA

I have a Getz Prime 1.1 GLE. It was a 2008 model. Single owner. Owned by Me.
The insurance renew is due in April. Today i got a call from TATA AIG . The sent me a mail with details. I am attacing this mail below.
Kindly can you tell me is this a good deal ?
Or i need to look other company/option as well.

The mail is as below:-

==============================================

Dear Sir,

This is with reference to the Sales call that you received
from(Ravi Kumar)regarding the renewal of your Motor Insurance Policy
through TATA-AIG.

The details of your car, as provided by you, are as follows:-

1. Car & Make Model :Hyundai Getz 1.1 Prime GLE
2. NCB :25%
3. Existing Insurance :icici lombard
4. Cashless Claim Settlement: YES
5. Accident Repair Warranty(6 Month)
6. Towing Facility Upto Rs 1500/-
7. Property damage upto =7,50,000/-
8. Thrid party body injury unlimited cover.
9. Owner Driver Cover Upto : 2,00,000/-
10. Paid Driver Cover Upto : 2,00,000/-


Based on this information, the IDV (Insured Declared Value) of your car
is Rs 2,70,000/- and premium is Rs.6,130/-Inclusive of all ServiceTax).


You can now renew your policy over the phone itself without having got
into the hassles of documentation. If eligible, you can also pay your
premium using your credit card and get 0% EMI's on your premium amount
as well.


As Soon as your payment is made you will receive your policy document
along with the Service Booklet within 7 working days. You can utilize
the Service booklet after your policy with TATA AIG begins (policy
inception date).


The service booklet entitles you to various types OF discounts like free
car wash, discounts on servicing,any servicing of car, discounts on
spare parts etc... These discounts can be availed at any Maruti
authorized garages or service centers of TATA AIG as mentioned in the
booklet which will be sent with the policy Documents.


NO CLAIM SAVING BENEFIT;-
Another unique feature of this policy is that you will not lose your No
Claim Bonus if your vehicle needs reparing for any Fibre, Plastic, and
glass parts. However, to avail of this offer the vehicle should be
repaired at our Garages.

If you have any after sales queries you can contact us on 1800-229966
or send an email on customerservices@tata-aig.com

Warm Regards,

Sanjay Solanki
==================================================
Thanx
KALINGA

[falcon009]

Hi RJVORA

I got a query in regard to insurance. I had bought a Ritz Lxi in my wife's name and insured by maruti insurance. Can you please explain me the break up if possible as offered by Maruti Insurance. Also since i will mostly be driving the car and my wife doesn't have a License yet will i be able to get claims as the car in not in my name?

[rjvora_2000]

Originally Posted by Deeps

Thanks RJVORA. Would there be any problem in transferring the bike to my name as the current insurance is already in my name?

No sir, you will not have any problem. Are you doing it thruogh agent or doing it on your own?

If there is an agent you will not have any problem for sure.

Originally Posted by jkdas

Tata is asking 165xx for the insurance. They quote IDV at 65700. HDFC asks only 14900 and Reliance 15700. Why are the dealers (I asked quote for Tata from local tass ) quoting too much ?

The reason can be the discount if the IDV is same. Normally dealers will offer less discount as they get higher commission. Please don't go for Reliance or Icici.

Originally Posted by KALINGA

Hi RJVORA

I have a Getz Prime 1.1 GLE. It was a 2008 model. Single owner. Owned by Me.
The insurance renew is due in April. Today i got a call from TATA AIG . The sent me a mail with details. I am attacing this mail below.
Kindly can you tell me is this a good deal ?
Or i need to look other company/option as well.

The mail is as below:-

==============================================

Dear Sir,

This is with reference to the Sales call that you received
from(Ravi Kumar)regarding the renewal of your Motor Insurance Policy
through TATA-AIG.
==========================
If you have any after sales queries you can contact us on 1800-229966
or send an email on customerservices@tata-aig.com

Warm Regards,

Sanjay Solanki
==================================================
Thanx
KALINGA

This deal look's good to me with 270k only Rs. 6k+ premium, is a good deal.

[rjvora_2000]

Originally Posted by falcon009

Hi RJVORA

I got a query in regard to insurance. I had bought a Ritz Lxi in my wife's name and insured by maruti insurance. Can you please explain me the break up if possible as offered by Maruti Insurance. Also since i will mostly be driving the car and my wife doesn't have a License yet will i be able to get claims as the car in not in my name?

Breakup is very simple if you see the policy paper.

Breakup has two side's on the 1st side it has a OD premium bifurcation and on the second side there is a TP premium calculation and below there will be a final premium.

Till the time you are driving with valid DL you will not have any problem in driving the car and getting the claim. Remember if your wife is riding and unfortunately if there is any loss, the claim will not be payable at all.

Let the car be in anyone's name, if you have valid DL you can drive the car with no issues in claim.

[pjbiju]

Rupesh,

Any feedback on IFFCO-TOKIO? Do they have a good reputation? That is also an option I have through Maruti Insurance.

-Biju

[aka_iitd]

Is this a good premium quotation from Bajaj Allianz
I think it is OK to go any say folks

YEAR OF MFG 2007
VEHICLE MAKE AND MODEL HYUNDAI GETZ
INSURED DECLARED VALUE 324000.00
BASIC O D 6382.15
NO CLIAM BONUS 35% 2233.75
Basic Act Premium (TP ) 800.00
PA COVER TO OWNER (COVERED - 200000/-) 100.00
Paid Driver (COVERED - 50,000/-) No
NET Premium 5048.40
ADD: Service Tax @10.30 % 519.99
TOTAL PREMIUM 5568.00
Place is Bangalore

Earlier(Current policy which is expiring) policy IDV was 360000 with premium 7348 and NCB 25%

[comfortablynumb]

Originally Posted by rjvora_2000

1. True.
2. Tell bajaj to reduce the IDV and give you the quote again.
3. Your claim will be payable as per 95% value of invoice in case of theft or total loss. It doesn't make any sense to keep the Idv high. No problem in shifting the policy or anything with higher value.

@ rjvora_2000, r_nairtvm - Sorry for the late update. I followed your advice and asked Bajaj Allianz to give me a quote by considering 95% of the invoice price for my Scorpio SLE. I'd also got quotes from the same amount from HDFC Ergo and the dealer too. BA surpassed them both and gave me a final quote of Rs.19,662/- with all standard coverages and no extra riders. This was exactly Rs.8100 less than what the dealer had originally quoted. Since this quote couldn't be matched by the other two co's and also 'cause my previous experience with BA was more than decent, decided to go ahead and choose BA. I cut a cheque for the above amount, received the cover note instantly and also got the vehicle delivered the next day. The actual policy doc was delivered in 10 days!

Thanks a lot to both of you for your prompt and useful advice!

Cheers,
Vikram

[cuttingcrew]

Hi

Here is my issue,

I am transferring my car from company's name to my name. The insurance is also in the company's name and will expire on 31st Mar 2010.

1. I want to get the new insurance in my name. Should I have to transfer the existing to my name also?
2. I talked to an insurance company. They told be that I am not entitled to a no claim bonus as it will be in a different name. Is this true? I want to get this bonus as the difference is about 4K.

Thanks

[pjbiju]

Originally Posted by cuttingcrew

Hi

Here is my issue,

I am transferring my car from company's name to my name. The insurance is also in the company's name and will expire on 31st Mar 2010.

1. I want to get the new insurance in my name. Should I have to transfer the existing to my name also?

You can take an insurance in your name only after you get the car transferred to your name. So you need to renew the insurance, transfer the ownership to your name and then get the insurance transferred to your name.

2. I talked to an insurance company. They told be that I am not entitled to a no claim bonus as it will be in a different name. Is this true? I want to get this bonus as the difference is about 4K.

If you renew the insurance with the car still in company's name, you will get NCB. But when the insurance will be transferred to your name, you will have to pay the NCB back to the insurance company. Also (like in my case), you will not get NCB next year also, because you will renew the insurance before 31-Mar-2010 and then get the car transferred to your name, say sometime in April. The insurance will have your name after that. And in Mar 2011, the insurance in your name would not have completed 365 days. And that is a requirement for NCB.

Thanks

My reply is in bold above.

-Biju

[jkdas]

Called up TATA AIG Cochin expecting they will give a better quote; it was: 21,250/- and with Pearl Package its 23,255 or so lol.

Think I will stick with HDFC at 14,978/- (IDV, 6,57,000)

[rjvora_2000]

Originally Posted by pjbiju

Rupesh,

Any feedback on IFFCO-TOKIO? Do they have a good reputation? That is also an option I have through Maruti Insurance.

-Biju

With whom you are comparing? Iffco as a company is not bad but still they are not efficient as good as Bajaj. - This is my opinion.

Originally Posted by aka_iitd

Is this a good premium quotation from Bajaj Allianz
I think it is OK to go any say folks

YEAR OF MFG 2007
VEHICLE MAKE AND MODEL HYUNDAI GETZ
INSURED DECLARED VALUE 324000.00
BASIC O D 6382.15
NO CLIAM BONUS 35% 2233.75
Basic Act Premium (TP ) 800.00
PA COVER TO OWNER (COVERED - 200000/-) 100.00
Paid Driver (COVERED - 50,000/-) No
NET Premium 5048.40
ADD: Service Tax @10.30 % 519.99
TOTAL PREMIUM 5568.00
Place is Bangalore

Earlier(Current policy which is expiring) policy IDV was 360000 with premium 7348 and NCB 25%

Compare to last year yes this is a good quote.

Originally Posted by cuttingcrew

Hi

Here is my issue,

I am transferring my car from company's name to my name. The insurance is also in the company's name and will expire on 31st Mar 2010.

1. I want to get the new insurance in my name. Should I have to transfer the existing to my name also?
2. I talked to an insurance company. They told be that I am not entitled to a no claim bonus as it will be in a different name. Is this true? I want to get this bonus as the difference is about 4K.

Thanks

1. No. once you take a new insurance policy then you don't have to transfer the old insurance in your name again.

2. NCB go's with owner of the car and not to the car. So in your case you will have to pay the NCB. You can ask insurance company to issue a NCB letter in your companies favor so if you buy a new car in your company name then you will get the benefit in the premium amount.

Originally Posted by pjbiju

My reply is in bold above.

-Biju

Sirji I will request you to check my replies above as they differ from your reply.

Originally Posted by jkdas

Called up TATA AIG Cochin expecting they will give a better quote; it was: 21,250/- and with Pearl Package its 23,255 or so lol.

Think I will stick with HDFC at 14,978/- (IDV, 6,57,000)

HDFC is looking very good. What is the IDV in Tata's quote?

[jkdas]

HDFC is looking very good. What is the IDV in Tata's quote?

Went with the Tata deal as I wanted a good relation with local TASS as I dont have Extended Warranty. Tata's deal was with Reliance and hence it was Reliance for me. IDV is 6,57,000 and I paid 16,559 Rs.

I will also get the Gold Membership Card worth 500Rs which is valid for two years. The card details can be found here.Tata Motors Customer Care :: Gold Club Membership

Thanks for your input