Team-BHP - Automobile Insurance Queries? Ask me

Quote:

Originally Posted by jkdas (Post 1777526)

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:thumbs up

Have you took Reliance as a Insurer? I am shocked.

Quote:

Originally Posted by cuttingcrew (Post 1775478)

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

The NCB can be transferred when the company is transferring teh vehicle to the employee.

There is an endorsment clause in the Indian Motor Tariff GR 27 (e)

(e) "The percentage of NCB earned on a vehicle owned by an institution during the period when it was allotted to and exclusively operated by an employee should be passed on to the employee if the ownership of the vehicle is transferred in the name of the employee. This will however require submission of a suitable letter from the employer confirming that prior to transfer of ownership of the vehicle to the employee, it was allotted to and exclusively operated by the employee during the period in which the NCB was earned."

Please check this clause and talk to the insurance company.

Regards
Marlon

Hi Rupesh
As written earlier my insurance expires on 5th April. It is my first renewal
and being given 20% NCB. Reliance have sent me a renewla notice with the amount Rs.38889/- while Infinium Toyota (Ahmedabd) has offered discount and made it Rs.26483.71. It is with Reliance..not sure this is best
I can get. Here are the full details:
Value: Rs 1167577
Rate 3.44
Insu. 40164.65
NCB 20% 8032.93
Total 32131.72

Disc. 35% 11246.10

Total 20885.62
Third party rates Rs.2500/-
LL to paid driver 25/-
owner driver 100
PA to unnamed psngr 500

Sub totoal Rs 24010.62
tax 2473.09
TATAL: Rs 26483.71
Please advisse me if this is a good deal or should I try someone other than
Reliance.
Thanks in advance

Quote:

Originally Posted by Marlon (Post 1779661)

Wow Marlon this was a new input for me also let me check with some insurance company how they are practically implementing this law. I will update this thread by Monday on this issue.

Quote:

Originally Posted by London Gujju (Post 1779701)

Hi Rupesh
As written earlier my insurance expires on 5th April. It is my first renewal
and being given 20% NCB. Reliance have sent me a renewla notice with the amount Rs.38889/- while Infinium Toyota (Ahmedabd) has offered discount and made it Rs.26483.71. It is with Reliance..not sure this is best
I can get. Here are the full details:
Value: Rs 1167577
Rate 3.44
Insu. 40164.65
NCB 20% 8032.93
Total 32131.72

Disc. 35% 11246.10

Total 20885.62
Third party rates Rs.2500/-
LL to paid driver 25/-
owner driver 100
PA to unnamed psngr 500

Sub totoal Rs 24010.62
tax 2473.09
TATAL: Rs 26483.71
Please advisse me if this is a good deal or should I try someone other than
Reliance.
Thanks in advance

You are getting 35% other discount which is OK but you can still bargain for more, till 40%. Please stay away from Reliance and Icici for your insurance needs.

Please avoid spelling mistake and shot-forms.

Quote:

Originally Posted by zakaaaaasss (Post 1780602)

Hi experts,

have my NHC insured with Tata AIG...very recently during renewal, I asked for my NCB component (currently ~ 45%)
I'm told that now-a-days all insurance companies instead of reducing the premium amount they are increasing the value of the insured vechicle and adjusting the NCB there....It this true ?

100% false statement. There is noting like this happening in any insurance company. Please check you last two or three policy and you will understand this.

I am stuck with a a bill of 15,000 for which i am not getting claim.

in 2007 i bought my bike and insured with National Insurance, in 2008 i shifted to United, and in 2009 Oriental, i never took the claim, nor do i have any records for my previous insurance policies.
this year i repaired my bike and the bill was around 15,000. The Insurance company now asks me to furnish records for the previous insurance (united) else i wont get claim(they want an NCB or something) , now when i contaced united india insurance they said there is no record for any insurance by the name. Now im stuck. what do you suggest ?

Quote:

Originally Posted by motorpsycho (Post 1781033)

Hi Guys

I have not renewed my insurance for my bike for the last 4 years and have lost the original papers, the insurance agent told me I can only go for a 3rd party insurance , is there a way out for me .

Thanks

MP

If your bike is less then 5 years (starting 5th year from new) then you can get a full insurance. Take the bike to one of the Insurance company branch offices directly. They will inspect and photograph the bike (may be) and then if its clean, they will give you a full insurance.

Its no big deal. You will not get any NCB that is all.

Agent may not want to go to the insurance company office for such small commission he will make out of this and hence, trying to discourage you.

Thanks and Best Regards

Ram

Quote:

Originally Posted by YC.BALENO.CHD (Post 1781026)

Write a letter to insurance companies claim's department asking them why before issuing the policy they did not ask for this requirement? and now why they are asking you?

1. For making payment if insurance companies needs any document they have to inform the insurer while taking the policy, not at the time of making payment for the claim.

2. No were in the policy wordings it is written that if you don't show your old insurance policy your current claim will not be payable.

Put the above points in your letter to insurance company I am sure they will not have any reply to this one.

Do you have old policy no. with you? as that can be helpful in this case for getting the claim in your favor - Early!!!

Quote:

Originally Posted by motorpsycho (Post 1781290)

Hi R_nairtvm
Thank you very much. The agent did ask me an extra 100 bucks for the renewal. Guess i'll directly take the bike to the insurance company.
Thanks
MP

If you go for TP policy with an agent you will have to pay extra as agents are not given any commission on TP business.:)

Hi,

I'm leasing a car and Orix - the leasing company quoted INR 32500/- for the insurance. This is with ICICI lombard insurance company.

ICICI lombard has an online policy calculator using which I got an offer for about 25K!

So my question is, is Orix overcharging me? I was told by Orix that they insure for a large number of vehicles at one shot so I would be getting a better offer.

PS: I'm aware of the dangers of ICICI lombard insurance(mentioned in other discussions), but unable to change as its decided by Orix.

Please suggest.

Nitin.

Hi rjvora....

I have come across this thread at a very right moment. I am in the process of renewing my policy

Quick questions
I have an ICICI lombard policy and now with the NCB of 25% i have been offered a proposal. In parellel HDFC Ergo has approached me a policy with flat 55% discount...not sure why and their premium works out to be almost 20% cheaper than ICICI Lombard.

I am confused and not sure whether these insurance companies are playing any games.

Cheers...

Quote:

Originally Posted by nitinbose (Post 1783272)

Since you are leasing the car I am not sure what options you have, to change the insurance company. Still if you have any options then please change the insurer. If you have to pay this premium then please tell them the difference of quotes which you have with you.

I hope you have taken the quote as a commercial vehicle and not as a private car. - As your car is used for commercial use.

Quote:

Originally Posted by sumitdongerkery (Post 1783727)

Please check the IDV of both the quotes, if they are same, come to bargaining business as I am sure both the companies rates will come down.

There is noting like FLAT discount they must be combining two discount.