[NevGin]

Originally Posted by guptavis

I dont think it works this way. Third party clim is for personal injury to third party and not to their vehicle. If you compensate him, i think it will be from your pocket.

I am told it does. Just read through the New India Assurance FAQs. Mentions that it covers 'Damage to third party property' which in this case the is the WagonR.

[Thad E Ginathom]

If it didn't cover damage to property, then causing an accident in which a big, new Mercedes (for instance) was written off would bankrupt most of us!

Years ago, when sailing was my hobby, I was amazed to see the vast sums of money for third-party liability on yacht insurance policies. The explanation I got was, "imagine that you do something that causes a supertanker to go aground."

[shuvc]

Civic insurance renewal time: And I am contemplating a lower IDV option (9.5L instead of 10.5L for a 1year old car) .. but would like to understand ......

How exactly is the payout done in case of a total loss?

I understand total loss comes into the picture if the repair estimate is above a certain % of IDV (75? 80?) ..
Once that is approved.
How is the actual payout calculated?

- Is it the IDV?
- Is it the IDV pro-rated and reduced by the depreciation due to the number of months elapsed in the year?
- Is it a certain % of the IDV?

How is the salvage value deducted? Is it upto the owner to sell the scrapped car? While the insurance company deducts some amount from the payout? If so how do they calculate this amount?

[kalpeshc]

If one is getting insurance transferred from a previous owner to self, would an independent inspection be necessary?

I have bought a pre-owned car and the previous owner had insurance with Iffko Tokio. Now when I am transfering the same to my name, they are insisting for an inspection and asking me to pay an inspection fees of 250 ! Is it justified? The car is a 8 month old i20.

[rajswiftvdi]

My one year 5 months old swift met with an accident, one jeep guy was overtaking a bus in a curve bang head on.

Car was insured by Royal Sundaram thru Maurti and is currently in MASS bodyshop undergoing estimate. I am quite new to insurance and related procedure, need some help here. IDV is 4.15 lac. I have gone thru the posts and realize that till 75% of the IDV, can be repaired and beyond that insurance firm will delcare total loss. Called up Royal Sundaram and they informed that they can spend only 40% of IDV for repair. From the initial feedback from MASS, the repair cost will be above 1.6 lac and so this would be a total loss claim.

Why this 40% restriction, though their site it self says 75% of IDV can be repaired.

[ghodlur]

Originally Posted by rajswiftvdi

IDV is 4.15 lac. I have gone thru the posts and realize that till 75% of the IDV, can be repaired and beyond that insurance firm will delcare total loss. Called up Royal Sundaram and they informed that they can spend only 40% of IDV for repair. From the initial feedback from MASS, the repair cost will be above 1.6 lac and so this would be a total loss claim.
Why this 40% restriction, though their site it self says 75% of IDV can be repaired.

1.6 L is around 38% of the IDV so Royal Sundaram claiming to pay 40% repairs in fair enough. Normally RS would directly deal with MASS in case of a total loss. Is this known to RS? Is something amiss here.

[sheelz]

Hi there

Need advice from insurance experts.

I have a Dec 2010 Tata Safari. On a recent drive, the windshield suffered a minor crack( 1 inch) from a pebble that flew off a tyre fom a truck.

Now I want to replace the windshield through insurance. What about my NCB. How much is the NCB a anyways. I have paid 27 K for insurance (Royal Sundaram Tata Insurance. i think windshield cost will be around 6-8 K. What should I do? If I don't claim now, will the windshield be replaced when I renew it later.(after one year).

Thanks

[RaguHolla]

Originally Posted by sheelz

Now I want to replace the windshield through insurance. What about my NCB. How much is the NCB a anyways. I have paid 27 K for insurance (Royal Sundaram Tata Insurance. i think windshield cost will be around 6-8 K. What should I do? If I don't claim now, will the windshield be replaced when I renew it later.(after one year).

Thanks

First,

Is this some special package you have with RS? Like glass & fiber covered 100%? If not as I understand each insurance has its own rule. e.g. Bajaj Allianz covers 50% for glass and Fiber. Where as Tata AIG has 50% for fiber and 0% for glass! Windshield being considered glass, you will get only labour in such cases (in case of Tata AIG normal insurance) or you get 50% based on your coverage factor.

First year NCB is around 10% of premium. So in u r case it will be 2.7K. If you are getting 100% of coverage (bar standard deduction of 1K), then I don't see why you shouldn't consider claiming the amount. Otherwise you need to see how much is covered and is it worth it.

[sheelz]

Thanks RoguHolla for a quick reply.

Now my policy booklet say depreciation on glass 0%. I guess that means I get full amount on glass. Let me confirm

Thanks Buddy

[mayankk]

Similar query as sheelz here.
Managed to get a cracked windscreen from a flying missile of a pebble.
Happened right in front of a windshield experts location.
he says that it has to be replaced, cost is about 6500, out of which i will have to pay 1500 for the sealant.
Glass is covered 100%, no depreciation.

My question is, my wife was driving at the time, rather parking the car.
Legal license holder.
should this be disclosed?
i know its legitimate even if i claim saying i was not driving, but will it be a cause for the insurer to argue and point out stuff?
The insurer mentions a copy of the DL of the person who owns the car, ie em, and the original of the person driving the car.
will this original be filed away for whatever duration?
cant afford for her to be without the DL.
help please?


edit:additional query.should i make a claim at all(NCB advtg etc).My premium was 17k odd for one year comprehensive.does a saving of 5k even out any NCB advantages?

[RaguHolla]

Originally Posted by mayankk

Similar query as sheelz here.
Managed to get a cracked windscreen from a flying missile of a pebble.
Happened right in front of a windshield experts location.
he says that it has to be replaced, cost is about 6500, out of which i will have to pay 1500 for the sealant.
Glass is covered 100%, no depreciation.

My question is, my wife was driving at the time, rather parking the car.
Legal license holder.
should this be disclosed?
i know its legitimate even if i claim saying i was not driving, but will it be a cause for the insurer to argue and point out stuff?
The insurer mentions a copy of the DL of the person who owns the car, ie em, and the original of the person driving the car.
will this original be filed away for whatever duration?
cant afford for her to be without the DL.
help please?


edit:additional query.should i make a claim at all(NCB advtg etc).My premium was 17k odd for one year comprehensive.does a saving of 5k even out any NCB advantages?

I don't think that you or anyone driving matters for insurance claim. As long as person holds valid license it is okay. Not sure why any one even wants original of person driving car. never heard of it. Is it not original complaint?

As per NCB is concerned what is % of NCB? If it is more than what you get in NCB then why not claim it?

Someone also told me that if you go for claim, your vehicle value gets reduced (as buyer will see claim and thinks of disaster!). I personally doesn't care as I keep my vehicle will be kept for at least 5 years. But if you are a person fast changing vehicle and if above mentality exists in market you are going to sell, think if it is worth it!


Dear experts,

I am in process of renewing the insurance. I need advice which one is better,

Option 1: Renew with Bajaj Allianz:
Existing policy is with Drive assure, will continue the same. Cost for Fiesta SXI is 25139. g,

Drive assure covers following,
0% deprecation on all parts (Glass, fiber, rubber).
2 times claim in a year (additional claims are considered normal).
24X7 road side assistance, with free towing up to 250km, emergency vehicle pickup.
Engine protection (if engine fails due to mall function, it is covered, I am not convinced why warranty won't cover this!)


Option 2 : Go with Tata AIG:
Choose Perl (Silver addon is added) is 22364.
Covered things are,

0% depreciation,
NCB protection (if only 1 claim is made, NCB won't be affected, exception is glass, fiber and rubber aren't involved in claim)
Emergency transport.
Key replacement (meaningless to me)
Silver add-on will takeout the condition of NCB affected against claim involving fiber glass and rubber.

Or Buy Dimanod plan (25694).

This plan is Perl + Return to invoice. i.e if vehicle is total loss then AIG will pay Invoice amount (not IDV amount). Which include our road tax, registration charges - Insurance amount!.

All premium are at IDV 616318.

Which one I should choose? How is Tata AIG in bangalore when it comes to Claims?

[mayankk]

Originally Posted by RaguHolla

I don't think that you or anyone driving matters for insurance claim. As long as person holds valid license it is okay. Not sure why any one even wants original of person driving car. never heard of it. Is it not original complaint?

Someone also told me that if you go for claim, your vehicle value gets reduced (as buyer will see claim and thinks of disaster!). I personally doesn't care as I keep my vehicle will be kept for at least 5 years. But if you are a person fast changing vehicle and if above mentality exists in market you are going to sell, think if it is worth it!

Oh, i just went buy the claim process as mentioned on the BA site.
there it said the bit about the license, hence i asked.

Also, i too intend to keep the car as long term-er, , so that value bit is N/A for me too.

[ghodlur]

My question is, my wife was driving at the time, rather parking the car.
Legal license holder.
should this be disclosed?
i know its legitimate even if i claim saying i was not driving, but will it be a cause for the insurer to argue and point out stuff?
The insurer mentions a copy of the DL of the person who owns the car, ie em, and the original of the person driving the car.
will this original be filed away for whatever duration?
cant afford for her to be without the DL.
help please?

Could not really understand what you wanted to say. The car is in your name and the Insurance is paid by you. In case of any claim they would want the original licence of the car owner since he is liable for the same. The original is required when the surveyor pays a visit to the workshop to assess the cost. He would be requiring to verify the original DL and take a copy of the DL for putting the claim through in his office. The original DL is returned back to the ower after verification by the surveyor.

edit:additional query.should i make a claim at all(NCB advtg etc).My premium was 17k odd for one year comprehensive.does a saving of 5k even out any NCB advantages?

If you evaluate whether paying from your pocket would result in some savings than making a claim and losing the NCB then that's your call.

[mayankk]

Originally Posted by ghodlur

Could not really understand what you wanted to say. The car is in your name and the Insurance is paid by you. In case of any claim they would want the original licence of the car owner since he is liable for the same. The original is required when the surveyor pays a visit to the workshop to assess the cost. He would be requiring to verify the original DL and take a copy of the DL for putting the claim through in his office. The original DL is returned back to the ower after verification by the surveyor.

oho, first time claimant, hence the rigmarole.
here's the text from BA's site:

"A copy of the vehicle's registration book
A copy of the driving license of the person driving the vehicle at the time of the accident
An estimate of the repairs
A copy of the police FIR / Panchnama in case of theft or any third party personal injury / death or property damage"

windshield experts told me the license would also be required, i forgot to ask "who's?".

[rahul_9327]

If we opt for a comprehensive package, will the insurance company provide 100% for repair charges ? Are the clauses same for both repair and replacement ?

Does the add on packages like depreciation waiver have benefit only for replacement or for repair as well ?