[Holyghost]

Originally Posted by GTO

Nope

AFAIK, no one will give you 0% depreciation on a 3 year old vehicle (for obvus reason).

I managed to get 0% depreciation policy for my 2008 Jan Safari from Bajaj Allianz. I spent almost a month contacting almost all insurance providers for 0% scheme and ended up 10 days without no insurance for my car. But it was worth the effort and now I have "Drive Assure" policy with Depreciation Shield, Engine Protector and 24x7 Spot Assitance add-ons from Bajaj Allianz.

Different providers have different cut off for 0% schemes. Chola gives this policy for only 1 year old cars. ICICI and HDFC though havent published this policy for public, will provide 0% coverage for some customers for upto 2 years and is upto their discreetion.The customer care however has no idea about this policy.

TataAIG gives for vehicles upto 3 years. They made me run around a bit since even they got confused whether they can provide this insurance for a 3 year old vehicle which is entering its 4th year. Initially they promised me 0% policy quoting that they can provide for vehicles upto 3 years old and my vehicle is 3 year old. Then at the time of payment, they backed off. In short, TataAIG provides 0% depreciation upto 3 yearly renewals. If you are renewing the insurance for the 4th year, most probably you wont get what they promise.

And finally, Bajaj Allianz. They are not bound by any strict guidelines to issue 0% depreciation policy. Though they never commented about the cut off year, the general feeling I got is that they can provide this policy for vehicles upto 5 years if you have a pretty good No-claim history.

So all of you who have 3 year old vehicles and looking for 0% depreciation insurance policy, your only option is Bajaj Allianz as of now. Though there is no guarantee, there is still a slight probability that you can manage to obtain one.

[PbR2]

Originally Posted by condor

@RJVora, pls advice on insurance premium for my Sumo :

Sumo Victa GX Turbo - (own use, not commercial)
5 years old
No claims in 5 years.
Premium quoted : 8735/-
Premium for last year : 86xx/-

The premium for this year is actually a little higher than last year. Quote is from same company as last year.

The reason they are giving is that the vehicle has now crossed 5 yrs. That's why the premium is relative higher.

Hi, Am in the same situation as condor - my Indigo Marina insurance premium with TataAIG last year was Rs3883/ (First premium in Feb 2005), now the renewal for 2011-12, the qoute is Rs5550!
And when I spoke to TataAIG, they said is was as per IRDA ratings, and vehicles more than 5/6 years old, will have an increase in premium, which will in subsequent years, again, reduce.
Is this correct, or am I getting ripped-off?

Cheers
PbR

[Fordmanchau]

Guys need help here. My Ford Ikon's insurance is due for renewal on 2nd feb. I was insured with ICICI lombard for the first year which came from the dealer itself. Second year I went to TATA-AIG but then I found out that they don't have my dealer and their service centre on the list of garages for cashless claim facility.
This year my Dealer has been pestering me for renewal with them.
Ford has tied up with three insurance providers pan india for their FORD PREFERRED INSURANCE , they are
1) Bajaj Allianz - quoting Rs. 7972/-
2) IFFCO- TOKIO - quoting Rs. 7661/-
3) Royal Sundaram - quoting Rs. 8172/-

for the IDV of 3,76,000/- and 25% NCB.
I am in a fix, which one to opt for. Ford is also offering a free wheel alignment and balancing coupon worth Rs. 500/-
I have bought a additional 1 year extended warranty which will expire in Feb 2012, therefore it make sense for me to go with dealer provided Insurers. TATA-AIG has no tie-up with fortune ford and therefore I would have to file for claim reimbursement after settling the bill with service centre.
Guys, suggest which one should I choose among these three.
TATA-AIG is quoting Rs. 7392/- for a IDV of Rs. 3,33,000/-

[Holyghost]

@Fordmanchau: Personally I think Bajaj Allianz would be a better choice. Tata AIG and Bajaj Allianz are the bigger players in private auto insurance sector. Since Tata AIG has no cashless facility, Bajaj would be the second best choice.

Is this the premium amount quoted by your dealership? If yes, then may be you can try to get a quote directly from Bajaj and see if they give a better discount.

[aghosht]

This one is for the Gurus -

Is there anything in rules/ regulations that prevent an insurance company from raising additional grounds for repudiating a claim in a subsequent letter again repudiating the claim? The second letter was sent after explanations were provided to reasons mentioned in the first letter.

[arun_kun]

Hi Rupeesh,

I have my insurance for renewal for this feb end. I did claim any insurance in the first year. How do i claim NCB and how much i can claim NCB. I have insured with kotak. Do you suggest me to change to any other insurer. Please advice.

Thanks in advance.

[ghodlur]

I did claim any insurance in the first year.

The sentence is confusing, did you or did you not make Insurance claims in the first year. If you did, then you are not eligible for NCB, if you did not then you will be eligible for NCB as mentioned in your Insurance policy.

How do i claim NCB and how much i can claim NCB

You can claim the NCB during online renewal or mention the same to you agent if you are going through one. How much - depends as written in the Insurance policy. But mostly for the first year renewals without any claims its 20%.

I have insured with kotak. Do you suggest me to change to any other insurer. Please advice

If Kotak is giving a good deal on the Insurance renewal then stick to them. If the tie up is for cashless claim settlement, the better. If not then you can scout for a good deal. There are many Insurers who may give you a better deal to get business from you.

[arun_kun]

Sorry, my bad. I did not claim insurance for the first year. Thanks for the info.

[jatinpatel]

Hello

I have a 05 800 which is covered by New India Comprehensive insurance.Theres no NCB on my car,
yesterday at my friends place when the car was parked a coconut tree dried leaf fell on my car and severly cracked and borke the windscreen and made deep big scratches on the bonnet.

My Question is how much coverage should i expect from the insurance company for the glass ?cause i know metal and paint is 100% covered, I am worried for the glass.

[ghodlur]

Originally Posted by jatinpatel

My Question is how much coverage should i expect from the insurance company for the glass ?cause i know metal and paint is 100% covered, I am worried for the glass.

Jatin,

Are you sure that metal depreciation is taken at 100% coz I was under the impression that the depreciation for metals is 50%. I mean you will have to bear half of the charges for the metal repairs. Pls confirm with the Insurer.

Regarding the glass, you will have to pay full charges IMO. Have you checked the Insurance policy?

[Holyghost]

If you are replacing any metal parts, the insurance will pay only 50% or less depending on the depreciation. But for repairing and painting metal parts you will get 100%.

[fifthgear]

I have an insurance due for renewal. Insurance is from Royal Sundaram/ Maruti Insurance and I would like to continue it. Premium amount is Rs 2650

The dealer is Pratham Motors and they are offering to renew the policy for Rs 2500, payable by cheque. However I understand that the policy statement will still show a premium amount of Rs 2650 and the rebate is being offered by Pratham Motors and not by Sundaram.

Would this be a problem in case of claims in the future as I would have paid only Rs 2500 and not Rs 2650. Will the insurance policy be valid or will this be a potential source of problems in future?

[noopster]

Originally Posted by jatinpatel

Hello

I have a 05 800 which is covered by New India Comprehensive insurance.Theres no NCB on my car,
yesterday at my friends place when the car was parked a coconut tree dried leaf fell on my car and severly cracked and borke the windscreen and made deep big scratches on the bonnet.

My Question is how much coverage should i expect from the insurance company for the glass ?cause i know metal and paint is 100% covered, I am worried for the glass.

I don't remember the details but this happened recently to my Swift. Claimed insurance and was covered 100% for the glass IIRC, had to pay about 1500 for the binder and plastics etc. Insurance covered the balance, about 5000+.

[fifthgear]

I got some further details from my contact from Pratham Motors.

1. I can either pay Rs 2650, with the cheque payable to "Royal Sundaram" OR
2. I can pay Rs 2500, with the cheque payable to "Pratham Motors".

For last couple of years, I have been renewing the insurance with Sundaram via Pratham but this is the first time I got this option of paying less if I make the payment direct to Pratham.

Has anyone else got such an offer from their dealer and more important is this all legit?

I don't want to have problems later to save a minor amount now. On the other hand I would not like to pay more to Sundaram unnecessarily..

Originally Posted by fifthgear

I have an insurance due for renewal. Insurance is from Royal Sundaram/ Maruti Insurance and I would like to continue it. Premium amount is Rs 2650

The dealer is Pratham Motors and they are offering to renew the policy for Rs 2500, payable by cheque. However I understand that the policy statement will still show a premium amount of Rs 2650 and the rebate is being offered by Pratham Motors and not by Sundaram.

Would this be a problem in case of claims in the future as I would have paid only Rs 2500 and not Rs 2650. Will the insurance policy be valid or will this be a potential source of problems in future?

[ghodlur]

Originally Posted by fifthgear

I got some further details from my contact from Pratham Motors.

1. I can either pay Rs 2650, with the cheque payable to "Royal Sundaram" OR
2. I can pay Rs 2500, with the cheque payable to "Pratham Motors".

For last couple of years, I have been renewing the insurance with Sundaram via Pratham but this is the first time I got this option of paying less if I make the payment direct to Pratham.

Either Pratham motors is offering a discount based on a higher commission whcih they may get from Sundaram or they might be giving an inhouse shady kind of Insurance deal. If you pay Pratham and still the Insurance is issue by Sundaram then you may consider the option of saving 150/- or else directly approach Sundaram and take the Insurance online.

For a mere 150/- you definitely dont want to take the risk.