Automobile Insurance Queries? Ask me

rjvora_2000 · 6th April 2009, 08:53

Quote:

Originally Posted by laluks

My insurance for civvy is due for renewal next month. I have got some quotes from ICICI, Bajaj, Reliance and Royal sundaram from the web. But seems there are a lot of difference in premium.

ICICI - 13674
Bajaj - 17460
Reliance - 18449
Royal sundaram - 16125

All have more or less the same IDV and features.

My current one is ICICI and they seem to be competitive this time too. Heard lot of negatives from this forum against ICICI. But how is it possible that they can give a premium so low.

The same thing happened last year as well ICICI gave 23k, where as the nearest competitor had give 30k+

Any suggestions?

Take the Icici quote and give it to Bajaj (Show them the quote from Icici) I am sure any company will come down on rates when they see the quote.

This will also help you because if any company is hiding something from you the other company guy may tell you the truth.

sriturl · 7th April 2009, 15:27

Quote:

Originally Posted by laluks

Any suggestions?

Check out more and you will be in for surprise

There are other vendors who are becoming more competitive. You can try Tata AIG, Bharati AXA etc., but both donot have online quote, you can call them or email and get a quote.

Or try out policybazaar.com

hdi_pro · 8th April 2009, 01:18

got some slight scratches on my bumper and slight dent.Can I claim insurance for repairing the dents and scratches.

Thanks,
hdi.

janitha · 8th April 2009, 08:06

Quote:

Originally Posted by hdi_pro

got some slight scratches on my bumper and slight dent.Can I claim insurance for repairing the dents and scratches.

Thanks,
hdi.

You will loose "no claim bonus" when renewing the policy. So I feel it is better to pay from pocket for small works.

rjvora_2000 · 8th April 2009, 09:23

Quote:

Originally Posted by sriturl

Or try out policybazaar.com

This is not a correct web site for quote - I believe.

They are favoring only one or two companies, if you approach direct to those companies where that quote less discount, Companies will give you more discount on the same IDV. Product information also is not correct on this site.

Look's good and easy to surf the site. - That's it, nothing else.

aka_iitd · 8th April 2009, 12:29

It's a time for my SX4 Insurance renewal and I can see the Schedule of premium is divided in 2 sections from Maruti insurance. One is Own damage which contains Vehicle and Accessories and other section is Liability.Liability has Rs. 2500 for Vehicle entry. I am not able to understand about Liability entry. Folks please shed some light on this. I cannot see this section in Bajaj policy for my Getz

Sha09mel · 8th April 2009, 14:14

Hi..

My insurance gets over today, mid-nite & Honda has recommended Future Generali India.
Any suggestions as to how good is the company in terms of Insurance??

rjvora_2000 · 9th April 2009, 10:10

Quote:

Originally Posted by aka_iitd

It's a time for my SX4 Insurance renewal and I can see the Schedule of premium is divided in 2 sections from Maruti insurance. One is Own damage which contains Vehicle and Accessories and other section is Liability.Liability has Rs. 2500 for Vehicle entry. I am not able to understand about Liability entry. Folks please shed some light on this. I cannot see this section in Bajaj policy for my Getz

Liability side has Third-party cover, Legal liability to driver, Accident cover to driver. this three are must cover one more optional add on is of Accident cover for un-named passenger.

This is a compulsory insurance no company can avoid this. Ask insurance company to give details of the quote that will have these details.

Quote:

Originally Posted by Sha09mel

Hi..

My insurance gets over today, mid-nite & Honda has recommended Future Generali India.
Any suggestions as to how good is the company in terms of Insurance??

Future is doing good at-list in Mumbai. Please check with your service station do they have a tie-up with them? - That's very important.

zaks · 10th April 2009, 10:36

My Palio Multijet's insurance expires in Jun and I have already got calls from Reliance with some quotes. The present one is TATA AIG and I paid about 15k when I bought the car and the IDV was 4.56L.
Now, Reliance called up and said they would offer me 30% discout + NCB if I renew with them. This looks attractive and I checked with my service station they have cashless with Royal Sundaram, Reliance, ICICI Lombard, Bajaj (coming soon) and some others.
I did checkout online quotes and Bajaj is quoting 10,445 and Royal Sundaram is quoting 8,547 which is quite low. They both mention approx 4L as IDV which is low I think.
My service station guys said that RS gives a better deal according to his experience with customers and also covers 100% for plastic parts too. He said Reliance is good too.
I have my bike insured with Bajaj and prefer to go with them going by the feedbacks from others they seem to be good but I don't have any personal experience since I haven't made a claim until now.

Guys what are your opinions

rjvora_2000 · 10th April 2009, 17:21

Quote:

Originally Posted by zaks

My Palio Multijet's insurance expires in Jun and I have already got calls from Reliance with some quotes. The present one is TATA AIG and I paid about 15k when I bought the car and the IDV was 4.56L.
Now, Reliance called up and said they would offer me 30% discout + NCB if I renew with them. This looks attractive and I checked with my service station they have cashless with Royal Sundaram, Reliance, ICICI Lombard, Bajaj (coming soon) and some others.
I did checkout online quotes and Bajaj is quoting 10,445 and Royal Sundaram is quoting 8,547 which is quite low. They both mention approx 4L as IDV which is low I think.
My service station guys said that RS gives a better deal according to his experience with customers and also covers 100% for plastic parts too. He said Reliance is good too.
I have my bike insured with Bajaj and prefer to go with them going by the feedbacks from others they seem to be good but I don't have any personal experience since I haven't made a claim until now.

Guys what are your opinions

Plastic part's and 100% claimable?? Legally this is not possible... Ask him to give this in writing. If he give you anything in black and white please upload the same.

Bajaj is a good company when it comes to claim.

NK@Hyd · 15th April 2009, 00:38

Rupesh,

Just wanted to take a minute and thank you for your car insurance advice to all of us. A few months back, I had taken your advice on a discrepancy in my car insurance. I just got a refund of 900 bucks from HDFC Ergo, thanks to you.

rjvora_2000 · 15th April 2009, 16:11

Quote:

Originally Posted by NK@Hyd

Rupesh,

Just wanted to take a minute and thank you for your car insurance advice to all of us. A few months back, I had taken your advice on a discrepancy in my car insurance. I just got a refund of 900 bucks from HDFC Ergo, thanks to you.

Wow I am happy for you!!!

Very nice.

girish.r · 15th April 2009, 21:05

Hi Rupesh,

I bought Verna CRDI last May and insurance policy is due for renewal May 1st week. The then IDV was 717182 and it was insured with Bajaj.
A lady from some agency gave the following quotes for Reliance:
Current IDV: 645300 (10% of the last year IDV)
Current premium including 20% NCB and 40% discount from Reliance: 12200(by cheque) and 11676(by cash)
Current premium including 20% NCB from Bajaj: 14000(approx)

The insurance person at the dealer gave the following quotes:
Current IDV: 610000 which is 15% of the last year IDV and this person informed that for the second year it will be 15% depreciation and after completing 2 years the depreciation would be calculated at 10% every year. Is he correct?
Current premium including 20% NCB: 12506
He says that there is no discount as such going on from either Reliance or Bajaj & therefore 12506 is the same amount for both Bajaj and Reliance.

However my dealer has tied up with both Reliance and Bajaj.

Rupesh, I request you to provide info on the following:
1. whether the private agency would be more knowledgeable/professional or the dealer personnel
2. is it 10% depreciation every year or 15% for second year and 10% thereafter
3. is Reliance better/on par with Bajaj?

Thanks in advance,
Girish

lambuhere1 · 16th April 2009, 09:08

A wierd thought came into my mind.

Do we have anything in auto insurance [ like what we have in life insurance, called TERM POLICY ] lifelong payed insurance, wherein we can pay the premium amount only once and get the coverage for the life long of the car ?

Any ideas guys

aka_iitd · 16th April 2009, 10:54

girish if you car has hardly covered any distance may be within 10K I think you may ask for only 10% depreciation. Insurance company will agree.
Giving cash your insurance is reduced by 500 bucks. I think there is some catch.

8th April 2009, 01:18	#198
hdi_pro BHPian Join Date: Jan 2009 Location: Noida Posts: 93 Thanked: 3 Times	got some slight scratches on my bumper and slight dent.Can I claim insurance for repairing the dents and scratches. Thanks, hdi.
	() Thanks

8th April 2009, 12:29	#201
aka_iitd BHPian Join Date: Aug 2008 Location: Bangalore Posts: 630 Thanked: 45 Times	It's a time for my SX4 Insurance renewal and I can see the Schedule of premium is divided in 2 sections from Maruti insurance. One is Own damage which contains Vehicle and Accessories and other section is Liability.Liability has Rs. 2500 for Vehicle entry. I am not able to understand about Liability entry. Folks please shed some light on this. I cannot see this section in Bajaj policy for my Getz
	() Thanks

8th April 2009, 14:14	#202
Sha09mel BHPian Join Date: May 2008 Location: Mumbai Posts: 56 Thanked: 8 Times	Hi.. My insurance gets over today, mid-nite & Honda has recommended Future Generali India. Any suggestions as to how good is the company in terms of Insurance??
	() Thanks

10th April 2009, 10:36	#204
zaks BANNED Join Date: Jan 2008 Location: Bangalore Posts: 952 Thanked: 181 Times View My Garage	My Palio Multijet's insurance expires in Jun and I have already got calls from Reliance with some quotes. The present one is TATA AIG and I paid about 15k when I bought the car and the IDV was 4.56L. Now, Reliance called up and said they would offer me 30% discout + NCB if I renew with them. This looks attractive and I checked with my service station they have cashless with Royal Sundaram, Reliance, ICICI Lombard, Bajaj (coming soon) and some others. I did checkout online quotes and Bajaj is quoting 10,445 and Royal Sundaram is quoting 8,547 which is quite low. They both mention approx 4L as IDV which is low I think. My service station guys said that RS gives a better deal according to his experience with customers and also covers 100% for plastic parts too. He said Reliance is good too. I have my bike insured with Bajaj and prefer to go with them going by the feedbacks from others they seem to be good but I don't have any personal experience since I haven't made a claim until now. Guys what are your opinions
	() Thanks

15th April 2009, 00:38	#206
NK@Hyd BHPian Join Date: Dec 2008 Location: Hyderabad Posts: 52 Thanked: 3 Times	Rupesh, Just wanted to take a minute and thank you for your car insurance advice to all of us. A few months back, I had taken your advice on a discrepancy in my car insurance. I just got a refund of 900 bucks from HDFC Ergo, thanks to you.
	() Thanks

15th April 2009, 21:05	#208
girish.r BHPian Join Date: Jan 2008 Location: Bangalore/Hubli Posts: 111 Thanked: Once	Hi Rupesh, I bought Verna CRDI last May and insurance policy is due for renewal May 1st week. The then IDV was 717182 and it was insured with Bajaj. A lady from some agency gave the following quotes for Reliance: Current IDV: 645300 (10% of the last year IDV) Current premium including 20% NCB and 40% discount from Reliance: 12200(by cheque) and 11676(by cash) Current premium including 20% NCB from Bajaj: 14000(approx) The insurance person at the dealer gave the following quotes: Current IDV: 610000 which is 15% of the last year IDV and this person informed that for the second year it will be 15% depreciation and after completing 2 years the depreciation would be calculated at 10% every year. Is he correct? Current premium including 20% NCB: 12506 He says that there is no discount as such going on from either Reliance or Bajaj & therefore 12506 is the same amount for both Bajaj and Reliance. However my dealer has tied up with both Reliance and Bajaj. Rupesh, I request you to provide info on the following: 1. whether the private agency would be more knowledgeable/professional or the dealer personnel 2. is it 10% depreciation every year or 15% for second year and 10% thereafter 3. is Reliance better/on par with Bajaj? Thanks in advance, Girish
	() Thanks

16th April 2009, 09:08	#209
lambuhere1 BHPian Join Date: Oct 2005 Location: @ Driver's Seat @ Posts: 708 Thanked: 106 Times	A wierd thought came into my mind. Do we have anything in auto insurance [ like what we have in life insurance, called TERM POLICY ] lifelong payed insurance, wherein we can pay the premium amount only once and get the coverage for the life long of the car ? Any ideas guys
	() Thanks

16th April 2009, 10:54	#210
aka_iitd BHPian Join Date: Aug 2008 Location: Bangalore Posts: 630 Thanked: 45 Times	girish if you car has hardly covered any distance may be within 10K I think you may ask for only 10% depreciation. Insurance company will agree. Giving cash your insurance is reduced by 500 bucks. I think there is some catch.
	() Thanks