[amit_mechengg]

my indica has been stolen. in the FIR the price mentioned is 2 lacs while on the insurance papers the IDV is 2.82 lacs. how much amount will the insurance company give me? the insurance is from icici lombard

[rjvora_2000]

Originally Posted by vcash

Hi Rupesh,
I just bought a used 2002 Palio in mumbai and the car is currently registered in Pune. The owner had not renewed his Royal Sundaram insurance and the car currently has no cover. Since a NOC is required to transfer the car in the Mumbai RTO, it will take 15 to 20 days to get the RC book stampped and transferred in my name.

In the meantime I would like to get TP or Comp insurance in my name so I can drive the car. Would I be able to do this? If not, what are my option.

Thanks!
V

There is one form which you must have submitted to RTO no. 29. This form's xerox copy along with RC book's xerox copy you can give it to insurance company and they will give you the policy in your name.

Originally Posted by amit_mechengg

my indica has been stolen. in the FIR the price mentioned is 2 lacs while on the insurance papers the IDV is 2.82 lacs. how much amount will the insurance company give me? the insurance is from icici lombard

How come this happen??? you must have done this. You need to keep mum right now. if insurance company pay you the claim full then you don't need to do anything. If you have bad luck and since it is Icici they might, I am saying they might give you cheque of rs. 2 lacs then you need to tell them that since you were shocked so much that you only gave the statement of rs. 2 lacs to police which is written in the fir.

They should and they have to make you the payment in full.

[amit_mechengg]

Originally Posted by rjvora_2000

How come this happen??? you must have done this. You need to keep mum right now. if insurance company pay you the claim full then you don't need to do anything. If you have bad luck and since it is Icici they might, I am saying they might give you cheque of rs. 2 lacs then you need to tell them that since you were shocked so much that you only gave the statement of rs. 2 lacs to police which is written in the fir.

They should and they have to make you the payment in full.

no this incident occurred when my driver was in the car , refer my thread for details
http://www.team-bhp.com/forum/street...en-panvel.html

the driver narrated the incidence. the police himself wrote the value as 2 lacs. later on in the tensed situation i dint read the entire details and got the FIR as it is to pune. now my dad pointed out that the amount written is 2 lacs.

then i checked the insurance papers. its written as 2.82 lacs. i have registered a claim over the phone and i have got a motor claim number. now the insurance agent will call me up and get me through the next procedure.

what all do i need to keep on hand so that i am not tricked by ICICI Lombard. shall i drive back to panvel and get a fresh FIR again?

[ravibhat]

Hello Expert, I need your guidance to renew the Insurance for the ore owned car I am buying. Insurance is due in couple of weeks. I have received 2 quotation from two different insurance companies.

Company A which is present insurance provider for the vehicle offered 3k more than Company B and both companies provide cashless facility, so service offered is same! just in case of claim in future. I have checked that with service stations as well. Also just few days back owner has claimed Insurance which is settled as cashless easily (I have processed the entire process on behalf of owner and all he did is sign the papers).

I wanted to know shall I go with company B or stick to company A even though its 3K more.

Regards

Ravi.

[rjvora_2000]

Originally Posted by amit_mechengg

no this incident occurred when my driver was in the car , refer my thread for details
http://www.team-bhp.com/forum/street...en-panvel.html

the driver narrated the incidence. the police himself wrote the value as 2 lacs. later on in the tensed situation i dint read the entire details and got the FIR as it is to pune. now my dad pointed out that the amount written is 2 lacs.

then i checked the insurance papers. its written as 2.82 lacs. i have registered a claim over the phone and i have got a motor claim number. now the insurance agent will call me up and get me through the next procedure.

what all do i need to keep on hand so that i am not tricked by ICICI Lombard. shall i drive back to panvel and get a fresh FIR again?

Dear Friend,

I am very sorry for my earlier reply where I blamed you directly for informing wrong thing to police.

My apology for the same.

Coming back to insurance since the value which is written in the Police FIR was take at that time when your driver's mind set was really bad. He was bitten by those No-hearted people. Now you have options: - Give this thing in writing to insurance company and ask them to reply if they need the correction in FIR?

I think this is the best way to get an reply from the person who need to make you the payment.

You can talk to me any time I will PM you my cell no.

[rjvora_2000]

Originally Posted by ravibhat

Hello Expert, I need your guidance to renew the Insurance for the ore owned car I am buying. Insurance is due in couple of weeks. I have received 2 quotation from two different insurance companies.

Company A which is present insurance provider for the vehicle offered 3k more than Company B and both companies provide cashless facility, so service offered is same! just in case of claim in future. I have checked that with service stations as well. Also just few days back owner has claimed Insurance which is settled as cashless easily (I have processed the entire process on behalf of owner and all he did is sign the papers).

I wanted to know shall I go with company B or stick to company A even though its 3K more.

Regards

Ravi.

Raviji if your company B is not Icici or Reliance then you can go for them as you are saving money. Don't insure with those two company.

[longford]

Originally Posted by amit_mechengg

no this incident occurred when my driver was in the car , refer my thread for details
http://www.team-bhp.com/forum/street...en-panvel.html

the driver narrated the incidence. the police himself wrote the value as 2 lacs. later on in the tensed situation i dint read the entire details and got the FIR as it is to pune. now my dad pointed out that the amount written is 2 lacs.

then i checked the insurance papers. its written as 2.82 lacs. i have registered a claim over the phone and i have got a motor claim number. now the insurance agent will call me up and get me through the next procedure.

what all do i need to keep on hand so that i am not tricked by ICICI Lombard. shall i drive back to panvel and get a fresh FIR again?

If you have read all the 35 pages of post, you know by now that you are having one insurer who has been strongly advised against. Adn in one of the experiences post, Rupesh mentioned what the managers thought. Hope and pray you are not THE one of the ten legit but reject cases.

The FIR that you have is fine and the co will take the IDV in the policy document as the value. Make sure you avail of the zero salvage deduction that they claim as their advantage over competitors.

So far you are doing all fine man. Just wait for the process to get done.

[rjvora_2000]

Originally Posted by longford

Make sure you avail of the zero salvage deduction that they claim as their advantage over competitors.

There is noting like salvage in total loss claim insurer has to give the IDV in full only thing which they deduct is the excess. Which will be written in the policy document.

[longford]

Rupesh,

I am also in the throes of the insurance renewal due on 8th Nov. I have laboriously read all the preceding 35 pages and I must commend you on your patience, hardwork in replying to most of the queries.

Last year I read through the full IMT and renewed with Tata AIG falling for their service coupon/voucher charms. This year I am more than aware of their tricks.

Car Make : Hyunday Accent GLX 2001
Last year IDV - 233847

This year, I have got quotes for IDV ranging from 208000 to 272000.
The IDV, I understand, beyond the 5th year is largely a value the insured is comfortable with. So IMHO, I think 225000 is a fair value on road today.
But have taken quotes for 225 and 250k

Bajaj has quoted the following
IDV 250k ,
OD 5913 after 30% disc
NCB 50%

Public Liability
TP 800
PA 100
Driver 25
PA unnamed 250

Total - 4563

Chola has quoted
IDV 215k ,
OD 5043 after 35% disc
NCB 50%

Public Liability
TP 800
PA 100
Driver 25
PA unnamed 100

Total - 3911

Bajaj made a counter offer for the same IDV
IDV 218k ,
OD 5913 after ??% disc
NCB 50%

Public Liability
TP 800
PA 100
Driver -
PA unnamed -

Total - 3896

Which in your opinion do you think is the better offer?

I am leaning towards the 250k offer of Bajaj though its about 800 bucks more, but has 30% disc +50%NCB with a higher IDV.

Or is it relatively/proportionately more expensive compared to the lower IDV valuation quotes?

Appreciate your thoughts on this matter.

Also, the bajaj guys are quite slow in their responses. Had to call up the call center to get them to chat.
ICICI quoted 4142 for 231k and the lady seemed ignorantly boisterous claiming that no one in the market was giving road side assistance, depite telling her to check her knowledgebase on bajaj and chola. Then ranted that both aig and chola have specifically mentioned that VED is compulsorily effected on all renewal notice. How would I know?
AIG still has not sent me a renewal notice! And a fella called up 3 weeks ago telling me that I have to renew my policy with them. What guts to call me and twist me. Instantly, I told them to send the quote. two weeks down another fella calls me and gives me a quote for 215k @ 4410. Told him to let me know on the past years failed promise on the service book and the holiday voucher and then I MAY consider.
Quotes on policy bazaar had Reliance the clear edge followed by the 4 psus. AXA was also quite expensive for the 208k valuation at almost 5k!

[ravibhat]

Thanks a lot Rupesh for quick answers. I don't deal with them (R or I). Service centre guys have approved company B as well and I checked with owners they provide cashless. So I will bargain some more and go head with company B. I have used company B in the past for my Innova for 2 years and I didn't claim anything so I will try for more discounts

Regards,

Ravi.

[rjvora_2000]

Originally Posted by longford

Bajaj has quoted the following
IDV 250k ,
OD 5913 after 30% disc
NCB 50%
Public Liability
TP 800
PA 100
Driver 25
PA unnamed 250

Total - 4563

Chola has quoted
IDV 215k ,
OD 5043 after 35% disc
NCB 50%
Public Liability
TP 800
PA 100
Driver 25
PA unnamed 100

Total - 3911

Bajaj made a counter offer for the same IDV
IDV 218k ,
OD 5913 after ??% disc
NCB 50%
Public Liability
TP 800
PA 100
Driver -
PA unnamed -

Total - 3896

Which in your opinion do you think is the better offer?

Also, the bajaj guys are quite slow in their responses. Had to call up the call center to get them to chat.
ICICI quoted 4142 for 231k and the lady seemed ignorantly boisterous claiming that no one in the market was giving road side assistance, depite telling her to check her knowledgebase on bajaj and chola. Then ranted that both aig and chola have specifically mentioned that VED is compulsorily effected on all renewal notice. How would I know?
AIG still has not sent me a renewal notice! And a fella called up 3 weeks ago telling me that I have to renew my policy with them. What guts to call me and twist me. Instantly, I told them to send the quote. two weeks down another fella calls me and gives me a quote for 215k @ 4410. Told him to let me know on the past years failed promise on the service book and the holiday voucher and then I MAY consider.
Quotes on policy bazaar had Reliance the clear edge followed by the 4 psus. AXA was also quite expensive for the 208k valuation at almost 5k!

I don't know why but I have noted one thing that Tata is very slow as far as Mumbai is concern in doing business. Policy bazaar is good looking website but their quotes are not right they give lot of wrong information also. I have tried them in past was not very happy.

The second quote which came from bajaj is misleading as I think what they have done is given the discount 35% and Rs.0 for un-name p.a.

You tell Bajaj and Chola I need quote on 225000 IDV and then compare both of them. let me tell you Chola is also doing good as far as Mumbai is concern. They have little bit of IT problem but that's OK their service is still good in claims.

[tez]

Hi Rupesh, my car(Swift VDi) insurance is up for renewal next month. I have received quotes from Bajaj, ICICI and Tata AIG. Bajaj is one quoting the least premium for IDV of 4,27,000. They have also clarified that they have considered 0 voluntary excess.
Tata AIG is giving a premium of 13K but with an add-on of 0% depreciation. As per the Tata aig guy, any fibre, glass etc pieces will not attract any depreciation(which is around 50%) and will be fully reimbursable. This is obviously with an extra amount of around 3000.
Do you have an idea if there is a new add on like mentioned above from bajaj? Do you advise going for this add-on and what things i need to be aware of while going for this.

Both are quoting the premiums with 30% discount and no NCB as i had a claim.

Kindly advise if i need to look into any other things other than the above discount. I heard something called salvage and i have no idea what it is and what amount it should be ideally in an insurance policy?


and last but not the least kudos for the advice that you are giving to tbhpians.

[rjvora_2000]

Originally Posted by tez

Hi Rupesh, my car(Swift VDi) insurance is up for renewal next month. I have received quotes from Bajaj, ICICI and Tata AIG. Bajaj is one quoting the least premium for IDV of 4,27,000. They have also clarified that they have considered 0 voluntary excess.
Tata AIG is giving a premium of 13K but with an add-on of 0% depreciation. As per the Tata aig guy, any fibre, glass etc pieces will not attract any depreciation(which is around 50%) and will be fully reimbursable. This is obviously with an extra amount of around 3000.
Do you have an idea if there is a new add on like mentioned above from bajaj? Do you advise going for this add-on and what things i need to be aware of while going for this.

Both are quoting the premiums with 30% discount and no NCB as i had a claim.
Kindly advise if i need to look into any other things other than the above discount. I heard something called salvage and i have no idea what it is and what amount it should be ideally in an insurance policy?
and last but not the least kudos for the advice that you are giving to tbhpians.

Thank you for your kind words.

Bajaj also has a product which is 0 Dep. product. Please ask the sales guy the details of that product. Tata's product is also good. I myself is impressed with Chola's 4 different plans please see the details on their website also.

Salvage is something which is an debatable issue with insurance company if they deduct from your claim amount. But it is wrong they have to take the salvage with them, we should not be paying for that.

[longford]

Originally Posted by rjvora_2000

I don't know why but I have noted one thing that Tata is very slow as far as Mumbai is concern in doing business. Policy bazaar is good looking website but their quotes are not right they give lot of wrong information also. I have tried them in past was not very happy.

The second quote which came from bajaj is misleading as I think what they have done is given the discount 35% and Rs.0 for un-name p.a.

You tell Bajaj and Chola I need quote on 225000 IDV and then compare both of them. let me tell you Chola is also doing good as far as Mumbai is concern. They have little bit of IT problem but that's OK their service is still good in claims.

I called chola but they have this single call number and they say they will call back. which did not happen.

So its Bajaj for me. Taking the 250k offer for 4500 bucks.
Thanks for your help, Rupesh.

please tell me one more thing.
The PA for 5 unnamed passengers is 250 bucks for 1L coverage per person.
Now risk coverage is for anybody who has a valid driving license right? SO, if owner driver and paid driver is covered, why do i need 5 people coverage? The bajaj lady indicated that only me and "paid" driver is covered in the additional TP liability. But wife or any other friend drives the car, it is for their coverage and 4 other passengers.

Though I understand that this cover is purely optional, I am not very sure if I understood it correctly and don't mind having that additional cover on.
Please advise.

[black12rr]

If a second hand car is purchased , can the insurance be transferred before the registration is transferred on RC book ?
PS :The insurance is valid and in force still .

Also will the NCB of that person can be transferred to me in the next renewal ?