[Proxima]

Hi Rupesh, need some help.

My 14 months old Ikon got dented and I need to claim insurance to fix it. Its insured with United India insurance, and they dont have a cashless facility with Ford.

Got an estimate from Ford service and it was for 4k-parts and 11k-labor. Spoke to the service adviser and he told me:
1. Labor will be paid in full
2. Parts - 20% less than actuals
3. Labor is negotiable between service center and insurance guy. If the insurance guy feels that it is too much, he will reduce it and the service guys will accept it in most cases. very rarely, if they dont accept, they will inform the customer.

1 and 2 are fine. But not sure what are the implications of 3.

Also, now that I have got the estimate, what should I do next?

Advice will be greatly appreciated.

[rjvora_2000]

Originally Posted by Proxima

Got an estimate from Ford service and it was for 4k-parts and 11k-labor. Spoke to the service adviser and he told me:
1. Labor will be paid in full
2. Parts - 20% less than actuals
3. Labor is negotiable between service center and insurance guy. If the insurance guy feels that it is too much, he will reduce it and the service guys will accept it in most cases. very rarely, if they dont accept, they will inform the customer.

what should I do next?

You can get a copy from the garage itself of the labor charge which is approved by the surveyor. You have to pay that amount only which is approved by the surveyor, nothing extra. Eg. If for a particular work garage person is charging Rs. 100/- but surveyor has only approved Rs. 80/- in this case you have to pay Rs. 80/- only and nothing more.

1. Send the intimation to insurance company (Put your cell no. in the letter) Ask for the claim form if you don't have it with you.
2. Ask them to whom they have appointed as the surveyor.
3. When that surveyor visits your garage, be with him. (Keep original policy, Original RC book or Smart card, Original driving license and Claim form ready)
4. See what he is approving is alright or not.
5. Once your work is over pay full amount to the garage.
6. Submit all the bills to insurance company.
7. If everything is alright you will get the cheque in 15 to 20 day's time.

[Proxima]

Thanks Rupesh. Things are very clear now.

Not sure if I can be with the surveyor or not but will try. We know the insurance person very well, for many years, so if I cant be with him, Ill tell my insurance guy to put in a word to the surveyor.

[r_nairtvm]

Originally Posted by Proxima

Thanks Rupesh. Things are very clear now.

Not sure if I can be with the surveyor or not but will try. We know the insurance person very well, for many years, so if I cant be with him, Ill tell my insurance guy to put in a word to the surveyor.

Proxima,

Why the name Proxima? I am just curious of this as this connects with one of the basic Principles of Inurance - the Principle of " Causa Proxima"

Causa Proxima = Proximate Cause

This is very essential in analysis of Insurance Claims. The Cause/Event which caused the damage or the start of an unbroken chain of events which led to the damge (in simple terms).

Best Regards & Drive/Ride Safe

Ram

[bnzjon]

Originally Posted by rjvora_2000

Don't get confused my friend, Ask me same thing 10 times if you have any query in your mind. My perpose for running this thread is that only - To simplify the complications of insurance.

Coming back to your query; You will get the IDV in case of total loss claim but only if you have reduced it by minimum 10 % every year (Higher is better for insurance company and not for you.)

Thanks Rupesh.

One final question -Pls help me in choosing the right & beneficial IDV.
( premium calculated at 40 percent discount & 0 ncb)

Ex-showroom price of the car is 683,660.
Last year IDV was 649,000 (1st year - 95% of exshowroom).
CC - 1.4 litres

Case 1 :
IDV - 600,000
Premium - Rs. 14056

Case 2 :
IDV - 584100 (10 percent lesser than previous year & 85 % of exshowroom cost)
Premium - Rs. 13,710

Case 3 :
IDV - 551,650 (15 percent lesser than previous year & 80 % of exshowroom cost)
Premium - Rs. 13,005

Case 4 ;
IDV - Rs. 519,200 (20 percent lesser than previous year & 75% of exshowroom cost)
Premium - Rs. 12,300

[rjvora_2000]

Case 2 is the best option according to me.

All the best.

[vkochar]

Originally Posted by vkochar

I think I got a good deal finally. Bajaj Allianz it is still.

Got my 2nd year insurance for my Verna CRDi 2008 model done.

Insured value now is 6 lacs ( first year was 7.1 lacs ). Diesels depreciate faster according to the Insurance companies.

So at 6 lacs insured value - Premium is caculated at 3.19 % which comes out to 19,140.00 rupees.

On this I get a 30 % Discount from the insurance company
And Also I get a NCB of 20 %.

After adding the 3rd party Liability + PA Ins for 5 persons & VAT - The total figure came out to 13,100 Rupees !

Not bad considering I paid 22,000 Rupees the first year when I bought the car new.

THIS IS MY LAST YEAR'S QUOTE AND POST HERE ON THIS THREAD.

It's going to be that time again and I thought what better place to seek advise from.

The usual questions again -

Bajaj Allianz is what I should stick to.
NCB & Discount how much for this year ?

Thanks
Varun

[rjvora_2000]

Originally Posted by vkochar

Bajaj Allianz is what I should stick to.
NCB & Discount how much for this year ?

I hope you don't have a claim in the last year, based on which you should be getting 25% NCB & bargain on the discount up to 40%, reduce the car value only by 10% compare to last year and not more. I will not recommend to change from Bajaj.

[bnzjon]

Originally Posted by rjvora_2000

Case 2 is the best option according to me.

All the best.

Thanks a lot Rupesh.

[vkochar]

Originally Posted by rjvora_2000

I hope you don't have a claim in the last year, based on which you should be getting 25% NCB & bargain on the discount up to 40%, reduce the car value only by 10% compare to last year and not more. I will not recommend to change from Bajaj.

Thanks for the quick reply.

No Claim so far and I hope it stays that way

Should I not bargain for 30 - 35 % NCB and 45 % Discount ? I have heard people do that and they usually give in. Also I just got my Accent renewed and they gave me a very good deal in March. I think I did post the details here.

[rjvora_2000]

Originally Posted by vkochar

Should I not bargain for 30 - 35 % NCB and 45 % Discount ?

NCB is something which can not be bargained for. They go steep by steep. You can only bargain on the other discount, which is higher the better. Since you are driving a diesel car I don't think you will get more then 40% discount.

If you get more go for it.

[vkochar]

Originally Posted by rjvora_2000

NCB is something which can not be bargained for. They go steep by steep. You can only bargain on the other discount, which is higher the better. Since you are driving a diesel car I don't think you will get more then 40% discount.

If you get more go for it.

OK. Let me see what I am offered and will share here. Thanks again Rupesh for all the help.

[SuperSelect]

Hi,
My car's insurance has expired - I forgot to renew it - As the car is very old and not used regularly except maybe a short drive once in a month..
What would be the procedure for getting things in order ?
Please help !!

[rjvora_2000]

Originally Posted by SuperSelect

Please help !!

First thing!!! You don't have to say please to me.... As we are friends Right?

You need to take your car to any of the government insurance company's office near to your home along with RC copy and tell them to issue a TP policy. Remember only government insurance companies issue TP policy.

Insuring your car is a privilege to an insurance company and advising you is mine.

[rajakumar]

Originally Posted by rjvora_2000

N You can only bargain on the other discount, which is higher the better.

What is other discount? Is it related voluntary excess?

My 2008 Swift insurance renewal is due. I am with Maruti insurance (on back end it is National insurance). I got the following quote

Quote 1:
======
IDV: 3,09,000 (10% less than the prev IDV)
Own Damage premium (@2.46%) = 7600
NCB (@25%) = -1900
Sub Total = 5700

Third party premium = 925
Sub Total = 6625

Service tax (10%) = 662

Premium total = 7287
(In this case there is no voluntary excess)

Quote2:
======
Where as Bajaj Allianz gives me the following quote
IDV: 2,98,974
Own Damage premium = 4562 (this includes the NCB + OD)
Third party premium = 900
Sub Total = 5462
Service tax (10%) = 563

Premium total = 6025

BA is not revealing the voluntary excess, saying it is company confidential.

Rupesh, Which one should I go for?