[ghodlur]

Originally Posted by abishek2222

Could someone take a look at my last years insurance quotation and present renewal quotation. The IDV seems to be increasing for renewing this year over last year for the bmw secure which is the add on insurance.Also something was said about the qoute being valid until 31st march. Please advise if it's better to shift from present Bmw bajaj allianz to another insurance company instead.

Looking at the two quotes, the IDV has dropped not increased 18.48 to 17.46L. Except that the IDV should have ideally in the 16.63L range. The quote was valid upto 31st march on the basis of the old TPL rates. Now the new TPL rates are applicable which in your case would Rs 4109. Get a revised quote and buy Insurance from Insurer who have cashless tie up with BMW workshop.

[abishek2222]

Originally Posted by ghodlur

Except that the IDV should have ideally in the 16.63L range.

Thank you sir for that response, what points can i specifically ask for like lower IDV value when i ask for quotes from other insurance companies. looking at it from my perspective after one year i still end up paying round about a lakh for last year and again this year to renew it as they have increased the cost of the addon insurance.

[ghodlur]

Originally Posted by abishek2222

Thank you sir for that response, what points can i specifically ask for like lower IDV value when i ask for quotes from other insurance companies. looking at it from my perspective after one year i still end up paying round about a lakh for last year and again this year to renew it as they have increased the cost of the addon insurance.

Check for premium based on correct IDV, NCB% and other discounts offered on the Insurance premium. Negotiate to get the other discounts same as last year. Also enquire with other BMW owners if you really need BMW secure add on. Wouldnt the add ons available along with the comprehensive Insurance still serve purpose. Would BMW Secure add on have its own options within?

[abishek2222]

Originally Posted by ghodlur

Negotiate to get the other discounts same as last year. Also enquire with other BMW owners if you really need BMW secure add on. Wouldnt the add ons available along with the comprehensive Insurance still serve purpose. Would BMW Secure add on have its own options within?

How exactly is IDV calculated is it done by the insurance company based on their valuation. Secure would be helpful in case of a major crash as most plastic and rubber parts would be prohibitively very expensive in this car and would completely cover everything, how ever they are giving secure only for the first 4 years after which the additional 2 years thereafter would not cover a total claim loss. This would be my 4 year renewal.the service center is also saying they can give me additional quotes from icici also which I have asked for.

[ghodlur]

Originally Posted by abishek2222

How exactly is IDV calculated is it done by the insurance company based on their valuation. Secure would be helpful in case of a major crash as most plastic and rubber parts would be prohibitively very expensive in this car and would completely cover everything, how ever they are giving secure only for the first 4 years after which the additional 2 years thereafter would not cover a total claim loss. This would be my 4 year renewal.the service center is also saying they can give me additional quotes from icici also which I have asked for.

So Secure is almost similar to the Zero dep add ons provided by most Insurers. Can you kindly post the wordings of the Secure if possible for the benefit of the forum.

[satyamkaushik]

The current insurance policy of my car with Future Generali expires on 8/4/14 & I am in a state of confusion regarding this.
These are the quotes that have got:

Car: Hyundai Santro Xing
Year: 06
IDV: RS. 1,60,000
NCB: 20%

Premium: Hdfc 5150
Sbi 5200
Iffco Tokio 5520.

Which one should I opt for ?

Apart from this the other query that I have is, That it's been more than a year now that the windscreen on my car is cracked. Though it isn't causing me any problems while driving, but I was still thinking of getting it replaced.
Shall I take a claim for the windscreen or shall I pay for it out of my own pocket ?
The rough estimate that has been given to me for the windscreen is between 4-5K. I understand taking a claim will result in losing the NCB.

What as per you would be the right move ?

Thanks in advance

[ghodlur]

Originally Posted by satyamkaushik

Premium: Hdfc 5150
Sbi 5200
Iffco Tokio 5520.

Which one should I opt for ?

Shall I take a claim for the windscreen or shall I pay for it out of my own pocket ?

Are these online quotes or provided by the dealer/workshop? If provided by workshop then we can assume these Insurers have a cashless tie up with Hyundai workshop. If still in doubt re check the quotes from Insurers online. Pls note lowest quotes doesnt mean good service, enquire with workshop which of these Insurers have the best claim settlement record.

Regarding the windshield, it looks clearly from the premium amount that the NCB amount saved will be lesser than the windshield repair expenses. So either get it repaired ASAP or else renew the premium and claim the windshield repairs with the Insurer provided you can run the car with the damaged windshield till the renewal and claim lodging date.

[satyamkaushik]

Originally Posted by ghodlur

Are these online quotes or provided by the dealer/workshop? If provided by workshop then we can assume these Insurers have a cashless tie up with Hyundai workshop. If still in doubt re check the quotes from Insurers online. Pls note lowest quotes doesnt mean good service, enquire with workshop which of these Insurers have the best claim settlement record. Regarding the windshield, it looks clearly from the premium amount that the NCB amount saved will be lesser than the windshield repair expenses. So either get it repaired ASAP or else renew the premium and claim the windshield repairs with the Insurer provided you can run the car with the damaged windshield till the renewal and claim lodging date.

These quotes were given to me by the agent through whom I get the policies renewed.
The crack on the windshield is a single line crack that is about 10-11 inches in length (on the top, going horizontally from the passenger side to the driver side), and isn't causing any major troubles to me. It's just the aesthetic aspect which makes me think about replacing the windshield.
Though I don't know the exact calculation but, I suppose the NCB saved this year would lead to a lower premium in the future renewals.
I called up windshield experts today, they gave me a quote of Rs.5700 If I get it done on my own & Rs.1600 if I get it done through insurance.

Is it really worth to take a claim for just a windshield or save the NCB for future renewals ? That's the question.

In the meanwhile I will check for online quotes too.

[abishek2222]

Originally Posted by ghodlur

Can you kindly post the wordings of the Secure if possible for the benefit of the forum.

BMW Secure
BMW Secure is a unique product offered to BMW customers who have purchased motor insurance products through BMW India.

1. BMW Secure offers you protection in case of total damage within one year of the purchase of your vehicle, or upon renewal. In the event of total loss, not only will your car be replaced with a new car of the same type*, BMW India will also cover all costs of registration, tax and insurance thereby incurred. This top-end product continues to cover the new replacement vehicle, as well.

2. BMW Secure is a one-of-a-kind product in India as it covers the difference in price of the parts that need to be replaced as a result of an accident. We thereby relieve you of the additional burden of paying for the price difference due to the value depreciation of the parts**.

3. BMW Secure also provides replacement tyres for your car in case of a puncture/ cuts/ bulge/ burst***.

*For earlier models this service is subject to local availability.
**To avail of these facilities, the vehicle must be serviced/repaired at BMW authorized dealerships
(Kindly Note: Tyre ’s & Alloys claims, depreciation charges are applicable)

Policy Excess: Rs.2000/- for each claim you make.

BMW Secure Ultimate Coverage’s ;

Tyre Replacement Cover With Depreciation Up to 3mm For Damages Only
Alloy Replacement Cover With Depreciation
Depreciation & Consumables Cover
Key Lock Out Assistant Maximum Limit INR 20000/..
Roadside Assistant Coverage
Engine Shield Cover
In case Of Total Loss Car Replacement Benefit

[F50]

Originally Posted by Grr7

Just wish to know the technicalities of some insurance expert of how wrong is company in denying claim to me on this dual diary entry aberration grounds. And, if I, as a customer of policy be held accountable for the goof up in the diary entries filed by some incompetent policeman.

Regards

Sorry for the late reply. But I wouldn't say the insurance company is completely wrong in denying your claim. They have proof of mis-representation of facts i.e. two conflicting statements in Police diary. They are actually showing you the rule book.

On the second point yes, you as a customer cannot be held responsible for the goof up of dual entries. Many times the truck drivers are smart, they pay a bit of money and the entries are changed. Same might have happened in your case.

I would once again request you to go to Ombudsman, (Grievance will never reply) its a (almost) year old claim. You don't have to wait further. Represent your case, stating you were completely unaware about the first entry and as far your knowledge goes there is no requirement of FIR or police entry when a private car meets with an accident and no third party is involved. Oriental insurance asked for such requirement despite no third party loss/injury and you did it thinking as a formality. Request them to please settle the claim and you had no intentions of making a claim out of nothing.

[androdev]

@abishek2222 The cost of BMW Secure add-on will increase every year. See the sample figures in this post:

http://www.team-bhp.com/forum/test-d...ml#post2722596

When a new car replacement claim is to be fulfilled due to "total loss" - regular insurance pays IDV and Secure pays "new car price - IDV", so obviously the Secure premium will go up as the car ages if "new car replacement" feature is offered.

[abishek2222]

Originally Posted by androdev

@abishek2222 The cost of BMW Secure add-on will increase every year. See the sample figures in this post

Yes i understand that this is my 4th year renewal. I understand that after the 4th year secure no longer applies, but they did say they have something similar i don't know what it is called but it lacks the total loss coverage after 4th year.i have already replaced the rft to tubeless so i don't see much difference in sticking to secure other than for total loss coverage.

Originally Posted by ghodlur

So Secure is almost similar to the Zero dep add ons provided by most Insurers.

After this years renewal i will definitely have to change the insurance company for next year or i could change it this year itself would you suggest i stick with secure for the total loss coverage until the 4th year or shift to another insurer now itself instead waiting till next year.The workshop service adviser says shifting to icici would be ok as they have cashless tie up, i am yet to get a quote but i believe it would work out cheaper.

[ghodlur]

Originally Posted by abishek2222

would you suggest i stick with secure for the total loss coverage until the 4th year or shift to another insurer now itself instead waiting till next year.The workshop service adviser says shifting to icici would be ok as they have cashless tie up, i am yet to get a quote but i believe it would work out cheaper.

You need to strike a balance ebtween the cost of the Insurance and that peace of mind. If peace of mind weighs more, simply opt for BMW secure. If cost needs to be contained, then think of other Insurance cos. Since you will not be in a dilema next year, suggest you opt for the peace of mind with BMW secure.

Personally I am not a fanboy of ICICI (any products for that matter), hence wouldnt comment on that.

[vharihar]

We recently purchased L&T insurance (thru policybazaar.com) for our 3 year old Hyundai i10. Got the policy# via email.

Is there an online portal at L&T insurance where I can register/login and see my policy? Tried looking but couldn't find it.

[GrammarNazi]

A guy from Policy Bazaar tells me that as per IRDA, the IDV of the car reduces by 10% Written Down Value every year from Original Ex-SR Price, and that no matter how high the IDV I insure the car for, I'll only get that value as per IRDA rules. True?

Car : Fiat Linea
Model : Emotion 1.3mjd
Mfg Year : May, 2009.
Owner : 2nd Owner (So no NCB).
Previous owner insured it with BhartiAXA for an IDV of Rs.4,55,000/-
Now for me BhartiAXA is quoting ~11,000/- (with RSA) IDV : 4,09,500/-

Royal Sundaram is quoting ~12,400/- (with RSA) IDV : 4,87,000/-

Whom should I go with?