[Arjun Reddy]

Originally Posted by Nonstop-driver

My 2 month old Creta got rear ended today. The rear bumper will probably need a replacement. My SA told it costs about 7000 with paint and all. I've a zero dep policy. Would it be advisable to forgo future NCB and claim insurance now?

Generally I'm a very safe driver and haven't claimed insurance in previous car in 6 years of ownership I've had with it.

My advise is to pay for this from your pocket as it's a minor replacement. The car is still in its first year. If you claim now you may end up losing a lot more money in NCB over the next 5/6 years.

[hserus]

Originally Posted by Arjun Reddy

My advise is to pay for this from your pocket as it's a minor replacement. The car is still in its first year. If you claim now you may end up losing a lot more money in NCB over the next 5/6 years.

It may be a few thousand cheaper if you find a good local garage and get the bumper tinkered rather than having it replaced.

[aravind.anand]

I have a 2012 registered Fiesta, for which I paid about 14,800 for insurance to IFFCO-Tokio and got it renewed. I have a NCB of 50% and haven't made a claim ever. Now, if I go and make a claim this year, will my NCB go to zero, and start accumulating slowly from there? or would it go to 40% for my next renewal?

[dailydriver]

Originally Posted by hserus

It may be a few thousand cheaper if you find a good local garage and get the bumper tinkered rather than having it replaced.

Going by the pictures posted here, complete replacement seems to be the only option.

@Nonstop-driver, if the value of NCB loss exceeds the cost of repair, get the damage mended with your own funds and vice versa.

OT: Hurts to see the shattered bumper.

Originally Posted by aravind.anand

..would it go to 40% for my next renewal?

The post claim NCB will be zero.

On the brighter side, since you have already reached 50%, next year's premium would not have been subsidized further even without the proposed claim, as the maximum NCB is 50%. .

[handsofsteel]

Originally Posted by Nonstop-driver

My 2 month old Creta got rear ended today. The rear bumper will probably need a replacement. My SA told it costs about 7000 with paint and all. I've a zero dep policy. Would it be advisable to forgo future NCB and claim insurance now?

Generally I'm a very safe driver and haven't claimed insurance in previous car in 6 years of ownership I've had with it.

Had a doubt on similar lines. What would be the depreciation hit on the bumper if the vehicle is less than a year old? Even if it's not a zero dep policy. (as to my understanding, depreciation on plastics is zero till 6 months)

[Nonstop-driver]

Originally Posted by Arjun Reddy

My advise is to pay for this from your pocket as it's a minor replacement. The car is still in its first year. If you claim now you may end up losing a lot more money in NCB over the next 5/6 years.

That's what I want to understand. Won't the NCB start accumulating from 3rd year onward if I don't make a claim in the 2nd year?

Originally Posted by hserus

It may be a few thousand cheaper if you find a good local garage and get the bumper tinkered rather than having it replaced.

Originally Posted by dailydriver

Going by the pictures posted here, complete replacement seems to be the only option.

@Nonstop-driver, if the value of NCB loss exceeds the cost of repair, get the damage mended with your own funds and vice versa.

OT: Hurts to see the shattered bumper.

Hserus, not an option for me; Dailydriver, thanks for cross posting. Besides 2 parking sensors will need replacement too and some work on the boot door.

Originally Posted by handsofsteel

Had a doubt on similar lines. What would be the depreciation hit on the bumper if the vehicle is less than a year old? Even if it's not a zero dep policy. (as to my understanding, depreciation on plastics is zero till 6 months)

How does this work? Depreciation hit means next year the IDV will be lower than maximum possible IDV? Current IDV is 95% of the cost of a new vehicle.

[handsofsteel]

Originally Posted by Nonstop-driver

That's what I want to understand. Won't the NCB start accumulating from 3rd year onward if I don't make a claim in the 2nd year?

How does this work? Depreciation hit means next year the IDV will be lower than maximum possible IDV? Current IDV is 95% of the cost of a new vehicle.

Yes, it will start accumulating the year you do not make a claim.

What I meant by a depreciation hit was in the bill to be footed. On plastics and glass etc, only 50% of the book is paid due to depreciation (that's where a zero dep policy comes in). My doubt arose as I was told recently that in case of bumper damage within the first year ( in case of some policies, 6 months), there's no depreciation as that starts only after a certain period. Gurus may kindly clarify.

[Nonstop-driver]

Met the SA and ordered the visibly damaged parts, although the survey is pending. Apparently, the dicky cannot be repaired so that will be replaced too. Makes sense to claim insurance then. SA also felt that there is no structural damage.

Also learnt from someone that some insurance companies offer upto 90% discount on own damage part of the insurance premium to chartered accountants. In that case, NCB becomes irrelevant for me since that is also calculated on own damage part (correct me if I'm wrong).

Originally Posted by handsofsteel

What I meant by a depreciation hit was in the bill to be footed. On plastics and glass etc, only 50% of the book is paid due to depreciation (that's where a zero dep policy comes in). My doubt arose as I was told recently that in case of bumper damage within the first year ( in case of some policies, 6 months), there's no depreciation as that starts only after a certain period. Gurus may kindly clarify.

I've a New India Zero Dep policy. It's a 2month old vehicle. SA confirmed that there will no depreciation and I'll be paying the minimum amount (2500) that is payable in case of any claim.

[Pancham]

Originally Posted by Nonstop-driver

I've a New India Zero Dep policy. It's a 2month old vehicle. SA confirmed that there will no depreciation and I'll be paying the minimum amount (2500) that is payable in case of any claim.

It's a zero depreciation policy so it doesn't matter if it's a 2 month or 2 years. You will have to pay the minimum amount only.

[Endofdayz]

hi All,

My car Hyundai Verna is up for insurance renewal. this year i had made one claim. however have noticed that insurance premium is very high. Query i have is does zero dep insurance makes sense since its been 3 years now ? if not i can save some amount there. please suggest.

[centaur]

Can an insurance provider reject a claim because the address on the RC and insurance do not match? Owner is the same, vehicle is the same. Just the address is different. Any pointers would help

[centaur]

Originally Posted by centaur

Can an insurance provider reject a claim because the address on the RC and insurance do not match? Owner is the same, vehicle is the same. Just the address is different. Any pointers would help

Any help guys?

[ayankm]

Hello guys, I have a query regarding the different IDVs I am getting while trying to renew the insurance. The vehicle in question is a Eon 1.0 and this is the 2nd year insurance renewal.

The 1st year IDV was 3.13L. (Yeah it was a bit stupid of me to not check the insurance the dealer was giving me.)
This year I am getting an IDV 3L from Hyundai insurance renewal team.
From online renewals, the IDV ranges between 3.4 - 3.8L.
I am a bit confused here since I am not sure which value to go with. The Hyundai team keeps on saying that IDV baseline for the 2nd year renewal should be the 1st year's IDV. They are also saying things like claims can get rejected if 2nd year IDV is greater than 1st year IDV. Is this true?

Should I go with the IDV given by Hyundai team or should I go with the ones I am getting online? I am a little confused here.
Can anyone recommend any good agent in Bangalore for insurance renewal, please?

Thanks in advance.
A.

Originally Posted by centaur

Any help guys?

Ideally they should not.
My RC is registered to a different address than where I am currently staying.
I had a claim for an accident that happened after I changed house.
The surveyor didn't ask anything about different addresses or anything. Claim was approved.

Hope this helps.
A.

[HappyWheels]

Originally Posted by centaur

Can an insurance provider reject a claim because the address on the RC and insurance do not match? Owner is the same, vehicle is the same. Just the address is different. Any pointers would help

It does not matter. strange that such an excuse has been given, of all the things they could think of.

So, as per them, what should people staying at rented placed do?

[ghodlur]

Originally Posted by centaur

Can an insurance provider reject a claim because the address on the RC and insurance do not match? Owner is the same, vehicle is the same. Just the address is different. Any pointers would help

Although they might not reject the claim but definitely would want to know the reason for the different addresses. If there is a genuine reason, then the claim will be approved.
But it would be a good practice to notify the Insurance co of the change of address.

Originally Posted by ayankm

Should I go with the IDV given by Hyundai team or should I go with the ones I am getting online? I am a little confused here.

If there is a confusion of knowing the correct IDV, then the below calculation to be used:
Ex showroom rate of the model/variant times the depreciation in % depending on the years of ownership.

Why depend on the agent when you can buy the Insurance online?