[gkveda]

For my santro, I have been renewing the insurance before expiry date (07th May)since 2008. There has been NO claim so far. Always, it has been comprehensive Insurance so far.

Exactly similar to earlier years, Last May, I renewed the insurance on 5th May online with Coverfox and purchased Reliance Insurance Policy. Paid premium as per the quote with 50% NCB

Just 1 week back, I received an SMS stating that I need to pay around 860 Rs more since NCB is only 25% for my car.

I called them to understand when I have NOT claimed any insurance amount so far, and have been availing 50% NCB all through, why this time, it has been reduced.

The reply was surprising. They said, my earlier insurer (New India Assurance) has insured with only 25% NCB last year. Hence, it is 25% this year as well. If I pay 860, then, my insurance will be valid. Else, they said, I cannot claim on this policy.

1. How do you think I should handle this case. I do not know whom to catch in New India Assurance and as to why they have given only NCB of 25%.

2. Also, what happens if i ignore this message and claim if in case required, in future

[volkman10]

Only comprehensive insurance to cover submerged & damaged vehicles

Those vehicles which have comprehensive cover will be insured, irrespective of the vehicle being submerged or damaged.

The general insurance sector is anticipating claims in crores in the coming days with companies stating that only those who have a comprehensive vehicle insurance would be covered for losses and damages caused by natural calamities such as floods, cyclones and hailstorms.

Link

[coolboy007]

Bajaj Allianz has really irritated me to the limits this time, my 320D had its insurance with Bajaj for the past many years and it has a 50% NCB on it, i received a quotation on 24th regarding renewal as my policy was expiring on 29th Sept.

I made the premium payment online on 25 and ever since i have been running around these idiots trying to get my policy copy but they have been unable to issue the policy so far. Have sent multiple mails, calls but no respite.

Just had a long word with their supervisor and i told him that my policy would expire tomorrow, you have not issued the policy yet and you have my money also rendering me in a tight spot since i i do not know if i renew with some one else and then you also send me the policy, i would have paid 2 premiums for the same car.

That guy had the audacity to tell me to wait till monday, i told him point blank that you are telling me to keep and run my car uninsured for a day which is not acceptable. Thinking of filing a dispute with HDFC, complaining to ombudsman and then getting my car insured from some one else. Bajaj Allianz's service has really gone down to the drain, this is for renewing a policy which Bajaj had for past 3 years.

[bj96]

Originally Posted by coolboy007

Bajaj Allianz has really irritated me ... trying to get my policy copy but they have been unable to issue the policy so far...

BA is indeed facing some issues in their IT system. Just a couple of weeks ago, I had to renew my scooter's policy (it is a long term validity- 2 year policy). The link that they emailed me doesn't accept their own policy code (03-> long term two wheeler policy code) and the UI would not budge beyond step 1. Finally, I called their CRM, they generated a link from backend for me to pay the amount, which I did. Then I had to followup each day for almost upto a week to get the policy issued. Thank god I checked mParivahan app and the policy validity has been renewed there too, at last.

-BJ

[raystriker]

How do privately imported cars get insurance? And are the rates for those special case cars sensible?

[gkveda]

Originally Posted by gkveda

1. How do you think I should handle this case. I do not know whom to catch in New India Assurance and as to why they have given only NCB of 25%.

2. Also, what happens if i ignore this message and claim if in case required, in future

Guys
Can you please reply to this ?

[ghodlur]

Originally Posted by gkveda

Guys
Can you please reply to this ?

Forward them last year's Insurance policy where the NCB applicable is shown as 50%. If last year the NCB was 20% then Reliance is right is alloting 25% NCB if not then policy document shared will sort the issue.

I would suggest to not ignore the message and get a clarification before initiating claim

[prashkul]

I bought Honda Jazz in Oct-2018. Insurance was bought from dealer (bundled in the deal) where he gave me 1 year OD and 3 years TP insurance from National Insurance. As my car insurance is coming up for renewal, wanted to check if there's any benefit in renewing thru the dealer? I have sent an email to designated email address and called them, with no response to either. On the other hand, I've gotten a quote from National Insurance agent, who's offering me 20% NCB discount and some additional discount (due to tie-up with my org). Are there any risks in not renewing from dealer?

TIA,
Prashanth

[ghodlur]

Originally Posted by prashkul

As my car insurance is coming up for renewal, wanted to check if there's any benefit in renewing thru the dealer?
Are there any risks in not renewing from dealer?

The biggest benefit from renewing the insurance directly from the Insurance co is the huge savings in the premium payment. Even better if you can avoid the NI agent and buy it directly on their website. In any case if you had a claim free year, you will be eligible for 20% NCB.

[Pancham]

Guys, I am getting a Santro for my mother and am planning to purchase the insurance from Tata AIG which is for obvious reasons significantly cheaper than the showroom quotes. However, the TATA AIG guys suggested I take a 3 year comprehensive plan which again, is turning out to be way cheaper than buying insurance every year. The following are the quotes:

1. Premium for 1st year including Zero Dep. = INR 20222

2. Premium for 3 years year including Zero Dep. = INR 37925

I think its a no brainer to go for the 3 years one. But I wanted to check, is there any catch? will I be at any sort of disadvantage if get the 3 year plan? Also, TATA AIG is a pretty decent company so getting tied to it for 3 years, is it really a bad idea?

And how does the NCB work for these 3 year?

P.S Showroom quoted 32K (before negotiations) for the 1 year plan.

[saket77]

Originally Posted by Pancham

TATA AIG guys suggested I take a 3 year comprehensive plan which again, is turning out to be way cheaper than buying insurance every year. The following are the quotes:

1. Premium for 1st year including Zero Dep. = INR 20222

2. Premium for 3 years year including Zero Dep. = INR 37925

I think its a no brainer to go for the 3 years one. But I wanted to check, is there any catch? will I be at any sort of disadvantage if get the 3 year plan?

Make sure that you have 'own damage coverage' for all 3 years. The catch could be that the there is third party liability coverage for all 3 years and own damage only for the first year.

Regards,
Saket

[Pancham]

Originally Posted by saket77

Make sure that you have 'own damage coverage' for all 3 years. The catch could be that the there is third party liability coverage for all 3 years and own damage only for the first year.

Regards,
Saket

Ok I just did some calculations on this and the 3 year insurance does not make any sense at all. This is because the one year insurance plan (Premium = INR 20222) already contains the Third Party Premium for 3 years. And we all know the Third Party Premium is the major component (in my case it forms 63% of my total insurance premium). So obviously the 2nd and 3rd year premiums will be say max 6K and 5K respectively since there is no TP premium. So paying 37k for the three year plan is plain nonsense.

I think I just saved 'me' a shot ton of money.

Please correct me if I am wrong.

P.S: This is TRAP laid down very nicely by Tata AIG. I request all readers to be AWARE and not fall for this trap. The sales guy clearly mentioned "Sir, 3 years premium will be WAAAY CHEAPER". This is as good as fraud I feel. Unsuspecting customers will easily fall for this.

[dpkbehera]

I have stuck to Royal Sundaram only for my Car. I have found their service in terms of claim settlement good and reliable. As the insurance is due for renewal, i find that the quote being offered by ICICI Lombard is nearly 2k lower for the similar IDV and Inclusions. I am very much tempted to opt for ICICI Lombard. I would appreciate any feedback regarding ICICI Lombard. Most of the reviews seems to indicate that ICICI Lombard is the among the top insurance providers.

[FrozeninTime]

I had renewed by Car insurance from Reliance a month ago. Yesterday I get a message to pay an additional Rs 340 towards NCB otherwise policy would be void. I paid the amount. This incident has made me rethink if buying any Reliance products in future. I would advice others to avoid Reliance insurance at all costs.

[saket77]

Originally Posted by FrozeninTime

I had renewed by Car insurance from Reliance a month ago. Yesterday I get a message to pay an additional Rs 340 towards NCB otherwise policy would be void. I paid the amount. This incident has made me rethink if buying any Reliance products in future. I would advice others to avoid Reliance insurance at all costs.

Why you had to pay? Did you declare incorrect NCB while purchasing the policy?