[gotiyaa]

Hi BHPians, I have a insurance related question for a new car I am planning to purchase.

Car: Ford EcoSport Titanium + AT
Ex-showroom price: 11,19,000

Insurance premium as per PPS Ford Dealership: Rs. 46,336 + Rs. 7,526 for zero dep
Insurance premium as per ICICI Lombard: Rs. 33,999 including zero dep + return to invoice

Does it make sense to buy insurance from dealer, given the difference of approx. 20k?

Apologies if this is a repeat question :o

[kalyan_hyd]

Originally Posted by gotiyaa

bo
Car: Ford EcoSport Titanium + AT
Ex-showroom price: 11,19,000

Insurance premium as per PPS Ford Dealership: Rs. 46,336 + Rs. 7,526 for zero dep
Insurance premium as per ICICI Lombard: Rs. 33,999 including zero dep + return to invoice

Does it make sense to buy insurance from dealer, given the difference of approx. 20k?

Apologies if this is a repeat question :o

Hi

In my opinion, it does not make sense to get the insurance from the dealer if the premium is so high. But, again in my experience, for my past new car purchases, I was able to get a quote from online portals(PolicyBazaar, CoverFox, etc) and get my dealer to (almost) match it to the nearest amount/ benefits so that it's a win-win for both.

My recommendation is to go with these addl covers:
1. Zero Dep
2. Return to Invoice
3. Engine and Gearbox protection
4. Consumables

--Kalyan

[cruiser91]

Hi Everyone.

I went through 30-40 pages of this thread but couldn't get answer to my query which is similar to above questions.

In my case, the my Honda City VCVT is about to complete one year.
I currently have bundled insurance (1 year OD+3 year TP) from Oriental. The OD is up for renewal this month.

For an IDV of 9.0 lakh with zero dep and engine protect...Oriental is offering a premium of only 11.5k (inclusive of taxes) directly through their website.
However Oriental doesn't have tie ups with Honda and any of the six tie up companies (Bajaj, RS, ICICI, Godigit, iffco, national or future gen ) who have tie ups is offering premium for same combination for a minimum of 19k.

The premium offered by these tie up companies are roughly same everywhere (policy bazar, coverfox, dealership).

What I am confused about is...while I am willing to switch to one of these private insurance companies which have tie ups to avoid any hassle during claim regarding rate and all but does it make sense to pay almost 8-9k more for this?

Should I take the risk to continue with Oriental ?
Anyone can share their experience with Oriental with honda in Bangalore?

[vsrivatsa]

Hi Folks,

I have the following quotes for my 2014 Honda City iDTEC:

1. Raheja QBE: Zero Dep, Engine Protect, Key Loss Cover : ₹14.3 K
2. Edelweiss : Zero Dep, Engine Protect : ₹16.1 K
3. Royal Sundaram : Zero Dep, Engine Protect : ₹19.8 K

I am located in Bangalore, what do the folks recommend? How good is Raheja QBE - any claim experiences here?

[Nithesh_M]

Just got shafted by my dealer for the Hyundai Creta. I was arm twisted into buying insurance from dealership itself and was told unofficially by sales rep that my car can be allotted to others if I dont pick dealer insurance. Complained to Advaith Bangalore on their website on first week of Jan. They called back and promised to resolve issue immediately. Zero follow up since. I didn't wanna delay purchase because trying to save 20k on insurance would delay my car and the price hike would add 30k eventually negating it.
Now after my dealer has registered the car and insurance is over he tells me that engine protection and Return to invoice is not standard but an addon. How do I go about resolving this? These imbeciles want 60k for Creta mid variant when market price offers same and more cover for 33k.
If the insurance is issued in my name can I cancel it before taking delivery? Its scheduled on Wednesday.

The reason I use shafted is because the dealer showed me the advantage of in-house insurance which clearly states ROI and Engine protection is covered.

[ghodlur]

Originally Posted by vsrivatsa

Hi Folks,

I have the following quotes for my 2014 Honda City iDTEC:

1. Raheja QBE: Zero Dep, Engine Protect, Key Loss Cover : ₹14.3 K
2. Edelweiss : Zero Dep, Engine Protect : ₹16.1 K
3. Royal Sundaram : Zero Dep, Engine Protect : ₹19.8 K

I am located in Bangalore, what do the folks recommend? How good is Raheja QBE - any claim experiences here?

Check with Honda workshop with which of the above Insurers do they have a cashless tie up and the best claims reimbursement process, go according to that. Pls note the first two are relatively newer to Insurance business, if you ask me personally I would suggest RS even if they are expensive. You could try talking to RS to match the other insurance quote to get business.

[r_nairtvm]

Originally Posted by vsrivatsa

Hi Folks,

1. Raheja QBE: Zero Dep, Engine Protect, Key Loss Cover : ₹14.3 K
2. Edelweiss : Zero Dep, Engine Protect : ₹16.1 K
3. Royal Sundaram : Zero Dep, Engine Protect : ₹19.8 K

Of the three Royal is a more established Insurer and has a good track record in India

If you have a good NCB score - try our IFFCO Tokio as well. They have Cashless facility for Honda

Best Regards & Drive Safe

[suzuki san]

Originally Posted by vsrivatsa

Hi Folks,

I have the following quotes for my 2014 Honda City iDTEC:

1. Raheja QBE: Zero Dep, Engine Protect, Key Loss Cover : ₹14.3 K
2. Edelweiss : Zero Dep, Engine Protect : ₹16.1 K
3. Royal Sundaram : Zero Dep, Engine Protect : ₹19.8 K

I am located in Bangalore, what do the folks recommend? How good is Raheja QBE - any claim experiences here?

I have just insured my Honda BR-V with Raheja QBE through Solitaire Honda in Bombay. All the above plus RSA and NCB Protector for 15k. Check with your Honda dealer.

Regards,
SS

[cruiser91]

Hi

in retrospect, I realized my questions were not very clear.

Please suggest for Honda City OD renewal:

19K-20K for Honda Assure (tie-ups) insurance companies such as Bajaj Allianz/Royal Sundaram/Iffco tokyo

15K-16K for Bharati AXA (cashless at Honda but not tied up with them)

14K for Acko.

[SVMBLR]

Originally Posted by vsrivatsa

Hi Folks,

I have the following quotes for my 2014 Honda City iDTEC:

1. Raheja QBE: Zero Dep, Engine Protect, Key Loss Cover : ₹14.3 K
2. Edelweiss : Zero Dep, Engine Protect : ₹16.1 K
3. Royal Sundaram : Zero Dep, Engine Protect : ₹19.8 K

I am located in Bangalore, what do the folks recommend? How good is Raheja QBE - any claim experiences here?

Haven't heard about Raheha QBE, you can compare premium amount with addtioanl benefits @ https://www.acko.com/

[gischethans]

When we bought our first car (pre-owned), the Maruti True Value folks had obtained the NOC and got the hypothecation removed from RC but not from insurance papers. Though I got the insurance transferred to my name, the endorsement paper didn't mention the hypothecation part. I realized its existence only after the renewal of the insurance last week.

Maruti insurance customer support said I would need to submit the NOC from financier and RC to get it removed. My question is how does one obtain NOC from a financier, in this case, Sundaram finance. Would they entertain requests from a person other than the one who availed finance facility? Can it be done online? Their nearest office is in another city.

I spoke to the True Value person but since I had got the endorsement done at another dealer, they suggested reaching out to 2nd dealer who in turn assured of getting it done via an endorsement but after speaking to customer care, I understand it has not been done yet. Before I reach out to them again, thought of checking the procedure here.

[gotiyaa]

Originally Posted by gotiyaa

Hi BHPians, I have a insurance related question for a new car I am planning to purchase.

Car: Ford EcoSport Titanium + AT
Ex-showroom price: 11,19,000

Insurance premium as per PPS Ford Dealership: Rs. 46,336 + Rs. 7,526 for zero dep
Insurance premium as per ICICI Lombard: Rs. 33,999 including zero dep + return to invoice

Does it make sense to buy insurance from dealer, given the difference of approx. 20k?

Apologies if this is a repeat question :o

Finally, I managed to negotiate with the dealer and got the insurance price down to Rs. 34,500, nearly matching with the quote I received from ICICI Lombard. This includes zero dep, return to invoice, and consumables.

What I did not like was that the dealer never offered me any discount. Anyways, got my set of wheels yesterday so I am happy now.

[sibot]

I'm currently holding a Go Digit insurance policy for my 2013 Hyundai Grand i10, the insurance is up for renewal and I was shopping around.

My car's current IDV is 2,69,000 and Go Digit's renewal puts the value at Rs.2,42,000/-.

Whereas Acko is providing a zero depreciation IDV of Rs.3,12,000/- for about the same price.

I was wondering how the service of the two companies compare?

[ridersam]

Hi

i currently have a zero dep cover from Tata-AIG for my 2012 Hyndai Verna Fluidic. With renewal coming up, I am looking for options. Tata does not provide Zero-dep insurance going forward by I see a quote from Royal Sundaram that is about 5K more than Tata for the zero dep cover

Is it worth taking the additional cover in the 9th year of the car? How is the service by Royal Sundaram?

Also, buying a policy online on the aggregator portal, how has been your experience?

Looking for wisdom from experts in the community. Thank you

[gkveda]

Hello experts
I have got into a peculiar problem. I renewed my car policy with coverfox online through an agent who called me the moment I hooked on to site.

My current car policy expires in march 3rd week.
He made a mistake in start date of the new policy (preponed by 2 months) and sent out the policy to my email after payment.

When i noticed the issue in new policy, he was still online talking to me.

I asked him to change the start date and reissue the policy. He realised his mistake and pleaded me to excuse him. He said there are only two options to rectify his mistake.

Option 1: Can be done in two steps

1. Purchase another policy with right start date by paying another hefty amount.

2. Cancel the first policy with wrong date and get full reimbursement in 14 business days.

Or Option 2:
Continue with the wrong policy with 2 months preponed start date (basically overlap of 2 months between existing policy and new policy)

What do you guys suggest? Should I go with option 1 or 2?

It is purely his mistake. He agreed to that and ready to give corrected policy once I pay second time

Please let me know if this is some sort of game or really he is innocent? Second query, is there any risk for me if I pay second time and get new policy? Can the wrong policy be cancelled?