[anilisanil]

For my Figo I have got two options from the agent recommended by @remingtonsteel.

1)

@IDV 423200

Zero Dep+ loss of personal blngs+emergency transport+key replacement = 2278

Total insurance w/o NCB (I have got claims)= 15757

2) I have another option subject to approval of TATA AIG is

IDV @ 388,023.

All the benefits as above@ 2200
return to purchase cost @2500

Insurance payable at 16865. Essentially I am going for lower IDV and going for plan to go to the purchase value (in case of total loss or theft) by paying 1000 rupees more than above (quote1).

Please tell me which one to go for?

[RemingtonSteele]

IMO you should go for the standard IDV which is 20% less (for 1st year) of the purchase cost or 15% less of last IDV. This is the full payout in worst case total loss.

Return to purchase cost is applicable in case of mishap/totalloss (or the repair cost of more than 60% of IDV). This is a very rare scenario and God forbid this situation doesn't ever come.

Please weigh your choices carefully before you decide.

[anilisanil]

Originally Posted by RemingtonSteele

IMO you should go for the standard IDV which is 20% less (for 1st year) of the purchase cost or 15% less of last IDV. This is the full payout in worst case total loss.

Return to purchase cost is applicable in case of mishap/totalloss (or the repair cost of more than 60% of IDV). This is a very rare scenario and God forbid this situation doesn't ever come.

Please weigh your choices carefully before you decide.

But when else would I need to be worried about IDV insured. I was assuming it to be only in cases of TL or thefts. So if I am insuring for lesser IDV and taking care of the TL or theft cases by opting for "return to purchase cost" am I not covering all the scenarios? or am I missing something here?

Another question I have in mind is is 0% depreciation @ 1800 worth it? Considering it can be claimed only twice in a year?

One thing I like about this TATA AIG thing is that you would not lose NCB if you opt for repairs only (or unless you go for some part replacement) so small bumper scratches etc can be claimed w/o bothering about NCB :P

[virtualdanger]

I have a 2006 Accord V6, which was previously insured with National Insurance. I had the policy transferred last year as it wasn’t on my name. During transfer I was charged for the transfer process, as well as 3177 INR for bonus transfer.

I am currently in the process of renewal, and considered Tata AIG. Unfortunately post examining the National Insurance policy document I am unable to tell what the NCB is. Based on my conversation with the Tata AIG agent, he indicated a fee of 15663, assuming no claim for this year, but no other NCB from previous years.

How can I find out my NCB percentage?

Is 15633 a good deal?

What is the general opinion with Tata AIG?

[CareFreeKid]

My i20 is due for insurance renewal this December (completing 1 year). I've been doing my bit of research before coming here for zeroing in on the provider.

It seems TAIG is the best with competitive rates the most hassle free claim experience.

More later.

[kalpeshc]

Also consider Bajaj Allianz's Drive Assure. For some reason last time when I tried AIG for the 0% depreciation thing, there were some terms and condition because of which I opted for Allianz.

[CareFreeKid]

Originally Posted by kalpeshc

Also consider Bajaj Allianz's Drive Assure. For some reason last time when I tried AIG for the 0% depreciation thing, there were some terms and condition because of which I opted for Allianz.

Thanks for the tip kalpeshc!

Could you please let me know the terms which tilted your decision in BA's DA favor? I have a quote for them too. But just wanted to make sure I'm not missing out on something crucial. Thanks!

[kalsu]

Folks for the benefit of larger audience- if you have a TATA AIG insurance policy read on- I tried renewing my insurance this Jan and guess what, I get to know from thier office, my policy itself is non existent so they cannot renew. This information despite me having a pdf send from their email address and having a hard copy..Suggest you all call up and find if they have the records in internal systems. Finally escalated and escalated they just wouldnt agree that I had a valid policy until I send them a copy. Its any bodys guess what would have happend if I had an accident claim..so friends please recheck with the the insurer if the records are updated right..am still fighting and decided not to leave these in efficient company agents can share the contact details if any one needs..

[rishie]

Originally Posted by kalpeshc

Also consider Bajaj Allianz's Drive Assure. For some reason last time when I tried AIG for the 0% depreciation thing, there were some terms and condition because of which I opted for Allianz.

Can you let us know what are the terms you opted out AIG for Bajaj Allianz?

[kalpeshc]

I think they don't give zero dep insurance to second hand cars. So I had to go to Bajaj Allianz. I was extremely satisfied with Bajaj's service (the agent was superb actually) but this year while renewing my premium was increased a lot as I had a claim in the current year. I was not comfortable with that. I moved on to Tata AIG yesterday and they gave me a quote which is at least 35-40% less than Allianz. I contacted them directly.

[YVES]

Originally Posted by kalpeshc

Also consider Bajaj Allianz's Drive Assure. For some reason last time when I tried AIG for the 0% depreciation thing, there were some terms and condition because of which I opted for Allianz.

I have just passed a difficult time with Bajaj Allianz's Drive Assure, When the sold the policy they say is 0% depreciation thing , but for plastics they have charged 50 %, This was my first claim after back to back renewal of Bajaj Allianz's Drive Assure. So dont trust Bajaj.
Its all in a name.

[kalpeshc]

I think you have to explicitly specify when you want to make a claim that this claim be processed under 0% depreciation. Basically with both Tata and Bajaj, you can only make zero dep claims twice a year and they assume (quite conveniently) that you do not want to make the zero dep claim as you may want to 'save' your two claim opportunity for the future !

[ethan3686]

Guys i really need some advice on this :

I came to know about the toyota insurance policy and how they charge extra (around 30k) than others. I have already taken it. So can i cancel it now and use other options like TATA AIG?
Also is ere any MAJOR difference between the two because i dont see anything that suggests i should pay 30k extra on toyota insurance. Some people say its hassle free if you have company insurance like toyota as you bought the vehicle from them. Suggestions please? Specially people who have used TATA AIG or any other.

[samarjitdhar]

TBHPians, I am currently in the process of renewing the insurance for my VW Vento TDI Highline and have been shopping for quotes. I have completed one year of ownership and have made no claims as of now. Need your suggestion regarding what should I go for and if there are any gotchas which I should watch out for in the policies and the quotes.

Here is what I have got. All of them are inclusive of no-claim bonus and zero depreciation.

1. Bajaj Alliance (Drive Assure) - Rs 30061 (IDV Rs 836690)
2. Tata AIG (0 Dep) - Rs 24282 (IDV 784000), Rs 25741 (IDV Rs 841000), Rs 26960 (IDV Rs 931000)
3. Bharati Axa (Drive Assure) - Rs 21598 (IDV Rs 796610)
4. ICICI Lombard (0 Dep) - Rs 23861 (IDV Rs 796610)

Of all these the Tata AIG one looked attractive. They are offering roadside assistance, lost key coverage, etc. the same as the Bajaj policy even at a higher IDV. Now I had a question if it is worth getting a higher IDV. If I got a policy with higher IDV if there is a totaling or theft of the vehicle would the higher IDV be honored or the standard rule of 15% depreciation to the ex showroom price applied? Thus is it worth even going for a higher IDV?

I am inclined towards the Tata AIG policy over Bajaj since Bajaj seems to be simply overcharging. Actually when I checked the individual drive assure premium Bajaj is around Rs 4000 more than the others. When I asked the Bajaj folks they told me that they give some additional engine protection package which is not provided by the others. Is this true? I am attaching the Drive Assure brochure that Bajaj shared with me for experts to confirm.

DriveAssure Details.pdf

I mean if the car is insured bumper to bumper by the others, then the engine would be automatically included isn't it? What is the additional engine protection feature that Bajaj is claiming to offer? Appreciate your help in this regard.

[souravc]

Originally Posted by samarjitdhar

If I got a policy with higher IDV if there is a totaling or theft of the vehicle would the higher IDV be honored or the standard rule of 15% depreciation to the ex showroom price applied? Thus is it worth even going for a higher IDV?

You are absolutely spot-on , just jacking up the IDV is of no use - under IRDA regulations there is a fixed way of calculating it , please refer to the link alongside IDV


The Bajaj guy is clearly trying to pull a fast one on you . You should also take informal feedback from the VW workshop guy about which insurance company clears repair quotes with the least amount of delay , thats a very important consideration.
I got mine from ICICI Lombard because their quotes seemed reasonable , they seem to be widely accepted ( what if Vento breaks down in tier 2/3 city ? ) and all my general insurance are through Lombard .
I have heard decent feedback about Tata AIG too