[d_himan]

Originally Posted by suzuki san

Hi Dry Ice,

For the glass repair on the SX4 and the subsequent damage, the car is insured with "Future Generali India". Big mistake, I know but it was a last minute thing as I did not realise the car insurance had run out and this was the only agent available.

Regards,
SS

I had a comprehensive insurance for when I had a 8 yr old car. Rear windshield broken by a drunken set of people during Holi.

Went to windshield experts. Placed the original policy in front of him. Went to office. Collected car during lunch. Compulsory deductible of Rs.1000 + Rs.500 for sealant was charged. I paid Rs.150 for thorough interior vacuuming.

Pays not to go waste time at dealerships when dealing with glass at least. 3 years from the date of fitting now and there's no problem at all. The antenna and the heating elements work perfectly.

[sameerg001]

Originally Posted by d_himan

I had a comprehensive insurance for when I had a 8 yr old car. Rear windshield broken by a drunken set of people during Holi.

Went to windshield experts. Placed the original policy in front of him. Went to office. Collected car during lunch. Compulsory deductible of Rs.1000 + Rs.500 for sealant was charged. I paid Rs.150 for thorough interior vacuuming.

Pays not to go waste time at dealerships when dealing with glass at least. 3 years from the date of fitting now and there's no problem at all. The antenna and the heating elements work perfectly.

Yes, exactly. I got windshield and rear glass of my accent changed from windshield expert, for just 1000/- bucks, each time. And this was for 10 year old vehicle, I had normal comprehensive policy from reliance.

[Dry Ice]

Originally Posted by suzuki san

Hi Dry Ice,

Very interesting list of charges and percentages you have put up.

If it is only 35% depreciation after 4+ years and my Wagon R was 4 years and 8 months old that means I have been overcharged by ICICI Lombard Maruti Insurance by 15%!! Ripped off again.

Also, having got the official Maruti costing sheet, I now notice that it clearly states at the bottom that if two or more panels are changed (and painted) the customer gets a 6% discount. 3 panels were changed. When I questioned Spectra about this they apologised and said that they "forgot" and will "adjust" next time!! Like I want there to be a "next time"!!!

Sad, isn't it? You just cannot trust anyone.

I wonder how many other customers are being fooled like this.

Are you absolutely sure about the figures you posted from United India because if you are, I will take it up with Spectra Motors. Even though I have sold the car, I still have the invoices with me.
As per IRDA rules, the same norms should apply for all insurance companies, correct?

For the glass repair on the SX4 and the subsequent damage, the car is insured with "Future Generali India". Big mistake, I know but it was a last minute thing as I did not realise the car insurance had run out and this was the only agent available.

You make a good point about the driver or a friend driving and I am not sure about this. However, the guys at Spectra were quite firm on this point of "the driver should have been in my employment for at least a month".

Thanks for your inputs. The old saying about "learning something new everyday" still applies and that's what I love about TBHP.

Regards,
SS

You know these service centers will always try to inflate the bills. One of my friend's car was rear ended, the glass was intact when we left the car. On return, we saw that too was billed and found small glass particles in the nooks and crannies of the boot. Since glass was 100% covered, didn't really matter much to us but just see the levels these guys would stoop to, to get more money per job.

Don't they have a service arm? Ask them to give you in writing the amount to be adjusted next time you come to them for repair OR service. And get your next service done from them.

I would suggest going through your policy doc first and then taking it up. I got these figures from my doc and then checked it on their website. The policy doc will have all these figures and more. The confusion about the dep in glass will also be clear then.

I am still not sure about the driver part. Let me see, what my policy says.

[suzuki san]

Originally Posted by sameerg001

Yes, exactly. I got windshield and rear glass of my accent changed from windshield expert, for just 1000/- bucks, each time. And this was for 10 year old vehicle, I had normal comprehensive policy from reliance.

Hi Sameer and d_himan,

Thanks for the inputs.
Please confirm whether you lost your "No Claims Bonus" after replacing the windshield.
I (my son) also went to "Windshield Experts" (not a Maruti ASS) as they were the "approved" service provider of "Future Generali" and close to home and still the costs were as quoted by me earlier.

Looks like I need to study the policy document carefully before giving the car for repairs in future.
Thing is for the Wagon R accident and the broken windscreen I was not even in town and had to rely on my son to do the paperwork. All communication was done on the phone.

Regards,
SS

[sameerg001]

Originally Posted by suzuki san

Hi Sameer and d_himan,

Thanks for the inputs.
Please confirm whether you lost your "No Claims Bonus" after replacing the windshield.
I (my son) also went to "Windshield Experts" (not a Maruti ASS) as they were the "approved" service provider of "Future Generali" and close to home and still the costs were as quoted by me earlier.

Looks like I need to study the policy document carefully before giving the car for repairs in future.
Thing is for the Wagon R accident and the broken windscreen I was not even in town and had to rely on my son to do the paperwork. All communication was done on the phone.

Regards,
SS

Yes, I did lost my NCB. But then it was just 2000 bucks, compared to replacement cost of 5000 bucks for front windshield and 4500 bucks for rear one. So, I have to bear 2000 ncb + 2k labor for both glasses. Which I guess is pretty much reasonable, considering mine was 10 year old car.

[sandeep108]

Regret to hear of your accidents. Lucky no one was injured otherwise believe me, hassles are far more, whether it is your fault or not.

As with other aspects of India, this is another one - and affects us all - this business of 'no fault'. Internationally almost all insurance always is a function of risk profile, etc. and based on fault. If you rear end a car, it is your fault, no matter what. Then you end up paying for your repairs as well as the car you rear ended. Same goes for if you caused an accident when driving on the wrong side of the road or break a light.

This results in a huge increase in premium for you which ensures you are extra careful when driving. Secondly insurance is based on the driver rather than the car so your driving history and claims is logged onto you - not your car. This again plays a huge role in minimising rash driving. You generate too many claims, no insurance company is going to insure you - bye bye driving. Yes, we do have NCB and premium loading, but it does not help in promoting road safety at all.

I cannot understand why the government cannot set up a national database of cars and drivers based on aadhaar/PAN whatever. This will go a long way in preventing accidents, loss of lives, theft of cars, etc.

[dkaile]

That is why I never do Comprehensive Insurance but only 3rd Party (mandatory) Insurance after the initial one year of all my cars and vehicles (totaling about 9). I have saved more than 7-8 lacs over the past 8 years and have created a Vehicle Contingency Fund and put the money in an FD with renewed enhanced amounts every year.

Benefits and perceptions (that I feel)-
- I have found that repair amounts are substantially less when Insurance is not claimed and cash down payments are made. Bargaining is also possible.
- I have flexibility to repair at road side specialised people whose costs are much lower and quality of work is better than the ASC's.
- Vehicle contingency fund is in my pocket and not the insurance company's.
- I have opted for this because I drive my vehicles myself and don't rely on 3rd persons and drivers. May not be logical for driver based vehicles.
- My vehicles are comprehensively covered for the 1st year after which they loose substantial resale cost anyhow.
- All my vehicles cannot get banged up all at once (hopefully).
- Costs about 3k compared to 45K for a vehicle like say a Fortuner.

Now, I may be called illogical and unconventional but that is how I feel about these Insurance Companies. My system has been working successfully since the last decade and I am in no mood to change.

[nitinralli]

Originally Posted by dkaile

That is why I never do Comprehensive Insurance but only 3rd Party (mandatory) Insurance after the initial one year of all my cars and vehicles (totaling about 9). I have saved more than 7-8 lacs over the past 8 years and have created a Vehicle Contingency Fund and put the money in an FD with renewed enhanced amounts every year.

Benefits and perceptions (that I feel)-
- I have found that repair amounts are substantially less when Insurance is not claimed and cash down payments are made. Bargaining is also possible.
- I have flexibility to repair at road side specialised people whose costs are much lower and quality of work is better than the ASC's.
- Vehicle contingency fund is in my pocket and not the insurance company's.
- I have opted for this because I drive my vehicles myself and don't rely on 3rd persons and drivers. May not be logical for driver based vehicles.
- My vehicles are comprehensively covered for the 1st year after which they loose substantial resale cost anyhow.
- All my vehicles cannot get banged up all at once (hopefully).
- Costs about 3k compared to 45K for a vehicle like say a Fortuner.

Now, I may be called illogical and unconventional but that is how I feel about these Insurance Companies. My system has been working successfully since the last decade and I am in no mood to change.

I really like this idea, infact i had always thought of this. I feel cheated when i give money to these insurance guys. Infact whole idea of insurance is not digestible to me. Good to see someone else with this mind frame

[ghodlur]

Originally Posted by dkaile

Now, I may be called illogical and unconventional but that is how I feel about these Insurance Companies. My system has been working successfully since the last decade and I am in no mood to change.

I dont think so this may be illogical coz I think you have learnt the tricks used by the Insurance co and applied to your benefit. I guess this comes with an experience after owning 9 cars but most of the newbies wont agree to your logic. Also your logic wont work for people owning one or couple of cars, in that case going for comprehensive insurance only will help them in case of any claims.

BTW your signature shows 7 vehicles plus 1 sold, which is the ninth one?

[rm_arjuna]

I too fell for the Zero Dep trick , i changed my policy from normal to Zero dep in 2nd year for my scorpio and the difference was around 3K which i felt was ok for any hassle during emergency .However while renewing for 3rd year the premium shot by 40% and the reason given by company was the dep % will increase from 3rd yr onwards and i paid only for comprehensive policy .

[avisidhu]

Originally Posted by drmohitg

Cubic capacity of your engine.
Are you sure on this? The last I heard was that its available for the first three years of your new car. And recently some companies started offering it till 5 years.

To be specific, the amount is a flat sum of 1000 bucks for any engine below 1500 CC, and 2000 for the rest. So it's 1000 even for Honda City, for example.

Also, if zero dep is availed via Honda assure, you can avail the claim unlimited number of times. At least that's what the SA told me, someone please correct if that's not the case. The duration is upto 5 years.

[Sommos]

Originally Posted by nitinralli

I really like this idea, infact i had always thought of this. I feel cheated when i give money to these insurance guys. Infact whole idea of insurance is not digestible to me. Good to see someone else with this mind frame

There is nothing bad in the whole idea of getting your car insured.

But many have made this a way of extra income by fooling the customer, who is mostly ignorant about the nitty-gritty's of the policy. Just like the employment of the driver in the post # 87. The actual clause is any person with a valid driving license should be driving the vehicle at the time of the accident.

Secondly, in case of an accident, the owner wants to clear-off the mess and get his car back as soon as possible and in the process is ready to make some compromises here and there.

@DK - Thanks for the novel idea.

[dkaile]

Originally Posted by ghodlur

BTW your signature shows 7 vehicles plus 1 sold, which is the ninth one?

Well the total count is more than 9 for which I pay the Insurance. There's also a Tata 407 at my factory plus a Honda Twister, a TVS Star City and a Bajaj Caliber that I have given to my personal staff. Also a TVS Wego driven by my kids. Not to forget a Harley Davidson Superlow which is going to be added shortly to my garage. The signature space restrictions are not sufficient enough to add all of them.

[drmohitg]

Even I used to feel that insurance amount is a wastage of money and to be frank till now it had always proved that way with none of our cars having ever been involved in a major accident. But dkaile sir if god forbid tomorrow your fortuner or superb is stolen then you do stand to lose a lot of money. Also repairs of your Skoda and other new cars these days might not be possible outside with so many small sensors and electrical parts involved. A small bump into someone in city traffic might lead to deploying of air bags which would again cost a bomb to replace.
Although I do agree that the chances are very slim and more so if you have more number of vehicles.

[dkaile]

Originally Posted by drmohitg

Also repairs of your Skoda and other new cars these days might not be possible outside with so many small sensors and electrical parts involved.

Not to forget there is a 4 years extended warranty on these cars which has got nothing to do with comprehensive Insurance. For the companies mistakes, I am covered.

I also cut down my risks by -
- Having a secure parking place
- Being a careful driver
- Being pro-active at the ASC
- Enable good anti-theft systems in all your vehicles. Fortuner and Superb especially have very solid anti theft measures in place and it's not an easy job stealing them.

And for my mistakes, I am ready to live life on my terms and ideas. Has worked so far...