Varying insurance rates for a new car

TheHorse · 27th February 2009, 10:38

I had a really nice surprise while booking Linea. The insurance was quoted as Rs. 23570 (somewhere in that range). Then I told them that I would buy my own insurance just because I am getting 35% discount from Bajaj Allianz (which amounts to Rs 19556). Well I must admit this huge difference was a news to me in first place. But guess what..The dealer's insurance lady told me that (New India insurance I guess) they can match Bajaj Allianz's figure without any compromise. I was like WOW

. But then came the killer. She said that they can even give me Rs 500 further discount. So finally I am paying about 4.5K less for my new vehicle.

I have double checked with Showroom guys that this discount does not any catch (like decreciating car value etc)

I never knew these insurance guys can be negotiated with for so much returns (for new car purchase)

Anybody with similer exp?

Just wanted to let everybody know that such thing happens. (If this is a normal case then pardon my unawareness regarding insurance

)

funda2max · 27th February 2009, 11:57

Yes, I had a similar experience while getting my Fiesta. Showroom guy quoted for 23K with Bajaj Allianz where as Reliance (one of friend works there) quoted for 19K with 3K cash back!! I argued with Showroom person and he talked to Bajaj allianz manager and he offered for 19k (no cash back). Ultimately, i went for Reliance.

vineethvazhayil · 27th February 2009, 12:28

I'm sure they would do some adjustments in the fine print of your insurance. There could be some clauses changed, like it might be a sort of insurance that lies midway between third party and full insurance. I have heard this from Maruti Insurance folks who also work out so called deals for their customers.

throttleking · 27th February 2009, 12:35

I did when i bought Magnum, so got a better deal from ICICI lombard, and got even better deal from TATA AIG while i renewed the insurance poclity. during the renewal i paid around 2k less and also got 2 holiday packages free from TATA AIG.

SkyWalker · 27th February 2009, 12:49

would it be possible to use the no claim bonus of a previous car when i buy a new one, assuming i still keep the old car. I got 6 years of non claim from my hatch, which means substantial money if i book a new car now?

BaCkSeAtDrIVeR · 27th February 2009, 21:01

Looks like a no claim bonus. THere is a thread on this subject somewhere here.

Indian1979 · 27th February 2009, 23:37

Quote:

Originally Posted by TheHorse

I never knew these insurance guys can be negotiated with for so much returns (for new car purchase)

It's not only for new cars it's even for the old ones, its something the agents have discretion over and they can give it to you without any deductions or change in policy.

Have them on all our cars. 30% discount from Bajaj Allianz.

And no this is not No Claim Bonus.

sandeep108 · 28th February 2009, 10:45

Nowadays, standard 20% discount is usually factored in by most dealers in any case. But you should and try and bargain for more. They may go upto 30% without a murmur, 40% with lots of pushing. Not heard of 45% yet.

niv26 · 28th February 2009, 17:07

Quote:

Originally Posted by SkyWalker

would it be possible to use the no claim bonus of a previous car when i buy a new one, assuming i still keep the old car. I got 6 years of non claim from my hatch, which means substantial money if i book a new car now?

I am not sure about second car, but if you trade-in your car, then you can transfer that car NCB to new one. In some cases it would be like 50%, it's very good savings.

Santy · 28th February 2009, 22:45

Quote:

Originally Posted by TheHorse

I had a really nice surprise while booking Linea. The insurance was quoted as Rs. 23570 (somewhere in that range). Then I told them that I would buy my own insurance just because I am getting 35% discount from Bajaj Allianz (which amounts to Rs 19556). Well I must admit this huge difference was a news to me in first place. But guess what..The dealer's insurance lady told me that (New India insurance I guess) they can match Bajaj Allianz's figure without any compromise. I was like WOW

. But then came the killer. She said that they can even give me Rs 500 further discount. So finally I am paying about 4.5K less for my new vehicle.

I have double checked with Showroom guys that this discount does not any catch (like decreciating car value etc)

I never knew these insurance guys can be negotiated with for so much returns (for new car purchase)

Anybody with similer exp?

Just wanted to let everybody know that such thing happens. (If this is a normal case then pardon my unawareness regarding insurance

)

35% discount on 23900/- makes it 15900/-

now do one thing, go to Reliance general insurance site and put up a mail on contact us, some fellow will call you after 2 days the Reliance people will offer the same insurance for 14500/- , and reliance as I have heard is good on claims settlement

I got it for my linea petrol active

27th February 2009, 10:38	#1
TheHorse BHPian Join Date: Sep 2008 Location: Bengaluru Posts: 131 Thanked: 11 Times	Varying insurance rates for a new car I had a really nice surprise while booking Linea. The insurance was quoted as Rs. 23570 (somewhere in that range). Then I told them that I would buy my own insurance just because I am getting 35% discount from Bajaj Allianz (which amounts to Rs 19556). Well I must admit this huge difference was a news to me in first place. But guess what..The dealer's insurance lady told me that (New India insurance I guess) they can match Bajaj Allianz's figure without any compromise. I was like WOW. But then came the killer. She said that they can even give me Rs 500 further discount. So finally I am paying about 4.5K less for my new vehicle. I have double checked with Showroom guys that this discount does not any catch (like decreciating car value etc) I never knew these insurance guys can be negotiated with for so much returns (for new car purchase) Anybody with similer exp? Just wanted to let everybody know that such thing happens. (If this is a normal case then pardon my unawareness regarding insurance)
	() Thanks

27th February 2009, 11:57	#2
funda2max BHPian Join Date: Sep 2008 Location: Bangalore Posts: 377 Thanked: 26 Times	Yes, I had a similar experience while getting my Fiesta. Showroom guy quoted for 23K with Bajaj Allianz where as Reliance (one of friend works there) quoted for 19K with 3K cash back!! I argued with Showroom person and he talked to Bajaj allianz manager and he offered for 19k (no cash back). Ultimately, i went for Reliance.
	() Thanks

27th February 2009, 12:28	#3
vineethvazhayil Senior - BHPian Join Date: Apr 2007 Location: Chicagoland Posts: 1,513 Thanked: 456 Times View My Garage	I'm sure they would do some adjustments in the fine print of your insurance. There could be some clauses changed, like it might be a sort of insurance that lies midway between third party and full insurance. I have heard this from Maruti Insurance folks who also work out so called deals for their customers.
	() Thanks

27th February 2009, 12:35	#4
throttleking BHPian Join Date: Oct 2007 Location: Pune Posts: 804 Thanked: 447 Times	I did when i bought Magnum, so got a better deal from ICICI lombard, and got even better deal from TATA AIG while i renewed the insurance poclity. during the renewal i paid around 2k less and also got 2 holiday packages free from TATA AIG.
	() Thanks

27th February 2009, 12:49	#5
SkyWalker Senior - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 1,531 Thanked: 136 Times	would it be possible to use the no claim bonus of a previous car when i buy a new one, assuming i still keep the old car. I got 6 years of non claim from my hatch, which means substantial money if i book a new car now?
	() Thanks

27th February 2009, 21:01	#6
BaCkSeAtDrIVeR Senior - BHPian Join Date: Jun 2007 Location: Kochi Posts: 2,541 Thanked: 755 Times	Looks like a no claim bonus. THere is a thread on this subject somewhere here.
	() Thanks

28th February 2009, 10:45	#8
sandeep108 Senior - BHPian Join Date: Jul 2006 Location: Bombay Posts: 1,051 Thanked: 304 Times	Nowadays, standard 20% discount is usually factored in by most dealers in any case. But you should and try and bargain for more. They may go upto 30% without a murmur, 40% with lots of pushing. Not heard of 45% yet.
	() Thanks