[R2D2]

Originally Posted by vnabhi

The cost of comprehensive insurance is going up steadily. The renewal quotation I got from Maruti is now around 4200 INR for an IDV of around 74 K. I was paying around 3000 INR a couple of years ago. Is it worth switching to some other provider? I have had no claims so far, touchwood!

The main culprit behind rising insurance quotes/prices is 3rd party insurance which according to one insurer increases about 10-15% YoY for all vehicles depending on the vehicle type and engine size. So switching providers won't make much or any difference as 3rd party premium is based on recommendations by the IRDA.

My 16 year old Palio 1.6 GTX (IDV is 70-80K IIRC) has an insurance premium of Rs 10K/year as cars with engines over 1500 cc are subject to higher insurance premiums. And this is after a 50% NCB on 'own damage'.

[dailydriver]

Originally Posted by vnabhi

The cost of comprehensive insurance is going up steadily...
Is it worth switching to some other provider? I have had no claims so far, touchwood!

The USP of Maruti Insurance is the promise of hassle free and cashless claims.

When the IDV itself is ₹74,000, any repairs that may have to be carried out will be compensated only to the extent of ₹50-60k. In the worst case scenario, you can pay the amount and claim it back later. Hence, sticking to Maruti Insurance just for its cashless claims may not be a good idea. Approach any of the nationalised insurance companies and you will certainly be offered a policy with either a lesser premium or a higher IDV for a similar premium. That said, the third party premium is itself ₹2,863 for a car having an engine capacity between 1,000 to 1,500CC. So, there is hardly room for a major negotiation/reduction of premium.

Third Party Premium Rates:

[R2D2]

Originally Posted by dailydriver

Approach any of the nationalised insurance companies and you will certainly be offered a policy with either a lesser premium or a higher IDV for a similar premium.

Thanks for sharing that chart.

Reduction in premium if any will be on the own damage premium which is a smaller %age of the total premium. They don't make adjustments to the 3rd party as maximum # of claims are from that category. Also, it is due to appeals from insurers that IRDA agreed to increases in TP premiums in the 1st place.

Also, max amount of claim reimbursement is at IDV or market value..whichever is lower at the time of claim. Upping the IDV doesn't necessarily benefit the owner. It's one of the many games insurers play to calm down prospective customers and make them pay up. Then they present you with a 'gotcha!' moment when you line up to make a claim.

[anky]

Originally Posted by vnabhi

The cost of comprehensive insurance is going up steadily. The renewal quotation I got from Maruti is now around 4200 INR for an IDV of around 74 K. I was paying around 3000 INR a couple of years ago.

Is it worth switching to some other provider? I have had no claims so far, touchwood!

Switching to another provider will always increase the discount offered to you .
You must however ensure that the idv remains the same as the one with your previous provider .
Also all the terms and conditions (all the covers you choose) should match with your previous policy .
Cheers !
Ankush .

[vnabhi]

Originally Posted by dailydriver

Third Party Premium Rates:
Attachment 1777395

Thanks very much. Do you have the 3rd party rates prior to April 2018? I am already steeling my nerves for my next year's premium for my Fiesta 1.6!

[dailydriver]

Originally Posted by vnabhi

Do you have the 3rd party rates prior to April 2018?

I have two charts actually!

The original order (dt: 28/03/2017) had a higher premium.



After a lot of see saw, IRDA revised the rates as under (dt:17/04/2017)



In 2018, the third party premium for sub 1,000 CC cars has seen a reduction, to ₹1,850, whereas the premium for other two categories of cars has remained the same.

[vnabhi]

Originally Posted by dailydriver

I have two charts actually!


In 2018, the third party premium for sub 1,000 CC cars has seen a reduction, to ₹1,850, whereas the premium for other two categories of cars has remained the same.

Thanks, I can sleep peacefully now!

[ashis89]

Originally Posted by vnabhi

The cost of comprehensive insurance is going up steadily. The renewal quotation I got from Maruti is now around 4200 INR for an IDV of around 74 K. I was paying around 3000 INR a couple of years ago.

Is it worth switching to some other provider? I have had no claims so far, touchwood!

My WagonR has a policy from Iffco Tokio which was sold by the Maruti dealer. However after I moved from Bhubaneswar to Hyderabad, I have been getting it renewed on the Iffco Tokio website directly. I see the premium amount is much lower than what Maruti dealers are offering. Do try this approach if feasible.

For example, this is the quote for my 7 yr old car:

IDV: 183900
NCB: 45%
Voluntary Excess discount: Set at Rs.5000
Quoted Premium: Rs. 3981

[vnabhi]

Originally Posted by ashis89

My WagonR has a policy from Iffco Tokio which was sold by the Maruti dealer. However after I moved from Bhubaneswar to Hyderabad, I have been getting it renewed on the Iffco Tokio website directly. I see the premium amount is much lower than what Maruti dealers are offering. Do try this approach if feasible.

For example, this is the quote for my 7 yr old car:

IDV: 183900
NCB: 45%
Voluntary Excess discount: Set at Rs.5000
Quoted Premium: Rs. 3981

Thanks. Let me explore. But I do get a free body wash and Rs 500 labor charges discount when I renew through Maruti.

[jetsetgo08]

Originally Posted by ashis89

For example, this is the quote for my 7 yr old car:

IDV: 183900
NCB: 45%
Voluntary Excess discount: Set at Rs.5000
Quoted Premium: Rs. 3981

Does this include the 18% GST?

[ashis89]

Originally Posted by jetsetgo08

Does this include the 18% GST?

I don't have a break-up of the quote but this should include the GST amount as this is the final amount to be paid. I can confirm once I pay the premium.

[vnabhi]

Guys, need to change Ol' Faithful's tyres urgently. I realised that the current set are a decade old, and have clicked 43500 Kms approximately.

Need to know the correct aspect ratio. The current set as well as the original set were Bridgestones, but I might go for cheaper options this time. Suggestions are invited.

Thanks.

[NPV]

Originally Posted by vnabhi

Guys, need to change Ol' Faithful's tyres urgently. I realised that the current set are a decade old, and have clicked 43500 Kms approximately.

Our 2016 Wagon R VXI has 155/65R14 tyres and came with Apollo 3G stock tyres which continue to run currently.

In this size, I think the Michelin Energy XM2 will also be a good bet and could cost you between Rs.3500-3750 per tyre.

Please check if this size of tyre is same as the current ones on your car.

[vnabhi]

Originally Posted by NPV

Our 2016 Wagon R VXI has 155/65R14 tyres and came with Apollo 3G stock tyres which continue to run currently.

In this size, I think the Michelin Energy XM2 will also be a good bet and could cost you between Rs.3500-3750 per tyre.

Please check if this size of tyre is same as the current ones on your car.

Thanks, but I'm pretty sure the F10 model came with 13 inch wheels. I remember paying Rs 9200 for a set of 4 Bridgestones in July 2008.

[NPV]

Originally Posted by vnabhi

Thanks, but I'm pretty sure the F10 model came with 13 inch wheels. I remember paying Rs 9200 for a set of 4 Bridgestones in July 2008.

Yes, I had the same suspicion so asked you to check. Can you post a close up picture of one of the current Bridgestone tyres so that we can see what size it is ?