[Rastapopoulos]

Originally Posted by nairrk

+
Your agent cannot deny what other agents are quoting. Ask them what is the NCB they are giving. My original insurance amount was 17666 and after 20% ncb they quoted me Rs.14738 as new premium. Whereas from National Insurance I got further 15% discount and the idv is rounded off to Rs.575,000. And National Insurance giving coverage for passengers
also (besides coverage for owner/driver),.
I think you agent is trying to make some money knowing that your due date is today.!

When I gave your figures they were suggesting that the variation can be
1. The Engine Capacity (1.4 Vs 1.6)
2. The date of renewal - As per them After August th erates are revised.

In my opinion - The third party amount, number of passengers covered etc should impact the cost.

Attached is what they have quoted me.

Renewal doc.xls

[nairrk]

Originally Posted by krish3

The insurance premium for my Fiesta (TDCi ZXi) was Rs 10,019/- for an IDV of Rs 6,00,000/- from Reliance General Insurance which includes no claim bonus.

We also tried outside and never got such a low quote, so finally went through the Kairali Ford guys.

Note-: for my Getz, I paid Rs 10,017/- as premium for an IDV of Rs 4,27,000/-. I had a claim as well.

+
this is very very competitive rate - only Rs.10,019 for an idv of Rs. 6L ?
and BA asking Rs/14738 for an idv if 57300 (for @Rastapopoulos the rate is again high from BA) ..

[sv1976]

For my 1.4 Zxi, I paid BA 11,873 last month with IDV of 630135. Their initial quote was around 17k (a bit lower than the first year premium). I also had a quote from Reliance for Rs. 10800 with same 6.3L IDV but no tie-up with my dealer and so no cashless option. Clearly, i was able to negotiate better with BA only because I started the process early in June. Setting that reminder in my Outlook calendar worked!

[krish3]

So the quote I got is nothing spectacular. Its possible to get low quotes. the idea is to start early. We started searching for renewals 2 months before the policy expired. Had more than enough time on hand to get it done.

[Rastapopoulos]

An update-
I called up Turboholic who referred me to another BA agent. After negotiating with him and telling him I came to him just because of the referral he gave me the below "best deals" as per him. (wont reduce anymore this is after 2 revisions and approx 10 calls)

For IDV - 587000 >> premium amount Rs 15644
For IDV - 620000 >> premium amount Rs 16345


I know I dont have much choice now and am paying the extra buck for my lazy approach.

I guess This is the best I can get with BA and so going ahead with one of the above .

Is there any benefit in depreciating the cost of the car except the premium amount? How does it impact in case of some major accident?

[nairrk]

for my car, the BA calculated IDV as Rs.573500 whereas Natinal Insurance calculated
at a round figure of Rs.575,000. I dont think any major benefit because of showing higher idv and pay more premium (probably, imo, this idv issue comes only when there is a case total loss or..)
any other opinion!?

[Rastapopoulos]

Originally Posted by nairrk

for my car, the BA calculated IDV as Rs.573500 whereas Natinal Insurance calculated
at a round figure of Rs.575,000. I dont think any major benefit because of showing higher idv and pay more premium (probably, imo, this idv issue comes only when there is a case total loss or..)
any other opinion!?

Nairsaab even I thought on the same lines and opted for the lower IDV value. The differnce in the IDV was 33K which does not make sense in a total loss situation in case of some fatal accident or theft.

Paid Rs 15644 premium @ IDV 5,87,000 and got a lesson for the next renewal
Just checked the date - its 18th It was a long night an year ago for the wait to drive home the fiesta (For the first time- I had never driven it)
My car turns 1 tomorrow !

[nairrk]

For your information, herewith the schedule of premium given by National Insurance for my Fiesta.

A
OD - Basic 12,835.20
less ncb 20% -2,567.04
Gross - Rs. 8,728

B
T.P - Basic - Rs.2,500.00
PA to unnamed passengers
Number 4, amount 100000
per person - Rs. 200.00

Cumpulsory PA to Owners cum Driver
amount 200000 - Rs. 100.00
Wc to employee - Rs. 25.00

Gross (B) - Rs,2,825.00

Gross OD & TP = Rs.11,553.00
Loading on OD premium - Rs. 6.00
Stamp Duty - Rs. 1.00

Net premium - Rs.11,559.00
Service Tax Rs. 1,191.00

Total Rs.12,750.00

Coverage for 4 passengers at Rs.1,00,000 each was not there in the previous
policy from BA.

[ghodlur]

Nair Saab,

For an IDV of 566865 I got the following quotes:

1) Chola Mandalam: 13066
2) Future Generali: 14738
3) Tata AIG: 16519 (online quote)
4) Royal Sundaram: 11307 for an IDV of 665950 which is not changeable (online quote).

I am yet to get the quotes from National Insurance, Bajaj Allianz & my present Insurer ICICI Lombard.

I fail to understand how the premiums can be so drastically different. Also Called up the Thane dealer and they said they have cashless tie up with all 4 Insurers mentioned but dont have the same with ICICI Lombard whereas the previous dealer Wasan Ford had the tie up with ICICI for cashless scheme.

Totally confused.

[Rastapopoulos]

Originally Posted by ghodlur

Nair Saab,

For an IDV of 566865 I got the following quotes:

1) Chola Mandalam: 13066
2) Future Generali: 14738
3) Tata AIG: 16519 (online quote)
4) Royal Sundaram: 11307 for an IDV of 665950 which is not changeable (online quote).

I am yet to get the quotes from National Insurance, Bajaj Allianz & my present Insurer ICICI Lombard.

I fail to understand how the premiums can be so drastically different. Also Called up the Thane dealer and they said they have cashless tie up with all 4 Insurers mentioned but dont have the same with ICICI Lombard whereas the previous dealer Wasan Ford had the tie up with ICICI for cashless scheme.

Totally confused.

Good to see you guys spendign some time to analyze the options and quotes. I really did a messy job on the renewal.

I opted for BA because Ford called me to say that they have a tieup with BA and everything is cashless blah blah-
I simply opted for BA as I did not want to run behind companies to claim (in case of a mishap) and process the claim. Life sure gets busy and running behind agents, offices etc is what I avoid.

[sanjayc]

Seems like "running behind companies" will always be there - either before finalizing on the insurance or in case of settlements. Tough luck.

[ghodlur]

I was really intrigued by Royal Sundaram's premium charge. The funny part is nowhere I am able to enter the actual IDV. The online thing just calculates based on the car purchase date the IDV and does not allow it to be changed.

I was just reviewing the add on covers and it really got me interested. I have attached the link. Would request experts to check out the windshield cover, Depreciation waiver and Full Invoice price insurance. Anybody can find the catch in these add on covers.

https://www.royalsundaram.in/car-ins...ddoncover.aspx

[nairrk]

the windshield damage clause is very interesting..
They are responsible only for windshield repair, but no other damage to the vehicle?
Does this mean that if any other damage alongwith windshield damage then it will be repaired under normal policy conditions and you will not get the ncb? how come a car's windshield alone will get damaged -may be some one throw stone or purposily damaging the glass?

also they are not talking about schedule of premium coverage. If you can see what I got from National Insurance, besides own damage (for owner/driver) and TP, they have provided coverage for 4 passengers with one lakh each. BA do not have this
coverage.

[ghodlur]

Nairji,

I was given a quote of Rs 12871 by National Insurance for an IDV of 566865 with an OD of 8451. I think it is on the same lines as yours.

Now I am deciding on Royal Sundaram or National insurance unless my existing Insurer comes up with a super duper offer.

[nairrk]

I heard that icici insurance premium's are always cheaper than others, but one should be careful about what coverage they are giving also service!?