[montsa007]

Hi,

We have a 2012 i20, Sports Auto, luckily it had a comprehensive insurance with ICICI purchased by the previous owner, expiring on 7th Feb 2024.

The IDV is around 2.91 Lacs, altough this is our first vehicle I researched the pros and cons of having a comprehensive & a third party insurance, finally decided to opt for a comprehensive one as long as it is available.

Visited policybazar to check what are the available options, not much to be honest as most of them were providing an IDV of under 2.25 lacs, understandable but the premium did not reflect the same, I was paying close to 6k for a reduced IDV, which am sure will reduce further the next year.

Stumbled upon Acko, and accidentally found that Amazon sells Acko insurance. They provided an IDV of 5 Lacs+, Engine cover Addon (If purchased from Amazon). Took out the quote from Acko's website, turns out if you purchase from Acko's website you dont get Engine cover as an addon, but you get it if purchased form Amazon, being a prime member there is a discount of 500 rupees as well. I ended up paying around 8k with engine cover as an addon, IDV of 5.25 Lacs.

Now comes the funny part, got a call from one of Modi Hyundai Dealerships (Had a horrible experience endorsing the existing insurance policy, they made 3 endorsements in all, in the first one they just changed the address, in the second one they changed policy holder name, policy holder DOB & nominee name, in the final endorsement they changed the nominee gender). When I asked how can they miss critical details?, they said "Check nahi kia backend team ne" (Backend team did not check it). Trust was lost at that point & I was simply praying that I hope I don't have to use this policy till it expires. Even the ICICI app still shows old owners name but my address.

Now the same lady calls me back for insurance renewal on a Sunday, near month end (Probably target pressure). I tell her to share a quote, Funny to know that I'll be paying 8k for a reduced IDV (Do note at this point I've already taken Acko Insurance). Even told her that I've purchased from Acko, she says its not dealership approved & is not cashless etc., I don't respond back.

Few days back the lady calls me again, I don't know why but I picked up & here's what I remember of the conversation

She : Sir your insurance is due for renewal
Me : Yes I've already purchased one from Acko, already told you
S : Sir its not cashless
M : That is fine, I'll get it reimbursed
S : You have to pay 3000 per incident charges
M : I've worked in insurance, I have the printout in front of me which clearly says 1k incident charges (I mean come on, a printed document & she is saying otherwise!?, came to know later 1k is fixed by the governing body)
S : Sir its not dealership approved
M : I'm getting 5L+ IDV in the same premium alongwith Engine cover addon, why should I go with ICICI?
S: (Bit irate) Yours is an 11 year old vehicle, nobody will give you that
M : I already have purchased it, I have the printout in my hand which says otherwise, You are simply wasting your and my time.
Disconnects the call, but I could here this before the line was cut ("5 lacs IDV" in a very frustrating/angry tone)

Chatted with my friend who had a similar experience, he purchased insurance through Paytm instead of ICICI for his 2 wheeler, he was also served the same stuff "Not network approved"

And more funny is that, I've added the car in Cred app, its giving at 4k quote for a comprehensive insurance renewal with ICICI & Modi Hyundai was charging 8k for the same, IDV still remains around 2.15L. For a 2.82L IDV Cred is charging 4.1k.

Anyone having similar experiences?

P.S. - Car is not serviced at dealership by us, am not sure if it was serviced at the dealership by the previous owner as we purchased through a middleman. The dealership came into picture when I mailed ICICI about policy endorsement & they bluntly said not possible, and out of nowhere I got a mail from 1 of Modi Hyundai's dealerships, endorsing the policy was another painful experience as shared above.

[bijims]

This has been the case with Renault, they charge astoundingly high premiums with the lowest IDV possible, initially in the first few years, I had to go with it, but in the second year, I had an accident claim just a month before the renewal date and claimed it in the old policy itself, so my NCB went back to zero in the third year, but when it came to the fourth year, there was no accident in the third year and my NCB was supposed to be 20%, and the quote got approved as such and payment was made, within 6 months, I got a notice that I was ineligible for NCB and was asked to pay the difference, I wondered what could have happened, on further inquiry it was revealed that the dealership had taken two claims on my insurance policies, one in the second year-end and the next in the third year beginning, the second of which was without my knowledge, the third year polcy was from Royal Sundaram (the dealership was also TV Sundaram and they urged me to take their policy) but it was a fraud and I gort denied a year's NCB. The next year, I decided never to go with the dealer's insurance, and what do you know the NCB in the 4th year was much higher than what was quoted in the second year.

Although there isn't much use in quoting higher NCB than normal,but when its too low, much lower than the depreciation prescribed by IRDAI and when dealerships get a huge chunk of commision,its best to get it done from elsewhere.

[SS80]

Slightly OT:
Anyone planning to buy a Hyundai car in Bangalore please avoid, Lakshmi Hyundai, Hennur Outer Ring Road. A close person has booked Exter and is having a pathetic experience, everything from old car exchange value to insurance quotes, nothing is clear and transparent. We have to fight tooth and nail to get information. Best to go to other dealers in the city. Due to the showroom being close to his home and he had already given away his old car as a booking amount to the showroom, cancellation of booking was no longer an option.

Save time and tension, skip these guys.