[sizz28]

Hi folks,
I need to renew insurance for my car (VW Virtus purchased last year). My current policy is with Reliance Insurance with IDV of Rs 17.x lacs.
While comparing the quotes for renewal I got the following quotes (I have 20% NCB applicable and all the quotes below are including that) -
1. Reliance (via the Insurance team of the Car Dealership)
IDV - Rs 17 Lacs
Add ons - Zero Dep, Engine Protect, Consumables, Key Protect,
Total Premium (without taxes) - 29.6k
Net payable (including taxes & discounts) - 32.5k

2. Tata AIG (quote generated directly from their website)
IDV - Rs 17 Lacs
Add ons - Zero Dep, Engine Secure, Consumables, Key Replacement, Loss of Personal Belonging, Theft/Fire, Roadside Assistance
Total Premium (without taxes) - 18.5k
Net payable (including taxes & discounts) - 21.8k

3. ICICI Lombard (quote generated directly from their website)
IDV - Rs 16.5 Lacs
Add ons - Zero Dep, Engine Protect, Consumables, Key Replacement, Roadside Assistance
Net payable (including taxes & discounts) - 43.7k

4. Digit (quote from coverfox)
IDV - Rs 17 Lacs
Add ons - Zero Dep, Engine Protect, Consumables, Key Replacement,
Total Premium (without taxes) - 25.1k
Net payable (including taxes & discounts) - 29.6k

Considering the IDV and add-ons - Tata AIG is significantly cheaper. I wanted to get opinions from the knowledgeable folks here to understand if there are any gotchas that I am missing? I have used Tata AIG in the past for my old car and I did have hassles in getting approval for a claim once but I also had a couple of quite seamless claim experiences as well.

My first preference is Tata AIG and second is Reliance as it is suggested by the dealer as well. Any other insurers or any suggestions you'd recomened?

[ghodlur]

Originally Posted by sizz28

I need to renew insurance for my car (VW Virtus purchased last year). My current policy is with Reliance Insurance with IDV of Rs 17.x lacs. While comparing the quotes for renewal I got the following quotes (I have 20% NCB applicable and all the quotes below are including that)

Have you checked with the garage where you would normally service your car with which Insurance cos do they have cashless tie up. If they have any/all Insurance cos in the list of quotes you have shared, you can opt for the Insurance co with lowest premium and maximum benefits.

Its nothing new that Tata AIG wants business and you could be the new customer for them, hence the lower premium. I would suggest to read through the T&Cs of the add on covers promised by Tata before you take the plunge.

Lower premium does not necessarily mean good service.

[lordrayden]

Originally Posted by sizz28

Considering the IDV and add-ons - Tata AIG is significantly cheaper. I wanted to get opinions from the knowledgeable folks here to understand if there are any gotchas that I am missing?

I’m kind of in the same situation as you were in. 2 months hence, have you found anything “off” about Tata AIG?

[sizz28]

Haven't had any need to use it so far (fingers crossed).

Originally Posted by lordrayden

I’m kind of in the same situation as you were in. 2 months hence, have you found anything “off” about Tata AIG?