[saket77]

I have had a few good experiences by National Insurance, but that is covered under the umbrella of Maruti insurance tie-up and hence cashless.

But for my other car, I am a little apprehensive about renewing my soon due insurance with National Insurance as it will not be a cashless facility, if required. And I am not sure how fast/ slow things move at a public sector insurer's office. Any experiences will be helpful.

However, getting a reasonable quote from HDFC Ergo. Asking the insurance experts, how good (or bad) is HDFC Ergo, if a need arises. It will be a simple comprehensive policy without Zero depreciation for my Civic with 3L as IDV.

Thanks,
Saket.

[vnabhi]

Originally Posted by ayankm

My car's insurance is with New India Assurance. They are very very slow with respect to claim settlement process but they are good with respecting the zero depreciation claim. What I mean to say is that, while other companies have a bit of distorted viewpoints when it comes to paying for plastic parts, NIA pays fully.
.

Originally Posted by ghodlur

Venu Sir,
The quotes mentioned above are for the same IDV? If yes, I would suggest to opt for RS. Two reasons for that -1) Cashless tie up with RS (Ford has a national tie up with RS, hence cannot cheat of the repair costs) 2) Good after sales customer support. The premium quoted by RS is fairly good enough, just check with them if there is any further scope of negotiations.

.

Thanks guys for your 'timely' suggestions---my post was of last year, and I had already opted for NIA then.
Actually I am in the process of renewing it again.

Originally Posted by saket77

However, getting a reasonable quote from HDFC Ergo. Asking the insurance experts, how good (or bad) is HDFC Ergo, if a need arises. It will be a simple comprehensive policy without Zero depreciation for my Civic with 3L as IDV.

Thanks,
Saket.

My daughter drives the car insured by NIA and thankfully there have been no claims so far. So I am not in a position to comment on how fast or slow they are during claims.

I've renewed my Fiesta's insurance with HDFC Ergo last week. It was earlier covered by L&T Insurance, which got sold to HDFC General Insurance. I haven't claimed from either, so I can't give a feedback on this as well. Sorry about that!

[ragh_bhushan]

Originally Posted by saket77

However, getting a reasonable quote from HDFC Ergo. Asking the insurance experts, how good (or bad) is HDFC Ergo, if a need arises. It will be a simple comprehensive policy without Zero depreciation for my Civic with 3L as IDV.

My friend has claimed insurance with HDFC Ergo on few occasions for his Honda City. The experience was pretty smooth. Cashless and quick settlement. This was with Apex Honda, Mumbai in 2014 and 2015. He did have zero depreciation cover though.

[tanwaramit]

Originally Posted by Holyghost

I renewed my Cruze with New India in its 7th year with a Zero Dep coverage. New India and Oriental provides Zero Dep upto to 10 years. Good to know that private players have also started giving Zero Dep to 5+ years vehicles.

Can you (or any other BHPian) give the contact details of your agent at New India Insurance?

My car is going into 6th year and I am not getting Zero depreciation insurance from the preferred players.

[bhavik.1991]

Time to renew the insurance of my Brezza zdi+

Quotation from,
Maruti dealer (ICICI Lombard) : 16500
My regular agent (Hdfc Ergo): 19300
PolicyBazaar (Oriental) : 17000
PolicyBazaar(Hdfc Ergo) : 19300

PS: Zero dep & 35% ncb included

I was pleasantly surprised by the quotation from the Maruti dealer, they said they are running some heavy discounts hence the attractive quotation so I almost decided to go with Maruti insurance due to their excellent quotation & peace of mind that comes with purchasing insurance directly from the dealer.

There is a small catch though.

IDV in current policy is approx 9.42L so the ideal IDV during the renewal should be 8.47L & that is the case for quotations from my dealer & Policybazaar however Maruti calculated 7.92L IDV which is approx 55K less than the ideal IDV.

So I asked Maruti lady to resend me the quotation by adjusting the IDV to the ideal IDV (8.47) but she informed me that it is not possible because Maruti has disabled adjusting IDV in their software a few months back. Instead she suggested me to opt for 'Return to Invoice' addon. This addon allows me to claim the amount I paid at the time of purchasing the car (minus insurance policy amount) in case of theft/total loss regardless the IDV. The addition amount I need to pay for the addon is just 400rs. So here is the summary of final quotations.

Maruti dealer (ICICI Lombard) : 16500 (IDV: 7.92L)
Maruti dealer (ICICI Lombard) + Return to invoice : 16500 (IDV: 7.92L)
My regular agent (Hdfc Ergo): 19300 (IDV: 8.47L)
PolicyBazaar (Oriental) : 17000 (IDV: 8.47L)
PolicyBazaar(Hdfc Ergo) : 19300 (IDV: 8.47L)

I find Maruti deal with return to voice addon very tempting compared to others.

My concerns are:
1) Is there any hidden term or condition in return to invoice addon?

2) FAQ page on Policybazaar mentions that return to voice is usually offered only within the first year however Maruti dealer is offering me it during renewal (assured me that it will be mentioned in the new policy as well) and claims that it can be opted for upto 5 years along with zero dep addon. Do I need to investigate further about Maruti dealer's claim here?

3)The major one: Even if I get full amount in case of theft, total loss (which is a great benefit, IMO), IDV of the car will be reduced during future renewals. I may opt for return to invoice addon upto 5 years as well (I find the addon extremely VFM for 400 bucks) but after then, my IDV would remain approx 40k less than the ideal IDV if I go for the Maruti insurance right now. Is it worth to take the risk? (I plan to keep the car for approx 8 years)

Experts, please let me know your views on this.

[handsofsteel]

I have just sold my car after expiry of insurance. No claims so I guess am entitled for a ncb of 20%. Am planning to buy a new car within the next month. What do I have to do to transfer the ncb from my previous policy as and when I buy it? Request guide.

[hserus]

Originally Posted by handsofsteel

I have just sold my car after expiry of insurance. No claims so I guess am entitled for a ncb of 20%. Am planning to buy a new car within the next month. What do I have to do to transfer the ncb from my previous policy as and when I buy it? Request guide.

Did you give an insurance transfer letter to the buyer? If before that you got the NCB transferred over well and good. Else that policy is technically expired so NCB expires with it.

You may have to convince the insurer to renew it with NCB

[handsofsteel]

Originally Posted by hserus

Did you give an insurance transfer letter to the buyer? If before that you got the NCB transferred over well and good. Else that policy is technically expired so NCB expires with it.

You may have to convince the insurer to renew it with NCB

Actually, I renewed my policy through policy bazaar on 05 Jan 17. Sold my car on 20 Mar. Post selling, when going through my documents, realised that hadn't got my cover note. So in effect, sold my car without insurance. Contacted policy bazaar, some glitch at their end,they are processing a refund. In light of this, do I have any hope?

[drsingh]

Is it possible to avail liability only insurance for a new car? Or is comprehensive insurance mandatory by law for a new car?

[slicvic]

Originally Posted by drsingh

Is it possible to avail liability only insurance for a new car? Or is comprehensive insurance mandatory by law for a new car?

Most definitely possible.

Actually never thought of it. But for the dealerships who refuse to deliver a car without buying insurance from there this is the best option.

Get Third party Insurance from the dealer.

Then get your own comprehensive insurance done.

Cancel the third party Insurance.

[kutoos]

Folks,
I've a query on IDV vs RTI (Return to Invoice)

My insurance is due for renewal by the end of this month. Tata AIG suggest opting for RTI, but provided an IDV of 7.2 L (CIAZ ZXI+ 2016) which is way too low

I find the RTI option OK, however my concern is that after 3 years will the IDV be substantially affected? RTI cannot be opted after 3 years.

Should i anyways increase the IDV and also opt for the RTI. According to the agent from AIG, if i opt for RTI then IDV is redundant, so n harm in opting for a higher amount?

Am i missing someting or is this a trap? Appreciate your views on the above.

Cheers

[kutoos]

Originally Posted by handsofsteel

Actually, I renewed my policy through policy bazaar on 05 Jan 17. Sold my car on 20 Mar. Post selling, when going through my documents, realised that hadn't got my cover note. So in effect, sold my car without insurance. Contacted policy bazaar, some glitch at their end,they are processing a refund. In light of this, do I have any hope?

I got teh NCB letter from ICICI Lombard: Recap of events

1. Sold my car to the dealer in 2016 April (Insurance was valid till 2017 Feb)
2. Forgot all about getting the NCB after purchase
3. Last week when the insurance companies started calling for renweal, and seeing the premium amount, called up the ICICI customer support
4. Sent the delivery note, old insurance of the sold car and the new insurance to customer support
5. Letter confirming my NCB was dispatched by courier and received it in 3 days.

Hope tha above helps

[ghodlur]

Originally Posted by kutoos

Folks,
I've a query on IDV vs RTI (Return to Invoice)

Firstly RTI is an add on cover and in no way related to the IDV.
Secondly IDV is not dependant on the RTI.

Returns to Invoice add on cover which is applicable only in case of Total loss where the Invoice amount of the car can be claimed. Generally the add on cover is offered during the initial years of ownership. So dont believe the agent if he tells that RTI is sufficient and IDV is immaterial.

Calculate the correct IDV and then get premium quotes from those Insurance co which have cashless tie up with the workshops where you service you car. Or find out with which company does the car manufacturer have a national tie up and opt for them.

[bullrun87]

Guys I have to renew my cars insurance this month and had a few questions. I am currently insured with royal sundaram under Ford insurance. If I buy my policy online from policybazar , will ford dealers decline cashless repairs for the car. Do they perform cashless repairs only if the policy is purchased from them? I feel I can get a much more competitive quote online.

[samaspire]

Originally Posted by bullrun87

Guys I have to renew my cars insurance this month and had a few questions. I am currently insured with royal sundaram under Ford insurance. If I buy my policy online from policybazar , will ford dealers decline cashless repairs for the car. Do they perform cashless repairs only if the policy is purchased from them? I feel I can get a much more competitive quote online.

Don't fret. Just renew the same Royal Sundaram policy from the royal sundaram website. You are guaranteed to get better rates plus you can add on a few covers. Ford WILL give you cashless cover because RS is one of their preferred insurers.

I can say this with some authority because I have done the same thing, and I have also claimed the insurance without any special issues.