[r_nairtvm]

Originally Posted by Dhananjay_Desai

Spoke to a couple of insurance agents. They are insisting that the withdrawal is only for multi year OD policies and 3 year TP is mandatory.

https://www.timesnownews.com/auto/fe...benefit/630403

"Starting today, new car and two-wheeler owners in India will get benefits in motor insurance that could lower the upfront cost of vehicles as compared to before. From today, vehicle insurance providers will not be allowed to sell long-term own damage (OD) policy cover to new passenger vehicle owners. This will have two benefits; first, customers will not have to pay a higher upfront premium for the insurance policy, and second, they will have the freedom to change their insurance provider after one year. But as mandated by the Supreme Court, car owners will have to purchase three-year third-party (TP) cover while the same in case of two-wheelers will be five-years. To cut a long story short, vehicle dealerships can no longer coerce customers into buying long-term OD insurance cover (which has a higher premium than standard policy)."

Current Position

Best Regards & Drive Safe

[Lambydude]

Hello, I'm nearing the insurance renewal for my car and have a question. I have already taken Skoda shield which is an extended warranty for the car till 6 years.

Considering this, should I really take engine protector as an add on to my zero dep insurance?

Thanks!

[kalyan_hyd]

Originally Posted by Lambydude

Hello, I'm nearing the insurance renewal for my car and have a question. I have already taken Skoda shield which is an extended warranty for the car till 6 years.

Considering this, should I really take engine protector as an add on to my zero dep insurance?

Thanks!

Hi,

Please do read the full terms of Skoda Shield. If Engine and Gearbox protection due to inundation of water are specifically covered in that, then you may avoid the Engine protect cover provided by the insurer.

But, usually, an extended warranty covers OEM parts and only covers manufacturing defects in parts from the Company(Skoda) end. And situations like the flooding of the vehicle, inundation of water due to excess rain, etc are not covered.

If not sure, its always better to have the cover at a cost of a few thousands of rupees.

--Kalyan

[pandey.jai]

Apologies for yet another renewal/add on related query:

Insurance renewal is due for my vehicle and the dealership has given me a quote with the following add on:
ZD, EP, CM, RTI, PB, KP

I tried to negotiate on the amount and they said given my usage (8k kms in 2 years), I could drop some add on and the difference in total amount is about 4.7k. The new quote has the following add on - ZD, PB, KP

So RTI, CM and EP have been dropped.

Question to the knowledgeable folks here is that given my light usage, is it worth dropping these add on in favor of a reduced amount payable?

[carenthusiast]

My cousin is planning to take OD insurance and the best quote that he received was from Raheja QBE. Quote details:

INR 5029 with Zero Dip and IDV 4,86,726 for his 2 year old Tata Tiago Revotron ZX+

Kotak has provided a quote of INR 6K for IDV 4,50,000. So, wanted to know if is a wise choice to go with Raheja QBE as they are new in the market. Would really appreciate if anyone can share some data point for making this decision better ?

[saisree]

My BIL is buying a new S-Cross and we got the insurance quote at 41K. Out of curiosity we tried New India Assurance and got a quote at 28K which had, B2B cover, Return to Invoice, Additional Tow Charges cover, Engine Protect, Consumables like Oil Covered in that Policy. The insurance from the Nexa was only B2B cover. We asked Nexa to allow us to buy the insurance outside or match the quote with the addons.

Now the SA is telling that, we can get the insurance from outside, given that we write an email stating " We have opted for insurance outside and Nexa will not be responsible for any delay in warranty claims and differences in the charges".

We are in a fix now and confused a lot. 18K is a hard earned money which,
we don't want to loose.

What do you guys suggest?
How is the experience after getting insurance from outside during claims?

[Traveler]

Originally Posted by saisree

My BIL is buying a new S-Cross and we got the insurance quote at 41K. Out of curiosity we tried New India Assurance and got a quote at 28K which had, B2B cover, Return to Invoice, Additional Tow Charges cover, Engine Protect, Consumables like Oil Covered in that Policy. The insurance from the Nexa was only B2B cover. We asked Nexa to allow us to buy the insurance outside or match the quote with the addons.

Now the SA is telling that, we can get the insurance from outside, given that we write an email stating " We have opted for insurance outside and Nexa will not be responsible for any delay in warranty claims and differences in the charges".

We are in a fix now and confused a lot. 18K is a hard earned money which,
we don't want to loose.

What do you guys suggest?
How is the experience after getting insurance from outside during claims?

I have never taken insurance from the dealer in the last 25 years. We have had almost a dozen or so cars during that time, all bought brand new. Never have I have faced any issues with claiming insurance from any dealer. Most established insurance companies have tie ups with the dealers and will happily honour the claim, even cashless.

The dealer is just pulling a fast on you in order to persuade you to buy the insurance from him.

One email to Maruti and he will fall in line. Don't worry, just go with any of the big established insurance companies and you will be fine.

[Thad E Ginathom]

Originally Posted by saisree

Now the SA is telling that, we can get the insurance from outside, given that we write an email stating " We have opted for insurance outside and Nexa will not be responsible for any delay in warranty claims and differences in the charges".

Look him straight in the eye and say, "Bullshit... Now just sell me the car." Because it is. Dealers have tried to get people to believe that one has to buy the insurance with the car, but there is no such requirement whatsoever.

Been there, done that. Although in very slightly more polite terms.

[saisree]

Thanks @Thad and @Traveler for your responses. So, we stood firmly on getting the insurance outside and Nexa has come down to match the quote with all the add ons. We got 15k discount and now the insurance sum came to 31K from ~46k with add ons. 3K more than New India Assurance outside but, still a worthy negotiation.

The beauty of this transaction is, I learned from our community that, we can negotiate on certain things during our buy. Thanks to all who have made this community a great place to be in.

[Doo_Dev]

I went to get the pricing for Himalayan yesterday, the quote for insurance given by dealer was around 17 k ( 1 yr comp + 5 yr Liability).

I remembered that for my Yamaha R3 , bought in March 2020 , the dealer quoted price was around 10 k ( 1 yr comp + 5 yr Liability)

I concluded that the RE showroom was trying to fleece me because the IDV for R3 is around 3.2 L whereas for Himalayan , it is a shade less than 2 L. After returning from showroom, i checked the quotes for R3 and Himalayan in policybazaar and was surprised to find that
1. Himalayan , IDV + Zero Dep between 1.6 - 1. 9 L : Premium varies between 13- 16 K
2. Yamaha R3 , IDV + Zero Dep between 2.5 - 3. 1 L : Premium varies between 8- 11 K

Given that the liability premium is same for 5 yrs, I was taken back by the higher premium for lesser cost bike. Does the insurer have less premium for low selling bikes or are there other metrics apart from IDV for premium calculation

[MSC]

A small query.
I have a 2020 model Hyundai Venue 1.5 CRDI. At the time of purchase I had got Liberty insurance from the Dealership itself. It was a comprehensive insurance policy with major add-ons like Zero depreciation, Engine protection, Key protection and consumables protection.
I had a small query regarding the engine protection addon. I tried to search lot but couldn't find. Only thing I could gather is that Engine protection is for engine and its parts. Does the engine protection cover Turbocharger as well if anything goes wrong? Turbocharger repairs or rather replacement is the usual norm at authorised service stations. No-one seems to bother for repairs these days and most likely you'll be asked for replacements.
Is turbocharger failure included in engine protection or general insurance policy of the car?

[sridhar24]

I have a query regarding the IDV value of the car in the policy.
Generally while taking the policy we get to choose the IDV within a given range of low to High IDV suggested by the company.

Say IDV is 2.5L as recommended by company, and we get to choose higher IDV of 3L in the mentioned range by paying more premium. Now in case of total damage to the car, will the company reimburse the standard 2.5L IDV or the chosen 3L IDV?

I had this query as one of my friend was told that by insurance company that standard IDV of say 2.5L only prevails in case of the total damage/loss claim.

[RBR]

Hello everyone,

I have booked my Nexon XZ+ (O) petrol from Delhi. The dealer is offering me an insurance at Rs 32840 (initial quite was borth of Rs 40,000).

Should I look for alternate quote? Dont want to create any hassles later on (be it car allotment and registration or claim, if there's a need)?

TIA

[ninjatalli]

Guys,
A bit of guidance on my insurance query.

I purchased a Royal Enfield bike about 2 years ago with dealer provided insurance having
- 1 year Own Damage cover
- 1 year Compulsory PA cover
- 5 year 3rd Party Liability cover
- Zero depreciation

Last year I renewed it online and didn't notice only the 1 year Own Damage was renewed while the PA cover wasn't. About 6 months later, I received a mail from the brokers (Aditya Birla Insurance in my case) saying the missing PA cover needs to be done and I should reach out to them to get the cover.

I missed out on doing that but my insurance renewal will be up in about ~45 days so I'm wondering what would be the best scenario to take up. Currently the bike is used sparingly (given the ongoing covid situation).

1. Wait for ~1 month and renew the 1 year Own Damage & PA cover along with it
2. Get the PA cover asap and do the renewal process around ~ a month from now

If I opt to get for the insurance cover via PolicyBazaar (or similar), after entering the bike details, I get a dropdown question on previous policy being
a. Bundled 1+5 year comprehensive policy
b. 1 year own damage only
c. 5 year 3rd party only
with the option b. highlighted as my last year policy. Is this a correct representation of my current state wrt my bike insurance? Also I don't see an option to add PA cover on Policy Bazaar (unlike Zero Dep) - is this something that gets added by default as part of 1 year 'Own Damage' quote?

Look forward to inputs from bhpians.

[ghodlur]

Originally Posted by ninjatalli

1. Wait for ~1 month and renew the 1 year Own Damage & PA cover along with it
2. Get the PA cover asap and do the renewal process around ~ a month from now

Do you have any existing PA cover either through office or personal buy? If yes, then that would suffice during insurance purchase of RE. If not then would suggest to buy one separately rather than opting for a bundled package.