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I do have a 35% NCB certificate post selling of my car and when on lookout for Insurance of the would be new car, I could see on my many comparator websites as well as on the Insurer's websites no option to use the NCB when trying to find the premium for the new car. I was surprisingly told to claim the NCB during the renewal by the comparator website helpline. However on the Insurer website when called their helpline assured me that they will include the NCB. Anybody faced this?

Another irritating turn of event is when NCB eligibility wasnt applied, the zero dep add on cost was a part of OD premium component. The moment I mentioned NCB, the zero dep cost was removed from the OD premium and was told NCB would apply only on OD premium and not on OD + Zero dep cost.:Frustrati

In my case, the insurer was same for both my old car and new car. Initially the new car policy did not have the NCB. I had to follow up several times with the helpline, but eventually got the NCB applied on the new policy.

Companies follow different rules. For example I enquired with ICICI Lombard, they asked me to first get new policy and then apply for NCB for refund which didn't make sense to me.

Best way to get the benefit is to go for same insurance company who issued the NCB. That way they should honor the NCB at the time of buying itself.

By the way, OD doesn't include add on covers like zero dep etc AFAIK.

Really then add-ons are applicable to which part ? I understand we have

1. Own Damage (OD),
2. Personal accident cover (PA cover)

Only under OD all types of add-ons and deductibles are listed.

Also I have query on the mandatory 1 year OD and 3 year PA cover applicability as a owner of pre-owned vehicle. PA is applicable to original owner or the insurance owner post transfer of ownership.

I'm asked for 914+174 on top of existing insurance renewal amount as the vehicle is in a company name. The payment for name transfer of 60 INR is for individual to individual and not for company name to individual.

Please advice.

Folks,

Would emergency assistance cover from Hdfc for insurance cover the towing charge etc if we get stranded?


Is it worth taking it? Or waste of money? Comments appreciated.

Thanks!

Posting this on behalf of my friend & seeking the Insurance Gurus help please:

My good friend met with a minor accident during October 2021 on a return ride to Chennai at Guntur, AP. The RSA towed his Triumph Street Triple 765 to the "quick responsive" ASC, which was Hyderabad, AP rather than nearest & non-responsive Guntur ASC while turning deaf ears despite my friend's plead on towing to Chennai ASC.

His current insurance is with Iffco Tokio. His Striple was towed to Hyderabad on Sunday 24 October 2021. The insurance surveyor visited the showroom a couple of days later; the ASC & my friend had submitted all the details & documents pertaining to the claim.

On 3 Nov, the insurance company informed the dealer to strip the motorcycle & provide an estimate. The initial estimate was submitted by ASC to the insurance company on 8 Nov which was approved on 9 Nov. The ASC later informed that the motorcycle will be fixed only after 2 months since a few spares were not available.

On Tuesday 21 Dec, account of luck or whatsoever, the motorcycle was fixed & ready to ride state & it was time for the insurance surveyor to inspect the motorcycle. They were supposed to inspect the motorcycle on Friday 24 Dec, then another promise of 25 Dec which was also promptly missed. And the next visit was scheduled on Monday 27 Dec which didn't happen either; however, the ASC called up the no-show surveyor & demanded to pay a visit to close the paper work for which the surveyor had approved verbally & still awaiting for written proof.

Meanwhile, ASC claims that this was the first time they're interacting with Iffco Tokio folks & also had requested my friend to switch to some other nationalized insurance company as well.

Tuesday 28 Dec, my friend had paid the full amount to the ASC (~2.2 Laks since the dealer & Iffco Tokio does not have tie up, he had to pay to ASC & the Iffco Tokio refunds my friend the eligible amount). The insurance is expiring on Monday 3 Jan 2022 & he does not wish to continue with Iffco Tokio nor want them to unnecessarily drag his reimbursement process & he has narrowed down to 3 choices without a clear focus because of mixed opinions stating:

1. He'll get reimbursement since Iffco Tokio guys have already agreed for repairs during initial assessment, so going ahead & switching to another insurance company should be OK

2. He should wait until to get a confirmation from Iffco Tokio folks stating the amount due to be paid & then take a call on switching the insurance company since he has time till 3 Jan

3. Some of them say that Iffco Tokio isn't that bad, just that they work a little slow, so he may not get an email from them while keeping his fingers crossed on the claim

Experts - Kindly guide in your valuable inputs as how he should proceed please as he's little unsure due to many more mixed & negative feedbacks. Thank you

Hi All, need some quick advise.

We are taking delivery of a new i20 next week, the bank is offering a very good deal on the insurance and is almost 15k lesser than the dealership quote. Now the dealer is forcing us to go with their insurance as they are claiming that the car was booked under inhouse insurance quota and is also threatening to cancel booking and deliver the car to another customer. We never committed to take insurance from them.

What approach should we take in this scenario?

You can walk into a dealership and drive out with an i20.

Tell him to (insert something unprintable in your local language here) and walk away.

Then don't buy from your bank either, buy the insurance online.

Thank you. Just wanted to confirm if there was any obligation or if there was any such quota. Will challenge this with the dealer and ask this in writing from them.

Hi, I bought a pre owned BMW in Dec 2021 end and the insurance is up for renewal before 02 Feb 2022. My dealer has been slacking a bit and though the ownership transfer application is logged with the RTO, the actual transfer has not yet happened.

My query is this - when I renew the insurance on 01 Feb, in whose name should the insurance be? I cannot do it in the previous owner name as otherwise I will have to go through the process of insurance transfer. If I get it done in my name, god forbid if required, how will I claim an insurance as RC is in previous owner name and insurance would be in my name. What should I do?

Also, as I understand, on renewal I cannot take NCB as that is tied to the individual and not the car. So how do I handle the case of "no claim" in previous year but still have 0 NCB. Do I have to necessarily talk to existing insurance company in case I do not want to renew with them? Even if the transfer of ownership is completed before Jan end, the updated new RC would take about a month to arrive. Please suggest.

Two alternatives:
1. Renew the Insurance in previous Owner's name. Wait for the RC change of ownership to happen and then approach the Insurance co for the ownership change on the policy
2. Let the old insurance expire. Buy a new Insurance in your name. Later check in parivahan whether the Insurance is updated against your name.

Today just got surprised when I came to know about this:

Iffco Tokio is not letting me renew insurance of my 2004 make car stating that govt has set a rule that a vehicle of more than 15 years cannot be renewed through any of these private insurers. It can be now done only through a government insurer like United India or National insurance etc. A new rule it seems. Is that so?

The vehicle has FC renewed and valid till 2024 and I was just trying for a third party insurance renewal as usual.

Can anyone please tell me which insurance company to select when buying a new car. I booked a new Hyundai car and their insurance rates are pretty bad.
I am being charged 37184 for basic insurance + 7771 for (0 Depreciation + RTI + Engine protect).
I selected all these addons on policy bazaar and average price is under 25K. That is like 20K less than Hyundai. But I am not sure of the company to do go for. Is the number of cashless garages an important factor and a deciding too?

Dealer quotes are mostly way over priced. If you are looking for outside insurance on your own then it is important to consider cashless tie up with your nearest Hyundai service center and also good track record of claim handling /settlement. This would ensure peace of mind during any unforseen insurance claim. For example, I enquired with Acko and though their quote was very attractive, the caveat was that they do not have any tie up with Hyundai and would suggest nearest multi brand garage for any insurance claims. I was not comfortable with that so decided not to consider them and went with ICICI Lombard on my own which was about 30% cheaper than dealer quote. Of course I had to endure some rough moments with the dealer as obviously he was not happy losing easy money but it all went ok in the end.

Once you have outside quote then check with dealer if he is willing to match the quote. That will be the best scenario. You will also get to know his reaction so that you can prepare yourself accordingly. I have read some posts where dealer simply refused to allow outside insurance (I know it is not legal but for some high demand cars, they are able to arm twist).

In my case, the dealer offered me 10K discount from his end on car (not insurance) but when I told him I am planning to take from outside, he told he won't give the 10K discount. For now I told him I will take insurance from him but plan to change it later to self bought (i can do this right?).

And yes dealer was not ready to match quote.