[ghodlur]

Originally Posted by pkulkarni.2106

So my questions to the learned members are:

• Do I need to transfer the name on the insurance now?
• Or shall I just put my name when I renew the insurance? Not even sure if this is the correct approach.
• What if the RC transfer takes more time? Is it fine if I still go ahead and renew the insurance?

Congrats on the Harrier and welcome to the fraternity.

Let me try answering your queries serially
1. Insurance ownership can happen post the updation of the RC with the new owner details. Some of the Insurance cos also accept the docs submitted for the RC change as an intimation of ownership change so that in case of any claims they are already aware.
2. You will need to buy the Insurance in the name of the previous owner as the RC reflects the same. Alternatively you can wait for the updation of RC and then change the ownership in Insurance policy.
3. If you expect the RC process to be delayed, then renew the insurance and keep the Insurance co informed of the change of ownership.

[airguitar]

My car's insurance renewal is due in a couple of months. The car would be 7 years old at the time of the renewal. I have looked around a bit and I don't see anyone offering a bumper-to-bumper insurance on a 7 year old car, even with higher premiums if required. Should I reconcile myself to regular/comprehensive packages?

[ghodlur]

Originally Posted by airguitar

My car's insurance renewal is due in a couple of months. The car would be 7 years old at the time of the renewal. I have looked around a bit and I don't see anyone offering a bumper-to-bumper insurance on a 7 year old car, even with higher premiums if required. Should I reconcile myself to regular/comprehensive packages?

Providing the zero dep add on is solely upto the Insurance co and there are many factors which decide that - age of the vehicle, claims, city of vehicle, resale value etc although this isnt mentioned anywhere but in the background these and few more criteria work. In case you are unable to get the zero dep add on with any Insurance co, you will have to stick to the plain comprehensive package.

[cryptarchy]

I have a question about insurance renewal. I have moved to a different state from the original state car is registered in. Do I renew the same insurance I have? Will it cause any issues while claiming insurance?

[Karaboudjan]

Hello Bhpians,
I am about to take delivery of my XUV700 AX7L AWD. The dealership insurance, as usual, is too expensive.
Could you all please advise a good insurance cover for my car? Also what riders should I choose on the policy? Presently I am scouting for insurance on policybazaar.com. Any other providers names are welcome. The lowest quotation I got was from United India of approx 60k.
Thanks and regards

[ghodlur]

Originally Posted by cryptarchy

I have a question about insurance renewal. I have moved to a different state from the original state car is registered in. Do I renew the same insurance I have? Will it cause any issues while claiming insurance?

Check whether the workshops in the new state have a cashless tie up with the existing Insurance co. If not, then you will need to find out the Insurance co with which the workshop have a cashless tie up and accordingly change the Insurance co.

Originally Posted by Karaboudjan

Hello Bhpians,
I am about to take delivery of my XUV700 AX7L AWD. The dealership insurance, as usual, is too expensive.
Could you all please advise a good insurance cover for my car? Also what riders should I choose on the policy?

2 things will decide this - which Insurance co has a cashless tie up with Mahindra workshops in your city/town & which Insurance co offers the best price. Check the online comparator websites and visit the Insurance co website for the final purchase. The moment you enter your details on the comparator websites you will be flooded with messages and calls. Take an informed decision.

Regarding the riders for a new car, I would suggest - Zero depreciation, Return to Invoice, Key replacement as min. If you are transferring your previous NCB and is more than 45%, then NCB protect would be another add on to have. Premium cost will be the limiting factor for selecting the add on covers. In the first year, pls note the premium will always be high due to the 3 yrs Third party Liability premium applicable.

[Karaboudjan]

2 things will decide this - which Insurance co has a cashless tie up with Mahindra workshops in your city/town & which Insurance co offers the best price..

Dear Ghodlur,
Really appreciate you taking time out to clarify my doubts here. Now things are much clearer. Will keep posted about my final decision soon.

Regards.

[TheDarkKnight]

Not sure if motorcycle insurance queries can also be answered here but here goes.

The Own Damage insurance for my motorcycle is up for renewal in a couple of days and the renewal quote I have received from ICICI Lombard is 30% higher than the premium I had paid for the same policy last year. This is with the IDV decreasing from 1.63L to 1.4L and NCB increasing to 35%. On speaking to the representative, I was informed that the insurance premiums have increased this year which is why I have a higher Basic Premium compared to last year.

On checking the various insurance aggregators, I am getting quotes as low as 1500 for the same cover. ICICI does have a tie-up with the preferred garage where the bike is serviced. Does it make sense to still stay with ICICI?

Cheers.

[ghodlur]

Originally Posted by TheDarkKnight

Does it make sense to still stay with ICICI?

Absolutely not. If you are getting a better quote than ICICI, you can take the decision of going ahead with the quote. Alternatively you can message ICICI of the quote you have and ask them to match it. If they can, they will renew the policy at the rate or else you can proceed with the new Insurance co.

[TheDarkKnight]

Originally Posted by ghodlur

Absolutely not. If they can, they will renew the policy at the rate or else you can proceed with the new Insurance co.

Thanks for your advice ghodlur. I spoke to ICICI but they were not ready to give a lower quote due to which I went ahead and got a new policy that also gave me Zero Dep at 55% lower price than ICICI.

Cheers

[callvvijay]

My b-i-l is getting Ather 450+ and we are working out on the insurance part.

Dealer provided - Reliance insurance
IDV: 138000/-
1 year OD + 5 year 3rd party + 1 year PA - Rs.6197/-

On our own - Acko insurance
IDV: 138000/-
1 year OD + 5 year 3rd party + 5 year PA - Rs.6762/-

So basically, by paying Rs.565/- more, he would be able to get 4 more years of PA (via Acko).

Is this a good deal to opt for? How much would PA cost if we take it up separately starting the 2nd year?

Lastly, are there any Ather owners who took Acko? Any advice on it?


Thanks!

[midazolam]

Is there a time frame within which one should claim insurance after an accident? The accident is a minor one, does not involve any other vehicle or a police case.

[shankar.balan]

Originally Posted by midazolam

Is there a time frame within which one should claim insurance after an accident? The accident is a minor one, does not involve any other vehicle or a police case.

Assess the cost of the damage/ repairs.
If the said cost is equal to or greater than the value of your accumulated No Claim Bonus, then you should claim insurance. After all, thats what it is for.
Ideally you should file a claim immediately or at least within 24 hours. In circumstances like the one you have described, you’ll have to declare it as ‘own damage’. On account of this, you can more or less declare that it ‘just happened’.

[midazolam]

Originally Posted by shankar.balan

Assess the cost of the damage/ repairs.
If the said cost is equal to or greater than the value of your accumulated No Claim Bonus, then you should claim insurance. After all, thats what it is for.
Ideally you should file a claim immediately or at least within 24 hours. In circumstances like the one you have described, you’ll have to declare it as ‘own damage’. On account of this, you can more or less declare that it ‘just happened’.

Thank you sir for the detailed explanation.
I had a tyre burst with alloy shattering, some damage to suspension due to debris on the highway. Was around 300km from home and had to leave car at relatives house. I took a cab back home due to some urgent work. Will get the car repaired through insurance once I get the car back.

[airguitar]

I hope that you everyone is aware of this now : https://economictimes.indiatimes.com...w/96591507.cms

KYC is mandatory for auto insurance purchase.

What I'm terrified of is how my documents will be handled by people that have no idea of how to handle sensitive stuff. Normally I buy my insurance through my authorized service center - they send 2-3 different quotes based on different providers. This time they asked me to "whatsapp" my PAN card details for the KYC. It's time the policy makers took a serious of not of the logistics before enforcing rules. A normal person selling insurance sitting in the operations desk of a service center will have no clue about handling sensitive information.