[rjvora_2000]

Originally Posted by xtremethunder

I have booked Xylo E8 with ABS& Airbags @ Trichy, TamilNadu with an offer of free Insurance(Reliance/National Insurance). This offer is provided by M&M and the dealer says that there is no CASHLESS SERVICE with either of them . Is that correct ?
I would like to know the whether the insurance is tied to the dealers or the manufacturer. I am planning to get a quote from Bajaj Allianz.

1.Can you guide me on the list of the things needs to be checked in the insurance quote.
2. ALso on the list of CASHLESS insurance providers for M&M.

a. III party insurance.
b. Passenger insurance.
c. Driver insurance.

Let me tell you one thing first you will have to check with insurance company that with which company they have tie-ups with. At the same time let me tell you that this is not the correct way of going for insurance, but do it other way round. Firstly you need to decide with which service station you will get all your service done, then ask them with which company they have tie-up with and then choose the insurance company.

In quotes you need to check the following :-

1. IDV - which should be 95% of Ex-showroom cost.
2. PA to passenger - Rs. 100/- P.P. for Rs. 200000/- is given full. (This is optional you can Add, Change or Remove)
3. There is no voluntary excess in the quote.

3rd party is a law without which no insurance company can issue the policy so it will be always there in the quote.

(If possible stay away from Reliance and Icici even if they offer cheap insurance then any other company.)

[pjbiju]

Rupeshji,

Vehicle: Swift VXi (Mar 2006 model)
Current Insurance IDV : 262xxx
Insurance Amount: 7657 (includes 1 lakh PA cover for 5)

Quote from Maruti Insurance (IFFCO TOKIO or Royal Sundaram or ICICI Bombard)
IDV : 218871
Insurance quote: 7074 (free wheel balancing & alignment at Maruti service center worth Rs. 600 approximately)
All other terms are the same as the existing policy.

Quote from Bajaj Allianz
IDV : 250000
Quote: 7125 (Initial quote was Rs. 500 more): PA cover of 1 lac each for 4 persons. They quoted for 5 people. But since the owner-driver is anyway insured for 2.0 lacs, I asked them to make it 4 people. Was that the right thing to do?

Questions
Why such a difference in IDVs (initially Bajaj gave an IDV or 268xxx)?
Is the Bajaj quote good?

The NCB is zero.

Thanks in advance!
-Biju

[rjvora_2000]

If I reduce your IDV from 262K by minimum 10% then I am getting 235k which is a good value as your car's IDV. Tell both of them to give you quote on 235k, so it will become easy for you to compare. MI will give you all the reasons in the world why IDV should not be changed and why you should do business with, only MI and no one else, these are just a sales talk don't trust them much. If you decided to go with MI then choose Iffco as a insurer.

PA should be for 5 persons and not for 4 persons. Imagine that you gave your car to some of your friend, and he is driving with his family of 5 then in that case 5 person's PA is required as he is not a owner, still he is a driver.

[London Gujju]

Hi Rupesh
Thanks for your earlier advice on renewal of my Altis insurance. After following it I manged to bring down the premium! Now Infinium are quoting
24K for Reliance and same for Chola..However they usgget if I stay with
Reliance but accept that there will be no cashless service upto the amount Rs20K the premium will only be Rs 20000. Is this good deal?

[meerkat]

Hello friends, I'm going to renew my insurance next week.

Vehicle: Baleno LXi (Mar 2005 model)
Current Insurance (Maruti) IDV : 296k
------

Quote from Maruti Insurance
IDV (for renewal): 266k

OD discount: 25%

Anti-theft discount @ 2.5% = 175

(only extra offfer is a car wash worth Rs. 200)
------------------

Quote from Bajaj Allianz
IDV (for renewal): 266k

OD discount: 30%

Anti-theft discount = 500 (max allowed!)

Bajaj does offer cashless with Maruti service centres.

Bajaj was also willing to quote for a 10% higher IDV (equal to last year's level) since my car has run only 14000 km in 5 years!
------------------

The Bajaj premium quote is about Rs. 700 less (400 less for the 10% higher IDV) owing to the following two reasons:

1. Extra 5% OD discount ("that's the maximum we can offer, because your NCB is already 50%. Had it been 40%, we could have offered a 40% OD discount")!

2. I was straightaway offered a Rs. 500 anti-theft device discount (max allowed, even when I pointed out that 2.5% is only Rs. 175)! Is this even legal?
---

My question now is, is Bajaj giving me a good quote? Is it worthwhile to go for Bajaj for 700 rupees? I don't know if during a claim Maruti service centres will offer smooth service if I leave Maruti insurance. Also, I can't go back to Maruti insurance again, when my car is more than 7 years old!

Also, must my IDV come down 10% from last year, or can I opt for the higher IDV because of my car condition (run very little)?

Thanks a lot for all your help.

[rjvora_2000]

Originally Posted by London Gujju

24K for Reliance and same for Chola..However they usgget if I stay with
Reliance but accept that there will be no cashless service upto the amount Rs20K the premium will only be Rs 20000. Is this good deal?

Why there will be no cashless for less then 20K? Please check the quotes properly. I hope there in no excess in it.

Stay away from Reliance and go to Chola they are much better company as far as claim's is concern.

Originally Posted by meerkat

Quote from Maruti Insurance
IDV (for renewal): 266k
OD discount: 25%
Anti-theft discount @ 2.5% = 175
(only extra offfer is a car wash worth Rs. 200)
Quote from Bajaj Allianz
IDV (for renewal): 266k
OD discount: 30%
Anti-theft discount = 500 (max allowed!)

If there is claim tomorrow then Bajaj can recover the extra amount which you are getting (Anti theft) in the current quote. This may happen and may not happen, I am not sure.

Bajaj is one of the best insurer as far as claims are concern. Don't worry of changing from MI to Bajaj, they are a good company. There is no sense of higher IDV, you are wasting your money please don't opt for higher IDV and reduce your IDV 10% from last year.

[alto99]

Originally Posted by r_nairtvm

alto99,

When you sell your old car get the insurance cancelled and get a Certificate of NCB Kept in Abeyance from your insurer. The NCB earned can be kept in abeyance for up to two years.

Thanks fr your reply Ram,
It somehow got into my mind that this period is 3 months.

[anandpadhye]

Hello,

I need help with my new Skoda Laura insurance.
I bought this car on 4'th Feb 2010 and as I sold my honda city, I asked the dealer to transfer the 35%NCB to the new car. He said with this NCB, the premium for Laura will be around 34,000 (regular premium according to him was 50,000). I got the policy softcopy (Bajaj Allianz) for the same.

2 days ago, I independently checked with Tata AIG, ICICI and Bajaj and found that the regular quote itself is around 35,000 and with 35%NCB, it comes to around 24,000. Now it's my fault that I belived the dealer for the original quote but I curse myself for this.

What are my options now?
Can I switch-over to TATA AIG? Will Bajaj give me full refund? What are the IRDA rules and what are my rights as a customer?

I was so happy that I am a smart BHPean to tranfer the NCB from old car to the new, but the dealer simply "consumed" my NCB!!!

Would appreciate any help to get even with these guys...

Thanks in advance!

[r_nairtvm]

Originally Posted by anandpadhye

Hello,

I need help with my new Skoda Laura insurance.
I bought this car on 4'th Feb 2010 and as I sold my honda city, I asked the dealer to transfer the 35%NCB to the new car. He said with this NCB, the premium for Laura will be around 34,000 (regular premium according to him was 50,000). I got the policy softcopy (Bajaj Allianz) for the same.

2 days ago, I independently checked with Tata AIG, ICICI and Bajaj and found that the regular quote itself is around 35,000 and with 35%NCB, it comes to around 24,000. Now it's my fault that I belived the dealer for the original quote but I curse myself for this.

What are my options now?
Can I switch-over to TATA AIG? Will Bajaj give me full refund? What are the IRDA rules and what are my rights as a customer?

I was so happy that I am a smart BHPean to tranfer the NCB from old car to the new, but the dealer simply "consumed" my NCB!!!

Would appreciate any help to get even with these guys...

Thanks in advance!

I think with the NCB Certificate you can approach the Bajaj Office which issued your current insurance. Ask them if they can accommodate the NCB. Threaten them that you will lodge complaint against them and the dealer with the Ombudsman/IRDA etc. There may be some action in it. Threaten the dealer with consumer redressal as well.

The Bajaj Alliance can cancel your policy with a prorata refund and issue a new policy for one year with your NCB included.

Otherwise get your NCB Certificate kept in abeyance (by the office which has issued it) and you can use it with in two years for your renewal or another car belonging to you for its insurance renewal

Best Regards & Drive/Ride Safe

Ram

[vkochar]

Got My Accent Insurance Done from Bajaj Allianz.

Here are the details -

IDV - 2,60,000
NCB - 35%
Discount - 40%

Total 4750 or so I think.

Next year I will get 40 % NCB and 50 % Discount I am told if no claim.

PLEASE NOTE PEOPLE - It takes some persuasion to get 40 % discount BUT they do give it.

[Revy]

I am looking for insurance for my planned purchase of Ford Figo Titanium. Ex Showroom price is 529900 in Bangalore and the dealer's insurance offer is from Bajaj Allianze (Drive Assure). It is coming around 21 K and I found it to be too much ! On inquiring, they told it has some extra features like 100% payment up to 2 times in an year, insurance against stalling of engine blah blah..When I told I don't want all that, they came down to 17K !

Through easyinsurance.com, I asked for a quote. Their quote is almost half of what showroom people told, about 12 K only ! The IDV of the car is put as 5.03 lakhs. I don't know if any pitfalls are in this offer, how can they give so much of discount ? The insurance is from Cholamandalam. Dear members, please alert me if there is anything fishy with this offer, else I am too tempted to go with that offer.

[handsofsteel]

am a late entrant to this forum, so please excuse me if this question has been asked. my Brother-in-law is from the forces and has a mint condition fiesta sxi bought at rs 613000 (ex-showroom). this figure is reflected in his policy as the initial IDV. the car is now close to two years old and has done only 7000 km. he wants to sell the car as he has been deputed abroad. he is worried that the prospective buyer will have a look at the insurance policy and quote only based on the current idv (which is about 5.5 L). with all due respect, the car is definitely worth much more than that given the condition it is in. he wants to sell the car for about 6.5L. are his concerns justified? (the buyer would be getting a mint grade specimen at 1.5L less than the prevailing OTR). could he have avoided it by insuring the car for a higher sum in the first place? (say the ex-showroom price of the car in the open market which would have been about 7.2L at the time?). please let me know as i am slightly confused on this issue.

[rjvora_2000]

Originally Posted by handsofsteel

am a late entrant to this forum, so please excuse me if this question has been asked. my Brother-in-law is from the forces and has a mint condition fiesta sxi bought at rs 613000 (ex-showroom). this figure is reflected in his policy as the initial IDV. the car is now close to two years old and has done only 7000 km. he wants to sell the car as he has been deputed abroad. he is worried that the prospective buyer will have a look at the insurance policy and quote only based on the current idv (which is about 5.5 L). with all due respect, the car is definitely worth much more than that given the condition it is in. he wants to sell the car for about 6.5L. are his concerns justified? (the buyer would be getting a mint grade specimen at 1.5L less than the prevailing OTR). could he have avoided it by insuring the car for a higher sum in the first place? (say the ex-showroom price of the car in the open market which would have been about 7.2L at the time?). please let me know as i am slightly confused on this issue.

He can insurance his car for whatever amount he want's to but if there is a claim tomorrow then insurance company will not pay the claim as per the IDV then. You can choose the IDV whatever you want if insurance company agree to give him a policy which I think should not be a problem.

Originally Posted by Revy

I am looking for insurance for my planned purchase of Ford Figo Titanium. Ex Showroom price is 529900 in Bangalore and the dealer's insurance offer is from Bajaj Allianze (Drive Assure). It is coming around 21 K and I found it to be too much ! On inquiring, they told it has some extra features like 100% payment up to 2 times in an year, insurance against stalling of engine blah blah..When I told I don't want all that, they came down to 17K !

Through easyinsurance.com, I asked for a quote. Their quote is almost half of what showroom people told, about 12 K only ! The IDV of the car is put as 5.03 lakhs. I don't know if any pitfalls are in this offer, how can they give so much of discount ? The insurance is from Cholamandalam. Dear members, please alert me if there is anything fishy with this offer, else I am too tempted to go with that offer.

Friend, Drive assure is a very good plan which has a very good list of benefits I personally will prefer to go with that plan but not with the dealer quote but take this plan from Bajaj will be a cheaper option.

Insurance companies offer good discounts nowadays's on new car's that's the reason of cheap quotes. Check only one thing that is excess should not be there in this quote. IDV will be 95% of Ex showroom cost.

Originally Posted by vkochar

Got My Accent Insurance Done from Bajaj Allianz.
Here are the details -
IDV - 2,60,000
NCB - 35%
Discount - 40%
Total 4750 or so I think.
Next year I will get 40 % NCB and 50 % Discount I am told if no claim.
PLEASE NOTE PEOPLE - It takes some persuasion to get 40 % discount BUT they do give it.

NCB will be 45% and not 40% next year. It is difficult to get 50% discount on car's like Accent - I think.

Originally Posted by r_nairtvm

Threaten them that you will lodge complaint against them and the dealer with the Ombudsman/IRDA etc. There may be some action in it. Threaten the dealer with consumer redressal as well.

Dealer offering a less discount - In this case you can't go to court of law as giving discount is not a law.

Originally Posted by anandpadhye

premium for Laura will be around 34,000 (regular premium according to him was 50,000). I got the policy softcopy (Bajaj Allianz) for the same.
2 days ago, I independently checked with Tata AIG, ICICI and Bajaj and found that the regular quote itself is around 35,000 and with 35%NCB, it comes to around 24,000. Now it's my fault that I belived the dealer for the original quote but I curse myself for this.
What are my options now?
Can I switch-over to TATA AIG? Will Bajaj give me full refund? What are the IRDA rules and what are my rights as a customer?

This dealer has offered you no discount policy. You can cancel the policy and get the premium refund. Meanwhile you can approach any other insurer, explain him the things happen with you and let him guide you. Take the help of some good agent which will help you explain this story to insurance company.

[Revy]

rjvora, thanks a lot for your suggestion ! As you mention that Drive Assure is a good plan from Bajaj, I will try to get a direct quote from them. Willing to go with them even if it is 2- 3 K more than Chola. But never through the dealer who is making a rip off !

[rjvora_2000]

Originally Posted by Revy

rjvora, thanks a lot for your suggestion ! As you mention that Drive Assure is a good plan from Bajaj, I will try to get a direct quote from them. Willing to go with them even if it is 2- 3 K more than Chola. But never through the dealer who is making a rip off !

If you feel that Drive Assure is a costly option the ask Bajaj only to give you basic motor insurance quote. Which will be again a chipper option compared to dealer insurance.