[kaushikr]

Originally Posted by sushantr5

Hi,
I own Indica Vista Aura Qudrajet and second renewal of car Insurance is due.
My First insurance was with ICICI Lombard then in second year I switched to Bajaj Allianze. For first renewal with Bajaj Allianze I paid premium of Rs.11400 for Rs.400,000 IDV.

Now here are the different quotes I got from different companies.

1) Bajaj Allianze: They quoted Rs.12,500 for same IDV of Rs.4 lakhs. I said that last year I paid less premium for this much IDV. Then adviser said Tata cars have higher number of claims so Insurance premium is higher this year for TATA cars. And this much I need to pay to renew my policy.

Moreover this, the premium comes Rs.10,400 for same IDV if I am not Bajaj Allianze customer. I then infuriated and said you are ripping existing customers by charging more. I am going away from you and hung the phone.

2) ICICI Lombard: Rs.8900 for IDV Rs.3,50,000.
3) Tata AIG:
IDV is Rs.370,000
for 0% depreciation Premium is Rs.13,600
and for normal policy Rs.11,800

If I choose Bajaj Allianze and Tata AIG, I will be paying more premium to that of I paid while purchasing new car. I am confused. Please help me in choosing insurance for my car.

If I choose ICICI then I will save lot of bucks but it is ICICI. However in my first year of ownership I was with ICICI and I made a claim in that year which they promptly settled. While first renewal ICICI quoted higher premium and then Bajaj Allianze gave me much less so I switched over to Bajaj. It looks like companies have tradition of ripping existing customers.

Please help.

Sushant, it was a similar situation with me. ICICI with whom I have an insurance for 4 years now were quoting a higher insurance premium for a car which was a year older and with lower IDV. On further inquiries, they doled out the same story, "According to a survey, the number Hyundai vehicles involved in accidents were more and hence the higher premium". Shopped around and found that Royal Sundaram and Chola gave better deals than anyone else out there.

Just look around. You should find an insurer who suits your pocket.

[Holyghost]

Hello, I had made a claim this year and that claim got rejected by Bajaj Allianz.
This was the only claim in last 2 years. Will I loose my NCB even for a claim that was "denied" by the company?

[HammerHead]

I need to renew my cars insurance sometime next month. Car was manufactured in Sept. 2009 and registered in Jan. 2010. I got following quote from Tata-AIG.

Details:
1. IDV is Rs 4,50,638/-

They have offered 3 plans:

• Pearl (Premium = 12,612/-)

- Depreciation Reimbursement
- Repair of glass, fiber, plastic and rubber parts
- Loss of personal belongings
- Emergency transport and hotel expenses
- Key Replacement

• Titanium (Premium = 14,799/-)

- Depreciation Reimbursement
- Repair of glass, fiber, plastic and rubber parts
- Loss of personal belongings
- Emergency transport and hotel expenses
- Key Replacement
- Daily Allowance

• Platinum (Premium = 17,334/-)

- Depreciation Reimbursement
- Repair of glass, fiber, plastic and rubber parts
- Loss of personal belongings
- Emergency transport and hotel expenses
- Key Replacement
- Daily Allowance
- Return to Invoice

I have following questions.
1. How is IDV calculated?
2. Any other policy offering similar features?
3. Any suggestions regarding what to look for and what not to?

Note: I'm new to auto insurance

Thanks in advance.

[razorBlades]

I met with an accident in the early 2008 and my claim was approved and they are still sending the cheque to me whenever I ask them! Its with TATA AIG and I have a motorcycle!

The claim was for 2500 rs but tired of asking them again and again about the status! Very bad response from the customer care too..

is there any other way to chase them?

[<Badguy>]

Hi Bhpians,

I am new to this insurance world and I tried to find answer to my query before posting this but was not able to find it.
I am going to buy a new vehicle very soon and with the help of team-bhp came to know that a lot can be saved by getting insurance done directly from companies and not getting it done from dealer. Now I am going to purchase vehicle from my hometown Kanpur and going to use vehicle in Delhi/NCR region using the registration of Kanpur only.( Have recently shifted to NCR so no permanent address as of now).
Will there be any issues with the insurance claims (if any) if made in workshops of NCR?

[GTO]

Originally Posted by Holyghost

Hello, I had made a claim this year and that claim got rejected by Bajaj Allianz.
This was the only claim in last 2 years. Will I loose my NCB even for a claim that was "denied" by the company?

Nope

Originally Posted by <Badguy>

Now I am going to purchase vehicle from my hometown Kanpur and going to use vehicle in Delhi/NCR region using the registration of Kanpur only.( Have recently shifted to NCR so no permanent address as of now).
Will there be any issues with the insurance claims (if any) if made in workshops of NCR?

Shouldn't be. Insurance is generally given on an all-India basis. Some of my cars are registered in Nasik, yet I've had no problems with claims in Mumbai.

That said, if you are permanently moving to NCR, your registration + insurance papers should reflect that too.

Originally Posted by Holyghost

Which all insurance companies provide 0% depreciation policy for Jan 2008 Safari?

AFAIK, no one will give you 0% depreciation on a 3 year old vehicle (for obvious reason).

[dilipkumar7278]

My Fortuner completes one year this month and its time for renewing insurance policy. Last time the insurance was done by the dealer Nippon Toyota (Reliance ). After calculating the transferred NCB from my previous car (45%) I paid 30000Rs lat time. Today Tata AIG gus called me and quoted me Rs 21000 as the renewal amount.What is your opinion regarding this quote? Shall I contact other agencies for their quote also? I am copy pasting the e-mail I got from their office
Dear sir,

TOYOTA FORTUNER

VALUE 1661400
BASIC PREMIUM 55541
DISCOUNT 27777
NCB 13885
OWN DAMAGE 13885
THIRD PARTY 2625
NET PREMIUM 16510
TAX 10.3% 1701
FINAL PREMIUM 18210/- (NORMAL PREMIUM)

BUMBER TO BUMBER PREMIUM-22777/-
Regards
Dilip Kumar

Also who provides the best service and value for money among the companies? Your early inputs are appreciated...

[Monaro]

could someone please tell me what happens if your insurance expires, and you do not renew in time? Do you lose out on NCB or something if renewed at a later date?

thanks.

[ghodlur]

Originally Posted by Monaro

could someone please tell me what happens if your insurance expires, and you do not renew in time? Do you lose out on NCB or something if renewed at a later date?

thanks.

A grace period of a month or so is allowed by most Insurance companies and this does not affect the NCB. Howver it is always better to get the insurance renewed on time coz you never know that things wont go wrong during the period where you dont have any insurance.

Just picture an accident and subsequent claims and you not having the Insurance.

[Monaro]

Originally Posted by ghodlur

A grace period of a month or so is allowed by most Insurance companies and this does not affect the NCB. Howver it is always better to get the insurance renewed on time coz you never know that things wont go wrong during the period where you dont have any insurance.

Just picture an accident and subsequent claims and you not having the Insurance.

Thanks a lot for that and I am well aware of the consequences

The thing was that I tried renewing my insurance through bajaj allianz on the net, but the payment apparently failed to reach them though I got charged. So due to this mess-up I got delayed.

[Visaster]

I have a 9yr old car. A 2001 Nov made Santro LS.
No insurance claim made till date. Maintained in it prime condition.
I am planning on getting another sedan pretty soon.
And i wish to transfer the NCB on this Santro to the sedan and get a newer insurance for the santro as it will work out cheaper for its depreciated value.

Whats your suggestion on it.

Well to top it i need to make a claim on the santro's insurance (once the new insurance is done) and get a complete paint job cause it has gathered multiple small dents over the past couple of years due to the roughians on Chennai roads.

Can anyone help me work around this problem/idea ?

[Thad E Ginathom]

No insurance company in the world will cover you for damage done before you took the policy.

I am very critical of many insurance-company policies and practices --- but you cannot expect them to give handouts to make your car look like new! Even your existing insurer will probably not pay for miscellaneous dents gathered over the years, even if you were willing to give up your no-claims bonus.

[noopster]

Guys this point cannot be made enough- for a new car DO THE INSURANCE YOURSELF. And if possible, contact a good insurance agent who can get you even lower premium than tlking directly to the company. If you go through the insurance company directly, negotiate hard and well. You won't believe how much you will save by this.

[dilipkumar7278]

Originally Posted by dilipkumar7278

My Fortuner completes one year this month and its time for renewing insurance policy. Last time the insurance was done by the dealer Nippon Toyota (Reliance ). After calculating the transferred NCB from my previous car (45%) I paid 30000Rs lat time. Today Tata AIG gus called me and quoted me Rs 21000 as the renewal amount.What is your opinion regarding this quote? Shall I contact other agencies for their quote also? I am copy pasting the e-mail I got from their office
Dear sir,

TOYOTA FORTUNER

VALUE 1661400
BASIC PREMIUM 55541
DISCOUNT 27777
NCB 13885
OWN DAMAGE 13885
THIRD PARTY 2625
NET PREMIUM 16510
TAX 10.3% 1701
FINAL PREMIUM 18210/- (NORMAL PREMIUM)

BUMBER TO BUMBER PREMIUM-22777/-
Regards
Dilip Kumar

Also who provides the best service and value for money among the companies? Your early inputs are appreciated...

Guys
No reply. Can anyone suggest which is better among Insurance companies...Tata AIG, Reliance, or any other service provider? Please reply...Its urgent....
cheers

[Holyghost]

@dilipkumar7278: I believe the bumper to bumper premium you have mentioned is the 0% depreciation policy provided by Tata AIG. If that is the case, the premium you pay is good.

If you go through this thread, from different user opinions, among private players, TataAIG and BajajAllianz are the best. People generally stay away from insurance providers like Reliance and ICICI.

Try to get a quote from BajajAllianz too. They too provide 0% depreciation policy under DriveAssure scheme. Then you can decide based on the pemium and fetures provided under each policy.