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Comprehensive Insurance or Bumper to bumper and preffered insurance company

Discussion in 'Insurance & Loan Reviews' started by Pauleralil, Jun 18, 2012.

  1. Pauleralil

    Pauleralil Regolare

    Messages:
    324
    Kochi/Bangalore
    was your insurance bumper 2 bumper or comprehensive?

    Sent from Mobile Office device
  2. shams

    shams Esperto

    Messages:
    2,388
    Bangalore
    new insurance from Tata AIG was comprehensive. prior one was bumper to bumper from Bajaj.
  3. Pauleralil

    Pauleralil Regolare

    Messages:
    324
    Kochi/Bangalore
    I think for new Tata Aig B2B insurance plan they have introduced this process.

    Others opting for TATA AIG can also confirm
  4. limraj

    limraj Superiore

    Messages:
    915
    Trivandrum
    Linea 1.3
    I have got quotations for bumper to bumper (zero depreciation) insurance from L&T Insurance for 2013 Jan 25 registered Linea.
    they have mentioned that I can make only 2 full coverage claims and other claims will be treated as if ti was comprehensive insurance style.
    I have made no claims in last year.

    Option 1 :
    IDV - 9L
    Zero Dep, Coverage for driver, passengers and paid driver
    ₹21,071/-

    Option 2:
    IDV - 7L
    Zero Dep, Coverage for driver, passengers and paid driver
    +Return to Invoice (they would re-imburse exshowroom price + registration charges in case of car being totalled)
    ₹21,542/-

    I'm confused. Should I go for L&T? Can I make only 2 'full' claims for B2B? Should I go for IDV of 9L or 7L?
    Please help.
  5. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    @limraj,

    B2B insurance is nothing but comprehensive insurance with zero dep as an add on. If the Insurer claims that 2 full B2B claims will be entertained in the policy, then ensure the same is mentioned explicitly in the Insurance policy document. L&T is a relatively new player in the motor insurance business, hence no specific history of claim settlement is available to understand how their claim process work. If the Fiat workshop where you service the Linea does have a cashless tie up with L&T you can think about it but get some information from the workshop how is L&T's response when it comes to claim settlement.

    Regarding the IDV doubt, it is always advisable to go by the depreciation rates to arrive at the IDV value. Most of the times Insurers try to lure the customer with lower IDV and hence lower premiums which may backfire when theres is a case of total loss. Hence stress for the correct IDV calculations.

    Who was the previous Insurer for the Linea?
  6. limraj

    limraj Superiore

    Messages:
    915
    Trivandrum
    Linea 1.3
    Previously it was Future Generali, the default comprehensive policy at the time of buying.
    I checked for car evaluation at CarWale. For June 2012 manufactured Linea MJD, Good price for at individual is 8.24L and excellent is 8.54L.My registration was however Jan 2013, the prices raise by 0.5~0.6L. IDV of 8.75L may be more reasonable one.

    L&T has written about 2 full claims and their policy and also as I understand from different threads, it is the same for all insurers with B2B coverage.
  7. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    To get the actual IDV use the calculations as
    IDV = % depreciation (as per year) X Present exshowroom cost of the model/variant.
    Check out the current exshowroom cost of the Linea MJD and use the depreciation chart availaible in the policy document (in your case its 15%) and you should get the IDV. For more practical purposes most of the Insurers quote a flat 10% depreciation of the last year's IDV which according to IRDA rules is wrong.
    2 people like this.
  8. shams

    shams Esperto

    Messages:
    2,388
    Bangalore
    limraj, I remember reading in another insurance thread that royal sundaram offers unlimited b2b claims in a cycle. you might want to check their quote.
  9. aruncep

    aruncep Amatore

    Messages:
    127
    Chennai
    If Royal Sundaram have cashless claim tie up with Fiat service centers then I would say it is one of the best in the market now.
  10. limraj

    limraj Superiore

    Messages:
    915
    Trivandrum
    Linea 1.3
    thanks ghodlur, shams & aruncp.
    I have just talked to Royal Sundaram insurance. Yes, They are offering unlimited cashless claims.
    For B2B coverage, their premium is 21K for an IDV of 8.25L.
    He also offered free transportation, lodging etc, in case of emergency.
    I am waiting for their offer in the mail. Mostly, will go ahead with them.
    1 person likes this.

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