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Drive assure, anyone?

Discussion in 'Insurance & Loan Reviews' started by FastLove, Apr 12, 2011.

  1. FastLove

    FastLove Superiore

    Linea 1.4
    I have got the drive assure policy for my car since April ,2010. This policy works out at a higher premium than regular policy. Approximately Rs. 6000 more than regular one. The advantage being that I pay only Rs.500/- no matter what the claim is.

    I have not claimed entire last year so this year inspite of a NCB , my premium works out to 17500 for drive assure and 11600 for regular policy. Now, my query :
    1. Assuming that I have a claim worth over 10000Rs. , Should I do it now and lose the NCB which is 20% or should I claim post renewing the policy?.

    2. If I claim now, and renew with regular policy will that make more sense. ?

    Sent from my Nexus One using Tapatalk
  2. VahanPujari

    VahanPujari Staff Member Janitor

    Try this....:D

    1. Get the Renewal letter with assessed renewal premium before claiming the insurance. This will be with NCB & hence lower.
    2. After getting the renewal advice, immediately Claim the insurance before expiry from 1st insurer.
    3. Do not renew with 1st insurer. Renew with other insurer using the renewal letter of 1st insurer (which is with NCB benefit)
    Last edited: Apr 12, 2011
  3. Ravi

    Ravi Staff Member Janitor

    Grande Punto 1.3
    Great idea VahanPujari.:D
    Last edited: Apr 20, 2011
  4. Grandeur

    Grandeur Staff Member Janitor

    Now you know how beneficial is to have Bank wala...on board ;).
  5. PaddleShifter

    PaddleShifter Staff Member Janitor

    Grande Punto 1.3
    That is so funny. ::V :lol
  6. Fiat-Yamaha

    Fiat-Yamaha Superiore

    This is not at all possible......

    Even i had planned the same way at the time of my Punto insurance renewal last month & informed about my plan to My friend working as a Manager with Bajaj allianz.

    He stated that once i renew policy with Bajaj they send an intimation to previous Insurance for details on old policy to make sure every details given by customer matches with Insurance. However if I claim from old policy before expiry dt, immediately the same will be intimated to New insurance as My new insurance will commence from next day. Moreover new insurance policy will not be handed over to us(Only cover note after payment) Original policy copy will be mailed to postal address with in 1 month.....Dont ever try this guys as we will be loosing NCB for next year

    Old Ins: Futurgeneralli
    Expire dt April 5th
    New Ins: Bajaj Allianz renewed on 25 th March

    I have opted for Drive assure (Rs. 4K) extra, so total Premium was Rs.17k(No NCB from previous policy)
  7. VahanPujari

    VahanPujari Staff Member Janitor

    Well I successfully & "accidentally" did it 4-5 years back. I was, in any case, to change the insurer. I got the renewal letter from 1st insurer with NCB. Then unfortunately car met with an accident & I had to claim it just before it expires. The new insurer asked for renewal letter which I duly furnished :). See, they are competitors. You never know if they send the details & if they send, how much time will they take (also, there is nothing to lose, in any case you were to lose NCB from 1st insurer, so where is the loss?). It's a no-loss situation.

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