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Fender dent ... need help in deciding insurance or own pocket

Discussion in 'Insurance & Loan Reviews' started by krishna.sree, Sep 8, 2013.

  1. IMG_3320.jpg IMG_3322.jpg IMG_3323.jpg

    BMTC bus brushed my car from left on my outing in bangalore city .. :(
    Could you please help me decide whether I should go with insurance or bear the expenses from my pocket.

    Service guys at vecto motors were quoting 7k to 10k for this job and are asking me to go with insurance..
  2. RedPoint

    RedPoint Amatore

    A general understanding which I got from my friends is anything below 10k, just go with your own money and save the NCB.
    But there are experts who will have a perfect ans for this.
  3. PatchyBoy

    PatchyBoy Esperto

    Loss of NCB has multiple parameters and cannot be arbitrarily defined as a specific sum of money - say 10000 or 15000. Here is what you need to consider.

    1. How many times have you renewed your insurance so far?
    2. Assuming no claims, what is the NCB you are eligible for next renewal?
    3. What is the estimate for this repair?

    Say this is the first year and the estimate for this repair is 5000. If you claim, you will not be eligible for NCB next year. So you will lose 20% discount in your premium next year. If the discount you will lose is more than 5000, then it does not make sense to claim. This being the first year, the discount will be less than 5000, so go ahead and claim.

    OTOH, if this is the sixth time you are renewing, again assuming there were no claims, you will be eligible for 50% NCB. So, if you make a 5000 rupee claim, not only you will not be eligible for the 50% NCB, but your count will be reset - meaning you will get no NCB for the next renewal and you will be only eligible for 20% the following year, assuming no further claims.

    Also beware - the more claims yo make, the more your premium will be. You will be categorized as high risk. I am also aware of cases where no insurer wants to offer a policy, due to too many claims.

    In this case, first get an estimate and then post here, so we can help you make a more informed choice. Also, please answer the other 2 questions in the beginning of the post.

    1 person likes this.
  4. rsinfo

    rsinfo Regolare

    New Delhi
    My fenders are also in the same shape. But I don't intend to do anything as these cars are prone to fender damage due to long "nose".
  5. Thanks Rajan for the information.

    I took the delivery of the car 15 days back,
    And this would be my first claim.

    And regarding the estimate, I visited vecto motors and they saw the car and said it would cost me close to 10k,

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  6. And regarding the NCB, i guess its 20% , though I din't check with the insurance company, by the way, the insurer is Future Generalli...

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  7. Thanks Rajan for the info,

    I got the delivery of the car only 15 days back .. :(
    so this is my first claim,

    I checked with vecto motors and the service head checked the car and quoted 7k to 10k.
    reg NCB, I am not sure, I came to know about my insurance company yesterday only, its future generalli ...
  8. PatchyBoy

    PatchyBoy Esperto

    Visually, I can see that the front bumper will need repainting and the left front fender will need denting and painting. Insurance will generally only pay 50% for plastics. Not sure how much it is for painting of plastic parts.

    The quote by Vecto is on the higher side. Please also check with other service providers. Also keeping mind, if you get it done by Vecto or any other SC and claim insurance, there will be an accident record entered in your car's service history, which could affect the resale value, if and when you decide to sell.

  9. N Kiran

    N Kiran Staff Member Janitor

    Guys at the service center will always be quoting more than what it actually costs thus making the customer go for insurance. When questioned they would simply answer, "You would get it from insurance, all you need to pay is Rs.500 or 1000."

    My suggestion, go to a competent garage in you city and ask for a quote. I am sure it would be around 3-5k max. Pay from your pocket.
    1 person likes this.
  10. DRIV3R

    DRIV3R Esperto

    This is the pearl white shade and hence cannot be touched up on the bumpers. Had it been BNW, it is child's play to touch up the bumper.

    If you need a cost effective solution for now, get rubbing and polishing done on the bumper, fender and live with it for some time till you get accustomed to the car and traffic.

    Once you have saved enough, and if you are willing to go the insurance route, you can get the whole bumper painted and the fender replaced and painted. There is not going to be much difference between the price of getting the old fender dented and painted against getting a new one painted. Take your call.
    1 person likes this.

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