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Hunt for insurance

Discussion in 'Insurance & Loan Reviews' started by sathishgv, May 16, 2013.

  1. GP_Freak

    GP_Freak Amatore

    Messages:
    240
    Chennai/Madurai
    Chennai
    Linea 1.3
    @bharath , it was a generic question :p. Other than the premium part, I have no idea on the level of support when claiming insurance.
    bharath likes this.
  2. mahesh.bandel

    mahesh.bandel Amatore

    Messages:
    240
    Pune
    Grande Punto 1.3
    The premium ratings for depreciation waiver add on increases with the age of your vehicle. For e.g if the add on premium for the first year considering vehicle IDV 1,00,000/- was Rs 1000/-(1% of IDV) is bound to change to 1500/-(1.5% of IDV) for the next year. This seems to be the reason in your case.
  3. ghodlur

    ghodlur Esperto

    Messages:
    2,317
    Thane
    @mahesh.bandel

    A slight correction. Zero dep add on is calculated as a percentage of OD premium which is dependant on the IDV and in turn on the age of the car. So as the IDV decreases due to depreciation, OD premium falls and hence the zero dep add on cost. Thats the reason this add on cover is limited to maximum first 5 years of ownership.

    In my case vs Bharath's the difference in zero dep is due to huge difference in the OD premium.
    bharath likes this.
  4. bharath

    bharath Regolare

    Messages:
    328
    Coimbatore
    After much research and suggestions heard ,I finally decided to settle with Future Generali itself :).Reasons being the acceptable IDV & total premium including the zero depreciation add-on and a bit peace of mind to stay within the dealer/insurance provider.But the zero depreciation is applicable for the first two claims only unlike the unlimited claims offered by RS.

    Royal Sundaram was not able to provide me a better IDV & lower the premium even after showing them the FG's quotation! They were confident that a lower IDV doesn't play a role unless or until I claim a full damage and I had to give up finally.Policy bazaar was omitted at the beginning itself due to their crazy online calculation.

    RS Quotation details:
    Final IDV - 8,30,000 from the previous IDV of 9,37,000
    Final Premium -18,957

    ADD ON COVER – DETAILS
    1.Zero Depreciation
    2.Loss Of Key
    3.Loss of personal Belonging

    upload_2014-10-21_19-36-14.png


    The amount was paid and got the e-print of the policy through mail and the hard copy has been sent through courier by the CAI dealer
    to our native.Thanks Gentlemen for the valuable inputs @ghodlur @pv_krish @GP_Freak :).I hope my decision is fine:D.
    asimpleson likes this.
  5. asimpleson

    asimpleson Esperto

    Messages:
    2,998
    Heptanesia
    Linea 1.3
    @bharath, you said crazy online calculation. Can you elaborate what is wrong with online policy buying. I am interested to know if and how many people buy online policy cover.
  6. bharath

    bharath Regolare

    Messages:
    328
    Coimbatore
    @asimpleson ,the final quotes of IDV & premium seemed to totally disconnect from what FG and RS offered.The IDV (Tata AIG) was something around 6.60 lakhs :eek: and nothing came above 7 lakhs ,I remember .Too many add-on parameters further confused the process but I could quite learn some of the add-on terms! May be,I could have done better with my information entries to arrive for a better result.

    Further,I just didn't want to mess up things further by juggling here and there as anyways I had an intuition that I would finally choose between FG and RS :D.
    asimpleson likes this.
  7. ghodlur

    ghodlur Esperto

    Messages:
    2,317
    Thane
    Bharath,

    Good to know that you chose to stick with FG. I must say in this entire process you must have learnt a lot about Insurance which will help you in future to take such informed decision. Do pass on the information to your known people so that it helps everyone.
    Mind sharing the premium breakup of the add on covers?

    Happy Diwali and drive safely.
    bharath likes this.
  8. bharath

    bharath Regolare

    Messages:
    328
    Coimbatore
    @ghodlur ,the only add on cost mentioned is 3,486 (zero depreciation) but this covers the entire stuffs mentioned above.I had checked this particularly with them since they had mentioned only this cost.The details shared here are exactly taken from the mail they had sent.
  9. dr.kush123

    dr.kush123 Timido

    Messages:
    19
    indore
    Hi,
    I bought my punto emotion diesel on 1 dec 2013. Policy from future generali is due on 31nov2014. I never took any insurance claim uptil now. Now whem i asked for premium they say its 21406rs. Also my policy is an add on one. Which covers own damage and third party damage also. Is going for the renewal rigt. Or should i just go for a new one. Do u guys think that this premium is too much. I went through policybazaar and it hdfc ergo sliver plan is costing me 17,725rs.
    Guys i am really confused here. Please help me out.
    Thanks
  10. pv_krish

    pv_krish Regolare

    Messages:
    418
    Chennai
    Grande Punto 1.3 90 HP
    @dr.kush123, just a tip, when you go for a renewal, please take bumper to bumper. Bumper to Bumper would cost more. Check with Royal Sundaram for a quote.

    Also when taking, check with what companies FIAT has a cashless tie-up
    dr.kush123 likes this.

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