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Hunt for insurance

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

  1. mahesh.bandel

    mahesh.bandel Amatore

    Messages:
    240
    Pune
    Grande Punto 1.3
    Pronoy,

    Go with RS zero depn, return to invoice & windshield waiver. They provide hassle free services & please rule out voluntary deductible and other ways of cutting off premiums.

    You could land up in a dizzy in an event of a claim.
  2. pronoy_banerjee

    pronoy_banerjee Amatore

    Messages:
    155
    Pune
    The above quotes were from the website, however when i spoke to the insurance executive over the phone today she informed me that for "return to invoice" i cannot reduce the IDV, i will have to stick to the system calculated IDV of 526400.
    This would shoot my premium to 18159.

    Also, the above does not include any Voluntary excess deductible.

    So now I am planning to go for 0% dep and windshield waiver with IDV of 526400, which should keep my premium at 16504/- INR.
  3. SHASHANKREDDY

    SHASHANKREDDY Superiore

    Messages:
    631
    HYDERABAD
    Hyderabad
    Grande Punto 1.3
    Hi Guys,

    I am buying pre-owned palio stile. Right now i am in hunt for insurance.
    Previous insurance was lapsed.Got a quote from ICICI Lombard and United ...for around Rs 8k. But IDV value is 2.5 Lakhs.
    Is this quote is appropriate. Please advise.

    Regards,
    Shashank
  4. rudresh

    rudresh Regolare

    Messages:
    264
    Hyderabad, India
    I m here to renew the car insurance. I had no claim last year on FG. What is the best recommendation. I have some questions too

    1. What is the benefits of keeping higher IDV? My IDV varies from 4.5 to 5.5 from different companies
    2. Comprehensive Vs Zero Dep. Do the companies hassle for Zero dep claims?
    3. Tie up with FASS for cashless options.

    1. Royal Sundaram
    2. Bharti AXA
    3. Tata AIG
    4. FG
  5. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    1.There are no benefits of keeping higher IDV unless the case is total loss. Calculate the IDV based the yearly depreciation applicable. Generally Insurers quote lower IDV which results in lower premium which might lure the customer in buying the Insurance.
    2. There are 2 types of Insurance - Comprehensive or Third party. Zero dep is an add on which is available with either of the type. No, companies dont hassle for zero dep claims.
    3. IMO FASS has cashless tie up with Future Generali, Bajaj Allianz, Oriental Insurance. But this depends upon the dealer to dealer.

    Amongst the shortlisted Insurer find out with which of them does your workshop have a cashless tie up and enquire with the workshop about the claim reimbursement period too. Decide accordingly.
    1 person likes this.
  6. Pauleralil

    Pauleralil Regolare

    Messages:
    324
    Kochi/Bangalore
    my strategy is to keep thw idv value high or at par with the depreciation rule by irda for the first 3 years along with zero dep cashless option. This allows peace of mind at an unfortunate event like accident or something else.. after 3years stick to comprehensive and may be after 7years (if you still own the car) go only with 3rd party insurance

    Sent from Mobile Office device
  7. NishanthNag

    NishanthNag Amatore

    Messages:
    106
    Bengalooru
    Bengalooru
    Grande Punto 1.2
    My Punto Insurance needs to be renewed by Jan 1st week (1st renewal+no claims). Got call from,

    FG (B'lore): IDV: 6,29,828: Premium: 11,649 (Comprehensive)
    FG Via My friends BOSCH: IDV: 6,50,000: Premium: 11,700 (Comprehensive)
    FG Via My friends BOSCH: IDV: 6,50,000: Premium: 17,140 (B2B)

    By Postal: AXA: IDV: 4,39,341 Premium: 9,372 (Comprehensive)

    I am planning to continue with FG (Comprehensive) via referred by my friend. My suggestion is to go with higher IDV as mentioned above by Pauleralil. What IDV provided by AXA is pathetic for 1st year renewal. Can i get better discount than above (11,700). Thx :)
  8. vayfiat

    vayfiat Amatore

    Messages:
    220
    Bangalore
    I had purchased a much more costlier one from RS (but comparatively an OK cost for similar policies from other companies) - Zer dep with 6.9L IDV - for Rs. 16900 Premium. You don't want to go for a zero dep? (atleast for first 3 yrs, it is a must to have.. beyond that you don't get a zero dep in any case).

    Regards,
    Vinod.
  9. PathFindeR

    PathFindeR Novizio

    Messages:
    30
    Bengaluru
    Thanks to this THREAD got to know so many things about Insurance.. better than any wiki..

    Got my Insurance today from Bajaj Allianz with a Good IDV of 580000/-

    Happy Me ... :dancing
    1 person likes this.
  10. rajks

    rajks Amatore

    Messages:
    146
    Bangalore
    My 1st year FG insurance is getting expired tomorrow. I am trying to get online quote from Bajaj Allianz & Bharati. The web form asks for "NCB" as Received in the existing Policy, can you let me know what is the NCB that can be availed for the 1st year renewal? Is it 20%? I haven't made any claim.

    For calculating the IDV I am using the below formula, is it fine?
    - IDV quoted in present insurance - 15% depreciation (My car was registered on Feb 2013)

    Thanks
    Raj

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