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Hunt for insurance

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

  1. bins

    bins Amatore

    Messages:
    75
    Bangalore
    Can you tell me what bracket of IDV depreciation I fall in.
    Purchase date of my first insurance(new car) is 28-March-2012. I have to renew in two days.
    Do I fall in the 20% category or 30% category. One insurance company said I fall in 20%. The other one 'agreed' I fall in 30%.


    [TABLE="width: 613"]
    <tbody>
    Age of Vehicle
    [TD="width: 319"]% Depreciation for adjusting IDV[/TD]

    [TD="width: 319"]Not exceeding 6 months[/TD]
    [TD="width: 319"]5%[/TD]

    [TD="width: 319"]Exceeding 6 months but not exceeding 1 year[/TD]
    [TD="width: 319"]15%[/TD]

    [TD="width: 319"]Exceeding 1 year but not exceeding 2 years[/TD]
    [TD="width: 319"]20%[/TD]

    [TD="width: 319"]Exceeding 2 years but not exceeding 3 years[/TD]
    [TD="width: 319"]30%[/TD]

    [TD="width: 319"]Exceeding 3 years but not exceeding 4 years[/TD]
    [TD="width: 319"]40%[/TD]

    [TD="width: 319"]Exceeding 4 years but not exceeding 5 years[/TD]
    [TD="width: 319"]50%

    [/TD]
    </tbody>[/TABLE]
  2. prashantgupta84

    prashantgupta84 Regolare

    Messages:
    383
    New Delhi
    Delhi
    Grande Punto 1.3
    u fall in 20% category.... i recently renewed my car insurance. Car purchase date is 13 march 2012.
    Last edited: Mar 26, 2014
  3. sathishgv

    sathishgv Regolare

    Messages:
    496
    Paradip, odisha
    Grande Punto 1.3 90 HP
    hunt for the year 2014

    This years hunt for insurance has become more easy for me as the choice available is very less due to the cashless claim facility of the Fiat SC in bhubaneshwar ::O:D. I have the following options only

    1. Future Generali
    2. Reliance Insurance
    3. SBI General Insurance and
    4. New India Assurance

    Already initiated the process of getting quote from future generali and sbi. I think i am going to restrict to these two only as i usually don't rely on reliance and i know the premium will be higher in New india assurance.

    The quote from SBI General website is

    [TABLE="class: grid, width: 500"]
    <tbody>
    IDV
    550000

    459000




    NORMAL
    ADD ON
    NORMAL
    ADD ON
    DESCRIPTION OF ADD ONS


    12596
    15840
    10647
    13354
    ZERO DEP



    15840

    13500
    +BASIC RSA



    16486

    14146
    +ADV RSA



    16497

    14158
    +LOSS OF PERSONAL BELONGINGS



    16947

    14607
    +KEY REPLACEMENT
    </tbody>[/TABLE]
  4. sathishgv

    sathishgv Regolare

    Messages:
    496
    Paradip, odisha
    Grande Punto 1.3 90 HP
    Got the quote from FG

    [TABLE="class: grid, width: 500"]
    <tbody>
    online
    411143

    550000




    normal
    add on
    normal
    add on



    8853
    14574
    11280
    15729
    plan 1



    11810

    11842
    plan 2

    phone









    10653
    15102
    plan 1
    </tbody>[/TABLE]

    Where the details of plan is as below

    Capture.PNG

    Though not intereste in Reliance and New India Assurance the following are the quotes from the respective websites

    [TABLE="class: grid, width: 500"]
    <tbody>
    reliance
    437659

    525000




    normal
    add on
    normal
    add on



    9847
    10067
    11497
    11748
    total cover



    11139

    12783
    NCB Retention



    11359

    13040
    both

    New India Insurance
    450000

    550000




    17033.2

    20618.6


    </tbody>[/TABLE]

    From these posts a comparison solely on price basis, Reliance comes in 1st position followed by FG, SBI and New India Assurance. Reliance does not offer zero dep, only total cover and NCB retention as Add on. As per FG website zero dep is valid only for vehicles less than 3 years old. Most probably will go with FG.
    Last edited: May 19, 2014
  5. ghodlur

    ghodlur Esperto

    Messages:
    2,320
    Thane
    @Satish,

    Even I got the same options from Future Generali for my Punto's Insurance renewal. The quote says of Plan 1 costing RS 2700+, NCB protection for Rs 1470 & Consumables for Rs 1760. Totalling costs around Rs 6K for the addons which is costlier than the earlier Gold plan. FG says they have discontinued the Basic/Silver/Gold plans for addons, reason it was becoming costlier to offer.

    I dont get it why RSA is being offered in Plan 1 & 2? Doesnt FG know that Fiat provides free RSA?
    1 person likes this.
  6. sathishgv

    sathishgv Regolare

    Messages:
    496
    Paradip, odisha
    Grande Punto 1.3 90 HP
    @ghodlur, I was thinking too about the RSA and decided to go without any add on and to stick with comprehensive policy only. Finalized with FG and will be purchasing after 25th of this month.

    To me all the add on seems to be marketing gimmick, only to get more money from the customer.
  7. prashantgupta84

    prashantgupta84 Regolare

    Messages:
    383
    New Delhi
    Delhi
    Grande Punto 1.3
    Zero dep addon and windshield protection are really useful and not marketing gimmick
  8. ghodlur

    ghodlur Esperto

    Messages:
    2,320
    Thane
    Me too. I can live without NCB protection add on and others but feel Zero dep and Consumables are required since the car is only an year old. But it surprises me that FG had a Basic add on prebundled package which had zero dep and consumables but now they are seperately charged. :chair:
  9. sathishgv

    sathishgv Regolare

    Messages:
    496
    Paradip, odisha
    Grande Punto 1.3 90 HP
    Ok I agree that when required they are useful but my point is why they should be required. This will lead to the argument that accidents happen without notice. True, accidents happen without notice but not to all. Accidents are waiting to happen and it happens to those who in some way are other not following safe practices, who is not careful and who thinks he is invincible.
    Last edited: May 21, 2014
  10. prashantgupta84

    prashantgupta84 Regolare

    Messages:
    383
    New Delhi
    Delhi
    Grande Punto 1.3
    imagine your car wind shield broken one fine morning...u claim insurance and pay 50% for the glass and also lose NCB....but with windshield protection at almost Rs. 500 to 1000 u dont have to pay anything + ur NCB is also saved......accidents can happen anytime anywhere even if your car is parked. I dont think investing Rs.1K for 7L asset is foolishness.......

    - - - Merged Post - - -

    I have an experience to share:

    last months there was un seasonal rain accompanied 2-4 inch lumps of ice (ole). My Cars back windshield was broken and there were dents in car. Now tell me it was my mistake i was not following safe practice. Then why to take insurance at all......

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