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Insurance for Fiat Cars - Discussion

Discussion in 'Insurance & Loan Reviews' started by Ravi, Jun 17, 2010.

  1. dj.nish

    dj.nish Superiore

    Messages:
    543
    Mumbai
    Concorde Motors called me. They said they have tie up with 5 companies for "hassle free" insurance - Royal Sundaram, Tata AIG, Bajaj Allianz, ICICI Lombard and one more name which I forgot.

    Yes, if you read it twice and still couldn't believe, its true. They dont have Future Generali on their list at all! No wonder I wasn't called by them earlier for renewal. So weird. They are co-managing Fiat and they don't have FG on their list?

    On top of it, when I ask for a quote from the above 5 companies through Concorde, the lady asks me to scan and email or fax the current policy cover note in order to generate the quote. Now I have neither a scanner nor a fax machine at home. SO basically she put down the phone saying 'I'm sorry sir I cannot offer you a quote'.

    WTF! All others simply asked for basic details!

    How much is your IDV and premium?
    Last edited: Sep 25, 2012
  2. rsinfo

    rsinfo Regolare

    Messages:
    422
    New Delhi
    The IDV was Rs. 7,20,000/- & the premium was Rs. 18,850/- which includes 20% NCB.
  3. PuntoMJD

    PuntoMJD Amatore

    Messages:
    126
    Pune
    Pune
    Grande Punto 1.3
    My Punto's insurance is expiring on 1st OCt12 and no single call from FIAT/Future Generali. I got online quotation from Policy bazar

    Insurer Premium (Inc. Taxes)
    Bajaj Allianz Rs. 11,372
    Reliance Rs. 11,749
    HDFC ERGO Rs. 12,502
    IFFCO TOKIO Rs. 12,502
    Bharti Axa Rs. 12,371
    L&T Rs. 15,000

    L&T guy told me that we can take only 2 claims (in a year) for zero depreciation. Is it true?
    But i am inclined towards New India assurance. Their probable quotation is around 12K (comprehensive). Anybody have experienced with New India assurance? whether they are tie up with FIAT-TASS?
    Last edited: Sep 26, 2012
  4. rishike007

    rishike007 Esperto

    Messages:
    1,416
    Mumbai-Pune
    Pune- Mumbai
    Grande Punto 1.2
    I'm amazed to see that future generali is not in the list, then why they insured our vehicals with these insurance company? My insurance is getting expired by 20th of October & received the quote from future generali last weekend itself.

    But after seeing this post, which insurance company I should opt for?????
  5. ramjn

    ramjn Staff Member Janitor

    Messages:
    5,243
    Chennai
    Linea 1.3
    The policy for my car expired on 14th Sep. I did receive a proper renewal updation reminder mail from FG to my registered home address with the renewal premium amount. Still, I went ahead to get quote from outside and ended up with HDFC Ergo just because of the higher IDV given by them. I paid Rs. 21800 for the IDV of 8.30L. Note that I did not enjoy the NCB.
  6. PuntoMJD

    PuntoMJD Amatore

    Messages:
    126
    Pune
    Pune
    Grande Punto 1.3
    what is the necessity of higher IDV value :???:
  7. dj.nish

    dj.nish Superiore

    Messages:
    543
    Mumbai
    Good question and a risky move at times as well.

    IDV kicks in at the time of total loss or theft. The insurer is bound to reimburse money equal to the IDV. However, that's where a lot of debate happens. If customer has asked for IDV to be increased, the insurer may contest at the time of reimbursement and there will be an unnecessary delay in getting the claim amount. That's why it is suggested to stick to the IDV calculation as per IRDA regulations, or the one offered by the company initially. Almost all companies allow for +/- 10% variation in the IDV, but unless you feel the figure is severely inaccurate, do not go for a higher IDV.
    1 person likes this.
  8. PuntoMJD

    PuntoMJD Amatore

    Messages:
    126
    Pune
    Pune
    Grande Punto 1.3
    I renewed my Punto insurance with New India Assurance (owned by govt.)

    IDV value - 495000
    Premium - 10655 (comprehensive and including NCB 20%)
  9. soccerfan

    soccerfan Regolare

    Messages:
    480
    Kochi
    Just renewed my insurance from Bajaj Allianz for Rs 7737. IDV is 417500.
    Got the policy through Berkshireinsurance.com. they give 7.5% discount if you have a facebook account. Incase you are planning to go for bajaj allianz try berkshire isnurance
  10. varunrtr

    varunrtr Esperto

    Messages:
    1,256
    KL-01/ TO
    Grande Punto 1.3
    Discount for having a facebook account !! WOW.. world is travelling at an unimaginable pace !!!!
    Will try it out next time for sure :)

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