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Insurance for Fiat Cars - Discussion

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

  1. pdydeva

    pdydeva Regolare

    Messages:
    442
    India
    renewal time for my 1 year old Punto

    Based on my research for a renewal for my year old Punto MJD 75hp, Royal sundaram seems to have an advantage of unlimited claims for a zero depreciation (or the bumper to bumper) policy. B.Allianz or TATA AIG gives 2 to 3 claims per year.

    Below are the quotes for a zero dep policy of 1 year old Punto 1.3 Emotion MJD:
    Royal sundaram - 17K with IDV of 5.6L
    B.Allianz - 15.2K with IDV of 5.47L
    Tata AIG - non-zero dep - 13.7K with IDV of 5.6L (Website didn't give an option for 0 dep policy)
    HDFC Ergo - non-zero dep - 14K with IDV of 5.6L (Website didn't give an option for 0 dep policy)
    SBI general - 15.6K with IDV of 5.6L

    Guys, kindly let me know your previous experiences with Royal sundaram.
  2. Re: Insurance - Q&A

    Go with insurance company which has tie up with fass..
    Bajaj allianz is a good company in that front, they are quiet professional and loan settlement is a bit of less hassle with them.
    You can go for zero dep insurance till the next insurance renewal only. (Till 3yrs)
    Btw increase your idv value and then compare..5.4l is too less.
    Ps:I do not represent any insurance firms. Just my opinion.

    Sent from my GT-N7100 using Tapatalk 4 Beta
  3. pdydeva

    pdydeva Regolare

    Messages:
    442
    India
    Thanks Arnab.
    Yes. BAllianz IDV is less. I feel that's a gimmick to show a lesser premium and cheat unsuspecting customers who don't know what is meant by IDV.
    Royal sundaram has that advantage of zero dep insurance for vehicles upto 5 years old unlike B.Allz or T.AIG for 3 yrs.

    I have almost frozen on Royal sundaram and they claim cashless facility at workshop of our choice. Have one feedback from my friend who had a hassle free repair settlement of his Dzire when it completely got rammed on it's side by a 407.
  4. I have renewed from RoyalSundaram after my insurance expired from FG. I opted RS as they given higher IDV and the cashless claim facility of our choice. I have already made a claim from RS post the accident occurred to my car. Claim was hassle free. Only I visited the workshop and submitted cliam form and everything was taken care from there. Claim was approved in 4 days.
    2 people like this.
  5. pdydeva

    pdydeva Regolare

    Messages:
    442
    India
    Thanks Praveen for sharing your experience.
    IDV is something we can request to increase which again will result in increase of the premium. But, it's wise to stick to what the insurance company suggests.
  6. Re: Insurance - Q&A

    No insurance company will give you excellent idv value happily unless they charge you higher premium ofcourse..
    You need to haggle with them till they come up with a value that you have in mind.
    Btw wat was the previous idv value??

    Sent from my GT-N7100 using Tapatalk 4 Beta
  7. pdydeva

    pdydeva Regolare

    Messages:
    442
    India
    If that question is for me.. My present IDV (less than a year old car) is 6.64L (95% of 6.99L - ex-showroom price). Expected IDV is > 5.6L (80% of 6.99L)
    1 person likes this.
  8. Re: Insurance - Q&A

    Forget all that percentage business. .
    My idv was 7.25l, at the time of renewal different insurance companies were offereing me idv from idv of 5.61 to 6.4 max.
    I wanted to go with Bajaj allianz, so I started bargaining with them and at the end of these ordeal got comprehensive insurance @15k for an idv of 7l.(initially they quoted 16.7k for an idv of 6.2l)
    My suggestion to you buddy would be see around the market if you hv time(considerable amount of time for insurance to expire)snd bargain hard on both terms..

    Sent from my GT-N7100 using Tapatalk 4 Beta
  9. PatchyBoy

    PatchyBoy Esperto

    Messages:
    2,438
    Bangalore
    Ideal way would be to start one month before. Get quotes from everyone and then pit them against each other. Make them beg you. You will get the best deal. My insurance with FG expired yesterday. I had started the game last week of last month.

    My approach to insurance is a bit unorthodox. I have been driving for more than 20 years now and have claimed insurance twice so far. So, my probability of claim this year is about 10%. Given that total loss settlements are hard to come by and given that the IDV cannot be overly inflated, I chose to actually reduce the IDV from the offered 7.7 L to 7.3 L. I also chose a voluntary excess of Rs. 5000 - meaning I cannot claim any damages less than 5,000, which I would not claim anyway, so as to preserve my NCB. Ended up renewing the policy with BA for Rs. 9806.

    For the insurance company, insuring your car is a gamble and they try to extract as much as possible with the gamble that you will not claim, especially total loss. I play along with that and get to pay as less as possible, also gambling that I will not claim. With my claim history, I believe the risk on my side is very less.

    Policy.JPG

    Rajan
    Last edited: Aug 28, 2013
    2 people like this.
  10. shams

    shams Esperto

    Messages:
    2,388
    Bangalore
    to people looking for renewing insurance, i would suggest to check out policybazaar.com!

    offlate i have observed that they offer the best quotes and hassle free renewal with very good buying experience!
    1 person likes this.

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