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Insurance for Fiat Cars - Discussion

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

  1. shams

    shams Esperto

    show him this pdf: http://www.royalsundaram.in/Files/CAR-INSURANCE.pdf and ask what is the meaning of this line "IDV shall be treated as the ‘Market Value’ throughout the Policy period withoutany further depreciation for the purpose of Total Loss (TL)/Constructive Total
    Loss (CTL) claims."

    The catch in this is that unless the car is very badly damaged in an accident, the insurance company does not agree to label the case as Total loss/CTL. With assistance of SC, they somehow manage to give repair estimate not exceeding 75% of insurers share which is the boundary condition for CTL.

    Once this happens, they offer other settlements known as 'Net-Off salvage' and 'Cash Loss' for which there are no IRDA rules. the owner ends up literally at their mercy.
  2. vayfiat

    vayfiat Amatore

    Thanks Shams. Before seeing your post, I had pointed them to the above pasted clause by you from their own policy wordings and the IRDA PDF. On a later call, somebody else had attended the call then and said that his colleague was wrong there and said sorry!!! I finally renewed with Royal Sundaram for an IDV of ~Rs. 6,90000. Premium Rs. 16,946 with Rs. 2,500 as Voluntary Deductible. I got the right model of the car too- Punto 90HP Sport as per their website.

    Safer option seemed to be taking one from a nationalized insurance company - but no cashless facilities and settlement on time, as I heard. This is forcing us to take from private junks. 24x7 RSA, Engine protection etc offered by these companies are real farce. The only thing which sounded good was Depreciation cover.
  3. amarprusty


    I have moved to Amsure Car Shield from Royal Sundaram after trying Reliance and ICIClombard.

    Let me know if you need any help can get you good benefits

  4. ghodlur

    ghodlur Esperto

    If you are intersted in Royal Sundaram and confused which variant to choose in the absence of your variant in their list, try chatting with them online and enquire about the same.
    1) Dont do that, enquire and confirm first before you decide coz the variant will be mentioned in the policy document and might pose an issue in case of claim settlement.
    2) This is because the Insurers data base of the cars, models, variants & their cost dont get updated periodically. We know that car manufacturers keep changing the exshowroom cost depending on the sales and the same isnt communuicated to all Insurers, so what you see on the website is often old date and hence varied IDV's. But most of the Insurers do provide an option to change the IDV when buying Insurance online to a certain limit only.

    Can you elaborate on why dont want to continue with Future Generali?
  5. binaiks


    Which Insurance?

    My car's insurance policy (currently with Bajaj Allianz) is about to expire on 21st of this month. My present SC honours Cashless for Future Generali, National, ICICI and Royal Sundaram.

    I could not find an option to buy a policy online for Future Generali. RS quoted around 7.6K for a policy (through their call center) whereas National quoted around 10K on their website (they do not provide NCB initially - reportedly refund after verification). Which one would you guys suggest? Read some horror stories of FG on this website. Not sure of how RS is.
  6. mchanna

    mchanna Superiore

    From the various reviews Bajaj-Allianz, Tata-AIG, Royal Sundaram are popular among TFIans.
  7. nithin.v

    nithin.v Amatore

  8. ghodlur

    ghodlur Esperto

    Surprised to see FASS tie up with ICICI. Stay away from ICICI. You can take an online quote from Bajaj, Royal Sundaram and compare. for FG, you need to talk to their customer care, they dont have online premium quotes facility.

    IMO the order of preference suggested is Royal Sunadaram>Bajaj Allianz>Future generali>National.
  9. aruncep

    aruncep Amatore

    IMO Royal Sundaram is good. I was having RS bumper to bumper cover for my old Wagon R and the claim process was hassle free. But if you go for B to B then it might be a bit costly when compared to normal. At the time of my Wagon R's insurance renewal Maruti offered its insurance for 3800 and RS for 6400.
  10. Italia-Linea

    Italia-Linea Staff Member Janitor

    With all my investigations and survey done i concluded that Royal Sundaram is the best and more ethical amongst all providers.
    2 people like this.

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