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Insurance for Fiat Cars - Discussion

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

  1. mnvvishwa

    mnvvishwa Novizio

    Messages:
    44
    Bangalore
    I need to renew my car (2nd year) insurance by mid of December and I have taken the quotation from Royal Sundaram, Bajaj and Future Generali.
    Which one of the above has the easy claiming process and also FASS (may be Vecto) accepts the cashless claim and also is it wroth to increase the IDV amount?
  2. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    Check out the response from Vecto themselves, they will be the best people to answer that. IMO all three have a good claim settlement process.
    Because Vecto supports cashless settlement doesn't mean you should increase the IDV. Calculate it as per the rules and regulations. Over insuring doesnt help in case of total loss, over that you pay an increased premium too. Not suggested.
  3. asimpleson

    asimpleson Esperto

    Messages:
    3,000
    Heptanesia
    Linea 1.3
    OTOH and correct me if wrong Girish, if say a higher value IDV is what the company suggests and one buys it, Insurance co. is liable to pay the amount in case of Total Loss. I think IIRC the point was discussed before on some post/thread with some IRDA rule stated.
  4. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    Yes, then it would have to bear the IDV amount in case of total loss since the Insurance co is at fault here. Rarely would a co quote higher IDV, they wouldnt want to be at the firing end do they? Hence they do whats the best, customer ke kandhe pe bandook & fire.
    asimpleson likes this.
  5. krish1484

    krish1484 Novizio

    Messages:
    43
    Chennai
    Chennai
    Linea T-Jet
    My T-Jet is due for 2nd year renewal too. It is with Future Generali now. While buying the car , I had opted for B2B cover (Premium: 25k, IDV:822,916) . The renewal quote given by them doesn't look satisfactory (Premium: 21,225 , IDV: 740,624). While IDV is at 85% of ex-showroom, I feel premium is high despite IDV coming down. Guide me if I'm missing something here!
  6. asimpleson

    asimpleson Esperto

    Messages:
    3,000
    Heptanesia
    Linea 1.3
    You can always switch to another company. Was there any claim in first year? Get competitive quotes if need be. Policy Bazaar gives good break-up costs. Makes things bit clear as to what to opt or leave.

    Year on Year depreciation will be applicable for sure if you mean to ask that. Perhaps some may offer better valuation (IDV) too.
  7. krish1484

    krish1484 Novizio

    Messages:
    43
    Chennai
    Chennai
    Linea T-Jet
    Thanks! There were no claims in the 1st year. I am Ok with this IDV. As suggested by you, will check for competitive quotes and also would try to reach out to Future Generali.
  8. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    I assume that the premium you have mentioned is with the zero dep add on. If so, then it seems fair amount. Also FG had revised the premiums and the cost of add on covers, add to that the change in the TP liability might have made the premium almost same as last year. As Aseem rightly said, check out for options but keep in mind which ones have a cashless tie up with Fiat workshop and take an informed decision.
  9. vivekrj.dieselhead

    vivekrj.dieselhead Regolare

    Messages:
    294
    delhi
    Get only 0% dep policy, no matter what.
  10. vista7155

    vista7155 Regolare

    Messages:
    314
    bangalore
    i have read here about Future General insurance cheating our beloved member still is it wise to go with this company :banghead:.
    please correct me if they have improved the customer service.

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