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Insurance for Fiat Cars - Discussion

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

  1. kirenh

    kirenh Regolare

    Messages:
    421
    Mumbai/Pune
    Pune
    Grande Punto 1.3 90 HP
    I don't think the actual owner is required. The FASS will take care of the formalities and your brother can sign on your behalf provided he has a valid driving license. Also please keep your insurer informed. Your brother can call them and ask for the formalities.

    Kiran
  2. vista7155

    vista7155 Regolare

    Messages:
    309
    bangalore
    Thanks Kiran for the information
  3. ghodlur

    ghodlur Esperto

    Messages:
    2,318
    Thane
    I am facing an issue with Royal Sundaram insurance as of now. My Punto's insurance expires on 16th June, hence decided to renew it (to take the advantage of lesser service tax which is going to be increased from June 1 to 14% from 12.3%). Surprisingly there was no reminder call or mail from RS, hence decided to check online. The quote on RS website was humorous, they under quoted the IDV by almost couple of lakh rupees and over quoted the premium by few thousands. To confirm whether the quote was actually genuine I tried buying 1) as a new buyer & 2) as a buyer from different insurance co. Both the times the quote was 1/2 the amount quoted for me as an existing user. Have called RS to respond back, unfortunately my mobile is playing a truant.
    --- Double Post Merged, May 27, 2015, Original Post Date: May 27, 2015 ---
    Some irritants from Royal Sundaram which were not there during last time Insurance renewal:
    1) Zero depreciation add on cover cost increased by Rs 600/-
    2) Windshield protection add on cover not available for car more than 3 yrs
    3) Engine Protector add on cover not available for car more than 3 yrs

    Got a call from RS and they debated that since Grande Punto is discontinued, they have a modelled calculation for the IDV given in the quote. They would not be able to increase the IDV, kya natak hai.

    Balaji Thane has cashless tie up with RS, Future Generali, Oriental & Tata AIG (New addition). My search for the best Insurance begins (again this year)
    asimpleson likes this.
  4. Ravi_M

    Ravi_M Regolare

    Messages:
    323
    Indore
    Indore
    Linea 1.3
    I followed insurance related posts last year for info before renewal of insurance, but finally went back to the first insurer Future Generali, as the FASC in Indore has a tie-up with on FG for cashless dealing. It was ~21k for IDV of 765000/- for third year, after one claim in second year. However, I availed service of an agent in hope of getting some cash-back, which never came!

    This year I had decided to either renew online or buy new online. I checked at Policy Bazar and they hounded me for few days sending quotes of Tata, HDFC, Reliance etc, but I was too busy to really check those. I checked FGs online renewal with Plan 1 add-on (same as last year's) and got a quote of 16.9k for IDV of 688000/- (4th year). I called FG helpline for all clarifications, as their online software doesn't show IDV. Policy bazar quotes were on higher side for Zero-Dep, so I went for FG renewal and got it renewed online last night. FG person guided me on phone to pay through a secure link he sent to my email.

    I could not get engine protection, back to invoice etc, but my policy covers Zero Dep, loss of key, valuable and RSA.

    Guys, I request your comments.
  5. ghodlur

    ghodlur Esperto

    Messages:
    2,318
    Thane
    In Spite of filling in all details correctly on the FG website for online renewal, they generated the quote but did not display it on the website itself. I thought it would be sent to my e-mail id mentioned but even after waiting for 3 hrs, no response. Their online system is the worst amongst all.

    If you car is more than 3 yrs old, you will not be eligible for other add on covers. They too have this stupid logic of calculating the nor of ownership years form the car manufacturing date instead of registration date.
  6. shams

    shams Esperto

    Messages:
    2,388
    Bangalore
    @ghodlur, have you claimed insurance in your current policy? Usually insurance company quotes more if you have claimed and want to renew with the same company.
  7. ghodlur

    ghodlur Esperto

    Messages:
    2,318
    Thane
    No, The NCB is intact. The FG rep called and offered 4.64L IDV at a premium of 14K. When I said the calculated IDV works to 5.4L, he said he would happily offer the IDv at the same premium but no guarantee of getting the IDV in case of total loss.:eek::punch::punch::punch::punch:
  8. unleash_thunder

    unleash_thunder Amatore

    Messages:
    105
    Bangalore
    Since my Punto is slated to celebrate its first birthday in a day, it was time to renew insurance. After going through various quotations from different insurance companies, i decided to shift to Royal Sundaram. The IDV is INR 462K and the premium is 15.7K for B2B including engine protector and windshield glass cover. Royal Sundaram's website is quite user friendly and the entire process was hassle free. Enumerating the reasons below for eliminating other insurance providers:

    a) FG: Called up their Indiranagar office a couple of times. Seems they are not interested in doing business. Hence, was good riddance.
    b) Bajaj Allianz: The IDV provided was INR 460K and the premium was ~14.5K for B2B. The quote was quite competitive and was near to that of Royal Sundaram (minus the add-on covers). Was a case of choosing between BA or RS.
    c) L&T: Quoted a very less IDV of INR 420K
    d) ICICI Lombard: After cross-checking on various forums and getting a feedback that it is not that good, decided against it.
    e) SBI: They never called back.

    Also, while going through RS website for policy wordings i found the following:

    The Company will indemnify the Insured against Loss or Damage to the Private Car insured hereunder and/or its accessories whilst thereon

    • by fire explosion self ignition or lightning;
    • by burglary housebreaking or theft;
    • by riot and strike;
    • by earthquake (fire and shock damage);
    • by flood typhoon hurricane storm tempest inundation cyclone hailstorm frost;
    • by accidental external means;
    • by malicious act;
    • by terrorist activity;
    • whilst in transit by road rail inland-waterway lift elevator or air;
    • by landslide rockslide.
    I construe that they will honour the claim in case the car is damaged by any of the above mentioned factors. Guys, let me know if my understanding is correct.
  9. ghodlur

    ghodlur Esperto

    Messages:
    2,318
    Thane
    Yes RS website is the most user friendly as I found it in my last year's renewal. But one claim in the year and they shun you like you are an untouchable. They will offer you the lowest IDV thereby forcing you to look for other insurance co. Again for the subsequent year (if no claims) they will welcome you with lots of goodies.

    There is nothing called as Loyal customer in their vocabulary.
  10. shams

    shams Esperto

    Messages:
    2,388
    Bangalore
    @ghodlur, what you mentioned above is a common practice prevalent across most of the insurance companies.

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