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Insurance for Fiat Cars - Discussion

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

  1. kunwar.g

    kunwar.g Superiore

    Messages:
    522
    Gurgaon
    Grande Punto 1.3
    I have started reviewing and checking on the 1st renewal of my 2014 GP Active. The IDV on the 1st Insurance is 5,38,208.00, however the Invoice that I have it just for 4,80,000.00. The total amount I paid was 5.16L. Wonder why and how the IDV was set at 5.38L. Wish I had ref checked it last year. Wouldnt it be better to keep the IDV realistic ? So, if on invoice its 4.8L then with 10% the IDV should be around 4.3L ?

    I have heard some sad feedback for FG and so willing to switch right now, though the dealer called a few days back and offered to renew with FG. When enquired further they offered L&T too. Have confirmed to have casless facility only with FG, RS and BA. Also RS and BA have confirmed to have cashless with most FIAT service centers in all major cities.

    Below is a list of options I have as of now. Really leaning towards RS cause currently for online customers they below as free, valued at Rs 2500.00

    1.RSA
    2.Towing
    3.Repair on spot
    4.Flat Tyre
    5.Pick-up in case driver is incapacitated
    6.Fuel
    7.Repatriation
    8.Legal Assistance

    BA is just giving RSA and Free Towing

    Please suggest. Green are ones I have shortlisted. Blue are provided by Dealer

    Insurance premium.jpg
  2. ghodlur

    ghodlur Esperto

    Messages:
    2,317
    Thane
    Always better to keep the IDV realistic. If the IDV as per calculation is coming 4.3L, then get the online quotes for this values and then compare since the comparison quote chart as put up by you shows different IDV's.

    Royal Sundaram is a better choice amongst the two. The premium quoted by them is inclusive of the zero depreciation add on cover, correct??
  3. kunwar.g

    kunwar.g Superiore

    Messages:
    522
    Gurgaon
    Grande Punto 1.3
    So, I am correct in calculation of depreciated IDV value basis the invoice amount and not just the IDV from current insurance.

    All the quotes are with zero dep.
  4. prashantgupta84

    prashantgupta84 Regolare

    Messages:
    383
    New Delhi
    Delhi
    Grande Punto 1.3
    You can go with RS. Last year i had RS and made 2 claims. The process was very smooth. Go with Zero dep if you can.
  5. ghodlur

    ghodlur Esperto

    Messages:
    2,317
    Thane
    No, your assumptions are wrong. Calculate IDV based on either
    1) IRDA rules which says "Current Exshowroom cost" of the model/variant times the depreciation in % based on the years of ownership
    OR
    2) Insurance co's thumb rule which calculated IDV on 10% less of last year's IDV.
    In your case the first rule is not applicable coz Insurance co have in their database Grande Punto as discontinued model, hence they will not accept this calculated IDV. Better opt for 2nd rule.
  6. kunwar.g

    kunwar.g Superiore

    Messages:
    522
    Gurgaon
    Grande Punto 1.3
    @ghodlur, I was told something similar by the RS rep and the idv of RS is basis same, however they also gave option to reduce IDV by max 10% which brings down IDV from 4.67L to 4.20L and the premium reduces by just 800.

    I will check with BA if they can also reduce IDV from 4.84L by 10%. The premium of BA is lower than RS with higher IDV, cause of only 2 Cashless claims...doubt if I would ever need mote than 2 in a year.

    But in terms of service hope BA is at par with RS if not better.
  7. ghodlur

    ghodlur Esperto

    Messages:
    2,317
    Thane
    Just ensure that your car is neither under insured or over insured, just right insured. Will save a lot in case of claims as Insurance co while offering Insurance do give the option of increasing/decreasing IDV but when it comes to claims there is a lot of debate on the IDV which if incorrect can be hassle in claim processing.
    kunwar.g likes this.
  8. Raj_pol

    Raj_pol Regolare

    Messages:
    495
    Bangalore
    Punto Evo 1.3
    I have to renew my insurance in spetember as Odin would be one year old then. My experience with FG has been pathetic and I intend to move to a different insurance provider.
    Can you let me know based on actual usage which would be a reliable insurance provider in Bangalore?
  9. vista7155

    vista7155 Regolare

    Messages:
    306
    bangalore
    @Raj_pol
    I have been with royal Sundaram and had 2 claims.
    Both are cashless with vecto,so far no issues in claim and was trouble free but they are bit slow in processing.
    1st claim was around 10k and 2nd 1.5L and it is zero depreciation insurance.
    This time i am thinking to go with them due to cashless facilities,they offer high IDV and trouble free experience.
    But I will compare with Tata aig because herd good reviews about them.
    1st year I had Bharathi axa they were fast but surveyor is not so good and always tries to find a loop hole during the claim and also they don't have cashless with Fass.
    If you get good deal let me know because my insurance is also due on 3rd September.
  10. Raj_pol

    Raj_pol Regolare

    Messages:
    495
    Bangalore
    Punto Evo 1.3
    @vista7155 Thanks for letting me know. Yes, I will try with Royal Sundaram and see what deal I get. Will keep you informed on the same.

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