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Mamma Mia - White Stallion rides home - BNW Grande Punto MJD emotion.

Discussion in 'Punto 1.3 MJD' started by ghodlur, Jul 9, 2013.

  1. ghodlur

    ghodlur Esperto

    Messages:
    2,325
    Thane
    After a lot of deliberation finally bought the Insurance for the stallion for the year 2014-15 from Royal Sundaram. The details of renewal as below:

    IDV: 610880 OD premium: 11735
    NCB discount: 2933
    Zero dep add on: 3971
    Windshield add on: 367
    Total OD: 13410
    Third party Liabaility: 1732
    Total premium: 14872
    Taxes: 1839
    Net Premium: 16710

    Actual IDV works to 608125 as per IRDA rules of current showroom cost i.e 715442 (Thane) times the depreciation rates 15%. RS in their initial quote had mentioned 541380.

    The RS customer support guys patiently answered all my queries and in the excitement did call me more than a couple of times. They later stopped calling me after I told them gently of the consequence if they tried to pester me.

    Other insurance co considered: Future generali, Oriental Insurance, Tata AIG - online and through Fiat dealer. But as they say self help is the best help, hence the decision tilted towards RS.

    Only sore point is I couldnt print the policy immediately after the payment but recd the policy in the registered e-mail address. Also there is no details of the nomination on the policy.
    1 person likes this.
  2. asimpleson

    asimpleson Esperto

    Messages:
    3,000
    Heptanesia
    Linea 1.3
    Girish, like it or not but you are (had I the power) officially TFI's top insurance specialist. Certainly atleast you got a very keen eye about Insurance and overall Financial related aspects. Thanks for sharing mate..! :p

    Just one odd query, how much is it in the power of the agent or the customer to alter the actual IDV calculated such that the premium and effective Insurance with regards car age, actual market value and overall pro and cons of being adequately or inadequately insured? In other words, what are if you or others can share, the right balances to strike when buying a policy keeping in mind the age of vehicle (depreciation) and the real world probabilities and insurance companies practices of claim settlement, so as to pay an optimum premium and have a good win-win deal overall..? Any random thoughts in this regards would help. Thanks.
  3. ghodlur

    ghodlur Esperto

    Messages:
    2,325
    Thane
    Aseem,

    You made me blush. No but seriously I feel every customer who buys Insurance (for that matter any type) need to do the due diligence coz its their money (hard earned) and not get fooled by gimmicks. There are many specialist on the forum, to name a few like shams etc share their valuable information on the forum which helps TFIians to save some money and in return get the knowledge which they can further share.

    Coming to your question. Pls see below the wordings mentioned in the policy document (this is common for all insurance co) esp the highlighted section

    The IDV of the Private Car (and accessories if any fitted to the Private Car) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model as the Private Car insured at the commencement of insurance/renewal and adjusted for depreciation (as per schedule below).

    Its a simple calculation. But most of the times the Insurers provide a quote with IDV calculated as depreciation rate times the previous year's IDV which may at times match the actual calculation. However most of the times the difference exceeds more than 20K which means lesser IDV and therefore lesser premium amount (difference of around 2K) which attracts the customer. Now the customer is at times allowed to up the IDV (Customer thinks that more the IDV better the repayment by Insurance co in case of total loss) by around 15% max (as seen in most online quotes). So there is a discrepancy between the actual calculated IDV and the one opted by customer. In case of total loss Insurance co would see the lowest of the two IDV and repay accordingly in which case the customer is the loser coz he has already paid higher premium for a higher IDV.

    So the best way is the strike a balance between the two. If the actual calculated IDV and the one available either online or agent provided more or less match, take the one which is higher provide the difference is not more than 20K. Lot depends on the manufacturer's selling price (ex showroom cost) which needs to be verified before the Insurance policy year start every time the Insurance is up for renewal. Just for a few rupees lesser in the premium amount one should not lose the benefits of Insurance.

    I hope I managed to make some sense. If any one has a different approach to car Insurance, pls share the same.
    1 person likes this.
  4. asimpleson

    asimpleson Esperto

    Messages:
    3,000
    Heptanesia
    Linea 1.3
    Based on your comments I will see henceforth more in detail about actual IDVs calculated by companies online. Heck, I would also walk into their main offices if and when should be possible to find the factual figures than the bloated ones presented by Agents. I cannot always find the real deal or trust the online quotes for accuracy given that sometimes there are other web-operators in between as agents.
  5. ghodlur

    ghodlur Esperto

    Messages:
    2,325
    Thane
    12 months/15k kms service schedule

    The 12 month or 15K kms service will be due on 16th June, hence planning to take the stallion for the scheduled service this Saturday. The odo will most probably read around 11.3K kms. Issues which will be highlighted are:

    1) Engine guard plate painting - Guard is seen to be rusted at places and will be the most vunerable part during the forthcoming monsoons
    2) Rear suspension rubber pads which had developed cracks
    3) Rattling from the left rear corner.
    4) Fixing of the Fog lamps which was pending.
    5) Touch up of Anti rust underbody coating - Will have to check if the Fiat workshop is equipped to do the same.
    6) Check if the Blue & Me can be upgraded to the next version.

    Any other critical checks I should be getting done apart from the scheduled checks. I will be getting the Wheel alignment & balancing and tyre rotation done from outside.
  6. nkrishnap

    nkrishnap Staff Member Janitor

    Messages:
    1,900
    Bangalore
    Bangalore
    Linea 1.3
    Even if gets rusted and the metal is eroded, the cost is around 1300 bucks. Not sure how much they will charge you for the painting. If you see a higher painting cost, ignore the painting and get it replaced when it is actually required

    Is it the same dealer you bought the car from? If no, then the touch up is more or less ruled out.

    Firstly, dont be surprised if the service center guys are not even aware of the update that is available. This will more or less be a DIY.

    The 15K service is basically replacement of engine oil, oil filter, air filter, ac filter, fuel filter and to attend any other issues. Beware of the brake pad drama that they do, personally check and replace it only if its necessary.
    1 person likes this.
  7. ghodlur

    ghodlur Esperto

    Messages:
    2,325
    Thane
    Thanks Krishna for the tips.

    1) I will try to wiggle out the painting part from the workshops guys coz last time I showed the same to CRM who agreed to get the painting done during the scheduled visit.
    2) I will be going to the same workshop/dealer from where I bought the car. AFAIK they had recommended 3M for anti rust during my buying process. So wouldnt expect much from them for the factory provided anti rust underbody painting.
    3) Have written to the CRM guy and informed well in advance. Inspite of that if they try to act smart, it will be DIY then.
    4) Yes, barke pads is one area which I will be extra careful. How do I ensure that I dont get over confident with the existing brake pads? I mean apart from visual inspection.
  8. GirishRaghu

    GirishRaghu Amatore

    Messages:
    208
    MH-15 / MH-04
    Thane
    Grande Punto 1.3 90 HP
    When I had enquired about the stone guard last month, I was quoted around 2K. Strange, but they didn't even suggest me that painting is also an option.

    For the underbody treatment, I guess better to get it done from 3M outlet. Their attention to detail is simply superb and more importantly they do it in front of you so everything is very much transperant.

    One more thing - make sure you open the bonnet and double check to confirm that all fluids have been topped up. In my previous service, they forgot to add the coolant but was charged for it. When I showed it to them, they topped it up without asking any questions.

    Cheers
    1 person likes this.
  9. ghodlur

    ghodlur Esperto

    Messages:
    2,325
    Thane
    The 1st Free service of the stallion done last saturday (why do they call it free whn the spares are still to be paid for) but had its share of the drama. Upon reaching the workshop and getting the SA assigned to take care of the Punto, the SA came up with a surprise saying the car isnt dues for any service. I was like "Whatttt". The SA showed me that the warranty (normal) dates entered for my car in the Fiat records is from 5th Dec 2013 to 4th Dec 2016 although I had purchased the car in June 2013 (18th June being the deliver date). Holy Cow, Fiat is at it again, making mistakes. I showed the SA the tax invoice, manual where the warranty is mentioned and upon discussion with the workshop manager & CRM it was decided that the car would be serviced. The whole drama lasted for about an hour. The CRM agreed to get the warranty dates in the system rectified to reflect the correct ones.

    Coming to the service, the usual was checked & replaced:
    1) Engine oil 3.2lts - Rs 2127/-
    2) Oil Filter - Rs 411/-
    3) Fuel filter - Rs 2059/-
    4) Air filter - Rs 199/-
    5) Filtering element - Rs 402/- ( Can anyone confirm what this is??)

    Total cost Rs 5198/-. At first seemed steep but realized its for the complete year.

    Other jobs done:
    1) Rear fog lamp replaced.
    2) Rear left rattling sound resolved. It was actually the rear seat which was not perfectly placed in the position.
    3) Foul smell from AC - The air filter was replaced
    4) Brake pad checked and were good enough.

    Things which couldnt be done:
    1) Engine guard painting - Workshop doesnt do this individually, it can be combined with the anti rust under body coating. I opted for getting this done from outside.
    2) Left side front quarter panel plastic broken - The part isnt available with Fiat Thane unfortunatley.
    3) Blue & Me upgrade - They didnt know the procedure nor offered to let me know it later either.
    4) Rear suspension rubber pad crack - The part isnt available with Fiat Thane unfortunatley.
  10. ghodlur

    ghodlur Esperto

    Messages:
    2,325
    Thane
    Today the car completes one year with 11500 on the odo. Its a been a fulfilling one year experience with the car. The car has never let me down during the my sedate as well as spirited drive, never left me high and dry & stranded. One big salute to this forum and the members for making my association with the car as well as with the forum a fruitful one.

    It was total change personally from driving a sedan (my faithful Fiesta) to a hatchback but this time a diesel one and soon the Punto effect started slowly growing on you and you start getting kind of addicted to its driving to an extent that even for a small errand you feel you should take out the Stallion. And boy what a year it has been with the Punto, totally awesome & amazing. Had it not been my medical condition and some forced leaves which kept the Punto off the roads, I would have definitely crosed 15K mark.

    My pleasures and groans have already been chronicled in the ownership thread. So keeping it simple. Hope the coming years will be as exciting and adventurous as the first one. Fingers crossed so that Fiat too can improve strenthen their presence in India
    3 people like this.

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