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Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata-AIG

Discussion in 'Insurance & Loan Reviews' started by Prabu, Aug 2, 2010.

  1. Prabu

    Prabu Novizio

    Messages:
    26
    Bangalore
    I will have to renew my Punto 1.3 Emotion by next week.

    Currently I’ve insurance is with Royal Sundaram I made 1 claim (minor about 4k) so now I’m not eligible for NCB.
    I bought my vehicle from Prerana motors, now I’m planning to shift to KHT Motors, Whitefield due to the reason it’s closer to my office.

    The offers I received from various insurance companies are.

    Royal Sundaram
    IDV- 5,71,000
    Premium-16k

    ICICI Lombard
    IDV-5,14,000
    Premium-13k
    Advantage: where I’m going to service my car has cash-less claim facility.

    TATA AIG
    IDV-5,15,000
    Premium-15k
    Advantage: as discussed in other topics, it offers 100% claim on plastic and fiber items it is good. Also minor claims will not affect the NCB (but I’m not sure how it works really what determines minor claims)

    Bajaj Allianz
    IDV-5,15,000
    Premium-12.5k
    Remarks: It offers another plan called “assured..” with premium of 16k includes 100% plastic items

    I’m looking for a feedback from this forum, to make a right decision thanks in advance.

    Regards,
    Prabu
  2. Ravi

    Ravi Staff Member Janitor

    Messages:
    6,001
    Bangalore
    Grande Punto 1.3
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    Though Bajaj looks cheap, but they will jack-up the premium very high next year, if you claim the insurance. So stay away from them.
    ICICI doesn't have good reputation.

    So my suggestion would be to go with TATA or stick with Sundaram.
  3. Chaos

    Chaos Regolare

    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    Even I feel TATA would be a safer bet...
    No point to save on the premium now, and later on FIGHT for a claim!!

    TATA's premium is in the middle... and so far TATA has got a good feedback!!
    If you are talking to a insurance agent (NOT TATA directly) you can bargain to have the premium reduced a bit... maybe you pay little less for the same offer..
  4. sdp1975

    sdp1975 Amatore

    Messages:
    206
    Bangalore
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    How much are insurance cos charging as premium for the OD section, as a % of the IDV ?

    I got a quote from BA for my 2nd yr insurance( MJD E+) :

    IDV=5.25, OD=11203. This works out to be 2.1 %

    Whereas last yr:
    IDV = 5.83 , OD=9580/-. This works out to be 1.6%, and was from Future Generali.( was offered free by Fiat in October).
  5. deepakmittal

    deepakmittal

    Messages:
    22
    Noida
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    Hi All,

    I am also in sam confusion as mentioned by Prabhu. Currently i am having insurance from future generalli and I also do have one claim last year so NCB is 0.

    Premium quotation which i am getting currently are:
    ICICI ~ 14k
    TATA AIG ~ 16.5K
    Future ~ 16k

    I am not looking for any other company.
    Difference in ICICI and TATA is around 2.5k, Both have cashless claim facility.But in TATA we also get that 0 depreciation benefit.

    Pls advice me ..need to get it by this week end..

    --Deepak
  6. nitinkumardba

    nitinkumardba Superiore

    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    Hi Deepak,
    I am also in same situation and feel Tata AIG is best option. I am in touch with one agent. We togeather can ask for some discount. What do you think? Call me @ 9873775678 if you are ok with my suggestion.
  7. shakesin

    shakesin Amatore

    Messages:
    140
    Bangalore
    Bangalore
    Grande Punto 1.4
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    Its that time of year when everyone is renewing their insurance, i got a call from reliance, they have offered me insurance that covers plastics 100%(cashless), but the premium will be 2k more than the normal. haven't got a quote yet, but wanted to know "has anyone claimed ever from reliance"? did see a bad experience that amit had with reliance.
    i also tried the online quote from royal sundaram, and the premium came out to be about 8.5k, however when i called them and asked for a quote they said its 11.5k, can't figure out the difference there!!!
    abhishek
  8. Ravi

    Ravi Staff Member Janitor

    Messages:
    6,001
    Bangalore
    Grande Punto 1.3
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    shakesin, reliance is not recommended due their service.
    I would suggest stick to Tata-AIG or Bajaj. Also check if they have cashless arrangements with your service center.
  9. shakesin

    shakesin Amatore

    Messages:
    140
    Bangalore
    Bangalore
    Grande Punto 1.4
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    thx, will have to check all that, i guess sundaram is giving cashless with prerana motors.
  10. Viny

    Viny Esperto

    Messages:
    1,742
    :)
    Re: Review: Royal Sundaram vs Bajaj vs ICICI lombard vs Tata

    I got a good quote from Iffko-Tokio General Insurance for renewal without NCB and they had cashless system available with local TATA dealer.

    IDV: 6,95,000
    NCB: 0
    Amount: 16000

    Where as others where giving me IDV less than 6,50,000 and quotes where above 18K

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