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SBI car insurance -need inputs

Discussion in 'Insurance & Loan Reviews' started by FIATboy, Jan 31, 2016.

  1. FIATboy

    FIATboy Timido

    Messages:
    10
    chennai
    Punto Evo 1.3
    Hi frenz
    For my punto evo bought in 2015, insurance renewal is coming up and for the same SBI car insurance offers Rs.16567(made a claim last year, otherwise 13k only) for an IDV of 7 lakhs, but last year i had with Future Generali of 4k for an idv of 6.68 lakhs.
    This year Future Generali quoted 16k foran 6 lakh idv which is very less compared to SBI of an idv 7 lakhs. Of course i had my car loan with SBI.
    PLS suggest how good is with sbi and what other points i have to check.

    Note: all other benefits stay same with sbi offer
  2. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    Sorry if this post reaches you late.
    Before you jump to SBI deal, first verify with FASS whether they have a cashless tie up with SBI. If they do, confirm whether the premium they have quotes is for correct IDV. The ideal IDV should be 10% less than last years IDV. If all the above are correct and SBI's quote is the least, then suggest to go ahead and renew the Insurance from them.

    How was your experience with FG with regards to claim handling? Did you face any hiccup? Did you know that FG has an all India tie up with Fiat which means that they have cashless tie up with all FASS in the country. Not promoting FG, just mentioning the facts.
    Turbothinghy likes this.
  3. FIATboy

    FIATboy Timido

    Messages:
    10
    chennai
    Punto Evo 1.3
    Hi @ghodlur,
    Thanks for the reply. I got your point. waiting for the reply from FASS reg. cashless tie-up with SBI. Otherhand, since my renewal is coming up by 15-FEB-2016. i had received a quote for Rs# 17975/- from FG, and after requested for a discount i had received for Rs# 16584/- during January 2016(no mail confirmation, but it's still in the record with the customer care, i confirmed). before i buy that, my car met with another accident during Feb 2016, and i'm forced to go for a claim(2nd claim in the year). when i asked FG for the discounted price i.e. Rs# 16584 , they refuse stating that i made another claim. I asked , what could they have done after buying that revised discount. the customer executive is speechless. when asked whether i could speak to their supervisor, no response.

    How to tackle this ... I see this isnt good. I have a better quote with "New India Insurance" with which my dealer has tie-up. the only advantage with FG is that they have manufacturing tie-up all over India

    pls. suggest
    Last edited: Feb 9, 2016
  4. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    I am sure FG is not going to extend the discount they offered you before the 2nd claim. I would have recommended New india Insurance, however the guys there still have a their age old sarkaari attitude and I have heard some bad reviews esp during claims handling. It is better you stick to Industry leaders. Have you tried with Royal Sundaram since you are based in Chennai? They have a good customer support and are good during claim handling too. Personal experience. Try getting a quote online from their website.
  5. FIATboy

    FIATboy Timido

    Messages:
    10
    chennai
    Punto Evo 1.3
    Hi ,
    As you said FG isn't interested in extending the discount, however, i 'd received a better quote from united india insurance for Rs. 15,856 and my dealer also has tie-up. Do you see any problem with this except FG has tie-up all over India ??
    thanks
  6. ghodlur

    ghodlur Esperto

    Messages:
    2,326
    Thane
    No problem at all as long as the Insurance co has a cashless tie up with FASS. Its just that I personally stay away from Public sector Insurance cos.
  7. kvs1983

    kvs1983 Timido

    Messages:
    3
    Alandur, Chennai
    Dont go with New India.. They are frustrating one and they will never work. My car got dumped in rain and its been 2 months i fought and walk to their office for more than a month to get it settled, that too 60% of IDV and not the full amount because for full amount I need to close the loan RTO registration which no other insurance companies do.

    I heard Future Generali is bit costly but they settled the claim with no hassles. I would prefer to go with FG. I'll be getting FG once I make my car ready.

    Cheers

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