Which Insurance? Chola MS or TATA AIG?


Which one do you prefer?


  • Total voters
    2
  • Poll closed .
Thread Starter #1
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My Car Insurance is about to expire in June and so I am looking at other options to renew it. My current one is from United India Insurance which is not zero depreciation, bumper to bumper and crappy one, because it was given by the car dealer guys(God, I hate those guys).

Now I enquired at couple of places and TATA AIG and Chola MS, has some benefits compared to other guys. Benefits being
1. Cashless claim
2. B2B
3. Zero Depreciation with sub classes which cover for the depreciation losses too
4. Roadside Assistance
5. Multiple Claims in a year
6. Whooping NCB Bonus(es)

Now, the confusing part is, both Insurance cost me almost same. INR 12XXX.00 with IDV of 505850.0!

So can you guys who already purchased any of these( and claimed for any minor issues), please enlighten me on which one to go for?
 
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Even i am also searching for insurance renewal. My previous one is zero depreciation from Bajaj Allianz. I guess multiple claims for zero depreciation is also offered by HDFC ERGO.
 
Thread Starter #3
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I heard a lot of good things about TATA AIG, but the dealer insist me to go with Chola MS. He is working at the garage where I give my cars usually. After reading couple of PDFs, it looks like Chola took AIGs policy document and replaced just their names.

Will check for HDFC ERGO too! One more to confuse!
 
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Almost every Insurance company provide a customized policy. Visit PolicyBazaar.com to know more on it.

Talk to the Customer Service Representative to get best quote.

The feature you add on your policy will increase the price of it. If your car age is between 1-5 years then you may think on zero dep policy. Else neglect that options on it.
 
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Since you mentioned that your car is 1 year old, so ZERO DEP POLICY must be taken.
ZERO DEP POLICY may not be applicable for you.
 
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I was searching for insurance renewal from last few days. My old policy was having zero depreciation hence the only condition for me was that the renewed policy should also be having zero depreciation. Apart from this i was also liable for NCB [:D]

So now there were two things with me, one is having websites of insurance companies and other is office internet[;)]. I started visiting most popular insurance companies website and generated the quote. The premium stated in below summary is after considering zero depreciation.

HDFC ERGO
Cashless settlements : 1600+ garages
IDV calculated : 347043
Premium : 11847
No.of 0% Depreciation Claims : No clear Information on their site but somehow policy bazaar says its "unlimited claims" [surprise]

Royal Sundaram
Cashless settlements : 2700+ garages
IDV calculated : 406560
Premium : 12338
No.of 0% Depreciation Claims : No information on their site

Universal Sompo
Cashless settlements : No information on their site
IDV calculated : 360894
Premium : 10281
No.of 0% Depreciation Claims : No clear Information on their site but somehow policy bazaar says its 2 claims

L&T General Insurance
Cashless settlements : No information on their site
No.of 0% Depreciation Claims : No clear Information on their site but somehow policy bazaar says its 2 claims
Remarks : No online facility to check premium by adding zero dep hence left without calculating IDV and premium

Reliance General Insurance
Cashless settlements : 3200+ garages
IDV calculated : 397509
Premium : 13030
No.of 0% Depreciation Claims : 2

ICICI Lombard
Cashless settlements : 3100+ garages
IDV calculated : 389252
Premium : 11809
No.of 0% Depreciation Claims : 2

Chola MS
Cashless settlements : 600 garages
IDV calculated : 373451
Premium : 8692
No.of 0% Depreciation Claims : No information on their site

Iffco-Tokio
Cashless settlements : 1200+ garages
Remark : Not generated IDV and Premium as there was limitation on site that either you need to select minimum 2 coverage or none of them, starnge !! Further even after selecting some other coverage along with zero depriciation, still there site shown some error and finally didnt shown any premium or IDV.

TATA AIG
Cashless settlements : No clear information
No.of 0% Depreciation Claims : 2
Remark : I searched a lot but could not find online facility to check premium by adding zero depreciation coverage


Bharati AXA
Cashless settlements : 2000+ garages
IDV calculated : 391875
Premium : 11384
No.of 0% Depreciation Claims : 2


Bajaj Allianz
Cashless settlements : 1500+ garages
No.of 0% Depreciation Claims : 2

via Dealer
IDV calculated : 395439
Premium : 12276

Direct
IDV calculated : 385293
Premium : 14127

After looking at entire summary and ratings of companies, i am titled towards dealers quote. [glasses]
 
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Thread Starter #9
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That was some detailed information dude! Thanks for the help. I hope TATA AIG should have more garages with cashless settlement. So, are you going to go with Bajaj Allianz? I am inclining towards TATA AIG/ICICI Lombard/Chola MS.

Dealer quoting 12k(after discounts) for an IDV of 4.9L for Chola, 14,xxx INR for ICICI and TATA AIG with same IDV. I guess I need to go talk to him directly and clear things.

Why the websites doesn't contain crucial informations'? Are they hiding these on purpose?
 
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That was some detailed information dude! Thanks for the help. I hope TATA AIG should have more garages with cashless settlement. So, are you going to go with Bajaj Allianz? I am inclining towards TATA AIG/ICICI Lombard/Chola MS.

Dealer quoting 12k(after discounts) for an IDV of 4.9L for Chola, 14,xxx INR for ICICI and TATA AIG with same IDV. I guess I need to go talk to him directly and clear things.

Why the websites doesn't contain crucial informations'? Are they hiding these on purpose?
Searching right quote from the ocean of insurance companies is literally a tedious job. My old insurance is expiring tomorrow and hence i have made up to go with Bajaj Allianz. [;)]
 
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Tata AIG online quote service dose not have any option for zero depreciation, hence i didn't received quote from them. Instead they are offering some "Gold Protection" scheme in insurance which also sadly dose not have anything regarding zero depreciation. Secondly, i also not found anything regarding their cashless settlements. Hence moving to Bajaj Allianz.
 
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Thread Starter #13
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^^ I just asked the same to my TATA AIG dealer and he quoted me 12284 INR for IDV of 4.9L with zero depriciation, B2B insurance. And they does have tie up with lot of garages for cashless settlements too, and it includes the place where I service my vehicle. So I am planning to go with AIG, as I heard a lot of good things about them.
 
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I have booked a Zest XMS here in Bangalore. Prerana motors quoted insurance of around 25k for zero depreciation (it was from TATA AIG). When I told I will take it from outside, the sales rep informed me that they have cashless features only with TATA AIG and National Insurance. So here is my question
How to find the Zero Depreciation policy in National Insurance Website?
In the link given below NIC - Step1:Motor additional cover Calculator
when I fill up all the details, at last there is an option for More Covers, Discounts and Options. There is something called Package Policy. Is that same as zero depreciation? Why I am asking is I had a chat with National Insurance executive and he said this is same as Zero Dep insurance but the premium comes around only ~14k. So there is a difference of more than 10k with the original quote by Tata Dealer.

Please help
 
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I have booked a Zest XMS here in Bangalore. Prerana motors quoted insurance of around 25k for zero depreciation (it was from TATA AIG). When I told I will take it from outside, the sales rep informed me that they have cashless features only with TATA AIG and National Insurance. So here is my question
How to find the Zero Depreciation policy in National Insurance Website?
In the link given below NIC - Step1:Motor additional cover Calculator
when I fill up all the details, at last there is an option for More Covers, Discounts and Options. There is something called Package Policy. Is that same as zero depreciation? Why I am asking is I had a chat with National Insurance executive and he said this is same as Zero Dep insurance but the premium comes around only ~14k. So there is a difference of more than 10k with the original quote by Tata Dealer.

Please help
First of all let me congratulate you for your Zest.

Now regarding insurance. When you click on "More Covers, Discounts and Options" button then it will take you to new page. On this new page you will find "Nil Depreciation" checkbox in "Additional Covers (At Additional Premium)" section. Just select it to calculate your premium using zero depreciation.

Surely dealer is making you to buy insurance from only those companies from which he will get margin. Do check other insurance companies site, talk to their representative regarding garages having cashless settlement. Now a days you can check the list of garages online on these websites, just check whether your dealer is located in any other insurance website under cashless list. Happy researching [:)]
 

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