Comprehensive Or Zero Dep Cap?


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Hey bro,

Do check Tata AIG also; may be you'll not find it in coverfox or policybazaar so you have visit their official website or call customer care for quote. They have nice offerings and I have recently got my car insurance renewed from them. Previously I had New India Assurance but this time their quote was high and I believe claiming isn't easy with Govt companies. I got gold plan which includes key cover, travel & hotel expense in case of break down or accident, lose of personal belongings, one time repair of glass, fiber, plastic & rubber parts without affecting ncb and etc. However, its not bumper to bumper or zero depreciation policy though. Total premium I paid is 7.2k for 3L lDV. NCB is 50% since I never made any claims.

Kindly note: IDV can be slightly increased or decreased but when making claims, company will decide market value of the car rather then IDV so choose wisely.

Thanks...
Best Regards
 
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Thread Starter #17
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Hey bro,

Do check Tata AIG also; may be you'll not find it in coverfox or policybazaar so you have visit their official website or call customer care for quote. They have nice offerings and I have recently got my car insurance renewed from them. Previously I had New India Assurance but this time their quote was high and I believe claiming isn't easy with Govt companies. I got gold plan which includes key cover, travel & hotel expense in case of break down or accident, lose of personal belongings, one time repair of glass, fiber, plastic & rubber parts without affecting ncb and etc. However, its not bumper to bumper or zero depreciation policy though. Total premium I paid is 7.2k for 3L lDV. NCB is 50% since I never made any claims.

Kindly note: IDV can be slightly increased or decreased but when making claims, company will decide market value of the car rather then IDV so choose wisely.

Thanks...
Best Regards
Hi brother,
Thanks for your valuable input. Their website is really slow, calling them
Please Try Again

Reason for Failure : Service Slowness


If you have any problems feel free to call us on our toll free number 1800 266 7780

About your last line, isn't that the case when the car is stolen or at full loss?
 
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Yes their website is slow, you can call them instead but be aware, they talk a lot. I have got my policy via customer care and the call duration was nearly an hour! They gave brief details of the policy, confirm that we have understood and don't have miss any T&C. Getting our details right is also important.

Yes thats when you are making full claim when the car is stolen, totaled or repair cost is more then idv.
 
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... company will decide market value of the car rather then IDV...
Nope. Insurance Company HAS TO PAY the IDV amount, as per this March 2014 Supreme Court verdict (link).

In the verdict, go to para 18, for, "The insured value of the vehicle was Rs.15,22,565/-"..." Go to patta 21 for "... respondent insurance company is directed to pay the sum insured i.e. Rs.15,22,565/- to the appellant..."
 
Thread Starter #20
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Just came back from digit's office. They are ready to give in writing about cashless and service for life. When I said what if your company shuts down as not many people have heard about it, they went mum. I guess it will be Oriental, National, Tata or SBI general tomorrow.
@vijay_968 Is ncb is 20% of idv 26l in my case?
 
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If they agree to retain IDV at 26 Lakhs, it is a Bonus for you. But, after THAT Supreme Court verdict, Ins.Cos will DEMAND correct IDV, i.e., a max of 85% of last year's IDV). You can reduce IDV, if you want though.

And yes, if you have NOT Claimed damages via Insurance last year, the NCB is 20% for this year.
 
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@vijay_968 @bhvm @CRACING

Final quotations, all dep cap-
1. Oriental - 60k (IDV minus 15% from last year, no consumables) no. of claims????
2. SBI General Insurance- 48990/-, 55890/-(+consumables), 61480/-(+consumables+engine protection) IDV- 23.40l unlimited claims
3. National Insurance- 45000/-(without consumables) IDV-22.15l, 2-4 claims
4. Digit- PFA. About the supreme court order as mentioned above, I was told that whatsoever is the IDV mentioned a company is bound to pay that in any case. I said that say I want to reduce the IDV by 15%, then by how much the premium will be reduced? They said 1000-2000. Should I pay more and get more IDV or should I reduce it a little?
What are the compulsory deductible charges of Rs. 2000? They explained, but I didn't get them.
Please check the addon package. They said engine protection, hydrostatic, key loss etc. everything is covered in it.
5. TATA AIG- Their website is still slow and the toll free number did not connect me to an agent.

Please advice.

About all these unlimited/limited claims per year, one question, the ncb is decreased if we take these claims right? If yes then what's the point of these?
Also is the ncb calculated by 20% of 26l= around 5l?
 

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@vijay_968 @bhvm @CRACING

Final quotations, all dep cap-
1. Oriental - 60k (IDV minus 15% from last year, no consumables) no. of claims????
2. SBI General Insurance- 48990/-, 55890/-(+consumables), 61480/-(+consumables+engine protection) IDV- 23.40l unlimited claims
3. National Insurance- 45000/-(without consumables) IDV-22.15l, 2-4 claims
4. Digit- PFA. About the supreme court order as mentioned above, I was told that whatsoever is the IDV mentioned a company is bound to pay that in any case. I said that say I want to reduce the IDV by 15%, then by how much the premium will be reduced? They said 1000-2000. Should I pay more and get more IDV or should I reduce it a little?
What are the compulsory deductible charges of Rs. 2000? They explained, but I didn't get them.
Please check the addon package. They said engine protection, hydrostatic, key loss etc. everything is covered in it.
5. TATA AIG- Their website is still slow and the toll free number did not connect me to an agent.

Please advice.

About all these unlimited/limited claims per year, one question, the ncb is decreased if we take these claims right? If yes then what's the point of these?
Also is the ncb calculated by 20% of 26l= around 5l?
Sorry for the late response.
  • 49K to 56 K to cover "consumables"... Cool 7K increase... [think]
  • 56K to 61.5K for "engine protection"... 5.5K increase in case engine is affected by water ingress.... Cranking the engine while the car’s submerged is considered as a deliberate act of damage to the engine and hence is NOT covered by the Basic Insurance. i had decided to tow my car, rather than starting it, if and when my Car gets submerged in water; towing is ANYWAY covered under Hyundai RSA and also by my current Insurance. So i did NOT Opt for so called "engine protection". Do note that, "if Engine / Gear Box gets damaged due any impact, the Insurance Co foots the bills".
  • About IDV, I always go for what is permissible under law.
  • I tried TATA AIG toll free number 1800 266 1363 and within 30 seconds i was talking to their Rep Mr. Rohan (at Hyderabad Call Center).
All your queries including IDV ... basically it is your call, now. I step aside. Good luck [cheers]
 

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