Dealer Provided Insurance Vs Self Processed Insurance?

[MJamshad]

is there a time frame for getting the car insured from date of purchase since it also requires the RC of the car and as per dealer, the RC takes a month to come.

As per rule, you can't take any vehicle to road if it doesn't have a insurance. its illegal. Dealers alwyas gets the vehicle insured before delivery. Insurance didnt require RC. It only needs the Sales certificate from manufacturer stating the specifications of car AFAIK. You can take the insurance from outside , but do it prior to the delivery of the car.

This helped me saved me a lot. I got insurance almost at Half price

yes. you could always save around half as dealers always quotes a higher insurance rates unless you ask them to lower the quote with other quotes you got from outside. A dealer can never force you to take insurance from himself. I guess there is a ruling from court about that. Its customer choice from where he wanted to buy the insurance.

 

[stormed]

95% of invoice price is the default IDV. You can bump it up to 100% with an add-on package.


As answered earlier, you will have to submit insurance policy when car is taken for RTO registration. You can buy insurance policy with just engine and chasis number. I got mine from RoyalSundaram (completely online purchase) as they have cashless tie up with TASC across India.

I am also taking Royal sundaram from outside for tigor. Would like to know if zero DEP. Is worth the price difference of around 5k?

 

[Prabhagar]

I am also taking Royal sundaram from outside for tigor. Would like to know if zero DEP. Is worth the price difference of around 5k?

Zero depreciation clause is definitely worth it. The cost of plastic parts are on the higher side these days. For reference, the ORVM on Tiago XZ costs ~Rs3500+.

 

[allhyundaicars]

Zero depreciation clause is definitely worth it. The cost of plastic parts are on the higher side these days. For reference, the ORVM on Tiago XZ costs ~Rs3500+.

Are you serious my fluidic verna's orvm cost 2800rs.

 

[Sidd7hartha]

You can take the insurance from outside , but do it prior to the delivery of the car.


yes. you could always save around half as dealers always quotes a higher insurance rates unless you ask them to lower the quote with other quotes you got from outside. A dealer can never force you to take insurance from himself. I guess there is a ruling from court about that. Its customer choice from where he wanted to buy the insurance.

Alas if I knew it before the purchase of my own car! Though my car is four years old now. By the by I am still using Maruti insurance. A number of insurance company comes under their fold. Initially mine was of Royal Sundaram and now Iffco Tokyo. In all cases it was renewed by dealer. But Maruti Insurance allows online renewal. I planned to renew online this year. What my friends advise?

 

[Prabhagar]

Are you serious my fluidic verna's orvm cost 2800rs.

Yes, verified with couple of owners. The one without turn indicator and motor is cheaper at Rs 1296/- as per TMSC app.

 

[harishankar]

Check for a few things before comparing quotes:
1. The IDV offered. Some insurers cut down the IDV by as much as 20% to give you a better premium.
2. The add-on covers - like whether zero-depreciation cover is provided. Some also provide windshield add-on cover, which means you don't lose your NCB if you merely go for windshield replacement.
3. Cashless facility tie up with your dealer.
Cashless can be a big benefit and convenience. Getting reimbursement claim involves more process and more time consuming.
Dealer policies will always be costlier, because of agent commission which is padded to your premium. But on the other hand, having dealer tie-up insurance means less hassle for claims settlement (except in rare cases). The entire insurance process will be done by the dealer - all you need to do is to sign the claim form and provide a few documents to the dealer.

Reimbursement claims involve:
1. Getting a repair estimate/ quote from the dealer.
2. Submitting the estimate along with other documents to the insurance co. like filled in claim form, RC copy and driving licence copy of the driver at the time of accident. Also verification of originals with the insurance company appointed surveyor.
3. Getting survey done.
4. Repairer approval from surveyor based on his assessment.
5. Finally repairing the vehicle as per the surveyor's approval and then submitting the original bills/receipts to the insurance company, along with your bank NEFT details.

In cashless claims, the dealer gets the documents from you and directly coordinates with the insurance company for the other steps. You only pay the policy excess and a few non-payable consumables/depreciation if applicable.

Also note that in a competitive market, insurers will always try to reduce the premium. But you should check their reviews regarding how well and efficiently they settle claims, which is the main product for which you are paying.

Government sector insurers will definitely settle claims more liberally, but the process will be more cumbersome. Also, unlike private sector cos, you may have to visit their claims office/hub to submit the documents/original verification etc.

 

[Akash1886]

Friends,

Has anyone taken Nexon's insurance from outside? My dealer's quote is around 43K. Though I will get it matched to max limit but if anyone can help me with a quote that you may have got from other insurance providers so that I can negotiate with my dealer. I am asking for Cashless Insurance scheme.

Regards

Akash