Vehicle Insurance: General Questions / Discussion


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Today, I have renewed my two wheeler (Maestro Edge) Insurance with ICICI Lombard. Paid for straight 2 years.

Total amount paid Rs.3663/- for 2 years for IDV Rs.25175/-

The premium amount includes Rs.206 towards NCB, Rs.280/- towards PA cover for 2 persons of Rs.100,000 each per year and Rs. 717/- towards PA cover for Owner Driver.
Also they have charged Rs.398/- towards RSA.

So, we are paying additional Rs.997/- towards this PA cover, which was not compulsory 2 years back, I think !
 
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Today, I have renewed my two wheeler (Maestro Edge) Insurance with ICICI Lombard. Paid for straight 2 years.

Total amount paid Rs.3663/- for 2 years for IDV Rs.25175/-

The premium amount includes Rs.206 towards NCB, Rs.280/- towards PA cover for 2 persons of Rs.100,000 each per year and Rs. 717/- towards PA cover for Owner Driver.
Also they have charged Rs.398/- towards RSA.

So, we are paying additional Rs.997/- towards this PA cover, which was not compulsory 2 years back, I think !
PA Cover is not mandatory now, but you have to request to opt out in writing. If you have more than a vehicle in your name, then only one of them needs the owner-driver PA cover or if you have any personal insurance with accident coverage. FZ, Duke and Fiesta are registered in brother's name. I opt for it only on FZ since it has the lowest premium.
 
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PA Cover is not mandatory now, but you have to request to opt out in writing. If you have more than a vehicle in your name, then only one of them needs the owner-driver PA cover or if you have any personal insurance with accident coverage. FZ, Duke and Fiesta are registered in brother's name. I opt for it only on FZ since it has the lowest premium.
hmm..just slipped that. I already have PA cover on my Tigor (Rs. 750+250) and I could have easily saved the money paid again for the two wheeler .[frustration]
 
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It's time for renewal of my Car Insurance. Received renewal notice from ICICI Lombard asunder:

IDV Rs.494,312
Total premium Rs.13,263 which inlcludes

Own Damage
  • Basic Premium`7887
  • Return to invoice(On Road Charge-0)`1087
  • Road Side Assistance`199
  • Engine Protect Plus`741
  • Sub Total (A)`9914

  • Anti-theft Discount`197
  • Automobile Membership Discount`200
  • Deduct 25% for NCB`1873
  • Total Discount (B)`2270
  • Total Own Damage Premium (C = A - B)`7644
  • Basic including premium for TPPD`3221
  • Compulsory PA Cover for Owner Driver`325
  • Legal Liability to Paid Driver`50
  • Total Liability Premium (D)`3596
Road side Aisstance features
  • Breakdown support over phone
  • Minor on spot Repairs
  • Flat Tyre support
  • Battery jump start
  • Arrangement of keys
  • Towing on breakdown/accident
  • Arrangement of rental vehicle
  • Arrangement / Supply of fuel
  • Arrangement of Accommodation
  • Message Relay
I think PA cover for owner can be avoided since I have PA cover taken on my Scooter.

Presume above premoum amount is reasonable?
 
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@Nairrk Please clarify these points in your quote.
  • Anti-theft Discount`197
  • Automobile Membership Discount`200
AFAIK, Tiago/Tigor does not come with anti-theft device. Also make sure its zero-depreciation policy and not just comprehensive. Otherwise your quote seems fairly priced.
 
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