Car Insurance Renewal Queries


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How are Bharti AXA and Tata AIG in terms of claims settlements?

Anyone have any first hand experience with them?
Keith, don't worry about that. For 2 reasons.

1. All insurance companies are same - during sales they promise everything, but during an incident, they make you run around and try to reject and delay as much as possible. (No insurance company can afford to have great claims settlement service - it needs more people and more money. In today's competition, it is not possible. All companies are at the same ok/average level).

2. Claims settlement is not a daily or routine thing like filling petrol. It may happen only once a year. It may not even happen (you and I want this). No point worrying about once-in-a-bluemoon thing.

Just renew with your existing provider and forget about it. Enjoy.
 
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Buddy i have a comprehensive cover on my vehicle with New India Insurance.

=>What i need to change from comprehensive cover to bumper to bumper cover(i goofed up during buying,my fault) at end of insurance.

=>i would be changing From new India to Oriental insurance.

=>Will NCB would be transferred?
=>Will i get any issue to change bumper to bumper?
 
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Keith, don't worry about that. For 2 reasons.

1. All insurance companies are same - during sales they promise everything, but during an incident, they make you run around and try to reject and delay as much as possible. (No insurance company can afford to have great claims settlement service - it needs more people and more money. In today's competition, it is not possible. All companies are at the same ok/average level).

2. Claims settlement is not a daily or routine thing like filling petrol. It may happen only once a year. It may not even happen (you and I want this). No point worrying about once-in-a-bluemoon thing.

Just renew with your existing provider and forget about it. Enjoy.
Johnyboy Bharti AXA offers N number of cashless claims.Tata AIG offers 2.I am not sure which one to go for [confused]

Buddy i have a comprehensive cover on my vehicle with New India Insurance.

=>What i need to change from comprehensive cover to bumper to bumper cover(i goofed up during buying,my fault) at end of insurance.

=>i would be changing From new India to Oriental insurance.

=>Will NCB would be transferred?
=>Will i get any issue to change bumper to bumper?
Yes you can convert it when renewal.Just make sure to get the NCB certificate from your current insurance company.You will get a 20% discount on premium.You will have to check the NCB terms and conditions of your current and next Insurance companies.
 
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Johnyboy Bharti AXA offers N number of cashless claims.Tata AIG offers 2.I am not sure which one to go for [confused]
...
Keith, are you planning to have more than 2 incidents (and claims) in the next one year?

Anyway,
You are currently with ICICI Lombard rt? First you decide whether to shift the provider.

It is easy to continue with the current one
a. Less paper work and less head ache.
b. Not only paper work, there may be more processes also - for eg: the new company may want to inspect your car (for any existing damages) and take photographs for their record. It is not there in renewal with same company.
c. Continuity of records with single party if you go with same company.

If others are giving better deals, no harm in shifting also.
a. Compare the premium amount first.
b. Then IDV.
c. No of cashless claims should be considered only after this.
 
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ICICI's qoute is on the higher side so won't be considering it.

I cannot predict how many incidents might happen.But having N cover sounds more reassuring.

The IDV is the same with all of them.

I have considered all the facts and come to Bharti Vs TATA.

They said that the inspect won't be necessary as the current policy is still active.But even in case of inspection I do not mind.The car is mostly immobile [lol]

What other paperwork would there be left?They said all they need is the existing policy and RC copy.Cover note will be issued once the payment is made and then the inspection will take place if need be.
 
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@Johnboy - that one time payment is the pain actually. When I transfered my NCB It was very hassle free from my previous insurance company to Liberty Videocon General Insurance Company
Rahul, it's good to know that NCB transfer is hassle free.

I didn't quite get what you meant by one time payment. If you are referring to claims payment, all insurance companies are same. It is the same level of service. It all depends on the advisor/officer who gets assigned to your case.
 
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Re: Renewed with ICICI

Following are the cost of premium provided by various insurer's.

1. Existing Insurer - Bajaj - Premium quoted : Rs. 17,300/-
2. ICICI - Rs. 14,280/-
3. National Insurance - Rs. 14,000/- (no cashless claim available)
4. Tata AIG - Rs. 17,200/-

All the above, includes a 25% NCB. However ICICI was the only one that provided a cashless facility at that premium. Hence opted for this [;)]. The start day is from 29th of January. (The policy end date is 28th and I incorrectly mentioned 22nd).
ICICI is good, boss! I am having ICICI Lombard car insurance. I claimed loooong ago, but the esperiene was real smooth. I have never claimed after that and currently hold 50% NCB. [:D]
 
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Akash1886

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Team,

My Honda City's Insurance is due for renewal in October 2014. Today I got a call from another Honda Dealer in Delhi stating that my premium is 14000+ since I have Zero Depreciation policy. I told them I don't have Zero Depreciation policy and its a normal one only (How ill-informed are these dealers!). Then the executive informed that there is a Dealership discount also after which my due premium becomes 8433/-. Listening to this I called Ace Honda and asked them why have they not mentioned this discount on the letter sent to me for the due premium?

They said we can't mention it. I asked them that this discount is applicable all over India in all Honda Dealerships so why was it not intimated to me last year? They had no reply for this.

Listening to my above arguments they immediately checked and reduced my premium by Rs. 640/- and told me to pay Rs. 8400 only including passenger insurance.

My questions on the above are:

1) Why do dealers hide this discount from owners?

2) This discount given to me is for my next due renewal. What about the previous year's discount? Should I claim that too this year?

3) Why is it that owner has to tell them all these things, why are these dealers not honestly working in selling insurances to customers?

Please suggest me on the above.

Regards

Akash
 
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1) Why do dealers hide this discount from owners?

2) This discount given to me is for my next due renewal. What about the previous year's discount? Should I claim that too this year?

3) Why is it that owner has to tell them all these things, why are these dealers not honestly working in selling insurances to customers?
Akash
Its pure business, discount not passed to you is their profit.

Previous years discounts cannot be accumulated.

Insurance is not primary business of dealers. They try to get more margin hence. If you buy online or another outside agent you will get better deals always even from same insurance company as the dealer offers. Try it out next time.
 
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insurance renewal

I have an issue with the insurance renewal. I wanted to know if i can pay online (by card or net banking). I asked my car dealer from where i had taken the insurance and they say it is not possible as the insurance is created on cash. Also my insurance is due on the 14h oct but they are giving me a pre dated insurance.. i.e. sept. 30.Why i don't know.
So what options do i have. please suggest.
 
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Hi Arian,
Welcome to TAI. Insurance should start a day after expiry date and of course you can pay be card or cash.
The dealer is fooling you. Try directly with insurance company by calling helpline or online portals.
 
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My car, Brio, is due for insurance renewal in December end this year. However, I started getting calls from various insurance companies (including from my dealer) 15-20 days ago i.e. around 2 and half months before due date. Is this normal?

Secondly, my dealer has offered Rs. 9200 (normal policy) and around 12000 for zero dep. Car is manufactured in November 2013 and no claim has been made till date. Is the premium OK?
 

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