Renewed insurance with ACKO for Polo yesterday and they gave an extra month's coverage.
Vehicle Insurance: General Questions & Discussions
- Thread Starter RSM
- Start date
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 !
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.
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]](https://www.theautomotiveindia.com/forums/images/smilies/Frustration.gif "Frustration [frustration]")
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
Presume above premoum amount is reasonable?
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
- 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
Presume above premoum amount is reasonable?
@Nairrk Please clarify these points in your quote.
- Anti-theft Discount`197
- Automobile Membership Discount`200
No, the premium amount not included Zero Depreciation charges. If I go for Zero dep then another Rs.2966 plus tax will be extra making total premium Rs.16,380/-?
Insurance premium renewal time for my car (Tata Tigor).
Received renewal notice from ICICI Lombard which showed IDV 432523 and Ins premium Rs.13058
When I started my process to pay the amount online, I received final payment amount as Rs.7402 which is almost half of the premium amount as shown in the notice as well as on the login page. I thought there was some mistake and as such logged out and logged in again but same calculation came up.
Finally, made payment of Rs.7402 online and got the renewed Policy from them. Still not aware how the huge difference in premium amount came up from renewal notice and final payment![[think]](https://www.theautomotiveindia.com/forums/images/smilies/Thinking.gif "Thinking [think]")
Received renewal notice from ICICI Lombard which showed IDV 432523 and Ins premium Rs.13058
When I started my process to pay the amount online, I received final payment amount as Rs.7402 which is almost half of the premium amount as shown in the notice as well as on the login page. I thought there was some mistake and as such logged out and logged in again but same calculation came up.
Finally, made payment of Rs.7402 online and got the renewed Policy from them. Still not aware how the huge difference in premium amount came up from renewal notice and final payment
Hello All- Its time to renew the Insurance policy for our 2020 Honda City VX and having never dealt with Insurance in India, i have a few questions. Below is the quote i received from ICICI Lombard. I have attached the policy details from last year and the second pic is of what they are quoting for this year.
For information, there was no incident/repairs/accident on the car ever!
Below are my questions:
This years Quote: The increased add ons is what i have question on!
For information, there was no incident/repairs/accident on the car ever!
Below are my questions:
- Why is the overall quote is only slightly lesser than last year even though we had no claims on the car.
- Can someone also help me with the math on NCB? Is it % of Basic premium? If so the numbers don't seem to add up
- What does "Add ons" mean? Why would that increase compared to last year? Thoughts?
This years Quote: The increased add ons is what i have question on!
Last edited:
Add ons basically means what extra things you have taken along with comprehensive insurance.
Zero depreciation , consumables cover etc are add ons.
Please check this link here for detailed explanation "Car Insurance Add-on Covers"
Car Insurance | Buy & Renew Car Insurance Online | Upto 80%* Off
Who's your agent ? Suggest you to ask for insurance premium from another agent or maybe try online to get another quote.
Also you should ask your agent to give you information regarding the add ons you have.
Ps : I generally go for zero depreciation + consumables cover + engine and gearbox cover.
I will give you an example.
Say someone's car gets into an accident. There is major damage to the front, coolant is leaking and even engine oil is leaking because of hit from the underside. Now that's a major expense if you don't have zero depreciation add on cover.
If you have zero depreciation then you just need to pay the file charges which is just under 2000rs for any car but you have to pay for coolant , engine oil etc.
If you have consumables cover, you won't be charged for refilling of coolant and engine oil.
Say the car keeps on running for some reason and the engine gets damaged because of no engine oil then with the engine cover you don't have to pay any charges for engine replacement.
Zero depreciation , consumables cover etc are add ons.
Please check this link here for detailed explanation "Car Insurance Add-on Covers"
Car Insurance | Buy & Renew Car Insurance Online | Upto 80%* Off
Who's your agent ? Suggest you to ask for insurance premium from another agent or maybe try online to get another quote.
Also you should ask your agent to give you information regarding the add ons you have.
Ps : I generally go for zero depreciation + consumables cover + engine and gearbox cover.
I will give you an example.
Say someone's car gets into an accident. There is major damage to the front, coolant is leaking and even engine oil is leaking because of hit from the underside. Now that's a major expense if you don't have zero depreciation add on cover.
If you have zero depreciation then you just need to pay the file charges which is just under 2000rs for any car but you have to pay for coolant , engine oil etc.
If you have consumables cover, you won't be charged for refilling of coolant and engine oil.
Say the car keeps on running for some reason and the engine gets damaged because of no engine oil then with the engine cover you don't have to pay any charges for engine replacement.
Hi guys!
My Two wheeler (TVS Jupiter 125) Insurance expires on 1st February 2023 as per the Insurance policy copy (from SBI General) however Policy certificate in Digilocker shows as Insurance valid until 1st Feb 2027.
When I checked the physical Insurance certificate which shows TPD valid for 5 years and Own damage valid for one year (which expires on 1st Feb 2023).
Accordingly I have checked the SBI General website thinking that I can renew the Own damage policy online but I am not getting a quote from them instead it says ''Dear Customer, renewal quote is not available for your policy as of now, it will be generated 90 days before your policy renewal date, request you to visit again''
For the purpose of MVD checking, I can easily show the Digilocker copy which shows validity till 2027, but I still feel we must have an Own damage insurance also. I don't want to go to the SBI office which always fully crowded and sicne online quote from SBI is not available, should I check with others like ICICI Lombard??
Your guidances please!
My Two wheeler (TVS Jupiter 125) Insurance expires on 1st February 2023 as per the Insurance policy copy (from SBI General) however Policy certificate in Digilocker shows as Insurance valid until 1st Feb 2027.
When I checked the physical Insurance certificate which shows TPD valid for 5 years and Own damage valid for one year (which expires on 1st Feb 2023).
Accordingly I have checked the SBI General website thinking that I can renew the Own damage policy online but I am not getting a quote from them instead it says ''Dear Customer, renewal quote is not available for your policy as of now, it will be generated 90 days before your policy renewal date, request you to visit again''
For the purpose of MVD checking, I can easily show the Digilocker copy which shows validity till 2027, but I still feel we must have an Own damage insurance also. I don't want to go to the SBI office which always fully crowded and sicne online quote from SBI is not available, should I check with others like ICICI Lombard??
Your guidances please!
Didn't receive any response from members. In the meantime, I have received a reminder from Aditya Birla Insurance Brokers with a link to renew the insurance, but it didn't work.
.
Tried to get a quote from ICICI Lombard, but they gave me a quote for OD along with 5 years TPD.![[shock]](https://www.theautomotiveindia.com/forums/images/smilies/Shock.gif "Shock [shock]")
Finally spoke to the TVS dealer and then visited their showroom personally. They arranged the Insurance from National Insurance company. The total premium for one year OD worked out to Rs.1177/- for an IDV Rs.80, 087.
.
Tried to get a quote from ICICI Lombard, but they gave me a quote for OD along with 5 years TPD.
Finally spoke to the TVS dealer and then visited their showroom personally. They arranged the Insurance from National Insurance company. The total premium for one year OD worked out to Rs.1177/- for an IDV Rs.80, 087.
Hello everybody. I am planning for new car but confused about buying insurance. Should i buy insurance provided by the car dealer or to buy seperately through online ? My friend told me to buy online as it will save money. Is it true ? Is it compulsory to buy insurance from the car dealer for new car ?
It is not compulsory to buy Insurance from the car dealer. Sometime buying motor insurance through a dealer would definitely help save some time and possibly you are saving some money too (depending to the dealer).
You take a quote from the dealer and then compare with it from the quote you receive from the online insurance purchase. If you get a good amount of money saving by taking online insurance, then go for it. However the saving is just marginal then better stick with the dealer which will save your time and effort.
You take a quote from the dealer and then compare with it from the quote you receive from the online insurance purchase. If you get a good amount of money saving by taking online insurance, then go for it. However the saving is just marginal then better stick with the dealer which will save your time and effort.