Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Search
Forum
Hot Threads
Tech Stuff
News
Classifieds
Reviews
Photos
Advice
Store
Team-BHP FAQ
New Topics
Remember Me?
Log in
Today's Posts
Search
Page 1 of 4 1 2 3 4 >
2
Like
LinkBack
Thread Tools
rjvora_2000
Senior - BHPian
#1
Automobile Insurance - FAQ
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
1/12
10/6/2014
including CC, make model, sub type, fuel type, seating capacity
(very important) etc.
Q. What are the points that I need to check in the renewal
notice?
A. IDV is reduced by a minimum of 10% from last year,
Vehicle Registration No. is correct;
Premium is less than the last year (If you have not made any
claim.)
NCB (If applicable) is more than last years NCB. (Maximum
50%)
Sometimes the Third Party insurance premium may get revised.
This is very rare and it may cause the premium to go up.
Q: What are the factors that one should consider before
selecting an insurance company?
A: Ideally the company that has a cashless tie-up with the
widest network of service stations that you may visit in case of
an accident. Secondly, the company which offers you the best
rate without any excess on it. Above all, choose a company that
has a good and fastest claim settling ratio and record.
Q. Why two insurance companys premiums are not
same?
A. All the companies offer 1. Different discounts, 2. Different
P.A. cover and 3. Different IDV. It is the reason of difference in
premium amounts for all the insurance companies.
1. Different discount: - This mainly depends upon the claims
experience of a particular company. If claims experience is good
then they will offer higher discount and if claims experience is
bad then less discounts are offered.
2. PA (Personal Accident): - PA cover premium will not differ
from company to company but it is an optional cover you need
to choose the amount how much you want to cover. Eg. One
company will offer Rs. 100 as a premium and other company will
offer Rs. 250 as a premium.
3. IDV: - Major factor influencing will be IDV. But be very
careful, many companies reduce IDV a lot, reduced IDV means
your premium will be reduced. Most important point here is at
the time of claim insurance company will also have to pay less
for your vehicle. (It should be reduced every year by 10%
minimum to 20% maximum.)
Always keep your IDV on higher side, it helps
1) During claims.
2) At the time of selling car.
Q. What is NCB and how is it calculated?
A: If you dont make any insurance claim on your vehicle then
you are eligible for a No Claim Bonus (NCB). This is a discount
on your premium for the coming year and is calculates as under:
1st year 0% in Own Damage premium amount
2nd year 20% in Own Damage premium amount
3rd year 25% in Own Damage premium amount
4th year 35% in Own Damage premium amount
5th year 45% in Own Damage premium amount
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
2/12
10/6/2014
3/12
10/6/2014
4/12
10/6/2014
(19) Thanks
#2
nairanupg
BHPian
Thanks a lot for all the valuable inputs you have been providing
me.
I have been glued to all your comments and titibits since the last
couple of months when i decided to go in for a new car.
and
you have been instrumental in me looking for an insurance
provider other than icici or reliance too.
Thanks a ton and keep up the spirits
(1) Thanks
#3
5/12
10/6/2014
S5157
BHPian
#4
SPIKE ARRESTOR
Senior - BHPian
#5
alstonvaz
BHPian
#6
rjvora_2000
Senior - BHPian
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
6/12
10/6/2014
Posts: 1,649
Thanked: 23 Times
where you are using this term?, how you are using this term?
#7
mac187
BHPian
Quote:
(1) Thanks
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
7/12
10/6/2014
#8
Twiny
BHPian
Very much handy, I was looking for the NCB % year wise Thanks
Rupesh
#9
aniketi
BHPian
@Rupesh,
Thanks a lot for the info mate. It was indeed useful. I have few
queries in mind if anybody can clarify
#10
guptavis
BHPian
Join Date: Jun 2010
Location: chandigarh
Posts: 248
Thanked: 9 Times
Quote:
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
8/12
10/6/2014
#11
spadix
Senior - BHPian
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
9/12
10/6/2014
Regards,
spadix
arun_kun
BHPian
#12
Re: Automobile Insurance - FAQ
Hi Rupeesh,
I have my insurance for renewal for this feb end. I did claim any
insurance in the first year. How do i claim NCB and how much i
can claim NCB. I have insured with kotak. Do you suggest me to
change to any other insurer. Please advice.
Thanks in advance.
recker_us
BHPian
Join Date: Oct 2008
Location: Bangalore
Posts: 178
Thanked: 18 Times
#13
How to transfer NCB to new vehicle while retaining the old one
Hi,
I have an old Alto with 45% NCB where I pay a paltry 2xxx for
comprehensive insurance. I am planning to buy a new Safari
now but want to retain the Alto for few more months?
Is it possible to use the NCB for the New vehicle and get
substantial savings on the insurance? I know its technically not
possible. But, I am ready to buy a new insurance for the Old
Alto. It might cost around 4k for a new insurance on Alto. But
transfering NCB to Safari would save atleast Rs. 10000 every
year.
Thanks,
JP
guptavis
BHPian
Join Date: Jun 2010
Location: chandigarh
Posts: 248
Thanked: 9 Times
#14
Re: How to transfer NCB to new vehicle while retaining the old one
Quote:
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
10/12
10/6/2014
Did the same thing our old M800 was insured with new india
assurance and the new NHC was insured with Bajaj Allianz. The
Bajaj allianz person from honda dealership suggested the idea
and got the formalities done. Ask the Insurance guy at your
TATA dealership.
#15
Re: Automobile Insurance - FAQ
NevGin
BHPian
My questiona:
1. Can FIR be filed now?
2. Lets assume for a moment that he finally claims from his own
insurance. The balance amount that his insurance does not pay
him can be recovered from my insurance through third party
claim. What is my involvement in this process?
Any help will be highly appreciated.
Thanks
Page 1 of 4 1 2 3 4 >
Registration of a new car without any broker(without paying bribe) in Noida | Anyone "ever" got any Road Tax
Refund ?
Similar Threads
Thread
Thread Starter
Forum
Replies
Last Post
rjvora_2000
3011
27th September
2014 11:41
ForeRunner
10
18th September
2011 12:01
panga007
17th February
2010 21:46
Privacy Policy & Opt Out - Terms & Conditions - Contact Us - Home
- Top
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
11/12
10/6/2014
http://www.team-bhp.com/forum/indian-car-loans-insurance/77247-automobile-insurance-faq.html
12/12