vibhor

Insurance of my car? Please help!

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Hi friends!smiley17.gif

Well, actually its time for my Maruti 800 DX (2003 model) insurance!

but am confused, from which company to get its insurance!..before it was from TATA AIG, but this time when I aksed, they are are keeping my car's value to just about Rs.90k!!smiley3.gif..its quite surprising for me!thats very less!..why so sudden decrease in its price? I expect it to be atleast a lakh!

So am thinking to look out for any other insurance company,

I need your help in this matter,

Firstly, How much should be the value of my car?

Second, From which company I should look for insurance, except TATA AIG!Please help me out!smiley1.gif

 

Thanks,

Vibhor
vibhor2008-12-10 11:19:17

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Hi friends!smiley17.gif

Well' date=' actually its time for my?Maruti 800 DX (2003?model)?insurance!

but am confused, from which company to get its insurance!..before it was from TATA AIG, but this time when I aksed, they are are keeping my car's value to just about?Rs.90k!!smiley3.gif..its quite surprising for me!thats very less!..why so sudden decrease in its price? I expect it to be atleast a lakh!

So am thinking to look out for any other insurance company,

I?need your help in this matter,

Firstly, How much should be the value of my car?

Second, From which company I should look for insurance, except TATA AIG!Please help me out!smiley1.gif

?

Thanks,

Vibhor
[/quote']

Visit Policy bazar.com..

http://www.policybazaar.com/car-insurance/car-insurance-india.aspx

You can compare policies and their features and decide.

Rgds

Vivek

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I found ICICI Lombard the best! good service is what they offer!

Regarding the car, I think its worth 90k.. I recently bought a M800 with AC for 1 lakh, 2004 model.I think that is fair enough!

 

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Actually, mine is DX version n i bought it for about 2.7 lacs!...so i dont think 90k is ok for it!..last time done it for about 1.somethin lacs....so suddenly 90k!

..btw, any idea about Iffco Tokio and Bajaj Aalianz?

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yup!Thanks alot vivek!Thats quite useful!Thanks again!:-)

You r welcome... smiley4.gif

I just got my car's Insurance renewed from ICICI lombard....online...no hassle....no documentation to be submitted and they offer interest free emi option for 3 to 6 months if you pay by Credit card.

I took out a print out of the cover note in a minute and emailed it to my id just like that....

Try that...

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@vivek : thanks!ill try it out!!smiley17.gif

 

DX is the same as an 800 with AC? How many kms has it done Vibhor?

No buddy, DX is different!....800s base model is Standard then A/C and DX!

..anyways my car has clocked just 15k Kms!..n its in almost new condition!:-)smiley1.gif
vibhor2008-12-10 12:17:51

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The IDV of the car is calculated on the basis of showroom price of the same or similar model right now and then the depreciation is charged at 10% or Higher for every year. Since yours is a 2003 model, find out the current showroom price from the dealer and then ask the rate of depreciation from the insurance company...that should give you this figure.

Hope this helps.

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the depreciation has nothing to do with the Odometer Reading. Its calculated on the condition of the car (if the previous policy has expired before renewal), the current demand of the car, the spare parts costs, and the year of purchase. If the current demand is low, the spares are expensive, will decrease the IDV of the car. The Rate of Depreciation is High for initial 2-3 years, then the Depreciation Rate is low. This specially applies for the cars whose Ex-Showroom is very high, and also if the car is not in great demand currently.

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@Vibhor: Tata AIG give's a good deal. I also wanted to opt out, after the AIG fiasco. But even a good agent from New India advised me Tata AIG is a good co. New India wasn't able to 'match' their premium, I paid Rs.9430 for my 3 year old Elantra. Don't worry Vibhor, your car will hold on to it's value like a leech, M800 is one of the car's with least depreciation. Enjoy.

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Thanks alot Durango buddy!

Actually, this time am thinkin of iffco tokio or bajaj aalianz!..and some other my friends told me that 90k is really very less for my car!...it should be atleast 1.1lacs!..anyways!..ill check out!..n thanks again!:-)

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Dont worry about the IDV. Its the value which the Insurance Co. will pay if your car is damaged upto such extent that it cannot be repaired.

It will not affect your car's Resale value.

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Go for bajaj allianz they have a tie up with maruti u can pay ur premium at ur nearest maruti showroom itself,its hassle free,higher the IDV higher the premium, if u ask for higher idv i think they may help u out

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For a five year old car, I would definitely not stay comprehensive. An M800 is cheap to repai and maintain. Switch to Act + Fire, or Act + Theft or Act + Fire and theft. The premium will be much lower. When you go Comp again the NCB will be available. If you plan on a new car within three years then you can even switch to Act only and get an NCB certificate. The policy number will change. The certificate is valid for three years.

These options are only with the 'sarkari' insurance companies.

sgiitk2009-01-01 04:34:34

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