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    Thread: “Thunderbolt” XUV 5OO Detailed Review (HID, Audio, LED, Mods++)

    1. #131
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      Quote Originally Posted by bhvm View Post
      3. I talked to Coverfox experts and he said that even if I raise IDV by selecing another insurer (A good quote is available from Bajaj Alianze with 6.62L IDV at same price) the IRDA has all data of previous insurance and they will calculate it only by deducing 10% every year, which again comes to 5.58L. So I will be paid only 5.58L regardless. Does this make sense?
      Wrong info. Its called IDV -> Insurer Declared Value. You can retain or even have higher IDV value than last year by paying extra premium. You as a Insurer can decide how much value you want to have for your vehicle. If one insurance company can't do that the other will be willing to do that. For example Some Insurance companies do not accept renewal of Chevy vehicles at all. But some Insurance companies do. Its upto the Insuring company to accept / decline for some brands and some models. But IDV is purely your choice.

      Quote Originally Posted by bhvm View Post
      2. The HDFC insurance is allowing only this max IDV as per their website. Is there an option to manually raise this>?
      Use Policy Bazaar. Or as pointed out by rksingh1, speak to the Customer care. If they don't budge don't hesitate to look for another provider.

      Tip: Check with the ASS as which Insurance provider is good with claims and go with them. End of day its your ASS who is going to co-ordinate with the Insurance folks.

      Quote Originally Posted by bhvm View Post
      What is Personal accident cover? Does it cover when owner is not present in the car at the time of mishap?
      Yes it does. But if you have a existing term insurance or other accident cover this is not required. Its a cross selling most Insurance Providers do and its optional. Its not mandatory for you to opt for it (Even if you don't have a Personal accident cover). On the other side, for a 300 bucks odd premium they'll give upto 1L cover. So it would be good as well if you wish to opt for it. You have options to cover Owner + Unnamed passengers too. Choose based on your need *if* you're opting for it.

      Dream is not what you see when you sleep;dream is something that doesn't make you sleep - A. P. J. Abdul Kalam.

      Mahindra XUV 500
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    2. #132

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      Quote Originally Posted by rksingh1 View Post
      True, anywhere in the range of 7 should be good.
      Thats what I thought. Unfortunately I did not pay attention and last year IDV was 6.20L. When deduced 10% comes to 5.85L which is max being offered by HDFC
      Quote Originally Posted by rksingh1 View Post
      It may be same,
      That would be my target. Atleast 6 lacs.
      Quote Originally Posted by rksingh1 View Post
      What does this cover say? For my policy, it say PA cover for Owner driver of 1.5L (for me) and PA cover for unnamed person of 40k each (others).
      Personal Accident Cover 15 lacs

      Passenger Cover 50k each

      Road side assistance.

      This is as per Coverfox

    3. #133

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      Quote Originally Posted by Lvramanan View Post
      Check with the ASS as which Insurance provider is good with claims and go with them. End of day its your ASS who is going to co-ordinate with the Insurance folks.
      This is why I am sticking with HDFC.
      Rather than total loss, Im more likely to use their RSA and partial repairs.
      All Reputed Mahindra dealers are with HDFC.
      Bajaj alianz seems to be full of just FNGs.

      Quote Originally Posted by Lvramanan View Post
      On the other side, for a 300 bucks odd premium they'll give upto 1L cover
      They are giving 15 lacs for just 325. so I opted for it.

      Quote Originally Posted by Lvramanan View Post
      Yes it does. But if you have a existing term insurance or other accident cover this is not required.
      I wonder if this PA will be denied if I already have term Insurance/ LIC (which I already have). If they are denined on grounds of duplication then there is no sense to go for PA whatsoever.

    4. #134
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      Quote Originally Posted by bhvm View Post
      denied if I already have term Insurance/ LIC (which I already have)
      Having multiple term insurance is allowed - there is no duplication there. You can have as many as you want. This is not true for general insurance which can't be duplicated.

    5. #135

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      What about combo of PA cover (in car insurance) plus term or LIC? Do we get both?

    6. #136
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      Quote Originally Posted by bhvm View Post
      I wonder if this PA will be denied if I already have term Insurance/ LIC (which I already have). If they are denined on grounds of duplication then there is no sense to go for PA whatsoever.
      I guess no they can't do that.

      Quote Originally Posted by bhvm View Post
      What about combo of PA cover (in car insurance) plus term or LIC? Do we get both?
      Term is term. Personal accident is a add on there. Likewise PA is a addon on Car insurance which again you can get both.
      Last edited by Lvramanan; 14th Mar 2019 at 11:51.

      Dream is not what you see when you sleep;dream is something that doesn't make you sleep - A. P. J. Abdul Kalam.

      Mahindra XUV 500
      Tata Tiago XZ Petrol
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    7. #137

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      Had a lengthy chat with HDFC ergo customer care due to very low IDV of Renewal. They always gave a very robotic reply that renewal IDV is 10% less than past. I have asked them to eselate my query and they said they'll get back in 2~3 days.

      Here is what I found on IRDA website-

      IDV of vehicles beyond 5 years of age and of obsolete models of the vehicles ( i.e. models which the manufacturers have discontinued to manufacture) is to be determined on the basis of an understanding between the insurer and the insured.

      IDV shall be treated as the ?Market Value? throughout the policy period without any further depreciation for the purpose of Total Loss (TL) / Constructive Total Loss (CTL) claims.

      The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and / or repair of the vehicle, subject to terms and conditions of the policy, exceeds 75% of the IDV of the vehicle.
      36-43 Policy wording product - Private car package policy.pdf

    8. #138

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      Got a call from some senior of HDFC ergo and they are ready to give Same IDV as last year (6.20L) and same premium as last year. However as this transaction is from backend it cannot be renewed on Coverfox or HDFC website. They are going to send me a payzapp Payment link, after which policy will be generated in 2~3 days.

      I have asked all the details in email for clarity, Lets see.

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