I HAVE BOOKED HONDA AMAZE PETROL INSURENCE WHICH HONDA IS

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I HAVE BOOKED HONDA AMAZE PETROL, INSURENCE WHICH HONDA IS GIVING IS Rs 2000/-COSTLIER THAN THE INSURANCE I CHECKED ON A SITE. SHOULD I BUY IT FROM HONDA? HOW CAN I GET IT INSURED FROM OUTSIDE AS I HAVE NOT GOT THE REGISTRATION ETC.? WHAT IS THE PROCESS?
  • 1562 day(s) ago
Under:   #Insurance
12
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Kiran
The main point to be checked before buying insurance is the Insured Declared Value(IDV) usually the showroom and the website quote the insurance premium for a reduced IDV, the result of this is your premium that you pay is less, but in case of a claim, you will get an amount that is less than what you are actually entitled to, as the insurance claim is calculated as per your IDV.
In case of theft of the car, you will get only the amount mentioned in the IDV,
So it is important that you check the IDV and also check if it matches with the price of the car that you are buying,
After all this, the premium might go even more than the showroom quote, there are different add-on packs available with the premium that give 100% depreciation cover, etc.,
Check all that and then buy.
 

Posted: 1562 day(s) ago

Mr Kiran has given detailed info regarding the same.
 

Posted: 1561 day(s) ago


Shiv Charan Sharma
Do not get insured your car by the Honda showroom and go to the insurance company office
directly and get your car insured by them.Take the purchase bill of the car from Honda co. and
say them I want to get the car insured by the insurance co.of your choice ,you are not bound
to get the car insured by them.The matter is of 10% commission that you will get if you get the
car insured from the insurance co.Before physical departure of the car from showroom the
insurance is needed but on the basis of car purchase bill you can get your car insured from
insurance company of your choice and save money.
 

Posted: 1561 day(s) ago


Ajay Rath
Don’t buy insurance from Honda,
a) Insured Declared Value (IDV) is low and so is passenger cover
b) road assist is also not covered in the insurance, you have to buy it separately from Honda. So in Total if you are paying Rs 2000/- More Further for road side you will pay Rs. 1500 /- more for a year. So in total you end up shelling out Rs. 3500/- more.
c) replacement of lock and key is not covered by honda.
b) Under Honda - Passenger Driving the car cover is 50,000/- Per Person x 1 person = Rs. 5,0000/- & c) Co-Passenger Cover is Rs. 50,000/- Per Person x 4 persons = Rs. 2,00000/-

whereas if you buy your own Bajaj insurance you get higher cover to 1,0000/-. You also get covered for road side assistance and replacement of key and lock and other services. also the settlement is fast as experienced on swift Dzire Claim
 

Posted: 1561 day(s) ago


Ajay Rath
sorry missed out on 1 zero, I meant 1 lakh cover for Bajaj.
 

Posted: 1561 day(s) ago


Ajay Rath
For new car registration, what you need from the dealer is the following :

Make : Honda
Model : Amaze
Sub Type : EMT/EXMT/SMT etc..
Year & month of manufacturing :
Fuel : Diesel or petrol
CC :
Chassis No : M A K D F 2 5 5 D D N 0 0 0 5 7 5 ( Please re-confirm)
Engine No : N 1 5 A 1 2 0 0 0 7 8 0 (Please re-confirm)

once you receive this by mail you can forward the same to the insurance company. The insurance company will forward you the insurance. You can then forward the same to the dealer so he can register the car in your name.
 

Posted: 1561 day(s) ago


Ajay Rath
How do you get the IDV ( insured declared value)

1) On ex showroom cost : ??? 0 to 6 month reduce it by 5% . the amount that you get divide this by 12 month. this will give you 01 month IDV then multiple it into 6 month. you get your 6 months idv.
1) On ex showroom cost : ??? 6 to 12 months reduce it by 15% .the amount that you get divide this by 12 month. this will give you 01 month IDV then multiple it into 6 month. you get your 6 months idv.

then add both 5 months IDV, this will give you 1st year IDV
 

Posted: 1561 day(s) ago


Ajay Rath
then add both 6 months IDV, this will give you 1st year IDV
 

Posted: 1561 day(s) ago


AD
Hey Guys! Thanks
You have done a good job and i would term you as a "Real" Expert.
No Offence to our Expert here.

IMHO You can get the Insurance from outside but you have to check the IDV for your car should be 5% less of ex showroom.
The only downside can be Cashless claim facility not available from outside insurance.

Also BUMPER TO BUMPER INSURANCE IS RECOMMENDED. given the fact of vulnerable plastic parts and depreciation of paint too. Comprehensive Insurance means a more pain in claim.

The higher you pay in dealership is the high commission to them and to the sales person who may deny Insurance from outside to be disallowed. If such case arises, mail or call honda and they will manage the things quickly.
 

Posted: 1561 day(s) ago


Ajay Rath
Honda has a tie up with Bajaj so cashless is not a problem.

 

Posted: 1561 day(s) ago


Gundappa Padmarueshwar
Shiva Shankar Sir I am glad you are back
 

Posted: 1372 day(s) ago


Mohit
Very simple, Honda has tie up with some specific companies and he is selling those insurance from where Honda is getting more commissions so their price is higher than online sites.
Best place to compare car insurance policy for free https://www.coverfox.com/car-insurance/compare-car-insurance/
 

Posted: 849 day(s) ago


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