1st Renewal of Insurance Policy

PRAVEEN could you plese explain........

Have a look here - same discussion/matter.

First of all im thanking you for the advice and support finally i paid my insurance with reliance for (no ncb)9800rs(idv3800000),actual amount was 15000 in that 20%discount for tata cars +reduce 3000rs from dealer commision and finally paid 9800rs,but my doubt is one agent told if you pay 9800rs also they suppose to give bill for 117oors{which is 20%discoubt-dealer commision) but i got bill what i paid which is 9800rs ,,any comments??

Edit Remark: Please do NOT type in UPPERCASE (since converted to Sentence case).

The receipt given to you is in order.  It has to be in accordance with the premium paid.

Dear Pankaj & other forum members,

My car Ford Ikon 1.3 petrol is due for insurance renewal on 1st anniversery on 9th Dec. The existing service provider, i.e., ICICI Lombard (IL), has sent a quotation of a premium of Rs.10497.00 for the IDV Rs.375788.00.

I had another quotation from Bajaj Aliance (BA) of Rs. 8357.00 for the same IDV. The difference, which is quite substantial (Rs. 2140/-), is because BA gives a"commercial own damage discount" of 35%. In both the cases I am eligible for NCB of 20%.

However, when contacted IL today, I was told that they do not offer discounts other than NCB. Even if some other party gives a discount of X% ("commercial own damage discount" or whatsoever), this will affect the coverage by X% in case of a claim. That is, for example, if BA offers me 25% such discount, in the event of a claim of Rs. 1 lakh the service provider will give maximum Rs. 75000 and the rest is my own responsibility.

Dear friends, initially I zeroed on BA because of substantial difference in the premium. but after hearing the above from IL, I am a bit confused.

I would appreciate if you please give me an appropriate solution at the earliest.

No, I don't think discounts would affect the claims - never heard about it.