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Old November 16th, 2013, 12:46 AM
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Re: Car Insurance (India)

Quote:
Originally Posted by khaski_khopari View Post
I am talking about the theory of not claiming the insurance, when your vehicle gets damaged, so that we get the no claim bonus next year (I think the percentage of bonus keeps on increasing every year, if one does not claims insurance for years). What I would like to know that what is the point of paying yearly premium and not using insurance when required, so that you have to pay lesser premium in the next year! This just doesn't makes sense to me !
There is a logic.. if your expense justifies a claim. you claim.

This is how it works.

Say you damaged your headlights and a minor dent. Cost of fixing about 1000. Your no claim bonus is 1100.. does not make sense to claim.. go fix it up and shut up.

If your expense is 5000.. and bonus is 2000 then go ahead and claim.. and that numbers after your deductible if any and charges for insurance rep to come and inspect your car an the inconvenience of keeping it that way with out repairing till that feller comes and the risk of driving it as is with no repairs till the insu. guys comes and the day you have to take off for his welcome.. and... and... and...... you fill in the blank there.
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