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Is it mandatory to buy two wheeler insurance from showroom
- Thread starter yb24
- Start date
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- Tags
- insurance two wheeler
All dealers (Car & Bike) will tell customers that it's mandatory to buy from them. Just ask them to show you which rule says so and give you in writing. Take a quotation directly from any insurance company and show it to them. Ask them why their insurance is so expensive compared to direct from the insurance company. They will try and match the price that the insurance company gives directly.
Beyond
TF Ace
They give 2 insurance 7 days + 1 year.
that 1 week insurance is dealers and 1 year is optional
It's very difficult to take it outside. One thing is - show the quotation from outside and tell that you are getting it cheaper there. So you don't want to take it from them. Sometimes they will either agree or they will reduce the premium and match with what you showed.
Another thing is - take from them, and next year onwards, do the thirdparty renewal outside. (thirdparty you need to renew every year, Only standalone will be long term - 3 or 5 years.)
Another thing is - take from them, and next year onwards, do the thirdparty renewal outside. (thirdparty you need to renew every year, Only standalone will be long term - 3 or 5 years.)
yb24
TF Premier
But they give 3+3 I think 3 year first party and then second party
Updated :
It is 1 + 5
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Suggestion: Once you start getting NCB Year on year or Going for long term 3-5 years kind, the total cost you pay for 3rd party, if you add comprehensive, that's not much of a difference, but helpful in many cases.
+1
It is other way. Third party insurance is for three / five years for new vehicles. Own damage is usually 1 year.
Recently, I have seen in A4 sheet pasted in Hyundai showroom where written in bold- Insurance may be purchased from outside.
Also, showrooms themselves are giving very competitive pricing these days. Negotiate with them by showing them quote from outside and they may match it. But if you are getting credit card / wallet benefits by buying online, definitely go for online.
What is second party?
No, but saves time buying from the dealer.
Beyond
TF Ace
MY experience says showroom insurance is always expensive compared to outsideIt is other way. Third party insurance is for three / five years for new vehicles. Own damage is usually 1 year.
Recently, I have seen in A4 sheet pasted in Hyundai showroom where written in bold- Insurance may be purchased from outside.
Also, showrooms themselves are giving very competitive pricing these days. Negotiate with them by showing them quote from outside and they may match it. But if you are getting credit card / wallet benefits by buying online, definitely go for online.
It's third party, actually 😉
yb24
TF Premier
Yes sorry it was third party
yb24
TF Premier
Sorry it was third party
No. The rule is you need insurance file no before registration as they have to input it to update on parivahan.
You can take insurance outside.if they don't agree you can complain to brand .
P.s. I always do insurance by myself. You can potentially save thousands. I take all add ons still it is considerably lower than showroom quote. Recently bought a bike with all addons still it was 7-8k cheaper than showroom quote with just 0 dep add on.
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With new MVA 5yr insurance is mandatory while registering new vehicles. So whether you do it by yourself or by showroom it will be 1yr 1st party + 4yr 3rd party.
It is 1 year own damage + 5 year 3rd party. After one year, you will need to renew own damage (or call standalone or first party) insurance. 3rd party will be valid for 5 years since purchase of policy.
Yes the 1st yr is comprehensive. (3rd party is mandatory, so 1st party is technically same as comprehensive.) So it covers everything damage to self and 3rd party. Next 4 yrs it covers only 3rd party.
From 2nd yr you need to update 1st party, but problem is they'll automatically add 3rd party As well. I was told we can remove already paid premium if we are taking 1st party insurance from same insurer. But the process is little lengthy as they have to do something with para vahan, and you know how they are.
This was a bad move. They should've allowed to buy 5yr comprehensive insurance, which they dont. Earlier you could.
My advice is take up as many add ons as possible. The extra premium isn't that much.
Showroom guys only give 0 dep, which isn't sufficient.
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It was straightforward when i bought online. One just need to select OD for second year with bells and whilstles that you need. It is really simple. And they dont add third party automatically unless you are buying one with.
yb24
TF Premier
So I talked to Icici lombard they told me that there are two plans
1. 1 year 1st party 5 year third party
2. 5 year 1st party 5 year third party
Can you suggest me the best two wheeler insurance provider and what addon I should consider.
I am considering tata aig as of now.
1. 1 year 1st party 5 year third party
2. 5 year 1st party 5 year third party
Can you suggest me the best two wheeler insurance provider and what addon I should consider.
I am considering tata aig as of now.
