I purchased my first car, Toyota Etios Liva, in the year 2018. Since then, I never opted for insurance from the dealer.
I always assumed that the premium would be higher if purchased through the dealer compared to getting an insurance on my own. That was the case until last year.
I purchased Insurance from TATA AIG in 2024 and I must admit that I loved their web interface. The claim process was clearly outlined, making it easy and efficient to navigate.
Unfortunately, I had to claim insurance for a minor incident and because of the claim, the premium went up this year during renewal.
I was looking out for the best value for money Insurance plans from different companies. But, all the plans turned out to be higher than my calculations. I believe that the reason for the higher premium is not only the claim but also other factors such as the age of my car, Inflation, the current economy, etc.
One day, I received a call from my dealer’s insurance team reminding me about my insurance renewal. I became curious and asked them to send me a quotation. I was quite surprised by what I saw.
The quoted premium was half the price of the quotation I received from my current insurer. So I called them and mentioned that I made a claim in the current policy and asked them factor-in the NCB.
The dealer’s insurance team verified that the premium reflected had no NCB (No Claim Bonus) in it. To explore more options, I requested quotations from public sector insurance companies that they had tie-ups with. The premiums were nearly the same.
I quickly realized that as the car ages, the tie-up Insurers can provide higher IDVs with reasonable premiums.
Eventually I went ahead with TTIBI insurance. I also insured the newly installed Dashcam valued at INR 15,000 (including memory card under Electrical Accessories).
Unfortunately, the amount I paid via their Web interface failed twice. Thankfully, I was able to recover the amount through their prompt E-mail support.
Today, I’m grateful to live in a world where information is just a few clicks away. The ability to explore options, compare prices, and resolve issues — all from the comfort of my home — makes me appreciate the technology-driven convenience we often take for granted.
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