Exploring Car Insurance and Claims | Let's Discuss Ep.1 | Karsenz

Welcome to 'Let's Discuss' with Mr. Karthik, MD of Karsenz Total Car Care Pvt Ltd! In this episode, we uncover the hidden truths and myths about car insurance. Discover the grey areas, common misconceptions, and essential facts you need to know to make informed decisions about your coverage. Don't miss this insightful discussion that could save you money and hassle regarding your car insurance!

[@karthickkumar9821]

Please do these kind of podcasts kind discussion.......

[@vivekjake3109]

Intha video ku than nan wait pannitu irunthen thank you sir.. ❤

[@srivishnusaran1224]

Karthick bro the legend 🔥🔥

[@user-zx4uh4pp3o]

100 💯 useful content

[@ilyasahmed2018]

Great information sir thank you

[@believein9664]

Very interesting sir… thank you. Tell me about AMC, difference in AMC and insurance

[@karthickkumar9821]

Nice...

[@nagarajanbalakrishnan1182]

Nice info

[@themouli11]

Good infromation bro. Is it adviceable to increase IDV??

[@karsenz]

Thanks a lot! Increasing your IDV can provide better coverage but will also increase your premium. Consider your car’s age and your budget before deciding.

[@user-hp6zq1mj5x]

Sir automatic transmission pathi solla mudiyuma

[@vivekjake3109]

Sir but nan niraya insurance company kitta ketuten zero depreciation edukanuna car 5yrs kulla irukanum nu soldranga... Car vangi 5yrs kulla iruntha mattum than zero depreciation poda mudium sollitanga...

[@veerakumarrm]

Abs motor ku elm ena add on?

[@vasanthkumar1787]

Bro hydro carbon cleaning pathi detail ah oru video podunga or shorts la solunga

[@samson735]

Sir, i purchased a car in bankloan bank inssist me to get OD insurance ...is really need for loan vechile...must OD for loan vechile

[@nidharshan5459]

Idv is customisable

[@johnnybhai851]

Sir return to invoice add on la iruka nu epdi pakanum and atha old insurance la add pana mudiuma?

[@karsenz]

Look for “Return to Invoice” (applicable only for three years old car) in the add-ons section and Contact Your Insurer to add RTI cover.

[@KaliMuthuPixel7001]

Sir, recently i got my first car in second hand. Previous owner already claimed insurance last year for the same car, then the insurance got expired. Now can i able to acquire a new insurance with NCB with my name?

[@karsenz]

The NCB belongs to the policyholder and not the vehicle. If the previous owner made a claim, their NCB does not transfer to you. You can start accruing NCB from the first year of your new policy, provided you do not make any claims during the policy period. So, while you can't inherit the previous owner's NCB, you can build your own NCB over time with a claim-free period.

[@veerakumarrm]

Suppose ipo 2 vehicle crash aairuchu, en car damage ku opp party ooda 3rd party use panniklm ah? Apo namma own damage claim use panna thevai iliya?

[@karsenz]

Yes, if the fault is on their side, you can use their third-party insurance to cover the damages.However, the cost of damages will be decided by the court of law.

[@rajashaker2476]

If Rat bite means..?What about ncb

[@karsenz]

Yes, if you claim for rat damage to your car, you will typically lose your No Claim Bonus (NCB). Claims generally impact your NCB, so consider the repair cost versus the benefit of keeping your NCB before filing a claim.

[@ngowthaman2538]

Can i cancel my insurance and re-apply .. i have an active insurance policy and that will expire next month .. last week i paid for insurance renewal can i cancel that and re-apply

[@karsenz]

Yes, you can cancel your insurance policy and re-apply, even if you have already paid for the renewal. To do this, contact your insurance provider to understand their cancellation process and any potential fees. Once canceled, you can re-apply for a new policy with the same or a different insurer.

[@sajeesh605]

Sir Purchased new one one month before can we add on some of the things in insurance..?! Is it possible this situation

[@karsenz]

Yes you can! Reach out to your insurance provider and Inform them of the add-ons want to include in your policy. Pay the extra cost associated with the add-ons.

[@sajeesh605]

@@karsenz thanks ton

[@gj5288]

Sir german cars matum dha deal panuvingala or all brands um deal panuvingala incase service nu vandha

[@karsenz]

Kindly contact Mr.Akaash [phone] for slot availability and booking assistance.

[@shripranav8632]

Company service pannalana , insurance claim panikalama ?

[@karsenz]

In India, you can generally claim insurance if you service your vehicle at a non-dealership repair shop, provided: 1. The shop is reputable. 2. The servicing adheres to the manufacturer’s standards. 3. You maintain detailed service records. 4. You review your insurance policy for specific requirements. 5. The vehicle’s warranty is not voided by using non-dealership services.

[@shripranav8632]

@@karsenz Thanks for the clarification

[@bhaskaraswin2103]

Let's say I have claimed my insurance amount for 10 lakh in a financial year. Does that mean my car value will be depriciated by 10 lakh in the overall value of my car?

[@karsenz]

No, claiming an insurance amount of 10 lakh does not directly depreciate your car's value by 10 lakh. The claim covers repair or replacement costs due to damage. Depreciation is a separate process based on the car’s age, mileage, and wear and tear. While a claim might slightly affect resale value, it doesn't directly reduce the car’s value by the claim amount. Depreciation continues as per the usual schedule. You will lose NCB for next year!

[@bhaskaraswin2103]

@@karsenz Thanks a lot for the info. Waiting for more videos on the series.

[@praneshkumar1977]

Bro, if i am claiming my 80% IDV value for 1 st year, then what will be my nxt year insurance amount will it be same or reduce by some amount due to idv depreciation or will get increased by some amount due to claiming of 80% of idv in 1st year does that directly affect my premium amount for nxt year. Most of them are not mentioning about this. Can explain this in detail.

[@karsenz]

If you claim 80% of your car's Insured Declared Value (IDV) in the first year, your insurance premium for the next year will be affected by several factors: 1.Depreciation: The IDV will naturally decrease due to annual depreciation (typically around 10-15%). 2. No Claim Bonus (NCB) Loss: You lose any NCB, which would have given you a discount on the premium. 3.Higher Premium: The insurer may increase your premium due to the large claim, seeing you as a higher risk. Example: Initial IDV: ₹10,00,000 Next Year IDV:₹8,50,000 (after 15% depreciation) Current Year Premium: ₹50,000 Next Year Premium: Without NCB: Suppose ₹45,000 base premium (due to lower IDV) Adding risk loading (e.g., 10%): ₹4,500 Total Premium: ₹49,500 In summary, after claiming 80% of your IDV, expect a higher premium next year due to the loss of NCB and risk loading, despite a lower IDV reducing the base premium.

[@praneshkumar1977]

Thanks for your response bro😊​@@karsenz