From April’2017, car, motorcycle and
health insurance is going to get costlier, as the insurance regulator IRDAI is
going to give “go-ahead” to insurers for revision in commission for agents.
IRDAI (Payment of Commission or Remuneration or Reward to Insurance Agents and
Insurance Intermediaries) Regulations, 2016 will hike premium rates by as much
as 40% for 2016-17 which will come into effect from 1st April’2017. For
cars below 1,000cc the premium has raised by 40% to Rs 2,055, while for compact
or B segment cars (1,000-1,500cc) the increase is 40% to Rs 2,237 & for
sedans, the regulator has increased it by 25%.
After the necessary modifications the change in premium is
going to be +\-5 % of the existing rates. This increase will work as an
addition to the enhanced third party motor insurance rates. These regulations
will also bring certain revisions in commission/remuneration rates and will also
lead to introduction of the reward system.
According to IRDAI, this can cause insurers to revisit the
pricing of their products, as far as the costing input relating to commission
or remuneration is concerned. However, change in rates is going to be +\-5 % of
the existing rates of products or add-ons.
For the policies already sold, Insurers will have to give
the certificate saying “no detrimental change” in premium rates and any other
provision of the policy in the policies.
Not just that, it’s now mandatory for used vehicle owners to
transfer the insurance policy in their name to claim the insurance against the
damaged vehicle. As no owner can now file a claim without the valid insurance
transfer in their name.
Claim is only admissible, on the basis of a valid contract
between the Insurance company and the new owner and absence of it will make the
new owner non admissible to claim for any kind of insurance.
According to the court as well, “an insurance policy is a
contract between a policy holder and an insurer and in the absence of the new
vehicle owner’s name on the motor insurance policy, there exists no valid
contract between him/her and the insurance company. Hence, any accidental
damage suffered by the new owner is not admissible under the previous policy.”
Are you as well looking forward to buy a used vehicle and
yet desire not to get through the complicated process of transferring previous
insurance on your name alone?
You are on the right track then, as there is a company who
can assist you and help you in your all types of used vehicle requirements as
transferring the insurance policy on your name is quite a hectic process and
doing it alone can be further more hectic, but it’s necessary and need to be
Shriram Automall India Limited (SAMIL), No.1 service provider for
Acquisition & Disposal of used vehicles in India, provides you the best
quality used vehicles of every make and model in optimal prices, through innovative
bidding platforms & also ensures complete transparency while closing the
Company understands that, buying
a used vehicle can be a big investment, which needs care and further
assistance. So, company with its professional team in 67 Automalls across
India, provides full documentation and valuation services to its customers,
SAMIL team also assist customers regarding their all types of insurance needs.
To register yourself for
acquiring or disposing used vehicles & equipment through a convenient platform
you can simply visit your nearby Automall or click the link below and you are
all good to go.
industry today not only thinks about today but also about the future that holds
immense possibilities. Possibility of an electric car that will solve the
problem of emptying petroleum reserves, fully automatic cars and even flying
cars in longer view.
Today we see all the buzz going
around autonomous or semi autonomous cars that are already being tested on
roads in California and other states and Silicon Valley has taken this
challenge head on to built cars that are not only autonomous but safe.
we talk about autonomous cars, Artificial Intelligence is the first thing that
comes to our mind as most of the technology revolves around an effective &
Below are the 4 pillars of AI that are building cars of the future:
Today engineers are working for
the possibility to make machines talk to humans, this experience will become
easier and smoother with advancements in the technology where machine will
understand your likes, dislikes, recognizing your voice to adapt itself as per
your requirement and provide desirable experience.
You drive on a number of roads
and situations like highways, traffic, dirt roads etc and you may also drive in
snowfall & rain, all these situation makes interaction with your car more meaningful.
Context also includes sensor reading from the car itself, e.g. fuel level,
crash avoidance sensors, or how many people are in the car. These parameters
matter for making smart decisions when driving, and are taken into account by
the contextual reasoning framework.
This is one of the most crucial
aspects of Artificial Intelligence; here the vehicle will automatically load up
all your preferences that it has been taking into account over a period of
time. The vehicle will recognize you on the basis of voice or account and show
result that you can accept or modify.
Knowledge is the gateway of everything;
your car will provide you every single detail like you wish to know about the
car or about the location that you will be travelling to.
As a basic human nature, we generally don’t
realize what we got until it’s gone, try not to make that mistake with your automobile engine.
Just like human illness, there are certain
symptoms of engine sickness that warrants an engine replacement. But just like
humans, sometimes our vehicles just do
what they're supposed to do, yet if not well they will show symptoms like show
up late, have no energy, can't do what they've always been able to do before or
worse, like humans they too call in sick throwing a wrench in the works.
For your convenience we are herby
mentioning those symptoms to you just like family doctor’s tit bits to help you
have a vehicle with safe & sound engine.
1. No change in Diet, No good working for you!
Just like human heart,
vehicle’s engine requires healthy food to pump well and work well. Oil is the lifeblood for engines. Not
regularly changing it according to the
vehicle manufacturer’s recommendation will damage it. As it’s important
to use the proper oil type, for the engine.
2. Overlook the oil leaks, it will omit your on road needs!
Here we have it, wry
and slightly sideways look from our vehicle telling us that it needs a change
of heart for its system. If you face heavy oil leaks, the problem is a loss of lubrication to
metal parts of the engine, causing internal tolerance wear issues and
eventually premature failure.
3. Check warning light… Come on?
Warning lights that you should never
ignore if you love you owned asset:
·Check Oil/Oil Level Low
·Oil Pressure Low
Engine damage is likely occurring when these lights come on. A couple of more reasons when these lights blink are change of oxygen sensor or the catalytic converter, and “You would be wise to take your vehicle in for proper diagnosis.
4. Want your vehicle to cool down? It won’t if you will keep ignoring it.
Just like everything else owners, even some repair facilities, don’t recommend cooling system maintenance, unless it gets completely deteriorated while shortening the life of the coolant parts. Being the owner you better not ignore it & maintain you cooling system regularly.
2 5.Don’t flood your Engine, it needs to breathe as well.
Driving through standing water or even a heavy rainstorm can potentially damage your engine. As the intake manifold supplies the air/fuel mixture to the engine & water intake finds its way to the combustion chamber where the spark plug is, causing engine damage.
3 6.Tea for two on steam from your Engine?
In mood for a cup of Tea? Unfortunately Steam from your engine is not such a good thing & it certainly is not an indication that it might make you a cup of tea. It more likely is telling you that you engine might fall in half as your gasket, radiator or pipes are leaking.
We have played our part while making you aware about what might be going on with your vehicle. Now it’s your turn to stood up for your beloved asset & make it long lasting.
Sameer Malhotra(CEO, Shriram Automall) shared: “Being the CEO, of a pre-owned vehicle & equipment industry, I must tell you that just like our body our vehicles & machinery requires complete care & assistance as well. So, rather than ignoring what your asset is trying to tell you, better start listening to it for smooth on road results.”
It’s not with you, it’s with everybody that we take our automobile symptoms for granted, but if you read this all the way through something is severely wrong with your beloved vehicle which is bothering you. But not to worry when SAMIL is there No.1 Solution provider for all used vehicles & equipment requirements. You can both register yourself through the link below or download “My SAMIL APP” and go through their allied services in a detailed manner.
March 31 2017 the day when BS III
compliant vehicles sales is supposed to be stopped all over the country, this
will make 9 Lakh BS III compliant vehicles with a value of Rs. 12,000 Crs
obsolete in one shot. However a section of industry is keeping its hopes high
and believed that the government will move the deadline ahead to lower the
loss. According to an order of the Supreme Court-mandated Environment Pollution
Control Authority (EPCA), only BS4-compliant vehicles will be registered in the
country from April this year.
While one half of the industry is
in support of the mandate other wants the decision to hold until their stock
lasts. The main reason of the confusion is said to be the notice shared by road
transport and highways ministry which spoke about making BS IV Mandatory from
April 2017 but did not mention the discontinuing of BS III vehicles in the
While the passenger vehicle
segment is happy with the introduction of BS IV but the commercial vehicle
& two wheeler segments are the one hit hard where a lot of old-generation
stock is lying in the market.
According to industry estimates,
nearly 75,000 units of BS3 commercial vehicles will be left unsold at the end
of March, leaving a question mark on their usefulness in case registration is
Meanwhile to stay away from all
the above regulations if you wish to buy pre-owned vehicles with CNG option, you
can get in touch with Shriram Automall. The company offers widest range of usedvehicles & equipment under one roof. You can also get take benefit from the
finance company offered in assistance with STFC.
India, which is on the verge of emerging
the 3rd biggest automobile market in the world is now attracting
global companies to drive in and eat the share of pie. Recently KIA, Peugeot
& SAIC motors also unveiled their plans to enter the country. In fact as
per the recent news KIA is on location hunting process and is likely to
finalize Anantpur in Andhra Pradesh as its first plant location and will
finalize the deal by February 2017 end.
Recently Toyota Motor president
Akio Toyoda and Suzuki Motor chairman Osamu Suzuki had a meeting with the Prime
Minister Narendra Modi to apprise him about their recent tie up in Japan and
its implications in India.
India is critical for the
Japanese parent with 50% of global sales coming from the country, said Maruti
Suzuki chairman RC Bhargava. So whatever technology it gets from Toyota will
surely be deployed in India, he said
Not only Toyota & Sukuzi, a
number of global bosses are visiting the country to get the hang of market
Skoda Auto's global CEO Bernhard
Maier made a trip soon after taking over. General Motors CEO Mary Barra visited
twice in less than a year to restructure local operations and devise a
Ford Motor executive chairman
Bill Ford visited late last year to inaugurate the New Product Development
Centre that will create the foundation for India products. Hyundai Motor
chairman Chung Mong-Koo is also expected to visit soon to announce the launch
of the Kia brand in India.
The Indian automotive industry
broke into the top three in 2016, according to rating agency CARE.
With the passenger
vehicle market set to cross the 3 million mark by the end of 2017, India is
seen as a future growth centre by all manufacturers. According to IHS Market
Automotive, India is expected to be among the fastest-growing markets in the
coming five years besides which local regulations are also getting harmonised
with global standards.