Insurance for ICE (Grey market / Imports)

[s0uljah]

This is not a discussion as to whether insuring grey stuff is possible or not.
It is most definately possible.. TBhp member Subbarao for example has his Sony HU insured.

Sometime ago there was a post here regarding Insuring ice even if it was purchased WITHOUT Bill/Warranty etc.
I have searched but cant seem to dig it up.. if Im not mistaken it might have been Evo6 or one of the mumbai/pune members who provided the info.

My friend who lost his ICE from his Zen last year has invested in a decent system again and wants to minimize the loss if it happens again.

[navin]

I have always had my ICE insured. I can remember in 1989 when I insured my ICE for 1L. The valuer would not belive it till I shwoed him the bills.

[esteem_lover]

Is the insurance only against theft/damage ?

[s0uljah]

Originally Posted by navin

The valuer would not belive it till I shwoed him the bills.

Yeah your policy must have been a legend in the company

Originally Posted by esteem_lover

Is the insurance only against theft/damage ?

Yeah thats what I want to find out.. but pertaining to grey market stuff or parallel imports.

[Sam Kapasi]

I have heard of a similar situation. Somebody I know insured a 80,000/- rupees system,as part of the car insurance. After paying the premium for 3 years, one day his sytem was stolen.

He was paid a pittance for it. They make a little noise when accepting the policy and a lot of it, when the time comes to pay up. Be careful.

[s0uljah]

Originally Posted by Sam Kapasi

He was paid a pittance for it. They make a little noise when accepting the policy and a lot of it, when the time comes to pay up. Be careful.

Hmmm, most definately sounds like the norm !!! Damn leeches.

Still the question remains how one goes about insuring the aftermarket ICE...

[manikjeet]

the ice in my car is insured but everything is with B/W

[s0uljah]

Originally Posted by manikjeet

the ice in my car is insured but everything is with B/W

Good !! Thats the way

[iraghava]

In 2003 I tried insuring my then new laptop which I had bought from Dubai. But the companies wouldn't do so without a Bill for the same, hence it could not be insured and as my brilliant luck would have it, the laptop got stolen 3 months later in Switzerland.


I had also insured my ICE for the 1st year when I bought my car but not after that & anyways everything was bought with B&W.

[navin]

The insurance companies depreciate ICE very fast so please read the fine print.

There is also a thread on this forum for Keeping your ICE secure. Please read that too. Gunbir I think penned most of it.

That said most of us are plain lucky not to have our ICE stolen.

I am old now but 20-25 years ago I could Slim JIm my way into most cars and disable the electronic car theft systems (even ones with hidden abtteries in about 30 seconds). No I was not a car thief but worked with a Taiwanese company called Winner Internatioal (make of "The Club") adn we need to know this to demo that The Club was about as safe as you could keep you car.

BTW The Club and it's cousins could also be easily disabled (in that era). A can of Freon Spray and a Hammer worked well. Today they do NOT surface harden this devices so you would need a saw and 15 mins of sawing.

[F50]

Originally Posted by Sam Kapasi

I have heard of a similar situation. Somebody I know insured a 80,000/- rupees system,as part of the car insurance. After paying the premium for 3 years, one day his sytem was stolen.

He was paid a pittance for it. They make a little noise when accepting the policy and a lot of it, when the time comes to pay up. Be careful.

Yes, it can be insured without B/W.
Get it assessed by a surveyor, he'll fix a value of the whole system.

But at the time of claim, the depreciated value is paid. And as all of you know the how the rate decreases and fast.

Sam, this is where your friend lost. Obviously, no company wants to give away money.

[hydrashok]

Originally Posted by navin

I am old now but 20-25 years ago I could Slim JIm my way into most cars and disable the electronic car theft systems (even ones with hidden abtteries in about 30 seconds)....

Wow! Navin, is there something you haven't done? We get to see newer and newer sides of your experiences every once in a while. Been there, done that would be a really nice signature for you

[EVO6]

I have had my systems insured since i can remember.. To amounts of 2-3 lakhs.. There is no issue about the bill part of it and New india assurance has even paid me 1.5 lacs for my stolen ICE.. Which was insured at 2 lacs which was stolen after 2 years...
Cheersssss

[s0uljah]

Originally Posted by s0uljah

if Im not mistaken it might have been Evo6 or one of the mumbai/pune members who provided the info.

Originally Posted by EVO6

I have had my systems insured since i can remember.. To amounts of 2-3 lakhs.. There is no issue about the bill part of it and New india assurance has even paid me 1.5 lacs for my stolen ICE.. Which was insured at 2 lacs which was stolen after 2 years...
Cheersssss

Was New India insurance your vehicle insurers as well? Or you had an independant policy as the ice amount to a lot of $$$$ (2L+) phew!

Originally Posted by F50

Yes, it can be insured without B/W.
Get it assessed by a surveyor, he'll fix a value of the whole system.
But at the time of claim, depreciated value is paid. rate decreases and fast.

Thanks guys.

[EVO6]

New india was my car insurer as well.. and over and above that this was done as accessories on the same policy with the figures i am telling u ...