Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 5th August 2011, 15:39   #1
BHPian
 
krazyking's Avatar
 
Join Date: Feb 2009
Location: Mumbai/Hong Kong
Posts: 329
Thanked: 2 Times
Default Insurance for BMW 5-series

Hi all,

Had some questions that I needed advice on.

So I own a BMW 5 series, and for the past 2 years I've been using TATA AIG Secure insurance for the car, which has a very high premium. Last year I paid about 84k for it.

However, the situation is that the car is barely used, 4 months at max throughout the whole year and I don't see the point in having such an expensive insurance policy. Furthermore, the vehicle has scratches on the front bumper of the car which can be claimed through insurance but my dad doesn't want to do it because it will push our premium up. So I don't see the point in having such a hefty insurance policy where we don't even make any claims, unless it'll be an accident.

I'm welcome to any suggestions or advice for the same. Thanks.
krazyking is offline   Reply With Quote
Old 5th August 2011, 15:47   #2
BHPian
 
SushilBajpai's Avatar
 
Join Date: Oct 2010
Location: Pune/Lasham
Posts: 247
Thanked: 116 Times
Default re: Insurance for BMW 5-series

Quote:
Originally Posted by krazyking View Post
Hi all,

Had some questions that I needed advice on.

So I own a BMW 5 series, and for the past 2 years I've been using TATA AIG Secure insurance for the car, which has a very high premium. Last year I paid about 84k for it.

However, the situation is that the car is barely used, 4 months at max throughout the whole year and I don't see the point in having such an expensive insurance policy. Furthermore, the vehicle has scratches on the front bumper of the car which can be claimed through insurance but my dad doesn't want to do it because it will push our premium up. So I don't see the point in having such a hefty insurance policy where we don't even make any claims, unless it'll be an accident.

I'm welcome to any suggestions or advice for the same. Thanks.
You haven't mentioned what kind of insurance is this. Is it a no depreciation insurance? In which case it is not at all expensive for your car.

BMWs are expensive to buy and maintain - even more so to get repaired in the event of an accident. Generally speaking it is a good idea to take a comprehensive insurance cover for at least first 3-4 years of cars life. After that the depreciation is so high that many people transfer the old policy to a new car, and downscale the insurance to minimum mandatory.
SushilBajpai is offline   Reply With Quote
Old 5th August 2011, 21:28   #3
Senior - BHPian
 
Sn1p3r's Avatar
 
Join Date: Jul 2009
Location: Germany
Posts: 1,019
Thanked: 224 Times
Default re: Insurance for BMW 5-series

^excuse me but I thought BMW forayed into insurance sector. I am stupid

I would suggest you continue with the Zero depreciation insurance but use the car more often after all its a BMW. It takes a fraction of second to make you realize that you did the right thing in taking the right insurance so its good that you never had to test it.

I agree with SushilBajpai's statement. Enjoy!
Sn1p3r is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
BMW 3 Series vs 3 Series GT vs Volvo S60 vs Audi A4 adi_petrolhead Luxury, Imports & Niche 86 2nd February 2016 10:25
BMW India drops 1-Series Petrol, 328i, 6-Series coupe from 2015 price list Aditya The Indian Car Scene 15 30th January 2015 21:06
BMW 3-series and 5-series - next generation? InfinityG37_fan Luxury, Imports & Niche 48 21st February 2010 18:35
BMW launches new 7 series in BMW studio, Janpath, Delhi sidindica The Indian Car Scene 88 9th March 2009 01:03
SCOOP! BMW Spec sheet for India. 3 series & 5 series GTO The Indian Car Scene 48 4th September 2007 13:25


All times are GMT +5.5. The time now is 01:09.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks