Honda launches 'Honda Assure' Insurance Program

[rr_zen]

Originally Posted by rjvora_2000

First of all thank you very much for putting the information for my reference.

Frankly speaking the only difference which I could find out in this is of consumables which are covered by them. Unfortunately there is not other major difference I could see in the list. I think there must be some other information which is not listed in your post.

This is all that the dealer gave me. In addition, I was told that Honda Assure covers Tyres and Alloys which the traditional insurance does not. Am not sure if this is true.

One one hand the thought is to go for regular insurance for saving money, while on the other hand I have my own apprehensions as to what sort of treatment will be meted out to me in future in case of a claim where I have not opted for Honda Assure.

[rjvora_2000]

Originally Posted by hrmanju1

Well, to clear some air

Pardon my ignorance - one thing which i did not understand is "consumables". What is a consumable in the context "Consumable to be given by insurance companies."

Eg. if you hit someone from the front and your radiator is broken down and all the coolant went on the road and you claim insurance then coolant will not be paid. Like wise your break oil, engine oil etc. is not payable under the insurance.

Originally Posted by rr_zen

This is all that the dealer gave me. In addition, I was told that Honda Assure covers Tyres and Alloys which the traditional insurance does not. Am not sure if this is true.

One one hand the thought is to go for regular insurance for saving money, while on the other hand I have my own apprehensions as to what sort of treatment will be meted out to me in future in case of a claim where I have not opted for Honda Assure.

If Alloys and tubeless tyres are part of your basic car then it is paid by any insurer.

Don't worry for the feature treatment from the service station that will be good only, it is just that they use this sales trick for selling there own product.

[rr_zen]

Originally Posted by rjvora_2000

If Alloys and tubeless tyres are part of your basic car then it is paid by any insurer.

This is precisely what my insurance agent told me too.

Originally Posted by rjvora_2000

Don't worry for the feature treatment from the service station that will be good only, it is just that they use this sales trick for selling there own product.

Would you then suggest me to go with my regular insurance provider and show Honda Assurance the door? By doing so, I might as well save a couple of thousands which I can spend on accessories.

[hrmanju1]

rr_zen, my dealer is putting more confusion to the mix.

I had this discussion of

Honda Assure = 27k (appx)
BA = 21k (appx) - This was dealer in house BA quote.

When asked the difference, dealer at a later point frankly admitted that they will make money on giving us the Honda Assure and for the difference of 6K, they will give me 5K worth of FREE accessories. (I already have 10K worth of FREE accessories to buy from them. They wont budge on cash reduction)

Now, finding VFM accessories in Honda is like needle in the haystack. Everything is so overpriced to outside world.

1) Reverse Sensors
2) Sun Films
3) Floor/Trunk Mats

All of the above brings me (showroom price) to around 13K. Which still leaves me 2K if i go with Honda Assure.

So keeping this in mind, what do you folks recommend?

[iTNerd]

Originally Posted by hrmanju1

rr_zen, my dealer is putting more confusion to the mix.

I had this discussion of

Honda Assure = 27k (appx)
BA = 21k (appx) - This was dealer in house BA quote.

When asked the difference, dealer at a later point frankly admitted that they will make money on giving us the Honda Assure and for the difference of 6K, they will give me 5K worth of FREE accessories. (I already have 10K worth of FREE accessories to buy from them. They wont budge on cash reduction)

Now, finding VFM accessories in Honda is like needle in the haystack. Everything is so overpriced to outside world.

1) Reverse Sensors
2) Sun Films
3) Floor/Trunk Mats

All of the above brings me (showroom price) to around 13K. Which still leaves me 2K if i go with Honda Assure.

So keeping this in mind, what do you folks recommend?

27K for Honda Assure for a new Honda Civic is a steal!

[Cyborg]

+1 to iTnerd - 27 k is the quote I got from New India Assurance Co. in Mumbai for my Civic V MT as well. This was in Nov 2009.
If you are getting Honda Assure for 27 K, go for it.
Cheers

[rr_zen]

I guess the car in question here is a City(the one hrmanju is buying) and not a Civic.

I had a look at the so called Honda Genuine Accessories and they failed to impress me, esp the reverse sensor at 22K which is a rip-off. The best part is that the aftermarket one showed by the dealer had better features with display in the RVM and costed only 4.5K. The side step garnish too is pretty expensive at 10.5K. Am planning to get these outside. Any suggestions where I can source these in Chennai?

[shuvc]

Slightly OT.

Any idea what the insurance figures are for other cars in the same segment?

Say, Altis, Laura, Cruze .. Cedia I know is around 25K (dealer quote)

[kalyan_hyd]

Originally Posted by shuvc

Slightly OT.

Any idea what the insurance figures are for other cars in the same segment?

Say, Altis, Laura, Cruze .. Cedia I know is around 25K (dealer quote)

Quotations from ICICI Lombard obtained online (Source: https://24x7.icicilombard.com/icici_...it=&channel=):

Toyota Corolla Altis GL(Ex-showroom price: Rs 11,48,580.00) - Rs 26,865.00

Laura Elegance 1.9 PD(Ex-showroom price: Rs 14,60,389.00) - Rs 33,372.00

Chevrolet Cruze LTZ(Ex-showroom price: Rs 12,44,955.00) - Rs 29,821.00

Mitsubishi Cedia BS-3 Select(Ex-showroom price: Rs 8,75,000.00) - Rs 24,973.00

Honda City 1.5 V(Ex-showroom price: Rs 9,35,000.00) - Rs 19,351.00

(*All cars considered in Hyderabad)

[shuvc]

Originally Posted by kalyan_hyd

Quotations from ICICI Lombard obtained online (Source: https://24x7.icicilombard.com/icici_...it=&channel=):

Toyota Corolla Altis GL(Ex-showroom price: Rs 11,48,580.00) - Rs 26,865.00

Laura Elegance 1.9 PD(Ex-showroom price: Rs 14,60,389.00) - Rs 33,372.00

Chevrolet Cruze LTZ(Ex-showroom price: Rs 12,44,955.00) - Rs 29,821.00

Mitsubishi Cedia BS-3 Select(Ex-showroom price: Rs 8,75,000.00) - Rs 24,973.00

Honda City 1.5 V(Ex-showroom price: Rs 9,35,000.00) - Rs 19,351.00

(*All cars considered in Hyderabad)

Wow.
So Honda is charging 48-50K for Honda Assure and then showing a discount of 9-10K to bring it down to 39-40K !! Which is still 5-6K higher that the Laura.
Wow again.

[csentil]

It's not only Honda but all showroom insurance values will be on the higher side. If you take it outside you will save 15% to 20% easily. Point is the usual tricks pulled by the dealer. "Sir, you won't get cashless", "Sir, you won't get 100% insurance"....

[rjvora_2000]

Originally Posted by kalyan_hyd

Quotations from ICICI Lombard obtained online

For reference this quotes are fine, but please don't trust them and don't do business with them.

Lot of team-bhpins have a bad claim experience with them.

[kalyan_hyd]

Originally Posted by rjvora_2000

For reference this quotes are fine, but please don't trust them and don't do business with them.

Lot of team-bhpins have a bad claim experience with them.

I have owned a Santro before my current ANHC and had to claim thrice from ICICI Lombard in the total ownership period of 4 1/2 years. Personally, I never faced any issues.

But, yes, I have heard negative things about ICICI Lombard in the past. Perhaps, when I renew my policy the coming year, I shall change my service provider.

Which insurance company do you suggest to be the best in your experience?

[rjvora_2000]

Originally Posted by kalyan_hyd

I have owned a Santro before my current ANHC and had to claim thrice from ICICI Lombard in the total ownership period of 4 1/2 years. Personally, I never faced any issues.

But, yes, I have heard negative things about ICICI Lombard in the past. Perhaps, when I renew my policy the coming year, I shall change my service provider.

Which insurance company do you suggest to be the best in your experience?

There are few good companies which are doing good in claims like Bajaj which is the best in the list.

Chola, Tata etc.

[mailmishra]

Hi All,

I am kind of re-opening this thread, yesterday I got quote from Honda Dealer which has a viz a viz comparison of both Honda Assure and Zero Depreciation by ICICI. It includes the even the premium too. I am not too sure which one to go for. Can some one let me know pros/cons of either of them, if you have bought any..

My question is : Which one makes sense Honda Assure or 0% Deprciation from ICICI or just simply go for regular comprehensive insurance?

With Honda Assure IDV for your veh. is 728395 /- Premium payable is 17578 /- ( with 20% No Claim Bonus ) for Bajaj Allianz.
With ICICI Lombard for 0% dept Policy IDV is 646000/- premium amount is 16747/- ICICI for Comprehensive on same IDV premium payable is 12044/-

Features of Honda Assure :-

In this policy we have cashless tie up with Bajaj Allianz, Iffco Tokio, National Ins, Royal Sundaram & Universal Sampo.

With Honda Assure you will get cashless claim settlement at all 106 Honda Dealers in India, faster claim settlement, instant policy & endorsements. No survey required for windshield, you can register your claim online. At claim time consumables ( Engine Oil, Coolent, Battery water, Air filter etc.) are also payable by insurance co.

This is Honda Assure policy and also having added on benefits to it. In case of a claim the most affected plastic parts ,like head lamps and wiring harness are covered in normal depreciation (other insurance companies are covering the same under plastic depreciation 50%) and lot more.
Consumables and other sundry items are also payable with the insurance.
Cost of consumables, fasterners etc that need to be replaced during repair will be allowed if such replacement is necessary.
All electrical parts like ECM, various sensors, motors, actuators,wiring harness, headlight assembly etc. are to be treated as "other parts" where the depreciation depends upon the age of the vehicle.
No salvage value will be deducted from the claim amount.
It covered under riots, theft, buglary includes third party coverage also upto Rs. 750,000/- it includes paid driver owner - driver & for unnamed occupants.
We are well aware that the agents / other insurance companies are offering discounts up to 50%. We are also having tie ups with some of them. But being a prestigious Honda user Honda Assure will be more suitable for you.


Please find features of 0% Depriciation. ( ICICI Lombard )
The policy covers the following:
CASHLESS TRANSACTION
We have a cashless tie up i.e if anything happens to your vehicle
we would be making direct payment to the garage. And the surveying and
entire procedure of claim settlement takes place within a period of 3 days.
Towing from the spot of breakdown is free.
COVERAGE
We Cover all the electrical accessories of your vehicle, seat cover and fog
light coming along with the car without charging premium for the same. The
insurance policy would also cover loss or damage to the vehicle due to
natural or man-made calamities, personal as well as third party accidental
damage.
Features and Coverages
Zero Depreciation
In consideration of the payment of an additional premium by the Insured, the
Company hereby undertakes to deduct no amounts for depreciation in case of
parts replaced on account of damage to the vehicle insured and/or to its
accessories, arising out of any peril as covered under the Policy..
Terms and Condition
- The product can only be offered to a customer purchasing ICICI Lombard
Comprehensive Motor Insurance Policy
-Vehicle should only be used for private purpose.(i.e. no commercial usage)
- The product can only be offered to vehicles which are aged less than 3 years
- This product is available only at time of purchase of policy & cannot be
incorporated in the middle of the year
-Claim amount confirmation issued by the Insurance Company on your own
damage claim will form the basis for calculation of the above compensation
-Period of validity of Zero Depreciation is identical to period of regular
insurance policy
- Normal wear and tear not covered
Consumables
In consideration of the payment of additional premium by the insured, the
company hereby undertakes to cover consumable items i.e. those articles or
substances which have specific uses and when applied to their respective
uses are either consumed totally or are rendered unfit for continuous and
permanent use. Such Consumable Items will include nut and bolt, screw,
washers, grease, lubricants clip, ac gas, bearings, distilled water, engine
oil, oil filter, fuel filter, break oil and the like.
For Premium & Super Premium Cars even tyres are covered
Thus in case of claim, this clause is always beneficial to the customer.


Please see the attchment for break up of Honda Assure & 0% dept Policy.