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Old 31st January 2014, 20:12   #136
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Default Re: 0% Depreciation Insurance - It really worked for me!

Can someone tell me if the zero depreciation (bumper to bumper 100% coverage) policy is not applicable for cars that more than 3 years old?

I have my zero dep policy with ICICI and its due for renewal in a weeks time. They claim that for cars more than 3years old (my car just completed 3years in mid of Jan) they do not offer zero dep policies.

Is this true? Any advice will be of great help.

I have an i20, fyi.

Last edited by flyingkolors : 31st January 2014 at 20:35.
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Old 1st February 2014, 17:08   #137
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Can someone tell me if the zero depreciation (bumper to bumper 100% coverage) policy is not applicable for cars that more than 3 years old?
True with some Insurance co who dont offer the zero dep add on for cars more than 3 yrs old. There are however some Insurance co such as Future Generali, Bharati Axa who offer zero dep for cars till 5 yrs of ownership. Just check if these have a cashless tie up with Hyundai workshops?
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Old 2nd February 2014, 21:24   #138
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Default Re: 0% Depreciation Insurance - It really worked for me!

Figured a few things so thought I'd share.

Bhakti Axa is one of the few companies that offer zero depreciation up to 5 years from the year of registration. Others like Bajaj Allianz, HDFC Ergo, ICICI offer this add on only for 3 years.

Bajaj Allianz seems to be the most "feature rich" wherein they offer add on like "Zero Depreciation" and "Engine Protection" if you hit a stone or something that causes damage to the engine or other incidental damages to the engine due to water ingress or even damage to the gearbox.

Lastly, not all insurance companies offer cashless facility for all brands of cars. For example, I have HDFC Ergo for a year now and back when I insured with them, Fiat cars were serviced at Tata service centers. However, now Fiat has its own stand alone service centers and HDFC Ergo does not cover them.

The premium for comprehensive or zero depreciation policies is more or less the same for my 2 year old Punto and the differentiators are cashless facility, maximum features and brand perception. I personally don't view Bharti Axa as a reliable brand but probably because I haven't had a good experience with other Bharti brands so far.
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Old 3rd February 2014, 08:35   #139
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Originally Posted by Pedaltothefloor View Post
Bhakti Axa is one of the few companies that offer zero depreciation up to 5 years from the year of registration. Others like Bajaj Allianz, HDFC Ergo, ICICI offer this add on only for 3 years.
Thats mainly to attract new customers. Throw the options of zero dep for 5 yrs and add unlimited claims and you will have people queing to become customers. The oldies however have realized that providing a good customer service is the key to retain the existing customers and believe the word to mouth will fetch them new customers. Each of them have their own marketing strategies.
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Old 4th February 2014, 17:08   #140
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Default Re: 0% Depreciation Insurance - It really worked for me!

Is there any insurer offering Zero Dep Insurance on two wheelers?
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Old 5th February 2014, 08:46   #141
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Is there any insurer offering Zero Dep Insurance on two wheelers?
Yes, Reliance offers Zero dep as addon on the comprehensive policy for the two wheelers but valid for the first two years of the 2 wheelr purchase. More details in their website.
https://www.reliancegeneral.co.in/in...reciation.aspx
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Old 26th February 2014, 15:27   #142
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Default Re: 0% Depreciation Insurance - It really worked for me!

Hi all,

So i went through the thread (ok i lied a bit-i skipped 3/4 pages in betweem :P ) and am now soliciting advice for the Brio Automatic VX that i am planning to purchase in the next 2/3 days- i am being offered extended warranty for the car as part of package. I will be getting no-depreciation cover as well. Do i need to get anything more or is this enough ?

Btw i will be using it to drive to office and 60% of my travel will be in bumper to bumper traffic with a higher risk of scratches (daily hazard of indian roads !)
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Old 26th February 2014, 16:44   #143
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Originally Posted by Rollingwheels26 View Post
i am being offered extended warranty for the car as part of package. I will be getting no-depreciation cover as well. Do i need to get anything more or is this enough ?
By no-depreciation cover you meant zero depreciation add on along with the normal insurance policy right? Is the Insurance being offered a sa freebie? Then it might be worthwhile to check with the dealer if the zero dep is offered as a part of bundled package which might have additional add on covers too. If not then get the dealer to provide you NCB protection add on too along with the zero dep.

If you have an option of getting a cash discount instead of Insurance, then jump to it. you can buy Insurance on your own from outside at a much lesser price.
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Old 27th February 2014, 02:23   #144
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Default Re: 0% Depreciation Insurance - It really worked for me!

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By no-depreciation cover you meant zero depreciation add on along with the normal insurance policy right?
Yup !

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Originally Posted by ghodlur View Post
Is the Insurance being offered a sa freebie?
Not really. Have to pay around 10k for it. Am attaching a photo of the price break down.

0% Depreciation Insurance - It really worked for me!-wp_20140227_001.jpg

The columns (in case their names are not clearly visible are, from L to R)-
Exshowroom; Insurance; Registeration & Incidentals; Extended warranty and 4 years RSA; On road price; Add on insurance

Is the last column- 'add on insurance' the 'addition add on cover' that you mentioned ?
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Old 27th February 2014, 08:26   #145
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Originally Posted by Rollingwheels26 View Post
Not really. Have to pay around 10k for it. Am attaching a photo of the price break down.
Is the last column- 'add on insurance' the 'addition add on cover' that you mentioned ?
The pricelist shows Insurance around 17K and add to that the add on cover of 4K making the total Insurance cost around 21K. Is that correct? So are you paying 10K out of this amount? I am confused. Pls elaborate.

Have you tried checking whether the online Insurance quotes match the pricing by the dealer?

The last column does talk about the add on cover I mentioned.
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Old 27th February 2014, 14:18   #146
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by ghodlur View Post
The pricelist shows Insurance around 17K and add to that the add on cover of 4K making the total Insurance cost around 21K. Is that correct? So are you paying 10K out of this amount? I am confused. Pls elaborate..
Sorry i must have typed the 10k by mistake. Its 21k.

Quote:
Have you tried checking whether the online Insurance quotes match the pricing by the dealer?.
Nope but now that you mentioned i will do so !!

Quote:
The last column does talk about the add on cover I mentioned.
ok great. At the risk of sounding like a complete doofus could you explain the benefit of this extra cover ? I am guessing it is akin to what Sam mentioned in his 2nd post on the first page

Quote:
Absolutely correct. My insurance consultant had taken an insurance on the insurance.

The endorsements on the insurance included
  • TA01 - Reibursement of all depreciation
  • TA02 - Daily Allowance
  • TA09 - Loss of personal belongings
  • TA10 - Emergency transport and hotel expenses
  • (TA15) - Key replacement
What did all of this mean to me?
is this the 'insurance on insurance' mentioned above ?
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Old 24th March 2014, 17:27   #147
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Default Re: 0% Depreciation Insurance - It really worked for me!

The add-on cover is for 0% depreciation only. What SAM had mentioned initially are more add-on covers like hotel stay, lost key and car rental allowance for 10 days which costs more premium per year.

I own a Hyundai Verna Fluidic insured with Bharti Axa and will be completing 2 years this June. The first year insurance cost me 30k for zero depreciation. Normal one was 25-26k. The 2nd year insurance cost me 25k including NCB as I did not take any claims. Had minor damages which I got repaired myself. Thinking of renewing it with Bharti again this year.
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Old 30th May 2014, 12:22   #148
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by ghodlur View Post
Thats mainly to attract new customers. Throw the options of zero dep for 5 yrs and add unlimited claims and you will have people queing to become customers. The oldies however have realized that providing a good customer service is the key to retain the existing customers and believe the word to mouth will fetch them new customers. Each of them have their own marketing strategies.
My car (Ford Figo) insured with ICICI Lombard with zero depreciation policy. Next month the car completes 3 years and ICICI will not provide zero depreciation polity. I am thinking about moving Bharti Axa which is providing zero depriciation policy upto 5 years. Any feedback on how good Bharti Axa? My experience with ICICI Lombard is good where i had a claim in the second year .
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Old 30th May 2014, 13:17   #149
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Any feedback on how good Bharti Axa?
Bharati Axa is a relatively new player in Auto insurance. Confirm whether the workshop where you service does have a cashless tie up and enquire with the workshop if there's has been any claims lodged with Bharati Axa. If so hows the response? Based on that you can think of opting for the Insurance co.
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Old 31st May 2014, 22:02   #150
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Default Re: 0% Depreciation Insurance - It really worked for me!

Hi my Altis met with a little accident yesterday night and the car is in the workshop now. I have a 0% dep insurance policy from Tata Aig. Got a few queries about it and hence posting it here too:

Quote:
According to the SA, the radiator and condenser might have also taken a hit and they will check it and confirm. Now I have a few queries. I have a 0% dep insurance and I was under the impression that I have to pay only for claim processing charges. But the SA told me that I will also have to bear consumables like any oil etc that might be needed and clips and locks for the bumper. They apparently need around 25-30 of those and each one costs around Rs 125. I am sure there will be many other miscellaneous nuts and bolts. Is he correct in saying this or I am being taken for a ride? Shouldn't 0% dep insurance policy cover all that stuff too?
Also the SA told me that there is a possibilty that the insurance company ( since Toyota doesn't have a partnership with them) might not agree to bear the full cost. The example he gave me was that for instance the bumper costs 7k. The insurance company might say that the price is not reasonable and they will only pay 6k for it and the rest will have to be borne by me. Is this possible? Please advice me on how to proceed.


Following is the estimate drawn by the SA
0% Depreciation Insurance - It really worked for me!-img_20140531_154904.jpg
0% Depreciation Insurance - It really worked for me!-img_20140531_154918.jpg
Mods please allow the double posts as the query regarding insurance might be better answered in this thread than my ownership thread.

Last edited by drmohitg : 31st May 2014 at 22:09.
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