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Old 27th October 2014, 01:01   #166
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Originally Posted by Captain Slow View Post
How much was the premium and what was IDV? I am hunting around for insurance provider for the Civic.

The premium has been constant since the 2nd year at 30k with 50% NCB (had transferred the 50% NCB from my previous car to this one)

IDV i think is around 11 lacs. Last year the IDV was around 13 lacs
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Old 12th November 2014, 12:51   #167
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Default Re: 0% Depreciation Insurance - File Charges

I have given my SX4 for a rear bumper paint/change. I have a 0 dep policy. I was under the impression the file charges are about Rs 1,100 but Maruti SA said, for bigger cars its 2,000. Can somebody pls. confirm that? My policy is with TATA AIG
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Old 12th November 2014, 13:11   #168
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Originally Posted by amitpunjani View Post
I have given my SX4 for a rear bumper paint/change. I have a 0 dep policy. I was under the impression the file charges are about Rs 1,100 but Maruti SA said, for bigger cars its 2,000. Can somebody pls. confirm that? My policy is with TATA AIG
Yes, thats correct. For Cars with engine cc > 1500 cc, the compulsory deductible is Rs 2000/-. Refer to the thread on the forum.

http://www.team-bhp.com/forum/indian...le-amount.html (IRDA revises Compulsory Deductible Amount)

Fro Royal Sundaram website.
Quote:
During a Claim, certain minimum amount is deducted from the Insured. The amount deductible is given below:
For Private Cars up to 1500 CC, it is Rs 1000
For Private Cars above 1500 CC, it is Rs 2000
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Old 12th November 2014, 13:31   #169
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Default Re: 0% Depreciation Insurance - File Charges

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Originally Posted by ghodlur View Post
Yes, thats correct. For Cars with engine cc > 1500 cc, the compulsory deductible is Rs 2000/-. Refer to the thread on the forum.

http://www.team-bhp.com/forum/indian...le-amount.html (IRDA revises Compulsory Deductible Amount)

Fro Royal Sundaram website.
Appreciate your prompt reply!

My Sx4 is 1248 cc (National diesel engine :-) ). Will this fall in this category?

BR

Amit
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Old 12th November 2014, 13:33   #170
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Red face Re: 0% Depreciation Insurance - File Charges

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Originally Posted by amitpunjani View Post
My Sx4 is 1248 cc (National diesel engine :-) ). Will this fall in this category?
Then the deductible amount should be Rs 1000/-. The SA needs to be educated on this. I was assuming that yours is a 1.6 l petrol SX4.
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Old 12th November 2014, 13:37   #171
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Default Re: 0% Depreciation Insurance - File Charges

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Originally Posted by ghodlur View Post
Then the deductible amount should be Rs 1000/-. The SA needs to be educated on this. I was assuming that yours is a 1.6 l petrol SX4.
Exactly this is what I said to SA. But he said Baleno, Sx4, Vitara will be charged upto 2000/-, to which I was really surprised. Is there any official circular or website I can refer too
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Old 12th November 2014, 14:37   #172
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by speedmiester View Post
Always shop around for insurance, don't feel bad to change your existing insurer as companies offer better price for new customers.
I second you Speedmiester.

I have Bajaj Allianz for the first year of my car Skoda Rapid. Second year with ICICI Lombard, Third year TATA AIG.

Now I am in the market again to renew (existing policy is set to expire in December first week). I do not have used any of their services in my last 3 years of ownership(read no claims till date)
I always compare the quotations from different insurance companies and decide on the following points
1. Least Policy premium
2. Highest possible IDV
3. Cashless claim facility
4. Decently reputed company

Folks, please feel free to add any points if I miss any
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Old 30th December 2014, 19:42   #173
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Default Re: 0% Depreciation Insurance - It really worked for me!

Hi guys, I have a one year old BMW F30 320d, my insurance is up for renewal in the next few days and I'm currently with Bajaj Allianz + Secure. I have had a fantastic experience with them as a big claim was settled without any sort of hassles but coz of the high premium I wanted to switch to a regular zero dep + consumables + RSA + modifications coverage policy than secure.

Wanted to stick with Bajaj but as per the dealer they cannot issue Bajaj Allianz zero dep policy leaving out the secure as per their policy so a friend recommended me the Tata AIG Pearl plan so can anybody please recommend whether it'd be a wise move or should I pay extra and stick with BA + Secure?

I have had some sort of claims on almost all the Bimmers in my garage () and the one which was covered by National insurance policy was full of hassles, as in the door was slightly hit and they wanted to go for repair rather than entire door replacement so this is something I want to avoid in this case... Suggestions, please?
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Old 8th January 2015, 09:12   #174
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Default Re: 0% Depreciation Insurance - It really worked for me!

Guys,

I have zero dep policy from Future-Generalli for our Duster.
Now, I have just given the car for repair/replace work of Fender+Bumper (front-left crawling speed deep scratches).
This would be first claim in 1.5 years of ownership.

My question is:
Should the next policy renewal be for zero dep or regular insurance policy?
What would be the typical difference between regular policy & zero dep (post claim i.e. no NCB bonus deductible)

Thanks,

Ace.
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Old 8th January 2015, 10:00   #175
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by AdiSinghV12 View Post
Wanted to stick with Bajaj but as per the dealer they cannot issue Bajaj Allianz zero dep policy leaving out the secure as per their policy so a friend recommended me the Tata AIG Pearl plan so can anybody please recommend whether it'd be a wise move or should I pay extra and stick with BA + Secure?
Buying an insurance is a very tricky business these days. I recently renewed the insurance for my 320d and it was a very tedious process.

1. If you can afford then go for Bajaj + Secure combination. This is the most transparent package but the cost will reach close to 1.2L.

2. Tata Aig offers competitive rates but do remember that they don't cover 100% for hydrostatic lock. Customer has to bear 10% of the cost of the same. There are few other hidden points.

3. Iffco Tokio- There plans have been discussed to a great extent off late regarding BMWs. But there is a huge confusion. I was interacting with 3 agents and everyone had a different story. According to most people, Iffco does not offer hydrostatic lock coverage at all. But according to one agent it did. Finally I talked to a BHPian who used to be a former emplyee of Iffco and he assured me that the engine cover is not provided expect for brand new cars in there first year. But to the contrary and to make matters more confusing, BMW dealership confirmed that they have got Iffco to settle claims for hydrostatic lock even for older cars and that it does cover this. I stayed clear of Iffco due to all this confusion.

4. Bharti Axa: There claim settlement process is apparently not very customer friendly according to all 3 agents. Also they don't offer any tyre cover.

5. ICICI: My first year insurance was done by them and I took a claim for rim replacement and front windshield replacement. The process was super smooth and I would recommend you to take a look at them.

6. Future Generali: I finally went with them as there quotes were the lowest and the BMW dealership confirmed that they cover hydrostatic lock etc.

So all in all, please spend some time on this process and understand and counter check that the policy you are buying is actually the best plan. There are no clear cut listed plans. Do pay special attention to points like engine lock, consumables, tyre and rim replacement. Also as per my understanding do not worry much about Road site assistance for the second year as BMW's RSA cover is valid for first 2 years of ownership.
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Old 8th January 2015, 11:10   #176
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Default Re: 0% Depreciation Insurance - It really worked for me!

Quote:
Originally Posted by drmohitg View Post
Buying an insurance is a very tricky business these days. I recently renewed the insurance for my 320d and it was a very tedious process.

1. If you can afford then go for Bajaj + Secure combination. This is the most transparent package but the cost will reach close to 1.2L.

2. Tata Aig offers competitive rates but do remember that they don't cover 100% for hydrostatic lock. Customer has to bear 10% of the cost of the same. There are few other hidden points.

3. Iffco Tokio- There plans have been discussed to a great extent off late regarding BMWs. But there is a huge confusion. I was interacting with 3 agents and everyone had a different story. According to most people, Iffco does not offer hydrostatic lock coverage at all. But according to one agent it did. Finally I talked to a BHPian who used to be a former emplyee of Iffco and he assured me that the engine cover is not provided expect for brand new cars in there first year. But to the contrary and to make matters more confusing, BMW dealership confirmed that they have got Iffco to settle claims for hydrostatic lock even for older cars and that it does cover this. I stayed clear of Iffco due to all this confusion.

4. Bharti Axa: There claim settlement process is apparently not very customer friendly according to all 3 agents. Also they don't offer any tyre cover.

5. ICICI: My first year insurance was done by them and I took a claim for rim replacement and front windshield replacement. The process was super smooth and I would recommend you to take a look at them.

6. Future Generali: I finally went with them as there quotes were the lowest and the BMW dealership confirmed that they cover hydrostatic lock etc.

So all in all, please spend some time on this process and understand and counter check that the policy you are buying is actually the best plan. There are no clear cut listed plans. Do pay special attention to points like engine lock, consumables, tyre and rim replacement. Also as per my understanding do not worry much about Road site assistance for the second year as BMW's RSA cover is valid for first 2 years of ownership.
Thanks for the detailed explanation, really appreciate it. I had similar choices but shortlisted TATA AIG, Future Generali and Bajaj Allianz + Secure. The FG one was the cheapest, followed by Tata and Bajaj + Secure. I had almost written the cheque in favour of Future Generali coz they had almost everything that Secure Ultimate had in their "Navnit Plan" for a good 40k cheaper price and Navnit Motors assured me that the claims will be passed without any hassles (of course if they are genuine). At the last moment I thought of checking the scenario in Delhi because the car was going to be used there for a good 3-4 months this year, called Deutsche Motoren and as soon as I mentioned Future Generali they started with "sir, they won't cover the entire labour charges", "we don't have cashless facility", "they won't pass big claims easily" etc. I was a little disappointed. They too said that they have excellent rapport with Bajaj and ICICI and the claim settlement would be a piece of cake (probably something that you experienced during your claim for alloys and tires). So, I ended up speaking to a senior person at Navnit and insisted them on issuing a Bajaj Allianz policy with all the coverage and minutes later I got a call that they can offer me something known as Bajaj Allianz Drive Assure Economy Plus which has everything from zero dep, comsumables, hydrostatic lock to RSA and even my M-Kit.. The quote I got was a good 25k cheaper than Secure so without wasting more time I went ahead with it and got it done on the last day of the policy. Tata AIG was another 15k cheaper than this but then had bad coverage in Mumbai (no cashless tie up) so thought it'd be wiser to spend a few grands more and be tension free.

PS: Meanwhile, my X1's insurance had expired as well and the car is mostly used in Mumbai so have opted Future Generali Navnit Plan for that.

EDIT: "Also as per my understanding do not worry much about Road site assistance for the second year as BMW's RSA cover is valid for first 2 years of ownership."

- This is something that totally went off my mind, the new policy from Bajaj has RSA as well but thanks a ton for reminding!!

Last edited by AdiSinghV12 : 8th January 2015 at 11:16.
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Old 8th January 2015, 11:30   #177
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by AdiSinghV12 View Post
At the last moment I thought of checking the scenario in Delhi because the car was going to be used there for a good 3-4 months this year, called Deutsche Motoren and as soon as I mentioned Future Generali they started with "sir, they won't cover the entire labour charges", "we don't have cashless facility", "they won't pass big claims easily" etc. I was a little disappointed.
I guess all insurance companies are the same at the end of the day. Individual experiences vary from excellent to highly disappointing across all the service providers. I guess this accounts for the difference in versions across dealerships too. Here is to hope that we won't need to make a claim this year.
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Old 8th January 2015, 11:36   #178
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by drmohitg View Post
I guess all insurance companies are the same at the end of the day. Individual experiences vary from excellent to highly disappointing across all the service providers. I guess this accounts for the difference in versions across dealerships too. Here is to hope that we won't need to make a claim this year.
Yup! I hope the same!
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Old 8th January 2015, 14:08   #179
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Default Re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by AdiSinghV12 View Post

PS: Meanwhile, my X1's insurance had expired as well and the car is mostly used in Mumbai so have opted Future Generali Navnit Plan for that.
I have the zero dep Future Generali insurance on the X1 since past 2 years. And Unfortunately have made multiple claims in the last year and all work was done without a hiccup at Navnit.

End of the day it all matters at the rapport between the workshop and insurance companies.
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Old 8th January 2015, 16:46   #180
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Originally Posted by driverace View Post
Should the next policy renewal be for zero dep or regular insurance policy?
What would be the typical difference between regular policy & zero dep (post claim i.e. no NCB bonus deductible)
Opt for the zero depreciation policy over regular comprehensive. Will save a lot from burning a hole in the pocket. The typical difference is in the cost. The zero depreciation is an add on cover which needs to be taken over and above the regular policy. Even if you have a zero dep add on when you claim, you NCB will become zero.
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