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Old 25th December 2010, 23:06   #31
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Default re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by GTO View Post
Learn something new everyday!
How much would it have cost you to get regular insurance cover and, of course what did you pay for this enhanced policy?
I believe the standard insurance amount would have been about 13000 to 14000 cheaper for the first year.

The amount on my car was about 53000 in total.

Last edited by Sam Kapasi : 25th December 2010 at 23:08.
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Old 27th December 2010, 13:57   #32
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Default re: 0% Depreciation Insurance - It really worked for me!

I was told by my friend in Oriental Insurance that the zero depreciation policy will reimburse the full price of all the parts( including plastic etc.) and labour minus Rs. 3000/-.

So, if the total amount of your claim is Rs 6000/-, you will get only Rs.3000/-. But, if it is say Rs.60,000/- you will get Rs.57,000/-. He also recommends to go in for this policy as modern cars are full of expensive plastics.

Murthy
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Old 28th December 2010, 01:38   #33
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Default re: 0% Depreciation Insurance - It really worked for me!

I have seen a notice displayed in Trident Hyundai service centre on Kanakpura Main Road Bangalore which says that they dont undertake the accident repairs of the vehicle insured by Tata AIG.
When I asked the service personell about the reason for the said notice he said that Tata AIG does not pay proper labor charges and hence they can not afford to carry out the repairs at the cost paid by the Tata AIG.

Please comment and clarify.
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Old 29th December 2010, 11:53   #34
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Thumbs up re: 0% Depreciation Insurance - It really worked for me!

Even I am going to opt for this for my new Honda City. its going to be from Bajaj Allianz.
I think the extra Premium that you need to pay over the regular Premium is 0.8% of IDV (Or Ex Showroom Price, I am not sure)
For an extra amount of 5-6K, I will really have piece of mind
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Old 29th December 2010, 22:31   #35
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Default re: 0% Depreciation Insurance - It really worked for me!

@Sam,
What's the name of your insurance plan?
Pearl, Titanium or Platinum?

Edit: I looked at the 'endorsements on the insurance' and looks like its Platinum Plan. Never mind.

Last edited by HammerHead : 29th December 2010 at 22:38.
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Old 29th December 2010, 22:52   #36
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Default re: 0% Depreciation Insurance - It really worked for me!

During Second year insurance renewal, i blindly opted for 0% depreciation scheme of Bajaj allianz. It costed 2k extra for i10.
The reason to go for this was first year i had insurance claims where most of them were plastic parts and this made me think about this option and went in for it.
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Old 30th December 2010, 14:13   #37
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Default re: 0% Depreciation Insurance - It really worked for me!

I have the 0% Depreciation Policy from Bajaj Allianz for both my cars (have it since march)

Didnt have to use it so far and I hope it stays that way.
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Old 30th December 2010, 14:52   #38
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Default re: 0% Depreciation Insurance - It really worked for me!

I just had the 0% depreciation policy from Tata AIG for my Honda City, it costs 40% extra on basic premium + 485/-, I paid around 4100 extra for it but now it seems all worth it.

Also there is a clause which says if one goes for repair instead of replace then NCB is unaffected and we can take benefit of that during next renewal.
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Old 30th December 2010, 15:21   #39
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Default re: 0% Depreciation Insurance - It really worked for me!

So this is like normal insurance elsewhere outside India!

Really helps to consider this while renewing next time. Mostly its the front and rear bumpers that need to be replaced. Thanks.
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Old 30th December 2010, 23:10   #40
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Default re: 0% Depreciation Insurance - It really worked for me!

i too have this 0% depreciation plan from Bajaj Alliance but last week i heard that Royal sundaram provides the same at just 500 rs more than the standard insurance.Bajaj charged me 3500 extra for this.
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Old 31st December 2010, 00:06   #41
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Default re: 0% Depreciation Insurance - It really worked for me!

If 50% depreciation was justified on plastics, that would mean everybody replacing all the plastic parts every two years. The reality is that most of them last as long as the rest of the car. It is a complete fiction, designed to save insurance companies costs.

Maybe, one day, some motor-minded philanthropist might take up some PIL (or what ever would be appropriate) to try to put an end to this!

In the mean time, Thanks Sam, and hoping your Superb is gleaming again soon.
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Old 31st December 2010, 02:16   #42
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Default re: 0% Depreciation Insurance - It really worked for me!

Wow, i had never heard about thos before. this is a superb learning. Will share it with my friends as well. Thanks Sam.
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Old 31st December 2010, 11:43   #43
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Default re: 0% Depreciation Insurance - It really worked for me!

Note from Mod: There are several spelling & grammatical errors in your posts. This negatively affects the board experience for other readers.

Kindly ensure that you proof-read your posts prior to submission. Also, it would be a good idea to use spell-checkers.

Last edited by GTO : 4th January 2011 at 19:23.
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Old 31st December 2010, 14:30   #44
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Default re: 0% Depreciation Insurance - It really worked for me!

Who else would understand this situation better than me. I had a similar accident in my OHC this monday. Honda has mentioned 1-1.5 lacs for the same. Parts damaged and to be replaced:
- Bumper
- Radiator
- AC Condensor
- Bonnet
In addition will come to know on opening if some other part is broken or not. What insurance would cover is 100% labour, 50% on fiber parts and around 50% for other parts (depreciation as this is an old car, 2002 model). I might have to pay around 50k which is big dent on my pocket.

I have policy from ICICI Lombard. Would like to know if ICICI Lombard also offers these addons. Else might go in for policy from TAIG next year.
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Old 1st January 2011, 19:36   #45
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Angry re: 0% Depreciation Insurance - It really worked for me!

This is awesome. I never knew about it. However, I always claim insurance - Every year Just because I dont really care much about NCB & concentrate more in avoiding the pinch in my pocket.

This information will be very helpful since I'm planning to change my wagon R to Vento. Thanks to all
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