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Old 22nd March 2011, 09:19   #61
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Default re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by RaguHolla View Post
On the same matter I would like to add the following feedback with respect to Bajaj Allianz DriveSure policy (which is same as 0% depreciation). Catch with Bajaj is you can claim only twice 0% depreciation in a year. After that it becomes normal.

I too took this insurance, reason if you know how mad is our traffic, it is not necessary that you make mistake. The other can also cause considerable damage. If this other person is commercial vehicle or auto (who never have insurance on their vehicle), forget about you getting any money. So be safe and get this policy if you can.

The feedback part is, like Sam I too had to use this for an accident with my vehicle. The thing with Fiesta is front overhauling didn't cost like Superb! Total cost is coming to around 35K, with 50% plastics at 13K my share. Though I had Drivesure, insurance surveyor, only approved 50% for plastics. His argument was, "Sir you might meet with bigger incident so why claim now". I told him to pay full, and stop wishing bad luck to their customer. He eventually obliged (he has to!).

So if you happen to have insurance with 0% depreciation, while claiming make sure that you avail that. Clever surveyor tries to pass on like any dealer wanting to repair under warranty.
@RaguHolla: I am also planning to take Bajaj Allianz DriveSure policy for my new vento. Actually I was looking for 0% depreciation and asked the representative from Bajaj Allianz. He told me about the DriveSure policy but he is not quite sure whether the plastic parts will be covered 100% by the insurance company. So I was in confusion. After reading your post and as you have already claimed 100% for plastic parts using DriveSure I am clear now. Please correct me if my understanding is wrong.

Also I feel the premium is too high what he quoted. Below is the quote that he gave. Also attached the DriveSure benifits and conditions document for reference.

Volkswagen Vento

Premium without DriveAssure

IDV :: 877325
Basic Own Damage:: 29329
TPPD / Act:: 2500
Compulsary P.A For 5 Passengers:: 300
PA Cover For Owner-Driver:: 100
LL to Employee:: 25
Net Premium:: 32254
Service tax (10.3%):: 3322

Final premium:: 35576

Premium with DriveAssure

IDV of the vehicle :: 877325
Variable Premium % :: 1.00
Basic OD :: 29329
CD @ 30%
OD - CD :: 29329
Drive Assure Premium :: 9273
Total OD :: 38602
Basic TP :: 2500
PA cover for Owner-Driver :: 100
PA cover for unnamed Passengers :: 300
LL to Driver :: 25
Total TP :: 2925
Net Premium :: 41527
S. Tax @ 10.3% :: 4277

Gross Premium :: 45805


I negociated with him and he is ready to give around 6K discount for DriveSure which would finally come around Rs. 39,500. Is this ok for my new VW Vento? The ExShowroom price is Rs. 9,23,500. Please advice.
Attached Files
File Type: pdf Bajaj Allianz - Drive Assure- Benifit & conditions.pdf (173.5 KB, 18032 views)
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Old 27th March 2011, 00:01   #62
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Default re: 0% Depreciation Insurance - It really worked for me!

Hi Giri,
I think the quote you got is bit on higher side. I was also recently in discussion with Bajaj Allianz for IDV of around 8.15 Lakhs and the quote I got was around 26,952 Rs and they were ready to give me some discount of around 2.5k more and which would make the premium at 24.5k and this is inclusive of service tax. This is without the 0% insurance cover though. For that it was another 9k if I was not wrong. I got a call from one person who claimed to have called me directly from their HQ in Pune. This might be true as the number showed was similar to their helpline number.
I had to take Royal Sundaram insurance at last due to my own mistake of not properly communicating to the dealer about my intention to get insurance outside. I told them about my intention on the day of registration but they've informed me that they've already done the insurance with Royal Sundaram as they need to get the insurance cover letter before sending the car for registration. Not sure how much truth was there in the whole episode but I had to believe in them. But when I asked them how much extra would it cost me for the 0% depreciation of plastic parts they told me that it's only 2300Rs extra. I immediately told them to put the add-on for the 0% depreciation. Anyway, the premium from Royal sundaram after discount came to 23k+2.3k for the 0% depreciation add-on.
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Old 27th March 2011, 00:41   #63
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Default re: 0% Depreciation Insurance - It really worked for me!

I have got an excellent quote from Tata AIG for the insurance on my Polo. I plan to take their pearl plus NCB add on which includes 0% depreciation and saving NCB (25% or more, currently have 50%). I will attach a document that helps know more add ons from Tata AIG. Currenltly, the civic and swift at home too are insured from Tata AIG and a claim for civic 2 months back went smoothly. So I'd highly recommend them.

TATA AIG ADD ON BENEFITS[1].pdf

Also, I'd like to take 0% depreciation on cedia (insurance due in a month and a half), considering that each bumper along with skirting cost 24k (8k for bumper and 16 for skirting) and each head light assembly cost 24k. However, the car is already 3.5 year old and the 0% benefit is only on cars up to 3 year old.

Last edited by gaurav_chopra04 : 27th March 2011 at 00:42.
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Old 21st May 2011, 14:37   #64
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Default re: 0% Depreciation Insurance - It really worked for me!

hi gaurav,

please share details of your tata-aig quote.

Thanks.
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Old 22nd May 2011, 20:41   #65
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Default re: 0% Depreciation Insurance - It really worked for me!

Forgot to update this thread.
Last year, me and my friend both opted for zero depreciation insurance from Bajaj (Drive assure Package). My friend had a major accident a month ago and the process was really neat and all he paid was Rs.500 for the claim of Rs.56000. In fact as mentioned by them, they repaid the towing charges.
So now it was time for me to renew and i blindly went in for Drive assure package. I believe we pay little bit more but end of the day hassle free about the claims.
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Old 13th September 2011, 20:20   #66
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Default re: 0% Depreciation Insurance - It really worked for me!

Reading all these threads on T-BHP also helped me in taking my decision to renew my BMW's insurance today. After talking to a couple of companies over the last 3-4 days, decided to go with Tata-AIG as they had the best package & at a very competitive rate.
The earlier insurer was IFFCO-Tokio & they did a very poor job in trying to retain me as a customer. ICICI-Lombard did an excellent pitch, while Bajaj Allianz & Royal Sundaram attempted to win my business in a half-hearted fashion. Just shows how much of an effort these companies are willing to put in for a renewal premium which is 40k+.
Glad to see all of these options which can cushion the TCO (Total Cost of Ownership) of these high end cars :-)
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Old 3rd October 2011, 13:48   #67
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Default re: 0% Depreciation Insurance - It really worked for me!

Had a few queries

1. The Maruti dealer indicated that for a new car we will not be allowed to take the add on for 0 depreciation in case the insurance is taken from him even when I was willing to pay for the add-on, however he was willing to give a discount of 15 % on the base policy. I have asked the dealer to provide me with the contact number of the insurance guy so that I can have a word with him directly to understand as to why I would not be allowed to take the add on when I am willing to pay for that .

Has anybody taken the 0 depreciation add on during a new car (Swift D) purchase from the Dealer itself ?


2. In Kolkata only 2 insurance service providers namely Bajaj Allianz and Royal Sundaram have a tie-up with Maruti and provide cashless insurance facility so I would have to choose from either of them. Got a quotation from Bajaj Allianz Pune head office surprisingly it was around 2 K more than what the Maruti dealer had quoted. Yet to get a quotation from Royal Sundaram.

Should I approach an insurance agent directly to get a lower quote or is there any other alternative ?
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Old 1st November 2011, 15:25   #68
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Default re: 0% Depreciation Insurance - It really worked for me!

I was renewing my Policy with Bajaj Allianz this week, it was a normal policy but I wanted a driveassure policy this time. Surprisingly I found out that they can refuse to sell you a zero dep policy if you have had any claims in the past year. :(
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Old 1st November 2011, 15:44   #69
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I spoke to Bajaj guy today for zero depreciation policy for XUV 500 and to my surprise he said that 0 dep policy is not available for Mahindra vehicles. Has anyone faced this before?
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Old 6th November 2011, 10:57   #70
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Default re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by Sam Kapasi View Post
I neglected to mention. TAIG will also pay me Rs. 20,000 to hire a car to take me to work for 10 days.
Do they pay upfront OR do you need to produce bills/vouchers?

Rgds
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Old 6th November 2011, 11:06   #71
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Default re: 0% Depreciation Insurance - It really worked for me!

For a 7 lakh IDV Value, the insurance premium for with 0% dep. policy should be around Rs. 22000 (Give or take 1000)
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Old 1st December 2011, 08:14   #72
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Default re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by Gerardfdz View Post
Do they pay upfront OR do you need to produce bills/vouchers?

Rgds
Actually, I had wondered about the same thing. However my "relationship manager" as they say for someone who handles your account, said that such a receipt was not needed.

Sure enough, less than 2 weeks after my accident, we received a cheque for the taxi/care hire amount as promised. No paperwork was asked for.
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Old 2nd December 2011, 23:14   #73
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Default re: 0% Depreciation Insurance - It really worked for me!

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Originally Posted by Sam Kapasi View Post
Actually, I had wondered about the same thing. However my "relationship manager" as they say for someone who handles your account, said that such a receipt was not needed.

Sure enough, less than 2 weeks after my accident, we received a cheque for the taxi/care hire amount as promised. No paperwork was asked for.
Thanks for the input. I finally did take a zero depreciation on my XUV. Just waiting to get the original policy and check the fine print.
Regards
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Old 3rd January 2012, 14:46   #74
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Post re: 0% Depreciation Insurance - It really worked for me!

Quote:
Originally Posted by Tejas@perioimpl View Post
Can i take this add-on midway or do i have to wait for renewal?
I took the delivery of my Rapid on 5th of Dec with standard (comprehensive insurance) despite the fact that i have informed the dealer i would like to opt for the "Zero" Depreciation Policy option.

I took this up with Bajaj Allianz - this is how it works:

1. first i have to make full payment for the 0 dep policy (post physical inspection)
2. they will issue a cover note (this will be a new policy)

3. they will cancel my current policy and credit the refund into my account.

The only dis-advantage of doing this midway is blocking of funds - (refund is paid after deducting the already lapsed time, on the old policy)
-hope this helps.
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Old 26th January 2012, 11:46   #75
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Default re: 0% Depreciation Insurance - It really worked for me!

Guys,

I have a question.... I've got a Swift-D with the highest level of NCB discount (45%). I'm buying a Cruze, and I want to transfer the insurance from the Swift to the Cruze.

So I guess my question is: Can I transfer the insurance from the Swift to the Cruze, get the 45% NCB benefit on the new car, and also upgrade it to the zero-depreciation on plastic (bumper to bumper) coverage?
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