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Old 22nd January 2010, 19:41   #1
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Default BMW Secure - How about Iffco Tokio?

My Beemer's 1st anniversary is almost here and its time to renew the insurance and the Secure package. BMW dealer here in Chandigarh is aggressively pushing Iffco Tokio rather than Bajaj Allianz. According to them Iffco Tokio has something called "Value Auto Protector" which is similar to BMW Secure. Also, the Iffco Tokio's Secure component is cheaper by a good 15,000 or so.

Any experience with Iffco Tokio vs. Bajaj Allianz?
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Old 22nd January 2010, 20:09   #2
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This is the first full year of Iffco Tokio offering a comprehensive insurance package. I believe that they will handle their first lot of customers with Velvet gloves. So, I say yes. Go for it.

Do I read dealer pushing for it? Then there is juice to be squeezed. You have a nice chance of a better price (discounts).

However before you get into the buying mode, just thoroughly check if:

1 Services for tyre replacement are covered on Sundays?
2 What is the wear chart/slab? Is it better/worse than Secure?
3 Does the tyre coverage include punctures/cuts/bursts and whatever?
4 Does the tyre cover Runflats & Non Runflats both? So, you keep the choice of tyres.
5 Is water damaged engine covered?

Take specific answers on

How is it different to BMW Secure?
Any specific exclusions?
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Old 22nd January 2010, 20:31   #3
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BeamerBoy,

Thx for the input. Yeah, I will also call up the local Iffco office and try to get a copy of the write-up on their version of the Secure. Have done some searches on the forums here and seems that Bajaj Allianz seems to be the best among the pvt insurers, at least better than Iffco.

Umm, u mentioned that it is Iffco's 1st year offering this kinda coverage, but I do recall that even in Feb 2009, BMW Chandigarh had presented to me Iffco Tokio as an alternative to Bajaj Allianz's Secure. So I guess they have been offering this longer than over a year.
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Old 22nd January 2010, 21:06   #4
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Brother, you are welcomed. Just re-read my post. I had specifically mentioned first full year for Iffco Tokio.

BTW...I have been using Bajaj Allianz for 5th consecutive year. No problems. I have paid higher premiums as compared to what others were offering however I have stuck to because they have ACTUALLY INSURED me and not made me read fine prints of exclusions etc.

Ok. Now I confuse you further...this thing donned on me post reading your 2 entry.

If you make a claim under BMW Secure, then your NCB for the main policy is not affected. +1 for Bajaj Allianz & BMW Secure. Check what's the story with Iffco Tokio.

BMW Secure is a product of BMW. Insurance comes from Bajaj Allianz. So, you get two responsible companies for grievance redressal. Iffco Tokio is one single entity and if they take a stupid stand, there is hardly any place you can go except to the court.
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Old 22nd January 2010, 21:18   #5
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Quote:
Originally Posted by BeamerBoy View Post
If you make a claim under BMW Secure, then your NCB for the main policy is not affected. +1 for Bajaj Allianz & BMW Secure. Check what's the story with Iffco Tokio.
Now THAT is awesome news !! Are you talking from experience? Suddenly Secure seems all the more worth it, I was contemplating on whether to factor this in during the purchase.
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Old 23rd January 2010, 19:55   #6
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Umm, I am sorry. This not get as nice as it seems you have read it. What I meant to say was:

If a claim is purely processed under BMW Secure package (only use cases are - Tyre Replacements & or Water Damaged engine) then the NCB of basic insurance policy is not lapsed.

Hope that I have clarified your point.
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Old 23rd January 2010, 20:37   #7
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@BeamerBoy - So what iffffff... my rim gets cracked because of a pothole? Do I retain my NCB?
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Old 23rd January 2010, 21:07   #8
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Fo rims, you will fill up a BA Claim Form. Any payout from BA means NCB gone.

The purely Secure covered jobs are Tyres & Water Hammers.
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Old 23rd January 2010, 21:51   #9
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Alright, thanks for the clarification. By the way, what BMW do you own? have you opted for a space-saver spare? (OT)
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Old 24th January 2010, 03:02   #10
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Quote:
Originally Posted by ackyash View Post
My Beemer's 1st anniversary is almost here and its time to renew the insurance and the Secure package.
AFAIK this insurance product is available only for new cars and not available for renewals unless of course your car had the same plan in its first year too.
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Old 25th January 2010, 12:39   #11
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Quote:
Originally Posted by flyingspur View Post
Alright, thanks for the clarification. By the way, what BMW do you own? have you opted for a space-saver spare? (OT)
I own an E60 530d Pre LCI.

The space-saver came with the car itself. Just used once.
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Old 2nd April 2014, 23:16   #12
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Default Re: BMW Secure- How about Iffco Tokio

I also am getting in the second year of my 320d Sports Plus. The BMW Secure Ultimate is costing me about 1.13 lacs , IFFCO TOKIO has the same features
- tyres
- keys
- alloys
- hydrostatic lock
- car replacement
- zero dep

The exact same for 68K. Thats about 50K less . Is there a catch ?
Has someone used IFFCO TOKIO's BMW product and any feedback?

BTW this is my first interaction at the forum so hoping I get some response , need to insure in a day or two

Cheers
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Old 2nd April 2014, 23:27   #13
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Default BMW - 2nd year insurance quandry

Hi

I am a first time poster on the forum so I did search for this topic and all threads were old. So I need some advice. My 320 d Sports Plus completes a year and I need to go in for my insurance.

I was in for a bit of a shock on insurance rates with BMW Secure. There are 3 levels to it , BMW Secure Ultimate which covers

- tires & alloys
- key
- bmw road assistance
- hydrostatic engine lock
- car replacement

The best qoute I have for this is a Bajaj Allianz + BMW offer of 1.13 lacs for an IDV of 25.2 L

The dealer has a product from IFFCO TOKIO giving pretty much exactly the same for 68K .

Is there a catch here ? Has anyone experience IFFCO TOKIO insurance ?

Help I need to finalise this week and I dont know any better.

Cheers
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Old 3rd April 2014, 07:04   #14
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Default Re: BMW - 2nd year insurance quandry

I have had IFFCO TOKYO insurance for my cars. The company is fine and there are no hassles for claims. It is normally cheaper than others.

I would also request you to approach M/s. Bajaj Capital in Nehru Place, New Delhi and try to take a quote from Tata Aig General Insurance, I can bet this will be the cheapest. I have been buying insurance from this company (Bajaj Capital) and the premium is always very competitive which no one else has been able to match.
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Old 3rd April 2014, 08:24   #15
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Red face Re: BMW - 2nd year insurance quandry

Quote:
Originally Posted by aqblues View Post
I was in for a bit of a shock on insurance rates with BMW Secure. There are 3 levels to it
Is the BMW Secure add on apart from the comprehensive Insurance from Bajaj? Doesnt the coverage as seen in the BMW secure similarly being offered by Bajaj too as addons which may be far more cheaper than BMW. Or is it that BMW secure is mandatory for a BMW owner.

Iffco Tokio is a good Insurance co but would advise to read the fine print of the policy before jumping to the offer. Would suggest to check with which Insurer does the BMW workshop have a cashless tie up.

Mods: Please merge the thread in http://www.team-bhp.com/forum/indian...es-ask-me.html (Automobile Insurance Queries? Ask me).
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