Team-BHP - Comprehensive Insurance Expired

I have a Honda City Type 2 bought on September 2000 during the term loan i had my car insured under Comprehensive policy from National Insurance Company...

For the next consecutive 2 years i had driven my car without insurance i had participated in the Speed Run 05 and as it was the last day of submission Renewing the Comprehensive insurance on the same day was not possible so i got 3rd Party insurance on the same day within 1 hour from the same insurance company....

So i wanna know now that my 3rd party insurance has been expired can i opt for Comprehensive insurance again....

If yes wat are the PRO's and CON's for it....
Will they cover the same liabilities or their liabilities will change ???
Which is the best insurance company to go for???

One more thing that i always wanned to know how does the depriciation works.....

when they calculate the depriciation and value the car for any XYZ amount does that means in case of accident that is the maximum amount they'll pay to cover the repairing charges???

Guys please: HELP

Quote:

Originally Posted by ~ H O N D A ~

If yes wat are the PRO's and CON's for it....
Will they cover the same liabilities or their liabilities will change ???
Which is the best insurance company to go for???

Yes you can get a comprehensive insurance.
Right now Bajaj Allianz and Iffco Tokio are giving good service. But I prefer Bajaj Allianz.

Quote:

Originally Posted by ~ H O N D A ~

My friend, if you could get a 3rd party insurance, you could have got the comp. insurance in the same time. what is the difference ? both require you to bring your car, if you have an expired insurance, else it is only a matter of paying the premiums.

Quote:

Originally Posted by ~ H O N D A ~

One more thing that i always wanned to know how does the depriciation works.....

when they calculate the depriciation and value the car for any XYZ amount does that means in case of accident that is the maximum amount they'll pay to cover the repairing charges???

From what I know (my experience with New India Assuarnace), they depreciate by 10% every year on the invoice value of the car. This is at flat rate and not on diminishing. Recently (I think a year and a half back), they have depreciated a new car by 5%.

Hence, this is how it would look -
Ex delivery - 95%
1 year - 85%
2 year - 75%
3 year - 65%
4 year - 55%
5 year - 45%

Don't know after that, never kept a car beyond 5 years.

Your claim cannot be beyond the WDV. There are also exclusions like plastic parts, rubber parts at 50%, etc..

I hope that helps.