[shuvc]

Calcutta dealer does say that other than Honda Assure, they won't honour cashless.

Given the benefits around plastics and electricals etc, Honda Assure might make sense for the first couple of years till the depreciation of metal parts hits the 50% mark. Beyond that the benefit on plastics being treated at par with metal is negated, isn't it?

The clause around plastics & electrical would surely be of help. I had to claim insurance on such parts for my current car during the first 2 years of ownership. And I had to cough up 50%.

[spadix]

Here's the situation I'm facing currently.

Honda is offering free (actually, nominal - at Re. 1/-) insurance for the Civic if purchased in July 2010. I was going to purchase in August/September but I thought 50k saved is very good.

However, when I saw Tata AIG quote only 26k for the V MT in Hyderabad I called up both the Honda dealers and told them I will buy my own insurance and not take the free insurance offer. I asked them instead to offer me some accessories for free instead, and both are refusing to budge. This is of course in addition to the usual stuff they say about how Honda Assure is better than other insurance policies (which may or may not be true and I really wouldn't like to find out, to be honest). For instance, stuff like the radiator assy which apparently costs 70k (Civic) is 100% insured under Honda Assure but typically only 50% by other providers. (Now, does that mean I should expect the radiator assy to fail soon? )

Anyway, I think I'll just go with the free insurance for now and when I have to renew insurance I'll hunt for another provider. This makes sense to me given that they are simply refusing to budge on other discounts. I wish there were 2 more Honda dealers here .

By the way, both dealers tell me that the 50k insurance amount is split 3-way between Honda, dealer and the insurance provider. So, shouldn't a 26k premium that goes exclusively to Tata actually cover *more* (assuming the 50k is split equally into 17k for each party)? Anyway, I had a classic "Wow!" moment when I realized how Honda and the dealers are making money. If not for the Civic (as in the car itself) I wouldn't really feel like buying a Honda.

Regards,
spadix

[mukeshgoel]

Time to renew my Civic's insurance and first time after 4 years, lot of confusion.

So, far I have been getting insurance done by Bajaj Allianz. Last year they gave me 50% discount on premium but this year, after they tied with Honda Assure, they are not giving more than 20%. On the other hand, Iffco-Tokyo is giving 45% discount.

Even Bajaj Allianz is with 2 options:

* Without Depreciation Shied - Rs.21,668/-
* With Depreciation Shied (Rs.10,000/- extra) - Rs.31,665/-

Whereas Iffco-Tokyo is just Rs.16,214/- with same facilities as of Bajal Allianz (That's what the dealer says).

Suggestion guys, which one should I go for.

[spadix]

Originally Posted by mukeshgoel

So, far I have been getting insurance done by Bajaj Allianz. Last year they gave me 50% discount on premium but this year, after they tied with Honda Assure, they are not giving more than 20%. On the other hand, Iffco-Tokyo is giving 45% discount.

I guess this may be because Honda Assure is offering higher coverage on glass and plastic parts as well as on other items that aren't covered 100% by off-the-shelf insurance policies. Please check if this is the case, and if so, take a call based on your risk preference.

Originally Posted by mukeshgoel

Even Bajaj Allianz is with 2 options:

* Without Depreciation Shied - Rs.21,668/-
* With Depreciation Shied (Rs.10,000/- extra) - Rs.31,665/-

Whereas Iffco-Tokyo is just Rs.16,214/- with same facilities as of Bajal Allianz (That's what the dealer says).

Suggestion guys, which one should I go for.

I don't understand the difference between with/without depreciation shield. Does it mean that you will be reimbursed current market (showroom) price of any part that needs replacement, as opposed to the depreciated value that you would normally be eligible for otherwise? If so, it's again a matter of how much risk you're willing to take.

It would be a good idea to find out from other Civic owners what parts are most likely to fail/need replacement after 4 years and what the current prices of those parts are. That should help you decide. However this is more of a wear-and-tear issue which I think no insurance provider covers.

So an even better idea would be to get the comprehensive parts price list, decide what you think are most likely parts to get damaged due to daily driving incidents (not unforeseen accidents and not wear-and-tear) and then decide.

Perhaps I've just stated the obvious all along .

Regards,
spadix

[vivekmohan83]

Originally Posted by spadix

I guess this may be because Honda Assure is offering higher coverage on glass and plastic parts as well as on other items that aren't covered 100% by off-the-shelf insurance policies. Please check if this is the case, and if so, take a call based on your risk preference.



I don't understand the difference between with/without depreciation shield. Does it mean that you will be reimbursed current market (showroom) price of any part that needs replacement, as opposed to the depreciated value that you would normally be eligible for otherwise? If so, it's again a matter of how much risk you're willing to take.

It would be a good idea to find out from other Civic owners what parts are most likely to fail/need replacement after 4 years and what the current prices of those parts are. That should help you decide. However this is more of a wear-and-tear issue which I think no insurance provider covers.

So an even better idea would be to get the comprehensive parts price list, decide what you think are most likely parts to get damaged due to daily driving incidents (not unforeseen accidents and not wear-and-tear) and then decide.

Perhaps I've just stated the obvious all along .

Regards,
spadix

I have got the 1 Re Honda Assure package for my Civic VAT and my car will be delivered next week. I just got a call today from the dealer asking me if I wanted the deprecfiation shield at 7k extra per annum. Is it worth the excess amount?

[donarun]

Today I was at a Honda showroom to book a City. The dealer (SA) offered me insurance from "Universal Sampo". He claimed that it is one of the Honda approved / assured insurance and there was nothing to worry. I have not heard abt "Universal Sampo" before. Does anybody have any experience using their services before ? The dealer also deals with National Insurance, would it be better to go for it instead of this one. Please advice.

[superboy44]

just an update to this thread,

i am about to renew the insurance cover of my Honda jazz which was earlier on also insured by bajaj allianz under the Honda assure program.

i am attaching the copy of the paperwork that points out to the benefits of the Honda assure program and that of the add on cover provided by them.

it now does cover cars up to the 5th year of ownership and the no. of claims per year is not limited to 2.

don't know if this info has be posted earlier or not,
please excuse the quality of the paperwork pics as i did not have a scanner handy.

[shuvc]

Approx how much is the 2nd year Honda Assure premium for the Civic VMT?

I paid 40,xxx K when I bought it.

[Sn1p3r]

^^
I have Honda Assure with Iffco-Tokyo, a day ago the car rear got damaged during backing in a very dark basement and the claim has to be made.

I went to RR Honda, Gurgaon and they had no idea on what my policy will cover, I had asked for a zero depreciation policy but RR Honda guys can not make out if it is Zero Depreciation or not, as per they will get to know only during the process and the claim has been made.

I find it tough to understand why cant they know as it should be a cashless claim thing?

Can someone please tell me how do I get to know what are the insurance claim that the policy covers?

I was given an estimate of Rs 32000+ and if its not a zero depreciation then Rs 5000 from my pocket, if it is a zero depreciation then 500 processing charges and 800 nuts and bolts charges Rs 1300 total.

This is my first ever claim, kindly help me solve the puzzle.

Thanks!

[Sn1p3r]

My car's first insurance renewal is due.
IDV first year was Rs. 865004/-

I took a claim for the rear bumper and boot were hit while backing in dark. There goes the NCB :(

Now, various companies and agents are calling in and thus the confusion.

I am only looking at 0% depreciation policy. What will be the IDV this year. Some call in to say it will be 7,20,000 or 7,58,000 and some say its 7,80,000. According to my calculation it should be 10% depreciation on current IDV and so its 7,78,500.

Tata AIG quotation is Rs 20,600
Honda Assure quotation is Rs 29,198
ICICI Lombard quotation is Rs 23,000

As the variation is almost Rs 9,000 I thus wish to consult the forum.

1. Is there a marked difference between Honda Assure and 0% dep from other companies?

2. Is 0% dep policy from Tata AIG cashless and how is the reputation of the company when it comes to payments?

Kindly add on anything if I might have missed.

Thanks!

[sgiitk]

Honda Assure is primarily for Cashless. Also, in the event of an accident the permission /approval process may be streamlined and fast.

[Sn1p3r]

^ Thank you for answering at the other thread. http://www.team-bhp.com/forum/test-d...ml#post2371292

[RemingtonSteele]

Here is the deal I got for my 1st year Tata-AIG 0 depreciation (Pearl Plan) Honda City VMT Insurance renewal.

The only this we didn't Opt for was:
- Daily Allowance
- Return to Invoice.

TOTAL PREMIUM Rs. 17,538.00

One Note: The Tata-AIG person confirmed that they are offering 0 depreciation on Honda City for upto 6 years from the date of puchase.


http://www.team-bhp.com/forum/indian...ml#post2388482

[shuvc]

I'm not sure but Honda Assure zero dep policies probably do not have a 2 claim cap per year. Can someone confirm?

[superboy44]

@shuvc
i am pretty sure that honda assure zero dep. policy does not have that 2 claims per year limit.
at least this is what the paperwork provided by them say.