[ghodlur]

Originally Posted by v_2rahjo

More updates - Skoda says that I will need to pay 4.5k even after 0 Dep. they say - 1500 for file charges and the rest for salvation. They are not willing to waive anything. Are they correct?
A local workshop gave me an estimate for Rs 1500 for the repairs. But he won't be changing the grill and chrome strip above the grill. Not sure how the repairs will come out.

1500 is the compulsory deductible and is standard. The salvation charges are something unheard of unless it is a total loss case. So in your case, does not apply. You may be required to pay for the consumables in addition to Rs 1500 and that should be it.

[v_2rahjo]

Originally Posted by ghodlur

1500 is the compulsory deductible and is standard. The salvation charges are something unheard of unless it is a total loss case. So in your case, does not apply. You may be required to pay for the consumables in addition to Rs 1500 and that should be it.

I am totally in agreement with the 1500 charge. But the workshop insists on the additional 2-3k. Does anyone know a number or email for Bajaj alliance where I can contact and get this waived off. I called them but they kept giving me different numbers to call.

[genopv]

Dear All,

I'm looking at buying a new car and hence hunting for insurance. Does anyone here use Oriental Insurance, Bumper-to-Bumper zero depreciation scheme?
I have been using their normal insurance for more than 10 years, but have never used their ZD B2B add-ons.

thanks & rgds
Venkat

[mithun]

Originally Posted by genopv

Dear All,

I'm looking at buying a new car and hence hunting for insurance. Does anyone here use Oriental Insurance, Bumper-to-Bumper zero depreciation scheme?
I have been using their normal insurance for more than 10 years, but have never used their ZD B2B add-ons.

thanks & rgds
Venkat

Yes, I'm using it for the last 2 years. And, I had made a claim also.

I would recommend it. But make sure that you go to the center having cashless option.

[drmohitg]

My Altis completes 5 years next week and the insurance is up for renewal. Till now I have always bought the Zero Depreciation insurance and would like to do the same in future also for as long as I can. But just checked out Policybazar and it shows the option of only Bajaj Allianz and the amount quoted is Rs. 24k. My last year premium was 18k. How is that possible? With an additional 10% NCB, how can the new renewal premium be more than last year's amount?

Any other companies that offer this Zero Depreciation plans for cars older than 5 years?

[ghodlur]

Originally Posted by drmohitg

My Altis completes 5 years next week and the insurance is up for renewal. Till now I have always bought the Zero Depreciation insurance and would like to do the same in future also for as long as I can. But just checked out Policybazar and it shows the option of only Bajaj Allianz and the amount quoted is Rs. 24k. My last year premium was 18k. How is that possible? With an additional 10% NCB, how can the new renewal premium be more than last year's amount?

Any other companies that offer this Zero Depreciation plans for cars older than 5 years?

Two queries:
1) Did you get the renewal notice? Does it have the correct IDV and premium quoted? Min NCB starts at 20%.
2) With which Insurance co does Toyota workshop have a cashless tie up?
I don't think any current player offers zero depreciation add on cover for vehicles more than 5 yrs of ownership.

[drmohitg]

Originally Posted by ghodlur

Two queries:
1) Did you get the renewal notice? Does it have the correct IDV and premium quoted? Min NCB starts at 20%.
2) With which Insurance co does Toyota workshop have a cashless tie up?
I don't think any current player offers zero depreciation add on cover for vehicles more than 5 yrs of ownership.

Sir I did get the renewal notice from Bharti Axa and they have offered only a comprehensive plan. I double checked on their website also and they do not offer zero depreciation plan for cars older than 5 years.

Now IIRC a few companies had started offering zero dep policies for upto 7 years. In fact I clearly remember that I had posted here about the same too and one of them was Liberty Videocon. But on checking online portals now, no one seems to be offering the same.

I just checked on Coverfox and they are offering a Zero dep policy from Oriental insurance with the rider that it would not be cashless ( I can live with it). But the agent also mentioned that even though the policy says Zero dep but in reality they would not offer 100% reimbursement but it would more to the tune of 80-90% and IRDA has clearly mentioned that after 5 years you can't offer zero dep plans. But I did not understand this as how then the company can offer me a Zero dep plan in the first place? And if they are then they have to honor it. Or am I wrong? I have no prior experience of dealing with Oriental insurance and I guess they might not be as receptive too as private sector players.

[ghodlur]

Originally Posted by drmohitg

Now IIRC a few companies had started offering zero dep policies for upto 7 years. In fact I clearly remember that I had posted here about the same too and one of them was Liberty Videocon. But on checking online portals now, no one seems to be offering the same.

I just checked on Coverfox and they are offering a Zero dep policy from Oriental insurance with the rider that it would not be cashless ( I can live with it). But the agent also mentioned that even though the policy says Zero dep but in reality they would not offer 100% reimbursement but it would more to the tune of 80-90% and IRDA has clearly mentioned that after 5 years you can't offer zero dep plans. But I did not understand this as how then the company can offer me a Zero dep plan in the first place? And if they are then they have to honor it. Or am I wrong? I have no prior experience of dealing with Oriental insurance and I guess they might not be as receptive too as private sector players.

That might have been the case with Videocon Liberty when they were new and wanted to get customers. Providing zero dep add on cover is subject to the Insurance co, I have known people getting the add on cover in the 7th yr of ownership too and the reason given by the Insurance co is that no claims during the 7 yrs of ownership is also one of the reasons.

With regards to the honoring of the claim, yes every Insurance co who provides the policy and add on cover should be honoring their part. By 80-90% comment by the agent, what it means is consumables form 10-20% of the repair cost and this has to be borne by the customer. Apart from the one time claim charges. Since Oriental is a PSU insurance co, they would not want to commit the complete repair charge once the claim is lodged. Hence they want the customer to first pay and then claim the repair expense. The only issue here is getting the complete claim from them since they might not accept a few expenses which you may have already paid for.

My suggestion, not to opt for Oriental Insurance.

[drmohitg]

Originally Posted by ghodlur

Hence they want the customer to first pay and then claim the repair expense. The only issue here is getting the complete claim from them since they might not accept a few expenses which you may have already paid for.

My suggestion, not to opt for Oriental Insurance.

Sorry didn't read your reply in time. But anyways the option of Zero dep was too difficult to ignore. Even if they would honour 80% of the cost in the event of a claim then also it might work out to be more than what a regular comprehensive insurance would cover. Hence opted for Oriental insurance. Also the extra premium for Zero dep is only 2600 Rs.

[hillsnrains]

Hello folks,
My Nov 2011 make Skoda Rapid is due for insurance renewal and want to continue with Zero depreciation policy (currently with Baja Aliianz).

Current IDV is 6,38,939/- with 45% NCB and want to go for 5,75,xxx/- (~90% of previous year). There are no claims during this year as well, so I should get 50% NCB this year.

Now the problem is shortlisting the insurance provider as Bajaj Allianz will not provided zero dep. policy for next year. My current options are HDFC Ergo (16.5K), Royal Sundaram (20K), Bharati AXA (19K). Any inputs would be really helpful.

[tud]

Originally Posted by hillsnrains

Hello folks,
Now the problem is shortlisting the insurance provider as Bajaj Allianz will not provided zero dep. policy for next year. My current options are HDFC Ergo (16.5K), Royal Sundaram (20K), Bharati AXA (19K). Any inputs would be really helpful.

Renewed insurance (6th year) for my Nov 2011 Punto. Its always been on zero dep. Royal Sundaram and Tata AIG kept slashing their prices (with no change in IDV or add ons) till I choose one of them. One reason to choose T AIG was they offer 7th year zero dep which not many offer at the moment.

Why between these two? Trouble Free (at least in my case).

Cheers!

PS - Speak to a particular SPOC in each company than the call centre, they'll help you out (be it giving competitive price or what not) because its an incentive for them.

[VKumar]

Originally Posted by hillsnrains

Now the problem is shortlisting the insurance provider as Bajaj Allianz will not provided zero dep. policy for next year. My current options are HDFC Ergo (16.5K), Royal Sundaram (20K), Bharati AXA (19K). Any inputs would be really helpful.

Check with Tata AIG, they do provide as much I remember.

[ghodlur]

Originally Posted by hillsnrains

Now the problem is shortlisting the insurance provider as Bajaj Allianz will not provided zero dep. policy for next year. My current options are HDFC Ergo (16.5K), Royal Sundaram (20K), Bharati AXA (19K).

Since your ownership has completed 5 yrs, BA is not offering you the zero dep add on cover. Can you confirm whether the short-listed Insurance cos have offered zero dep add on cover for your 5 yr owned car? Pls confirm with which of the short listed Insurance co has a cashless tie up with the Skoda workshop, take an informed decision. Also go through the zero dep add on cover details before you buy.

Originally Posted by tud

One reason to choose T AIG was they offer 7th year zero dep which not many offer at the moment.

Is this offer documented somewhere either on their quote or on Tata AIG website coz the website still says car ownership above 5 yrs will not be offered zero dep add on cover.

[hillsnrains]

Originally Posted by ghodlur

..... Can you confirm whether the short-listed Insurance cos have offered zero dep add on cover for your 5 yr owned car? Pls confirm with which of the short listed Insurance co has a cashless tie up with the Skoda workshop, take an informed decision.

All of the shortlisted cos provide zero dep cover and they also have cashless tie up with Skoda workshop. These two are the most important criteria for me. Thanks for your inputs.

Originally Posted by tud

...Speak to a particular SPOC in each company than the call centre, they'll help you out (be it giving competitive price or what not) because its an incentive for them.

Thanks for inputs. I have used portals like policy bazar just to get a quick comparison of the quotes and final deal/payment will be worked out with insurance co. directly.

Originally Posted by VKumar

Check with Tata AIG, they do provide as much I remember.

TATA AIG quote is also ~17K but the IDV they are quoting is just 4.5L, which is not acceptable for me.

[tud]

Originally Posted by ghodlur

Is this offer documented somewhere either on their quote or on Tata AIG website coz the website still says car ownership above 5 yrs will not be offered zero dep add on cover.

The agent told me on call. Plus, while I was probing the agent on various tariffs mentioned and how I was not convinced, he shared a chart with me, which details the various charges as per age of the vehicle. The chart also shows the zero dep application rates for cars up to 7 years of age.