[VKumar]

Originally Posted by hillsnrains

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

I'd suggest you to check via online portals like Policy bazaar and Coverfox. They normally give an option of adjusting your IDV as per your wish with minor hike in premium charges.

[DriveOnceMore]

My actual issue is My car is in workshop for Denting painting job.
TML officials quoted 2000 rs processing fee + service tax on labour and spares to be borne by me.
I have Zero Dep Policy from Oriental insurance.

Is that amount correct or TML is overcharging?
This is my first instance of claiming the insurance.

[ragh_bhushan]

Originally Posted by DriveOnceMore

My actual issue is My car is in workshop for Denting painting job.
TML officials quoted 2000 rs processing fee + service tax on labour and spares to be borne by me.
I have Zero Dep Policy from Oriental insurance.

Is that amount correct or TML is overcharging?
This is my first instance of claiming the insurance.

Please check your policy document for "Compulsory Deductible" amount. That is the processing fee and should be same as compulsory deductible. Apart from that if you have consumables cover then you don't need to pay single penny for anything including any taxes. If you don't have consumables cover then only consumables, if any, used during your repair has to be borne by you. Hope this helps!

[akhilesh51]

My BMW 525i is due for its insurance renewal in its seventh year. Up till now, it has always been covered under Nil Depreciation cover and never been involved in a major accident.

I wish to continue the trend but TATA AIG & BAJAJ ALLIANZ have both refused owing to 7th year of renewal.

Is there any reliable insurance company offering NIL DEP COVER for vehicles in 7th year and upwards.

Thanks in advance.

[AbhiJ]

Originally Posted by akhilesh51

My BMW 525i is due for its insurance renewal in its seventh year. Up till now, it has always been covered under Nil Depreciation cover and never been involved in a major accident.

I wish to continue the trend but TATA AIG & BAJAJ ALLIANZ have both refused owing to 7th year of renewal.

Is there any reliable insurance company offering NIL DEP COVER for vehicles in 7th year and upwards.

Thanks in advance.

Try HDFC Ergo, although I doubt they ll cover over 7 years. Might be better to find an an HDFC Ergo Insurance agent.

[dailydriver]

Originally Posted by akhilesh51

Is there any reliable insurance company offering NIL DEP COVER for vehicles in 7th year and upwards.

Zero Depreciation insurance is generally offered only to vehicles which are less than five years old. So, I think you have already enjoyed your bonus in the sixth year .

Try policybazaar/coverfox. If anyone offers it online, either go for it or call an agent of the company and negotiate a better deal.

[Holyghost]

If you are okay with the New India or Oriental Insurance, you can get a Zero Dep insurance. New India provides Zero Dep for upto 10years. I have my Cruze insured with New India Zero Dep.

[dass]

Catch hold of some agents, they have a way of getting the 0 dep for older cars. a friend recently got his 7 year of I20 insured with Tata AIG through an agent and he was able to get him 0 dep.

Ps - I think you will get better response if you post this in the insurance thread or on the 0 dep thread.

[khoj]

Hi, how old is your cruze. I have been refused 0 dep by the agent, your reply will enable me to reapproach them.

Originally Posted by Holyghost

If you are okay with the New India or Oriental Insurance, you can get a Zero Dep insurance. New India provides Zero Dep for upto 10years. I have my Cruze insured with New India Zero Dep.

[androdev]

Bajaj Allianz and Tata AIG offer up to 7 years but I think it depends on the agency and doesn't seem to be universal.

I buy my Mercedes insurance through the dealer and they confirmed availability of zero depreciation coverage for 7 years. I get my BMW insured thought an outside agency and they just renewed 7th year zero depreciation policy with Tata AIG.

[Holyghost]

Originally Posted by khoj

Hi, how old is your cruze. I have been refused 0 dep by the agent, your reply will enable me to reapproach them.

Mine is 2011 model and I had it insured with New India a few months back. At that time, their website had it clearly mentioned that Zero Dep cover is available to vehicles upto 10 Years old.

However when I checked it today, the website says it is available only upto 5 years. Looks like they have withdrawn the 10 year offer.

The New India Assurance Co. Ltd, which is the premier General Insurance Company of India and owned by Govt. of India,in its endeavor to provide more protection to its esteemed customersis providing certain Add-on Covers along with its standard Motor Package Policy. Such add-on covers are available for Private Cars(PC), Two Wheelers(TW) and Commercial Vehicles(CV).

Nil Depreciation Cover (For PC, TW & CV)

Nil Depreciation Cover relieves the customers from bearing the depreciation of 5% - 50%on various parts (metal, plastic, fiber or rubber) in the event of loss due to accident. Almost all the expenses associated with the repairs of loss would be taken care of by the company. There will be no need to pay depreciation from your savings in case of partial losses. This will be possible with New India’s Add-on cover of NIL Depreciation.
The cover is available for PC, TW and CV as follows:
Private Car Package Policy – Enhancement Cover (upto 5 years of vehicle age)
Two Wheeler Package Policy – Enhancement Cover (upto 5 years of vehicle age)
Commercial Vehicle Package Policy- Enhancement Cover upto 5 years of age, applicable only for Goods Carrying Vehicle & Passenger Carrying Vehicle(1+9 seater only.)

The Oriental Insurance is still giving upto 10 Years. Atleast the the pdf downloaded from their website still says so.
Motor-CR-NewAddOnCover-NilDep120509.pdf

[Holyghost]

I've been scouting for a 0 Dep policy for my friends 2010 model Cruze and this is the update

Bajaj Allianz: We were not able to get a quote online since Cruze was not listed. Called the customer care and the execute told they dont provide insurance for Chevy Cruze and he did not know why. However, other cars from Chevrolet was listed including Captiva and Trailblazer.

Tata Aig: The agent promised 0% Dep policy since according to his calculation, the vehicle is 7 years old and Tata AIG provides 0 Depreciation for 7 year old vehicles, provided you do not have any claims in the previous year. However he backed off at the time of payment saying they provide that coverage only upto 7 Years and the car has already completed 7 years

New India: Visited their office in RT Nagar. Bangalore. We were informed that they do not provide 0% Dep for vehicles beyond 5 years. The car was currently with New India 0% Policy and the person was surprised to see that this car despite being 6 Year old had a 0% Dep Policy from New India.

Oriental Insurance: Talked to the Manager (Yelahanka Branch) and he mentioned the Oriental provides 0% Dep policy for its existing customers upto 10 Years. You have to be their customer from year 5 and you can continue 0% Dep for upto 10 Years. I have to say that the Manager was very polite and answered all our questions clearly and patiently. I was very surprised to see such customer friendly people in a Govt Office.

Iffco Tokio: They have this weird IDVs and even their agents do not know how it works or for how long they give 0% Dep policy. Their website showed a 0% Dep policy quote for Rs 55000 with an IDV of 15Lakhs for an 8 year old Cruze LTZ AT. If we select Cruze LTZ (Non AT model) IDV becomes 8.15 lakhs with a premium of 32000. Talked to their agent and he said nothing can be done from their end to reduce the IDV nor did he have an explanation for 15L IDV for a 8 year old car. He said if we want we can go with LTZ instead of LTZ AT else we will have to pay 55K for 15L IDV.

Talked to another agent from IffcoTokio and he also said the same thing but he also assured that we can go with LTZ instead of LTZ AT and later he will add an Endorsement to change the model from LTZ to LTZ AT. Based on his advice we paid the premium of Rs32K (IDV 8.15) online and received the policy. A day later, we got the endorsement stating the model has been updated to LTZ AT.

So in the end, we managed to get a 0% Dep policy for an 8 year old car. The premium paid is more than twice of what it would have costed for a normal policy. But considering the cost of repairs for a vehicle like Cruze and the amount that was claimed in the last couple of accidents, there is no regret.

[SwiftSD]

My car insurance is due for renewal this month end (Jan’18). It’s a Maruti Swift (diesel) registered 2012 thus it would be insured for the 7th year. Most of the insurance companies do not seem to provide 0 depreciation policy after the completion of 5 years however during the last year’s renewal, I did the renewal before the car was completing its 5th year as per the registration date and I could get the bumper-to-bumper policy applicable for the 6th year.

I was trying to get the quotes for renewal this year and can see that only Iffco Tokio is providing quotation for 0% depreciation policy.

My current location is Kolkata and wanted to get some inputs if I should go ahead with Iffco Tokio.

1. Any firsthand claim experience from the 0 depreciation policy offered by Iffco Tokio ?
2. Any inputs regarding the service of Iffco Tokio in Kolkata for Maruti cars?

Thanks,
SD

[ghodlur]

Originally Posted by SwiftSD

1. Any firsthand claim experience from the 0 depreciation policy offered by Iffco Tokio ?
2. Any inputs regarding the service of Iffco Tokio in Kolkata for Maruti cars?

The best people to tell the claim process efficiency of Iffco Tokio is the workshop where you generally service the car. Most workshops generally do not have a cashless tie up with Insurance cos where 1) they do not get a good commission rate 2) Too many hassles when dealing with the Insurance co staff/surveyors.

For zero dep add ons, request you to read the clause wordings before you proceed to buy.

[carbookie]

My XUV has HDFC ERGO zero depreciation policy.
I had a own damage today. My bumper, one metal panel and back light are completely damaged.


Any ideas what will be cost of repair without insurance?
And any ideas what will be the cost of repair If I use my zero dep policy with HDFC ERGO. My compulsory deductible is 2000/-.