[ghodlur]

Originally Posted by 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/-.

Regarding the repair cost, you will need to post on the XUV threads.

Regarding Insurance, if the repair cost is more than the NCB amount saved, then it is better to claim Insurance. If you claim insurance, apart from the compulsory deductible, you will also need to pay the consumable cost unless you have opted for the Consumable add on cover too.

[vinodh_eee]

I have a query regarding zero dep insurance. Does the IDV remain at ex-showroom price? Or does it reduce as per vehicle age and the zero dep portion is included as an add-on?

[ayankm]

Originally Posted by vinodh_eee

I have a query regarding zero dep insurance. Does the IDV remain at ex-showroom price? Or does it reduce as per vehicle age and the zero dep portion is included as an add-on?

The IDV changes every year and it follows the below format:
Age of the Vehicle ------ Percentage of depreciation for fixing IDV
Not exceeding 6 months ------ 5%
Exceeding 6 months but not exceeding 1 year ------ 15%
Exceeding 1 year but not exceeding 2 years ------ 20%
Exceeding 2 years but not exceeding 3 years ------ 30%
Exceeding 3 years but not exceeding 4 years ------ 40%
Exceeding 4 years but not exceeding 5 years ------ 50%
IDV is mostly used if your car is totalled or damaged beyond repair.

Whereas for zero depreciation, in general it means that the policy will offer complete coverage without factoring in depreciation. In other words, if your car gets damaged following a collision, you will receive the entire cost from the insurer.


Regards,
A.

[carbookie]

Originally Posted by 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/-.

Repair cost was 42000 for me.
I had to pay 2700/-


Insurer wanted me to pay for salvage. I refused and stood my ground. Finally HDFC relented and did not charge me for that.

[dreadknight5]

Originally Posted by 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/-.

The Bumper replacement cost will be close to 20k. Even if the bumper is repaired and repainted, it will still come close to 15k for sure. The metal panel repair and paint will come to about 8k. I am not sure about back-light. I think the overall bill should be in the region of 25-30k.

I would advice you to claim insurance if your vehicle is brand new. You won't lose much on defaulting on No claim bonus.

[WheelWake]

Hey Guys,

My insurance is due for renewal on my XUV 500 which will complete 5 years without any claim. However, along this while I have always taken zero DEP policy.
I would like to know if I should go for comprehensive or zero DEP this time around?
Premium just doubles at the current IDV.

Regards & TIA

[ghodlur]

Originally Posted by WheelWake

I would like to know if I should go for comprehensive or zero DEP this time around?

Zero dep is an add on cover for the Comprehensive Insurance policy. Go for the same. The bump in the premium prices is due to the GST, TPL increase. But I guess you have a good cushion in 50% NCB which should bring the premium prices almost at last year's rate not double that last year. Check with the Comparator websites to review the premium rates

[katchkamalesh]

Originally Posted by WheelWake

I would like to know if I should go for comprehensive or zero DEP this time around?

It makes sense to opt for zero dep cover as long as it is offered. In case you make a claim, with a basic car insurance policy, the insurer only reimburses the depreciated value of car parts replaced. Below is the depreciation calculation for your reference

Insurance Regulatory and Development Authority of India (IRDA) has ordained that:

• On Painting – 50% depreciation be deducted,
• On rubber, nylon, and plastic parts, and batteries – 50% depreciation be deducted,
• On fiber glass components – 30% depreciation be deducted, and
• On wooden parts – depreciation be deducted as per the age of car (such as 5% in the first year, 10% in the second year, and so on.)

[rajesh.sml]

Hi All,

I have query on insurance renewal in Covid times. My car (XUV 5OO W8) has completed 6 years and I had zero- depreciation insurance cover till date. Now, I am stepping into 7th year & insurance renewal is due. As the car running has come down drastically due to Covid scenario, I am confused on insurance renewal

1. Shall I continue with zero- depreciation insurance cover for the 7th year as well

2. Shall I switch to lower plan of comprehensive insurance - the difference in premium is 8k ~ 40% lesser

Please suggest

[blackwasp]

Originally Posted by rajesh.sml

1. Shall I continue with zero- depreciation insurance cover for the 7th year as well

I would say go for the 0 dep option as in these uncertain times, any unforeseen expense could cause an issue. Better to pay that 8k for the peace of mind if you can get it for the 8th year as well.

[drmohitg]

Go for 0 depreciation always till you can get one. 8k is too small an amount to not opt for 0 depreciation cover. Even if you take your car out once a month, you would want that peace of mind. Accidents can happen anytime. So I would strongly urge you to opt for it for as long as you can.

[Aaditto]

Originally Posted by Sam Kapasi

I'd also like to add that the experience with TAIG has been painless, convenient and quite delightful.

When I tried to explore T-AIG car insurance online - it seemed the only way to start a new policy for a car is by inputting the REGISTRATION NUMBER of the car.

But don't I need the Insurance to be already in place BEFORE I can apply for the Registration?

So, how does that work?
[Sorry... I am a total noob, when it comes to BUYING a car]

[raktim]

Originally Posted by Aaditto

When I tried to explore T-AIG car insurance online - it seemed the only way to start a new policy for a car is by inputting the REGISTRATION NUMBER of the car.

But don't I need the Insurance to be already in place BEFORE I can apply for the Registration?

Yes, a third party insurance must be purchased before applying for permanent registration number, but only after invoicing is done. For purchasing this, vehicle details, chassis and engine number usually suffice.

[shrinath_m2]

Hi all, in process of claiming insurance, if the insurer is asking me to pay for salvage, can I deny it? Is it worth paying salvage costs and salvaging parts ourselves?