[Dry Ice]

Originally Posted by dkaile

Not to forget there is a 4 years extended warranty on these cars which has got nothing to do with comprehensive Insurance. For the companies mistakes, I am covered.

I also cut down my risks by -
- Having a secure parking place
- Being a careful driver
- Being pro-active at the ASC
- Enable good anti-theft systems in all your vehicles. Fortuner and Superb especially have very solid anti theft measures in place and it's not an easy job stealing them.

And for my mistakes, I am ready to live life on my terms and ideas. Has worked so far....

The thing(s) that worry me the most (and I end up going for a comprehensive cover) are theft and total loss. We stand to lose a substantial amount in either of these cases, even if the vehicle is 2-3 years old.

What was your rationale when you went for it the first time? Coz at that point I am sure these savings from less insurance premiums would not have been there.

[dkaile]

Originally Posted by Dry Ice

What was your rationale when you went for it the first time?

I came to realise that for normal bumps I was not getting them repaired at the ASC due to the fear of loosing the NCB. Then got scammed off when one of my car's got stolen and they offered me such a paltry amount as final payment after deducting depreciation and what not that something just misfired in my mind against these Insurance Company scammers. Luckily the car got found by the police just a day or so before they were to give me the cheque. I sold it eventually at a much higher price. So, that experience left a very bitter taste in my mouth and eventually decided to go in for only 3rd party insurance after the 1st year for all my vehicles. Have been living happily ever after...

[Grr7]

Originally Posted by drmohitg

Are you sure on this? The last I heard was that its available for the first three years of your new car. And recently some companies started offering it till 5 years.

Here are the parts of my car's policy showing 2003 manufacturing year and zero depreciation clause. I never had an incident to avail advantage of my zero depreciation policy in first nine years of my ownership is a different story though.

[vinayakdshenoy]

Read the entire thread in one sitting. One thing I have learnt is the pain four-wheeler owners go through every time someone crashes into their car, their pride and joy! It makes me a, a two-wheeler owner more empathetic towards all the pain and misery they potentially go through to fixes the scratches / broken ORVMs, etc. that I see so many two-wheelers carelessly become a cause of due to rash driving (just in an attempt to go a few metres further in traffic).

While I have never been part of such a group of two-wheeler riders (who leave behind a small accident in their wake), I admit I too have split-laned my way forward in traffic smirking at the patience of the four-wheeler owners who religiously follow lane driving. The potential of my behaviour leaves me humbled and ashamed (a bit).

Thanks to Team-BHP and you all for making me a more enlightened, careful, sensible and empathetic rider on roads!!!

<Potential four-wheeler owner in the future!>

[pahwa]

Here's a quotation from my insurance agent on TATA AIG Pearl plan. No one else was giving a bumper to bumper coverage for 3 year old Chevy Spark LS -

Vehicle Value ( IDV ) : 2,00,000/-
NCB : 35% (NO CLAIM BONUS)
Third Party Premium : 941/-
Owner coverage : 100/-
Driver : 50/-
Service Tax : 12.36%
PREMIUM : 4,585/-
ADD ON PEARL PREMIUM : 2,230/-
TOTAL PAYBLE AMOUNT : 6,929/- ( WITH ADD ON 100% COVER PEARL PLAN )

ADD ON DETAILS
PEARL PLAN
1) Depreciation Re-imbursement
2) Repair of Glass, Fiber, Plastic & Rubber Part
3) Loss of personal belongings
4) Emergency Transport & hotel expenses
5) Key Replacement

[GTO]

Worked for my brother-in-law too! An eye-watering 8.5 lakh repair bill for his SUV. He only paid 4k at the time of delivery, thanks to zero-dep insurance.

Link to Post

A must-have policy for premium cars.

[DevendraG]

Hi,

I have a Hyundai i20 Magna (2012). I'm renewed my Insurance this year with Zero Depreciation Cover (HDFC Ergo).

I met with an accident last month for which the repair estimate is 1.4L.

What charges would need to be borne by me apart from the below?
1> Claim Charges
2> Consumables

[rm_arjuna]

Inspite of 2 yrs of no claim , all insurance cos refused to issue Zero dep policy while renewing for my scorpio, hence i was forced to take comprehensive policy ,now for my 4th year renewal only Royal sundaram was willing to issue Zero Dep at almost 70% more than normal insurance premium.

[arun_josie]

I have a Zero depreciation policy from Royal Sundaram, they are saying that if the repair cost is more than 40% of the Vehicle IDV then they can declare it as total-loss, is this true?

[Pedaltothefloor]

I need to renew the insurance for my 2 year old Punto. Last year I paid 17K to HDFC Ergo for a Zero Depreciation policy but this year they are asking for 19K. If I let go of the "Zero Depreciation" add on, the premium is reduced to 13K.

I am still not sure about the benefits of zero depreciation cover. If the car is stolen, the insurance company will pay only the insured IDV of the car, which is 6,60,000 as of now. What is the befit of paying the additional 6K towards zero depreciation?

[drmohitg]

My friend recently bought a mercedes C class and bought a 0% dep policy from Bajaj Allianz. The car is merely 6 month old and has run only 500 kms. Last week while travelling on Delhi Chandigarh route the car went in a pothole and the front left tyre got a side wall cut and the alloy broke! To my surprise the insurance agent termed it as wear and tear and said it will not be covered. Friend's dad reluctantly paid for a new tyre and alloy. A week later apparently the other front tyre is losing air because of a bent alloy rim.

Aren't tyres and alloys too covered under insurance? The bajaj guy told them that if it would have a accident then they would have covered but since it was due to a pothole it will be considered as wear and tear and not covered. Help Please!

[275BHP]

Originally Posted by drmohitg

Aren't tyres and alloys too covered under insurance? The bajaj guy told them that if it would have a accident then they would have covered but since it was due to a pothole it will be considered as wear and tear and not covered. Help Please!

I doubt they are covered under normal insurance as such. Recently, I renewed the insurance for my BMW. The branch manager of the insurance company pointed out that if I wanted tyre and alloy wheel cover I would have to take an add on policy in addition to my existing 0 depreciation policy.

Not sure how the Bajaj guy considers what happened to your friend's car as wear and tear though.

[dass]

Originally Posted by Pedaltothefloor

the insurance company will pay only the insured IDV of the car, which is 6,60,000 as of now. What is the befit of paying the additional 6K towards zero depreciation?

Are you sure the IDV of the 2 year old punto is 6.6L? My Dzire is a year old and the IDV being quoted is around 5.8L. The first year IDV was 6.7L.

I would always suggest a 0 Dep policy, as in case of a claim, the hole to your pocket is VERY limited.

[Pedaltothefloor]

Originally Posted by dass

Are you sure the IDV of the 2 year old punto is 6.6L? My Dzire is a year old and the IDV being quoted is around 5.8L. The first year IDV was 6.7L.

I would always suggest a 0 Dep policy, as in case of a claim, the hole to your pocket is VERY limited.

Thanks. I will stick to zero depreciation policy. Even my research on google today suggested the same.

And the IDV is correct. I think the ZDI version costs the same as the current 90HP. Which model do you have?

[dass]

Originally Posted by Pedaltothefloor

Thanks. I will stick to zero depreciation policy. ---Good choice
And the IDV is correct. I think the ZDI version costs the same as the current 90HP. Which model do you have?

Makes perfect sense, mine is a VDI.