BMW has a Special Insurance Package!?

Insane Devil · 19th May 2008, 16:56

Hi all,

Recently i came to know from my cousin in Chennai, who has an insurance broking firm, that Bajaj Allianz has tied up with BMW and come out with a new insurance package for the BMW's which only the Dealers are supposed to market, not the insurance firms.

It goes like this..
The premium will be around 20-25% more than the normal Insurance.
In this package, there will not abe any depreciations on the claims that u make, and thee will be no "only 50% on plastic, rubber and electronics, stuff" . i.e

What he says is Everything u claim, will be paid in FULL, no deductions at all.
Also, if u even have a small scratch on the door, u can get that also done, and they will replace the door in it for u!

Now buying a BMW, which starts off from the 30lk mark, i think this package is well worth it, paying a lil more every year, and being in peace for life!

I want to know how far this is true, and if this thing really does exist! Has anyone heard of it, all u bmw owners here.

If in accident, generally the headlight goes, and its very expensive in the BMW, starts off from 30k+ for the headlamps. So in this case from insurance we can get full claim, unlike only 50% for in normal cases.

@ Sahil, if u read this thread, Did u hear about this package? or could u call up ur dealer and find out?

Thanks.

F50 · 19th May 2008, 18:14

Yes this is true, Bajaj Allianz has made a pact with them.
Im not sure but it was decided in June-July last year.

Sahil · 19th May 2008, 20:56

I happen to speak to the dealer today regarding the extended warranty and he mentioned this insurance to me again. Even while booking I was informed abt this but I didn't take it as I had 65% no claim bonus from my previous car.
Now they are willing to transfer my insurance and bonus over, he is to get back to me with more details this week, will keep u informed. It also includes tyre insurance which is a boon for cars on run flats, I think even wear and tear is included.

abhinav.gupta88 · 19th May 2008, 21:49

This will be good for u sahil. Peace of mind. I just wish someone comes with such an isurance plans for C or D Segment cars also.

GTO - Touring · 20th May 2008, 00:21

BMW is really going all out to get the "controlled cost of ownership" message out to potential customers, isn't it?! Lets consider the numbers....a 3 series would cost in the region of 80,000 to insure. You mention that the premium package is offered at a 20 - 25% premium and thus, about Rs. 20,000 more per year.

Good for those who need it and great to have the choice. But I probably wouldn't go for this. In the last 5.xx years of Benz ownership, we have had 0 accidents. The only insurance claim was for a front windscreen (raining coconuts!!!) where the deductible was zero.

Insane Devil · 20th May 2008, 01:18

Quote:

Originally Posted by Sahil

I happen to speak to the dealer today regarding the extended warranty and he mentioned this insurance to me again. Even while booking I was informed abt this but I didn't take it as I had 65% no claim bonus from my previous car.
Now they are willing to transfer my insurance and bonus over, he is to get back to me with more details this week, will keep u informed. It also includes tyre insurance which is a boon for cars on run flats, I think even wear and tear is included.

Sahil, u got 65% NCB!!!!! u lucky dawg! I am at 35% now, come july, and it will go up to 40%!

Well, i am sure u know this, but still informing u, If u make a claim at any time, u will lose all the NCB, and u will never again get 65% in ur life again, as the maximum now is 50% only. Only ppl who have had 65% done before the 50% rule came in, only they get to still enjoy ther 65% NCB!

BTW, i am realy happy to hear that there really is such a scheme from Bajaj Allianz, and if i end up with a BMW, will DEFINATELY go for this pack!

khoj · 21st January 2010, 03:09

Quote:

Originally Posted by abhinav.gupta88

This will be good for u sahil. Peace of mind. I just wish someone comes with such an isurance plans for C or D Segment cars also.

Guys,

The NO Depreciation insurance product is available with most insurance companies and for all segments of cars. The only catch is that it is available only at the time of purchase of a new vehicle, one cannot shift from a normal insurance to this product the reverse though is allowed.

You can also adjust your NCB from your old policy against the first premium.

It is not promoted aggressively as the premium is stiff and agents are afraid of losing business in face of lower quotes from regualr policies.

I feel if you are buying anything above 8L it is totally worth the higher premium.

nadim_90210 · 21st January 2010, 17:11

Yeah...its called the BMW Secure....We payed a premium of 1.5 lakh for the secure & so far my father has managed to bang the car atleast 3-4 times in 6 months....a wooping 3.5 lakhs worth damages. Total charges 4.5k (1.5k claim charges) that all we have paid.

Speeding@160mph · 21st January 2010, 18:04

Audi offers the exact same as 'Audi Secure' - i was fishing for a BMWesque extended warranty but was offered this instead. Didn't get details as to the provider of the Insurance but the premium is around 90k - with a little push, they give the 1st year Secure free on an A4

khoj · 22nd January 2010, 00:55

Quote:

Originally Posted by Speeding@160mph

Audi offers the exact same as 'Audi Secure' - i was fishing for a BMWesque extended warranty but was offered this instead. Didn't get details as to the provider of the Insurance but the premium is around 90k - with a little push, they give the 1st year Secure free on an A4

If you do not mind sharing, let me know as to what model of A4 is this and what is the ex showroom value being offered?

Sudan_NFS · 22nd January 2010, 02:10

It's seems to be a good option and i think this might catch up soon in all segements.
So finally our insurance industry is growing!

lamborghini · 22nd January 2010, 03:24

Quote:

Originally Posted by GTO - Touring

\
Good for those who need it and great to have the choice. But I probably wouldn't go for this. In the last 5.xx years of Benz ownership, we have had 0 accidents. The only insurance claim was for a front windscreen (raining coconuts!!!) where the deductible was zero.

GTO, one thing I have noticed, the Mercedes generally has a better paint qualiuty than BMW.
In fact, I would go to the extent of saying that the Mercedes Paint quality, specially on the bumper is almost scratch free!
Our Mercedes, is 5.xx years old as well, and has no scratches on the bumper, with the same driver driving it, with as much care, on similar roads, as the BMW.
The BMW on the other hand has 2 scratches on the front and rear bumper.

Wish we had opted for this insurance. Then, with a 5 year BMW Secure Warranty, and Insurance, an owner is set to have a 0 maintainance plan and peace of mind!
This is what Mercedes owners will want when they change cars, and BMW offers it.
Explains the sales, as the owner will only have to pay maybe 5% of the cars price to maintain it over 5 years, not counting fuel expenses.
Compare that to the 15% (in many cases higher), a Mercedes owner would pay in the same period.

Wish they had one for 7 years as well, for those who want to keep the car for longer.

gs2660 · 14th February 2010, 19:00

Yup buddy, what you heard was true. Even your tyres including the logos are covered.

tacho · 14th February 2010, 21:32

So with this insurance package, the insurance guys will pay 100% of the repair costs even it is a 3 year old car? My knowledge might be outdated, but last I heard, insurance in India only pays for a part of the repair costs depending on how old the car is.

kanwar_26 · 15th February 2010, 16:01

These insurance schemes seems to be wonderfull

,but can anybody explain how is it profitable to insurance companies?

19th May 2008, 16:56	#1
Insane Devil BHPian Join Date: Mar 2005 Location: Hyderabad Posts: 987 Thanked: 173 Times View My Garage	BMW has a Special Insurance Package!? Hi all, Recently i came to know from my cousin in Chennai, who has an insurance broking firm, that Bajaj Allianz has tied up with BMW and come out with a new insurance package for the BMW's which only the Dealers are supposed to market, not the insurance firms. It goes like this.. The premium will be around 20-25% more than the normal Insurance. In this package, there will not abe any depreciations on the claims that u make, and thee will be no "only 50% on plastic, rubber and electronics, stuff" . i.e What he says is Everything u claim, will be paid in FULL, no deductions at all. Also, if u even have a small scratch on the door, u can get that also done, and they will replace the door in it for u! Now buying a BMW, which starts off from the 30lk mark, i think this package is well worth it, paying a lil more every year, and being in peace for life! I want to know how far this is true, and if this thing really does exist! Has anyone heard of it, all u bmw owners here. If in accident, generally the headlight goes, and its very expensive in the BMW, starts off from 30k+ for the headlamps. So in this case from insurance we can get full claim, unlike only 50% for in normal cases. @ Sahil, if u read this thread, Did u hear about this package? or could u call up ur dealer and find out? Thanks.
	() Thanks

19th May 2008, 18:14	#2
F50 Senior - BHPian Join Date: Mar 2004 Location: Mumbai/USA Posts: 1,707 Thanked: 103 Times	Yes this is true, Bajaj Allianz has made a pact with them. Im not sure but it was decided in June-July last year.
	() Thanks

19th May 2008, 20:56	#3
Sahil Distinguished - BHPian Join Date: May 2004 Location: Bombay Posts: 6,292 Thanked: 7,607 Times	I happen to speak to the dealer today regarding the extended warranty and he mentioned this insurance to me again. Even while booking I was informed abt this but I didn't take it as I had 65% no claim bonus from my previous car. Now they are willing to transfer my insurance and bonus over, he is to get back to me with more details this week, will keep u informed. It also includes tyre insurance which is a boon for cars on run flats, I think even wear and tear is included.
	() Thanks

19th May 2008, 21:49	#4
abhinav.gupta88 Senior - BHPian Join Date: Sep 2007 Location: Delhi , India Posts: 4,092 Thanked: 325 Times View My Garage	This will be good for u sahil. Peace of mind. I just wish someone comes with such an isurance plans for C or D Segment cars also.
	() Thanks

20th May 2008, 00:21	#5
GTO - Touring BHPian Join Date: Aug 2004 Location: Mumbai Posts: 710 Thanked: 54 Times	BMW is really going all out to get the "controlled cost of ownership" message out to potential customers, isn't it?! Lets consider the numbers....a 3 series would cost in the region of 80,000 to insure. You mention that the premium package is offered at a 20 - 25% premium and thus, about Rs. 20,000 more per year. Good for those who need it and great to have the choice. But I probably wouldn't go for this. In the last 5.xx years of Benz ownership, we have had 0 accidents. The only insurance claim was for a front windscreen (raining coconuts!!!) where the deductible was zero.
	() Thanks

21st January 2010, 17:11	#8
nadim_90210 BHPian Join Date: Jan 2010 Location: Mumbai Posts: 98 Thanked: 18 Times View My Garage	Yeah...its called the BMW Secure....We payed a premium of 1.5 lakh for the secure & so far my father has managed to bang the car atleast 3-4 times in 6 months....a wooping 3.5 lakhs worth damages. Total charges 4.5k (1.5k claim charges) that all we have paid.
	() Thanks

21st January 2010, 18:04	#9
Speeding@160mph BHPian Join Date: Aug 2008 Location: Delhi Posts: 185 Thanked: 6 Times	Audi offers the exact same as 'Audi Secure' - i was fishing for a BMWesque extended warranty but was offered this instead. Didn't get details as to the provider of the Insurance but the premium is around 90k - with a little push, they give the 1st year Secure free on an A4
	() Thanks

22nd January 2010, 02:10	#11
Sudan_NFS BHPian Join Date: Aug 2009 Location: chennai Posts: 759 Thanked: 16 Times	It's seems to be a good option and i think this might catch up soon in all segements. So finally our insurance industry is growing!
	() Thanks

14th February 2010, 19:00	#13
gs2660 Newbie Join Date: Sep 2009 Location: MUMBAI Posts: 4 Thanked: 0 Times	Yup buddy, what you heard was true. Even your tyres including the logos are covered. Last edited by GTO : 15th February 2010 at 13:20. Reason: Strictly NO SMS / SLANG language please. You need to use full and complete English on this forum
	() Thanks

14th February 2010, 21:32	#14
tacho BHPian Join Date: Jan 2005 Location: Hyderabad Posts: 135 Thanked: 31 Times View My Garage	So with this insurance package, the insurance guys will pay 100% of the repair costs even it is a 3 year old car? My knowledge might be outdated, but last I heard, insurance in India only pays for a part of the repair costs depending on how old the car is.
	() Thanks

15th February 2010, 16:01	#15
kanwar_26 Newbie Join Date: Jun 2006 Location: Ahmedabad Posts: 21 Thanked: 166 Times	These insurance schemes seems to be wonderfull ,but can anybody explain how is it profitable to insurance companies?
	() Thanks