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Old 11th October 2018, 22:30   #391
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Default Re: Hyundai Verna : Official Review

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Originally Posted by pathik View Post
What's the IDV for your car on your new insurance policy? I got Zero-dep insurance renewed for my EX AT Diesel with an IDV of 10L for ~ 27k. Tata AIG.
10% depreciation on the initial IDV, which reduced the IDV to 11 lakhs.
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Old 14th October 2018, 20:11   #392
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Default Re: Hyundai Verna : Official Review

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Originally Posted by clevermax View Post
10% depreciation on the initial IDV, which reduced the IDV to 11 lakhs.
As per rules its 10% for the 1st year but I have got a quote with only 5% depreciation to IDV. I have a Diesel SX(O) with ex showroom around 12L and I got a 2nd year IDV for 11.40L.

The quote is 45,555 with IDV 11.40L and Zero Dep (unlimited), RTI and Engine Protect.
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Old 14th October 2018, 22:36   #393
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Default Re: Hyundai Verna : Official Review

Had placed an order for Verna EX Petrol Automatic and am informed after 15 days of placing the order that the variant's production is now discontinued.

Strange decision by Hyundai
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Old 15th October 2018, 10:47   #394
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Default Re: Hyundai Verna : Official Review

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Originally Posted by hardilip View Post
Anyone got their insurance renewed for the 2nd year? I have an Insurance from ICICI Lombard thats from Hyundai Assurance Program.

They have given me a quote for 45K
Hi Hardilip!

The quote seems to be on the higher side. I have just renewed my insurance for the second year at about Rs 29830. One reason could be that I enjoy 50% NCB as I had transferred my earlier car's insurance to this one during the purchase.

Encapsulating my experience as follows:

1. Spoken to several unsolicited callers, visited coverfox.com and also spoke to existing service provider Tata AIG.

2. After looking at various players, found that Tata AIG was was most efficient. Some like Kotal offer lower premiums, but at a lower IDV which is not what I wanted to do.

3. Spoke to Tata AIG over the CC helpline, and they knocked off about Rs 1000 to close the deal. Incidentally, my broker was not interested to negotiate and had told me no discount was possible - so take things in your own hands

4. I was advise by a coverfox agent that since I am taking Return to Invoice, I should go for low IDV to reduce the premium amount. This is a downright stupid advice as RTI is available only for the first 3 years. So lowering the IDV now means that you will be stuck with a sub-optimal IDV of your beloved car.

5. I have renewed my package for Zero-Dep, RTI, Engine secure, Tyre secure and consumables.
Loss of personal belongings is vestigial actually, as it comes with T&C which will never be met, and for coverage that is pittance. But you cannot take it out as it is a part of the umbrella package. I however got Rs 100 knocked off for RSA as Hyundai provides it FOC for 3 years.

6. Key Replacement is desirable, but using this service tantamounts to one insurance claim. So you are left with just another insurance claim for the rest of the year.

7. Tata apparently offers only 2 claims per year, and offers cashless only in Delhi NCR - pls revalidate this.
However I thought I would ideally not want to ever use my insurance, so I am happy with the 2-claim policy. Who wants unlimited claims!

I am attaching my policy for your reference. Hope this helps you negotiate a good deal.

Cheers!
Attached Files
File Type: pdf Ver.pdf (664.8 KB, 35 views)
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Old 16th October 2018, 13:33   #395
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Default Re: Hyundai Verna : Official Review

Quote:
Originally Posted by AjayJohri View Post
Hi Hardilip!

The quote seems to be on the higher side. I have just renewed my insurance for the second year at about Rs 29830. One reason could be that I enjoy 50% NCB as I had transferred my earlier car's insurance to this one during the purchase.

Encapsulating my experience as follows:

1. Spoken to several unsolicited callers, visited coverfox.com and also spoke to existing service provider Tata AIG.

2. After looking at various players, found that Tata AIG was was most efficient. Some like Kotal offer lower premiums, but at a lower IDV which is not what I wanted to do.

3. Spoke to Tata AIG over the CC helpline, and they knocked off about Rs 1000 to close the deal. Incidentally, my broker was not interested to negotiate and had told me no discount was possible - so take things in your own hands

4. I was advise by a coverfox agent that since I am taking Return to Invoice, I should go for low IDV to reduce the premium amount. This is a downright stupid advice as RTI is available only for the first 3 years. So lowering the IDV now means that you will be stuck with a sub-optimal IDV of your beloved car.

5. I have renewed my package for Zero-Dep, RTI, Engine secure, Tyre secure and consumables.
Loss of personal belongings is vestigial actually, as it comes with T&C which will never be met, and for coverage that is pittance. But you cannot take it out as it is a part of the umbrella package. I however got Rs 100 knocked off for RSA as Hyundai provides it FOC for 3 years.

6. Key Replacement is desirable, but using this service tantamounts to one insurance claim. So you are left with just another insurance claim for the rest of the year.

7. Tata apparently offers only 2 claims per year, and offers cashless only in Delhi NCR - pls revalidate this.
However I thought I would ideally not want to ever use my insurance, so I am happy with the 2-claim policy. Who wants unlimited claims!

I am attaching my policy for your reference. Hope this helps you negotiate a good deal.

Cheers!
Hi Ajay,

Thanks for the information. After looking at your policy, I understand my quote is way to high. When I compare your quote with mine, the differences are, IDV is roughly 90K more and I dont have NCB rest all including the addons are the same. Ideally both of this should add upto 6 - 7K over your premium rather mine was bloated to 16K. I think fairly 36K should be acceptable quote (NCB: 5K + 1K more for increased IDV).

Thanks once again for the information, I should start the negotiation. I still have time till December end and I don't think I should rush on this.
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