Team-BHP - 0% Depreciation Insurance - It really worked for me!

Quote:

Originally Posted by Sam Kapasi (Post 2184315)

Absolutely correct. My insurance consultant had taken an insurance on the insurance.

The endorsements on the insurance included

TA01 - Reibursement of all depreciation
TA02 - Daily Allowance
TA09 - Loss of personal belongings
TA10 - Emergency transport and hotel expenses
(TA15) - Key replacement

What did all of this mean to me?

> TAIG has agreed to pay 100% of all plastic and glass parts to the service centre.

> TAIG has agreed to pay me Rs. 2000/- per day to rent a car to go to work while the car is at the garage. (Only for 10 days though)

If I'd had an accident outside Mumbai and needed a hotel room, TAIG would have paid for the hotel room too and for the transport back to Mumbai (within reason)

These were all endorsements insisted upon by my insurance consultant, that brought the basic insurance of the superb UP by about 10 or 12K.

Today I understand the intelligence behind paying that additional amount.

I'm sorry if that sounds naive to some of you experienced people, but I used to look for the cheapest insurance earlier and never take any add-ons. I won't do that every again.

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

The End.

Woah! I always do this! Looking for cheap insurance. I will never ever do this again. Thanks for this!!!! I will surely look for the most add-ons!

Quote:

Originally Posted by Metallicar (Post 3774516)

.....

Last month my cousin had an accident. He was not wearing seat belts so the airbags didn't deploy.

Damage - Windshield, Bonnet, RHS side view mirror, Bonnet, Front bumper, Side fender and front headlights all gone.

Garage's bill was 33k. I got 30k from the insurance company.....

Do the policies also cover medical / hospitalization expenses for occupants? We used to get this endorsed on company vehicles when only nationalised company's used to rule the roost.

Quote:

Originally Posted by Prithwitheraj (Post 3842149)

Guy's

A question am pondering now that my insurance renewal is due - i've got Tata Aig Pearl plan - The question is would the vehicle IDV reduce second year even if it's a 0 dep policy ? And apart from 20% NCB how much I should negotiate to reduce?

Thanks a lot in advance

I have renewed thrice and claimed ones, 0 dep insurance policy for my jetta. Yes the IDV will reduce according to depreciation rate for the car. Zero dep is still valid when time comes to repair your car under claim. The parts will be replaced at current market rate only, you just have to pay minimum mandatory deductions.

Try changing insurance company, to ICICI lombard or bajaj. Your NCB will still be applicable and you may get some discount for online renewal etc.

Quote:

Originally Posted by Prithwitheraj (Post 3842149)

I believe the 0 Depreceation does not mean the IDV of the vehicle will be the same. 0 Dep means that when you claim for insurance, they will not deduct the amount for each replaced part based on depreceation. So when you make a claim, all the parts replacement will be done at the present market value. The Vehicle IDV will be reducing every year independent of this. Experts can correct me it I am wrong.

Quote:

Originally Posted by McLaren Rulez (Post 3891702)

Can someone post a sample of their zero dep policy? I have paid for one and don't intend to claim now, but I can't find the place on my policy where it says that I have the zero depreciation cover.

My policy is by Bajaj Allianz for a VW Polo.

I guess it should mention Depreciation shield. Not sure though

Quote:

Originally Posted by McLaren Rulez (Post 3891702)

Bajaj sometimes uses codes to specify your add on coverage. Look for S1 and S3 codes on your policy. S1 is 24x7 and S3 is Depreciation Shield.

My current policy mentions Drive Assure but previous policies mentioned only S1, S3 and S4

So both ORVMs of my dad's Grand i10 got stolen last night. The car is covered by 0dep and is a year and a half old. Is this theft covered in insurance?
Anybody has any idea how much it costs to get it installed from Hyundai?
I'd probably go for the insurance as we've already taken a claim this year so the no claim bonus is gone.

Quote:

Originally Posted by Magemegento (Post 3891861)

Hello Magemegento,
So sorry to read about your dad's ORVM being stolen. To the best of my knowledge thefts are covered under car insurance. As far as the price of fixing an ORVM is concerned it depends on the model of Hyundai Grand i10 you drive. For higher versions of the car like Sportz & Asta where turn indicators are mounted on the ORVM you will end up paying Rs 4000 to 5000 for each ORVM and if your car is of Era or Magna it will cost somewhere in the range of Rs 1000 to 2000.

Hope this helps.
Keep safe!

I bought New Ford Figo with 0% depreciation policy in Oct 2015; I got nice dent on front bumper in 4th month which is not repairable as per bodyshop supervisor who inspected my car. He said since this is new car I should get it replaced by claiming insurance. He said I need to pay 1000 Rs for claiming insurance + 8 % charges on replaced part. I doubt his quote and took car back to home since I needed car for some personal work. I haven't gone back to showroom yet neither verified quote with other showroom yet.

Guys do you think additional 8 % is too much for Zero depth insurance?:Frustrati

Quote:

Originally Posted by nilpat (Post 3961462)

For zero dep only 1000 is payable unless you have added additional deductibles to reduce the initial insurance amount

Quote:

Originally Posted by nilpat (Post 3961556)

Thanks Ssateesh. Is there any clause for timeline for notifying insurance company since its been more than couple of month since the incident took place. Also I'm afraid if insurance will get rejected due to nature of the damage. May be posting a snap here would bring more clarity?

Same happened with me for my New Figo. Front bumper got scratched at dealers premise itself during attending Fords recall for airbag patch update. Supervisor advised me to claim the insurance. I told him that I don't have bumper to bumper insurance and asked him to suggest any other option so that I would not loose any NCB. He then asked fitter and shop painter to clear the scratch with paint n polish. They did some nice job now scratch it not an eyesore.

The reason I didn't claim the insurance, as the car is new and still there will be more chances in the future to get it scratched again. So I will change the bumper in the future once for all.