Insurance Queries - BMW Tie-up or Dealer Tie-Up. BMW Secure Yes or No
Quote:
Originally Posted by Turbanator So, be careful at the time of service, If in doubt, post an estimate here and someone will help. |
Hi,
It’s coming to that time of the year when we need to renew the insurance on our 530D.
Tried posting this query first under Team-BHP Reviews > Indian Car Loans & Insurance > Automobile Insurance Queries? Ask me - but got only one response which didn't really help to decide. That's when I thought should ask here for advice. If this is incorrect or inappropriate kindly delete this.
For the 1st year had taken the insurance from the dealership which was ICICI Lombard. As there was a complimentary BMW Secure being offered for the 1st year the ICICI policy add-on coverages only included Zero Dep, Consumables & RTI.
For the current renewal as there was a claim during the 1st year, have been given the following options from the dealership.
BMW Secure Renewal (policy attached) which does not include Engine Protect from year 2 – Rs. 41300. Was wondering whether we should consider renewing it for the RSA facility as most of our running so far has been on highways outside the state.
Insurance Options
A. BMW Tie Up – Cashless all over India.
1. ICICI Lombard with add ons of Zero Dep, Consumables, RTI & Engine Protect – Rs. 2,53,276.
2. Bajaj Allianz with add ons of Zero Dep, Consumables, RTI & Engine Protect – Rs. 1,92,626.
B. Dealership tie up – Cashless only at the Dealership. Salvage deduction of 5% on Metal Parts in case of claim
1. New India with add ons of Zero Dep, Consumables, RTI & Engine Protect – Rs. 1,69,618.
2. New India with above + addition of Tyres, RSA & Key Lost – Rs. 1,88,139.
3. Tata AIG with similar cover as S. No. 2 above – Rs. 3,63,039.
4. HDFC Ergo with the add ons of Zero Dep, Consumables, Engine Protection & NCB Protection, RTI - Rs. 1,15,887.
If we were to add on Tyre Secure it would go up to 1,26,776.
Point to note the IDV of Tata AIG is Rs. 6,30,000 higher than all the others.
We tried with our insurance agent who handles all our other insurance requirements business related and other vehicles as well but his quote was higher.
Would like some help to decide.
1. Should we go for the BMW Secure.
2. Should we go for the BMW Tie Up Insurance or the Dealership Tie Up.
If we were to choose it would be either Bajaj Allianz / HDFC. Unsure about whether BMW Secure is worth 41K just for RSA & Alloys. Key is covered by HDFC, Tyres can be covered by HDFC at an additional cost of 11K.
Advantages of Bajaj Allianz is that its a BMW Tie Up. Cashless facility available all over India.
Negative is that they don't offer NCB Protection & costs about 77 K more.
Advantages of HDFC Ergo other than that its 77K cheaper is that it offers NCB protection.
Disadvantages is that cashless facility is only available at the dealership in Kerala and that there is a mandatory salvage deduction of 5% on metal parts.
Any suggestions would be more than welcome.
Thanks in advance.