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    Thread: Comprehensive or zero dep cap

    1. #1
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      Comprehensive or zero dep cap

      Respected members,
      What is the simple difference in comprehensive and zero dep cap insurance? In the first year our car had zero dep cap insurance, now the dealer is telling us to go for comprehensive one or comprehensive+zero dep cap, which one is suitable and why? 1 more thing should we stick with skoda dealer and his oriental insurance or shift to some company in the market? he said that just like the zero dep cap, comprehensive or comprehensive+zero dep cap will be cashless.
      many thanks

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      I would always go for Zero Dept Insurance.

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      Quote Originally Posted by KimiRaikkonen View Post
      I would always go for Zero Dept Insurance.
      Thanks, with consumables or without? Are the attached companies any good?



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      Never listen to dealer. They will be hand in glove with the insurance companies and work for their benefits and not for yours. Take a insurance with B2b with max cover. Include whatever addons which is provided. Let me give you a example if your key is lost or damaged you might be charged anywhere between 3K - 5K depending on brand and model of your vehicle. Some insurance companies have a addon cover for Lost / Replacement of Key by paying a amount of Rs. 50 to 100. If you pay that amount you can get your key replaced in insurance without paying a penny. Now if you don't do that tell me who will be at loss and who will be gaining ? Insurance companies do all their canvasing with the dealers to make customers Bhakra. Never fall a prey for it.

      Likewise there will be covers for Windshield claim, if in case your windshield is damaged, you can claim insurance without loosing your NCB (No Claim Bonus), there will be NCB protect which will be offered by some Insurance providers which will be for a small additional fee where in you can make one or two or unlimited claims (depends on service provider). HDFC, ICICI, Tata AIG provides one claim with NCB Protect and IFFCO Tokyo provides unlimited claims and they also have a cover called New Vehicle replacement for some additional premium again.

      All these covers will be having additional amount over your regular premium, trust me do check with Insurance Aggregator portals like Policy Bazaar and Cover Fox. Do your research and understand what covers will be useful for you and then take a call. NEVER Ever listen to dealers for matters like Insurance, Buying Accessories, etc.

      Note: Am not affiliated with any of these insurance providers.

      Quote Originally Posted by akop.4040 View Post
      Are the attached companies any good?
      To choose your service provider, do check with the local trustworthy garages / ASS where you leave your car for service and check with them which Service Provider they have less headaches or quick with Insurance settlements. That way you need not have the headache in mediating between the insurance company and the ASS. Quality of service depends on your city. Down south here Royal Sundaram and Bajaj Allianz are doing a good job. ICICI is a pain with settlements.
      Last edited by Lvramanan; 14th Jan 2019 at 06:25.

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      Quote Originally Posted by Lvramanan View Post
      Never listen to dealer. They will be hand in glove with the insurance companies and work for their benefits and not for yours. Take a insurance with B2b with max cover. Include whatever addons which is provided. Let me give you a example if your key is lost or damaged you might be charged anywhere between 3K - 5K depending on brand and model of your vehicle. Some insurance companies have a addon cover for Lost / Replacement of Key by paying a amount of Rs. 50 to 100. If you pay that amount you can get your key replaced in insurance without paying a penny. Now if you don't do that tell me who will be at loss and who will be gaining ? Insurance companies do all their canvasing with the dealers to make customers Bhakra. Never fall a prey for it.

      Likewise there will be covers for Windshield claim, if in case your windshield is damaged, you can claim insurance without loosing your NCB (No Claim Bonus), there will be NCB protect which will be offered by some Insurance providers which will be for a small additional fee where in you can make one or two or unlimited claims (depends on service provider). HDFC, ICICI, Tata AIG provides one claim with NCB Protect and IFFCO Tokyo provides unlimited claims and they also have a cover called New Vehicle replacement for some additional premium again.

      All these covers will be having additional amount over your regular premium, trust me do check with Insurance Aggregator portals like Policy Bazaar and Cover Fox. Do your research and understand what covers will be useful for you and then take a call. NEVER Ever listen to dealers for matters like Insurance, Buying Accessories, etc.

      Note: Am not affiliated with any of these insurance providers.



      To choose your service provider, do check with the local trustworthy garages / ASS where you leave your car for service and check with them which Service Provider they have less headaches or quick with Insurance settlements. That way you need not have the headache in mediating between the insurance company and the ASS. Quality of service depends on your city. Down south here Royal Sundaram and Bajaj Allianz are doing a good job. ICICI is a pain with settlements.
      Thank you sir for explaining in detail.

      PFA.

      The ncb is auto showing as 20%.
      Last year's idv as mentioned on the older insurance is 2602050/- how much should I set it? Will finalize today itself.
      The dealer quoted me 61k for only zero dep from Oriental, last year it was 67k. They will issue it from some other city in Punjab, their reason because only that branch is qualified to issue at such low rates.
      Got a quote from National insurance for 48k but the insurance is without consumables and the idv is 22.15l. The idv I think is way too low.
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      Quote Originally Posted by akop.4040 View Post
      The ncb is auto showing as 20%.
      That will be the standard percentage after 1st year without any claims.

      Quote Originally Posted by akop.4040 View Post
      Last year's idv as mentioned on the older insurance is 2602050/- how much should I set it?
      Usually there will be a standard 15% depreciation from last year. But its upto you as a Insurer to ask for IDV value hence its called Insurer Declared Value. So I would say go for the highest value allowed (Note you can go upto +15% or 20% on quoted value). More than the IDV, look for the addon covers which you think would be useful for you. The add-on covers will be usually varying based on Car Brand and Variant and Insurance provider. I would say look for NCB Protect, Windshield cover, Key cover, Engine project if available to start with and then pick others based on the quote.

      Quote Originally Posted by akop.4040 View Post
      Got a quote from National insurance for 48k but the insurance is without consumables and the idv is 22.15l. The idv I think is way too low.
      If I were you, I will stay away from Government Insurance providers like National/New India/United India assurance etc. They're a pain to deal with. Private players will be far more accommodative and have exhaustive online portal to cover all your requirements.

      Do check the Insurance provider site directly, sometimes they do give a good deal if you buy it directly from them as there's a commission they've to pay to Content Aggregators and may not provide some covers when going via such Intermediataries.
      Last edited by Lvramanan; 14th Jan 2019 at 13:12.

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      Can we trust Buy Insurance Policy Online | Digit General Insurance ? It will be buying direct from them and eliminating the middleman. The upfront con is that they don't have an office in my state. They only work online.

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      Pick some known company. Never heard of Digit insurance company before.

    10. #10
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      Quote Originally Posted by rksingh1 View Post
      Pick some known company. Never heard of Digit insurance company before.
      https://economictimes.indiatimes.com...w/65128230.cms

      Acko Digit, the new insurance firms. Any reviews? - Team-BHP



      Final quotations, all dep cap-
      1. Oriental - 60k (IDV minus 15% from last year, no consumables) no. of claims????
      2. SBI General Insurance- 48990/-, 55890/-(+consumables), 61480/-(+consumables+engine protection) IDV- 23.40l unlimited claims
      3. National Insurance- 45000/-(without consumables) IDV-22.15l, 2-4 claims
      4. Digit- PFA. About the supreme court order as mentioned above, I was told that whatsoever is the IDV mentioned a company is bound to pay that in any case. I said that say I want to reduce the IDV by 15%, then by how much the premium will be reduced? They said 1000-2000. Should I pay more and get more IDV or should I reduce it a little?
      What are the compulsory deductible charges of Rs. 2000? They explained, but I didn't get them.
      Please check the addon package. They said engine protection, hydrostatic, key loss etc. everything is covered in it.
      5. TATA AIG- Their website is still slow and the toll free number did not connect me to an agent.

      Please advice.
      Last edited by akop.4040; 15th Jan 2019 at 17:19.

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