Zero Dep Indurance:
Originally Posted by santoclauz
I also wanted to discuss the insurance and extended warranty deals with the both of you (and anyone else who'd wish to shed light). This in terms of what does the insurance actually cover (or not cover) and what is the extended warranty for? The dealer might or might not divulge all the details hence it's better to be street smart.
Also is it better to go for a zero-depreciation insurance? (which I recently got to know abt).
I can totally vouch for this. I have a friend who picked up a Brio SMT UT after a month I did. He had already booked an i10 and I successfully manipulated him to Brio
. Actually he is very happy with it now.
Ok, back to the topic, this friend of mine was still learning when he got the car and I ensured that he takes a Zero DEP insurance, which even I have.
Within a week he had is left tail lamp busted along with a deep gash on the rear bumper. We asked him not to worry and just continue.. and he did.
2 weeks later, he had a deep gash on his front left fender & some marks on the Bonnet.
2 days back he got his car fixed & serviced for the first time. I was with him during the insurance claim. I even used my license to claim coz my friend still has an LL. He had to pay 1k for the insurance claim. This is the fixed default processing amount you have to pay, no matter how big or small the claim is.
Everything was replaced including the fender, lights bonnet etc with new parts for free. He got the car back in two days with a total bill of 1k for service and repairs, nothing extra. While completing the paper work for insurance claim, the service engineer confirmed that with zero dep insurance, every thing is covered, including glass, fiber, metal etc, any number of times you claim it, as long as the insurance is valid. You will pay 1k every time.
My friend was delighted, and we were pulling his leg saying " He will put the insurance company to loss" Extended Warranty:
When people ask me this, I just exclaim, why not!!
I mean c'mon, you pay 5-6 lacs for the car and you think twice to get the warranty extended for a couple of thousand bucks??
Extended warranty as the name suggests extends your original warranty with the exact same terms and conditions for 2 additional years (No of years may vary in other brands). So in brief, the original warranty on our Brio is 2 years or 40K kms, now with extended warranty, it becomes 4 years or 80K kms which ever is early.
I hope that it never comes to use, but if anything major happens to the car engine or something say 3 years from now, I will be in peace of mind that I still have the warranty.
Honda charged me 4k, if I remember correctly for the extended warranty for 2 years, which IMHO, is totally worth it.
Also, I was reading somewhere, the extended warranty gets costlier as the car gets older, so if its 4k at the time or purchase, it might cost you more if you wanna get it few months after the purchase. Just double check on this.
I hope I was able to shed some light.