We just had the oppurtunity to buy to 2 Cars for our company and what my father told me was to negotiate with the vendor to take the car with the mandatory insurance.
We went to the Insurance company and they gave us a quote us a premium of Rs.25,000/- with Zero Depreciation for the year. The same when I asked the Car Company they quoted me Rs.27500/-.
Its not big of a difference here – only about 10-12% but when you compare the clauses inside the one with Rs.25000/- had 3-4 more benefits like Zero Depreciation & Free Assistance during car breakdown, Cashless Claim Settlement, Transportation, Stay & Repairs would be free if you are stranded which the Insurance Company was offering. So not only is the insurance is cheaper compared to the car vendor but also the benefits you get are more in the Insurance you take from the Insurance Company.
After understanding this we literally asked them to cancel the booking of the vehicle if we do not get to opt in for our own insurance. After 3-4 days of haggling, they finally gave in & now i have those extra benefits and some extra cash left.
Photo Credits : Bajaj Allianz
Rushabh Thakker | TheFineMen