Sometimes you go cheap you reap, other times you go cheap, and you weep. $60 a night should offer a decent bed at least and although I did sleep well, it was certainly not because of the room or bed. So, unless you want a breakfast feast of cockroaches, an obligatory cold shower (despite constant complaints, it never got better), a room decorated by a blind man, and no table light because they could not find a bulb, then this is the place for you.
The one saving grace is that really cheap Indian cafes and restaurants surround the hotel. The residents offer you the opportunity to research southern India without actually going there, plus you can get a taxi anytime by just using the parking place scam across the road, where you can do a deal for an unemployed driver to take you anywhere at cut price.
Insured? I never got an answer.