Car Motor Insurance
About car insurance policy
A Car Insurance Policy is a contract between the insurance company and insured that safeguards the policyholder against financial loss in case of theft or accident of car. You pay a certain amount as a premium to the insurance company to buy this cover, and they agree to pay for accidental damages and theft losses. Your Car is a valuable & cherished possession for you. Before buying a car, you did a lot of brainstorming and then picked your dream car. While driving your dream car, it’s so common and susceptible to unfortunate damage or loss. Being insured with Car Insurance, you can drive your dream car with peace of mind.
As per Law, it is mandatory for any vehicle running on Indian roads to be covered under an active car insurance policy.
The premium amount of your car insurance is decided on the basis of Insured Declared Value or IDV of the vehicle. If you increase the IDV, the premium rises and if you lower it, the premium reduces. It is important for any policyholder to compare various car insurance options before going for a car insurance renewal or buying a new policy.
You can buy or renew car insurance policy with your home comfort in few easy steps. With our online car insurance, you will get a comprehensive coverage that not only covers your car against the mandatory third party liability, but also against the losses caused to your car due to fire, theft, explosion, burglary, riots, strikes, earthquakes, flood, cyclones, accidents, malicious acts & terrorist activities.
Road side Assistance
Third Party Property Damage
Unnamed Passenger Cover
Zero Depreciation Cover
Return To Invoice
Personal Belongings Cover
Emergency Transport & Hotel Expenses Reimbursement
NCB Protection Cover
Multi Car Rebate
Third-party Liability Cover
A Comprehensive insurance plan includes the mandatory aspect associated with a car insurance policy. It covers injury to third party or damage to third party's property caused due to the insured car.
Personal Accident Cover
Recently, this component of a car insurance policy was revised and the cover was increased from Rs. 2 lakhs to Rs. 15 lakhs. What this means, in case you are injured due to an accident involving your insured car, the insurance company will take care of medical expenses up to Rs. 15 lakhs as per the terms and conditions of the policy.
Damages Due to Fire
A Comprehensive plan covers damages to your car caused due to fire. Fire due to self-ignition, explosion, lightning etc. are usually covered under this plan.
Imagine you park your car in a mall's parking lot and fail to find it while exiting the mall! It would be devastating, wouldn't it? A Comprehensive plan covers car theft. You shall receive the vehicle's Insured Declared Value (IDV) in case of car theft, after the claim settlement process.
A car accident has the potential to be devastating; mentally, physically, and financially. Unlike a Third-party Liability policy, a Comprehensive plan covers damages to your car as well. Thus, if your car is damaged due to an accident, the insurance company will take care of the expenses incurred for repairing the insured vehicle.
Nowadays, cities are vulnerable to flooding a lot more than they used to in the past. Be it natural calamities such as floods or manmade calamities such as riots, damages to your car will be covered if you purchase a Comprehensive policy.
You also have the option of purchasing additional covers along with your Comprehensive plan. Note that these covers cannot be purchased on a stand-alone basis or along with a Third-party Liability policy. Add-ons are designed to cover the exceptions of a policy and to lend a bit of personalization to your car insurance cover. Here’s a list of popular car insurance Add-ons:
Zero Depreciation Cover
Depreciation depicts the devaluation of the vehicle as the days pass because of various factors like vehicle age, wear and tear, obsolescence. As a car depreciates, it has an effect on the claim settlement. The depreciation value is deducted at the time of settling the claim. When you opt for Zero Depreciation Cover, the entire claim amount will be paid out to you.
You can have the facility of daily reimbursement if you buy the additional comprehensive car insurance policy.
Return to Invoice
Return to invoice is one of the add-ons which give benefits of the invoice value of the car along with the insurance details, registration fee, and road tax. Insurers pay the required amount confirmed in the invoice in case of total loss declared.
You buy car insurance to safeguard your car from any damage in the future. What about the personal belongings, they also need to be protected. It covers the loss of personal belongings including car accessories, laptop, or electronic equipment from the locked vehicle.
Engine and gearbox cover
If there is a vehicle breakdown due to the internal parts of engine and gearbox, this Add-On Cover can pay for the expenses.
Keys are essential but, several times these gets misplaced or may be stolen. In that case, if you are having the benefit of Key Replacement add-on you will get another.
NCB Protection Cover
No Claim Bonus considered as the reward for the insured who have no claim records within policy tenure. There are people who mostly don't claim as they are quite confident about their driving. With NCB you can get discount up to 50% and the add-on cover allows you to avail this benefit.
Multi-car rebate as the name suggests, this cover relates to those who own more than one car. It will extend the add-ons like Depreciation deduction waiver, Key replacement, and Personal belongings benefits to the car or cars at applicable rates & condition on renewal with comprehensive car insurance policy.
All expenses incurred on car consumables such as nuts, bolts and oil that unfit for further use can be reimbursed under this add-on.
If you are admitted to a hospital in the event of an accident, you can get Rs.1000 every day up to 30 days of hospitalization.
Garage Cash Cover
In case your car is at the garage for repairs, you will have to hire another vehicle to move around. Under such circumstances, the Garage Cash Cover pays for hiring another vehicle.
Windshield Glass Cover
Replacing a broken or cracked windshield can be cost prohibitive. However, with Windshield Glass Cover, you can get it replaced with ease. This cover ensures your No Claim Bonus is not affected when you use the insurance to pay for the replacement of the windshield.
Personal Accident Cover
If you get disabled or die in a car accident, Personal Accident Cover can protect your family's financial future. Your family will receive a lump sum amount in either case.
Accident Cover for Car Passengers
If a passenger in your car sustains debilitating injuries or dies, they will receive a lump sum compensation amount.
Emergency Transport & Hotel Expenses
Relying on public transport may sound cumbersome. To offer a breakthrough driving experience without any roadblock to happiness and freedom, we have introduced Emergency Transport & Hotel Expenses cover. Yes, you've heard us right! Isn't that an amazing thing we do for you? This Add-On cover helps in compensating emergency transport & hotel expenses. You can avail Emergency Transport & Hotel Expenses add-on while buying car insurance. This cover pays you the cost for an overnight stay along with the taxi charges.
This add-on provides coverage against the transportation cost of the ambulance carrying the insured person to the hospital.
What is not covered under your car insurance policy: Exclusions
Any claim due to or arising out of pre-existing condition/ailment, whether declared or undeclared, is not covered under the policy. Your policy will also not include the following
Drink and Drive
Damages caused to the car if you or anyone else was caught driving under the influence of alcohol at the time of accident.
Deliberate accidental loss is not covered. If it is proven that the accident was entirely staged, the claim would be rejected.
Driving on the wrong side of the road or without a valid license, or if the car's driven by an underage person.
Driving your private vehicle for commercial purpose and vice versa
An expired policy, consequential damages, electrical and mechanical failure, regular wear and tear, and driving outside geographical limits are other reasons for claim rejection.
- Normal wear and tear and general ageing of the vehicle
- Depreciation or any consequential loss
- Damage to/by a person driving any vehicles or cars without a valid license
- Damage to/by a person driving the vehicle under the influence of drugs or liquor
- Mechanical/ electrical breakdown
- Loss/ damage due to war, mutiny or nuclear risk
- Vehicles including cars being used otherwise than in accordance with limitations as to use
- Wear and tear
- Damage to tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement
- Driving the vehicle against the limitations as to use
- It’s always a good idea to be aware of what is excluded from your policy, so that you are not disappointed by extra expenses later. So make sure you go through the Car Insurance Policy Wordings carefully.
It’s always a good idea to be aware of what is excluded from your policy, so that you are not disappointed by extra expenses later. So make sure you go through the Car Insurance Policy Wordings carefully.
How can you choose your IDV?
The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the erstwhile Indian Motor Tariff. IDV i.e., Insured Declared Value is the current market value of the vehicle that starts depreciating by the time it came out of the showroom. In, case your car undergoes total loss or theft, IDV is the amount offered you to compensate. You can obtain IDV by deducting depreciation from the market selling price of the vehicle.
How Is IDV Calculated?
The calculation of the Insured Declared Value is based on the manufacturer’s selling price of the vehicle including the listed price of the accessories. And, the depreciation value gets deducted as per the scheduled provided by the Indian Motor Tariff.
It is: “The market value of vehicle – The depreciation value = Insured Declared Value (IDV)”
How does Premium Get Calculated?
The insurance premium of your Four Wheeler is chargeable in one go. Our Premium Rating depends upon the following factors:
- Cubic capacity
- Geographical zone
- Age of the vehicle
- Add on Covers
Explore Our Simple & Hassle-Free claim process
1. Inform Insurer immediately and keep the following details on hand:
- Policy Details
- Contact Details
- Loss Details
2. Please refrain from dismantling or repairing the vehicle before survey is completed.
3. Survey will be arranged on receipt of claim intimation and submission of detailed estimate of repairs from the repairer.
4. Documents must be provided to the repairer/surveyor prior to survey.
5. Duly filled and signed claim form. Please note that it is mandatory to update Aadhaar and PAN details. For company owned vehicles, signature of authorized signatory along with company seal is required.
6. Registration Certificate of the vehicle along with photocopy. Original to be verified and returned.
7. Driving License of the driver at the time of accident along with photocopy. Original to be verified and returned.
8. FIR from police station if third party death/ injury or property damage.
9. If the claim amount exceeds Rs. 1,00,000, we require a copy of your PAN Card along with a recent passport photo.
10. Other documents may be requested based on the requirements of the claim.
11. If all documents are found to be in order, we will arrange for cashless facility. You may collect the vehicle after completing a satisfaction voucher and paying any amount as required.
12. For Non cashless claims (reimbursement claims), original cash bill or Invoice with cash receipt is required for settlement of claim.