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Car Insurance

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Private car insurance policy provides coverage for loss of or damage to your vehicle against the risk of accident, fire, theft, floods, earthquake, riot, strike etc. The policy also gives coverage for your liability arising out of death, injury to third party and/ or third property damage.

  • What the policy covers:
    • Loss or damage to the insured vehicle, Personal Accident and Third Party Liability due to the following:
    • Natural calamities: Fire, explosion, self-ignition, lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
    • Man made: Burglary, Theft, Riot strike, Malicious act, Accident by external means, Any damage in transit by road, rail, inland waterway, lift, elevator or air.
  • Personal Accident Cover:
    • Provides compulsory personal accident cover of Rs 2 lakhs for individual owner driver of the insured vehicle while travelling in, mounting or dismounting from the car.
    • You can also opt for personal accident cover of up to Rs. 2 Lakhs per person on unnamed passengers for your car by paying additional premium.
  • Third party legal liability:
    • Gives protection against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or any damage caused to the property
       
  • No Claim Bonus (NCB) discount:
    • If you do not make a claim during the previous policy period, you are eligible for a No Claim Bonus (NCB) discount on renewals provided there is no name transfer. NCB discount can be allowed till 90 days break in Insurance subject to satisfactory pre inspection of the vehicle and NCB declaration confirmation from the Insured.
      NCB discount Slab
      • New 0%
      • 1st Renewal 20%
      • 2nd Renewal 25%
      • 3rd Renewal 35%
      • 4th Renewal 45%
      • 5th Renewal 50%
  • Transfer your NCB:
    • You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from one Company to another during renewal The discount rate remains the same. The following documents are required to claim the No Claim Bonus discount from your previous motor insurance during a renewal:
      Renewal notice and NCB declaration letter by the Insured
  • How can I get No Claim Bonus Reserving Letter?
    • NCB Reserving letter can be provided only on Sale of vehicle evidenced by transferred RC copy OR Sale Deed and Form 29 & 30. The OD section of the policy needs to be transferred to the new owner or cancelled.
  • Additional discounts:
    • Members of recognized Automobile Associations in India can avail a discount of 5% on the OD Premium subject to a maximum of Rs. 200.00 Discount for Anti-theft Devices:
    • In case you have installed Automobile Research Association of India (ARAI) approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.00
    • Cover yourself and your family:
    •  
  • Customize your insurance with additional covers:
    • Electrical and/ or non-electrical items fitted to the vehicle can be insured separately. For example: fog lights, music system In case of vehicles fitted with bi-fuel system such as Petrol/ Diesel and CNG/ LPG, permitted by the concerned RTO, the CNG/LPG kit fitted to the vehicle is to be insured separately at an additional premium of 4% on the value of such kit. You need to specifically declare this in the proposal form.
  • Sum Insured with 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 Indian Motor Tariff.
    • If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer's listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
  • Add-on covers available in Car Insurance:
    • The above details will differ from Company to Company
      • Nil Depreciation (Depriciation amount will not be deducted during claim)
      • Consumables (Consumables like nuts and bolts amount will not be deducted during claim)
      • Return to Invoice (Life Tax Amount will also be paid during a Total Loss Claim)
      • NCB Protection ( No Claim Bonus will be allowed during the renewal even if claim is made)
      • Loss of Personal Belongings / Baggage
      • Emergency transport and hotel expenses / Hospital Cash cover
      • Key replacement
      • Spare car/ Daily Allowance/ Inconvenience allowance
      • Ambulance charge cover
      • 24x7 spot assistance
      • Engine Protector -Hydro static lock loss (Covers loss araising due to Flood / Innundated water entering the Engine )
      • Gear box protector
      • Tyre cover