Motor insurance is no longer a formality for your vehicle's upkeep and maintenance! It is the legal minimum to have your two-wheeler and four-wheeler out on the road.
So, while you invest your best in eyeing that perfect car or bike model, we will invest our best to offer you the perfect cover to protect your vehicle against financial liabilities arising out of unforeseen contingencies.
Be it new buy or renewals, two-wheeler or four-wheeler, the Our expert assistance is just a call away to get you the maximum benefit in minimizing the risks of your vehicle!
So, give your vehicle the care it deserves with Motor Insurance Plans!
It is the most popularly recommended add-on feature, which entitles you to claim the full cost of replacing car parts damaged in accidents without having to pay from your pocket. Usually, a Zero Depreciation add-on feature is valid for a period of five years from the date of purchase of the car, up to a maximum of two claims during the policy period. Indeed, receiving a full claim on any part of the car that has been replaced after an accident is a great situation, is it?
This is a very useful add-on that provides certain round-the-clock services such as refueling, towing, change of flat tyre, battery related technical problems, arranging for a mechanic's services and so on, in case of a car breakdown. In a situation like that, the company will send help wherever you are. Also, you will be eligible for taxi service, assistance in arrangement of emergency accommodation and other utility benefits if you are stranded in a remote destination.
This add-on is essential for owners of new cars, especially high-end cars, that are up to three years of age. It compensates for even those repairs in engine that are not related to accidents. It could be particularly useful for those living in flood-prone areas where frequent waterlogging during the monsoon increases the chances of damage to the engine. It comes at an added cost but it's totally worth it.
You earn a No Claim Bonus (NCB) when you don't make any car insurance claim in an entire policy year. There are certain slabs of NCB that you reach with each passing year with a max limit of 50%. With this add-on-cover, you can make claims for loss such as windshield glass repair or replacement, accessories or total vehicle theft and also for the total loss of the vehicle. The NCB Protection Cover will take care of your first two claims. Again, this cover is usually not available for vehicles that are older than three years.
In the standard car policy, small consumable expenses such as screws, nut and bolts, oils, etc. are not covered and you will have to bear the cost if the need arises to repair or replace them. With this add-on, however, your insurer will make a payout for the value of such consumables. As the cost of consumables is much higher in high-end cars, it is advisable to purchase this to tackle such expenses. Generally, vehicles older than three years are not eligible for this add-on cover.
Accidents are unplanned and it can be due to luck, fate, or poor road conditions in India. There are chances of major injuries or property damage in a car accident. But you can be thankful if you already have a third party car insurance as a savior in such unfortunate situations.
We bring to you all there is to know about third party car insurance and how it can offer a great insurance coverage for your car.
A third party insurance for car is a cover to protect you from any major liability occurred during your own car accident, such as injuries or damage to third party property. Your insurance company will compensate you for repair and hospitalization costs of third party. Hence, you can get a financial cushion for repair work on the third party car.
A third party insurance is termed as an 'act only' cover support. 3rd party insurance means a bare minimum insurance coverage your car needs to have in order to ply on India's roads. Not having even this bare minimum insurance will make you eligible for hefty fines if caught by a traffic policeman. Additionally, the loss to the third party becomes a personal liability to you if you have not taken insurance for your vehicle, thus making you pay out of your pocket.
A third party insurance provides the below coverage and includes:
1. Third Party Liability
The Liability covers in case of injury or death to the Third Party and it is unlimited. In case if the third party has lost his/her life, then the insurance provider will bear the compensation. Based on the FIR and case registered with Motor Accidents Claims Tribunal, the compensation amount is determined. This doesn't depend on the deceased's income but more on how much it has affected his/her family because of the loss. In case of a private car, the insurance cover for legal liability of the paid driver depends on the Workmen's Compensation Act 1923. Similarly, a coverage for unnamed passengers can also be taken with a nominal additional premium of Rs. 50/person for a sum insured of Rs. 1 lakh up to a maximum of Rs. 2 lakhs.2. Property loss
During an accident whatever property damage occurs, the compensation can be claimed for property damage through the third party insurance cover. According to IRDA norms, the damage covers up to Rs 7.5 lakhs. The lower the coverage, the lesser will be the premium.3. Personal Accident support for Owner
In an accident, in case of death or injury to the owner-driver of the vehicle, then the third party insurance can compensate for this death/injury up to maximum of Rs. 2 lakhs. The compensation limit is given below:
- If the nature of injury is death, then the compensation is 100%.
- If the nature of injury is loss of eyesight or two limbs, then the compensation is 100%.
- If the injury is loss of 1 limb or 1 eye, then the compensation is 50%.
- If the injury makes the person completely disabled in other parts of the body, then the compensation is 100%.