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    Vehicle Insurance Plans

    Boardly Categorized Health Insurance Plans

    Stand Alone Third-Party Liability Insurance

    Third-Party Liability insurance is the minimum insurance coverage required by law in India. It covers the insured individual’s legal liabilities towards third parties for any injury death or property damage caused by the insured vehicle. It does not cover any damage to the insured vehicle itself.

    Comprehensive Insurance

    Comprehensive insurance provides coverage for both third-party liabilities and damages to the insured vehicle. It covers losses due to accidents theft fire natural calamities vandalism and more. It also offers personal accident cover for the vehicle owner/driver.

    Stand Alone Own Damage Insurance

    Own Damage insurance provides coverage for damages to the insured vehicle due to accidents fire theft vandalism natural disasters and other specified perils. This type of insurance is usually bundled with third-party liability coverage under comprehensive insurance policies.

    Choose Your Vehicle Insurance

    HDFC
    TATA
    ICICI

    What Is Covered In Vehicle Insurance Policy?

    • Theft of the Car
    • Damages due to natural disasters
    • Damages due to man-made calamities and fire
    • Damages caused to the car by an accident
    • Damages incurred in transit
    • Third-Party Liability Cover
    • Personal Accident Cover for the Owner-Driver
    • Specific Coverage With a List of 13 Car Insurance Add-ons

    What Is not Covered In Vehicle Insurance Policy?

    • Damages suffered after driving without a proper license
    • If the vehicle is used outside the geographical area i.e. outside India
    • Damages caused due to driving under influence of alcohol or drugs
    • Ordinary wear and tear due to regular usage and depreciation
    • Costs insured towards general
    • maintenance of the vehicle
    • Damages caused due to negligence of the driver
    • Using a private vehicle for commercial usage
    • Damages caused due to speed racing, crash testing, etc.
    • Damages caused due to war or war-like situations in the country, and nuclear peril
    • Damages covered under a specific add-on when the add-on is not included
    • Reimbursement of only 50% cost for the replacement of consumables due to wear and tear
    Covered

    What Is Covered In Vehicle Insurance Policy?

    • Theft of the Car
    • Damages due to natural disasters
    • Damages due to man-made calamities and fire
    • Damages caused to the car by an accident
    • Damages incurred in transit
    • Third-Party Liability Cover
    • Personal Accident Cover for the Owner-Driver
    • Specific Coverage With a List of 13 Car Insurance Add-ons
    Not Covered

    What Is not Covered In Vehicle Insurance Policy?

    • Damages suffered after driving without a proper license
    • If the vehicle is used outside the geographical area i.e. outside India
    • Damages caused due to driving under influence of alcohol or drugs
    • Ordinary wear and tear due to regular usage and depreciation
    • Costs insured towards general
    • maintenance of the vehicle
    • Damages caused due to negligence of the driver
    • Using a private vehicle for commercial usage
    • Damages caused due to speed racing, crash testing, etc.
    • Damages caused due to war or war-like situations in the country, and nuclear peril
    • Damages covered under a specific add-on when the add-on is not included
    • Reimbursement of only 50% cost for the replacement of consumables due to wear and tear

    Why Do You Need Car Insurance?

    Legal Requirement

    Vehicle insurance is mandatory by law in India under the Motor Vehicles Act 1988. Every vehicle owner must possess at least the minimum required third-party liability insurance.

    Personal Security

    Comprehensive insurance policies offer personal accident cover which provides compensation in case of disability or death due to an accident involving the insured vehicle. This ensures the well-being of the vehicle owner and their family members.

    Peace of Mind

    Having vehicle insurance gives peace of mind knowing that any unforeseen incidents or accidents will be financially covered. It reduces stress and anxiety associated with potential expenses and legal issues.

    Protection Against Loss or Damage

    Vehicle insurance covers losses or damages incurred due to theft fire vandalism or natural calamities such as floods earthquakes or cyclones. The policy safeguards the investment made in the vehicle.

    Deterrent for Uninsured Vehicles

    Vehicle insurance helps combat the issue of uninsured or underinsured vehicles. By enforcing insurance as a legal requirement it reduces the instances of accidents involving uninsured vehicles and protects road users.

    No-Claim Bonus

    By maintaining a claim-free record vehicle owners can avail of a no-claim bonus which leads to reduced premium payments and increases the overall cost-savings in the long run.

    Third-Party Liability

    In the event of an accident causing injury or damage to a third party vehicle insurance covers the legal liability of the insured. It protects the policyholder from legal claims and compensation demands that could be financially devastating.

    Special Add-On Features

    Insurance companies offer various add-on features like zero depreciation cover roadside assistance engine protection and more. These additional benefits provide enhanced coverage and increased convenience to the insured.

    Financial Protection

    Vehicle insurance provides financial protection against risks such as accidents theft or natural disasters. It covers the cost of repairs replacements and third-party damages preventing a hefty financial burden.

    Additional Legal Protection

    In the unfortunate event of a legal dispute involving the insured vehicle the insurance company provides legal protection and assistance helping the policyholder navigate the legal complexities.

    Points To Consider While Choosing Car Insurance?

    Insured Declared Value (IDV)

    The IDV is the maximum amount the insurance company will pay in case of total loss or theft of the insured vehicle. It’s important to select an appropriate IDV value as it directly affects the premium amount and the claim settlement. A higher IDV may result in a higher premium but it ensures better compensation in case of a total loss.

    Type of Insurance

    In India there are two types of vehicle insurance policies available – third-party liability insurance and comprehensive insurance. Third-party liability insurance is mandatory by law and provides coverage for damages caused to third-party property or injury to third parties. On the other hand comprehensive insurance provides coverage for both third-party liabilities as well as damages to your own vehicle.

    Network of Garages

    Check the insurer’s network of garages for cashless claims. Having a wide network of garages where you can avail cashless repairs is convenient and can streamline the claim settlement process.

    Premium Cost

    Compare the premium costs offered by different insurers for similar coverage. However it’s important not to compromise on coverage quality solely for the sake of a lower premium. Choose a policy that provides optimum coverage at a reasonable premium cost.

    Coverage

    It’s important to carefully review the coverage provided by the policy. Look for features such as accident coverage theft coverage fire coverage natural calamities coverage personal accident cover and so on. Evaluate your needs and choose a policy that offers comprehensive coverage for your vehicle.

    Add-Ons

    Various add-ons or riders are available to enhance your basic insurance coverage. These add-ons include zero depreciation cover engine protection roadside assistance NCB protection and more. Assess your requirements and add these riders accordingly but keep in mind that each add-on will increase the premium cost.

    Claim Settlement Ratio

    The claim settlement ratio indicates the insurer’s efficiency in settling claims. Research and choose an insurance company with a high claim settlement ratio to ensure a smooth and hassle-free claim process.

    Customer Service

    Evaluate the reputation of the insurance company in terms of customer service and its responsiveness to queries and claim settlement. Prompt and efficient customer service can greatly simplify the insurance process.

    Not sure which insurance to buy?

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