Private Car

In India, it is mandatory for us to buy a car insurance. It provides coverage for the losses incurred in an accident or vehicle theft, thus saving us from paying huge repair bills from our own pocket. A car insurance in India, has 2 components to it: Own Damage Cover and Third-Party Liability cover.

A car insurance will cover you for losses incurred for all of the below listed factors:

  • Accidents of external means
  • Burglary, theft/ Riot, strike
  • Fire, explosion self-ignition or lightning
  • Earthquake (Fire and Shock Damage)
  • Natural calamities like, flood, typhoon, hurricane, storm, tempest, inundation, cyclone,
  • hailstorm, frost
  • Terrorist Activity/Malicious Act
  • Landslide/Rockslide

Apart from damage to car, accident may give birth to liability in terms of bodily injury/death of third party or property damage of third party, which is covered under the car insurance. Personal Accident Cover to the driver and the co-passanegers is a in built to compensate the insured in the event of any

  • Death
  • Loss of limbs or eye-sight
  • Permanent disablement

Add On Covers

Depreciation Reimbursement –
  • In this coverage, the amount of deprecation deducted on the value of parts replaced is covered under own damages claim, under section 1 (own damage) of the policy.
  • Claims under Depreciation Cover are often limited to first 2 claims per year during the policy period.
  • However, customer has an option to select more than 2 claims per year on payment of additional premium.
  • Depreciation Reimbursement offers full claim without any deduction for depreciation, on the value of replaced parts which otherwise have to be borne by you.
Daily Allowance -
  • This cover offers to pay a fixed sum towards a hired transport which the insured may need to take while the vehicle is under repair for a valid claim where the repair time is more than 3 days ( Max up-to 10 days & 15 days in case of Total Loss/ Theft Claims)
  • Period of daily allowance may extend beyond policy period depending upon the date of loss
  • Cover is available for all vehicle age
Return to Invoice (RTI) -
  • The financial shortfall between the amount you receive for loss or damage to the vehicle and the purchase price of the vehicle as confirmed in the invoice of sale OR current replacement price of new vehicle in case exactly same make / model is available, whichever is less is covered under total loss.
  • The first time registration charges and road tax which was incurred by insured on the vehicle will also be covered
No Claim Bonus Protection Cover -
  • Once a claim is filled, No Claim Bonus is eliminated. In this cover you get to benefit from cer-tain claims even while you get to keep your No Claim bonus
  • Conditions: If bonus accumulated by you is for 2 or more than 2 claim free years and there be-ing no claim in 2 preceding years.
Repair of Glass, Fibre, Plastic & Rubber Parts -
  • Any claim related to Glass/Plastic/Rubber/Fiber part where the insured opts for repairs rather than replacement, at any authorised workshops/dealers/ service stations will not affect the No Claim Bonus eligibility at the time renewal.
  • Conditions: The no. of such claim should not exceed 1 and there is no other claim for damage to the vehicle during the period of insurance.
Loss of personal belongings –

Loss of personal belonging covers the loss or damage to your and your family member’s personal belongings in the vehicle at the time of loss or damage to the vehicle in excess of Rs. 250. Cover is available for all vehicle age.

Key Replacement -
  • This covers the cost of replacing the insured’s vehicle keys which are lost or stolen.
  • Break-in Protection: This cover will reimburse you for the cost of replacing your locks and keys if Your vehicle is broken into. The covered costs include the labor cost for replacing the lock.
Emergency Transport & Hotel Expenses -
  • If the insured vehicle is immobilised after an accident, this cover offers to pay for the cost of overnight stay and taxi charges for returning back to the place of residence or the nearest city the insured was travelling to. Cover is available for all vehicle age.
Courtesy/Hire Car -
  • If the estimated time taken to repair your car is more than 24 hrs or it is a claim for total loss/theft of entire vehicle, then this cover will provide you a courtesy or hire car to avoid incon-venience to the insured.
  • It offers the convenience of a replacement car while your vehicle is under repair for a valid claim.
  • Courtesy/Hire Car will be provided within 24 hrs. of vehicle reaching the garage or the time of intimation of claim to the company, whichever is later. (Excluding weekend & national holi-days.)
  • This cover is valid for a maximum period of 10 days in case of repair claim and 15 days in case of theft/total loss claim.
  • In case of theft, if the vehicle is recovered earlier then our liability to pay under this cover ends on the day police authority informs you to take delivery of the vehicle plus 2 days subject to maximum 15 days.
Engine Secure -
  • This cover provides repair and replacement expenses for the loss or damage to internal parts of the engine and gear box, transmission or differential assembly.
  • Conditions: Only if loss or damage is due to ingress of water in the engine or leakage of lubri-cating oil from engine /respective assembly i.e. material, which is used up and needs continuous replenishment such as engine oil, gear box oil etc but excluding fuel. This cover is available for vehicle age upto 5 yrs.
Tyre Secure -
  • This covers provides repair & replacement expenses arising out of accidental loss or damage to tyres & tubes only, without any damage to the insured vehicle, resulting into bulge, puncture, burst, cut, or damage.
  • Unused tread depth will be the basis of indemnity under this coverage as specified in the policy.
  • This cover is valid for vehicle age upto 5 yrs.
Road Side Assistance -
  • This will cover the repair & towing assistance like service for flat tyre, flat battery, repair on the spot, spare key Key Retrieval / Service for Keys Locked Inside, Fuel Support (Emergency Fuel Delivery), arrangement of alternate vehicle and emergency towing assistance.
Consumable Expenses -
  • This covers cost of consumables required to be replaced/replenished arising from the accident to the insured vehicle.
  • Consumable will include engine oil, gear box oil, lubricants, nut & bolt, screw, distilled water grease, oil filter, bearings, washers, clip, break oil, air conditioner gas and items of similar nature excluding fuel.

How to Get Claims

Claim for accidental damages

  • Claim form duly filled and signed by the insured.
  • Proof of insurance Policy / Covernote copy.
  • Copy of Registration Book, Tax Receipt.
  • Copy of Motor Driving Licence of the person driving the vehicle at the time.
  • Police Panchanama/FIR ( In case of Third Party property damage /Death / Body injury).
  • Estimate for repairs from the repairer where the vehicle is to be repaired.
  • Repair Bills and payment receipts after the job is completed.
  • Claims Discharge Cum Satisfaction Voucher signed across a Revenue Stamp.

Claim for theft cases

  • Claim form duly filled and signed by the insured
  • Original Policy document
  • Original Registration Book/Certificate and Tax Payment Receipt
  • Previous insurance details - Policy No, insuring Office/Company, period of insurance
  • All the sets of keys/Service Booklet/Warranty Card
  • Police Panchanama/ FIR and Final Investigation Report
  • Acknowledged copy of letter addressed to RTO intimating theft and making vehicle "NON-USE"
  • Form 28, 29 and 30 signed by the insured
  • Letter of Subrogation
  • Consent towards agreed claim settlement value from you and Financer
  • NOC of the Financer if claim is to be settled in your favor
  • Blank and undated "Vakalatnama"
  • Claim Discharge Voucher signed across a Revenue Stamp