Motor insurance, also known as motor insurance or auto insurance, is a type of insurance that protects you and your vehicle against financial losses in case of an accident, theft, or natural disaster. It covers the costs of any damage or injuries caused to you or other people and their property
The primary benefit of vehicle insurance is financial security. In the event of an accident, insurance coverage can help cover repair costs, medical expenses or even legal liabilities, depending on the policy
A roadside assistance cover acts as a trusted ally when your vehicle breaks down while in transit. Anything from a flat tyre to a dead battery is looked after with on-the-spot repairs through this cover.
There is no need to replace entire parts if there is minor damage to the glass, rubber, plastic, or fibre parts of your car. With this add-on, you can head to an authorised service station or garage and get the part repaired instead. Additionally, this does not affect your NCB.
If your car needs to be in the repair shop for longer than expected, this cover provides the policyholder with a daily allowance to ease their commute. This allowance is payable for 10-15 days, depending on the cause of the car insurance claim.
If your car encounters a small accident in the middle of a journey, this rider pays for your overnight stay in a hotel or looks after the charges to travel back home or to the closest city you’re travelling to so that you are not left stranded.
If you live in a flood-prone area, you can protect your car’s engine against damage with this rider. It undertakes expenses incurred for the repair and replacement of internal parts of the engine, gearbox, transmission, and differential assembly, including the lubricating oil and consumables used in the assembly, excluding fuel.
This rider covers repair and replacement expenses owing to accidental loss or damage to tyres and tubes.
This rider covers the cost of key replacement in case they are lost or stolen or if your car has been broken into. It also pays for the labour cost for replacing the locks.
This rider covers the cost of consumables that need to be replaced or replenished owing to an accident of the insured car. The consumables include engine oil, gearbox oil, lubricants, nut & bolt, screw, distilled water, grease, oil filter, bearing, washers, clip, brake oil, air conditioner gas, and items of similar nature excluding fuel.
Zero Depreciation Cover cover pays the policyholder for the amount of depreciation deducted on the value of replaced parts under their own damage claim.
If an accident leaves your car in a total loss or constructive total loss, or if it is stolen, under this cover, the insurer is reimbursed with the difference between the sum assured and the invoice value of the car.
This rider pays for the loss or damage to the insured and their family members’ personal belongings, including audio/videotapes, CDs, etc. It excludes coverage on the loss of money, jewellery, bank-related items such as debit cards, cheques, etc.
NCB is a reward given by an insurance company to the insured member for not raising any claim request during the policy year. This reward accumulates over time with up to a 50% discount on the premium amount when you renew car insurance online or in person. However, you can risk losing your NCB if you have to make a claim. With an NCB protection car insurance cover, you can make ‘one’ claim against your car insurance policy, within a policy year, without having it affect your overall NCB.
Own Damage(OD) Insurance provides coverage for damages to your insured vehicle. It includes accidents, thefts, natural calamities, and man-made disasters. Third-Party (TP)Insurance covers the liabilities arising from damages to third-party vehicles, property, or bodily injuries caused by your insured vehicle.
The full form of IDV is Insured Declared Value. It is the maximum amount that an insurance company will pay out in case of a total loss or theft of an insured vehicle. The IDV in insurance is calculated as - the current market value of the vehicle minus depreciation based on its age and condition.
A zero dep cover is an add-on in car insurance under which we won't charge you for depreciation during the claim settlement. In simple words, you are not required to pay for the depreciation cost while making a claim.
Insured Declared Value and the No-claim-bonus are two important factors of every two wheeler insurance policy. The IDV of a two wheeler is fixed at the time of renewing or purchasing the insurance policy.