Auto insurance policy is mandatory for vehicle owners as per Indian Motor Vehicles Act 1988.
This Plan is designed to give coverage for losses which insured might incur in case his gets stolen or damaged.
The amount of Auto insurance premium is decided based on the Insured Declared Value of a car.
The premium will increase, if you raise the IDV limit and vice versa.
Why do I need to insure my vehicle?
It is mandatory to insure your vehicle as per the Motor Vehicles Act 1988.
That apart, insuring your vehicle saves you from any financial loss caused due to accidents, damage or theft of your car.
Additionally, insurance covers the safety of the co-passengers, someone else's property and pedestrians too.
Key features of Auto Insurance
1) Policy protection against loss or damage to the covered vehicle
2) Coverage against financial liability caused due to injury or death of a third party or damage to the property.
3) Auto Insurance protects you for the below mentioned damages, should they occur:-
4) Personal Accident Coverage.
2)Third Party Liability Coverage
3) Collision Coverage
Why do you need Add-On Covers / Additional Riders?
What is not covered by Auto insurance?
While we hope and pray that you may never need to use this information,
it is important to be well-informed than lose money in the event of an unfortunate accident
Some points to remember in such situation are mentioned below:-
Always carry in your vehicle:-
1) Copy of policy/cover note
2) Car Registration Copy (RC Book)
3) Driving License Copy
1) Register an FIR
Note down the vehicle no. involved in the accident
Note down the witness name and contact no.
Intimate the claim by calling on toll free no. and providing the required details
2) Ask for the network garage near by calling the toll free no. and in case of non-networked garage,
the bills will be reimbursed later after accessing the damages.
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