About The Auto Insurance

About The Auto Insurance

About The Auto Insurance

About The Auto Insurance

About The Auto Insurance,More popularly called motor insurance, this type of Insurance offers cover for damage or loss to any automobile, for example, Automobile, two-wheeler or industrial Automobile, etc..
Description: This insurance policy helps mitigate financial harm because of accidents causing harm to the vehicles. The premium amounts which are payable from the individual procuring insurance because of his Automobile is dependent upon different factors like insured announced value, type of vehicle, age of the vehicle, fuel type, age of the insured, etc..

About The Auto Insurance
About The Auto Insurance

Which are the Kinds of Auto Insurance?

Automobile Cover,There are two kinds of motor vehicle insurance: Liability Only policy covering bodily harm or death, property damage to the third party, and provides personal accident cover to the occupants. The being a Thorough policy which covers damage or loss insured along with this liability Only coverage.

According to the Motor Vehicle Act 1988, liability Only coverage, also called Act Simply policy, is compulsory for all vehicles plying on public streets in India. This cover protects against any liability arising from injuries or death. Additionally, it contains a Personal Accident cover to the owner-driver. Comprehensive Insurance covers damage or loss to the Automobile along with the liability Only coverage.

These dangers that can lead to damage to the insured Automobile are covered: Fire, Lightening, Self-ignition or Explosion Malicious Act, Riot and Strike, terrorism Theft and House Breaking Earthquake, Storm, Tempest, Flood inundation, Rockslide or Landslide.

Precisely what does automobile insurers include and exclude?

Automobile Cover Motor insurance comprises an assortment of factors that might lead to damages to your Automobile and injury to its occupants. The exceptions include regular wear and tear, damages endured while driving under the influence of intoxicants, etc..

The compensation insured using car insurance coverage are enumerated under the OD part of this policy record.

These typically include: Fire, Lightening, Self-ignition or Explosion Malicious Act, Riot and Strike, terrorism Theft and House Breaking Earthquake, Storm, Tempest, Flood inundation, Rockslide or Landslide Normal Wear and Tear and Mechanical or Electric Breakdowns Damage to Tyres (unless Automobile also ruined ) Driver with no Valid Driving License Driving under the influence (DUI) of intoxicants like liquor or drugs After the Automobile is utilized for any purpose Usage outside constraints Vehicle is utilized for Hire or Reward Organised Racing Speed Testing.

Atomic Wars and Perils

What variables impact the entire premium of an auto?

Automobile Cover The premium is set on the grounds of the automobile worth, age of the Automobile, cubic capability, and geographical zone. The insured has a choice to choose various covers with all the insurance businesses. Insured Declared Value

  • The calculation of this IDV is determined by the following aspects
  • Manufacturer, make, and model of the Automobile.
  • Details of automobile registration, for example, the town of registration.
  • Date of enrollment of your vehicle.
  • Whether it’s a private automobile or one possessed by a provider.
  • Cubic ability and ex-showroom cost of the motor vehicle. Cubic Capacity Age of Vehicle Geographical Zone

Add-on Cover, if chosen Third Part Liability (as described time-to-time by IRDAI) Personal Accident Cover for Passengers max to Rs. 5 lacs Feb 9. Passenger CNG / LPG – Topical or Inbuilt


What’s the amount insured calculated?

About The Auto Insurance
About The Auto Insurance

Sum Insured is fixed at the start of each policy period and called the Insured Declared Value (IDV). It’s adjusted based on the recorded selling price of the manufacturer defined under the Motor Tariff.

Personal Damages (OD PREMIUM) –

Personal Damage (OD) helps you keep insured against damage caused by a vehicle because of accidents such as theft, fire, etc.. In the event of a crash, a damaged cover frees you to repair or replace sections of your car.

What Exactly Does Automobile Own Damage Insurance Policy Cover?

This coverage ensures the cost of compensation to your car because of –

  • Natural calamities like floods, earthquake, fire and much more
  • Human-made calamities such as vandalism, riots and terror attacks
  • Damage to your car or the possessions in the car in the event of a Collision

Additionally, it covers-

  • Explos? ion
  • Hailstorm
  • Terrorism
  • Frost
  • Inundation -Ignition
  • Lightening
  • Cyclone
  • Tempest
  • Hurricane
  • Landslide
  • Rockslide
  • Typhoon

What does Car Own Damage Insurance coverage not insure?

When picking for personal damage car insurance coverage, you need to know what advantages you抮e overlooking. Let抯 have a look at precisely what this policy doesn’t insure:

  • Damages to another party automobile
  • Damage caused by a third party house
  • Injuries brought by other individuals in a Crash.
  • General wear-and-tear of the Automobile
  • Automobiles used other than in compliance with the limitations regarding use. By way of instance, if you use a car for
  • remuneration purposes.
  • Mechanical and electric breakdown
  • Damage to/by a man driving with a valid driving permit
  • Loss or damage caused while driving under the influence of alcohol or another intoxicating substance
  • Loss or harm due to depreciation of the Automobile’s worth
  • Loss or harm because of war or nuclear risks

Consequential loss – when the initial damage causes following damage/loss, just the initial damage will be covered below our automobile Auto Insurance

The amount insured is based upon the Insured Declared Value (IDV) of this vehicle. IDV is the value assigned to the Automobile by the insurance companies according to the manufacturer real worth of their Automobile and the depreciation percent based on its era. Some businesses may think about the accessories to find the IDV.

Is the Colour of a vehicle influences its premium?

About The Auto Insurance
About The Auto Insurance

Truth: Your insurance premium doesn’t depend upon the Colour of your vehicle. It’s determined by the location of registration, the year of fabrication, and aspects like the capacity, the model, and make.

The majority of the customer stated that Comprehensive Insurance is unnecessary.
However, no According to the Motor Vehicle Act 1988, Third Party Liability cover is compulsory for vehicles plying on public streets in India. It is highly recommended to have motor insurance because it covers damages or loss to your vehicle, including any damages suffered by the occupants or party.
Third-Party Liability Insurance is compulsory under the Motor Vehicles Act, 1988. It gives protection against damages or harm to their possessions in the event of a crash or third parties. Insurance companies also provide a Personal Accident cover covering death or permanent total disability for your owner-driver of the insured motor vehicle.

What’s a No Claim Bonus (NCB)?

Automobile Cover NCB is a reduction supplied by insurance firms while renewing a motor insurance plan in the event the owner has not claimed through the preceding coverage period(s). The NCB could be gathered up to a maximum of 50
No Claim Bonus: The insured is eligible to get a No Claim Bonus (NCB) on the Own Damage segment of this coverage, if no claim is pending or made during the previous year (s), according to the: The previous year/20 percent, Preceding Two successive years/25 percent, Preceding Three successive years/35 percent, Preceding Four successive years/45 percent, Preceding Five successive years/50percent of NCB on OD Premium. No Claim Bonus will only be granted, provided the coverage is renewed within 90 days of their policy’s expiry date.
NCB is transferable from preceding policy to new coverage of the same vehicle type but cannot be moved from a personal coverage into a commercial coverage.

Liable at accident-

Just The person who owns the Automobile is mostly responsible in the case of a crash. He’s accountable to the party for all damages suffered by the party that is said and damages suffered by the occupants.

Under Section II -1(I) of the Policy – Death of or bodily harm – Such amount is necessary to fulfill the Motor Vehicles Act’s demands, 1988. Under Section II, -1(ii) of this Policy – Damage to Third Party Home – Rs. 7.5 lakhs (according to IMT 20) regarding anybody’s claim or set of claims arising from a single event. Personal Accident cover for Owner – Notebook under section IV: Capital Sum Insured (CSI) – Rs. 1500000 Deductible under Section-I: 500 (Compulsory Deductible Rs. 500 and Imposed Deductible Rs. 0 )

An extensive auto insurance coverage has various exceptions and constraints, which will affect your claim to acquire all expenses deducted. You have to read the policy record and make sure these exceptions and limitations do not affect your claim.

CNG or LPG kits decrease the insurance premium?

Automobiles equipped with CNG or LPG kits have been categorized as high-usage vehicles, and therefore, odds of these being involved in a collision are also a lot more. Their insurance policy premium is higher to pay for the risk.
Instead, a couple of insurance businesses provide cashless repairs. This usually means that you cover what isn’t insured under your policy. Without you having to bear any costs, the remainder is compensated by the insurer.


Newer automobile models are usually fitted with safety systems or anti-theft apparatus, thus making automobile theft a more challenging scenario. If no new technologies like GPS locators and motor immobilizers are set up, then automobiles are more likely to be discharged than brand new ones.

CLAIM Procedure


Intimation of claim from the client and fix quote creation by the repairer. There is a fee that will be taken between 1000. By the business standards.

2. Loss Assessment

Surveyor Appointment by Insurance Company and Vehicle Inspection accompanied by acceptance for repair from the surveyor


  • Communication of quote and consent to the Client to Get his/her approval
  • Commencement of Repairs based on surveyor acceptance and client approval.

4. Inspection and delivery of the vehicle

  • Surveyor to confirm repairs completed and affirm the vehicle’s shipping to the client on the nearby cash-less foundation
  • Workshop to bill the client for its share of payment and send the repaired vehicle.

5. Claim settlement

Based on this surveyor report Insurance Agency to repay the claim and make payment into the workshop/ client (if the settlement isn’t done on cash-less foundation )

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