1. Why do I need Car Insurance?
The law in the country makes it compulsory for you to insure your car. The compulsory nature of the law protects you against third party liability. Also, your car is probably one of the most expensive things you own. Insurance protects this asset and helps you in coping with the financial loss caused by accidents, damage or theft. Another reason is that while driving, you are responsible for the safety of:
- Your passengers
- Your fellow drivers
- Other people's property
- Pedestrians
- Yourself
Insurance helps cover the costs of potential damages or injuries in case of an unforeseen accident or theft.
2. What are the benefits of buying car insurance online?
The online advantage enables you to buy the policy through web instantly, save time and save money in insurance. You can calculate your car insurance premium online and buy with the same quote within seven days. You can enjoy hassle free buying without any paperwork. You can buy Bharti AXA car insurance policy online using credit card or net banking.
3. Can I also buy additional covers online?
Yes, you can also buy additional covers along with standard car insurance policy online. For car insurance there are seven important additional cover available.
- Depreciation Cover
- Hospital Cash Cover
- Roadside Assistance Cover
- Personal Accident for Family/ Passenger
- Ambulance Charges Cover
- Medical Expenses Cover
- Invoice Price Cover
4. Can I buy add-on covers without buying insurance from Bharti AXA GI?
No. Add on package can be sold only with Car Insurance Policy. It cannot be sold on standalone basis. E.g. If the car is insured with some other company and customer wants to buy only add-on from Bharti AXA, in that case this option is not available.
6. What is the period for which car insurance policy is issued?
All car insurance policies are annual policies issued for a period of twelve months. You will have to renew the policy before the specified expiry date mentioned on the policy document. There are certain benefits of doing so:
- Insured will continue to enjoy no claim bonus.
- Insured will not have to get inspection done at the time of renewal.
7. Can I renew my existing Bharti AXA policy or renew other insurer's policy online?
Yes. You can renew your expiring policy online from www.bharti-axagi.co.in providing minimum details. Also enjoy the benefit of transferring up to 65% of no claim bonus earned by you.
8. What is No Claim Bonus (NCB)?
No Claim Bonus (NCB) is a discount on premium of the own damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. The NCB can be accumulated up to a maximum limit of 65% on OD premium for private cars. You can transfer the full benefits of NCB, even when you shift your car insurance to Bharti AXA from any other Insurance company.
9. Is my No Claim Bonus (NCB) transferable?
Yes, in case you are changing from any other insurance company to Bharti AXA GIC Ltd. and have accrued some NCB from them, you can get the same transferred in case your car is insured within 90 days of your renewal due date.
10. What is the scope and cover offered in a car insurance policy?
The private car can be used for social, domestic and pleasure purposes and also for business purposes excluding the carriage of goods other than samples by the insured or his employees. The insurer will protect the customer against any loss or damage to the private car and its accessories during the following events:
- Fire, explosion, self ignition or lightning
- Burglary, housebreaking or theft
- Riot or strike
- Earthquake (fire and shock damage)
- Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
- Accidental external means
- Malicious act
- Terrorist activity
- Whilst in transit by road, rail, inland, waterway, lift, elevator or air
- Land slide, rock slide
11. What are the types of events or losses not covered under car insurance?
The following events or losses are not covered in this policy:
- Mechanical/ Electrical breakdown
- Wear and tear, ageing of vehicle
- Consequential loss*
- Depreciation
- Deliberate accidental loss
- Intoxicated driving
- Any contractual liability
- Damage to/ by a person driving any vehicle without a valid license
* Consequential loss is an indirect loss, which is not directly resulting out of a loss event, but arising as a consequence of loss event. For example, Mr. Singh was on his way to office for an important meeting with client. Unfortunately, his car met with a road accident resulting in damages to car and it consumed lot of his time. Due to this, he could not attend the meeting resulting in loss of approx 15 Lakhs. Damages to car due to the accident are covered, but the loss of 15 Lakhs is consequential and hence not covered.
12. What is a premium?
Premium is the fixed amount of sum paid for a policy period by the insured to the insurance company for the benefits or covers availed to take insurance policy and to complete the contract of insurance. For buying and renewal of car insurance online you can pay with credit card or net banking.
13. What is Depreciation Cover?
Depreciation car insurance cover provides you compensation without any deduction for depreciation on any replacement of parts arising due to accident. Depreciation Cover offers multiple advantages with just an additional premium amount covering;
- All plastic parts in case of a claim without applying depreciation
- All fibre parts in case of a claim without applying depreciation
- For any replacement of parts arising out of accident
- Vehicle up to 5 year of age from the date of registration
14. What is Hospital Cash Cover?
Hospital Cash is an additional insurance coverage to take care of allowances in hospital for those who sustained injuries by accident while travelling in insured car. It provides a fixed amount for cost of medical care availed per day at the hospital. Hospital Cash covers:
- Daily cash benefit on hospitalization
- Covers out of pocket expenses and other needs
- Covers the amount selected against per day of hospitalization
15. What is Roadside Assistance Cover?
Roadside Assistance Cover provides you services in the event of breakdown of your vehicle. You might require road assistance to tackle problems such as a flat tyre, a dead battery or keys getting locked inside your car.
16. What is Personal Accident for Family/ Passenger?
Personal Accident Insurance for Family/ Passenger covers monetary payouts towards injuries sustained by people/ passenger travelling in the car due to accident resulting in death or disablement. Personal accident insurance covers insured/his family/passengers travelling in the car at the time of accident. This add-on covers:
- Capital Sum Insured limited to maximum of Rs. 2 lacs per person
- Permanent total disablement
- Permanent partial disablement
- Accidental Death
17. What is the third party liability covered under Private Car package policy?
The Insured will be covered for any liability arising from any accident caused by or arising out of the use of the private car in respect of:
Death or bodily injury to third parties (unlimited liability)
Damage to the third party property (minimum of Rs.6000/- and max of Rs.7,50,000
18. What will happen when the customer sells his car?
If the customer sells the car to another person, the Insurance can be transferred in the name of the buyer. The buyer (transferee) has to apply for transfer of Insurance with us, within 14 days from the date of transfer of the vehicle in his name. If the customer wants to substitute another private car of his in this policy, the policy will not be transferred to the buyer. The buyer (transferee) has to buy a fresh insurance.
19. Can the music system or other accessories be insured?
Accessories can be insured under a comprehensive car insurance policy with an additional premium. Incase these are factory fitted they are automatically insured under the policy however insured needs to insure them separately if those are installed later. Insured will have to pay additional premium to cover the accessories in car insurance policy.
20. If I have a LPG/ CNG kit fitted in the car that is not endorsed in the RC, can I take a policy?
Policy will only be issued if the LPG/ CNG kit is duly endorsed on the RC (Registration Certificate) by the concerned RTO.
21. How is the value of the vehicle (IDV - Insured Declared Value) determined?
The IDV of the car is to be fixed based on the manufacturer's listed selling price of the brand and model, as the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation. The IDV of the side car(s) and/ or accessories, if any, fitted to the vehicle, but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed. The schedule of depreciation for arriving at IDV is as below:
Schedule of Depreciation for arriving at IDV
|
Age of the Vehicle
|
% of Depreciation for fixing IDV
|
|
Not exceeding 6 months
|
5%
|
|
Exceeding 6 months but not exceeding 1 year
|
15%
|
|
Exceeding 1 year but not exceeding 2 years
|
20%
|
|
Exceeding 2 years but not exceeding 3 years
|
30%
|
|
Exceeding 3 years but not exceeding 4 years
|
40%
|
|
Exceeding 4 years but not exceeding 5 years
|
50%
|
22. What is an endorsement?
An endorsement is a written evidence of an agreed change in the policy. It is a document that incorporates changes in the terms of the policy.
23. Can I get my money/unused premium refunded?
Refund is possible only when the policy is cancelled. The refund essentially depends upon the company and would be on short rate period. Customer must check the short rate calculations before cancelling his policy.
Customer needs to provide alternate copy of policy covering TP risks to cancel the policy.
24. Can I pay car insurance premium in installments?
As per section VB64 of Insurance Act, 1938 no risk can be resumed unless premium is received in advance. Hence, full car insurance premium needs to be collected before the start of policy.
25. How insured can obtain a duplicate policy? What are the charges?
Reach us at 080-49123900 and get assistance from customer
26. In case a person takes out a policy on a private car and later uses the car for commercial purposes, will the vehicle be covered?
No, since the insurance covers the car only for private use and not commercial purpose.
27. What is compulsory excess?
It is the amount which insured has to bear for each and every claim. It is levied as mentioned in the table below:-
| TYPE OF VEHICLES |
COMPULSORY DEDUCTIBLE (Rs.) |
| Private Cars including three wheelers rated as Private Cars (Not Exceeding 1500 cc) |
1000/- |
| Private Cars including three wheelers rated as Private Cars (Exceeding 1500 cc) |
2000/- |
| Motorized Two Wheelers |
100/- |
28. What is voluntary excess?
Voluntary excess is the extra amount over and above the compulsory excess. Voluntary excess is your option to opt for bearing a certain amount of loss from every claim. For this option, you are eligible for a discount on Own Damage Premium (ODP) as listed in the table below:
| VOLUNTARY DEDUCTIBLE |
DISCOUNT |
| Rs.2500 |
20% on the OD Premium of the vehicle, subject to a maximum of Rs.750/- |
| Rs.5000 |
25% on the OD Premium of the vehicle, subject to a maximum of Rs.1500/- |
| Rs.7500 |
30% on the OD Premium of the vehicle, subject to a maximum of Rs.2000/- |
| Rs.15000 |
35% on the OD Premium of the vehicle, subject to a maximum of Rs.2500/- |
