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What is covered under your Car Insurance Policy: Inclusions and Exclusions

While the best Car Insurance in India policy offers maximum protection and includes most losses and damages, there are certain risks and situations that are excluded from claim benefits. When you Buy Car Insurance, it is important that you know about these inclusions and exclusions in detail so that there is no scope of ambiguity.

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Inclusions Exclusions

Natural Disasters:

Floods, earthquakes, cyclones, etc.  
 

Manmade Disasters:

Fire, terrorism, riot, strike, and accidents etc.
 

Personal Accident Cover for owner-driver:

Coverage of Rs. 15 lakhs for the owner-driver of the car and optional personal accident covers for passengers.

Third-Party liability:

Compensates for injury or damages to a person or property caused by you to another person in a car accident.

Drink and Drive:

Damages caused to the car if you or anyone else was caught driving under the influence of alcohol at the time of accident.

Staged Accidents:

Deliberate accidental loss is not covered. If it is proven that the accident was entirely staged, the claim would be rejected.

Illegal Activity:

Driving on the wrong side of the road or without a valid license, or if the car’s driven by an underage person.

Commercial Activity:

Driving your private vehicle for commercial purpose and vice versa
 

Other reasons:

An expired policy, consequential damages, electrical and mechanical failure, regular wear and tear, and driving outside geographical limits are other reasons for claim rejection.

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Bharti AXA gives you comprehensive car insurance at an affordable premium

All You Need to Know About Car Insurance in India

Here is your handy guide to understanding Car Insurance

What is Car Insurance?

Car Insurance is a vehicle policy to protect yourself from financial losses arising from unforeseen risks such as accidents, thefts or Third Party Liabilities. It is also known as auto or motor insurance. As per the Motor Vehicles Act, 1988, Motor Car Insurance is mandatory in India. You can avail Four Wheeler Insurance to obtain cover for you (insured party), your car (insured vehicle) and third parties (other vehicles and their property). You can renew or Buy Car Insurance for both new as well as pre-owned cars. The validity of a Car Insurance Policy is one year which means that you have to renew it annually before expiry. The car owners have to pay premiums to the Car Insurance company to buy the policy. You can claim the policy amount as reimbursement from the Car Insurance Company to cover the cost of damages incurred due to accidents or any subsequent liabilities. The cost of premium depends on several factors such as make, model, year manufactured, engine capacity, Insured Declared Value (IDV), location and driver's age/gender/marital status/occupation, among a few others. A Car Insurance policy gives you confidence and peace of mind about the safety of the owner-driver, vehicle and third parties. These days, you can even buy an Online Car Insurance policy without needing to visit the insurance company office in person.

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All You Need to Know About Car Insurance in India

What is Car Insurance?

Car Insurance is a vehicle policy to protect yourself from financial losses arising from unforeseen risks such as accidents, thefts or Third Party Liabilities. It is also known as auto or motor insurance. As per the Motor Vehicles Act, 1988, Motor Car Insurance is mandatory in India. You can avail Four Wheeler Insurance to obtain cover for you (insured party), your car (insured vehicle) and third parties (other vehicles and their property). You can renew or Buy Car Insurance for both new as well as pre-owned cars. The validity of a Car Insurance Policy is one year which means that you have to renew it annually before expiry. The car owners have to pay premiums to the Car Insurance company to buy the policy. You can claim the policy amount as reimbursement from the Car Insurance Company to cover the cost of damages incurred due to accidents or any subsequent liabilities. The cost of premium depends on several factors such as make, model, year manufactured, engine capacity, Insured Declared Value (IDV), location and driver's age/gender/marital status/occupation, among a few others. A Car Insurance policy gives you confidence and peace of mind about the safety of the owner-driver, vehicle and third parties. These days, you can even buy an Online Car Insurance policy without needing to visit the insurance company office in person.

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Key Benefits of Car Insurance

Most people think of Four Wheeler Insurance as an expense. On the contrary, it should be considered a wise investment on account of following key benefits it offers:

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  • Coverage against
    • Damage or loss to your car against accidents.
    • Damage or loss due to manmade disasters such as theft, fire and riots.
    • Damage or loss due to natural calamities such as flood, earthquake and storms.
    • Damage or loss of life of owner-driver.
    • Financial and legal liability arising out of death, bodily injury or loss/damage caused to property owned by a third party.
    • The repairs of vehicles in case of damages due to an accident.
  • Benefits to survivors in case of death due to an accident.
  • Avoid a dent in personal savings in case of loss and damage due to unfortunate events related to your car‐little savings today can save you from big financial trouble tomorrow!
  • Saving time in finding garages and claim settlements which can be tedious and stressful in the aftermath of accidents.
  • Availability of Add-On Covers to provide life coverage to co-passengers, meet medical and hospital cash expenses, cover expenses of replacing lost and stolen key, counter depreciation and more.
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Most important to note, Car Insurance is mandated by law in India

Types of Car Insurance Plans

There are two types of Motor Car Insurance plans you can avail:

Third-Party Liability

This is the minimum and compulsory Four-Wheeler Insurance cover that you need to take as per the motor law in India. This type of insurance policy provides coverage with respect to property damages, injuries, disability or death of third parties such as pedestrians as well as drivers and occupants of other vehicles. However, this type of insurance protects the interest of only third parties, not yours.

Third-Party Liability Plan:

Inclusions

  • Compensation for bodily injury to third parties due to an accident caused by your car.
  • Compensation for property damage to others due to an accident caused by your car. This property could be a car or any other property of third parties.
  • Compensation to survivors in case of death of third parties due to an accident caused by your car.

Exclusions

  • Compensation for your injury or property damages.

IRDAI (the Insurance Regulatory and Development Authority of India) revises the rates for third-party coverage every year.

As per the recent guideline by Insurance Regulatory and Development Authority of India, all insurers are directed to offer three year Third-Party Liability for new four-wheeler vehicles. Hence, the policy for a new Four-Wheeler vehicle will cover the TP premium for 3 Years

As of 16th June 2019, the third-party insurance premium rates are as mentioned below

Engine Capacity TP Premium for Renewal of existing vehicle (Annual)* TP Premium for New Vehicle(3 Years Policy)
Less than 1,000cc Rs. 2,072 Rs. 5,286
Above 1,000cc but less than 1,500cc Rs. 3,221 Rs. 9,534
More than 1,500cc Rs. 7,890 Rs. 24,305

Note: Third-party property damage is compensated up to Rs. 7.5 lakh. In case of injuries/death, the court tribunal will make the decision on the payout.

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Comprehensive Cover

This insurance policy provides protection to you, your car and third parties against all possible risks. It covers natural calamities such as floods, earthquakes, landslides and storms, and also manmade disasters such as thefts, riots and strikes. Given the all-around coverage that comprehensive covers offers under one umbrella, this type of Four-Wheeler Insurance policy is ideally recommended for all cars.

*Both the third-party liability and comprehensive cover plans also include the compulsory personal accident cover for owner-driver with a premium of Rs.750 per year, for which the owner-driver is liable to receive a sum assured amount of Rs15 lacs in case of:

Type of Injury Compensation Level
Death 100%
Loss of two limbs or sight of two eyes or one limb and sight of one eye. 100%
Loss of one limb or sight of one eye 50%
Permanent total disablement from injuries other than named above. 100%
 
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Add-On Covers with Your Car Insurance Policy

A Motor Car Insurance policy covers losses and damages to your car as well as third-party cover. However, if you want to provide additional protection to your car, then Add-On Covers are recommended. They are optional, and you can avail them by paying a little extra over the base premium. But, they are worth every penny. These Add-On Covers are also availableon Online Car Insurance policy.

Here is a list of various Add-On Covers :

Zero Depreciation cover

This add-on saves you from paying depreciation on the expenses of repair or replacement of parts such as glass, fibre, rubber or plastic.


Roadside Assistance (RSA Cover)

Just in case you get stranded in the middle of the road due to a car breakdown, you can fetch help with just one call at any time of the day or night. Roadside assistance cover includes towing service, repairs, changing flat tyres and emergency fuel refuelling.


Invoice Price Cover

When you make a claim, it is settled against the depreciated value of the car. However, this Add-On Coverenables you to get the invoice value as well as registration fees, road tax and insurance.


Medical expenses

This Add-On Covers medical expenses up to Rs10,000 in case the owner-driver and co-passengers are injured during an accident.


Key replacement

This add-on reimburses you for the cost incurred due to the replacement of lost or stolen car lock or key. It holds validity up to 2 claims during a policy period.


Consumables cover

All expenses incurred on car consumables such as nuts, bolts and oil that unfit for further use can be reimbursed under this add-on.


Hospital cash

If you are admitted to a hospital in the event of an accident, you can get Rs.1000 every day up to 30 days of hospitalization.


Engine and gearbox cover

If there is a vehicle breakdown due to the internal parts of engine and gearbox, this Add-On Cover can pay for the expenses.


Ambulance charges

This add-on provides coverage against the transportation cost of the ambulance carrying the insured person to the hospital. 


 Benefits of Car Insurance Renewal/ Purchase from Bharti AXA

It is advisable to Buy Car Insurance only from well-established and financially stable companies. Bharti AXA has a proven track record and is one of the best Car Insurance company in India. It offers the best insurancepolicies on all cars and models. Its services ensure that you never run from one post to anotherto seek policy assistance. The benefits offered by Bharti Axa on Car Insurance Renewal and purchase are:

 

Car Insurance Things to Know

There are certain terms and facts that you should know about Car Insurance to buy a suitable policy:


What is IDV?

Insured Declared Value (IDV) is the maximum sum assured amount that the insurance company will compensate for the claim. It is the current value of your car. It is considered during the calculation of premium and changes every year after adjusting the depreciation.


What is No-Claim Bonus (NCB)?

NCB is the discount that insurance company offers if the policyholder does not make a single claim during the policy period. You can accumulate up to 50% NCB discount for every claim-free year till 5 years.

No. of Years Discount
One claim-free year 20%
Two consecutive claim-free years 25%
Three consecutive claim-free years 35%
Four consecutive claim-free years 45%
Five consecutive claim-free years 50%

What is zero depreciation cover?

Zero depreciation cover is a benefit under which the depreciation of the car is not factored by the insurance company. So, if there are damages to your car due to an accident, the insurance company will pay the complete coverage of the policy.


How is Car Insurance premium calculated?

There are a number of factors that determine the Car Insurance premium:
  • Car - the model, make, fuel type, cubic capacity, years of use and purpose of use.
  • Insured Declared Value (IDV) - Lower the IDV, lower the insurance premium. However, you should choose IDV which provides adequate coverage to you and your vehicle.
  • No-Claim Bonus (NCB) - You get a discount on Car Insurance Renewal premium if you haven't made any insurance claims during the previous policy period.
  • Location - area of registration, whether the vehicle will be used in the urban locality, on highways or in non-metro areas. For example, the premium amount is higher if the location is prone to thefts or accidents.
  • Driver- age, experience, gender, marital status and background of the driver also matters. If the car is being driven by more than one driver, then the premium will be higher. If the driver is experienced, the premium will be lower.

What are cashless claims?

Cashless claims help you to get your vehicle repaired without paying cash at the network of the garages of the insurance provider. The insurance company will pay the claim amount directly to the garage.


Stepwise Procedure

You can buy insurance by visiting any branch of the insurance company in person. Alternatively, you can easily buy Online Car Insurance through the following steps.

Step

01

Select ‘buy’ or ‘renew’ option under car insurance.

Step

02

Enter a vehicle and personal details.

Step

03

Choose Add-On Covers  and discounts, if applicable to arrive at the final premium amount.

Step

04

Add complete details. Check the summary. Make the payment.

Step

05

You will get the policy in PDF form in your email.

Note: Before issuance of policy, vehicle inspection may or may not be conducted depending on the credibility of your vehicle and your driving records.

Documents Required to Buy Auto Insurance

The insurance companies need minimum documentation from Four-Wheeler Insurance buyers. Check out the list of various documents you need to provide.

  • The application/proposal form provided by the insurance company.
  • A copy of the Registration Certificate (RC).
  • Invoice copy of the new car.
  • Identity and address proof.
  • Previous insurance policy along with proposal form, RC and No-Claim Bonus (NCB) letter in case of Car Insurance Renewal Online as well as offline.

Do note that the insurance can be purchased only by a person who owns a car and is aged 18 years or above. You should make sure to provide complete and accurate information about your car and personal details in order to determine the correctIDV and premium amount. In case the details are misrepresented, they can affect not only the premium but also terminate your policy.
You can request the document list either when you Buy Car Insurance online or visit any insurance company branch/advisor.

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Things to Remember Before Buying a Car Insurance Policy

Buying a Car Insurance policy should not be a random decision. You should buy only the best Car Insurance in India. It requires due diligence and consideration of the following factors:

Reputation of Insurance Company

Choose the best Car Insurance company with an established brand reputation and financial stability. Check out how long the company has been operational in the market, what experience it has and how many policies it has issued so far.

Claim Settlement Ratio

When checking the background of the insurance company, do pay close attention to its claim settlement ratio. You should check how many claims the insurer has settled against the claims received in a stipulated period. Usually, the claim settlement ratio is easily available on the company portal or other reputed websites such as IRDAI.

Comparison

There are several insurance companies offering various types of car policies. It is recommended that you make a comparison of the features, benefits and prices of these policies. You can get a Car Insurance quote online easily. Remember that a policy with a cheap premium may not be necessarily the best for your car! Choose only the best Car Insurance in India for 360-degree coverage.

Premium

The premium you pay on the Car Insurance policy should be affordable while offering maximum benefits and value for the price. Try to understand all those factors that affect the premium amount. If you are comparing prices online, you can ask insurers to send Car Insurance quote online.

Network of Garages

When your car is damaged, there are umpteen things running on your mind. Moreover, accidents can happen anywhere, just not in your city or state. Now, you don't want to add the additional stress of finding a reliable garage to get the repairs done. Hence, it is important to buy the car policy only from that insurance company which has a strong network of garages PAN-India. Before you buy the policy, ask the insurer for the list of garages it has a tie-up with.

Cashless Claims

Usually, when you make a claim, the insurance company asks you to present the bills and then makes the reimbursement. This involves a lot of headache and paperwork for you. However, cashless claims can ensure that the insurer settles the bill directly with the garage and you don't have pay upfront. All you have to do is senda claim intimation to the insurance company. So, choose an insurer which offers the facility of cashless claims.

Customer Service

No car policy promises made by the company are good if it can't serve its customers well, especially after sales and service and at the time of claim settlement. Look for an insurance company which offers 24/7 customer support and can guide you properly at every step. Go through online customer testimonials and reviews on the internet to get an ideaof the company's customer service.

Online Car Insurance Policy

Choose an insurance company which offers Online Car Insurance policy. It is not only hassle-free and time-saving to buy the policy, but the premium of online policies is lower too. You can even do Car Insurance Renewal Online.
Car Insurance is a gateway to your peace of mind when you are driving your car. As soon as you buy a car, insurance should be your first priority. You should also remember to renew your car policy timely to avoid any losses or putting your security at risk. Buy thebest Car Insurance policy in India now!
If you need any guidance on how to get car insurance, get in touch with Bharti AXA.

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What Do Our Customers Say?

Every single day, we find joy in serving millions of happy customers. And their response has been overwhelming. See what they say about us.

Car Insurance by Manufacturer

Want to buy motor insurance policy for your car? Bharti AXA provides insurance for a wide range of cars across all manufacturers. Select the desired car manufacturer and get all details such as premium details, claim form, car insurance add-on covers as well as details of the respective car model that you’re looking for. Learn everything about your manufacturer and how Bharti AXA car insurance is the ideal choice for protecting your vehicle.

Car Insurance Policy Renewal Reminder

It may be hard to remember the car insurance policy renewal date. We at Bharti AXA understand this, and have a special facility called ’Policy Renewal Reminder’ for you. So you can rest assured that you will never miss a premium.

All you need to do is fill in your details. We’ll remind you when your policy renewal date is near.

Car Insurance FAQs

  • Car Insurance after GST

Goods and Services Tax, popularly known as GST, is a reform for our economy’s indirect tax plan. Car insurance premium includes 15 percent as the service tax. It will be increased to 18 percent after GST 

  • Is it possible to opt for an add-on without a policy?

No, it is not possible to opt for an add-on without a policy. Our add-ons are available only in addition to our motor insurance policy.

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