Motor Insurance
Type of Motor insurance
Met with a car accident and can’t handle the expensive repair ? No worries! With the right motor insurance, your sweet ride will return to its original self in no time. Find the best benefits and coverage for your vehicle right now with us.
Commercial Vehicle Insurance
Geared towards vehicles used for commercial purposes like goods-carrying trucks, buses, taxis, and other commercial vehicles, this insurance provides coverage for both third-party liability and own damage, tailored to the needs of commercial vehicle owners.
Two-Wheeler Insurance
Tailored specifically for two-wheeled vehicles such as motorcycles, scooters, and mopeds, this insurance offers protection against various risks by covering both third-party liability and own damage.
Personal Accident Cover (PAC)
While often included within comprehensive motor insurance policies, this cover can also be obtained as a separate policy. It offers compensation in the event of bodily injury, disability, or death of the insured due to an accident.
Usage-Based Motor Insurance (UBI)
A relatively recent development, this insurance utilizes telematics technology to monitor a vehicle's usage and driving behavior. The insurance premium is determined based on the data collected, encouraging safer driving habits and granting lower premiums to responsible policyholders.
Third-Party Property Damage Insurance
In some instances, insurance companies may offer a limited version of motor insurance solely covering third-party property damage while excluding own damage to the insured vehicle.
Vintage and Classic Car Insurance
Catering specifically to vintage and classic cars, this insurance provides coverage for their distinctive requirements, including specialized repairs and replacement parts.
Electric Vehicle (EV) Insurance
With the rising popularity of electric vehicles, certain insurers offer dedicated insurance plans tailored to the unique needs and risks associated with electric cars and two-wheelers.
Bundled Insurance
Some insurance companies provide bundled insurance packages that combine motor insurance with other coverage types, such as home insurance or health insurance, presenting comprehensive solutions for policyholders.
Different Type of Motor insurance policies
Third-Party Liability Insurance
This is the basic and mandatory form of motor insurance required by law for all vehicles under the Motor Vehicles Act, 1988. Third-party liability insurance provides coverage for the legal liabilities of the insured towards third parties in case of an accident. It includes:
- Third-Party Property Damage: Covers the cost of damages to another person's property (e.g., vehicle, building) caused by the insured vehicle.
- Third-Party Bodily Injury or Death: Provides coverage for bodily injuries or death suffered by a third party due to an accident involving the insured vehicle.
- Third-party liability insurance does not cover damages to the insured vehicle or the insured person. It is solely focused on protecting third parties against losses arising from the insured vehicle's use.
Comprehensive Insurance
- Comprehensive insurance, also known as “Package Policy,” provides broader coverage compared to third-party liability insurance. It includes both third-party liability coverage as well as protection for the insured vehicle and the insured person. Comprehensive insurance offers the following coverages:
- Own Damage Cover : Provides coverage for damages to the insured vehicle due to accidents, theft, fire, natural disasters, vandalism, and other specified perils.
- Personal Accident Cover : Offers compensation in case of bodily injuries, disability, or death of the owner-driver of the insured vehicle.
- Third-Party Liability : As mentioned earlier, this covers legal liabilities towards third parties as mandated by law.
Additionally, comprehensive insurance policies often offer optional add-on covers that policyholders can choose to enhance their protection further. Some common add-on covers include zero depreciation cover, engine protection, roadside assistance, consumables cover, and more.
Comprehensive insurance provides a more holistic and extensive protection to vehicle owners, and while it is not mandatory by law, it is highly recommended to safeguard against various potential risks and uncertainties associated with owning and driving a vehicle.
Add-ons
Zero Depreciation Cover
This add-on ensures that the policyholder receives the full claim amount without factoring in depreciation on the vehicle’s parts during repair or replacement.
Engine Protection Cover
It provides coverage for damage to the vehicle’s engine and its parts due to water ingression or oil leakage, which may not be covered under a standard policy.
Return to Invoice (RTI) Cover
In case of total loss or theft of the insured vehicle, this add-on compensates the policyholder with the original invoice value of the vehicle, rather than the current market value.
No Claim Bonus (NCB) Protection
With this add-on, policyholders can retain their accumulated No Claim Bonus even after making a claim during the policy term.
Roadside Assistance Cover
It provides assistance in case of breakdowns, flat tires, fuel assistance, battery jump-start, and towing services.
Consumables Cover
This add-on covers the cost of consumable items like nuts, bolts, engine oil, brake fluid, etc., that are not usually covered under a standard policy.
Key Replacement Cover
It offers coverage for the replacement cost of lost or stolen vehicle keys.
Personal Accident Cover for Passengers
Extends personal accident cover to passengers traveling in the insured vehicle.
Daily Cash Allowance
It provides a daily cash benefit to the insured during the period when the vehicle is in the garage for repairs after an accident.
Loss of Personal Belongings
This add-on covers the loss or damage to personal belongings kept in the insured vehicle during an accident or theft.
Invoice Price Cover
It compensates for the shortfall between the Insured Declared Value (IDV) and the invoice value of the vehicle in case of total loss.
Medical Expenses Cover
Covers medical expenses incurred by the insured or passengers in the event of an accident.
Why you should buy motor-insurance
- Legal Requirement
- Financial Protection
- Coverage for Own Vehicle
- Personal Accident Cover
- Peace of Mind
- Third-Party Liability Cover
- Protection from Natural Calamities
- Protection against Theft and Vandalism
- No Claim Bonus (NCB)
- Legal Assistance
- Affordable Premiums
- Compliance with Lenders