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New or
Renewal Insurance Policy
Looking to renew Car Insurance. Do not miss to compare various Features and Products
offered by Car Insurance Companies in India
Car Insurance is not a product to be taken Blind Foldly - as sold by Dealer Executive or
Insurance Agent.
Its an essential cover - which protect against unexpected loss / theft / repair and is an essential
part to make car ownership experience hassle free.
Through this article we attempt to cover in various add on covers offered by car insurance
companies -- so as to help in making an informed purchase decision at time of buying car
insurance.
Basic Covers offered under Comprehensive Car Insurance are: Theft of Car
Loss/Damage to Car to extent of Repair or IDV Value in case of Total Loss
3rd Party Liability - incurs loss to other vehicle or Driver
Type - Add ons Insurance
Cover
Zero Depreciation Cover Most Popular
Windshield Glass Cover
Benefit of Coverage
Depreciation is imposed at 30% to 50% on Plastic, Rubber,
Glass Parts. With Zero Dep Plan - no depreciation is
deductible or paid by owner. Available for maximum upto 5 yr
Old Car
If Front or Rear windscreen glass accidentally breaks and
needs to be repaired / replaced, Insurance company bears
the charges without impacting NCB Bonus
Covers the Vehicle at Original 100% On Road cost including
Road Tax been Paid. Available only in 1st Year. Useful to
recover sum in case of Vehicle Theft or Complete Loss of
Vehicle
Consumable Cover
Key Replacement
Emergency Transport and
Hotel Expenses
Car Engine can get stalled, if driven with Engine Oil Leakage
at accident or driven in water logged areas or engine
submerged under flood. Engine Protector cover is especially
useful for protecting against very high replacement cost of
Engine in Several Lakhs
Consumables like - Oils (Engine Oil, Brake Fluid, Clutch
Fluid), Coolant, Grease etc are not covered in
Comprehensive or Zero Dep Policy. But - there's a separate
add on cover wherein Consumables if changed due to an
accident - will be borne by Insurance Company
Part of Engine Protector Cover or can be taken Separately
which can happen due to repeated Engine Cranking - when
car stops suddenly in deep water. Due to repeated attempts
of trying Ignition on - Water can ingress into Engine and lead
to HydroStatic Lock.
Does not include Eletronic items like Laptops / Music System
/ Mobile Phones / Money / Credit Card / Jewellery etc . Only
includes Clothing / Shoe or Personal Toliteries if stolen from
car - This cover is at best avoidable
Especially useful for people with 1 car in family. If Car will
undergo repair for more than a day - then Insurance
company will provide Daily Conveyance allowance from Rs
150 to Rs 750 per day - depending on Office - Residence
distance
If vehicle keys which are Lost or Stolen. The covered cost is
limited to the money paid to locksmith to produce a new key
or even replacement cost of locks, if vehicle is broken into
Insurance Company pays towards the cost of overnight stay of at a distance of more than 50 Kms or taxi charges for
returning back, if the motor vehicle has met with an accident
and can not be driven
RoadSide Assistance
Coverage
Replacement
Premium
Windshield Protector
Additional 3% to 5% of Comprehensive Premium
Full Invoice Price
Basis IDV Value Difference - Valid in 1st Year Only
Engine Protector & HydroStatic Lock
Around 10% higher than Zero Dep Premium
Cover
Consumable Cover
Around 3% of Zero Dep Premium
Spare Car Clause
Basis Coverage Amount for Conveyance
Negotiate as part of inclusion. Else Rs 500 to 1000 / yr
RoadSide Assistance
additionally
Emergency Transport
Basis Policy Coverage
Know about Bumper to Bumper Car Insurance. Pros Benefits and Hidden
Clauses in Zero Depreciation Plan
However - one should still cross-check the policy statement clearly . Geographical area zone
if defined as Zone, Insurance company has a right to deny the claim - if claim happens
beyond that zone.
Reason 2 Any Accidental loss - where the car is been driven by or is for the purpose of being
driven by him/her in the charge of any person other than a Driver as stated in the Driver's
Clause.
Reason 3 Any accidental loss damage and/or liability directly or indirectly arising out of or
in connection with war, invasion, the act of foreign enemies, hostilities or warlike
operations, civil war, mutiny rebellion, military or usurped power
Reason 4 Any accidental loss or damage suffered whilst the Insured or any person driving
the vehicle with the knowledge and consent of the Insured is under the influence of
intoxicating liquor or Drugs
Reason 5 The Company shall not be liable to make any payment in respect of Consequential
loss (Consequential loss means Indirect losses which occurred due to accident - like time or
failure of reaching your destination on time due to accident etc), depreciation, wear and tear,
mechanical or electrical breakdown, failure or breakages
Reason 6 Any Consequential damage to the car is not payable by the insurance company
(Example of Consequential damage - If a car has met an accident and has started Engine Oil
Leakage. If the person driver does not switch off the engine - the Engine of the car can seize
and effectively is not payable for repairs and is neither covered in Car Insurance policy)
Reason 7 Deliberate Accidental loss where in court of law is proven for purpose which is
deliberately - due to what so ever reason - will not be covered under Car Insurance
Reason 8 If the car is not covered with Additional Zero Depreciation cover - Plastic Parts,
Rubber parts will carry depreciation as per there own slabs - which is upto 50%
Reason 9 Insurance is based on principle of utmost Good faith. If you have taken a claim
before with some other insurance company and while transferring the policy has by intention
or by mistake or by any other reason take NCB (no claim bonus) with same or some other
insurance company - any future claim even after a year or in next policy would also be
treated as Void - however small or big the loss could be.
Reason 10 If accident or theft happened beyond a single day after expiry of the policy, the
claim on it will not be payable by the Insurance company. As its a legal under-writing contact
which expires on the date as mentioned on the policy note.