Is it mandatory to take car insurance?

Yes, it is mandatory to have car insurance in India as per the Motor Vehicles Act, 1988. The law requires every vehicle on Indian roads (old/new) to have at least third-party liability insurance, which covers any damage or injury caused by your vehicle to a third party. It is illegal to drive a car in India without valid insurance coverage.

What type of insurance I can buy for my car?

Car insurance in India includes Third-Party Liability Insurance, which is mandatory by law and covers damages or injuries to third parties. Comprehensive Insurance covers both third-party liability and damages to your own vehicle and may include additional benefits such as theft, fire, and personal accident cover.

What is NCB?

NCB stands for No Claim Bonus. It is a discount offered by insurance companies on the premium amount for not making any claims during the previous policy period.

What is IDV in car Insurance?

IDV, or Insured Declared Value, is the maximum sum assured by an insurance company that will be paid to the policyholder in case of total loss or theft of the insured vehicle.

What are the factors that can affect car insurance premium?

There are several factors that can affect the premium you pay for car insurance, including:
- Age and driving experience of the driver
- Make and model of the car
- Age and condition of the car
- Location where the car is primarily used and parked
- Usage of the car (personal or commercial)
- Previous insurance history and claim record
- Add-on covers and benefits selected
- Type and level of coverage selected
- Deductibles and voluntary excess chosen
- Credit score of the policyholder (in some cases)

Each insurance company has its own underwriting criteria, and the premium may vary depending on the weightage given to each factor.

Can I transfer my NCB to new vehicle?

Yes, you can transfer your NCB to a new vehicle if you sell your old vehicle and purchase a new one. The NCB can be transferred to the new vehicle if the policyholder is the same and the new vehicle is of the same class as the old one. The transfer of NCB can lead to a reduction in the premium amount for the new vehicle's insurance.

What is zero depreciation or zero Dep?

Zero depreciation is an add-on cover available with a comprehensive car insurance policy. It provides complete coverage for the replacement or repair of car parts without considering the depreciation factor. It helps to reduce out-of-pocket expenses for the policyholder, especially for new or expensive cars.

How many times I can claim my zero dep cover?

Generally, It is allowed two times during policy period, once the limit is exhausted, you have to pay for repair and replacement of the parts. It is advised to make claim only when the repairs requires heavy expenses.

Does zero dep cover, covers each part of my car?

Usually zero dep cover includes all parts excluding tubes and tyres but you should always double check with insurer.

What are the steps to raise a car insurance claim?

To make a car insurance claim in India, you should first inform your insurance company immediately and provide all details about the incident. If needed, file an FIR and document the damage. Get an estimate of the repair cost from an authorized dealer or workshop. Submit the claim form with necessary documents like FIR copy, vehicle registration, driving license, and insurance policy. Await inspection and approval from the insurance company. Once approved, pay any deductibles or excesses and collect your vehicle after repairs are done. It is important to follow the correct procedure and provide all necessary documents for a hassle-free claim settlement process.