Car Insurance
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Drive Worry-Free: Your Road to Safe and Secure Journeys
Drive Worry-Free: Your Road to Safe and Secure Journeys
A policy that offers financial protection against the loss or damage to a vehicle resulting from a variety of situations is known as car insurance or four-wheeler insurance. As per the Motor Vehicles Act of 1988, it is an obligatory condition for all vehicles that are driven on Indian roads. The main goal of car insurance is to lessen the financial strain brought on by theft, weather related, accidents, and third-party obligations.
01. This is mandatory and covers the legal liability arising out of injuries or damages caused to a third party (individual or property) by your vehicle.
02. It does not cover damages to your own vehicle.
01. This is optional but provides broader coverage.
02. It includes third-party liability coverage and also covers damages to your own vehicle due to accidents, theft, natural disasters, and other perils.
03. Additional add-ons may be available to enhance coverage, such as zero depreciation, personal accident cover, and more.
Here are the top 4 benefits of having car insurance:
Hospital care can be expensive in the event of an automobile collision including injuries to third parties. If you have third-party coverage, the third party receives the necessary care since the insurance company covers the cost of the therapy.
What happens when a driver of a private vehicle has to swerve in the center of the road to save a stray dog and ends up crashing into a parked automobile instead? The driver of the first car may be held accountable if there is any damage to the other vehicle.
If the owner-driver is injured and becomes permanently disabled, they will be unable to earn a living. In such cases, the car insurance provider pays monetary reimbursement to the owner-driver. Car insurance in India is mandatory, which ensures a dignified life for the owner/driver.
Car accidents kill thousands of people each year. While death brings enormous pain to loved ones, the consequences of the person's passing are also deep. If the owner-driver is the sole breadwinner for the family, their death can put financial strain and instability on the family. Personal accident insurance assures that the owner-driver's surviving family members can support themselves.
| What is covered? |
|---|
| Theft |
| Accident |
| Fire and Explosion |
| Natural Disasters |
| Personal Accident |
| Third-Party Losses |
| Riot and Strikes |
| What is not covered? |
|---|
| Driving when intoxicated |
| Damage during war or similar conditions |
| Damage due to wilful negligence |
| Damage due to regular wear and tear |
| Driving without a license |
| Claims regarding any personal item in the car |
| Regular servicing |
Add-on covers provide an opportunity for policyholders to enhance their coverage by paying a slightly higher premium. These extensions to the policy offer added convenience for car owners in handling diverse situations. Examples of such add-on covers include roadside assistance, key replacement, return to invoice, and more.
Some essential add-ons are:
The Roadside Assistance Cover offers car owners on-road assistance services in the event of a breakdown. With a simple call to the insurance company, a mechanic is promptly arranged to inspect the vehicle and provide the necessary assistance. This add-on cover includes various services such as changing a flat tire, minor on-site repairs, car towing, fuel delivery, arrangement of replacement car keys, battery jumpstart, and more.
The Engine Protection Cover offers coverage for any potential loss or damage incurred by the car's engine due to issues like water ingression, oil spill, electrical or mechanical breakdown, and more. This add-on also provides financial assistance for the replacement of the car's engine or its components. Similar to the zero depreciation cover, the engine protection cover is exclusively available for cars that are not older than five years.
A car insurance policy serves as a protective plan, shielding our vehicles from a wide range of potential damages or losses. With the challenging conditions of traffic and roads, experiencing a vehicle breakdown has become a common occurrence. In such situations, the costs associated with necessary repairs can be exorbitant. Considering these unforeseen incidents, it is essential for individuals to ensure their vehicles are covered by a comprehensive car insurance policy.
A typical car insurance policy does not cover the replacement of lost or stolen car keys resulting from theft, burglary, or other damages. However, the 'Key Replacement' Cover addresses this limitation. This add-on cover offers coverage for expenses related to replacing the keys of the insured car. Additionally, it includes the cost of repairing the lock-set of the car in situations where the keys have been lost, stolen, or damaged.
The Daily Allowance Cover is an additional coverage option that offers a travel allowance to offset day-to-day travel expenses when the insured car is undergoing repairs at a garage. This add-on compensates the car owner for any travel costs associated with renting a vehicle or using public transport during the period when the car is being serviced at the network garage. It's important to note that this coverage applies exclusively when the insured car is undergoing repairs at the designated network garage of the motor insurance company.
The Zero Depreciation Cover is an additional insurance option that alleviates the impact of depreciation on a car's parts, allowing the car owner to receive a higher claim amount. This add-on ensures that the depreciation cost is not subtracted when settling the claim amount. Commonly referred to as nil depreciation or bumper-to-bumper car insurance, this coverage is typically offered for cars aged up to five years. It's worth noting that certain insurers may restrict the number of zero depreciation claims, with some allowing only up to two claims, while others may permit an unlimited number.
The Loss of Personal Belongings Cover is an additional insurance option that provides compensation for the loss of personal items either stolen from the insured car or taken along with the car. This add-on cover also covers any damages incurred by personal belongings inside the car. It extends coverage to a range of personal items, including electronic equipment.
A No Claim Bonus Protection cover safeguards the No Claim Bonus (NCB) of a car owner, ensuring that it remains unaffected even if a claim is filed. This feature allows car owners to avail of NCB benefits in terms of premium reduction, regardless of whether a claim was made in the previous policy year. It's important to note that the NCB protection cover is applicable only to the own-damage premium. The third-party component of the total premium is determined by the IRDA (Insurance Regulatory & Development Authority of India) and remains unchanged.
Comprehensive Insurance is highly recommended as it provides complete coverage for your car. However, for older cars, a third-party policy is a cost-effective choice, offering mandatory coverage.
Purchasing or renewing car insurance online takes a few minutes. Visit metassure.ai, input details, pay the premium, and get an instant policy.
Trim your four-wheeler insurance premium by opting for a higher deductible, installing anti-theft devices, building your No Claim Bonus, avoiding unnecessary add-ons, and thoroughly comparing plans online.
Driving without at least third-party coverage is illegal in India. Penalties include fines and potential imprisonment for repeated offences.
No, the No Claim Bonus cannot be transferred to the new owner. It remains with the policy holder and can only be transferred to the new car of the same owner
No, your personal motor insurance policy typically doesn’t cover rental cars. Rental agencies usually offer separate insurance.
Protecting your vehicle and yourself on the road is just a few clicks away. Get a free quote today and let us help you find the Car insurance solution that best suits your needs. Drive with confidence knowing that you're covered by Metassure. Your safety and peace of mind are our top priorities:
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