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Motor Insurance

Applicant Information

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City
Annual Income

Vehicle Information

Insurance For
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Vehicle Number
Renewal

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YCalculated premium – suggested insurers

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About Motor Insurance

What’s covered

Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, house breaking or theft, malicious act.

Liability for third party injury/death, third party property and liability to paid driver

On payment of appropriate additional premium, loss/damage to electrical/electronic accessories

What’s not covered

Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage

When vehicle is used outside the geographical area. War or nuclear perils and drunken driving

Types Of Insurance

Car Insurance

The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.

Two Wheeler Insurance

This covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.

Types of motor insurance

Car insurance

Two wheeler insurance

Commercial vehicle insurance

Car Insurance

The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.

Two Wheeler Insurance

This covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.

Commercial vehicle insurance

Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:

Auto insurance comes with two segments of cover Third party cover and Comprehensive Cover.

Third party cover

It covers the liabilities, the insured party has to pay due to damage or injury occurred to any other individual by him/her. The insurance does not cover any damage being caused to one's own property.

Comprehensive cover

It takes care of damage to the individual's own vehicle due to natural calamity like flood, earthquake or man-made calamities like theft, burglary, riot, strikes etc. It also covers damage to the third party as well. So the premiums for comprehensive policy covers are costlier compared to third party insurance covers.

What’s covered

Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, house breaking or theft, malicious act.

Liability for third party injury/death, third party property and liability to paid driver/p>

On payment of appropriate additional premium, loss/damage to electrical/electronic accessories/p>

What’s not covered

Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage

When vehicle is used outside the geographical area. War or nuclear perils and drunken driving

The premium may vary depending following factors

The car characteristics

IDV insured declared value which is car market value minus depreciation. Premium decreases each year at renewal as depreciation increases each year

For private cars the make, model and year of manufacture, the location in which the vehicle will be driven also play role in determining the premium amount.

The profile of the driver –

Age – younger drivers get higher premiums due to no driving history

Gender- gender & profession influences premium

Driving history- less accidents history will get less premium

Claim history – no claims history will get no claims bonus

The usage of the car

Commute to work or not, kind of places it’s driven in, predicted annual distance driven might influence premium amount

Disclaimer: Please note that the information provided is collected from insurers online sources and other publicly available resources & which we believe to be reliable. Thepolicymart doesn't warrant the accuracy, reliability & absoluteness of information provided on the website. Participation by site visitors or registered customers is on a voluntary basis. The policies are offered by various life Insurance & non-life insurance offering companies and thepolicymart.com does not seek to, either directly or indirectly, advise, offer, solicit or recommend that any person who is or proposes to become its member should purchase the Policy.