Why you need a Vehicle/Car Insurance Cover?

Vehicle/Car Insurance insures your vehicle from accidental compensation for third party person or third party property and any damage due to  accident of your vehicle is important as well as mandatory. 

What does Car Insurance cover?

Car Insurance can cover

1. Theft and Loss or Damage to the vehicle from fire, riot, malicious act.
2. Liability to Third Party on death, bodily damage to any person including occupants
3. Liability to Third Party property
4. Accidental Death or Permanent Disability of the Owner-Driver.

How to calculate valuation of the car you need?

The valuation of the Car is popularly known as IDV [Insured Declared Value]-          On purchase of a new vehicle the valuation would be the Ex-showroom cost of the vehicle.- On renewal of the vehicle/car Insurance the value is deducted by depreciation. This would depend from company to company. Usually IDV would be mentioned on your renewal notice. 

What are the Papers required for applying for a vehicle/Car Insurance?

1. In case of a new policy, RC Book copy can help in easy issuance of policy.
2. In case of a renewal – previous Insurance policy would be required.

1. Check the IDV before finalizing any quotation. IDV could be easily manipulated to give you a lower premium than market.
2. Check for Voluntarily Deductible – it means the amount that you would share with the insurance company on any claim that would be lodged.
3. If you have a driver, we recommend you take a separate accident policy for him
4. Accessories [stereo etc] can be insured as a part of the Insurance on paying an extra cost.