1. Comprehensive car insurance policy

The most comprehensive sort of car insurance covers third-party liabilities as well as own damage expenses, loss from theft, natural disasters, etc. In the event that your car is stolen or irreparably destroyed, you will be compensated with the IDV or the full market value.

2. Standalone third-party car insurance policy

Driving on public roadways is required to follow this basic policy. It covers harm to third-party property, injuries to third-parties, medical expenses, and third-parties' deaths.

3. Standalone own-damage car insurance policy

This coverage covers losses to the policyholder's car caused by own-damage. This excludes coverage for third-party automobile insurance.

• No Claim Bonus Protection : In general, you become eligible for NCB deduction at the time of renewal if you don't file a claim under your policy. You can file a certain amount of claims with this add-on insurance and still receive the NCB discount.

• Zero Depreciation Cover : You will receive the full amount insured without any deductions for part depreciation if you choose the Zero depreciation add-on. 

• Roadside Assistance Cover : 24/7 breakdown support is available for towing or emergency mechanic services.

• Daily Allowance Cover : Until your car is fixed and ready to go back on the road, you will be reimbursed for the expense of using other forms of transportation.

• Emergency Transport and Hotel Expenses Cover : With this add-on, which is included with comprehensive car insurance, you can receive reimbursement for the cost of overnight lodging and transportation to the city that is closest to your destination if you become stranded following an accident.

• Key Replacement Cover : When your stolen vehicle is found or if you lose your keys, you can replace them with this add-on.

• Engine Secure : Your engine needs to be safeguarded if you reside in a region that frequently experiences flooding or waterlogging. You won't have to pay additional costs out of pocket if you choose this option to your comprehensive car insurance plan.

• Tyre Secure : This add-on will pay for the expense of repairing a punctured tyre or tube.

Here is a step by step guide to raise a car insurance claim if your car has met with an unforeseen accident:

• Intimate the Insurance Company: First and foremost, contact the insurance provider as soon as possible. Inform them of the accident. You must drive your car to the shop to get an estimate of the damage, and then you must submit a properly completed claim form and the required paperwork to the insurance provider. 

• Inspection: To evaluate the damages, the insurance company will send a surveyor. The surveyor will write a report, give it to the insurance, and give you a copy as well. Your car will be transported to the network garage for repairs based on the surveyor's findings.

• Submit Documents: After the work is finished, you must provide the surveyor with the properly completed repair invoice, payment receipt, and other documents. The surveyor will then submit the information to the insurance provider.

• Cashless Claim: If all the necessary paperwork is in order, the insurer's network garage will repair your car. The insurance company will then directly settle the claim with the network garage through cashless claim settlement.

• Reimbursement Claim: If you need reimbursement, you should first pay the shop where you had your car fixed. The repair cost will then be credited back to your account in accordance with the terms and conditions of the policy.

Important : Remember that the insurance company will not reimburse your bills if you do not submit them immediately after your car is released from the garage. So you cannot keep the small bills and hope to submit them at the end of the year.

The motor insurance claim process in the case of third-party insurance is slightly different. Follow these steps for a third-party claim:

• Do not communicate with a third party if they have issued you a legal letter requesting a claim before notifying your insurance provider. Don't forget to contact your insurer before agreeing to any financial commitments or out-of-court settlements.

• Submit a copy of the notice to your insurer.

• Additionally, copies of the car's RC book, your driver's licence, and the FIR must be sent.

• If the insurer finds the accident and the documentation to be adequate, they will appoint a lawyer for you.

• If the court orders you to pay the third party's damages afterward, the insurance company will pay the third party's debts on your behalf. The third party's age, occupation, and income all affect the third party claim amount.

Here is how to report the theft of your vehicle if it has been stolen:

• First, report the incident to the police by filing a FIR.

• Submit a Copy of the FIR to the insurance provider.

• Make a copy of the final police report (a non-traceable record stamped by the court) as soon as you receive it, and provide it to your insurance company.

• For additional claim-related investigation, the insurance company will assign an investigator. Be a good witness for the investigation.

• Wait for the claim to be approved.

• Send the insurance provider the RC book from your stolen car as soon as the claim has been authorised. The name of the insurer will thereafter be substituted for that of the owner.

• Send a letter of subrogation along with the car's duplicate keys. A stamped indemnity that has been notarized must also be provided to the insurer.

• The insurance provider will distribute the claim after all the processes are finished. Your car's insured declared value will serve as the claim amount.

• Plan Type: You must choose between a standalone Third Party Liability Insurance policy and a Comprehensive Car Insurance Policy. The legally required Third Party Liability Motor Insurance Policy covers injuries caused to third parties in an accident, but not to vehicles or property. Self-inflicted car damage is also covered by comprehensive car insurance.

• Extra features: Standard car insurance policies come with a number of riders or extra perks, some of which are quite useful. Examples include:

• Zero Depreciation cover: For higher-end cars, where the depreciation cost would be far larger than the additional premium required, this is practically a must-have rider.

• Hydrostatic Cover: this protects against damage caused by water logging.

• Cashless Facility at the Affiliated Garage: To avoid chasing down reimbursement and to make it easier to resolve cashless car insurance claims, ask your favourite garage which insurance provider they have a relationship with!

• Insured Declared Value or IDV: The insured declared value, which is provided in the event that the vehicle is stolen or a total loss, is the base amount that the insurer sets for the car's current market value for that particular year.

• Compulsory and Voluntary Deductibles: is the fundamentally necessary minimum that must be paid for each and every claim. The minimum assured amount you would need to spend to submit each and every claim, for instance, is Rs 1000 or Rs 2000. Usually, including deductibles lowers premiums, preventing or at least minimising bogus or petty claims.

• No Claim Bonus or NCB: is an addition to the plans' coverage that lasts a complete year without a claim. Therefore, a bonus of between 5 and 10% of the IDV is granted upon renewal if you have gone a full year without filing a claim under your auto insurance policy. Therefore, if NCB is to be carried forward and there were no claims in the previous year, it must be verified that it was calculated correctly at the time of renewal. The total amount of NCB that can accrue is 50%.

• Duly filled and signed claim form Registration certificate (Original to be presented for verification)

• Valid insurance policy

• Driving license copy (Original to be presented for verification)

• Purchase invoice and delivery challan (in case of new vehicle)

• Original copy of FIR in case of theft, third party damage, property damage

• In case of reimbursement, repair bills and payment receipts have to be submitted