There are two statistical facts which when considered in the light of the modern world seem especially crucial – about six percent of the total number of car accidents across the globe occurs in India and more than half of the commuters living in metropolitan cities of India are pre-disposed towards road rage. This shows that not only are car accidents rampant in India, it also indicates that Indian drivers are extremely stressed, making them prone to lash out on fellow commuters.
There is no easy answer to such problems, but the purchase of car insurance guarantees one fundamental aspect – lower stress, increased peace of mind as well as a higher level of preparedness on the road. These are the necessary ingredients for avoiding the rampant troubles of Indian roads, both physical as well as mental.
There are numerous types of mishaps that could render your beloved car useless for you – natural disasters, accidents, theft, and other unforeseen circumstances. Even though these are all especially frightening prospects, especially when you lose your loyal long distance as well as daily commute companion, the financial losses that you bear under such circumstances as a victim are even more of a burden.
Opting for a car insurance policy can protect you from these financial losses.
Fact File: Car insurance in India is compulsory for all car owners as per the Motor Vehicle Act of 1988. Due to the obligatory nature of car insurance, the best way forward is to choose a policy that best fits your budget and lifestyle.
Some of the core reasons behind purchasing a car insurance policy are as follows:
It is mandatory to have at least third-party car insurance on your vehicle while driving on Indian roads.
Driving your vehicle without insurance can result in anywhere between INR 2,000 (the fine for the first offence of driving without insurance policy) and/or up to 3 months of imprisonment. For second time offence, INR 4,000 in traffic fines and/or up to 3 months of imprisonment.
Car insurance coverage includes personal accident coverage of up to INR 15 lakh for death /specified injuries sustained by you during accidents.
Being a car insurance policyholder guarantees you access to a vast network of thousands of cashless garages for seamless post-damage servicing of your car.
As a reputed car insurance company, our policies not only provide coverage against most forms of damage to your car, they also come with more than 10 add-ons, such as zero depreciation cover.
There are several aspects of our car insurance policies that make them some of the best options in a highly populated and cluttered market.
Ever since the implementation of the Motor Vehicles Act in 1988, third party car insurance has been obligatory, without which penalties, fines and a whole other suit of problems could follow. However, in recent times, specifically in the year 2019, an amendment made to the Motor Vehicles Act has resulted in personal accident cover being mandatory for drivers on Indian roads.
This amendment was especially ushered in due to the fact that expenses on healthcare due to personal injuries during accidents are now reaching soaring heights. In such scenarios, mandatory personal accident cover helps in ensuring that coverage for not only your obligations towards others, but yourself as well.
There are two core policy changes pertaining to personal accident cover as an obligation:
The value of a car keeps going down with time, but with this add-on, you will get fully reimbursed without any deduction for depreciation on the value of parts being replaced.
If your windscreen glass accidentally breaks and needs to be repaired or replaced, we will reimburse this without your No Claim Bonus getting affected provided your claim is only for windscreen glass damage.
With this add-on, In case of theft or total damage of your car, you will get full reimbursement on the invoice amount (Ex showroom price only), road tax amount, registration charges and insurance cost. Just like your car value didn’t depreciate at all (Based on the option selected by you).
This cover provides reimbursement in the case of loss or damage to baggage placed in your car.
We will take care of you while your car is in the service shop. This add on gives you daily cash benefit to cover travelling expenses while your car is being repaired.
This add-on lets you make up to two Own Damage claims without affecting your No Claim Bonus.
If your car keys are lost or damaged we will cover the cost for repair/replacement of keys, including labour costs.
Normally, damage to tyres and tubes are covered in a standard policy only if the vehicle has met with an accident resulting in damage to the tyres and/or tubes. This add-on covers damage to the tyres and tubes without the vehicle meeting with an accident.
Driving in the rain is stressful indeed. This add on covers losses due to damage to engine, gear box, transmission or differential, and power steering pump internal parts caused by leakage of lubricating oil/coolant due to any accidental means or water logging while being driven.
This add-on helps you save 15%-35% on your premium, by voluntarily agreeing to pay a stipulated portion of every claim amount yourself, while we pay for the damages in excess to your Voluntary Deductible.
This cover is an extension of Personal Accident Cover with maximum up to 50 Lakhs Capital Sum Insured. It is offered in multiples of 1 Lakhs.
This add-on provides you 17 various roadside assistance to you and your car.
Personal Accident Cover for all passengers and paid driver up to a maximum of Rs. 50 lakhs per person
Legal Liability to your employees who might be driving or travelling in the car (other than paid driver)
Legal liability for your paid driver
Comprehensive cover for electrical/electronic/ non-electrical fittings
Cover for CNG Kit and Bi-Fuel System as mentioned in the Registration Copy (RC) book.
For more terms and conditions -Click here for add-ons wordings
When it comes to sifting through car insurance online and selecting the policy that suits you best, there is a four-fold process that you can follow to ensure the right choice:
Provide your details to the insurer so that you can obtain your instant car insurance quote for the policy that you have chosen. The basic information that you will be required to input at this stage includes your car number, car registration date, location, your mobile number and email Id. Then click on Get Best Price to get the quote.
Once you receive the car insurance price, you can select the policy cover type and then any add-ons that you would like to include.
You will add need to specify the payment mode that you prefer for the transaction, which can be Debit/Credit card, Net banking or Wallets. Upon completion of the payment, head to your email inbox and you will see that you have received the car insurance policy document from Royal Sundaram.
You will see a summary of the details you have given in the previous steps, and you’ll need to enter the engine number and chassis number. Click Proceed and enter the OTP sent to your number.
Whereas for other insurance companies you may require tax receipts, your personal bank details, completed claims form, currently valid driver's license, etc. So, if you want to save time while purchasing car insurance online, Royal Sundaram is your go-to option.
Make sure that you do not take car insurance renewal for granted, as there could be several repercussions of driving around with an expired policy.
Whenever you find yourself with an expired motor car insurance policy, hop onto the Royal Sundaram website and follow the steps given below for easy and seamless renewal:
In the event of a claim, inform Royal Sundaram immediately using any of the below options.
Our customer service executive will be happy to help you with the claims procedure. When intimating a claim, please have your policy details handy along with information regarding the incident.
Also visit our claims page to know more here -Royal Sundaram Car Insurance claims procedure
Driving on roads may be a pleasant experience, however, one has to consider the safety factor equally well. Even a skilled driver cannot avoid the risk factor while driving. A little bump or minor accident in such cases can result in huge loss. Thus, the only best way to remain prepared against such circumstances is to buy a car insurance. It's the smartest way to financially secure you and your car.
So, when you buy a vehicle, be it a bike or car, you must get it insured before you start driving it on the road. Remember, a car insurance policy is not a choice, it's a necessity and mandatory by the Motor Vehicles Act in India.
A few key benefits
Heres a list of things not covered under a car insurance policy:
So, it can be fairly said that an insurance policy is a must for every car owner. Besides, there are multiple policies available in the market these days. Royal Sundaram's comprehensive car insurance package lends safety to you as well as your car.
Car is your prized possession! Availing a comprehensive insurance policy is prudent, which not only covers your car, but also your family members or passengers in your car.
A Car Insurance Policy is mandatory under the Motor Vehicle Act. Every car owner must have an insurance which covers third party injury, death or property damage. With Car Insurance, you can cover-
Third party refers to people who are not your family members or property you don't own.
There are 2 types of Car Insurance.
1. Third Party Policy - This is a Liability Only Policy and covers all third party liabilities such as -
Personal Accident cover for Owner-Driver is also included in Third Party Insurance.
2. Package Policy - This covers Loss or Damage to the vehicle insured (Own Damage) in addition to the Third party cover. It is also known as comprehensive cover. You can cover your car against damage due to -
Covering your car with at least Third Party Insurance is mandatory, as per the Motor Vehicles Act.
The Private Car is the one that is used for social, domestic and pleasure purposes and also for business purposes excluding the carriage of goods other than samples by the insured or his employees.
Break-in-insurance is when the Policy lapses due to non-renewal of the Policy on time. As per the law, an owner should cover his/her car with at least third party insurance at all times. If you have a break in your car insurance, you can-
In every car, the metal, rubber, nylon and plastic parts are subject to deduction for depreciation. During a Claim, if there is any damage to these parts, it will not be fully covered. The coverage will be as per the percent of depreciation.
AGE OF PRIVATE CAR | % OF DEPRECIATION |
---|---|
Not exceeding 6 months | Nil |
Exceeding 6 months but not exceeding 1 year | 5% |
Exceeding 1 year but not exceeding 2 years | 10% |
Exceeding 2 years but not exceeding 3 years | 15% |
Exceeding 3 years but not exceeding 4 years | 25% |
Exceeding 4 years but not exceeding 5 years | 35% |
Exceeding 5 years but not exceeding 10 years | 40% |
Exceeding 10 years | 50% |
Accidents can occur at any time, any place, even if it is not your fault. But with Insurance you can recover from it financially. With comprehensive car insurance, the Insurer will protect you against any loss or damage to the Private Car and its accessories during following unforeseen events:
An endorsement is a document that incorporates amendments and additions in the existing terms of the policy. It is a written evidence of an agreed change to policy. If the policyholder needs to purchase more coverage, add riders or change the scope of the existing insurance policy, they can approach the insurance company to make the required changes by way of an endorsement.
An endorsement can be issued at the time of purchase, mid-term or during renewal period. It can be used to provide additional benefits and cover (e.g., legal liability to driver) or to impose restrictions (e.g., accidental damage deductible). Subsequently, any amendments regarding policyholders documents such as change of name, change of address, change of vehicle, etc. can also be implemented by way of an endorsement. The wordings of those endorsements are provided in the tariff.
The geographical zones are-
The discounts that can be allowed under the Private Car policies are:
Yes, the policy can be cancelled by the customer within 7 days notice to the Insurer and the company will cancel the policy on Short period basis and refund of premium if any, will be made. The refund will be subject to no claim under the policy and retention of minimum premium of Rs.100/-. But cancellation would be made only after ensuring that the vehicle is insured elsewhere at least for Liability Only policy.
Yes
A customer can withdraw the claim lodged by submitting a request in writing to the insurance company.
A change can be affected in policy by way of an endorsement to include additional benefits and cover.
No paperwork is required to buy your insurance policy online except for break in cases where VIR will be required and the policy would only be issued subject to a satisfactory inspection and submission of the required documents.
No paperwork is required to buy your insurance policy online except for break in cases where VIR will be required and the policy would only be issued subject to a satisfactory inspection and submission of the required documents.
Roadside assistance are services that assist insured when vehicle has suffered a mechanical failure due to accident / breakdown.
It can be opted in event of breakdown of the vehicle due to accident or mechanical failure.
For valid membership of recognized Automobile Associations a discount @ 5% of the Own Damage premium, subject to a maximum of Rs.200/- for a Private Car and maximum of Rs.50/- for a Motorized Two Wheeler may be allowed.
IDV stands for Insured Declared Value. It's the current market value of your car that can be calculated by depreciating the current manufacturer's listed selling price of the vehicle with depreciation percentage as per the Indian Motor Tariff. Manufacturer’s listed selling prices consists of local duties/taxes, which excludes insurance and registration. For those vehicles that are outdated or exceeding 5 years of age, IDV value will be the value accepted by both- the insurance company and insured. Besides, the value of obsolete vehicles and those exceeding 5 years of age is evaluated by our assessment team with the help of several resources such as second hand car dealers, IMAs, panel of Surveyors, etc.
The depreciation value of your vehicle is based on the following schedule
AGE OF PRIVATE CAR | % OF DEPRECIATION |
---|---|
Not exceeding 6 months | 5% |
Exceeding 6 Months but not exceeding 1 Year | 15% |
Exceeding 1 Year but not exceeding 2 Years | 20% |
Exceeding 2 years but not exceeding 3 years | 30% |
Exceeding 3 years but not exceeding 4 years | 40% |
Exceeding 4 years but not exceeding 5 years | 50% |
Electrical/electronic items which are not supplied by the vehicle manufacturer along with the vehicle are called electrical/electronic accessories. E.g., Music system, LCD mini TV, Fog lights, etc do not come along with the vehicle. Non-electrical fittings include CNG-kit, interior fittings, alloy wheels, etc.
No Claim Bonus is a reward for filing no claim in the previous year. It can be accumulated over a period of insurance. NCB starts with 20% and goes up to 50%
During a Claim, if you wish to bear part of the Claim amount, you can do so under Voluntary Deductible. By bearing a part of the Claim amount, you can earn discount of 15 % to 35% in the Premium of Own Damage or Policy.
The NCB Protector protects earned No claim Bonus, in the event of an Own Damage claim made for Partial Loss including claims for Windshield glass, Total Loss and theft of Vehicle/accessories.
The company undertakes to pay compensation for bodily injury / death sustained by the owner-driver of the vehicle upto Rs. 15 lakh, in direct connection with the vehicle insured. For nature of injury and scale of compensation, please refer to the policy wordings.
Please contact nearest branch office (details available in our website) for further details.
Electrical and Non Electrical accessories values are taken as per invoice copy submitted for such accessories and for each subsequent renewal value is depreciated as per depreciation chart applicable for insured vehicle.
The base Private Car policy covers many risks. There are a few other risks which are not covered and these risks are sought to be covered by way of add-on covers. The idea behind the add-on covers is to offer customized and value added services to specific segments of the society keeping in mind their requirements and need for complete protection against uncovered risks.
Car insurance is not a choice, it's a necessity. In fact, it's the safest way to protect yourself and your car from financial emergencies. Choosing the best car insurance as per your needs is not rocket science. However, you need to have a good knowledge of your insurance requirements. And as a customer, it is important for you to be informed about your car insurance policy and understand all the benefits that come under it.
Loss or damage to your car “ This covers loss or damage caused to the vehicle due to these following natural and man-made calamities
Exclusions
Third-party liability cover Third-party cover is compulsory for the vehicle under the Motor Vehicles Act, 1988. The insured person is first party, insurance company is second party, and the individual the policyholder has injured is the third party. This policy does not provide any benefit to the policyholder. Although, it covers policyholder's legal liability for the loss or damage caused to the third-party property or death/disability of third party.
Inclusions:
Exclusions:
Personal accident cover This covers the policyholder against accidental death or disability caused due to an accident. The insurance company pays a compensation of up to 15 Lakh for bodily injuries or death sustained by the driver or owner of the vehicle.
Several insurance companies offer car insurance plans in India for car owners. The above-mentioned coverage is provided by Royal Sundaram; it offers you a comprehensive coverage covering all the possible unfortunate events.
Yes, it will be covered, provided-
Being in a car accident is painful, regardless of the extent of damage. Seeing a scratch or dent on your beloved car will break your heart. Well, car insurance is here to help.
If you have an accident, you must ensure to inform the insurance company immediately. Your insurer will explain the claim process in detail and the requirements. They will also help in identifying a garage where your vehicle will be repaired on priority and added value services may be availed
Here's a brief step by step procedure on making an own damage claim under your motor insurance policy:
Before making a claim however, make a quick calculation on the potential No Claim Bonus you may lose on renewal. Sometimes, it may be more economical to not claim for very minor damages and protect your No Claim Bonus for your car insurance.
Being in a car accident is painful, regardless of the extent of damage. Seeing a scratch or dent on your beloved car will break your heart. Well, car insurance is here to help.
If you have an accident, you must ensure to inform the insurance company immediately. Your insurer will explain the claim process in detail and the requirements. They will also help in identifying a garage where your vehicle will be repaired on priority and added value services may be availed
Here's a brief step by step procedure on making an own damage claim under your motor insurance policy:
Before making a claim however, make a quick calculation on the potential No Claim Bonus you may lose on renewal. Sometimes, it may be more economical to not claim for very minor damages and protect your No Claim Bonus for your car insurance.
During a Claim, certain minimum amount is deducted from the Insured. The amount deductible is given below: