Car Insurance

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

• Protection for loss or damage caused to your car
• Indemnity for third-party property damage up to a certain limit of Rs. 7.5 Lakhs
• It provides personal accident cover to you, your paid driver as well as the occupants in the car.
• It offers unlimited liability cover for third party injury claims/third party death.

• It covers your vehicle against accidents, theft, disasters such as fire, earthquake, floods, etc.
• Damage caused to somebody else vehicle or property
• Paid driver, employees or any unknown passenger
• It covers your family members (including you) with personal accident policy
• Injury or death of another individual due to an accident caused by you

Heres a list of things not covered under a car insurance policy:

• This excludes mechanical/electrical breakdown
• Damage caused by an individual under the influence of drugs or alcohol
• Damage caused by a person who is driving the car without a valid license
• Normal wear and tear, depreciation or any other consequential loss
• Loss or damage due to nuclear risk or war
• Wear and tear of consumables such as tyres and tubes

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-

• Car against theft, accidents, disasters such as floods, earthquake, fire, etc.
• Family members (including self) with Personal Accident Policy
• Paid driver, employees or any unnamed passenger
• Damage to someone else's car or property
• Injury/Death of another person due to accident caused by you

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 -

• Bodily injury or death of third party
• Property Damage of third party

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 -

• Road accidents
• Theft
• Fire accidents
• Natural disasters such as flood inundation, lightning, cyclone, etc
• Riot or strike

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-

• Approach another insurance company to renew policy-if it has been less than 90 days since the Policy lapsed. In this case, you may be able to retain your No Claim Bonus.
• Obtain a new Insurance Policy-if it has been more than 90 days since the Policy lapsed
• In either case, you have to get your car re-inspected

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:

• Fire, explosion, self ignition or lightning
• Burglary, housebreaking or theft
• Riot or strike
• Earthquake (fire and shock damage)
• Flood typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
• Accidental external means
• Malicious act
• Terrorist activity
• Whilst in transit by road, rail, inland- waterway, lift, elevator or air
• Land slide, rock slide

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.

• Insured's Declared Value (IDV)
• Cubic Capacity of the vehicle
• Geographical Zones
• Age of the vehicle

The geographical zones are-

• Zone A - Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune
• Zone B - Rest of India

The discounts that can be allowed under the Private Car policies are:

• Voluntary Deductible discount
• No Claim Bonus
• Automobile Association Discount
• Discount on Vintage Cars

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.

• No paperwork is required to buy your insurance policy online
• Instant policy issuance
• Multiple payment options via Credit Card, Debit Card or Net Banking
• Highest levels of security.

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.

Private Car and Two wheelers