Protect your vehicle and drive with confidence
With the right motor insurance, you’re covered against accidents, damage, and unexpected costs.
Answer a few quick questions, and we’ll guide you to the best plan for your needs.
What is Motor Insurance?
Motor insurance is a vital protection plan for vehicle owners that covers financial risks related to owning and operating a vehicle. It primarily includes mandatory third-party liability coverage, which protects against claims for injury, death, or property damage caused to others. Beyond this legal requirement, comprehensive motor insurance offers broader protection by covering damages to your own vehicle from accidents, theft, natural disasters, and other unforeseen events. Additional coverages, such as personal accident protection and various optional add-ons, can be tailored to meet individual needs. Motor insurance ensures financial security and peace of mind on the road, making it an essential investment for all drivers.
Explore Motor Insurance Options
Why Should You Buy Motor Insurance?
Legal Requirement and Financial Compliance
Motor insurance, specifically third-party insurance, is mandatory by law in many countries. It ensures that you comply with legal requirements while driving your vehicle on public roads. Driving without valid insurance can lead to penalties, fines, or even vehicle impoundment. Having motor insurance helps you stay lawful and avoid legal hassles while protecting yourself financially from liabilities.
Protection Against Third-Party Liabilities
Motor insurance covers damages caused to third parties, whether it's bodily injury, death, or property damage resulting from an accident involving your vehicle. Without insurance, you would be personally responsible for covering these costs, which can be financially devastating. Insurance protects your assets by covering the compensation claims from third parties, giving you peace of mind while driving.
Coverage for Own Vehicle Damages and Theft
Comprehensive motor insurance protects not only against third-party claims but also covers damages to your own vehicle due to accidents, theft, natural disasters, or vandalism. This ensures that repair costs, or replacement expenses, do not come out of your pocket. It helps you restore your vehicle quickly without significant financial burden, keeping you mobile and minimizing inconvenience.
Additional Benefits Through Add-Ons and Bonuses
Motor insurance policies offer various add-ons like zero depreciation cover, roadside assistance, engine protection, and personal accident cover that enhance the protection of your vehicle and yourself. Additionally, you can earn a No Claim Bonus (NCB) by not making claims, which lowers your premium during renewals. These benefits make motor insurance not just a necessity but a valuable investment for long-term savings and security.
Motor Insurance Claim Process
• Inform the insurer immediately after an accident, theft, or damage to your vehicle.
• Submit required documents such as the filled claim form, vehicle RC, driving license, insurance policy copy, and repair estimates. For theft, submit FIR and non-traceable certificate; for cashless claims, submit the repair invoice.
• Damage assessment is done by a surveyor appointed by the insurer.
• Claim settlement is processed as either:
1. Cashless: Insurer pays the network garage directly after repairs.
2. Reimbursement: Policyholder pays for repairs at a non-network garage and gets reimbursed by the insurer.
• IRDAI rules mandate speedy and transparent claim processing, with insurers required to provide clear reasons for any claim rejection and adhere to standard timelines for settlement.
Frequently Asked Questions {FAQ'S}
Is motor insurance mandatory?
Yes, as per the Motor Vehicles Act, 1988, at least third-party motor insurance is mandatory for all vehicles in India, including old, electric, or CNG/LPG vehicles.
What is the duration of a motor insurance policy?
Usually, the tenure is 1 year for both third-party and comprehensive policies, but long-term options of 3 to 5 years are available for certain vehicles.
Can I transfer my insurance if I sell my vehicle?
Yes, insurance can be transferred to the new owner within a stipulated period (usually 14 days) after submitting an application and required documents.
What is No Claim Bonus (NCB)?
An NCB is a discount given on renewals for every claim-free policy year. It remains valid if the policy is continually renewed on time or transferred to a new insurer.
What is zero depreciation motor insurance?
Zero Depreciation (Zero Dep) cover offers full claim payouts without factoring in the depreciation of car parts (except for certain exclusions like tyres, batteries, etc.).
Are there any add-on covers?
Yes, popular add-ons include roadside assistance, engine protection, personal accident cover for passengers, zero depreciation, and return to invoice cover.
