The first and foremost reason to have car insurance is because it is mandatory by law to have motor insurance for every vehicle plying on road. Car insurance provides coverage against loss or damage to your vehicle due to accident, theft, fire, explosion, self ignition, lightening, riots and natural calamities.
If you own a two-wheeler, either bike, scooty or scooter, it is mandatory by law to have two-wheelers insurance. It provides protection against financial liability arising out of incidences such as theft, damage or third party damage or death caused by your vehicle.
No-Claim Bonus (NCB) is cumulative in nature. It increases every year. It ranges from 0-50%.
It is the amount that you agree to pay from your own pocket before the insurer pays the rest claim.
If your vehicle is fitted with anti theft devices, insurer will offer you additional discount.
This is offered as a part of a motor insurance policy which could be very useful if your vehicle needs to be repaired on the move. Insurers provide certain services 24/7 such as refueling, toeing, flat tyre change, mechanic services, etc.
If there is an accident or your car is stolen and car needs to be replaced, this rider ensures that the entire value of your car is paid by your insurer. You can claim your (IDV), along with the registration amount that was paid at the time of purchase.
Depreciation is deducted from the assessed loss in claim process. It ensures that full value of spare parts is paid during the settlement and no depreciation is deducted. Entire expense is incurred by insurer when car gets damaged on collision.
The No-claims bonus protector add-on cover ensures that your no-claim bonus remains unchanged, irrespective of whether you have applied for claim benefit or not. It protects your no claim bonus for any undesirable situation