Please ensure that your vehicle in ‘INSURED’

Written by Parichay Malvankar

You might have heard this many times, from friends or family at random discussions, that they have been driving their vehicle without a valid insurance copy, and are not sure if they should renew it or not. Let us remind you, that driving your vehicle without a valid insurance is a punishable offense.

If your vehicle, car or bike, didn’t make any claim in the previous year,, you are actually going to have to pay a lesser premium at premium thanks to the ‘No Claim Bonus’ feature. Also, if you’re ever caught in a situation such as an accident, an insurance policy would take care of any damages, if occurred.

An active insurance policy will get accidental loss or damages covered for your own car as well as to a third party. The premium for your car insurance or bike insurance depends on the make of your vehicle and the value of your vehicle as well.

Third party vehicle insurance is the one which covers damages to the third person involved in an accident with you and your car / bike. Other than this, the insured does not have any specific benefits. In a comprehensive insurance policy, all damages and losses are covered for both parties, the insurer and the third party, subject to policy terms and conditions

You cannot always guarantee safe driving from a third person when driving your car or bike out on the streets. Hence, it is always advised to have a valid comprehensive insurance policy to take care of any damages. Insurance policies also have many features which come in handy such as cashless claim settlement, roadside assistance, depreciation cover, no claim bonus, towing services, etc.

If your vehicle insurance has expired, or you want to check the premium for your vehicle insurance which is soon to lapse, click here.

Buying / renewing your car or bike insurance is now very easy and convenient. You can do it from anywhere using your smartphone. You just need to fill in basic details such as your vehicle registration number and select the appropriate policy. All other data is fetched automatically by the registration number provided and you can get a quote instantly. There is almost no paperwork involved now to avail such services and the renewal process takes just a few minutes, unless your previous policy had expired.

As per the Motor Vehicles Act in India, it is mandatory to drive a vehicle with at least third party insurance. However, for better coverage in case of an accident, the comprehensive policy is what we recommend.

Two-wheeler insurance is now available on 2 year and 3 year long term packages as well. This means you will have to renew only once in every 3 years.

Inclusions in an insurance policy:

  • Accident, burglary, theft
  • Riots
  • Fire or lightning
  • Natural calamities
  • Transit damage by road, rail, waterway, air or lift
  • Death benefits to owner / driver / rider
  • Death benefits to the person hit by insurer
  • Damage to property in case of accident

Exclusions in an insurance policy:

  • Normal wear and tear
  • Depreciation of vehicle value
  • Electrical / mechanical problems
  • Damage to vehicle outside country
  • Damage when driving under influence of alcohol
  • No valid driving license
  • Nuclear attack
  • If personal vehicle is used for commercial purpose