The premium may be lesser of one insurer but may have higher deductibles, lower coverage, and lower IDV, which will adversely impact the insured in the event of claim settlement.

This offers complete coverage of the vehicle without factoring in depreciation. It means, that if your car gets damaged following a collision, you will receive the entire cost from the insurer without deduction of depreciation. It covers all-fiber, metal, and plastic parts. There are other add-on covers that can be clubbed together like engine cover, tire cover, return to invoice, RSA, personal belongings, etc.

It is a discount available in the renewal premium offered by insurance companies if a vehicle owner has not made a claim during the last term of the car insurance policy.

Covers the owner of the vehicle against any legal liability arising out of any property damage or bodily injury to third parties. The limit for third-party property damage cover is restricted up to a maximum of Rs.7.5 lakh, whereas there is no limit restriction on third-party bodily injuries.

It is the first amount to be borne by the insured for each and every claim reported. The insurance company has decided that you will pay at the time of a claim settlement. For sub-1500 cc vehicles, it is Rs 1500 and for vehicles above 1500CC it is Rs. 2000.

It covers engine damage due to water ingression or oil leakage.

It is the maximum amount to be paid by an insurer at the time of claim settlement. It is the sum insured and is fixed at the commencement of each policy period.

No.

Total loss means accidental damage to the vehicle where the insurance company’s share is more than 75% of the IDV.

While generally, it is three times, it could vary from company to company.

• Normal wear and tear

• Not having a valid driving license during an accident

• Driving under the influence of intoxicating liquor/ drugs

• Accidents taking place beyond geographical limits

• If the vehicle is being used for unlawful purposes

• Electrical/ mechanical Breakdowns

This covers the cost of replacement when a key is lost or stolen.

The car owner is paid a fixed daily allowance for a certain number of days if the car has been taken to the workshop.

Insurance companies offer a discount on the premium for installing anti-theft devices approved by the Automobile Research Institute of India (ARAI). These devices enhance security and reduce the chances of making a claim, hence adding the benefit of the discount.

Yes, but an inspection of the vehicle is required. However, No Claim Bonus (NCB) can be protected till the expiry of 90 days from the date of expiry.

• Expiring policy
• Information on claims if any during last year
• RC copy

• If there is a gap in renewal;
• Switching from third party cover to a comprehensive cover;
• There is a requirement to cover additional equipment or accessories fitted in the car, like anti-theft devices, CNG kit, etc. which are not in the expiring policy;
• Opting for certain specified add on covers

Legally anyone driving a car must hold a valid driving license. In this scenario, it is the owner's responsibility to ensure that his vehicle is being driven by someone with a valid driving license and that the driver is not under the influence of alcohol or drugs.

According to the Supreme Court order, IRDA has mandated all general insurance companies to offer multi-year third-party insurance to all motor vehicles sold after 1st September 2018. Therefore, instead of single third-party liability plans, insurance companies will offer 3-year third-party liability plans for cars and 5-year third-party liability plans for two-wheelers.

You will have to inform the insurer about this, as the cost of the premium will differ based on the fuel type of your car.