There are two types of car insurance - comprehensive and third party. Comprehensive insurance covers risk arising out of theft or damage to the vehicle, death of the driver and/or passengers in the vehicle, and damage caused by the vehicle to other people or property. Third-party insurance covers only damage caused by the vehicle to other people or property. These policies are valid for a year. Your car insurance company should notify you by mail when it's time to renew the policy.

 

• Motor Insurance FAQs on Cost, Premiums, Bonus, Discounts, Renewals

Know about motor insurance, its costs, premiums, bonuses, discounts and more.

• What if I forget to renew my auto insurance on time?

If a vehicle's auto insurance policy is not renewed, driving that vehicle is illegal. Also, if the vehicle has an accident, the insurance company will not pay out claims. All No Claims Bonuses will also be forfeited.

• Can I renew my auto insurance with another insurance company?

You can renew your auto insurance with another insurer, including the bonus accrued at your earlier insurer.

• What are the risks covered by the Third Party policy?

The risks covered by the Third Party policy include death or injury to a third party and damage to third party property. Liability in the case of death or injury is unlimited.

• What are the risks covered by the Comprehensive policy?

The Comprehensive auto insurance policy provides cover for damage caused to the vehicle due to man-made or natural calamities.

• Are there extensions that can be added to the Comprehensive policy?

Extensions can be purchased on Comprehensive motor insurance policies for loss or damage to accessories, passenger accident cover, and legal liability to employees and non-fare paying passengers.

• Motor Insurance Coverage FAQs

Read on to know more about the costs covered by your motor insurance and get answers to many more such questions that you may have.

• How long should I cover my vehicle?

Vehicles need be insured at all times by law. Motor insurance policies are for a period of 12 months.

• What happens if a vehicle flees after injuring a third party and its license plate number was not legible?

Such hit and run accidents mean that no liability for insurance companies. The victim can be compensated by the Solatium Fund established by the Government.

• What if my vehicle has an additional CNG/LPG kit?

An additional CNG/LPG kit fitted in a vehicle needs to be insured separately. Read to find out more.

• Does the motor insurance policy automatically cover all my high-cost accessories such as music system, extra fittings, etc?

Accessories are not essential to the performance of the vehicle. Coverage for these accessories can be added separately in the insurance policy. This coverage is added over and above the IDV of the vehicle.

• What motor insurance covers vs. What it excludes

Motor insurance covers natural and man made calamities, such as lightning, floods, and so on, third party legal liability, and personal accidents. It doesn't cover normal wear and tear, depreciation etc,