Vehicle Insurance is essential for the owners of the motor vehicle, individual or corporate parties as well as the financiers who might have an insurable interest in the vehicle.

Vehicle Insurance - The insurance policy is essential for the owners of the motor vehicle, individual or corporate parties as well as the financiers who might have an insurable interest in the vehicle.

Risks covered

This insurance policy protects the motor vehicle from loss or damage
By fire, lightning, self-ignition, explosion, burglary, housebreaking or theft.
Riot or strike.
Flood, earthquake, cyclone or inundation.
Transit by road, air, elevators or lifts.
Liability for third party's injury or death, third party property and towards the paid driver too.
Loss or damage to electrical/ electronic accessories, personal accident cover for the driver and passengers is also available after paying additional premium.

Own damage

Actual amount for repairs/ replacement subject to depreciation and sum insured.
Garage and towing charges limited to Rs.1,000/-
Market value or sum insured, whichever is lower in case of a certifiable total loss.

Vehicle insurance from ICICI Lombard

ICICI Lombard brings to you a comprehensive Package Policy for your four-wheelers, which covers Third Party Liability (TPL) for bodily injury and/or death, Personal Accident cover for owner-driver and loss or damage to the vehicle insured (Own Damage or OD).

Lets have a look at the key features of car insurance from ICICI bank:-

A digitally signed policy is issued immediately through online facility.

You can pay through your ICICI Bank Credit Card and avail of Interest-Free equal monthly installments (EMI) for your premium.

You can claim towing charges up to Rs 1,500 through 24*7 call centers.

Cashless claim settlement at All India Cashless Garage List all across India.

No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.)

Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy to another company.

Voluntary Excess discount: A further discount on the premium is available if you opt for a Voluntary Excess in addition to the Compulsory Excess. (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim.)

Additional discounts: You can also avail of additional discounts if you are a member of a recognized Automobile Association in India.

ARAI devices: In case you have installed ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.

To know more visit www.icicilombard.com/app/NRIs/car

Act liability

Unlimited liability towards the death or bodily injury of the third party.
Liability towards non-fare paying passengers
Liability towards workmen as per the Workmen's Compensation Act.
Liability towards third party property damage limited to Rs.6,000/-
Costs and expenses incurred with express content.
Liability of the paid driver is also covered as long and if he observes all conditions as the insured owner/ financier himself.
In case of death of the insured/ any person entitled to indemnity for an incurred liability, his personal representative will receive indemnity as in the case of the insured, if he observes all the conditions as the insured himself.

Compensation offered

This insurance policy provides compensation to the insured party based on

Own damage

Actual amount for repairs/ replacement subject to depreciation and sum insured

Garage and towing charges limited to Rs.1,000/-

Market value or sum insured, whichever is lower in case of a certifiable total loss

Act liability

Unlimited liability towards the death or bodily injury of the third party

Liability towards non-fare paying passengers

Liability towards workmen as per the Workmen's Compensation Act

Liability towards third party property damage limited to Rs.6,000/-

Costs and expenses incurred with express content

Liability of the paid driver is also covered as long and if he observes all conditions as the insured owner/ financier himself
In case of death of the insured/ any person entitled to indemnity for an incurred liability, his personal representative will receive indemnity as in the case of the insured, if he observes all the conditions as the insured himself.

Motor vehicle insurance from HDFC CHUBB

HDFC Chubb offers two types of motor insurance. One is the

Liability only cover - It insures you against the legal liability in case of an accident and it does not cover the damage of the vehicle.

Package cover - It insures all the liabilites and also the damages caused to the vehicle.

The premium is calcualted

It's done according to the rules of the India Motor Tariff, based on the cubic capacity of your vehicle's engine, its age, place of registration and value. In case you want extended coverage - for Personal Accident, accessories, etc. - you may have to pay an additional premium. The premium is also subject to certain deductions including No Claim Bonus, Automobile Association and Anti-theft Device discounts. You will need to submit documents or particulars to avail of these discounts.

Documents for buying the insurance

All you need to submit is a signed proposal form - in certain cases, with some additional documents, if applicable. Once that is accepted by us, you just have to pay your premium in full, by cash or cheque.

No Claim Bonus

Quite simply, it's a discount in the Own Damage premium payable when renewing your policy after a claim-free year. Given with Package or Comprehensive Policies, it builds into a substantial discount over a 3-4 year period, and is an incentive for driving carefully and avoiding accidents.

For more details visit - www.hdfcchubb.com/faq_motorPolicy

Motor Vehicle Insurance from Bajaj Alliance

Motor vehicle is an invention which has made daily commuting easy. It is convenient and fast and saves our time. Though it is easy to own vehicle it is expensive maintaining a motor vehicle especially in case of damage caused to your vehicle due to some unavoidable circumstances or accidents. Bajaj Allianz's Motor Vehicle policy helps you in maintaining your vehicle in such situations.

Features

For claim free experience, discount available on subsequent renewal.
Discount available if voluntary excess opted for
Discount available for membership with approved automobile association
Discount available for installing approved anti-theft device
Depreciation, for the parts needing replacement in the accident is defined

Scope of Cover

Section 1 :

Undertakes to reimburse the expenses incurred for :

Repair / replacement of the parts of the vehicle

Payment for the market value of the vehicle in case of a total loss, provided that the originating cause of such damage is an accident, theft, earthquake, flood, riot, strike and malicious acts.

Section 2 :

Liability to third party including the liability under Motor Vehicles Act which is compulsory. It covers the legal liability of insured towards third party personal injury and property damage arising out of an accident involving the insured vehicle.

Please visit to know more - www.bajajallianz.com/BagicCorp/bajaj_home/products/asset/motor