All You Need To Know About Maruti Insurance Policy

Posted on: Nov 8, 2023 | | Written by:

All You Need To Know About Maruti Insurance Policy

Published on November 07, 2023. EST READ TIME: 3 minutes

Maruti Suzuki is an automotive icon in India, cherished for its affordable and reliable cars. The brand has won the hearts of countless Indian consumers. Its most beloved models include the Maruti 800, Swift, Alto, Baleno, Vitara Brezza, Dzire, and Ertiga. Maruti's widespread service network and reputation for low maintenance costs have solidified it as a beloved and trusted brand in India. So, if you are planning to buy a new car and are looking for new car insurance you are at the right place.

Let's know about Maruti car insurance and its details.

Maruti car insurance and its importance

Car insurance is an indispensable part of car ownership, especially in India, where third party car insurance is mandated by law. While some may question its necessity, the answer is clear– yes, car insurance is essential. It serves both financial and emotional safety. If an accident occurs, it mitigates your liability, even if you're at fault.

Additionally, car insurance compensates for damages, which can be exorbitant without coverage. It also steps in when serious injuries result from accidents, alleviating financial and emotional burdens. Furthermore, insurance offers cover for your family in case of your untimely demise in a motor accident.

Benefits of buying Maruti car insurance

Acquiring a Maruti Suzuki car insurance policy offers a host of advantages, ensuring not only legal compliance but also financial security in various scenarios:

1. Stay on the right side of the law by having car insurance and avoiding legal issues in accidents

2. Cover third-party injury costs, sparing you financial stress

3. Comprehensive policies handle your car repair expenses, saving you from unexpected costs

4. Get a lump sum benefit for unforeseen contingencies

5. Tailor your policy to fit your car and specific needs

6. Save on premiums by driving safely

7. Include add-ons to enhance the coverage

8. Drive confidently with coverage for unexpected situations

9. HDFC ERGO Maruti car insurance policies offer the convenience of online policy renewal and access to customer support for queries and assistance.

Types of car insurance

There are two primary types of car insurance policies to choose from, each offering different levels of coverage:

1. Third-party liability-only policy:

Third party car insurance is mandated by the Motor Vehicles Act of 1988 and is essential for all Maruti Suzuki car owners. It provides coverage for financial liabilities incurred in specific situations, including:

◦ The policy will cover the associated financial liabilities if any individual is physically harmed due to your Maruti Suzuki car in an accident.

◦ In unfortunate cases where an individual dies in an accident involving your car, the policy extends coverage to address the financial responsibilities under the personal accident cover.

◦ If your car harms someone else's property, the third-party liability-only policy will help you cover the financial repercussions.

◦ Your own damages, however, will not be covered by third party car insurance.

2. Comprehensive car insurance policy:

Also referred to as a package policy, the comprehensive insurance option offers an all-encompassing coverage for your Maruti Suzuki car. This policy is ideal for those who seek extensive protection and includes the following contingencies:

◦ Similar to the third-party policy, it covers financial liabilities due to injuries, fatalities, or property damage caused by your car.

◦ Comprehensive policies extend coverage to damages sustained by your vehicle. Apart from accidental damages, this includes coverage for damage from earthquakes, floods, fire, theft, etc.

◦ If your car is transported by rail, air, road, or water and sustains damages, this policy covers such contingencies.

Features of Maruti car insurance

Here are some of the critical features of Maruti car insurance:

1. Cashless repairs:

When you invest in car insurance it allows cashless repairs at authorised service centres, also called network garages. This makes it convenient for policyholders to repair their vehicles without immediate out-of-pocket expenses.

2. Personal accident cover:

Maruti car insurance policies offer the owner/driver personal accident cover like accidental injuries or death of the policyholder.

3. Zero depreciation:

This optional add-on feature helps to reduce the impact of depreciation on the value of your car during a claim, ensuring that you receive a higher claim amount for repairs or replacement.

4. No claim bonus (NCB):

Policyholders can enjoy NCB benefits, which reduce the premium for each claim-free year, making insurance more cost-effective.

5. Hassle-free claims process:

Maruti car insurance policies aim to provide a straightforward and efficient claims process, minimising the hassle and stress during claim settlements.

Add-ons available under Maruti Suzuki car insurance plans

Maruti Insurance policy can provide these add-ons in the package.

1. Zero depreciation:

This add-on is a game-changer. Instead of getting the depreciated value of car parts in case of an accident, you claim the total replacement cost. You can include this when buying new car insurance or for cars up to 5 years old.

2. Engine protection:

Ideal for high-end car owners, and for people living in flood-prone areas, this cover takes care of engine repairs, even if they're not accident-related. When engine repair costs can soar, this add-on is worth every penny.

3. Return to invoice:

Secure the original invoice value, including registration and taxes, if your car's lost or stolen. Highly recommended for theft-prone areas or highway travellers. Available for vehicles up to three years old.

4. Roadside assistance:

With this add-on, you get 24/7 services like refuelling, towing, mechanic arrangement, and more for car breakdowns.

5. NCB protect add-on:

No Claim Bonus (NCB) is a fantastic discount on your renewal premium for each claim-free year. But one accident can wipe it out. This add-on safeguards your NCB so you won't lose the entire bonus even after a claim.

6. Personal accident cover for passengers:

Your safety isn't limited to just the driver. This add-on extends personal accident benefits to your passengers, ensuring that everyone in your car is protected in case of an unfortunate event.

How to lower your Maruti insurance policy premium?

Here are some practical ways to lower your Maruti insurance policy premium:

1. Choose a higher deductible:

Opt for a higher deductible, the amount you'll pay out of your pocket before the insurance coverage kicks in.

2. Safe driving Habits:

Keep a clean driving history by adhering to traffic regulations and preventing accidents. Many insurers offer discounts for safe drivers.

3. No claim bonus (NCB):

Accumulate and retain your No Claim Bonus by not making small claims. NCB can significantly reduce your premium during policy renewal.

4. Purchase multiyear car insurance:

Consider buying a multiyear car insurance policy. It locks in your premium for an extended period and often offers discounts compared to annual policies.

5. Opt for online insurance:

Many insurance providers offer lower premiums for policies purchased online. The digital process reduces administrative costs, which can translate into savings for policyholders.

6. Avoid car modifications:

Avoid extensive modifications to your car's appearance or performance, which can lead to higher premiums. Insurers might see them as added risks or increased repair costs.

7. Timely renewal:

Always renew your policy on time. Late renewals can result in higher premiums and could even lead to the cancellation of your policy.

Let's Conclude

Maruti Suzuki is much-loved in India and is known for its affordable and reliable cars. You must have Marui car insurance if you have bought a Maruti 800, Swift, or Ertiga. Such insurance is crucial in India, offering financial protection and emotional peace of mind. Consider investing in Maruti car insurance, as it ensures you're both legally compliant and financially secure!

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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