Pay as You Drive - Kilometer Benefit Car Insurance Add-on Cover

It is simple to renew your car insurance online. All you have to do is visit the website of the insurer, make a self-survey of your car, and upload the required documents. Once the documents are approved, a payment link would be sent. After the payment is done, your policy will be renewed.

If you want to make any changes to your existing policy, it can be done through an endorsement. The modifications/changes are not made in the original policy but in the Endorsement certificate. These might include change in ownership, coverage, vehicle, etc. Endorsements are of 2 types - premium-bearing endorsement and non-premium bearing endorsement.

In premium-bearing endorsement, you have to pay an additional premium. For example, transfer of ownership, addition of LPG/ CNG kit, change of RTO location, etc. On the other hand, if you opt for non-premium bearing endorsement, no additional premium is charged. For example, change in contact details, correction in engine/ chassis number, addition of hypothecation, etc.

If you have witnessed a significant rise in the insurance premium during renewal, it might be because of loading. Simply put, it is the amount that is added to a policy to cover for losses which were higher than what the insurer was anticipating. This comes into the picture if the policyholder is prone to a certain type of risk or opts for claims quite often. Loading protects insurance companies against high-risk individuals.

Yes. The reward for not claiming during the policy period can be easily transferred from one insurer to another if the policyholder decides to buy insurance from another insurer. Similarly, if the car owner changes his vehicle, NCB can be transferred to the new car. To transfer the NCB, you must request the insurance company to issue you an NCB certificate. This certificate denotes the amount of NCB you are eligible for and becomes proof of NCB transfer.

Road Side Assistance Cover provides you with the necessary help at the time when your vehicle is stuck in middle of road due to bike breakdown. This usually includes towing, changing flat tyre and jump start and many other things. Make sure you read policy wordings to understand the terms and conditions of this cover.

Yes, electric car owners are required covering their priced possession with a valid car insurance.

No, Comprehensive car insurance is not mandatory but third party car insurance is mandatory. It will be always advisable to choose comprehensive over third party as you can get a 360 degree protection to your car.

No, you cannot opt for any add on covers with third party car insurance. But you can opt for several add on if you purchase comprehensive car insurance.

Except for tyres and tubes, Zero depreciation provides coverage to every part of your car.

No Claim bonus is the reward your insurance company will give you for not filing a claim in the previous policy period. It is applicable only from the second policy year, and the discount on premiums ranges from 20%-50%.

Zero depreciation is an add-on cover available with comprehensive car insurance policies. With the help of this cover, you will get the full claim amount. In zero depreciation car insurance cover, the insurer will not consider the depreciation on various parts of the car during the final claim settlement. Therefore, this cover helps to enhance the claim amount of the policyholder.

This add-on cover retains your No Claim Bonus even after you have raised a claim for damage caused to your parked vehicle due to external impact or any calamity such as flood, fire etc. This cover not only protects your NCB earned so far, but also takes it to the next NCB slab. It can be claimed for a maximum of 3 times during the policy per.

Nil Depreciation, also known as Zero Depreciation Cover, will help the policyholder get complete coverage without depreciation. It is an add on cover that can be opted for while buying comprehensive car insurance online. Click here to read more on Nil Depreciation .

No, it will not be covered, because the information on your insurance policy must match the details of the car when making a claim. When you switch to LPG or CNG, the fuel type of your car changes, and hence, your claim request can get rejected. Therefore, you must inform the insurer about this change at the earliest.

Yes, you can get the coverage. For that, you would have to inform the insurance company about the addition of the accessories to your car. The insurance company would charge an additional premium to cover the accessories on a pro-rated basis. Pay the premium and you can get coverage for the accessories from the middle of the term.

Zero Depreciation Cover is an add-on cover that provides complete coverage to your car without considering the depreciation value. In the event of any damage, the entire claim amount will be paid by the insurer. However, the insured will have to pay a standard deductible amount while raising the claim under zero dep car insurance cover. Also, the policyholder can raise the claim only twice a year.

The Insured Declared Value (IDV) is the maximum amount of sum assured fixed by the insurance company, according to the present market value of the vehicle. Sometimes, the overall repair cost exceeds 75% of the vehicle’s IDV,and then, the insured car is treated as a Constructive Total Loss claim.

Roadside assistance is an add-on cover that comes to your rescue when you are stranded on the road in case of a mechanical breakdown. This has to be purchased by paying additional premium. One can avail 24*7 road side assistance for breakdown, tyre replacement, towing, fuel replacement etc. by contacting the customer care.

Unless you have a Zero Depreciation cover, the insurer pays for the repair or replacement of car parts at a depreciated value. The value of the car and its partsbecomes lower as the years go by. This ‘deduction for depreciation’ decides how much the policyholder pays from his/her pocket.

If your car insurance expires you will have to face the following:  

• Financial loss in case of accidents-Accidents can happen anytime and anywhere which may amount to a huge sum as your car insurance has expired. To repair the damages, you will have to break your savings and pay for it as your car insurance has already expired.

● Loss of Insurance Protection–Car Insurance policy provides you wide coverages, which can protect you in case of any car related emergency. If you allow your insurance policy to expire, you risk losing the benefits of the insurance cover and you might have to pay from your own pocket for the repairs before buying a new car insurance policy.

● Driving with Expired Insurance is Illegal - Driving without valid car insurance is a criminal offence in India under the Motor Vehicles Act and can attract a penalty of up to Rs. 2000 or imprisonment for up to 3 months. Now, that’s unwanted trouble you are inviting upon you.

Following are the ways in which you can check the status of your car insurance policy renewal online:

Option 1: Insurance Information Bureau

One way to check the status of your insurance policy online is through the website of IIB (Insurance Information Bureau). The steps to do this are as follows:

• STEP 1: Visit the IIB website.
• STEP 2: Enter the details of your vehicle.
• STEP 3: Click the “SUBMIT” button.
• STEP 4: View the policy details.
• STEP 5: If you are unable to view any information, try to search by the vehicle engine number or the vehicle chassis number.

Option 2: VAHAN E-services

The alternative to IIB when checking the status of your car insurance policy is to check through VAHAN e-services. Here are the steps to do so:

• STEP 1: Visit the VAHAN e-services web page.
• STEP 2: Click on “Know Your Vehicle”.
• STEP 3: Enter the vehicle registration number, as well as the verification code.
• STEP 4: Click on the “Search Vehicle” button.
• STEP 5: View the insurance expiry date and other vehicle details.

Following are the benefits of Car insurance renewal

Third party liabilities

If your car is involved in an accident that results in damage or loss to the property of any third parties, it is covered under the car insurance. Furthermore, if you face any legal liabilities in case of any bodily injury or death of a third party, your car insurance protects you against the same.

No claim bonus

One of the major advantages of having car insurance is the no claim bonus (NCB). Customer is eligible for this benefit for every claim-free year. This may be available as a discount on the premium, which makes car insurance even more affordable.

Damage or loss to insured vehicle

In case your vehicle is damaged due to an accident, fire, or self ignition, you are protected. Furthermore, if the car suffers losses due to burglary or theft, strikes, riots, or terrorism, your insurance policy covers these. Another benefit of car insurance is that it covers loss or damage while in transit by rail, inland waterways, air, road, or lift.

Personal accident cover

Another advantage of car insurance is that it offers personal accident cover for a pre-determined amount. Personal Accident cover provides protection against permanent total disability, Death due to an accident. Furthermore, this cover can be taken for other passengers on unnamed basis (maximum as per the vehicle’s seating capacity) for a pre-determined amount under the car insurance policy.

All you need to do is follow these easy steps:

1. Visit Our Website–Visit HDFC ERGO car insurance page https://hdfcergo.com/car-insurance.

2. Select Appropriate Category–

a. If you are an existing customer, please enter your policy number to continue,
b. If you are a new customer, please enter your car details and follow the steps to buy a new policy.

3. Verify Your Details - Enter your name, email ID, mobile number, vehicle details, and city.

4. Select Expiry Details -Click on the appropriate time frame for your expired car insurance.

5. View Quote - You will get the best quote for your car insurance.

When policyholders don’t make any claims during the policy period, they are rewarded with a No Claim Bonus (NCB). Now, this discount can range from 20% to 50%, depending on your track record of not making a claim. Therefore, if you let go of minor damages, you can avail a decent discount in the form of NCB and thereby save on premiums during car insurance renewal.

There are times when drivers wish to cancel a claim, mostly because they don’t want to pay the deductible. So, insurance providers allow you to cancel a claim after you file it, and to do so, you just need to contact a representative.

Usually, if you suffer a claim during the policy term, it is admissible. However, the insurer might reject the claim if you delay making a claim and your policy expires. Therefore, it is wise to inform the insurer immediately in the case of a claim. When you do so, the claim gets registered during the policy tenure. Then, you can get the settlement even after the policy expires.

There is no limit to the number of claims that one can register during the policy period. However, the policyholder can claim until the consolidated claim amount reaches up to the Insured Declared Value (IDV) of the car. Also, claims have an impact on your premium at the time of renewal.

A voluntary deductible is a part of the claim that the insured person has to pay from their pocket before raising the claim with the insurance provider. It is an excellent way to reduce your policy premium. For example, say your car is damaged, and the total claim amount is Rs. 10,000. If, you have agreed to pay Rs. 2,000 from your side as a voluntary deductible, the insurer will pay the balance of Rs. 8,000. However, remember that there is also a compulsory deductible portion in your car insurance policy. This is the amount you must pay compulsorily in each instance of a claim, irrespective of whether you are paying a voluntary deductible or not.