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Own Damage Coverage
Own Damage Coverage
Protection against damages to your car due to accidents, fire, theft, vandalism, or natural calamities.
Third-Party Liability Coverage
Third-Party Liability Coverage
Covers legal liabilities for bodily injuries or property damage caused to third parties in an accident involving your car
Personal Accident (PA) Cover
Personal Accident (PA) Cover
Compensation for injuries or death to the owner/driver of the insured car.
Roadside Assistance
Roadside Assistance
Assistance for breakdowns, towing, flat tire, battery jumpstart, and other emergency services.
Additional Add-ons OF Goods Carrying Vehicle Insurance
Additional Add-ons OF Goods Carrying Vehicle Insurance
Zero Depreciation Cover
Zero Depreciation Cover
Full reimbursement of repair/replacement costs without considering depreciation.
Roadside Assistance
Roadside Assistance
Assistance for breakdowns, towing, flat tire, battery jumpstart, and other emergency services.
IMT COVER
IMT COVER
In commercial vehicle insurance, the IMT cover includes protection for various aspects such as glass, headlights, tail lights, bumper, and seat paint.
Factors Determining the Premium of Coverages of Goods Carrying Vehicle Insurance
Factors Determining the Premium of Coverages of Goods Carrying Vehicle Insurance
Vehicles Make and Model
Vehicles Make and Model
The brand, model, and variant of the commemrical vehicles play a significant role in premium calculation. Expensive or high-end trucks may attract higher premiums.
Vehicle Age
Vehicle Age
Since this policy is designed for Truck , the age of the vehicle is a crucial factor in premium calculation.
Insured Declared Value (IDV)
Insured Declared Value (IDV)
The IDV represents the commerical vehicle current market value and is a major factor in premium calculation. Higher IDV results in a higher premium.
RTO Number / State
RTO Number / State
The location where the commercial Vehicles is registered (RTO number or state) affects the premium. Metropolitan cities or certain states may have higher premiums due to increased risks.
Gross Weight Of the Vehicle
Gross Weight Of the Vehicle
The Gross Vehicle Weight Rating (GVWR) is the maximum safe weight of your vehicle, including its curb weight, passengers, fuel, accessories, cargo, and trailer tongue weight.
Fuel Type (CNG / Petrol / Electric)
Fuel Type (CNG / Petrol / Electric)
The type of fuel used in the new affects the premium. The diesel-powered vehicles potentially having different premium rates compared CNG vehicles
Usage of the Vehicle
Usage of the Vehicle
Vehicle used for personal purposes or business purposes may have different premium rates.
Previous Claims History
Previous Claims History
A history of past claims may affect the premium amount.
Policy Add-on
Policy Add-on
The choice of add-ons, like zero depreciation cover e.t.c will impact the total premium cost.
Voluntary Deductibles
Voluntary Deductibles
Opting for a higher voluntary deductible amount can reduce the premium.
How to Settle Goods Carrying Vehicle Insurance Policy Claims?
How to Settle Goods Carrying Vehicle Insurance Policy Claims?
- claim due to an accident -
- claim due to an accident -
Inform the Insurer
Inform the Insurer
Notify your insurance company about the accident and damages as soon as possible. Provide all necessary details, such as the policy number, date and time of the incident, location, and a brief description of the accident.
File an FIR (If applicable)
File an FIR (If applicable)
If there is significant damage or third-party involvement, file a First Information Report (FIR) at the nearest police station. This is especially important for theft or major accidents.
Survey and Assessment
Survey and Assessment
The insurance company will appoint a surveyor to assess the extent of damage to your vehicle. Cooperate with the surveyor and provide all relevant documents and evidence related to the accident.
Submit Required Documents
Submit Required Documents
Submit the duly filled claim form along with the required documents, such as a copy of the vehicle’s registration certificate (RC), a valid driving license, the FIR (if applicable), and any other documents requested by the insurer.
Repairs and Inspection
Repairs and Inspection
After the assessment, the insurer may arrange for an inspection of the damaged vehicle or direct you to an authorized garage for repairs. Some insurers may offer cashless facilities at network garages.
Claim Settlement
Claim Settlement
Once the repairs are completed, submit the bills and invoices to the insurance company for reimbursement or settlement as per the policy terms.
Claim Amount
Claim Amount
The claim amount will depend on the extent of damage and the terms of your insurance policy, including the deductible and policy coverage.
Excess Payment
Excess Payment
Pay the applicable excess or deductible amount as per the policy terms. The insurer will cover the remaining claim amount.
Necessary Documentation
Necessary Documentation
Keep copies of all documents related to the claim, including the settlement letter and payment receipt, for future reference.
How to Settle Goods Carrying Vehicle Insurance Policy Claims?
How to Settle Goods Carrying Vehicle Insurance Policy Claims?
- In case of theft of the vehicle -
- In case of theft of the vehicle -
File a Police Report
File a Police Report
Immediately report the theft to the nearest police station and obtain a First Information Report (FIR) or a Non-Cognizable Report (NCR) as required by the insurer.
Inform the Insurance Company
Inform the Insurance Company
Contact your insurance company’s customer support or claims helpline as soon as possible and provide them with all the necessary details about the theft incident.
Submit Required Documents
Submit Required Documents
The insurance company will request specific documents, such as the FIR/NCR copy, original policy documents, vehicle registration certificate (RC), claim form, and any other documents as required.
The insurance company will request specific documents, such as the FIR/NCR copy, original policy documents, vehicle registration certificate (RC), claim form, and any other documents as required.
Cooperate with Investigation
Cooperate with Investigation
The insurer may conduct an investigation to verify the theft incident. Cooperate fully and provide any additional information or documents they may require.
Claim Survey
Claim Survey
An authorized surveyor appointed by the insurance company will assess the loss and damages to determine the claim amount
Transfer Vehicle Ownership
Transfer Vehicle Ownership
In case the stolen vehicle is not recovered, transfer the ownership of the vehicle to the insurance company as per their requirements.
In case the stolen vehicle is not recovered, transfer the ownership of the vehicle to the insurance company as per their requirements.
Claim Settlement
Claim Settlement
Once the surveyor’s report is received, and all necessary documentation is in place, the insurance company will process the claim settlement.
Claim Payout
Claim Payout
f the claim is accepted, the insurance company will provide the claim payout amount as per the terms and conditions of the policy.
f the claim is accepted, the insurance company will provide the claim payout amount as per the terms and conditions of the policy.
Exclusions of Goods Carrying Vehicle Insurance
Exclusions of Goods Carrying Vehicle Insurance
Consequential Loss
Consequential Loss
Insurance may not cover losses that result as a consequence of a covered event, such as financial losses due to missed business opportunities.
Driving Under Influence
Driving Under Influence
Accidents caused while driving under the influence of alcohol or drugs may be excluded from coverage.
Unauthorized Drivers
Unauthorized Drivers
If an accident occurs while someone other than the authorized driver is driving the insured Two Wheeler , it may not be covered.
Racing or Adventure Activities
Racing or Adventure Activities
Damages occurring during racing, rallies, or adventure sports are typically excluded.
Intentional Damage
Intentional Damage
Any damages caused intentionally by the insured or any other person will be excluded from coverage under the Goods vehiclerying Vehicle Insurance policy.
Wear and Tear
Wear and Tear
Regular wear and tear of the vehicle or mechanical breakdowns are not covered.
Illegal Activities
Illegal Activities
Accidents caused while using the Two Wheeler for illegal purposes may be excluded.
War or Terrorism
War or Terrorism
Damages due to war, war-like situations, or acts of terrorism are generally excluded.
Nuclear Damage
Nuclear Damage
Any damages caused by nuclear activity are not covered.
Expired or Lapsed Policy
Expired or Lapsed Policy
If the policy is expired or lapsed at the time of the incident, there will be no coverage.
Documents Required for Claim Settlement under Goods Carrying Vehicle Insurance
Documents Required for Claim Settlement under Goods Carrying Vehicle Insurance
- IN CASE OF THEFT CLAIM -
- IN CASE OF THEFT CLAIM -
First Information Report (FIR)
First Information Report (FIR)
A copy of the FIR lodged with the police station reporting the theft of the vehicle.
A copy of the FIR lodged with the police station reporting the theft of the vehicle.
KYC Documents
KYC Documents
Valid Know Your Customer (KYC) documents of the insured, such as Aadhar card, Passport, Voter ID, etc., for identification purposes.
Insured's PAN Card
Insured's PAN Card
A copy of the insured’s Permanent Account Number (PAN) card to verify tax-related information.
Insured's GST Certificate
Insured's GST Certificate
If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.
Accident Claim Form
Accident Claim Form
A duly filled and signed claim form providing details of the accident, the extent of damages, and injuries (if any).
Insured's GST Certificate
Insured's GST Certificate
If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.
Policy Document
Policy Document
The original insurance policy document showing the coverage details.
Vehicle Registration Certificate (RC)
Vehicle Registration Certificate (RC)
A copy of the vehicle’s RC to establish ownership and vehicle details.
Driving License
Driving License
A valid driving license of the insured to verify the authority to drive the vehicle.
Valid Permit Copy
Valid Permit Copy
Legal authorization for vehicle operation within defined limits.
Previous Insurance Records
Previous Insurance Records
f applicable, documents related to any previous insurance claims or policies.
No Trace Report
No Trace Report
If the vehicle is not recovered, a No Trace Report from the police stating that the stolen vehicle could not be located.
NOC from Financier
NOC from Financier
In case of a financed vehicle, a No Objection Certificate (NOC) from the financing institution.
Letter of Subrogation
Letter of Subrogation
If the claim is paid to the policyholder, the insured needs to provide a letter of subrogation allowing the insurance company to take legal action against the guilty party.
Valid Fitness Certificate
Valid Fitness Certificate
Certification of vehicle’s compliance with safety standards.
Documents Required "for Claim Settlement under Goods Carrying Vehicle Insurance"
Documents Required "for Claim Settlement under Goods Carrying Vehicle Insurance"
- ACCIDENTAL CLAIM -
- ACCIDENTAL CLAIM -
Accident Claim Form
Accident Claim Form
A duly filled and signed claim form providing details of the accident, the extent of damages, and injuries (if any).
KYC Documents
KYC Documents
Valid Know Your Customer (KYC) documents of the insured, such as Aadhar card, Passport, Voter ID, etc., for identification purposes.
Insured's PAN Card
Insured's PAN Card
A copy of the insured’s Permanent Account Number (PAN) card to verify tax-related information.
Insured's GST Certificate
Insured's GST Certificate
If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.
If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.
Copy of the Insurance Policy
Copy of the Insurance Policy
A copy of the valid and active insurance policy for the vehicle.
FIR/NCR Copy(if applicable)
FIR/NCR Copy(if applicable)
A copy of the First Information Report (FIR) or Non-Cognizable Report (NCR) filed with the police in case of an accident.
A copy of the First Information Report (FIR) or Non-Cognizable Report (NCR) filed with the police in case of an accident.
Driving License
Driving License
A copy of the valid driving license of the driver involved in the accident.
Vehicle Registration Certificate (RC)
Vehicle Registration Certificate (RC)
A copy of the vehicle’s RC, which includes details such as the registration number, engine number, chassis number, etc.
A copy of the vehicle’s RC, which includes details such as the registration number, engine number, chassis number, etc.
Estimate of Repairs
Estimate of Repairs
An estimate of the repair costs from an authorized garage or workshop.
Photographs(if available)
Photographs(if available)
Clear photographs of the accident scene, damages to the vehicle, and the location.
Witness Statements
Witness Statements
Statements from any witnesses present at the time of the accident (if available).
Medical Records (if applicable)
Medical Records (if applicable)
Medical documents, bills, and reports in case of injuries to the insured or any third party
Police Investigation Report (if applicable)
Police Investigation Report (if applicable)
In case of a serious accident, a police investigation report may be required.
Valid Permit Copy
Valid Permit Copy
Legal authorization for vehicle operation within defined limits.
Legal authorization for vehicle operation within defined limits.
Valid Fitness Certificate
Valid Fitness Certificate
Certification of vehicle’s compliance with safety standards.
Certification of vehicle’s compliance with safety standards.
Spot Surveyor
Spot Surveyor
It refers to an on-the-spot assessment conducted by a surveyor to evaluate the extent of damage
Contact Information for Claim Settlement: related to Goods Carrying Vehicle Insuranc
Contact Information for Claim Settlement: related to Goods Carrying Vehicle Insuranc
If Policy Obtained through Agent/Broker
If Policy Obtained through Agent/Broker
Contact your agent or broker first, as they will guide you through the claims process and assist in reporting the claim.
If Policy Obtained Directly from Insurance Company
If Policy Obtained Directly from Insurance Company
Contact the insurance company’s claims department directly to report the claim and follow their instructions for a smooth claims settlement.
If you have taken from onestepcloudsolutions.in, please use the following contact details to register your claim.
What is commercial vehicle insurance?
Commercial vehicle insurance provides coverage for vehicles used for business purposes, such as trucks, vans, and buses.
What types of vehicles are covered under commercial vehicle insurance?
Commercial vehicle insurance covers a range of vehicles, including delivery trucks, passenger vehicles, construction vehicles, and more.
Why do I need commercial vehicle insurance?
Commercial vehicles face unique risks and liabilities, and commercial vehicle insurance provides financial protection in case of accidents, damages, or injuries.
What does commercial vehicle insurance typically cover?
Third-Party Liability Insurance covers damages or injuries caused to a third party by your car. It is a mandatory component of car insurance in India.
Is commercial vehicle insurance mandatory?
Yes, most states require commercial vehicles to carry insurance coverage that meets minimum liability requirements.
Can I use my personal auto insurance for my business vehicle?
No, personal auto insurance typically does not cover vehicles used for business purposes. You need separate commercial vehicle insurance.
How is the premium for commercial vehicle insurance determined?
Premiums are calculated based on factors like vehicle type, usage, location, driver records, and coverage limits.
What is liability coverage in commercial vehicle insurance?
Liability coverage pays for bodily injury and property damage caused by your commercial vehicle to others.
Do I need additional coverage for my cargo or goods?
Yes, cargo insurance provides coverage for goods carried by your commercial vehicle, protecting against damage or loss during transportation.
Can I insure multiple commercial vehicles under one policy?
Yes, you can often insure multiple vehicles under a single commercial vehicle insurance policy.
What is fleet insurance for commercial vehicles?
Fleet insurance covers multiple vehicles under a single policy, often offering cost savings and streamlined administration.
Are there specific insurance requirements for different types of commercial vehicles?
Yes, different types of vehicles, such as trucks, buses, or taxis, may require specialized insurance coverage.
Can I customize my commercial vehicle insurance policy?
Yes, commercial vehicle insurance policies can be tailored to your specific business needs, adding optional coverages as necessary.
What is "non-owned auto" coverage in commercial vehicle insurance?
Non-owned auto coverage protects your business when employees use their personal vehicles for company purposes.
Are there discounts available for commercial vehicle insurance?
Yes, insurance providers may offer discounts for factors like safe driving records, safety features, or bundling policies.
What is hired and non-owned auto insurance coverage?
This coverage extends protection when your business rents or hires vehicles, such as rental cars or borrowed vehicles.
Can I get roadside assistance coverage for my commercial vehicle?
Yes, many commercial vehicle insurance policies offer optional roadside assistance coverage for breakdowns.
Is commercial vehicle insurance tax-deductible?
In many cases, commercial vehicle insurance premiums can be tax-deductible as a business expense. Consult a tax professional for details.
How can I save money on commercial vehicle insurance?
You can save money by maintaining a good driving record, bundling insurance policies, selecting appropriate coverage limits, and comparing quotes.
Do I need commercial vehicle insurance for a ride-sharing business?
Yes, if you’re using your vehicle for ride-sharing or delivery services, personal auto insurance may not provide adequate coverage. You’ll likely need commercial coverage.
How to become a commercial truck insurance agent?
Becoming a commercial truck insurance agent typically involves obtaining the necessary licenses, certifications, and training. You can start by researching your state’s requirements, completing relevant courses, and gaining experience in the insurance industry.
What is commercial truck insurance?
Commercial truck insurance is a type of insurance coverage designed to protect businesses that own or operate trucks. It provides financial protection against various risks, including accidents, damages, and liabilities associated with commercial truck operations.
What state has the cheapest commercial truck insurance in 2021?
The cost of commercial truck insurance varies by state and various factors. Rates can change annually, so it’s recommended to get quotes from multiple insurers to find the best rates for your location.
Who has the best commercial truck insurance?
The “best” commercial truck insurance company can vary depending on individual needs and preferences. It’s advisable to research and compare different insurance providers to find the one that offers the coverage and pricing that suits your business.
How much does commercial truck insurance cost?
The cost of commercial truck insurance varies widely based on factors such as the type of truck, its usage, location, driver history, and coverage limits. Obtaining quotes from multiple insurers can help you estimate the cost for your specific situation.
How much is commercial insurance for a box truck?
The cost of commercial insurance for a box truck depends on several factors, including the truck’s value, usage, location, and coverage needs. Requesting quotes from insurance providers will give you an accurate estimate.
How to get cheap commercial truck insurance?
To get cost-effective commercial truck insurance, consider improving driver safety records, maintaining good credit, bundling policies, and shopping around for competitive quotes.
How much is commercial truck insurance in Texas?
The cost of commercial truck insurance in Texas depends on factors like the type of truck, its usage, and location. It’s advisable to request quotes from insurance companies to get accurate pricing.
How to sell commercial truck insurance?
To sell commercial truck insurance, you typically need to become a licensed insurance agent, learn about commercial insurance products, build relationships with clients, and effectively communicate the benefits of your coverage offerings.
What is loss of use for commercial truck insurance?
Loss of use coverage in commercial truck insurance helps cover expenses when your truck is out of commission due to a covered event. It can provide compensation for rental costs or lost income during the repair period.
What is Private Car New Vehicle Insurance?
Private Car New Vehicle Insurance is a comprehensive insurance policy that provides coverage for new cars against various risks, including accidents, theft, natural calamities, and third-party liabilities.
Why is it essential to get New Vehicle Insurance?
New Vehicle Insurance provides financial protection to the owner against unforeseen expenses arising from accidents or damages to the new car. It ensures peace of mind and compliance with legal requirements.
What does Private Car New Vehicle Insurance cover?
It covers Own Damage (OD) and Third-Party Liabilities. OD covers damages to the insured vehicle, while Third-Party covers liabilities for bodily injury or property damage caused to third parties.
Is Third-Party Liability Insurance mandatory for new cars?
Yes, as per the Motor Vehicles Act, Third-Party Liability Insurance is mandatory for all vehicles, including new cars, to provide coverage for liabilities to third parties.
What is No Claim Bonus (NCB)?
NCB is a discount offered on the premium for every claim-free year. It can significantly reduce the premium over time for not making any claims.
Can NCB be transferred to the new car from the old car?
Yes, NCB can be transferred to the new car if the policyholder sells the old car and purchases a new one within a specific time frame.
What are Add-ons in New Vehicle Insurance?
Add-ons are optional coverage extensions that policyholders can choose to enhance their insurance coverage. Examples include Zero Depreciation, Roadside Assistance, Engine Protect, etc.
Can I choose the tenure of New Vehicle Insurance?
Typically, OD coverage is available for one year, while Third-Party coverage can be purchased for three years for new cars.
Is engine damage due to water ingression covered under New Vehicle Insurance?
Yes, with appropriate add-on coverage, engine damage due to water ingression can be covered under the insurance policy.
How is the premium determined for New Vehicle Insurance?
The premium is calculated based on factors like the Insured Declared Value (IDV) of the car, vehicle make and model, age of the car, add-ons chosen, and the location of registration (RTO number/state).
Can I transfer my New Vehicle Insurance to another person?
Yes, the insurance policy can be transferred to another person if the ownership of the car is transferred. The new owner needs to apply for a policy transfer.
What should I do in case of an accident?
In case of an accident, immediately inform the insurance company and the police, if necessary. Follow the claim process as per the insurer’s guidelines and provide all required documents for claim settlement.
How to check four-wheeler insurance status?
To check the status of your four-wheeler insurance, you can simply call the customer care number of the insurance company from which you have taken the policy. If they provide you with the details related to the policy number and confirm its validity, it means your policy is 100% correct and active.
How to calculate insurance premium for a four-wheeler?
The insurance premium for a four-wheeler is calculated based on factors like the vehicle’s Insured Declared Value (IDV), age, make, model, location, and add-ons chosen. Insurance providers provide online calculators to estimate the premium.
What is IDV in four-wheeler insurance?
IDV stands for Insured Declared Value, which is the current market value of the vehicle. It is the maximum amount the insurance company will pay in case of theft or total loss of the vehicle.
How much is four-wheeler insurance?
The cost of four-wheeler insurance depends on various factors like the type of coverage, vehicle details, add-ons selected, and the insurer’s pricing. It can vary for each individual based on their specific requirements.
How to change the name in four-wheeler insurance?
To change the name in four-wheeler insurance, submit a request to the insurance company along with the required documents, such as proof of name change, ID proof, and policy details.
How to claim insurance for a four-wheeler?
In case of an accident or damage, inform the insurance company immediately and file a claim. Provide all necessary documents and follow the claim process as per the insurer’s guidelines.
How to change third-party insurance to comprehensive for a four-wheeler?
You can upgrade your existing third-party insurance to a comprehensive policy by contacting your insurance provider. Pay the additional premium and get the necessary endorsement.
Insurance when buying a new four-wheeler?
When buying a new four-wheeler, it is essential to have at least Third-Party Liability Insurance as mandated by law. Comprehensive insurance, which includes OD and TP cover, is recommended for complete protection.
Which insurance is compulsory for a four-wheeler?
Third-Party Liability Insurance is compulsory for all four-wheelers as per the Motor Vehicles Act. It covers liabilities for third-party injury or property damage caused by the insured vehicle.
What is Four Wheeler Insurance
Four Wheeler Insurance provides financial protection to your vehicle against various risks, including accidents, theft, natural calamities, and third-party liabilities.
How can I buy Four Wheeler Insurance online?
You can purchase Four Wheeler Insurance online through various insurance providers’ websites or online marketplaces like Policy bazaar.
Is it mandatory to have Third-Party Insurance for four-wheelers?
Yes, as per the Motor Vehicles Act, it is mandatory to have Third-Party Insurance for all four-wheelers to cover liabilities for bodily injury or property damage caused to third parties.
What factors determine the premium for Four Wheeler Insurance?
The premium is determined based on factors like the Insured Declared Value (IDV) of the vehicle, vehicle make and model, age of the car, type of fuel used, and geographical zone (RTO number/state).
Can I renew my Four Wheeler Insurance online?
Yes, you can easily renew your Four Wheeler Insurance online through the insurer’s website or other online platforms.
Which is the best Four Wheeler Insurance company in India?
The best Four Wheeler Insurance company can vary based on individual requirements. It is recommended to compare policies from different insurers to find the most suitable one.
What is Zero Depreciation or Nil Depreciation Cover?
Zero Depreciation Cover ensures full claim settlement without factoring in the depreciation of car parts during repairs.
What is Comprehensive Four Wheeler Insurance?
Comprehensive Four Wheeler Insurance provides coverage for both Own Damage (OD) and Third-Party Liabilities, offering more extensive protection.
How to check the status of my Four Wheeler Insurance?
You can check the status of your Four Wheeler Insurance policy online through the insurer’s website using your policy number or other required details.
Can I transfer my Four Wheeler Insurance to another vehicle?
Yes, you can transfer your Four Wheeler Insurance to another vehicle when you sell your existing car and buy a new one.
What are the different add-ons available for Four Wheeler Insurance?
Some common add-ons include Engine Protect, Tyre Cover, Roadside Assistance, Consumables Cover, etc., which offer additional protection.
What should I do in case of an accident?
In case of an accident, immediately inform the insurance company, file an FIR with the police, if necessary, and follow the claim process as per the insurer’s guidelines. Provide all required documents for claim settlement.
What is OD Only - Private Car Insurance?
OD Only – Private Car Insurance is a type of car insurance that provides coverage for damages to your own vehicle (Own Damage or OD) caused by accidents, theft, natural disasters, and other perils, but it does not include coverage for third-party liabilities.
Why do I need OD Only Insurance?
OD Only Insurance is essential to protect your car against various risks and potential financial losses, ensuring you have financial assistance for repairs or replacements in case of accidents or damages to your car.
What does OD Only Insurance cover?
OD Only Insurance covers damages to your own vehicle caused by accidents, fire, theft, natural disasters, vandalism, and other specified perils as mentioned in the policy.
Is OD Only Insurance mandatory?
No, OD Only Insurance is not mandatory by law, but it is highly recommended to ensure comprehensive protection for your car.
Can I add Third Party Insurance to OD Only Policy?
Yes, you can add Third Party Insurance as an add-on cover to your OD Only Policy to extend coverage for third-party liabilities.
Does OD Only Insurance cover injuries to the driver or passengers?
No, OD Only Insurance does not cover injuries to the driver or passengers. Personal Accident Cover can be purchased separately to provide coverage for injuries.
Can I get OD Only Insurance online?
Yes, many insurance companies offer the option to purchase OD Only Insurance online for a convenient and hassle-free experience.
Is depreciation covered under OD Only Insurance?
Depreciation is usually deducted while settling the claim amount under OD Only Insurance for the repair or replacement of damaged parts.
Can I transfer my OD Only Policy to a new car?
Yes, you can transfer your OD Only Policy to a new car by informing the insurance company and completing the necessary documentation.
How can I renew my OD Only Insurance policy?
You can easily renew your OD Only Insurance policy online through the insurer’s website or mobile app, or you can contact your insurance agent for assistance.
What does OD mean in car insurance?
OD stands for Own Damage in car insurance, which refers to the coverage provided for damages to your own vehicle caused by accidents, theft, fire, natural disasters, vandalism, and other specified perils.
Is OD insurance mandatory for a car?
No, OD insurance is not mandatory by law; however, it is highly recommended to ensure comprehensive coverage and financial protection for your vehicle.
Can I buy OD insurance without third-party insurance?
Yes, you can buy OD insurance without third-party insurance. OD Only – Private Car Insurance offers coverage for damages to your vehicle without including third-party liabilities.
Can I make OD insurance claims for minor damages?
Yes, you can make OD insurance claims for minor damages to your vehicle, such as scratches, dents, or broken parts, subject to the terms and conditions of your policy.
What factors affect the OD insurance premium?
The OD insurance premium is determined by various factors, including the make and model of the car, age of the vehicle, geographical location, previous claims history, and add-on covers selected.
Can I transfer my OD insurance policy to a new owner?
No, OD insurance is typically non-transferable. When a car is sold to a new owner, the insurance policy needs to be canceled, and the new owner should purchase a fresh insurance policy.
Does OD insurance cover engine damage?
Yes, OD insurance may cover engine damage if it is caused by an accident, fire, or any other specified perils as mentioned in the policy.
Is depreciation applicable to OD insurance claims?
Yes, depreciation is usually applicable to OD insurance claims for the repair or replacement of damaged parts, and the claim amount is adjusted accordingly.
Can I add additional riders to my OD insurance policy?
Yes, you can add additional riders or add-on covers to enhance the coverage of your OD insurance policy, such as Zero Depreciation Cover, Engine Protection, and Roadside Assistance.
Can I renew OD insurance online?
Yes, most insurance companies offer online renewal facilities for OD insurance, making it convenient for policyholders to renew their coverage without any hassle.
Which insurance is compulsory for a four-wheeler
Third-Party Liability Insurance is compulsory for all four-wheelers as per the Motor Vehicles Act. It covers liabilities for third-party injury or property damage caused by the insured vehicle.
What is Four Wheeler Insurance?
Four Wheeler Insurance provides financial protection to your vehicle against various risks, including accidents, theft, natural calamities, and third-party liabilities.
How can I buy Four Wheeler Insurance online?
You can purchase Four Wheeler Insurance online through various insurance providers’ websites or online marketplaces like Policy bazaar.
Is it mandatory to have Third-Party Insurance for four-wheelers?
Yes, as per the Motor Vehicles Act, it is mandatory to have Third-Party Insurance for all four-wheelers to cover liabilities for bodily injury or property damage caused to third parties.
What factors determine the premium for Four Wheeler Insurance?
The premium is determined based on factors like the Insured Declared Value (IDV) of the vehicle, vehicle make and model, age of the car, type of fuel used, and geographical zone (RTO number/state).
Can I renew my Four Wheeler Insurance online?
Yes, you can easily renew your Four Wheeler Insurance online through the insurer’s website or other online platforms.
Which is the best Four Wheeler Insurance company in India?
The best Four Wheeler Insurance company can vary based on individual requirements. It is recommended to compare policies from different insurers to find the most suitable one.
What is Zero Depreciation or Nil Depreciation Cover?
Zero Depreciation Cover ensures full claim settlement without factoring in the depreciation of car parts during repairs. Depreciation or Nil Depreciation Cover?
What is Comprehensive Four Wheeler Insurance?
Comprehensive Four Wheeler Insurance provides coverage for both Own Damage (OD) and Third-Party Liabilities, offering more extensive protection.
How to check the status of my Four Wheeler Insurance?
You can check the status of your Four Wheeler Insurance policy online through the insurer’s website using your policy number or other required details.
Can I transfer my Four Wheeler Insurance to another vehicle?
Yes, you can transfer your Four Wheeler Insurance to another vehicle when you sell your existing car and buy a new one.
What are the different add-ons available for Four Wheeler Insurance?
Some common add-ons include Engine Protect, Tyre Cover, Roadside Assistance, Consumables Cover, etc., which offer additional protection.
What should I do in case of an accident?
In case of an accident, immediately inform the insurance company, file an FIR with the police, if necessary, and follow the claim process as per the insurer’s guidelines. Provide all required documents for claim settlement.
What are add-on coverages in Private Car Insurance?
Add-on coverages are optional enhancements that can be added to your car insurance policy for additional protection and benefits beyond the standard coverage.
What is Zero Depreciation cover, and how does it benefit me?
Zero Depreciation cover ensures that you receive the full claim amount for replacing parts of your car without considering depreciation. It is especially helpful for newer cars as it saves you from bearing depreciation costs during claims.
Does Engine Protection cover provide coverage for hydrostatic lock?
Yes, Engine Protection cover provides coverage for damages caused to the engine due to a hydrostatic lock, which occurs when the engine is damaged by ingesting water.
Is Roadside Assistance cover beneficial, and what does it include?
Roadside Assistance cover provides emergency services like towing, flat tire replacement, battery jumpstart, and more in case of breakdowns or accidents, making it highly beneficial in times of distress.
Can I get coverage for consumables like engine oil and coolant?
Yes, some car insurance add-ons provide coverage for consumables like engine oil and coolant, ensuring a comprehensive claim settlement.
What is the benefit of NCB Protection cover?
NCB Protection cover helps you retain your No Claim Bonus (NCB) even after making a claim. It ensures that your hard-earned NCB discount is not affected due to a single claim during the policy period.
Is Personal Belongings cover included in standard car insurance?
No, Personal Belongings cover is usually not included in standard car insurance. However, you can opt for this add-on to receive coverage for your personal belongings kept inside the insured car.
Does the Key Replacement cover provide coverage for lost car keys?
Yes, Key Replacement cover offers coverage for the cost of replacing lost or stolen car keys, including key fob and locksmith charges.
Can I avail of the Invoice Protection cover for my old car?
Invoice Protection cover is typically available for new cars up to a certain age (usually up to 2 or 3 years). However, check with your insurance provider for any specific eligibility criteria.
Does the Consumable Expenses cover include coverage for airbags and other safety equipment?
No, Consumable Expenses cover is primarily for consumables like nuts, bolts, washers, and similar items. It does not cover expensive safety equipment like airbags.
Can I purchase add-on covers during the policy term or only at the time of policy purchase?
You can usually purchase add-on covers both at the time of policy purchase and during the policy term, provided your car insurance policy is active.
Are the add-on coverages available for third-party car insurance policies?
No, add-on coverages are typically available only for comprehensive car insurance policies, as third-party policies offer limited coverage as mandated by law.
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