Own Damage Coverage
Own Damage Coverage
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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.
Zero Depreciation Cover
Zero Depreciation Cover
Full reimbursement of repair/replacement costs without considering depreciation.
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 OD only - Two Wheeler Insurance?
OD only – Two Wheeler Insurance provides coverage for damages to your insured vehicle against accidents, theft, fire, and natural disasters. It does not include Third-Party Liability coverage.
Is OD only insurance mandatory for two-wheelers?
No, OD only insurance is not mandatory by law. However, it is recommended for those who want to protect their own vehicle from damages and losses.
Can I add additional covers to OD only insurance?
Yes, some insurance providers may offer add-on covers like Personal Accident cover for the owner/driver to enhance the coverage.
Will OD only insurance cover damages to my vehicle caused by someone else?
No, OD only insurance covers damages caused to your vehicle by accidents, theft, fire, or natural disasters. Damages caused by others will not be covered under this policy.
Can I buy OD only insurance online?
Yes, you can purchase OD only insurance online through various insurance providers’ websites or through insurance comparison portals.
Is OD only insurance suitable for a new vehicle?
OD only insurance can be a good option for new vehicles if you want to protect your vehicle from damages without including Third-Party Liability coverage.
Can I switch from OD only insurance to a comprehensive policy later?
Yes, you can switch from OD only insurance to a comprehensive policy by renewing your insurance with additional Third-Party Liability coverage.
What is the claim process for OD only insurance?
In case of any damages to your insured vehicle, you can file a claim with your insurance provider, and they will guide you through the claim settlement process.
Does OD only insurance cover theft of my two-wheeler?
Yes, OD only insurance covers theft of your insured two-wheeler, and you can claim for the damages incurred.
Can I cancel my OD only insurance policy mid-term?
Yes, you can cancel your OD only insurance policy mid-term, but it is recommended to check with your insurance provider for any applicable charges or refunds.
What are add-ons in Two Wheeler Insurance, and how do they enhance the coverage?
Add-ons in Two Wheeler Insurance are optional coverages that you can include to enhance your policy’s protection. Examples of add-ons include Personal Accident cover for pillion riders, Zero Depreciation cover, and Engine Protection cover.
Is it necessary to purchase add-ons with Two Wheeler Insurance?
No, add-ons are not mandatory, but they provide additional benefits and comprehensive coverage. It’s essential to assess your needs and choose add-ons that suit your requirements.
Can I add multiple add-ons to my Two Wheeler Insurance policy?
Yes, you can choose multiple add-ons based on your preferences and needs. However, adding too many add-ons may increase the premium, so consider your budget while selecting them.
What precautions should I take before buying Two Wheeler Insurance with add-ons?
Before buying Two Wheeler Insurance with add-ons, consider the following:
a) Evaluate the add-ons’ relevance and whether they address your specific needs.
b) Check the premium increase with each add-on and ensure it fits your budget.
c) Review the terms and conditions of each add-on for better understanding.
d) Compare different insurance providers to find the best coverage at a reasonable price.
Can I add or remove add-ons during the policy period?
Usually, you can add or remove add-ons at the time of policy renewal. However, some insurance providers may allow changes mid-term, subject to their terms and conditions.
How to check two-wheeler insurance?
– You can check your two-wheeler insurance status online through the insurer’s website or mobile app. Alternatively, you can contact the customer service team or visit the nearest branch office.
How to renew insurance for a two-wheeler?
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app. Enter your policy details, select the coverage, and make the payment.
How to renew two-wheeler insurance?
– To renew your two-wheeler insurance, log in to the insurer’s website, enter your policy details, review the coverage, and complete the renewal process by making the payment.
How to renew two-wheeler insurance online?
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
How to pay two-wheeler insurance online?
– You can pay for your two-wheeler insurance online through the insurer’s website or mobile app using various payment options like net banking, credit/debit cards, or mobile wallets.
How to check two-wheeler insurance status?
– You can check the status of your two-wheeler insurance online by logging into your account on the insurer’s website or app. You can also contact the customer service for assistance.
How to claim two-wheeler insurance?
– In case of an accident or damage to your two-wheeler, inform the insurer immediately, and submit the required documents for the claim process. The insurer will assess the claim and provide the necessary assistance.
How to check my two-wheeler insurance status?
– You can check your two-wheeler insurance status by logging into your account on the insurer’s website or app. The policy details and status will be displayed on your dashboard.
What is comprehensive insurance for a two-wheeler?
– Comprehensive insurance provides coverage for own-damage to your two-wheeler and third-party liabilities arising from accidents. It also offers protection against theft, natural disasters, and other unforeseen events.
What is comprehensive insurance for two-wheeler?
– Comprehensive insurance provides coverage for own-damage to your two-wheeler and third-party liabilities arising from accidents. It also offers protection against theft, natural disasters, and other unforeseen events.
How to renew insurance of a two-wheeler online?
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
What is third-party insurance for a two-wheeler?
– Third-party insurance for a two-wheeler provides coverage for liabilities towards third parties for injury, death, or property damage caused by your vehicle.
What is NCB in two-wheeler insurance?
– NCB stands for No Claim Bonus, which is a discount given on the premium for each claim-free year. It rewards policyholders for not making any claims during the policy term.
What is IDV in two-wheeler insurance?
– IDV stands for Insured Declared Value, which is the maximum amount payable by the insurer in case of theft or total loss of the insured two-wheeler. It is the current market value of the vehicle.
How to buy two-wheeler insurance online?
– You can buy two-wheeler insurance online by visiting the insurer’s website or app, entering your vehicle and personal details, selecting the coverage, and making the payment.
How to download two-wheeler insurance policy?
– You can download your two-wheeler insurance policy from the insurer’s website or app after purchasing or renewing the policy. It will be available in a PDF format.
How to renew expired two-wheeler insurance online?
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
How to get two-wheeler insurance online?
– You can get two-wheeler insurance online by visiting the insurer’s website or app, filling in your vehicle and personal details, selecting the coverage, and making the payment.
How to check two-wheeler insurance validity?
– You can check the validity of your two-wheeler insurance by looking at the policy document or checking the status online on the insurer’s website or app.
How to download two-wheeler insurance copy?
– You can download a copy of your two-wheeler insurance policy from the insurer’s website or app after purchasing or renewing the policy.
What is comprehensive two-wheeler insurance?
– Comprehensive two-wheeler insurance provides coverage for own-damage to your vehicle and third-party liabilities arising from accidents. It also offers protection against theft, natural disasters, and other unforeseen events.
How to get two-wheeler insurance copy online?
– You can get a copy of your two-wheeler insurance policy online by visiting the insurer’s website or app and downloading the policy document in a PDF format.
Which two-wheeler insurance is best?
– The best two-wheeler insurance policy varies based on individual needs and preferences. It’s essential to compare different policies, coverage, and customer reviews to choose the one that suits you best.
How to find the two-wheeler insurance policy number?
– You can find the two-wheeler insurance policy number on the policy document issued by the insurer. It is a unique alphanumeric code mentioned on the top of the document.
Which insurance is mandatory for a two-wheeler in India?
– As per the Motor Vehicles Act, third-party insurance is mandatory for all two-wheelers in India to cover liabilities towards third parties.
How to find my two-wheeler insurance policy number?
– You can find your two-wheeler insurance policy number on the policy document or the premium payment receipt issued by the insurer.
What is a No Claim Bonus in two-wheeler insurance?
– No Claim Bonus (NCB) is a discount given on the premium for each claim-free year. It rewards policyholders for not making any claims during the policy term.
How to renew insurance for a two-wheeler online?
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
How to renew two-wheeler insurance after expiry online?
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
How to check the two-wheeler insurance expiry date?
– You can check the expiry date of your two-wheeler insurance on the policy document or by contacting your insurance provider.
How to check insurance of a two-wheeler?
– You can check the insurance status of your two-wheeler by verifying the policy document or checking online on the insurer’s website or app.
How to change the name in the two-wheeler insurance policy?
– To change the name in the two-wheeler insurance policy, you need to contact your insurance provider and submit the required documents for name correction.
How to get my two-wheeler insurance policy copy online?
– You can get a copy of your two-wheeler insurance policy online by visiting the insurer’s website or app, logging into your account, and downloading the policy document.
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