Types of vehicle insurance?+
1) Third-party (mandatory) - covers others damage, Rs 2,000-5,000/year. 2) Comprehensive - covers your vehicle + others, Rs 5,000-30,000/year. 3) Standalone Own Damage - only your vehicle.
How is premium calculated?+
Factors: vehicle make/model, age, IDV, engine capacity, location (city RTO), claim history, NCB, add-ons selected, deductibles. Online calculators give instant quotes.
What is NCB?+
No Claim Bonus discount: 20% (1 year), 25% (2 years), 35% (3 years), 45% (4 years), 50% (5+ years). Lost on claim. Transferable when changing vehicle/insurer.
IDV explained?+
IDV (Insured Declared Value) = current market value of vehicle = approx amount you get if total loss. Decreases each year. Higher IDV = higher premium but better claim payout.
Comprehensive vs third-party?+
Third-party (mandatory): only damage to others. Cheaper. Comprehensive (recommended): your vehicle + others + theft + natural disasters + fire. Costs 5-10x more but full protection.
When to renew insurance?+
Renew BEFORE expiry to maintain NCB and avoid inspection. Online renewal up to 90 days before expiry. After expiry: vehicle inspection required, NCB may be lost, fines for uninsured driving.
Recommended add-ons?+
Zero Depreciation (no depreciation deduction at claim), Engine Protect (water/oil damage), Roadside Assistance, Return-to-Invoice (full new price if total loss in first 3 years), Tire Protect.
How to file claim?+
1) Inform insurer immediately (24x7 toll-free), 2) FIR for theft/major accident, 3) Drive to network garage, 4) Submit claim form + photos + estimate, 5) Surveyor inspects, 6) Approval + cashless OR reimbursement.