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Last year, on an average a whooping 57 accidents and 17 deaths took place in our country every hour. Doesn’t that highlight the importance of a car insurance policy?

With BlueBox on your side you can avail the right protection for your car that too at enticing premium.

What is Car Insurance?

Car Insurance or Motor Insurance is a financial protection against the risk of damage or theft of your car as well as third party liability that can arise from colliding with a person, vehicle, or property. In other words, when you opt for a car insurance policy, the insurance company will provide financial relief in the event of an accident or theft of your car.

There are mainly two types of car insurance policies:

  • Third Party Car Insurance Policy
  • Comprehensive Car insurance Policy
  1. Third Party Liability Cover :
    Third-Party Car Insurance covers the damages of the person, vehicle or property that you collide with. However, it does not provide any protection for your own car. It is mandatory in India, and is often preferred by cost-conscious people as driving without this policy is against the law. If you are looking for adequate protection for your car then only this cover is not enough!
  2. Comprehensive Insurance Cover : A much more extensive policy that provides coverage against damages to third-party as well as your own car. It also covers theft, personal accident, and legal liability. We highly recommend this cover as it provides overall protection and more peace of mind for the car owners.
Add-on covers available with Car Insurance:

The following are the add-ons covers which you can utilize to provide customized coverage for your car:

  • Zero Depreciation
    Zero-Depreciation cover also called as Bumper-to-Bumper or Nil-Depreciation cover ensures that in case of an accident, the cost of the new car parts is taken in to account without considering the depreciation of the parts. Depreciation rates affect plastic parts, rubber parts, nylon, batteries air bags etc.

    Let us understand using the following example:
    During a claim, cost of damage for Plastic parts is 10,000 and the depreciation considered is 50%, then the company will settle a bill of only five thousand rupees. The remaining amount has to be cleared by the policyholder. However, if you opt for the smart add-on cover of Zero-Depreciation then you receive the entire amount and depreciation rates are not considered.
  • Roadside Assistance
    A Roadside assistance feature takes care of all your hassles when your car breaks down. So, right from towing assistance, battery jumpstart, minor repairs, changing a flat tire, pulling out a vehicle that is stuck or helping people who are locked out of their cars, this feature has got it all.

    The following are the features that a roadside assistance cover generally offers:

    1. 24/7 roadside assistance service when your car breaks down
    2. Battery jumpstart
    3. Minor repairs
    4. Tyre punctures
    5. Emergency Fuel Assistance
    6. Organizing a taxi
    7. Arranging Hotel Accommodation
    8. Towing Assistance
    9. Delivering a spare key
    10. Phone assistance to inform your family and friends
  • NCB Protect
    NCB-Protect cover is an add-on which saves your accumulated No-Claim-Bonus even after making a claim. Thus, it gives you the confidence to drive and make claims without worrying about losing your NCB.

    No-claim bonus is the reward you receive for being a responsible driver and not making a claim for an entire year. You receive a discount at the time of renewal to encourage your safe driving skills. This discount can soar up to 50% of the premium amount.

    When you have accumulated a considerable NCB percentage and you encounter a major accident where the cost of repairs is high, you are in a fix as you are bound to lose your hard-earned NCB. That’s when a NCB-Protect add-on comes into the picture. It empowers you to make two claims in a year without losing your NCB and hence enables you to enjoy the best of both worlds.
    Nevertheless, please be informed that you can avail this service only twice in a year. The third claim in a financial year will dent your NCB.
  • Engine Protect Cover
    Against popular belief, damage to the most important part of the car i.e. the engine, is not covered by a standard comprehensive policy. To solve this problem, we have the Engine Protect cover. An Engine-Protect add-on provides optimum coverage to the engine of the car and provides financial protection when it is damaged.
    Considering that in our country the streets are waterlogged every monsoon, this cover becomes even more imperative. The water-logging is detrimental to the engine condition and lakhs of engines are damaged every year.
    Therefore, it is prudent to pay a slightly higher premium and opt for an Engine-protect cover to save thousands as well as our peace of mind.

    With Engine-Protect coverage you can be relaxed about the following:

    a) Damage to connecting rods and pistons
    b) Damage to gearbox
    c) Entry of water in your engine
    d) Leakage of the lubricating oil
    e) Damage to electronic circuits

    What is not covered with Engine Protect?

    a) Starting your car when it is waterlogged
    b) Car’s after the age of five years
    c) Three or more claims
  • Return to Invoice Cover
    In the event of theft of your vehicle or damage beyond repair, you are compensated considering the Insured Declared Value(IDV). However, when you buy a car you have to pay for Road Tax, Registration Cost, Insurance and other taxes as well. Hence, you are bound to lose out on these costs. The Return-to-Invoice add-on covers the difference between the depreciated value of your car and its invoice value in case your car is stolen or damaged beyond repair. This cover ensures you get the total amount that you paid during buying process including road taxes and the registration charges. Simply put, the value of the car returns to invoice amount.
  • Consumables cover
    It covers expenses for brake oil, engine oil, lubricants, nuts, bolts, screws, fuel filter, oil filter, lubricants, washer, grease etc during a valid claim under the policy. When your car is being repaired, a lot of consumables are needed by your car. A standard comprehensive policy does not cover consumables. With a consumable cover, you don’t need to worry about the consumable expenses as well.
  • Garage Cash Cover

    Garage cash cover provides compensation for your daily commuting requirements till your car is back from the garage during the claim process. You receive a daily travelling allowance of a certain value from the insurance company. This ensures that the cost of daily commuting doesn’t sting your pocket

    Exclusions in Garage Cash cover:

    1. Your car is repaired at a garage that does not have a tie-up with your insurance company
    2. The repairs continue over and above the stipulated time as mentioned in the policy wording
    3. The repairs begin before taking consent of the insurance company
  • Loss of Belongings
    Loss of Belongings cover provides protection of valuables in the car such as electronics against theft or damage. In case you are used to keeping expensive items such as your tablet, mobile, stereo etc in your car, then this cover is a must-have for you.
  • Tyre Damage
    A standard comprehensive policy does not cover accidents where only tyres are damaged. Therefore, the policyholder has to shell out money for the following type of tyre damages: bulge, puncture, bursting, cut or accidental damage. This add-on covers repair and replacement cost for accidental loss to tyres, but not arising out of normal wear and tear.
  • Personal Accident Cover to Owner/Driver
    This cover offers financial protection to the owner as well as the paid driver in case of death or disablement due to an accident
  • Key and Lock Cover
    Key and Lock Cover secures your key and ignition lock against any theft or damage. Considering the exorbitant costs of a key set, especially for luxury cars, this cover has the potential to save you thousands.
  • Legal Liability to Driver
    A Legal compensation if someone files a case against the driver for damages during an accident. It also covers any employee related to driving or cleaning or maintenance of motor vehicle against any fatal accident under the workmen compensation act
  • Medical Expenses Cover
    An accident can lead to injuries or worse for the passengers. Therefore, the victims are likely to need immediate medical attention. The expenses incurred for the medical treatment of the victims is covered by this add-on.

We judge a policy by its cover! Hence, it is imperative to understand the different scenarios that the policy protects us from. Similarly, we need to be certain of the different exclusions of the policy. After all, this information will help us make better decisions.

  • What all is covered under a Car Insurance policy?

    Car insurance provides Protection of your car against the following:

    • Earthquake, Fire, Lightning
    • Explosion, Implosion, Self-ignition
    • Storm, Flood, Inundation, Landslide, Cyclone etc
    • Theft, Accident, Riot, Strike, Terrorism, Damage in transit, etc
    • Legal Liability due to injury, death or damage to the property of the third party
    • Personal Accident cover of Rs. 1-2 lakh against the risk of death and permanent disablement resulting from an accident
  • What is not covered under a Car Insurance policy?

    we try to bundle everything for you in your policy. however, even we have our limitations.

    We believe in total transparency to ensure there are no surprises during the claim process. The following are the scenarios in which even a car insurance policy can’t come to your rescue:

    • Gradual wear and tear of the car
    • Damage or loss of vehicle when the policy is not in effect
    • If you don’t follow the traffic laws such as drinking under the influence of alcohol, or refrain from carrying your license
    • Non-compliance of car manufacturer’s guidelines
    • Damage or loss to Engine due to oil leakage
    • In case a personal vehicle is being used for commercial purposes
    • Damage or loss due to depreciation
    • Consequential loss
    • Any mechanical or electrical breakdown
    • Any loss of damage to your car because of war or nuclear perils
Motor Insurance FAQs
Policy Cover Related
  • Why do I need Car Insurance policy?

    First of all, as per the Motor Vehicles Act 1988, it is mandatory to have a valid car insurance policy for every car owner.

    Apart from that, a car accident or car theft can lead to a possible financial catastrophe. Therefore, a protection of a car insurance policy will enable you to drive confidently with complete peace of mind. In addition, insurance also covers the safety of someone else’s property.

  • What is Third Party Liability Insurance?

    A. Third party liability insurance protects you against damages to the vehicle or body of a third-party. In other words, if you crash into a vehicle on the road your third party insurance company will pay the damages.

    Third Party Insurance provides the following covers:

    1. Any permanent injury/death to a person caused by your vehicle
    2. Any damage caused to the property (excluding vehicle) of someone else by your vehicle
  • What are the different types of auto Insurance available?

    There are two types of covers available:

    Third party cover – This protects you from any legal liability in case of an accident with a third-party. However, you will have to pay from your own pocket if your own car is damaged.

    Comprehensive cover – On top of the 3rd party coverage it also provides protection for your own vehicle against fire, accident, vandalism, theft and much more. It is a more exhaustive and hence the more preferred cover

  • What are the different types of vehicles that can be insured online?

    Any kind of private vehicle, be it two-wheeler or four wheeler can be insured online.

  • What is covered under a Comprehensive Policy?

    The following is the coverage of a comprehensive policy:

    • Own Damage to the Insured vehicle caused by:-
    • Accident by External Means
    • Fire, Explosion, Self Ignition and Lightning
    • Transit by Road, Rail, Inland Waterway, Air, Lift
    • Burglary, House breaking or Theft
    • Terrorism, Riots, Strikes or Malicious Acts
    • Third Party Liability:-
    • Injury or Death of Third Party
    • Property Damage
    • Personal Accident
    • Injury or Death of Third Party
  • What are the documents required to buy policy online?

    As such no documentation is required to buy a motor insurance policy online. This makes things really simple. Isn’t it?

    However, you can be asked about details such as:

    • Car Registration number
    • Engine number
    • Chassis number
    • Previous policy number (if valid)
    • Car manufacturing date
    • Date and city of car purchase
    • Your contact details (address, phone no and email id)
    • A copy of your car’s RC book
  • Why should I purchase car insurance online?

    The game-changer in online insurance is the fact that you receive enticing discounts and get the option to compare and choose policies from the comfort of your house.

    The fact that you can compare the coverage and premium of different policies in seconds ensures you get the best deal with optimum coverage and most competitive premium.

    In addition, you can also enjoy innovative facilities such as renewal reminders through emails, and SMS, Secure online gateways, and safe tracking of your policies. Buying online gives you the option of paying though your Debit Card, Credit Card, or Net-banking.

  • Is it possible to renew my motor insurance policy online?

    Certainly! You can renew your motor insurance policy by providing your policy number and engine number.

  • Can passengers travelling in the car be insured?

    A. Yes, they can be insured against the risk of Personal Accident by opting for an add-on and paying a slightly higher premium.

    Can the paid driver of the car also be insured under the same policy?

    A. Yes, it is possible to insure the paid driver as per the recent amendment in Workmen’s Compensation Act. This add-on is available on payment of an additional premium.

  • What is the meaning of No Claim Bonus (NCB)? Is it important?

    Your NCB can be an absolute game-changer in reducing your car insurance premium. It is basically a small discount that your insurer offers you at the end of each claim-free year as a reward for your safe-driving. This amazing discount is accumulated every year starting at 20% in the first claim-free year, 25% in the second, 35% in the third, reaching up to 50% in the fifth claim-free year.

  • Can I transfer my NCB if I wish to switch my insurer?

    Absolutely!

    You can transfer your NCB within 90 days of your renewal date. If you wish to transfer it at the time of renewal, you simply have to inform your new insurance company about it and provide your NCB certificate.

  • If I fit CNG or LPG kit in my vehicle, whom do I need to inform?

    You need to declare it in your insurance papers at the time of purchasing a policy because CNG or LPG kit will need to be insured individually. However, if it is externally fitted in your car after the policy issuance then all you need to do is intimate your insurance company and submit a copy of your updated RC certificate.

Policy Premium Related
  • How is the premium calculated?

    The premium you pay is calculated considering the following details of the vehicle: Insured’s Declared Value (IDV), Place of Registration, Make-Model, and fuel type

    You can reduce the premium amount if you avail certain discounts based on your age, occupation and accrued NCB. Obviously, you will need to submit documents to prove your age, occupation or NCB.

    In case you opt for add-ons, your premium will be increased.

  • Is the premium of an expired Car Insurance higher?

    Yes, it is. This is because a car insurance policy has a validity period. Once, this period is over, the coverage is no longer active. Therefore, post 90 days of expiry you will need to get your car inspected by a car surveyor and lose our on your No-Claim bonus. Hence, these overheads lead to increase in the overall premium amount.

  • Is it possible to pay my auto insurance premium in instalments?

    Unfortunately, under the Insurance Act 1938, a motor insurance premium cannot be paid or accepted in instalments.

Policy Claims Related
  • What are the documents that are required to register a motor insurance claim?

    The following are a list of documents that are necessary while making a claim:

    For Damages due to an accident:

    • A duly filled claim form
    • Policy copy
    • A copy of the Tax receipt and the registration book
    • A copy of Driving license of the person driving the vehicle during the accident
    • FIR copy( for a third-part claim/ death/ or injury
    • An estimate of the repair costs before the vehicle is repaired
    • Bills and payment receipts after the repairs
    • Additional documents (if required)
  • Specifically for Theft cases:
    • FIR and final report of investigation
    • Original Registration book
    • Details of previous insurance
    • Policy Copy
    • Available sets of keys, warranty cards, service booklets etc
    • Acknowledged copy of the letter addressed to RTO informing them about the Theft
    • Additional documents(if required)
  • What is the meaning of Total Loss?

    Total Loss of a vehicle happens when the cost of repairs amounts to over 75% of the IDV on your policy. This means that it is impractical to invest on repairing your vehicle

  • What is salvage and what happens to it?

    A. Salvage refers to discarded parts that are damaged beyond repair and, therefore, need to be replaced. If these parts hold no economic value (broken glass, torn plastic, rubber parts), they are generally discarded

  • What is a cashless claim and reimbursement claim?

    There are two ways of going about your claim. Namely,

    1. Cashless Claim
    2. Re-imbursement claim

    In a Cashless claim, cash is not exchanged during the claim settlement. The insurance company directly pays the repair costs to the garage. However, the garage needs to have a tie-up with the insurance company. In addition, it needs to be noted that the mandatory deductible and consumables cost needs to be shelled out by the owner.

    In a Reimbursement Claim, you will have to settle the entire garage bill from your own pocket and later claim re-imbursement from the insurance company by submitting bills and payment receipts.

  • What is the meaning of deductible?

    Deductible or excess is the amount a car owner needs to pay from his pocket during a claim.

    There are two types of deductibles:
    1. Mandatory Deductible: A mandatory deductible is the amount which the car owner has to compulsorily pay during a claim.
    2. Voluntary Deductible: The amount the car owner is willing to pay during a claim to reduce his premium is called a voluntary deductible
  • Under which circumstances should I intimate the police?

    In case of any of these events the Police need to be informed immediately:

    • Damage of third party property
    • Injury of self or third party
    • Theft of vehicle or accessories
  • How will I know when the survey will happen?

    As soon as a claim is registered a representative of the insurance company will give you a call to fix an appointment for the survey.

CAR INSURANCE

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Glossary

  1. Accident: Any Unforeseen and unexpected event is considered an accident. For insurance purposes it should be due to external, physical and violent means.

  2. Break In: A comprehensive policy that has expired and the customer propose to seek insurance for the same vehicle is a break-in policy.

  3. Cancellation: Insured can at any given point of time during the currency of policy can cancel the policy and can get the refund of premium on short period scale basis by a providing a notice of 7 days before the date of such cancellation. Insurer can also opt for cancellation, firstly a notice needs to be provided and the refund of premium is based on pro-rata basis.

  4. Certificate of Insurance: This is a document evidencing that a motor vehicle is insured against TP liability as required under the Motor Vehicle Act, 1988.

  5. Comprehensive Motor Insurance: A kind of policy where in the coverage is provided both for Third Party liability as well own damage to the motor vehicle.

  6. Constructive Total Loss: A loss of sufficient amount to make the cost of salvaging or repairing the property equal to or greater than the value of the property when repaired.

  7. Cover Note: A cover note is a temporary insurance certificate that is issued before the actual policy is issued to the insured, only after he has paid the premium for the insurance.

  8. Coverage: The scope of protection provided under a contract of insurance; any of several risks covered by a policy.

  9. Deductibles: It generally is the amount that is to be borne by the insured for any claims arising under the policy, this is arrangement is made by the insurer as to avoid frequent small claims.

  10. Depreciation: A decrease in the value of property over a period of time due to wear and tear or adolescence. Depreciation is used to determine the actual cash value of property at time of loss.

  11. Endorsement: It is documents which incorporates change or alteration in the existing policy. Endorsement is a duly signed written document which is attached with the policy document. An endorsement might or might not attract an additional premium.

  12. Exclusion: These are conditions and perils which are generally not covered under the policy. No claim is provided on operation of such perils.

  13. Franchise: An predefined amount under which

  14. Insured’s Declared Value: It is the value for which the motor insurance is provided for. Such value is obtained from the seller’s price after providing the appropriate depreciation to the value. It also includes the cost of accessories installed in the vehicle. Depreciation is provided as per table specified by the India Motor Tariff.

  15. Insured: One who buys and holds the insurance.

  16. Insurer: One who provides the insurance.

  17. Liability Only Policy: It covers the third party liability for bodily injury or death and property damage arising out of use of the insured vehicle. PA cover for owner driver is also covered in this. This is a mandatory cover by the MV Act, 1988.

  18. No Claim Bonus: It is a discount offered by the insured on renewal if there has been no claim during the previous policy period, it increase every year. The discount so provided is on Own damage premium. The discount is capped at 50% of the total OD premium.

  19. Own Damage: Damages which happens to the insured vehicle during an accident.

  20. Owner Driver: A person owning a car and holding the driving license is known as owner driver.

  21. Partial Disability: if due to an accident, the insured person due to injury is not able to do one or more of his work, then such a disability is known as partial disability. It can be permanent and temporary as well.

  22. Personal Accident Claims: If due to an accident, injury or death of the owner driver or the co passengers happens and claim arises, then such claims are known as personal accident claims.

  23. Policy Period: It is the period for which the insurance is active. Motor insurance generally used to be of yearly basis but now a day’s some insurers have started providing it for more than a year. This is period is mentioned on the insurance policy.

  24. Policy Schedule: It actually is the policy; it contains all the information regarding the insurance opted for such as period of insurance, what is covered and what is not covered.

  25. Preferred Garages: Garages which are tied up with the insurance companies to provide quick and easy assistance. Such garages provide cashless facilities for the repairs.

  26. Private Car: A car which is used only for personal use.

  27. Proposal Form: It is a document which is required to be filled by the proposer of the insurance; it seeks the basic information about the proposer and about the vehicle which is being insured under the motor insurance.

  28. Renewal: It is said as the repurchase of the insurance when the previous one is expired or is generally purchased before the expiry.

  29. Roadside Assistance: During the happening of an accident while the vehicle is on road and away from the city lines, motor insurance provides for variety of assistance to the insured vehicle as well as to the insured.

  30. Salvage: In general terms it is the damaged vehicle which is beyond repair and in return of claim is given to the insurer.

  31. Sum Insured: It is the limit of liability of the insurer under the policy for a given period of time.

  32. Third Party Claims: A demand made by a person against a policyholder and any payment that will be made by that company

  33. Third Party Property Damage: It is damage to the property of the third party by using an insured vehicle. Property can be anything holding any value. The limit for such damage is 7,50,000 for four wheelers and 1,00,000 for two wheelers.

  34. Total Loss: The complete loss or destruction of the motor vehicle insured under the policy.

  35. Total Theft Claims: It is claim for the vehicles which are stolen.

  36. Zero Depreciation: It is an additional cover under which, if opted for then the insured won’t be charged the cost of depreciation on parts which otherwise would get deducted from the final claim amount and required to be borne by the insured himself. Although it is applicable only for partial loss claims.