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Car Insurance

Why Car Insurance With A2Z Insurance?

Your car needs more than just fuel and maintenance. A car insurance policy is a crucial factor which ensures the flawless upkeep of your precious vehicle. A2Z Insurance & Financial Services "Car Insurance Plans" are carefully designed to offer enhanced protection at affordable rates. Our key benefits include:-

  •  Vast Cashless Network of Garages
  •  Instant Renewal without Paperwork
  •  24x7 Roadside Assistance*
  •  Comprehensive Vehicle Insurance Cover
  •  A Range of Add-on covers for enhanced protection

 

Why Car Insurance Needed?

Comprehensive Damage Cover

You may already be aware that Third Party Liability Car Insurance is mandatory by law. Therefore, if you own a Car, you are mandated by law to take up a Third Party Liability Cover. However, taking up a car insurance policy that doesn't compensate your own damages seems pointless, doesn't it? A comprehensive damage cover was developed to offer a broad coverage against all possible damages arising from a variety of risks.

Our comprehensive car insurance policy offers protection against damages caused to your car by way of risks such as collisions, theft, fire and so on. Additionally, a comprehensive car insurance policy also covers third-party liabilities and offers extensive protection for your car.

Add-On Covers

When it comes to Car Insurance, additional coverage is always better. You can enhance your vehicle insurance coverage protection further with our wide-range of add-on covers such as Nil Depreciation, Consumables Cover, Engine Protection Cover, Invoice Cover, NCB Protection Road Side Assistance & Key Protect Cover.

How to choose the one that's best for you?

Now that you understand the nuances of both types of Car Insurance Policies you must be contemplating about which one to choose. Here is some valuable recommendations to help you with your decision:

 The Third Party Liability Car Insurance policy is generally chosen by Individuals who want to buy car Insurance as it is mandatory by Law.
 If you seek overall Protection from the damages caused due to Unforeseen Accidents, opting for a Comprehensive Car Insurance policy is the best option.
 Additionally, you can pick Add-on Covers as per the risks which are more relevant to you.

Car Insurance Things To Know!

Information is the key to make the right decisions. To ensure that you make an informed purchase, we have explained the essential car insurance concepts right here: -

What is IDV?

The IDV (Insured Declared Value) is the current market value of the car which is calculated after deducting the depreciation amount. It is a crucial component of the car insurance policy as it determines the amount of compensation. In case of theft or total destruction of the car, the IDV is offered as "Sum Insured".

What is No Claim Bonus?

When you don't file a claim during your policy period, you will be eligible for a discount on your next premiums which is referred to as a No-Claim Bonus. This discount will keep increasing progressively for each claim-free year until the car insurance premium is reduced up to 50%.

What are the different kinds of add-on covers available?

We offer a wide range of add-on covers to ensure superior protection from a variety of risks. You can opt for add-on covers such as Nil-Dep cover (Zero Depreciation), NCB retention cover (avail the NCB despite registering a claim), 24x7 Roadside Assistance, Personal Accident cover (covers personal damages), electrical/electronic accessories cover and many more. Refer to our add-on cover section, for more details.

How will a Zero Depreciation Cover Help you?

You may already know that the monetary value of your car reduces overtime. This eventuality is a result of asset depreciation. Nevertheless, with Reliance General Car Insurance policy, you can combat the losses of depreciation by taking up a zero depreciation add-on cover along with your car insurance. With a zero depreciation cover, you can be assured that the entire claim amount will be paid to you without deducting the depreciation sum.

How Is A Car Insurance Premium Calculated?

Your car insurance premium is calculated based on several factors such as: -
1. Car Manufacturer and Model e.g. Honda City
2. Cubic capacity (cc) e.g. 1497 CC
3. Age of the Car e.g. 3 Years 
4. Insured Declared Value (IDV) - This is the current market value of your car which is calculated after deducting depreciation.
5. No Claim Bonus (NCB) - NCB is a discount that you get on your premium amount when you have made any claims during your previous policy period. This Discount will keep increasing progressively for each claim-free year until the car insurance premium is reduced up to 50%. 
6. Tax - The appropriate taxes that are eligible to be levied on your premium amount (9% CGST and 9% SGST in India)
The premium amount to be paid is calculated as: Premium Estimate = IDV*Age of Car – NCB + Tax. Other factors like add-on covers, discounts, purpose of the vehicle and safety features such as airbags and anti-theft devices will also be taken into consideration while calculating your car insurance premium.

Not sure if you need car Insurance? Numbers Don't Lie!

The poor road conditions and a blatant disregard for traffic regulations make Indian roads one of the most dangerous in the world.

These fatalities are only expected to rise in the future.
We don't mean to scare you by these grim statistics. The statistics reflect the kind of dangers that the roads entail. Hence, It's better to be safe than sorry!

How To Save On Car Insurance Policy Premium?

Know Your Car's IDV
The value of your car depreciates overtime; hence it is important to know your IDV. A lower IDV attracts a lower premium.

Claim Your No Claim Bonus
The No Claim Bonus is your rightful reward for being a responsible driver. Earn discounts of up to 50% on your premium year-on-year.

Install Security Devices
The safer your car, the lower will be the premium. Installing anti-theft devices can fetch you up to 2.5% discount on your car insurance premium.

Become AAI Member
Become a member of the Automobile Association of India and you can secure a concession on personal-damage premium.

 

Increase the Voluntary Deductible
A Voluntary deductible is the amount you agree to pay out of your pocket. The higher your voluntary deductible, the lesser will be your premium.

 

What Does Your Policy Cover?

Even if you are an expert driver who maintains the car in top condition, safety is not guaranteed. At A2Z Insurance & Financial Services, we Endeavour to provide you with the best possible auto insurance coverage.

Fire Hailstorm Hailstorm
Flood Cyclone Hurricane
Frost Landslide Self-Ignition
Theft Acci dent Riot & Strikes and/or
Tempest Terrorism Malicious Acts
Typhoon Inundation Transit by Rail,
Earthquake Lightening Road, Air & Elevator
Explosion Rockslide  

How We Can Help You?

Providing Coverage is just one aspect of our Car Insurance Policy. What if you are stranded due to an Accident or Car-Breakdown? Don't worry, we offer roadside assistance within a large 25-km radius of your car breakdown location. To avail 24x7 instant roadside assistance download Anywhere Assist App on your Android Smartphone. We offer the following assistance services: -

Add-On Covers

Many car insurance holders are of the opinion that buying add-ons are unnecessary. This is because a car insurance policy offers basic protection against damage and losses to your vehicle, so one might think that add-on covers are avoidable.

When you are on the road, your safety is at risk from a number of factors. Therefore, add-on covers are not just additional costs; they are assets which earn you several advantages. At A2Z Insurance & Financial Service, we want to make sure our car insurance holders can secure the best possible protection for themselves. So choose wisely and secure your car with our assortment of add-on covers.

Your Car Insurance Premium Will Be More Than Affordable with Our Special Discounts

At A2Z Insurance & Financial Services, we offer you the best of both the worlds. Get enhanced Protection at attractive Premium Rates. Here are the discounts we offer: -

No Claim Bonus (NCB)

The No Claim Bonus is your rightful reward for being a responsible driver. As our responsible customer, you can enjoy No Claim Bonus which increases progressively on a yearly basis, until the discount reaches a whopping 50%. Here's how it is accumulated on a yearly basis: -

No. of Years Discount
One claim-free year 20%
Two consecutive claim-free years 25%
Three consecutive claim-free years 35%
Four consecutive claim-free years 45%
Five consecutive claim-free years 50%

Voluntary Deductible

You can avail discounts on your car insurance premium in case you have opted for a voluntary deductible while buying the policy. A Voluntary deductible is a minimum amount that you choose to pay from the claim amount. The higher the Deductible amount, the lower is your auto insurance premium. Please refer to the below table for the applicable Voluntary Deductible: -

 VOLUNTARY DEDUCTIBLE DISCOUNT
Rs 2500 20% on the OD premium of the vehicle, subject to a maximum of Rs 750/-
Rs 5000 25% on the OD premium of the vehicle, subject to a maximum of Rs 1500/-
Rs 7500 30% on the OD premium of the vehicle, subject to a maximum of Rs 2000/-
Rs 15000 35% on the OD premium of the vehicle,  subject to a maximum of Rs 2500/-

Additional Discounts

Besides the attractive discounts offered by NCB, you can avail additional discounts on auto insurance in case…

  •  You are a Memberer of any recognized Automobile Association
  •  You have installed an Anti-Theft Device in your car
  •  You have covered the vehicle for Specific Location usage

Car Insurance Policy Exclusions

As much as we would like to cover all possible risks, certain situations are just not feasible.
We like to maintain complete transparency with our customers. So here's what we don't cover: -

  • General Wear and Tear of the car
  • Mechanical and Electrical Breakdown
  • Cars being used other than in accordance with the limitations as to use. For example, if you use a private car for remuneration purpose.
  • Damage to/by person driving without a Valid Driving License
  • Loss or damage caused while Driving under the influence of Alcohol or any other Intoxicating Substance
  • Loss or damage due to Depreciation of the Car's value
  • Loss or damage due to War or Nuclear Risks
  • Consequential Loss if the original damage causes subsequent damage/loss, only the original damage will be covered under our motor car insurance
  • Compulsory deductibles a fixed amount that gets deducted at the time of the claim
  • Depreciation Cover shall not be applicable to Theft & Total loss claims

We offer comprehensive car Insurance Plans for various car Brands and Models.

*T&C apply. Discount is applicable on OD Premium. Details mentioned here by A2Z Insurance & Financial Services for the product- Private Car Package Policy.

Why Car Insurance Comparison?

While motor insurance is mandatory, it is also essential to get the best policy within the desired budget. At A2Z Insurance & Financial Services, we have tie-ups with several insurance companies to serve the best premium rates. The process that we follow to provide free quotes is very simple. You simply need to put your personal details and vehicle related details in the online form, and in just a few steps you can get the best vehicle insurance policy.

By following these steps you can easily get the best and cheapest insurance policy that directly saves your hard earned money. The portal provides free quotes that will help you to choose best one. Our comparison service is free and unbiased. Our Sales Team will assist you in every possible manner and you can contact us anytime in case of assistance.

Major Reasons For Car Insurance Claim Rejection

  •  No valid license
  •  Second-hand car but no insurance
  •  Delay in informing your insurer
  •  Influence of alcohol or drugs
  •  Consequential Damages
  •  Your car is too old to be repaired
  •  Car Repairing without informing your Insurer
  •  Installing unregistered CNG kit
  •  Exceeding limitation of use

Documents Required To Buy Car Insurance Online.

Purchasing motor insurance online requires minimal documentation. If you are buying a new insurance policy, then you need to fill a proposal form and a copy of the Registration Certificate (RC). Every vehicle owner (private or Non- Commercial Vehicle) is required to register his vehicle at the nearest RTO (Regional Transport Office).

In case of renewals, you need to provide a copy of the Registration Certificate (RC) along with the previous insurance Policy. It is advisable for you to fill your details carefully as by providing the accurate and complete information you will face no issues at the time of a claim.

Things To Consider Before Buying Car Insurance Plan

Brand:

While buying a policy it is vital to pay attention to the reputation of the Insurance Company. You must check the company's record and claim ratio. An insurance company with a bad claims ratio would not be advisable when buying a vehicle insurance policy.

Voluntary Excess:

According to the experts, the voluntary excess should be less than the NCB amount you will qualify for next year.

Safety features:

If your car has any safety feature like Alarm, Immobilizer then you can get a great discount.

NCB:

It is advisable that you do not claim for minor damages and repairs which you can pay from your own pocket and which does not add any additional burden on you. It is advisable if you save your NCB for future requirements which may require higher cost spends.

Network garages:

The aim of buying car insurance policy is to protect you from any financial emergency in case of any damage/loss of your vehicle. Most online companies provide cashless services only if your vehicle was repaired in a Network Garage. Therefore, look for insurers with maximum Network Garages present in their list.

Latest Car Insurance News-

Linking of Aadhaar with Insurance Policy Is Mandatory, Says IRDA November 13, 2017

On Wednesday, 8th Nov 2017, the Insurance Regulatory and Development Authority of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.

"The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017," the IRDA said.

In the last June, the government of India had informed about the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, making Aaadhar and PAN/Form 60 compulsory for getting financial services that include insurance also and asked policyholders and companies for linking the existing policies with the same.

In a discussion with all life and general insurance companies, IRDA said the rules have "statutory force" and they have to implement the rule without waiting for the further instructions.

Right now, there are 24 life insurers and 33 general insurance companies operating in the country.

Although, there are no deadlines that have been given by IRDA for the completion of the process, as per the circular, it has to be done as soon as possible. Some insurance companies also said that this can also result in the delay of payout in a few cases. Aadhaar is now also compulsory for financial transactions of Rs 50,000 and above. Likewise, one has to link one's Aadhaar number with the mobile number latest by February 6, 2018.

General Insurance Companies in India

  • Acko General
  • Bajaj Allianz
  • Bharti Axa
  • Cholamandalam MS
  • DHFL
  • Future Generali
  • Go-Digit
  • HDFC Ergo Car Insurance
  • ICICI Lombard
  • Iffco Tokio
  • Kotak Mahindra General
  • Liberty General
  • Magma-HDI
  • National Insurance
  • New India Assurance
  • Oriental Insurance
  • Raheja QBE
  • Reliance General
  • Royal Sundaram
  • SBI General
  • Shriram General
  • Tata AIG
  • United India
  • Universal Sompo