q : What is Car indemnity policy ?
Ans: Car Insurance is a type of four wheeler insurance policy that provides fiscal coverage to the benefactive role of the car policy if your cable car is damaged in an accident or natural calamity. A cable car indemnity policy helps to save you money if you ‘re involved in an accident or the fomite is damaged in some way .
Q : When should you renew car indemnity policy ?
Ans: The policyholder should renew his car policy before the death of his existing policy. This will ensure that there is no break in in policy and you can continue to avail benefits such as no claim bonus .
q : What is Zero Dep in Car policy policy ?
Ans: Zero Dep refers to Zero depreciation car insurance. It is an accessory cover that allows the policyholder to get compensation astir to the insured declared value ( IDV ) or current marketplace measure of the car without taking disparagement into account. You need to pay an excess premium come to avail benefits of zero DEP in your 4 wheelwright indemnity policy .
q : How many times we can claim car insurance in a year ?
Ans: The limit to filing a claim for 4-wheeler policy per year varies from one indemnity supplier to another. Most insurance companies allow multiple claims in a year until the IDV is not exhausted. You should check your policy document to know the demand number of times you can claim your four wheeler policy policy in a year.
q : What is bumper to bumper Car indemnity policy ?
Ans: Bumper to bumper car indemnity refers to the indemnity policy that provides accomplished protection to the insure car without considering the depreciation of its parts. In early words, this type of four wheeler indemnity allows the policyholder to obtain compensation up to the market measure of the cable car in case of wrong or passing to the car. however, it attracts about 20 % higher premiums than your regular 4-wheeler policy policies .
q : What is IDV ( Insured Declared Value ) in Car policy policy ?
Ans: Insured declared value ( IDV ) is the utmost total to be paid by an insurance company at the time of a claim if the vehicle is a full passing or stolen. It is the sum cover and is fixed at the beginning of the policy period for each insure fomite .
q : If I fit CNG or LPG kit out in my car, is it necessity to inform the Insurance Company ?
associate in nursing : If you get LPG or CNG fitted in your car, you have to get it endorsed in your cable car
Certificate or RC. then, inform your insurance company about the switch to get it endorsed in your four cyclist indemnity policy.
As the cost of the
bounty amount will differ
basis on the
fuel type of your cable car .
q : How can I add/delete Hypothecation in my Car indemnity policy ?
- To add hypothecation in car insurance policy: Letter from the bank or financer/endorsed RC copy has to be submitted at the office of the insurance company.
- To delete hypothecation in a motor insurance policy: No objection certificate (NOC)/endorsed RC copy has to be submitted at the office of the insurance company.
associate in nursing : Hypothecation is used for creating charges against the security of movable assets. The possession of goods remains with the borrower. For exemplify, in the case of a cable car lend, the vehicle remains with the borrower, but the ownership is hypothecated to the bank. It means the bank has a right field to sell the vehicle if there is any default in repaying the car loanword. In case of a hypothecate vehicle, it is important to obtain NOC from the financer if the payment has to be obtained by the policyholder. otherwise claim total will be paid to the financer for losses to the car other than larceny .
q : What are the risks covered by the comprehensive car policy ?
Ans : Your comprehensive insurance policy covers- Liability to the third party, accident by external means, fire, explosion, self-ignition, lightning, riots, strikes, terrorism, malicious acts, earthquake, deluge, storm, landslide, theodolite by rail, road, waterways, air or lift, burglary, larceny or housebreaking .
q : What is a cashless facility in car policy ?
associate in nursing : Cashless facility means you don ’ t need to pay anything for the rectify of your car. alternatively, your policy company will directly pay the bill sum to the garage. If your insurance company offers the cashless adeptness, all you have to do is take your fomite to the favored workshop of the indemnity company. The workshop will contact the insurance company and settle the rectify poster with them .
q : How IDV is calculated in fomite insurance ?
Age of the vehicle Depreciation value in % Not more than 6 months 5 More than 6 months but below 1 year 15 More than 1 year but below 2 years 20 More than 2 years but below 3 years 30 More than 3 years but below 4 years 40 More than 4 years but below 5 years 50
The applicable depreciation on vehicles, which are obsolete or aged over 5 years, varies from one insurer to another. autonomic nervous system : The IDV is calculated by subtracting the depreciation on the car from the manufacturer ’ mho listed sell price of the cable car model. The manufacturer ’ s betray price includes local duties/taxes but excludes adjustment and indemnity cost. Different disparagement slab to calculate the IDV are detailed below : The applicable depreciation on vehicles, which are disused or aged over 5 years, varies from one insurance company to another .
q : What is No Claim Bonus ( NCB ) in Car indemnity policy ?
autonomic nervous system : No claim bonus ( NCB ) is a deduction on renewal premium offered by insurance companies if the vehicle owner has not made a one claim throughout the previous motor insurance policy term .
q : What happens to the centrifugal insurance policy if I sell my car ?
- You need to get a sale affidavit made with details of the transfer, details of the new owner and details of payment. It should be notarized and signed .
- Fill up the RTO transfer forms and obtain a headroom security from your Regional Transport Office ( RTO ) .
- Fill up the new marriage proposal form
- Attach the documents listed above
- resign it to your insurance company
- The policy will be transferred within 14 days
autonomic nervous system : If you sell your car, you need to transfer your four-wheel policy policy to the name of the modern owner. You can follow the steps given below to transfer your centrifugal insurance to the new owner :
q : How do I get a duplicate copy of my car insurance policy on-line ?
associate in nursing : You can get a duplicate replicate of your four-wheel indemnity policy on-line by downloading it from your centrifugal insurance company ’ s web site. All you need to do is log into your report on the web site and enter the want details to get a transcript of your policy on your electronic mail. You can download the duplicate policy from the electronic mail sent to you .
q : How can I check the handiness of a four-wheeler policy plan ?
autonomic nervous system : In case you want to know the handiness of a car policy design, you can check it on the policy company ’ s web site or by contacting them over the call. You can besides check the handiness of four-wheeler insurance plans by multiple insurers at brokers websites, such as policybazaar.com .
q : How can I download a car insurance certificate/ policy ?
- Visit the website from where you had purchased insurance for your car
- Go to the option of downloading the policy online or log into your account on the website
- Enter your policy number and other requested details, including your mobile number and email id
- Your insurer may send an OTP on your registered mobile number
- Enter the OTP in the provided space and submit it
- The insurer will send the copy of your 4-wheeler insurance policy/ certificate on your email id
- Download your vehicle insurance policy/ certificate from the email
associate in nursing : Follow the bit-by-bit procedure given below to download your car policy/ certificate on-line :
q : Where can I find my car policy policy count ?
- You can find the policy number on the indemnity certificate or policy document issued by your motive insurance company .
- You can check it online if you have an explanation at the insurer/ insurance brokers ’ web site .
- If you purchased your four-wheeler policy through an agent, you can ask him/ her to tell you the policy number .
- You can besides visit your insurance company ’ second nearest branch or call them to know your policy issue .
- You can check it at the web site of the Insurance Information Bureau ( IIB ), which maintains the commemorate of all drive indemnity policies in India .
associate in nursing : There are multiple ways to find your vehicle indemnity policy count :
q : What to do if there is a mistake in my car policy document ?
autonomic nervous system : In shell there is a mistake in your car policy document, you should immediately notify your insurance company about it. Provide attest of the right information and request your insurance company to rectify the mistake. Once the insurance company receives the attest, they will pass an endorsement or issue a new policy document with the adjust information.
Read more: The 7 Best Car Insurance Companies (2022)
q : Is an on-line cable car policy policy a valid document ?
associate in nursing : Yes. A four-wheeler insurance policy text file issued on-line is legally valid under the motor laws of India. however, make certain that the policy has been purchased from an IRDAI registered policy company or agent web site .
q : What should I do if I lose my on-line car policy ?
- immediately inform your centrifugal insurance company about the loss of your car policy document
- File an FIR with the Police regarding the loss of the document
- Write an application to your insurance company requesting them to issue a duplicate policy text file. Mention details, such as policy count, your name, issue date, how you lost the policy, etc., in the application letter
- Publish an ad in a state newspaper mentioning the loss of your policy document
- Get a notarize indemnity bond, stating your entire list, with signatures of two witnesses
- Submit the lotion letter, indemnity adhere and replicate of the FIR to the insurance company
- After receiving all the documents, your insurance company will issue the duplicate policy document
You can also download a copy of your online policy from your insurer’s website by providing the required details. autonomic nervous system : If you have lost your on-line policy text file, you need to apply for its double imitate. Follow the steps given below to obtain a duplicate four-wheel policy policy : You can besides download a copy of your on-line policy from your insurance company ’ second web site by providing the ask details .
q : Do I need to file an FIR to raise a car indemnity claim ?
autonomic nervous system : Under certain types of claims, your centrifugal insurance company may need you to file a first Information Report or FIR with the Police as contribution of the claim work. For exemplify, claims arising out of car larceny or third party liabilities will require a Police FIR. On the other handwriting, claims arising out of car damages due to natural calamities may not need a Police FIR .
q : How hanker does it take to settle a car policy claim ?
associate in nursing : There is no standard time period for all policy companies to settle a fomite insurance claim. The call colonization period varies from one insurance company to another. For exercise, one insurance company may settle your claim within 7 days whereas another one may settle it within 14 days of raising a claim. furthermore, claims with complexity normally take more fourth dimension to be settled than bare claims, such as a car incision .
q : How can I check my cable car policy policy condition ?
associate in nursing : To know the status of your four-wheel policy policy, you can check the policy depart date and termination date mentioned in your policy document. Your policy will be active or valid in the period between the policy start and termination date. On the other hand, your policy will be dormant before the depart date and exhale after the termination date .
You can besides check the condition of your policy on-line on the web site of the Insurance Information Bureau ( IIB ) or VAHAN e-services. You only have to enter the details of your car on either of the websites and submit them. The details of your car policy policy, including the policy termination date, will be displayed .
q : How can I transfer the four-wheel insurance policy to my name ?
- Fill up Form 28, Form 29 and Form 30 available with the RTO bearing the previous policy owner’s signature
- Submit the filled-in forms to the RTO along with the proof of vehicle sale
- Get the Clearance Certificate from the RTO
- Submit the required documents to the motor insurance company, including application form, old policy document, original RC with your name on it, NOC from the previous owner, etc.
- Pay the transfer fees
associate in nursing : To transfer a vehicle indemnity policy to your appoint, you need to follow the steps given below : The policy will be transferred to your name and a new policy document will be issued to you .
q : How hanker does it take to buy/ reincarnate car insurance on-line ?
autonomic nervous system : One of the benefits of buying or reincarnate car policy on-line is that it is a fast action and does not take a lot of time. If you have all the required details about your four-wheel and the previous policy handy, you will not take more than a few minutes to buy/ renew your car policy on-line .
q : How can I renew expired car insurance on-line ?
- Visit the website from where you want to renew your vehicle insurance
- Go to the option of online policy renewal for cars
- Enter your expired policy number and other requested details
- Review the details of your vehicle
- Select the type of policy coverage
- Upload the pictures of your car (in case of self-inspection)
- Pay the policy renewal premium online
- Your expired car policy will be renewed
autonomic nervous system : At the clock of renewing your die car policy, your fomite may need to undergo an inspection. While some insurers allow self-inspection, others may send a surveyor to assess the condition of your car. In the second case, you will have to schedule a surveyor date by contacting your policy supplier. Once the survey is complete, follow the steps given below to online renew your exhale four-wheeler insurance policy :
q : How a lot time will it take to get my policy document if I buy/ regenerate car indemnity on-line ?
autonomic nervous system : If you have purchased/ renewed four-wheeler policy on-line, you will most probable receive your policy document on your record electronic mail id within a few minutes of paying the bounty .
q : Is it dependable to online renew a car indemnity policy ?
autonomic nervous system : Yes, on-line cable car insurance reclamation is absolutely dependable. In fact, on-line buying/ renewal of indemnity is considered safer than the offline method because of batten payment gateways that reduce the chances of fraud .
q : What is the price of renewing a car policy ?
associate in nursing : The cost of renewing your 4-wheeler policy policy depends on several factors, such as the age of the cable car, its engine cubic capacity and the make & model of the car. The type of policy coverage you choose and the geographic area where you drive your car besides influence your premium. furthermore, the choose accessory covers, deductibles and your No Claim Bonus besides affect the refilling premium of your insurance policy .
Q : Does car indemnity cover passengers ?
autonomic nervous system : largely, motive policy companies do not cover passengers travelling in the insured vehicle under four-wheeler indemnity in case of an accident. only the owner-driver of the car is covered for personal accident. however, passenger cover is offered as an addition by motor insurers in India to provide personal accident cover for the nameless passengers travelling in the car .
Q : Does a car indemnity policy traverse tire damages ?
Ans : Most centrifugal indemnity companies entirely cover accidental damages to the vehicle ’ randomness tyres under four-wheel insurance. Any non-accidental passing or damages to the tyres due to wear and tear are not covered. however, you can buy a sur protect addition cover to keep any non-accidental passing or damages to your car ’ randomness tyres covered under your four-wheel policy policy .
q : Will my car policy embrace electrical fires ?
autonomic nervous system : Yes. any loss or damages caused to your car ascribable to electrical fires ( or fire resulting out of a short-circuit ) are covered under four-wheel policy .
q : What is the policy title routine in encase of car larceny ?
- File an FIR with the Police as soon as your car gets stolen
- Intimate your insurer about the theft of your car
- Inform your RTO about the theft
- Submit all the required documents, including the claim form, FIR copy, RC, etc., to the insurer
- Obtain the No Trace report from the Police
associate in nursing : In font your cable car has been stolen, you must file an indemnity claim with your drive insurance company at the earliest. Take a look at the process of filing cable car larceny claims under four-wheeler policy below : The insurance company will process your call and pay the IDV of your car in about 90 days .
q : What should I do to cancel my claim ?
associate in nursing : You can cancel an policy claim by contacting your motor insurance company and informing them about your decision to cancel it. You can besides speak to your vehicle surveyor about cancelling the claim in font there is an inspection scheduled.
however, you can not cancel any third-party liability claims with your insurance company where you are at fault for causing accidental third-party loss or damages .
q : What will happen to my No Claim Bonus if I renew my run out car policy ?
autonomic nervous system : If you renew your run out four-wheel indemnity policy within 90 days of the policy termination date, then your No Claim Bonus ( NCB ) will remain intact. however, if you renew the run out policy after 90 days, you will lose your NCB .
q : What is the penalty for driving without valid cable car indemnity nowadays ?
associate in nursing : If you are catch driving your car without a valid insurance policy for the inaugural prison term, you will be liable to pay a penalty of Rs 2000 or/and will be jailed for up to three months. In font you are caught without valid car insurance for the moment clock, you will have to pay Rs 4000 as a fine or/and serve up to three months in jail .
Q. Will my insurance company cover the accident caused by person else while driving my car ?
Yes, your centrifugal insurance company will cover the accidental damages caused to your car when person else is driving, provided you had allowed that person to use your vehicle. This is because car policy covers the liabilities arising out of the insured fomite and not the policyholder. however, your insurance company may not cover third party liabilities resulting from this accident and ask the person at fault to pay for them if he/she has a car indemnity policy. consequently, you must check with your insurance company if you face such a situation.
Read more: The Best Car Insurance Companies for 2022
Q. Should I raise a claim every time my cable car is damaged ?
No, you should avoid raising a claim for minor damages to your car as it will impact your No Claim Bonus. You must raise claims lone for major cable car damages that you can not afford .
Q. If I buy raw accessories for my car in the middle of the policy term, will they be covered ?
Yes, you can get your newly purchased car accessories covered under your insurance policy in the center of the policy tenure. however, you will have to write an application to your insurance company requesting them to pass an endorsement to cover them in your policy. You may have to pay an extra premium as your original policy coverage will get altered. After you have shared the details of the accessories and paid the extra premium, the insurance company will pass an endorsement .
Q. What will happen to my car indemnity policy if I change my city ?
If you change your city, your car insurance premium may get affected. This is because the premium for a car depends on the geographic location where it is used. If you move to a more hazardous place, you will have to pay a higher bounty. furthermore, you will besides have to update your contact details with your insurance company .