• Car Insurance Mumbai

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    As per the Motor Vehicles Act, it is mandatory for every car owners in India to insurer his/her vehicle with at least a third-party liability cover. It is vital for car owners residing in metropolitan cities such as Mumbai to insure their vehicles in order to protect them from unforeseen liabilities as a result of a mishap.

    Types of Car insurance Available in Mumbai

    There are two kinds of car insurance plans being offered in Mumbai:

    • Comprehensive Car insurance

    A comprehensive car insurance plan covers third-party as well as own damage liabilities that one incurs at the time of an unfortunate mishap.

    • Third-party Liability Cover A third-party liability car insurance plan covers third-party liabilities one incurs due to mishap.

    Top Car Insurers in Mumbai

    A number of car insurers in Mumbai offer good car insurance plans, a few among them are mentioned below:

    • ICICI Lombard General Insurance
    • New India Assurance Company
    • Reliance General Insurance
    • Tata AIG General Insurance
    • HDFC ERGO General Insurance

    Car Insurance Policy Purchase and Renewal in Mumbai

    You can avail a car insurance, either comprehensive or third-party, online or offline, depending on your convenience.

    • Online Purchase/Renewal of Car Insurance Policy

    You can purchase or renew car insurance online via third-party insurance websites or official websites of the insurer. The purchase can be made via any of the online modes of payment using debit card, credit card or netbanking.

    • Offline Purchase/Renewal of Car Insurance Policy

    You can visit any of the nearest insurance offices or meet with an insurance agent to purchase or renew the car insurance policy based on your insurance needs.

    Car Insurance Claim Process in Mumbai

    When you file a claim, there are certain steps involved before you can get your claim settlement. Below mentioned are the steps involved in the claim process:

    • Inform the insurer as soon as the mishap takes place
    • File an FIR at the nearest police station and obtain a copy of the same
    • Raise a insurance claim request with the insurer
    • An authorised surveyor will be sent to assess the incident and calculate the total value of damage incurred as a result of the mishap
    • Submit the requested copies of the relevant documents and have them verified against the originals of the documents
    • Once your documents have been processed and your documentation is in order, the surveyor will approve for your vehicle to be repaired
    • In case of cashless claim, you will have to get your vehicle towed or drive your vehicle to the nearest network garage and have it repaired. The insurer will cover the repair expenses in such case
    • In case of reimbursement claim, you will have to get your vehicle towed or drive your vehicle to the nearest garage and have it repaired. You will have to pay for the repairs yourself and later have the insurer reimburse the amount you spent on the repairs

    Car Insurance Inclusions and Exclusions

    Car insurance in Mumbai comes with certain inclusions and exclusions such as:

    • Inclusions:
      • Third-party liabilities
      • Damage/loss as a result of natural calamities
      • Damage/loss as a result of man-made calamities
      • Damage/loss in case of theft
      • Own damage liabilities
    • Exclusions:
      • Damage/loss if a private vehicle was being used for commercial purpose and vice-versa
      • Damage/loss when the policy has expired
      • Damage/loss if the driver was underage or didn’t have a valid license
      • Damage/loss due to nuclear perils or wars
      • Damage/loss if the driver was under the influence of alcohol or drugs

    Car Insurance Add-ons Offered in Mumbai

    Insurers in Mumbai offer certain add-ons with the comprehensive car insurance policy to increase the insurance coverage, a few of them are mentioned below:

    • Key Replacement Cover
    • No Claim Bonus Protection Cover
    • Engine and Circuit Protect Cover
    • Zero Depreciation Cover
    • Return to Invoice Cover

    Discounts Offered on Car Insurance Premiums in Mumbai

    Insurers in Mumbai offer a n umber of discounts on the car insurance premium, a few of them are mentioned below:

    • Discount if you are a member of any automobile associations in India
    • Discount if you have installed ARAI approved safety devices in your car
    • Professional Discount
    • No Claim Bonus Discount
    • Discount if you have opted for a higher voluntary deductible

    News About Car Insurance

    • Mumbai RTO to keep an eye on your car insurance

      If you have not been issued a single challan or you have not been involved any road accident for a period of five years, you may qualify for lower premiums on your motor vehicle.

      The transport department has proposed plans to incentivise good road behaviours by making people eligible for lower premiums if they have not been involved in any road accident for five years. On the other hand, it has also been proposed by the transport department to the Insurance Regulatory and Development Authority of India (IRDAI) to increase premiums for those who time and again have violated traffic rules as a penalty.

      The State transport department of Maharashtra also plans to link the database of vehicles in Maharashtra on the Vahan software with the IRDAI database. This will allow them to have direct access to all the vehicles’ insurance data and also check if that vehicle has been involved in any road mishap and has also paid the fines for the same. If the owner of a vehicle has failed to get his motor vehicle insured, the authorities will impound and return the vehicle only after the person has purchased valid motor insurance.

      10 December 2018

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