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.
There are two kinds of car insurance plans being offered in Mumbai:
A comprehensive car insurance plan covers third-party as well as own damage liabilities that one incurs at the time of an unfortunate mishap.
A number of car insurers in Mumbai offer good car insurance plans, a few among them are mentioned below:
You can avail a car insurance, either comprehensive or third-party, online or offline, depending on your convenience.
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.
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.
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:
Car insurance in Mumbai comes with certain inclusions and exclusions such as:
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:
Insurers in Mumbai offer a n umber of discounts on the car insurance premium, a few of them are mentioned below:
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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