SUV Car Insurance

Insurance providers for SUVs

There are a number of insurers in India offering motor insurance for SUVs, a few of them are listed below:

• Royal Sundaram General Insurance Co. Ltd.
• HDFC ERGO General Insurance Co. Ltd.
• IFFCO-Tokio General Insurance Co. Ltd.
• Future Generali India Insurance Co. Ltd.
• Bajaj Allianz General Insurance Co. Ltd.
• Bharti AXA General Insurance Co. Ltd.

Reasons to Buy Car Insurance For SUVs

Car insurance for SUVs offers a number of benefits in terms of financial support as well as vehicle assistance during an emergency. Also, as per the Motor Vehicles Act, it is mandatory in India for every vehicle owner to insure his/her vehicle with a third-party liability cover at least. Car insurance protects the car owner from third-party liabilities as well as own damage liabilities arising due to a mishap.

Different Types of Car Insurance for SUVs

There are two types of car insurance plans for SUVs:

• Third-party liability cover

This car insurance plan offers limited insurance coverage by covering only third-party liabilities arising due to a mishap.

• Comprehensive car insurance cover

This car insurance plan offers extensive insurance coverage by covering third-party liabilities as well as own damage liabilities arising due to a mishap.

Inclusions and Exclusions of Car Insurance for SUVs

Car insurance for SUVs comes with certain inclusions and exclusions:

• Inclusions of a Third-party liability cover:
  • Liability due to damage to a third-party vehicle
  • Liability due to injury to a third-party
  • Liability due to external property damage
• Exclusions of a Third-party liability cover:
  • Liability due to damage to own vehicle
  • Liability due to injury to self
• Inclusions of a Comprehensive cover
  • Liability due to damage to own vehicle
  • Liability due to injury to self
  • Liability due to damage to a third-party vehicle
  • Liability due to injury to a third-party
  • Liability due to external property damage
  • Loss or damage due to man-made calamities or natural calamities
  • Loss or damage due to theft
• Permanent Exclusions
  • If your policy has expired
  • Damage/loss due to war or nuclear risks
  • Loss/damage in case the driver was under the influence of alcohol/drugs during the mishap
  • Loss/damage due to depreciation
  • If the mishap was staged
  • Loss/damage in case the driver was underage or didn’t have a valid driving licence during the mishap
  • Loss/damage in case a commercial vehicle was used to serve personal purpose and vice-versa during the mishap
  • General wear and tear of the vehicle
  • Mechanical or electrical failure of the vehicle

Riders for Car Insurance for SUVs

Car insurance for SUVs come with add-on options that can increase your insurance coverage such as:

• Zero Depreciation Cover
• Roadside Assistance Cover
• Engine Protect Cover
• Return to Invoice Cover
• No Claim Bonus Cover
• Personal Accident Cover
• Key Replacement Cover

Purchase or Renewal of Car Insurance for SUVs

You can purchase or renew car insurance either online or offline depending on your convenience:

• Online:

You can visit a third-party insurance website or an insurer’s official website to purchase a car insurance or renew your existing insurance policy.

• Offline:

You can also opt to purchase or renew car insurance offline by visiting the nearest branch office of the insurer or meeting with an insurance agent.

Claim Process for Car Insurance for SUVs

Claim process for SUV car insurance can vary with the type of claim you have raised, cashless or reimbursement claim, the kind of incident occurred and liabilities incurred. The following are the general steps in the claim process:

• Inform the insurer as soon as the mishap takes place and register your claim request.
• File an FIR at the nearest police station and obtain a copy of the same.
• An authorised surveyor will be sent by the insurer to conduct a vehicle inspection and assess the total loss/damage incurred.
• You will have to submit the originals and copies of the necessary documents to the surveyor as requested, for the purpose of verification.
• In case of a cashless claim, take your car to the nearest authorised garage and get it fixed. The insurer will pay the garage directly for the repairs made.
• In case of a reimbursement claim, drive or get your car towed to the nearest garage and get it fixed. Once your car is fixed, pay the garage directly for the repairs made and submit the payment receipt to the insurer. The insurer will verify the receipt and reimburse the amount you spent on the repairs.

SUVs Car Insurance FAQs:

1. What is an IDV?

   IDV or Insured Declared Value is the maximum market value of your car at any given point in time with respect to its age.

2. What is No Claim Bonus?

   No Claim Bonus is the discount on insurance premium offered by the insurer to the insured for every claim-free year.

3. What are the different deductibles in car insurance?

   There are two types of deductibles in car insurance, voluntary deductible and compulsory excess. A voluntary deductible is a part of the insured premium that you volunteer to pay at the time of claim settlement. A compulsory Excess is the part of the insured amount fixed by the insurer that you agree to pay during the claim settlement.

4. What is the tenure of a car insurance policy?

   A car insurance policy is valid for 12 months.

5. What is depreciation in car insurance?

   Depreciation in car insurance is the loss in the market value of your car and is one of the factors that determine the IDV of your vehicle.