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    Customer Reviews

    • Iffco Tokio Car Insurance
      "Very good policy"
      0.5 5.0/5 "Blown Away!"
      I was having a car insurance policy with Iffco Tokio General insurance for past 10 years. The customer service is very good with Iffco Tokio, they do give reminder calls to renew the policy on time. I never had any claim experience so far. The plan benefits and the coverage are good with IFFCO TOKIO, sometimes they also gives no claim bonus with this policy. I am happy holding this insurance policy with Iffco Tokio.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Tata AIG Car Insurance
      "Worst Support Staff, Not Customer Friendly"
      0.5 0.5/5 "Unacceptable"
      They are not giving claims even for the right cases, they ask for money while asking for claim, If you deny in that case they will not approve claim. Also their CEO level people are not ready to understand customer. Worst Experience ever from TATA AIG, Never Recommend.
      Was this review helpful? 0
      , noida
      Reviewed on Jul 19, 2017
    • HDFC Ergo Car Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      HDFC ERGO is one of the trusted company, I have one policy with them. Normal, I used to get some bonus interest once in every five years. I used to pay the premium of Rs.6000 This policy has the tenure 20 years its good for investment even there customer service is really good.
      Was this review helpful? 0
      , haridwar
      Reviewed on Jul 12, 2017
    • United India Car Insurance
      "Better policy"
      0.5 5.0/5 "Blown Away!"
      I never had any kind of claim experience so far with my 4 wheeler insurance policy. I am renewing the 4 wheeler policy with United India Insurance for past 7 years. The charges are the same with United India and the 3 rd party insurance company, The policy coverages and the benefits are good with this policy, I paid Rs.49,000 to renew the policy this year. I am satisfied using this policy with United insurance.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jul 12, 2017
    • United India Car Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      Having a 4 wheeler insurance policy with United India insurance for more than 2 years. The customer service is really good with United insurance, they also gives a reminder call to renew the policy on time. I paid Rs.9500 to renew the policy last time and satisfied using united insurance policy. I never had any claim experience so far.
      Was this review helpful? 0
      , gulbarga
      Reviewed on Jul 12, 2017
    • Oriental Insurance Car Insurance
      "Good Insurance policy"
      0.5 4.0/5 "Great!"
      I recently got Oriental insurance policy for my car. I paid Rs. 28,000 to renew the policy. I don't get any kind of notifications to renew the policy before the due date. I never had any claim experience so far. I am happy holding a Oriental insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 10, 2017
    • Bajaj Allianz Car Insurance
      "Value Added Insurance, Clean and effective Settlement"
      0.5 4.5/5 "Excellent!"
      I am Bajaj Allianz car insurance owner and found few unmatched benefits. Their USPs are : 1. Higher IDVs (Insured Declared Value) 2. Low Premiums if negotiated 3. Free 24x7 Road Side Assistance 5 times/year FREE which includes FREE 5x2 litres fuel. On road, several times, their Trucks are visible which tow broke down cars for free. 4. Car replacement or equal compensation when it is lost or in case of Total Damage 5. Clean and swift Insurance settlements.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 05, 2017
    • New India Car Insurance
      "My i10 CSR insurance"
      0.5 5.0/5 "Blown Away!"
      I was done my insurance in new India assurance. It was immediately start process and everything is in online. I had saved 2000 Rupee's after compared with other insurances. Gr8 site. Less paper work no need to any extra work. Easy compare and completed payment online and done the insurance within 24 hrs.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 03, 2017
    • Bajaj Allianz Car Insurance
      "Excellent vehicle policy"
      0.5 5.0/5 "Blown Away!"
      I have got the 4 wheeler insurance policy with Bajaj Allianz general insurance. I hold a Volkswagen MU car. I paid around Rs.32,000 to get the policy with the zero % . If anything happens I no need not pay 1 rupee also because Bajaj Allianz will pay. The plan benefits and the policy coverages are good with this policy. I am happy to hold a 4 wheeler insurance policy with Bajaj Allainze.
      Was this review helpful? 0
      , agra
      Reviewed on Jul 01, 2017
    • Royal Sundaram Car Insurance
      "Good protection for my car"
      0.5 4.0/5 "Great!"
      Compared to other insurance provider, Royal Sundaram giving good coverage for consumer durable item like tyer, glass, air bags etc. Apart from that, they are giving Zero depreciation for car. I paid the premium of Rs. 17,000 for car insurance they giving 100% cover for my Maruthi vehicle.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 30, 2017
    • ICICI Lombard Car Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I didn't got any kind of claim experience so far with ICICI Lombard 4 wheeler insurance. I am having this ICICI Lombard 4 wheeler insurance for past 2 years. I have paid around Rs.10,500 in a year. This policy has the validity of 1 year. The policy coverages and the plan benefits are good with this policy. I am happy using this policy with ICICI Lombard insurance.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 29, 2017
    • United India Car Insurance
      "Very good policy"
      0.5 3.5/5 "Pretty good"
      I got a 4wheeler insurance policy with United India insurance for past 2 years. I got Hyundai i-10 car. I never had any kind of claim experience so far. The customer service with united insurance is average. I get the text message to renew the policy before the due date. I paid Rs.8000 to renew the policy. I am happy to hold a 4 wheeler insurance policy with United India insurance.
      Was this review helpful? 0
      , haridwar
      Reviewed on Jun 27, 2017
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    • This Week's Pick

      Bajaj Allianz Car Insurance - What is covered and what is not

      The Bajaj Allianz car insurance plan, with its comprehensive features, is one of the best in the Indian insurance domain today. If your car is protected by the policy, you can enjoy the convenience of cashless claim settlement for vehicle repair at more than 4,000 authorized network garages. In case you choose to get the car repaired at a preferred garage where the cashless facility is unavailable, you can avail 75% on your account payment.

      If you stay claim-free, you receive attractive discounts on future premiums. Members of the Automobile Association and those who have installed anti-theft devices in their cars can avail discounts as well.

      Inclusions

      • Own Damage Cover - The coverage includes losses due to natural calamities, man-made perils, or accidental means. If the vehicle was damaged in transit via rail, road, life, air, or inland waterways, the expenses for repair will also be covered.
      • Third-Party Liability Cover - Expenses arising out of injury/death of a third-party or damages to third-party property following a car accident will be covered.
      • Personal Accident Cover - This cover offers the policyholder/nominee a sum assured following a car accident, resulting in death or permanent total disability of the policyholder.

      Exclusions

      • Damages incurred by the vehicle outside the country are not covered.
      • Claims arising out of consequential loss or contractual liability are not honoured.
      • If the vehicle was used for activities mentioned outside the policy document, damages incurred will not be covered.

    What is Car Insurance?

    In 21st Century India, owning a car has moved beyond being a status symbol to an everyday necessity. Being a car owner proves your financial independence, puts you in a refined league of your peers and wins you some much-needed brownie points with the family. But, the joys of owning a car could be short-lived if say, your vehicle meets with an unfortunate and untimely accident, is stolen, is lost in a raging flood, or worse - if it turns up to be the cause of an accident that costs the life or property of a complete stranger. These situations can be disastrous, costly and frustrating!

    Car insurance is an insurance provided towards loss or damage of a vehicle such as a car, or commercial vehicle. It is a policy purchased by the car owner to mitigate costs incurred due to the accident that caused damages to the vehicle. Instead of paying through their own pocket, car owners pay premiums to an insurance company and the company pays most of the costs associated with the accident. The premium amount payable towards car insurance is decided by factors such as type of vehicle, age of the vehicle, age of the insured, insured declared value, etc. A car insurance covers for liability, property, and medical expenses. Although it is compulsory for vehicle owners to have insurance, some prefer to purchase additional insurance to ensure further protection.

    Enter, Car Insurance. This handy insurance policy covers you against the uncertainties that could befall your cherished vehicle and protects you against the probable financial losses. Car Insurance is usually very easy to purchase, to renew, and a number of reputed insurance companies and wealth managers count this as one of the premier products in their arsenal.

    Types of Car Insurance Policies in India

    In India, the following types of car insurance policies are in vogue. These policies are categorized based on their overall applicability and are targeted at specific conditions that can impact your cherished vehicle. Broadly speaking, motor vehicle insurance are of two types-

    1. Comprehensive Car Insurance
    2. Third Party Insurance

    Comprehensive Car Insurance : As the name specifies, Comprehensive Insurance accounts for a complete range of negatively impactful things that could happen to your vehicle. This includes robust protection from damage/complete loss of car, injury/death that occurs to self, injury/death endured by fellow passengers and/or contracted driver and protection against third party liabilities. Almost all commonly occurring factors are accounted for, including fire, flood, theft, riots, terrorist activities, accidents, etc.

    Third Party Insurance : In essence, Third Party Car Insurance doesn’t provide any coverage for the damage/complete loss endured by your vehicle, or the unfortunate injury/death that befalls the insurance holder. This specialised insurance policy serves as financial protection when your vehicle is involved in/is the originator of an unfortunate accident that results in the destruction of third party property and/or involves injury/death of a third party individual. In such cases, the affected party is likely to push you for damages/compensation and the same will be serviced by the applicable third party liability insurance. Thankfully, Indian laws make it mandatory that every car be insured with a basic third party insurance component.

    Compare Before Buying the Best Car Insurance Policy Online

    Want another reason to love the internet? How about the absolute ease and speed of comparing online a whole bunch of viable car insurance options?

    The best car insurance policies are out there and the World Wide Web offers you the personal, safe and time bound medium to explore them all.

    The internet is awash with third party websites that help you compare between the various car insurance policies available to you, from insurers both big and small.

    This definitely beats spending oodles of time, manually comparing between the various options- all the commuting, enquiring and double checking, is history!

    Humanity is an evolving species, right? The tested fundamentals of old are being slowly, but surely, replaced by modern day options that piggyback on the limitless possibilities offered by the internet.

    Comparing car insurance online between the various supposed ‘best’ car insurance policies is just one of the many advantages offered by the modern era of technology and the digital revolution.

    Why not indulge in them and gather the most updated, correct and easily retrievable information out there?

    If you are a vehicle owner, car insurance is definitely a very thoughtful (and compulsory) investment. And, if you are looking out for an all-encompassing car insurance policy, find the one that perfectly matches upto your requirements and limitations, online.

    What Terms are Usually Covered by a Car Insurance Policy?

    1. Loss or Damage to your Vehicle :

      The average car insurance policy covers the loss or damage endured by your vehicle due to the following reasons,

      • Natural Mishaps: Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide etc.
      • Man-made: Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air, etc.
    2. Personal Accident Cover:

      As part of the overall car insurance, most insurers provide personal accident cover in the event of your unfortunate accident while driving. This accident cover can also be extended to passengers, whose number must usually equal the maximum permissible occupancy in the vehicle, as stipulated by the vehicle manufacturer.

    3. Third-Party Legal Liability:

      The policy also provides for scenarios wherein your vehicle might have been the cause of/ been part of an accident that resulted in the injury, disability or death of an individual (not directly related to you) or caused damages to a third-party property.

    4. Additional Covers:

      Most policies also include provisions to add additional protection for the various secondary components of the vehicle, including electrical/non-electrical accessories, fog lights, stereo system, mats and seat cover etc. Implementation of bi-fuel injection systems, such as for CNG or LPG, can also be covered.

    Car Insurance Add On Covers - Optional But Most Important

    The following add-on covers are optionally available, and offer features that might not be entirely covered in the original, comprehensive car insurance policy. These optional car insurance add-on covers offer additional teeth, to your already loaded vehicle insurance policy.

    1. Roadside Assistance- An advantageous resource that plays its part when your vehicle suffers an accident or is rendered immobile due to any number of mechanical/electrical problems. Services include, towing, jump starting a battery, fueling up, help from a mechanic, replacement of keys, etc.
    2. Garage Cash- This car insurance add-on provides for the usual transportation and commute of the owner/driver when the vehicle in question is in the garage for an extended duration of time.
    3. Zero Depreciation Cover- This add-on cover allows you to claim the entire amount for the repair and replacement of damaged parts of your car. Thus, you do not lose money over the depreciation factor- the reduction of the price of the vehicle/spare parts, due to natural wear and tear that occurs from prolonged usage and normal passage of time.
    4. Voluntary Deductible- This clever add-on cover allows you to lower the payable premium amount by increasing the deductible amount in case of a claim. In such an event, the amount of voluntary deductible is borne by you. This add-on cover suits the confident driver, who could use a discounted premium.

    The Car Insurance Add On Covers mentioned above are just the tip of an iceberg. Insurers, in their own capacity, offer many more add-on covers that add additional value to the existing comprehensive car insurance policy.

    Car Insurance Companies in India

    “Based on IRDA Annual Report 2015-16 on Business Revenue of Insurers”

    1. ICICI Lombard Car Insurance

      If you scan across a multitude of popular media, the ICICI Lombard car insurance review will be found to be very encouraging and superior as compared to its immediate competition. A robust, customer oriented and hassle free insurance plan, the ICICI Lombard Car Insurance is designed for the busy, on-the-move Indian. Packed with such features as immediate online policy issue, on-road assistance at anytime and anywhere, over 3100+ network garages and a series of thoughtful riders including ‘Zero Depreciation Cover’ and ‘Accidental Cover for Co-Passengers’, this policy works hard to qualify as the ideal car insurance option for you. No wonder, the company is an absolute trendsetter when it comes to car insurance.

    2. Bajaj Allianz Car Insurance

      The car insurance packages from Bajaj Allianz are a very popular option with the everyday Indians who are proud owners of their very own set of wheels. Feature rich, customer centric, transparent with easy documentation, Bajaj Allianz Car Insurance comes with such irresistible features as cashless claims at over 1500 garages across India, competent 24x7 customer service, easy claims assistance and the option to purchase and renew the policy online. The handy Bajaj Allianz car insurance calculator available on our website, helps you pinpoint the exact dynamics of your investment and stay on top of things. The Bajaj Allianz Car Insurance is a solid loan option that has enjoyed immense popularity and support from the point of its inception.

    3. Reliance Car Insurance

      The car insurance package from Reliance, one of India’s iconic conglomerates, is tuned to be highly customer oriented, hassle free and reliable. The list of features and benefits are many, including, limited documentation, cashless facility at 2100+ member garages across India, easy and hassle free claim settlement as well as comprehensive on and off the road insurance that is in line with international standards and configured to take minimum time, minimum efforts and impart maximum feedback and consequently, peace of mind. Reliance Car Insurance has managed to build a staunch following in India, comprising mainly of the busy, always mobile, quality conscious and technology driven Indians.

    4. Tata AIG Car Insurance

      With such unique features as free car pick up in the event of an emergency, direct and hassle free settlement within 7 days, no claim bonus protection and coverage for non-core accessories like glass and plastic parts, Tata AIG was bound to be a key player in the car insurance segment- and the Tata AIG Car Insurance review from a plethora of satisfied customers amply proves this. The company is a collaboration between two business behemoths, the Tata Group and the American International Group, Inc. (AIG), thereby assuring that professionalism, domain expertise and quality are part of the deal when you purchase car insurance from Tata AIG. If you seek a robust, scalable and reliable insurance option for your cherished set of wheels, then Tata AIG Car Insurance is one of the best in the industry.

    5. Royal Sundaram Car Insurance

      The age old adage of ‘with experience comes perfection’ sits well with the Royal Sundaram Insurance Company. Licensed since 2001, the Royal Sundaram Car Insurance is a feature rich package that pales its competition in terms of the sheer customer centric options offered. 1800+ cashless garage network across India, 24x7 claims assistance, unlimited claims for zero-depreciation cover and free roadside assistance in the case of emergency makes the car insurance policy from Royal Sundaram a definite advantage. Enjoy peace of mind, cut loose and stretch your car’s running legs with a policy that is designed to have you covered at all times. Burn some rubber without worrying about a flat tyre, a breakdown or accident, Royal Sundaram’s assistance is with you anywhere and everywhere.

    6. Bharti AXA Car Insurance

      A car insurance policy that’s designed to protect your car, and importantly its passengers and you; Bharti AXA Car Insurance is a clear crowd favourite. Based on a multitude of customer feedback, the car insurance can be pegged as being exceptional, extremely car owner friendly and with a short turnaround time in terms of claim settlements. The essential features of this car insurance policy includes cashless servicing at 2000+ network garages across India, easy 24x7 claim assistance that is backed by a hassle free claims settlement process, and a string of helpful add-on covers. As one of the most popular general insurance companies, Bharti AXA has established its credibility on the back of quality driven processes and adoption of their cherished customers’ concerns as the guiding light that prompts the introduction of newer insurance products. No wonder, when it comes to Bharti AXA car insurance review, there are cheers everywhere!

    7. HDFC ERGO Car Insurance

      What happens when an Indian banking giant meets a world-beating general insurance pioneer? You get HDFC ERGO General Insurance and its premier product, the HDFC ERGO Car Insurance an insurance policy that is close to the popular public expectations, this car insurance comes loaded with lots of customer centric features and benefits. The list includes cashless claims service at 1600+ member garages across India, a dedicated and expert customer support team that’s always at your beck and call, easy and hassle free claims process and instant online policy issuance and renewals. HDFC ERGO has established itself as a premier car insurance product amongst the discerning Indian public.

    Know More About Car Insurance Companies in 2016

    In principle, the act of purchasing your car insurance online saves time, effort and the expenditure of money and patience, to varying degrees. Elaborating, the perks of latching onto a online car insurance policy are summarized as follows-

    Hassle Free Process- Unlike visiting an actual outlet of the insurer, the online car insurance application process is simpler and quicker. Plus, there are no documents to submit or verifications to affect immediately. Thus, within a very limited, clearly defined steps, you are the proud owner of a comprehensive car insurance policy. All of this, from the comfort of your abode or the workstation at your office!

    24x7 Coverage- The inherent speed of policy issue that is a principal characteristic of acquiring a online car insurance plan ensures that you are never without coverage. With the purchase of your car insurance online, get instantaneous policy issue with e-copies of the policy that can be accessed anytime, anywhere and printed out.

    Everyone is Doing it- Most of the domestic and international car insurance providers operating in India provide the option to purchase or renew your car insurance online. It’s all about customer comfort, right?

    The other benefits of subscribing to the e-route include the freedom afforded to you when choosing from a big list of insurers via their online profiles, and the option to conduct business the electronic way without involving money in its physical form. Bottomline, the manifestation of car insurance online is here to stay!!

    A car insurance policy offers comprehensive protection and safeguards against legal hassles & expensive repairs in case of a mishap involving the insured car. Choosing the right car insurance can be quite tasking. Not all the policies available in the market gel well with your expectations. It is important to engage good amount of time and resources in learning about benefits & features of policies available in the marketplace to ensure you get the best car insurance policy.

    Some of the key considerations should revolve around the following points.

    Claim Settlement Ratio

    • How many claims did the insurer receive during a stipulated period and how many were fully settled?
    • You can lookup for data on claim settlement on the insurer’s portal or scout for relevant forums online for reference.
    • Higher the claims settled, better are your prospects of a hassle free claim if a need arises in the future.

    Insurance Premium Amount

    Money plays a pivotal role in choosing the right car insurance policy. At the end of it, we would like to have a policy that has the best features at a nominal price.

    • Compare car insurance pricing online
    • Get quotes and decide
    • Inquire about hidden charges
    • Estimates for add on coverage

    After Sales & Customer Service

    A customer friendly insurer understands that efficient customer support is key to customer satisfaction & invests fair amount of resources in building an efficient customer service team.

    • Understand the efficacy of after sales and customer service
    • Read about experiences posted by existing customers
    • Review sites and online forums.

    In addition to the above, smaller facets such as network garages & workshops, cashless benefits, brand value should be explored before buying a car insurance.

    Listed below are the steps by which you can reduce the cost of your car insurance policy:

    Policy renewal
    • Renew your car insurance policy to avoid paying a higher premium the following year and undergoing car inspection after policy lapse.
    No Claim Bonus (NCB)
    • Don’t make small claims for damages such as dents and scratches. If you have not made any claims in the previous year, you will be rewarded with a No Claim Bonus at the time of policy renewal. NCB will be given to the policyholder in the form of premium discounts at the time of policy renewal.
    Safety features
    • If you install security or safety devices that are approved by the Automotive Research Association of India in your car, you can get discount on your insurance premium.

    Car insurance protects the interests of a car owner and safeguards it against expensive repairs and damages caused to self, the insured car and third party. We must take utmost care while driving by following traffic rules and by navigating safely to our destination. Having said this, there can be an unfortunate accident involving the car resulting in damage and/or casualties. In such situations, the car insurance comes handy, helping you to meet the financial obligations relating to the mishap.

    The claims procedure can be complex if you do not understand the dynamics surrounding it. Let us tell you more about how you can make it an easy experience.

    Claim for Own Damage

    In case of a major accident resulting in heavy damage to the car,

    • Inform the insurer immediately.
    • Record a claim and if required by the insurer, you may have to report the incident in the local police station.
    • Do not attempt to move the car unless confirmed by the insurer.
    • If it is a minor damage that does not require police intervention, move the car to a safe location & inform the insurer.
    • Raise a car insurance claim after assessing the damages. Upon authorisation by the representing surveyor, the claimant can proceed with the repair and replacement work.
    • You can pay and claim or if cashless facility is available, the car insurer directly settles the claim with the garage.

    Third Party Car Insurance Claim

    If the mishap involving your car resulted in damage or casualty to a third party that requires medical attention, shift the victim to a nearby medical facility immediately and call the insurer. The representatives will instruct you further on the action points.

    Get More Info On Third Party Car Insurance

    Theft Claim

    If the car is stolen,

    • Report to the jurisdictional police and insist on an FIR(First Information Report).
    • Call the insurer immediately and inform them about the theft.
    • You will asked to provide a written complaint in the form of an e mail or a letter.
    • Follow the instructions provided for hassle free settlement of the car insurance claim.
    • Referring to the original policy document will help you in getting acquainted with the timelines and procedures.

    The modern world is online 24x7, affecting everything from shopping to clearing out EMIs with ease and reliability. Why must you wait in line to subscribe to a good car insurance policy? Banks has woken upto the advantages of offering car insurance renewal online and are ably supported by third party websites that compare the various available insurance policy products. The inherent procedure is as simple as-

    1. Know Your Requirements- How much car insurance are you looking for? What kind of premium amount are you comfortable with? What type of features and benefits would make for a comprehensive car insurance policy? Understanding your express requirements is always the first step.

    2. Go Online- Access the online portal of the chosen car insurance vendor and purchase the policy after complying with some basic Know Your Customer (KYC) procedures. Usually, requisite documents can be submitted at a later stage when claims are raised on the policy, rendering the online signup procedure that much faster.

    3. Car Insurance Renewal Online- The aforementioned online portal also offers motor insurance renewal. Respond to timely notifications from your insurance provider and pay your premiums on the portal itself. All of this is quick, robust and economical when compared to its traditional, offline version.

    In the modern context, purchasing car insurance online has emerged as a popular option amongst busy people, especially working professionals dwelling in the metros and other big Indian cities. Car insurance companies too have woken upto the latent potential of offering motor insurance online, hosting comprehensive web portals that simplify the procedures of gaining information, signing up and renewing car insurance policies through the magic of the World Wide Web. How can you purchase car insurance online? Read on…

    1. Compare- Different companies, different car insurance products, and hidden somewhere in this pile is your ideal motor insurance policy. It pays to check out the various available options, in terms of the money you save and the additional features that you can get for the average buck.

    2. Login to Purchase- After selecting the ideal policy, it’s time to seek out the insurance provider’s website and check if the option to purchase the motor insurance online is available. Most well-known companies do, and the purchase procedure in itself shouldn’t take a great deal of time. Payments can be affected through credit/debit cards, or netbanking. Also, in most cases, provision of the requisite documents could wait until an actual claim is raised on the policy at a later date.

    3. Renew Online- If purchasing car insurance online was easy, periodically renewing the same is simpler. Just pay heed to the timely emails/SMS from your insurance provider and renew the policy just as how you purchased it in the first place.

    The World Wide Web has simplified our lives in a whole range of ways- the option to buy car insurance online being one such uber convenience. Ditch the long lines and the confusion, compare and purchase your motor insurance policy online.

    This is a very good question. Why bother with the chicken when you are a Vegan, right? Primarily, the following five reasons should answer your query:

    1. It’s the Law

      Under the provisions of the Motor Vehicles Act of India, all vehicles that operate in public places must have a car insurance policy as a mandatory document. At the very least, the policy must cover ‘third-party liability’, that is, a cover in scenarios where your vehicle was the cause of an accident that resulted in injury, loss of property and/or death of a third party.

    2. Pay Little Today, Save Big Tomorrow

      According to recent estimates, every 6th car crash in the world happens in India. This is staggering odds and a likely indication that your car could very well end up on the side of the road one of these days, after a brutal crash that could have resulted in injury, death and of course, massive losses in terms of repairs and replacements for your car. At that instance, the compensation and charges could run into several thousand or lakhs of rupees that may not be immediately available. However, with Car Insurance, there is complete peace of mind - paying a nominal premium today, to be tension-free when an unforeseen accident happens at a later date.

    3. Saving Time When Accidents Happen

      Accidents are stressful on their own without having to deal with the question of ‘What next?’ With your car insurance, comes your insurer’s expertise in handling these tense situations. Walking you through the claims process, helping you find a good garage and settling your claim on time - things that you will be thankful for when dealing with the aftermath of an unfortunate road accident.

    4. A Supplement for your Health Insurance

      Most Car Insurance policies offer coverage for injuries that might be sustained by you and your fellow passengers as a result of your vehicle’s accident. If not, personal injury protection can be purchased as an add-on feature. This acts as a powerful supplement to your health insurance - additionally covering for items that might not be covered by your health policy, including specialist care for accident-related injuries, dental repairs, funeral costs etc.

    5. Sustained Peace of Mind

      Just imagine, cruising on an open highway or wriggling through rush hour traffic without overtly worrying about the consequences (mostly financial) of a freak accident or an ‘innocent’ brush-up with an adjoining vehicle. Not having to pay for the mistakes of others. That’s mental peace - in it’s purest form!

    In today’s fast paced world, getting things done online is nothing short of a divine boon. Car Insurance renewal online is today’s reality, and quite a popular one at that. Almost all car insurance companies in India provide their customers the option to renew their policies online, through simple net banking transactions, or the safe usage of credit/debit cards.

    In the bargain, the customer saves valuable time, saves on the basic impetus of money as well as saves his/her often understated patience. The insurers on the other hand, offer this simple online renewal option and are assured of more inquisitive interest from their target audience, greater number of loyal repeat customers, and sizable savings in terms of setting up and maintaining the offline infrastructure. Online policy renewal is here to stay!

    When it is time to renew your car insurance policy there are certain things that you have to take into consideration such as:

    • Multiple policies discount: If you purchase more than one policy from the same insurance provider, you may be eligible for a discount on your insurance cost.
    • Add more than one person: You can add more than one person to your car insurance cover with a co-passenger cover. Thus, save up on insurance cost for another policy.
    • No Claim Bonus: If you haven’t made a single claim the previous year, you can enjoy a No Claim Bonus in the form of a discount on insurance premium when renewing your policy.
    • Claim Settlement Ratio: Check the CSR of your insurance provider and change the insurance provider if the CSR is low or the after-sales service is bad.
    • Appropriate coverage: Check if you have appropriate coverage for your vehicle and yourself. This includes evaluating the Insured Declared Value (IDV) of your car.
    • Discounts and offers: Choose an insurance provider who offers excellent discounts on premiums and other offers such as cashless garage facility and roadside assistance.
    • Safety equipment or measures: If you install safety devices in your car, the insurance premium may be lower than usual.
    • Add-on covers: From zero depreciation cover to medical expense cover, you can customise your insurance policy with relevant add-ons.

    It’s advisable to be aware of what is included and excluded under your car insurance policy in order to avoid difficulties at the time of a claim. The below table lists the inclusions and exclusions under the auto insurance policies available in India:

    Inclusion Exclusion
    Auto insurance covers third-party damage and personal damage as a result of a road accident. Damages caused as a result of accidents occurring while driving under the influence of alcohol or drugs is not included under the policy.
    Damage caused as a result of natural disasters such as floods, earthquakes, etc. Intentional or deliberate accidents are not covered.
    Coverage against manmade disasters such as theft, riot, fire damage, etc. Illegal activities such as driving on the wrong side of the road, invalid driving licence, underage driving and such are not covered.
    Auto insurance provides cover against damage to third-party property or body. Auto insurance doesn’t cover driving outside the geographical zone, lapsed policies, regular wear and tear of car parts, electrical or mechanical damages, etc.

    While choosing a car insurance, the car owner can take certain steps to get the lowest insurance premium possible such as:

    • Members of the Automobile Association of India will receive additional discounts on premium.
    • Discounts will be offered to those who install anti-theft devices in their car for safety.
    • No Claim Bonus (NCB) will be given to the policyholder in the form of premium discounts at the time of policy renewal. Don’t make small claims such as dents and scratches. If you have not made any claims in the previous year, you will be rewarded with a No Claim Bonus at the time of policy renewal.
    • Purchase car insurance policy online to get discounts on your premium and to avoid paying distribution costs.
    • Increase the voluntary excess to lower the premium.
    • Insurance providers may reduce the premium to those owning more than one insurance policy with the same company.
    • Pay the premium on time to avoid policy lapse. Make it a point to renew your car insurance policy on time. You can begin the renewal process 2 months before the policy expiry date. Renewal process has become extremely easy and fast now with the online renewal facility provided by most reputable insurance companies.
    • Park the car in a garage to increase its safety and lower its insurance premium.
    • A smart device plugged into the OBD of the car engine can record the car owner’s driving history. The captured data can be used by the insurance provider to determine the insurance premium at the time of policy renewal. Therefore, drive carefully to keep low risk scores.
    • Nominate an experienced driver of a suitable age for the insurance policy.
    • Opt for traditional cars as sports cars attract higher insurance premiums due to the high accident-risk factor. Similarly, vintage and classic cars will have higher insurance premiums as they require a specialised insurance policy.

    The documents needed for accident claims are:

    • Duly-filled and signed claim form.
    • A copy of your vehicle’s RC.
    • A copy of your valid Driving Licence.
    • A copy of the first 2 pages of your policy document.
    • A copy of the FIR.
    • The original estimate, invoice, and payment receipt for cash and cashless garage.
    • Stamp required in the case of a company registered vehicle.

    The documents needed for theft claims are:

    • Duly-filled and signed claim form.
    • A copy of your vehicle’s RC with car keys.
    • A copy of your valid Driving Licence.
    • A copy of the first 2 pages of your policy document.
    • A copy of the FIR.
    • RTO transfer papers, and Forms 28, 29, 30, and 35.
    • Final report from the police mentioning that the vehicle cannot be located.
    • Stamp required in the case of a company registered vehicle.

    The documents needed for third-party claims are:

    • Duly-filled and signed claim form.
    • A copy of the FIR.
    • A copy of your valid Driving Licence.
    • A copy of the first 2 pages of your policy document.
    • A copy of your vehicle’s RC.
    • Stamp required in the case of a company registered vehicle.

    At the time of policy renewal, many policyholders consider changing their insurance provider under certain circumstances such as:

    • If you want to get a lower premium that is not offered by the current insurance provider.
    • If you are dissatisfied with the service provided by the current insurance provider.
    • If another insurance provider offers better discounts, add-on covers, and customised car insurance policies than your current insurance provider.
    • The Claim Settlement Ratio and after-sales service of the insurance company has to be taken into account when choosing an insurance provider.

    Auto insurance makes up almost 70% of the general insurance industry. There are several auto insurance companies competing with each other to get the attention of the customers. Compare the various insurance policies provided by top insurance companies before purchasing the one that best suits your car insurance needs. ICICI Lombard, Bajaj Allianz, Reliance Car Insurance, Tata AIG, and Bharti AXA are some of the top car insurance providers in India.

    1. Is owning a car insurance policy mandatory?

    Yes. According to prevalent motor vehicles laws in India, every vehicle plying on Indian roads must be insured.

    2. Is it possible to purchase car insurance online?

    Yes. Infact, the option to buy car insurance online is often highlighted by most compliant insurers as a surefire means to stay covered 24x7 and never run out of the applicable coverage.

    3. How do insurers calculate the applicable car insurance premiums?

    When deciding upon the applicable premium amount, many factors are at play. Different companies charge different rates, based on differing criterias, when it comes to own damage cover. Also, deductibles and the IDV factor play a part when the premium amounts are decided upon. Shop around, and find a policy that best matches your requirements- ideally, avoiding a scenario wherein the premium might be less but the deductibles are high and the coverage and IDV are low.

    4. What is ‘No Claim Bonus’?

    No Claim Bonus, or NCB in car insurance is the benefit awarded to the insured for not making any claims during the previous policy period. Currently, this bonus ranges from 20% on the Own Damage premium upto a maximum of 50%. Note that this doesn’t apply on liability premium.

    5. Is service tax applicable on the premium payments?

    Yes. The applicable service tax is in line with the regulations set by the Insurance Regulatory and Development Authority of India (IRDA).

    6. What documents must always be available in the vehicle for ready inspection?

    1. Copy of the Driving Licence of the individual driving the vehicle.
    2. Insurance Certificate.
    3. Copy of the vehicle’s Registration Certificate.
    4. ‘Pollution Under Control’ Certificate.

    7. What must I do if I lose my insurance policy?

    Getting a duplicate copy of your insurance policy is very easy. You could either approach your insurer’s office for the same or, if you have procured the car insurance online, print-out the soft-copy of the policy that was forwarded to you.

    8. What is IDV?

    The Insured’s Declared Value (IDV) refers to the current market value of your vehicle as fixed by your car insurance company. The IDV comes in handy when claims are raised in cases of theft or total loss of the vehicle. Your insurer arrives at your vehicle’s IDV by pitting the manufacturer’s listed selling price against the commonly adhered to depreciation percentage.

    9. What is Zero Depreciation Cover?

    Commonly offered as an Add-On, the Zero Depreciation Cover offers full settlement on your claim without the usual deduction affected for depreciation (or periodic reduction in value of the vehicle/automotive parts due to natural wear and tear caused due to normal usage). Deduction due to depreciation is a common factor with the normal car insurance.

    10. Why car insurance premiums differ from company to company?

    Car insurance premium rates differ from one company to another based on their own internal protocols. The company calculates your premium based on these factors- a) The risk posed by you to the insurer, b) the insurer’s operational costs, c) the estimated money that the insurer is likely to pay as settlement through the year.

    11. What are the factors to consider before buying a car insurance policy?

    1. Brand and track record of the insurer.
    2. Coverage and the fine print.
    3. Customer service- both offline and online.
    4. Customization, perks and discounts.
    5. The clincher- Price!!

    12. How to calculate car insurance premiums?

    The simplest way to calculate your car insurance premiums is with a good Car Insurance Premium Calculator. While most lending banks offer this facility on their websites, competent third party calculators are also readily available.

    13. What is covered under third party motor insurance?

    Third party motor insurance doesn’t cover you and your vehicle. Its major purpose is to protect you against any liability that could arise from your vehicle’s involvement in an accident that led to the loss, damage, injury or death of third party property or individuals. Summing up, the following is covered-

    1. Damage to third party property.
    2. Injury or death of a third party (individual(s)).
    3. Accidental death and/or permanent total disability of the insured vehicle’s owner/driver.

    14. I have shifted to a new place. Is it necessary to update my registration address on my car insurance? How do I do it?

    Of course it is necessary to update your change of address at RTO as well as inform your motor insurer. You can get in touch with your insurance provider via their toll free number, email or in person. You can do this online as well. Just go to the official website and enter the details in the required columns.

    15. How do I go about transferring my car insurance from one firm to another?

    After informing your current car insurance provider, please submit the documents mentioned below.

    1. Transfer of Policy (Sale of Vehicle)
    2. New RC duplicate copy /form 29-30
    3. Old policy document
    4. NOC from the last insured
    5. Transfer Charge - INR 50
    6. Duly filled new application form, collected from the company.
    7. Inspection of the car

    16. I am eligible for a No Claims Bonus (NCB). But I earned it when I went abroad. Can I still avail it?

    Being a safe driver, you certainly deserve a reward. But when it comes to earning it abroad, there are some slight variations to the eligibility. An insurance user can be granted a No Claims Bonus (NCB) on a new car insurance plan taken out in india as per the eligibility earned overseas. But this is applicable only if the scheme is taken out in india within three years of expiration of the international car insurance plan, depending on applicable provisions of NCB as per these rules and regulations.

    17. Can I get medical cover for bodily harm or demise of the passenger(s) commuted in my car? Should I buy separate cover for that?

    This is exactly why third party cover is mandatory for all car owners. Car insurance is there to safeguard you when the unforeseen occurs. But when your own actions on the road cause a mishap, this cover becomes even more crucial. And yes, medical expenses are also covered in the third party car insurance, mandatory for all car owners.

    18. My car insurance policy application was rejected. What do I do?

    There are several insurance providers in India. You can compare various insurance policies online and apply for an insurance policy from a different provider. Third-party insurance plans are mandate for all vehicles in India. Therefore, you can purchase a third-party insurance and not have to worry about rejection.

    19. How does car insurance excess work?

    When you make an insurance claim, you will have to pay certain amount of money called the excess if the accident was caused by you. You will have a compulsory excess and a voluntary excess that will combined together to form your car insurance excess. Compulsory excess is the amount you have to pay when making a claim and voluntary excess is the amount you volunteer to pay towards the repair costs.

    20. How is car insurance cost calculated in India?

    The IDV and NCB is taken into account while calculating car insurance costs in India along with other discounts and offers.

    21. Do car insurance premiums increase after an accident claim?

    Yes, your car insurance premium is bound to rise after an accident claim. Even a single auto insurance claim will result in an increase in your premium for the following year.

    22. How does car insurance payments work?

    You have to pay a premium to keep your policy active. The company will send you a bill with due date and amount. You will be charged a service fee for the bill. You can go paperless to avoid the service charge. If you can’t make full premium payments then you can opt for monthly, quarterly or semi-annual payment modes. Some companies offer grace period to pay your premium. If the premium is not paid within the grace period then your policy will lapse.

    23. How are car insurance claims paid?

    An insurance adjuster will assess the damage of your car and estimate of the repairs will be submitted to the insurance company. In the case of a cashless garage, the company will pay the garage directly. Otherwise, the claim settlement amount will be mailed to you in the form of a cheque.

    24. How are car insurance rates calculated?

    Car insurance rates are determined based on data such as your age, gender, marital status, driving experience, driving history, geographical location, claims, mileage, and credit score.

    25. How does car insurance work after an accident?

    If you aren’t seriously injured, make note of the details of the accident. Seek medical help in the case of physical injuries to your body, co-passenger or third-party. File a police report. Contact your insurance provider, register a claim online or at the branch with a duly-filled claim form and the necessary documents to support your claim. The company will send an insurance adjuster to assess the damage and come up with an estimate of the repairs. After which, the company will follow up with the claim settlement which includes the excess you have to pay. The claim amount will be sent to you in the form of a cheque or paid to the garage directly in the case of cashless garage facility.

    26. How do car insurance companies make money?

    Insurance companies make money via strategic investment and risk management. The premiums paid by the policyholders are invested by the company in equity and money market instruments. Not every policyholder makes a claim, therefore it is a profit for the company if it doesn’t have to settle any claims.

    27. How to make car insurance claims?

    Contact your insurance provider, register a claim online or at the branch with a duly-filled claim form and necessary documents to support your claim. The company will follow up with the claim settlement which includes the excess you have to pay to obtain the claim.

    28 How do car insurance deductibles work?

    Deductibles is the amount of money you agree to pay in the case of a loss or damage. For example: If your proposed deductibles is Rs.5,000 and the cost of repairs is Rs.8,000. You will have to pay Rs.5,000 and the insurance company will pay the remaining Rs.3,000. Higher the deductibles, lower the premium.

    29. Are car insurance premiums going up?

    The IRDAI has proposed up to 50% hike in premium rates for car insurance from April 1st, 2017.

    30. Are car insurance claims public record?

    Your new insurance provider can obtain your insurance claim records from your previous insurance provider.

    31. Are car insurance claims taxable?

    As per Income Tax Act, 1961, car insurance claims are not taxable if the claim amount is obtained for damages caused due to riot, theft, floods, earthquakes, accidental fire or road accidents.

    32. Are car insurance payments tax deductible?

    Only if the car is used for business purpose will the car insurance premiums paid by you be tax deductible.

    33. Where do I get car insurance quotes?

    Car insurance quotes can be obtained online through the insurance company website.

    34. Where to check car insurance policies?

    You can check and compare car insurance policies on third-party websites like bankbazaar.com or the official websites of the insurance companies.

    35. Where is car insurance mandatory?

    As per the Motor Vehicle Act, 1988, a third-party insurance is mandatory for all running vehicles on Indian roads.

    36. What is an accident forgiveness option?

    After an at-fault accident, the accident forgiveness option ensures there is no increase in your insurance rate.

    37. Which car insurance companies are the best?

    ICICI Lombard, Bajaj Allianz, Reliance Car Insurance, Tata AIG, and Bharti AXA are some of the top car insurance providers in India.

    38. When does a car insurance policy expire?

    If your car insurance premium is not paid within the due date or provided grace period then your insurance policy will lapse. It’s advisable to renew your car insurance policy by making premium payments on time every year.

    39. Why do car insurance premiums increase every year?

    Car insurance costs rises every year depending on the company costs in policy distribution, loss in investment, fuel prices, etc. Your insurance premium can go up depending on the age and value of your car, your driving history, and the claims made.

    GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

    rated 4.0/5.0 by 1338 users

    Car Insurance Online from Motor Insurance Companies

    Insurance provider
    Third Party Cover
    Cashless Network Garages
    Incurred Claim Ratio*
    Special features
    Exclusions

    Smart Buying tips for your Car Insurance

    01
    Be an Add-on Smart Cookie

    Get complete information about the add-ons available to be integrated into your car insurance policy for additional coverage.

    02
    Renew On Time, Every Time

    Set reminders for your car insurance renewal dates so you never miss your policy's renewal date. The early bird always stands to benefit.

    03
    Avoid False Declarations

    False declarations will come back to haunt you. Your car insurance policy will lapse immediately if any incorrect information is found at any stage of your coverage period.

    04
    Discount for Security Features

    Some cars come with enhanced built-in security features such as anti-theft alarms, immobilizers and other systems that give potential thieves nightmares. With a low probability of theft, such cars can be insured for less premium. Note that only Automotive Research Association of India (ARAI) approved devices will fetch a 2.5% discount on your premium.

    Landing Previous Arrow

    Your premium for a Car insurance is determined by

    01
    Registration City

    The city where a vehicle is registered determines premiums. Cars in metropolitan cities have to pay higher premiums as the incidence of vehicle thefts and accidents is higher.

    02
    Make & Model

    Vehicle make and model and potential risk factors associated with it is a factor. For instance, some makes and models fare better in collisions than others so injuries to occupants and damage to the car would be less severe.

    03
    No Claim Bonus Percentage

    The insurance premium amount will always be less if you haven't made any claims before. The no-claim bonus percentage plays a major role in determining your premium amount. So think twice before scurrying to your insurer for a miniscule scratch or dent.

    04
    Type of Cover Taken

    Additional cushions you may consider such as cover for CNG/LPG kits, key replacement costs, road-side assistance etc. will increase your premium amount.

    Landing Previous Arrow

    Expert Tips For Cutting Your Car Insurance Costs

    01
    You Snooze, You Lose

    Always renew your motor insurance before the due date to avoid the inconveniences such as vehicle inspection as well a potential increase in premium cost.

    02
    Don't Sweat the Small Stuff

    Making small claims like dents and scratches will push up the premium amount when you renew it the following year and you will lose the no-claim bonus in the corresponding year.

    03
    The Net's Your Best Bet

    Buying car insurance online will save you a pretty penny in processing and distribution costs and could give you more discounts than a direct purchase.

    Landing Previous Arrow

    Read Car Insurance news or Enjoy it on the go Google Play

    • Motor Vehicle Act (Amendment) Bill to radically change fines and punishments for traffic

      The Motor Vehicle Act (Amendment) Bill 2017 is likely to be passed in the Rajya Sabha during the monsoon session. If implemented, the Bill will bring about a host of changes to the penalty for traffic offenses and a ten-fold increase in the compensation offered to minors and families.

      The Bill was passed in the Lok Sabha in April 2017.

      Key features of the Motor Vehicle Act (Amendment) Bill, 2017 are:

      • Aadhaar will be mandated for vehicle registration and for obtaining driving license.
      • For hit-and-run deaths, the government will offer a compensation of a minimum of Rs.2 lakh to the victim’s family. The compensation offered now is Rs.25,000.
      • When juveniles cause traffic violations, the owner of the vehicle or the guardian of the juvenile will be held responsible for the act, unless the offense was done without their knowledge. The juvenile will also face trial under the Juvenile Justice Act.
      • There will be no criminal liability for onlookers/witnesses who come forward to help in an accident scenario.
      • The drunk driving penalty will go up from Rs.2,000 to Rs.10,000.
      • Rash driving will attract penalty of up to Rs.5,000, a big difference from the current amount of Rs.1,000.
      • Driving without license will be charged Rs.5,000 as penalty. Currently, the fine is Rs.500.
      • Overspeeding fine will be between Rs.1,000 and Rs.2,000.
      • Driving without seatbelt will be charged Rs.1,000 as fine. The penalty levied now is Rs.100.

      21st July 2017

    • Transport ministry against Niti Aayog’s plan of allowing private cars to run as taxis

      The transport ministry has opposed Niti Aayog’s suggestion of allowing taxi aggregators to rope in private vehicles to increase car availability. The argument of the ministry is that commercial vehicles are registered as such and the Motor Vehicles Act prohibits the use of private cars for commercial purposes.

      A government official stated that the employment of taxi drivers would be endangered if private vehicles are introduced for the purpose. The official also mentioned that commercial vehicles are levied higher duties, permit charges, and insurance premiums than private cars. He further stated that legal aspects and safety of passengers should be kept in mind before implementing the proposal.

      Niti Aayog, an association chaired by the PM, has been looking to reduce car ownership in an attempt to curb traffic issues in metros. Their proposal could also dent car sales in the country, where the ownership ratio is already dismal.

      20th July 2017

    • Cost of Renault Kwid goes down after GST implementation

      The Goods and Services Tax (GST) implementation has brought down the costs of most cars in India. The price reduction is more prominent in cities like Mumbai where cars were levied higher taxes before GST.

      The Renault Kwid falls under the small car category, and it enjoys a significant price drop in Delhi and Mumbai. The pre and post GST prices of the Kwid have been tabulated below:

      Delhi Mumbai
      Variant Pre-GST cost Post-GST cost Difference Pre-GST cost Post-GST cost Difference
      STD Rs.2.64 lakh Rs.2.61 lakh Rs.3,000 Rs.2.98 lakh Rs2.71 lakh Rs.27,000
      Climber 1.0 AMT Rs.4.56 lakh Rs.4.49 lakh Rs.7,000 Rs.4.97 lakh Rs.4.55 lakh Rs.42,000

      From the table above, it is evident that the price drop of Kwid in Delhi is not as steep as that in Mumbai. However, the costs indicated above are the ex-showroom prices only. The on-road price of these vehicles would include other variables like registration cost, insurance premiums, etc. Since car insurance premiums have seen a hike post GST, the reduced ex-showroom price would be nullified by the rise in insurance cost.

      19th July 2017

    • New Skoda four-wheeler launched in India

      Skoda’s Octavia facelift has officially been launched in India and is priced at Rs.15.49 lakh to Rs.22.89 lakh (ex-showroom, India). The new car rolls out in three options – Style, Ambition, and Style Plus with eight various iterations which are based on transmission and engine options. The new Skoda Octavia comes with a new grille design with a split headlamp system which the company calls “Quadra”. The car runs on a 178bhp, 1.8 litre TSI engine which is mated into a 7-speed DSG gearbox. The car also comes with 4 airbags, EBD (electronic brake distribution), traction control, and ABS (anti-lock brakes). Insurance companies are rolling out new car insurance plans to help potential Octavia owners secure the safety of their car.

      18th July 2017

    • Hyundai have become the biggest gainers post GST

      According the director of Hyundai in India, said that Hyundai has emerged the biggest winner following the GST roll out amongst their competitors. Rakesh Srivastava, Director, Sales and Marketing, Hyundai Motor India, said that We have been one of the biggest gainers during the last month, as our market share grew to 19 per cent compared to 16.7 per cent in May. We have gained largely because we took proactive steps. We offered customers an opportunity to own a Hyundai car at the best price value by giving them year-end discounts (which actually happen during December) in June itself. He added by saying that in the post-GST implementation period, we believe there will be a unified seamless market with challenges of border stoppages of goods disappearing. We believe that logistics issues will be addressed, as goods movement will be faster and the costs, therefore, will come down. In addition, tax on tax has been withdrawn now. So, the prices are coming down, which means affordability will now be better for customers, especially for companies like ours that have products ranging from Rs. 3-30 lakh.

      17th July 2017

    • Beneficiaries of Car Insurance Get Relief from HC

      In a case against National Insurance Company which denied compensation payment in a motor vehicle accident case, the Bombay High Court at Goa held that an insurance policy becomes effective from the day the premium is paid by the vehicle owner, and not at a later date as stipulated by the policy document.

      The case in focus was a motor accident case for compensation, where the insurance company claimed that the policy effective from 15 June 2006, did not cover the accident which occurred at 8.45 p.m. on 14 June 2006. However, the owner of the vehicle made the insurance premium payment on 14 June 2006. The accident resulted had resulted in disability of the injured, and the Motor Accident Claim Tribunal (MACT) held that the NIC was not legally obliged to pay compensation, citing that the accident occurred before the policy was effective. The legal heirs of the vehicle owner filed a petition in HC against the MACT order to pay Rs.17 lakh compensation.

      The High Court noted that NIC had not obtained the policyholder’s express consent for the policy to come into effect from a future date. The HC judge observed that in absence of such consent, it can be assumed that the policy cover starts on effecting payment.

      The High Court has set aside the MACT order of payment of Rs.17 lakh by the private party, and returned the case to MACT to redetermine the insurance policy validity.

      14th July 2017

    • Luxury cars to get a lot more affordable post GST

      Following the GST roll out, prices for cars like Mercedes-Benz, BMW, Audi, and JLR are said to decline by 10% making it much more affordable for the middle class and working class in the country. Roland Folger, Managing Director at Mercedes-Benz, was quoted as saying that there may be teething issues but we are confident that there will be promising long-term gains. We are encouraged with the rising enquiries and increased footfall at our dealerships, and are confident of continuing with our positive growth momentum. He added by saying that as prices become more attractive and more people seek to own brands like ours, the market will surely expand. Despite the tough market, we grew by 6%. This year, we expect a double-digit growth.

      10th July 2017

    • Bajaj Auto sales go down by 23%

      Bajaj Auto has reported that there is a decrease of 23% in the total sales in June. It has dropped to 2,44,878 units. In the same month of 2016, the motorcycle manufacturer sold 3,16,969 units totally.

      The motorcycle sales of the company also dropped by 25% to 2,04,667 units. It was 2,73,298 in June 2016.

      The sales of the company’s commercial vehicles segment reduced by 8% from 43,671 units last year to 40,211 units this year.

      The exports of the organisation declined by 4% in the month of June from 1,23,252 units to 1,17,903 units.

      6th July 2017

    • Cost of Maruti Ciaz rises by Rs.1.5 lakh due to GST

      Goods and Service Tax (GST) has been implemented in India from July 1st onwards. As a result, GST on all hybrid cars is now 43%, which is 3 times more than the previous tax rate. Maruti Suzuki Ciaz and Ertiga are diesel variants that had been previously enjoying a boost in sales as they come under hybrid vehicles. Due to the impact of GST, costs of Ciaz and Ertiga are said to be up by Rs.1.5 lakh. Both these models are available in petrol and diesel variants. The cost of the petrol variant will not be affected by GST. Maruti may discontinue the diesel engine with Suzuki’s SHVS mild hybrid system and relaunch the diesel variant without the SHVS tech. Camry, Toyota Prius, Honda Accord, and BMW i8 are some of the other vehicles that will see a rise in cost due to GST.

      5th July 2017

    • CCars and SUVs cheaper with the Introduction of GST

      Prices of popular high-end cars are coming down with the onset of GST regime. However, hybrid cars are set to cost more with GST being levied.

      What GST does is that it brings a parity in tax across India, clearing the way for a 'one nation, one tax' tax regime. A major factor in the car prices coming down is the abolishing of Octroi with the new GST rate.

      Most automotive companies are planning to announce new prices for their products this Saturday, with the remaining joining them on Monday.

      Auto companies will have to make changes in their pricing mechanisms and software programming to factor in GST. The new rates will also impact manufacturing units and supply value-chain, like auto part manufacturers and dealers. Companies have to factor in all these to come to decide the final price of each car.

      Sedans and large SUVs are most likely to see maximum price reduction. Smaller cars, on the other hand will become marginally

      cheaper.

      4th July 2017

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