MOTOR INSURANCE
Protect yourself from financial loss due to accidents, theft, third-party damage, and natural calamities. As per the Motor Vehicles Act of 1988, motor insurance is mandatory in India.
Get Instant Quote
Up to 90% discount with work email ID
What Is Motor Insurance?
Motor Insurance is a legal agreement between a vehicle owner and an insurance company. The insurance company promises to cover the costs if any damage occurs to your vehicle that could lead to financial loss.
There are three different types of motor insurance policies: Third-Party Liability Insurance, Standalone Own-Damage (OD) Insurance, and Comprehensive Insurance. It's important to renew your policy on time to keep enjoying the benefits of your chosen coverage.
Why do you need Motor Insurance?
Legal Compliance
Motor insurance helps you comply with the law as it is mandatory for vehicle owners in India to have at least third-party insurance.
Financial Protection
A motor insurance policy protects you from huge expenses incurred due to damages and losses caused during accidents, natural calamities, fire, theft and other unforeseen circumstances.
Third-Party Liability
In case you accidentally hit someone or property, your insurance will cover the damages and losses incurred to the third-party.
Own-Damage Protection
Covers expenses for your own vehicle incurred in road accidents, natural calamities, man-made disasters, fire, explosion, vandalism, etc.
Theft Coverage
Covers you in case your vehicle gets stolen. Your insurance company provides you with your vehicle's Insured Declared Value (IDV) as compensation.
Personal Accident Cover
Offers personal accident cover of up to ₹15 Lakh in case of death, bodily injuries, or disability of the policyholder in an accident.
Key Features of Motor Insurance Policy
| Highlights | Benefits |
|---|---|
| Third-Party Cover | Coverage for third-party injury and property damage. |
| Own Damage Cover | Covers the damage and loss incurred by the insured vehicle. |
| Customizable Add-on Covers | Various add-ons available such as zero depreciation cover, return to invoice cover, roadside assistance, etc. |
| Compulsory Personal Accident (PA) cover | Cover of ₹15 lakh for permanent disability/death while driving. |
| Cashless Claim | Available at the network garages of the insurer. |
| No Claim Bonus | Up to 50% |
Types of Motor Insurance Policies
Third-party Liability
Mandatory for driving in India. Covers costs of bodily injury, disability, or death of a third party and property damage.
Comprehensive Insurance
Most extensive coverage including third-party liability and damages to your own vehicle from accidents, theft, natural disasters, etc.
Own Damage Insurance
Standalone policy covering damages to your own vehicle. Can be purchased only with an active third-party policy.
Benefits of Insuraksha's Motor Insurance
When it comes to safeguarding your vehicle, Insuraksha's Motor Insurance stands out as a leading choice, offering advantages that go beyond conventional coverage.
Up to 85% discount on premiums
Saving on your insurance premium is now easier than ever with Insuraksha. Enjoy a remarkable up to 85% discount on premiums.
Cashless claims at 7500+ network garages
Access to a vast network of over 7500+ cashless claim garages, making the claims process smoother and more convenient.
No paperwork required
Streamlined insurance experience by eliminating paperwork, enabling you to complete the process efficiently.
Right insurance at best price
Providing you with not just the cheapest insurance, but the right insurance that perfectly aligns with your needs.
Best-in-class claim assistance
Team of experienced and dedicated claims experts committed to ensuring that your claims are managed effortlessly.
AI-based recommendation
Meet Mitra, your AI-powered advisor with friendly guidance and AI-driven recommendations tailored to your requirements.
What is Covered vs What is Not Covered
✓ What is Covered
- Third-party injury and property damage
- Own damage due to accidents
- Damages from natural calamities
- Fire, explosion, and vandalism
- Theft of the vehicle
- Personal accident cover (up to ₹15 lakh)
✗ What is Not Covered
- Driving without valid license
- Driving under influence of alcohol/drugs
- Normal wear and tear
- Mechanical or electrical breakdown
- War, nuclear risks, or terrorism
- Using private vehicle for commercial purposes
Add-on Covers in Motor Insurance Policy
Add-on covers are extra benefits that you can add to your motor insurance policy to increase your protection. Here are some options you can choose from:
Zero Depreciation Cover
Recover the deducted cost of depreciation on your vehicle's parts when you make a claim for damages.
Return to Invoice
Cover the difference between the purchase price and compensation amount in case of total damage or theft.
Engine Protection Cover
Safeguards your vehicle's engine and covers the cost of repairing or replacing it in case of damage.
Roadside Assistance
24/7 breakdown assistance including towing, fueling, and mechanic services.
Key Replacement
Covers the cost of repairing or replacing your keys and locks if they are damaged or lost.
Personal Accident Cover for Passengers
Covers passengers in your vehicle in case of accidents leading to permanent disability or death.
How to Buy Motor Insurance Online
Enter Vehicle Details
Provide your registration number and basic vehicle information.
Compare Plans
Compare different insurance plans and choose the best one for your needs.
Customize Coverage
Select add-ons and customize your coverage based on your requirements.
Make Payment
Pay online securely and receive your policy instantly via email.
How to File a Motor Insurance Claim?
It's important to know the right steps to take when making a motor insurance claim. Follow these steps to make a valid claim:
Report the Claim
Inform your insurer immediately after the accident and provide proper documentation and photographic evidence.
Inspection
Once registered, an insurer's surveyor will inspect the damage and you'll need to provide necessary documents.
Repair
After inspection, you can send your vehicle to a network garage for repairs.
Settlement
For cashless claims, the insurer settles bills directly with the garage. For reimbursement, pay first then claim.
Factors Affecting Motor Insurance Premium
Motor insurance premiums are determined by various factors that assess the risk associated with the policy holder:
Vehicle-Related Factors
- Vehicle type, make, and model
- Age of the vehicle
- Engine cubic capacity
- Insured Declared Value (IDV)
- Anti-theft and safety features
Personal & Policy Factors
- Geographical location (RTO)
- Driving history and experience
- No Claim Bonus (NCB)
- Policy type and coverage
- Add-ons and voluntary deductibles
How to Reduce Motor Insurance Premium
While motor insurance provides essential protection, you can reduce your premium without compromising on coverage:
Compare Policies
Look for policies that provide comprehensive coverage at competitive rates using online comparison tools.
Opt for Voluntary Deductibles
Agreeing to pay a higher deductible amount can significantly lower your premium.
Install Security Features
Anti-theft alarms, immobilizers, and GPS tracking can earn you discounts.
Maintain Clean Driving Record
Avoiding accidents and violations can lead to significant NCB discounts.
Renew Online Timely
Online renewals often come with discounts and help maintain your NCB benefits.
Choose Right Coverage
Assess your needs and avoid paying for unnecessary coverage while ensuring adequate protection.