Car Insurance

To explain it with a rough analogy: your car’s VIN, chassis & engine number are for your car, what your Aadhaar, PAN and Passport number are for you! So, it goes without saying, all 3 of these numbers are very important. Not knowing where to find them is somewhat equivalent to not knowing where your identity proof documents are located, can you imagine that?! Keeping this in mind, the following article will tell you where you can find these important numbers in your vehicle – it should help when buying car insurance , filing a claim, and if you ever need to file an FIR. Not to mention, it’s good to know just for your general knowledge too! So let’s begin. 1. VIN VIN stands for Vehicle Identification Number, no awards for guessing that one! Your car’s VIN is unique, just like your fingerprint. It is made of 17 alpha-numeric characters and it is used to identify & keep records about your vehicle. It may also be required when buying a car insurance policy for your ca...

Getting involved in an accident not only means damage to your vehicle but it also means having to face a tricky financial situation. While a third-party insurance policy is mandatory, it does not cover damage to your vehicle. Moreover, in some cases, even a comprehensive car insurance plan may fail to assist you. The solution to this problem is creating a custom policy based on your requirements through motor insurance add-ons. When you buy car insurance online, you can choose add on covers to extend the coverage provided. However, with numerous nuances of add-on covers, it is easy to find yourself lost and making the wrong choice. Hence, here are 5 things you should know about motor insurance add-ons to understand them better: What are they? As the name suggests, motor insurance add-on covers are optional covers that can be purchased in addition to a basic car insurance policy. You can do so to enhance your policy’s coverage and enjoy exclusive benefits associate...

We all want to pay lower car insurance premiums! It’s one of the main reasons why motorists refrain from making a claim against their insurance policy - it helps them unlock no claim bonus which can reduce the annual cost of a policy by up to 50%. However, despite this, there might be occasions where our insurance premium increases, leading us to feel cheated! However, there might be some plausible reasons for this, let’s find out more! Rise in third party premiums. Right, if your car insurance has risen without you making a claim, this is probably the reason for it. The premium for thirdparty insurance is increased every year and this result in a higher premium on your car insurance policy. Why does this happen? Well, the IRDAI hikes the rates for third party premiums every year and insurance companies simply integrate these new rates into their plans. The IRDAI does this because every year new vehicles are added to Indian streets. This results in higher risks of an accident ...

Along with the growing percentage of vehicles in India, the importance of road safety has also increased. This is why getting motor insurance has been stressed up on; it keeps motor vehicle users protected from financial damages that might arise after an accident or mishap. Having a third party car insurance is regarded as a compulsory measure by the Law and using an uninsured vehicle is punishable. Motor insurances work as a tool when one is affected financially by an accident or other man-made or natural calamity. Essentially, insurance is taken to get a cover in times of vehicular damages. However, it is not always suggested to claim the insurance amount. It’s confusing but believe it or not, there are occasions when it is better not to make a claim against your insurance! Here are 3 of these occasions. 1.        In case of minor damages It goes without saying, accidents lead to vehicular damages. However, in many cases, the damages t...

It’s quite common for personal belongings to wind-up in the car.   Things like a laptop, tablets & reading devices are often used while traveling. It’s understandable given that most of us have long commutes and we might as well utilize this time get some work done or catch up on the latest shows. Wouldn’t it be devastating to find that your car has been stolen and with it, all these cherished personal belongings have also been lost? Well sure, your car insurance policy will provide compensation, but this will be limited to the car itself, not your personal belongings. The policy will pay the current IDV of your car or the on-road value of the vehicle (only if you have the return to invoice add-on), but you will not be reimbursed for your personal belongings. This where personal belongings add-on could help! Just because a standard comprehensive motor insurance plan does not cover the theft of your personal belongings, that doesn’t mean you cannot get cove...

PUC and motor insurance previously had nothing to do with each other. One could renew their vehicle insurance policy or make a claim against it without having a valid PUC. The only trouble you could get into was if you were pulled over by the police and did not have your PUC certificate. However, you could now face issues if you do not have a valid PUC when purchasing, renewing or filing a claiming on your motor insurance policy . Why is this so? Not too long ago, the Supreme Court of India had issued several directives to reduce the pollution caused by vehicular emissions. Among these directives was one that made a PUC certificate necessary for purchase and renewal of motor insurance. The IRDAI has now taken up this directive and informed all insurance companies to insist on valid PUC certificate on issuance & renewals of policies. What effect will this have? Experts think that since third party insurance is mandatory, the directive will ensure that motoris...