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For assistance with claim related queries in the CYCLONE affected regions of Tamil Nadu, Andhra Pradesh, and Kerala, please click here

Product Information

1. How will your premium be decided?

The car insurance premium is dependent on several factors:

  • Car owner – Factors such as age, claim history, residential location etc. affects the car premium.
  • Age: With age, the car's value decreases. Thus, the car insurance premium amount decreases with increasing age.
  • Car make and model – The vehicle policy premium is directly dependent on Insured Declared Value (IDV) which, in simple terms, is the current market value of the vehicle. For instance, SUVs and diesel cars attract a higher premium amount than others.
  • Purpose of the vehicle: If you use the car for commercial reasons, you will need to pay a higher premium amount.
  • Degree of Coverage: The extent of car ​insurance​ coverage impacts the premium. If you avail higher coverage such as add-on covers, your premium increases.
  • Safety features and systems: Safety mechanisms such as airbags and anti-theft devices approved by Automobile Research Association of India (ARAI) help to reduce the premium

2. What is IDV?

The IDV (Insured Declared Value) of the car is a crucial component of the car insurance policy. It is something that has a direct impact on the car insurance premium. Basically, the IDV is the current monetary valuation of the car upon which the insurance coverage is offered.   In simple terms, it is the current market value of the car taking depreciation into consideration for the purpose of insurance. Additionally, the IDV is deemed as the 'Sum Insured' which is fixed during the commencement of the car policy period.

Have a look at this video for more details! Click here -

3. What is No Claim Bonus?

With the help of a 'No Claim Bonus' (NCB), you can avail a discount in the car premium. You are entitled to an NCB if you don't register a claim during the previous car policy period. This discount can reduce the premium on your car insurance buy up to 50%.

Have a look at this video for more details! Click here-

4. How will a Zero Depreciation Cover Help me?

A car insurance with zero depreciation cover helps protect your car against all physical damages caused to the car without factoring in the element of depreciation. With a zero dep cover (also referred to as "nil-dep"), the entire claim amount is paid by the Car Insurance Company without considering any depreciation sum.​

5. What is OD premium and what does it cover?

We've tried to cover all the basic elements in our motor vehicle insurance policy, so if your car is damaged due to any of the following reasons, or lost, we have it covered!

  • ​ Accident
  • Fire
  • Lightening
  • Self-Ignition
  • Explosion
  • Theft
  • Riot & Strikes and / or Malicious Acts
  • Terrorism
  • Earthquake
  • Flood
  • Cyclone
  • Inundation
  • Transit by Rail, Road, Air & Elevator​
  • Have a look at this video for more details-

6. What are Voluntary Deductibles?

Voluntary deductible is an amount that you agree to pay towards a claim (in addition to the compulsory deductible) before the insurance company picks up the balance. It is a fixed and minimum amount that you declare to pay when you make a claim. This amount is inversely proportional to your premium. The higher your Voluntary Deductible amount, the lower is your automobile insurance premium.

For example, if your claim amount is Rs. 20,000 and the voluntary deductible is Rs. 3,000 then you have to bear the first Rs. 3,000 and the claim will be worth Rs.17,000. We will award you with a suitable discount.