Motor Insurance

A motor insurance policy is compulsory for all vehicles, including personal and commercial vehicles that ply on Indian roads under the Motor Vehicle Act, 1988. The policy covers the financial losses incurred to the insured vehicle, in accidents, to the third-party or his vehicle and property. It also protects the insured and their vehicle against ‘own-damage’ caused by natural or man-made calamities.

Keeps you legally compliant: Motor insurance keeps you legally compliant according to the Indian Motor Tariff. It is mandatory to have at least a third-party motor insurance policy to ply on the road, without which you can be charged a fine or imprisoned.

Covers you against third-party liability: This type of insurance covers you against the legal liabilities that arise in case of loss/damage caused by the insured vehicle to a third person’s body or property.

Covers you for your own-damage: Damages to ]the insured’s vehicle due to an accident, natural calamities, man-made disasters, fire, defacement, etc. are covered under stand-alone own-damage as well as comprehensive motor insurance plans.

Personal accident (PA) cover: PA cover with a motor insurance policy will pay you for the compensation in case of bodily injuries, death, or any permanent disability arising due to an accident.

Enhanced coverage: You can enhance your coverage by choosing any add-ons like zero depreciation, engine protection, roadside assistance, etc.

No-claim bonus: During the tenure of the motor insurance, if no claims have been made, then the insured is eligible for a ‘no-claim bonus’ on renewal of the policy. Get a no-claim bonus benefit ranging between 20%-50%.

Other discounts: Get a discount for installation of anti-theft device, voluntary deductibles, and Automobile Association of India membership

Cashless repairs: You can select the network garages of your nearest location listed on the Mahindra Paybima website to avail of cashless benefits. Easy reimbursement: Reimbursement refers to when the insured pays for the repair cost and later can claim the bill from the insurance company.

Motor insurance is a plan that covers vehicles against any costs incurred due to physical damage or loss and theft of a vehicle. Some features include:

Easy online plan purchase and renewals: You can opt for motor insurance purchase and renewal online, from the comfort of your home. You can also opt for assistance from our certified insurance advisor at any point.

Transparent claims process: The claim process is displayed at the time of policy purchase. Both cashless and reimbursement claim processes can be carried out smoothly.

Flexibility of coverage: Choose from stand-alone third-party, comprehensive or stand-alone own-damage cover for your vehicle as per your need.

Improved coverage: When you choose a comprehensive coverage or stand-alone own-damage cover, you can improve the coverage by choosing from add-ons like engine protection, zero depreciation, consumables, key replacement, etc.

Motor insurance is a plan that covers vehicles against any costs incurred due to physical damage to or by the insured vehicle or loss and theft of a vehicle.

• Stand-alone third-party insurance (SATP)
• Comprehensive insurance
• Pay-as-you-drive insurance
• Stand-alone own-damage insurance (SAOD)
• Long-term liability cover
• Bundled plan

Auto insurance is a mandatory cover that is needed when you drive your vehicle on the road. Besides being a mandatory cover, a two-wheeler insurance policy covers expenses related to damage/loss to a third-party and own-damage/loss for vehicles, individuals and property. You can choose a comprehensive plan, a stand-alone third-party insurance plan or a stand-alone own-damage cover as per your need.

Auto insurance is required to protect your vehicle against any unforeseen liabilities

Below are the types of insurance:

• Third-party insurance
• Comprehensive Insurance
• Pay as you drive insurance

Third-party insurance is legally mandatory in India and covers damages or injuries you cause to others. Comprehensive insurance goes a step further by also covering damage to your own vehicle. For broader protection, opt for a comprehensive policy that includes both third-party and own damage cover.

Your premium depends on various factors, such as the vehicle’s age, make, engine capacity, Insured Declared Value (IDV), and previous claim history. Comprehensive motor insurance is priced higher than third-party plans as it offers wider protection. Adding add-on covers will increase the overall premium.

A comprehensive motor insurance policy includes third-party liability and own damage cover. It protects your vehicle from damages due to accidents, fire, theft, natural calamities, and vandalism.

Own damage cover provides protection against loss or damage to your insured vehicle caused by accidents, theft, natural disasters, or fire. It’s an important component of comprehensive car insurance and helps reduce out-of-pocket expenses in case of a mishap.

No Claim Bonus is a reward for not filing any claims during your policy period. It can lower your renewal premium by up to 50% over time. The No Claim Bonus (NCB) is applicable only on the own damage component, and you can carry it forward when you purchase a new vehicle.

Yes, you can make the switch and retain your NCB. You’ll need to show proof of your existing bonus, such as the renewal notice or a declaration that you haven’t filed any claims in the previous year.

A bundled motor insurance policy combines extended third-party liability coverage - 3 years for private cars and 5 years for two-wheelers - with one year of own damage (OD) protection. After the initial year, you only need to renew the OD portion annually, while the third-party coverage remains valid for its full term.

Add-ons are optional benefits you can purchase with your base policy. Popular add-ons include Zero Depreciation, Engine Protection, Roadside Assistance, and Return to Invoice.

Yes, as per IRDAI guidelines, a valid PUC certificate is mandatory at the time of motor insurance renewal. Without it, insurers may reject your renewal application.

You’ll need your insurance policy, registration certificate (RC), filled-in claim form, repair estimates, final repair invoice, and FIR (if required). For theft claims, additional documents like keys and a non-traceable certificate are needed.

Vehicle insurance can be transferred to the new owner by notifying the insurer in writing within 14 days of ownership transfer. The new owner must submit a proposal form and pay any applicable charges. Note: NCB is not transferable to the new owner.

No. The new owner's name and details must be reflected in the policy. Driving with mismatched RC and policy details will lead to claim rejections. Apply for a policy transfer immediately after purchase.

Yes, GST is applicable on motor insurance policies as per prevailing tax laws. The current rate is 18% and applies to third-party and comprehensive policies.

Discounts are available for No Claim Bonus, installation of anti-theft devices, and opting for voluntary deductibles. Some insurers also offer special concessions for vintage cars and specially designed vehicles.

You must inform both the RTO and your insurer about the modification. The insurer will update your policy and may charge an additional premium to cover the kit under both own damage and third-party liability.