Also known as the “Diamond City”, Surat is the country’s largest centre of man-made fibre production and diamond cutting. Thriving industries, advanced infrastructure, smart city initiatives and a robust road network have made this city one of the fastest-growing cities in the country.
However, rapid development has led to a significant rise in the number of vehicles on the roads. This has resulted in increased traffic congestion, overcrowding and a higher risk of road accidents. As a result, having car insurance has become a necessity for every vehicle owner.
Read on to discover everything you need to know about car insurance in Surat, including features, types, benefits and more.
Features of car insurance
The features of car insurance that make it a much-needed lifeline are:
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Feature
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Details
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Affordable premiums and financial protection
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Car insurance in Surat features affordable monthly premiums. These premiums translate into high returns during unforeseen events, such as accidents, theft, damage and more.
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Cashless repairs
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Insurers in Surat have a network of authorised garages. You can avail of cashless services at any of these garages. The insure settles the bill with the garage without you having to pay upfront.
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Insured Declared Value (IDV)
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IDV is the maximum amount your insurer will pay in case of total loss or theft of your vehicle. It reflects the current market value of your car.
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Personalisation through add-ons
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Some useful add-ons that can provide extensive protection are Zero Depreciation Cover, Engine Protection Cover, Roadside Assistance Cover and Return to Invoice Cover.
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No Claim Bonus (NCB)
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To encourage responsible driving, a discount is given on the premium for claim-free years. This can go up to 50 % after consecutive years.
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Digital access
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To ensure seamless access, insurers offer online policy purchase, renewal, claim tracking and document access through apps or websites.
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Types of car insurance policies in Surat
The key types of car insurance policies available in Surat are:
- Third party car insurance: Mandated by law under the Motor Vehicles Act, this basic protection covers injury, death or property damage caused to a third party in an accident involving your car. It is important to note that this does not cover damage to your car.
- Own Damage (OD) car insurance: This policy only covers damage to your vehicle and not any third party liabilities. This can only be acquired after obtaining a third party car insurance policy.
- Comprehensive car insurance: This policy combines third party and own damage cover to provide broad coverage. It covers loss or damage due to accidents, fire, theft, natural disasters and man-made incidents. You can also include add-ons in this policy.
Benefits of car insurance policies in Surat
While the specifics vary depending on the type of policy and add-ons included, a typical comprehensive car insurance policy offers the following benefits:
- Financial protection: In the event of unforeseen circumstances such as accidents, theft, natural disasters and other unexpected events, a four-wheeler insurance policy serves as a vital safety net. An appropriate policy covers the cost of treatment, repairs and damage.
- Legal compliance: Third party car insurance is mandatory under the Motor Vehicle Act. Failure to comply can result in fines, imprisonment and even legal proceedings.
- Personalisation options: You can choose an insurance policy that best suits your specific needs. To enhance your coverage, consider opting for add-ons that customise the policy to match your exact requirements. Some valuable add-ons include Zero Depreciation Cover, No Claim Bonus (NCB) Protection and Consumables Cover.
- Long-term peace of mind: Knowing that you're covered on the road against accidents, damage, theft, natural disasters (like earthquakes), man-made incidents (such as vandalism), legal liabilities and hefty medical expenses offers long-term peace of mind.
Coverage offered under car insurance in Surat
Coverage varies depending on the selected policy and customisation. However, a robust, comprehensive car insurance policy provides coverage against the following:
- Accidental damage to your own vehicle
- Personal accident cover for the owner-driver
- Third-party injury, death or property damage
- Theft or total loss of the vehicle
- Damage due to natural disasters (floods, earthquakes, storms)
- Damage due to man-made events (riots, strikes, vandalism)
- Fire damage
- Optional add-ons like Zero Depreciation, Engine Protection and NCB Protection
How to buy car insurance online in Surat?
Modern insurers have made acquiring car insurance online seamless, easy to navigate and fairly simple for all ages. To obtain car insurance in Surat, follow these steps:
- You must begin with a thorough analysis of insurers. Compare their claim settlement ratio, market reputation, pending claims, solvency ratio and more before selecting an insurer.
- Once selected, navigate to the insure’s website or app and select the “Car Insurance” section.
- Select your chosen policy. Analyse the terms and conditions, premium, coverage offered, claims process, exclusions and deductibles.
- Provide all relevant car details such as make, model, year of manufacture and registration number for an accurate assessment. Customise the coverage as needed.
- When satisfied, provide personal information and proceed to payments. Complete the payment through your chosen method of payment.
- After the premium has been paid, download the policy documents for future reference.
Conclusion
Car insurance in Surat is a key aspect of responsible driving and vehicle ownership. Prioritising broad coverage ensures financial protection and offers peace of mind. Before choosing a policy, it's important to evaluate all its features and benefits carefully.
Remember to pay your premiums on time, follow the correct claim procedures and renew your policy before it expires to stay continuously protected.
FAQs
- Can I transfer my car insurance if I sell my car?
Yes, the existing car insurance can be transferred to the new owner. You must notify the insurer and complete the transfer within 14 days of selling the car.
- What happens if I forget to renew my car insurance on time?
While most insurers offer a grace period, failure to renew the policy can have adverse consequences. Your policy will lapse, leaving you without coverage. You may lose accumulated NCB and face penalties if caught driving uninsured.
- How is the car insurance premium calculated?
The four-wheeler insurance premium depends on factors like vehicle type, IDV, location, coverage type, add-ons and previous claims.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.