Bharti AXA General Insurance is now part of ICICI Lombard General Insurance.

Bharti AXA General Insurance is now part of ICICI Lombard General Insurance.

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  • The Future of Car Insurance - Digital, Predictive and Usage Based

    by nikesh lakhani | Aug 17, 2021

    Usage-based insurance has the potential to radically change the insurance industry

    Car insurance now sold by general insurance companies in India is one-size-fits-all product. It does not differentiate between driving patterns that range from high risk to low risk. The time has come for insurance companies to hop onto telematics-driven, usage-based insurance.

    You would have heard of investigators searching for the black box after every aircraft crash. The black box records all the technical and voice data while the aircraft is in flight. That piece of instrument is key to demystifying every crash or accident involving an aircraft.

    In usage-based insurance, a similar mechanism is installed in a car to record braking history, acceleration pattern, time of the day a vehicle is driven, the road taken etc. The big difference, when compared with the black box in an aircraft, is that the car driving history is not just recorded but through use of telematics is relayed live to the insurance company.

    In the near future, a car bought in India will come with a black box, on-board sensors, a dongle or a mobile phone app, and internet connectivity that would make it a connected car -- the car connected to other devices at home, office, other cars, and your insurance company.

    What is Usage-based Insurance?

    Usage-based car insurance made a debut about a decade ago in Europe and North America. Driving information is accessed online or on apps, which allows customers to monitor their driving patterns and improve their driving habits to earn discounts on insurance premium. Insurance companies offer mileage-based, and driving habits-related discounts.

    Usage-based insurance is alternatively called Pay As You Drive (PAYD) and Pay How You Drive (PHYD). All the data that telematics will transmit to insurance companies will power greater data analytics and offer driver’s insurance options such as Manage How You Drive (MHYD). The number of drivers in the US and Europe opting for usage-based insurance is estimated to touch 100 million by 2020.

    Car owners are likely to opt for usage-based insurance as it not only offers lower premium for low-risk driving, but it will also encourage safe driving and prevent high number of deaths due to road accidents.

  • Five Reasons Why Car Insurance Claims Get Rejected

    by nikesh lakhani | Aug 17, 2021

    A car accident is one of the worst nightmares of any car owner, as it brings with it monetary damages and a lot of stress. Thanks to the Motor Vehicles Act, 1988, car insurance is mandatory in India and most of the expenses are taken care of by the insurance companies. However, in many instances vehicle owners find their motor insurance claims rejected and are left high & dry, bearing huge expenses out of their own pockets.

    Auto insurance providers have often been criticised for rejecting claims to avoid a hefty payout. However, that’s not the case always! A lot of car insurance claims are rejected due to negligence and mistakes of the policy owners.

    Here are a few important oversights (intentional & unintentional) that can lead to motor insurance claim rejection:

    • Driving under the influence (DUI)

    • Driving Under the Influence or DUI can drag you into a world of trouble as it is not only a reason for car insurance claim rejection but also a prosecutable crime. Be it alcohol or banned/controlled substances, any indication of their use while driving leads to instant rejection of your motor insurance claim. Besides the claim rejection, you might even find yourself facing a lot of legal heat leading to fines, imprisonment or even both. Bottom line: “Don’t Drink & Drive!”

    • Driving without a valid driving licence

    • Driving without a valid license is a punishable offence and can lead car insurance claim rejection straightaway. In case of an accident, you won’t even be able to raise a claim with your insurance provider if you’re found without a proper driving license. Not only you will lose out on the motor insurance claim but also likely to be fined a minimum of ₹5,000.

    • Delay in reporting the accident

    • An intimation to the car insurance service provider at the earliest is the best thing to do when filing for claims. Most insurance companies offer a grace period for the reporting process, but it’s always better to intimate the company ASAP. Delay in the accident reporting leads to a more complicated car insurance claim settlement process and often results in 100% claim rejection as well.

    • Policy in someone else’s name

    • In numerous cases, drivers are often found with car insurance policy papers in someone else’s name. Although a few drivers turn out to have done so intentionally, many are found to be simply careless or forgetful.

      This primarily happens in the case of used or second-hand cars. Ensure that you transfer the existing car insurance policy as well as the registration certificate (RC) in case of second-hand cars. In the event of a car accident, the insurance provider reserves the right to reject your auto insurance claim if your name is different on the policy papers.

    • Use of vehicle beyond the geographical limitations

    • The Insurance Regulatory & Development Authority (IRDA) has divided the metro cities and other Indian regions into two separate zones to make it easy for policy owners to file for a claim.

      Zone A is for the metros and Zone B for the rest of the country. Depending upon the zone covered under your car insurance policy, you are entitled to make a motor insurance claim in that particular zone.

      However, if an accident takes place in the non-covered zone, then your insurance claim is liable for rejection. For example, if the accident occurs on foreign soil, such as the Maldives, Sri Lanka or Pakistan, then your auto insurance claim will be rejected.

    • General wear and tear

      Your vehicle is bound to experience wear and tear over time with continuous use. While this is inevitable, it’s still not covered by your car insurance.. Even if you have opted for a comprehensive car insurance policy, any motor insurance claim against wear and tear is bound to get rejected.

  • Maximise Your Car Mileage with These 7 Tips

    by nikesh lakhani | Aug 17, 2021

    Driving a car in a highly-populated city teeming with traffic is not easy. But it does more than just waste time and cause inconvenience, it also affects your car’s mileage and efficiency, which in turn raises your fuel bills. Here are a few simple and effective tips to maximise your car’s mileage.

    Keep Your Tyres Inflated

    Not only do properly inflated tyres reduce fuel consumption, they also increase the efficiency by 5 percent. You should get your car tyres inflated regularly and once in fifteen days is an ideal interval. However, overinflated tyres are just as bad as under-inflated ones, and thus you should stick to the manufacturer recommended levels.

    Maintain the Speed Limit

    Maintaining a steady speed limit between 45–55km/h is recommended not only for your safety, but also for saving on fuel consumption. By maintaining a steady speed limit and going easy on the throttle, you will see a rise in the fuel efficiency of your car by around 20 percent.

    Lose the Weight

    The amount of things you store in your car has a direct effect on its mileage and fuel efficiency. So get rid of the child safety seat you don’t need anymore, that worn out spare tyre and all the junk you’ve stored in the trunk. Drive around baggage-free at least while within city limits.

    Roll Up the Windows

    At high speeds you should roll up your windows. Even partially open windows at high speeds can impact fuel efficiency by increasing the drag and resulting in rapid fuel consumption. Opposed to popular belief, rolling up your windows and switching on the air conditioner at higher speeds will help you save fuel.

    Plan a Smart Route

    Before you start your trip, take 2 minutes to check the maps and plan your route. This will not only be beneficial for your mileage but will also save you from the chaos of traffic and congestion; your left foot will thank you too.

    Turn the Engine Off

    When you keep your engine on while your car is static, you are just burning fuel. Whenever you have to stay in one place for over 3 minutes, whether it’s at a signal or waiting for someone, turn off your engine. However, if you think the wait is going to be short, don’t turn the engine off as starting it back on will only consume more fuel.

  • Monsoon car maintenance guide: Tips to keep car repairing expenses at bay

    by nikesh lakhani | Aug 17, 2021

    How many times has it happened that it began pouring and your car didn’t demand to see a mechanic for repairs? Come monsoon; cars tend to need some kind of repairing or the other, thereby, making you shell out quite a bit on them. But, did you know that timely car servicing coupled with some car maintenance tips can actually help you avoid some of these expenses? Take notes as we compile them below to get your car monsoon ready!

    1. Examine your car tyres

    Check them for any signs of wear out. Today, most of the car tyres come with tread-wear indicators, and if those on your car tyre wear out, it’s time for you to have them replaced. Tyres with good tread depths are important in avoiding oversteer. They let you have a firmer grip on roads, helping you stay secured against aquaplaning when you come across potholes or spilt oil mixed with water while driving.

    While you may keep a spare tyre handy, it is important to check the condition of the spare tyre as well. Look for any punctures and check the air pressure.

    2. Check the wipers and their washer tank

    Wiper blades do the crucial job of wiping the water away from the windshield during rains. But they are usually not used for most of the year, making dirt and grime to accumulate on them. Plus, the summer sun can be harsh on them, causing them to wear out. So check for their proper functioning, and give the blades a proper cleaning with soap water. If you find that the blades have worn out, get them replaced. Also, if the washer liquid has run down, refill using a washer liquid solution or soap water.

    3. Insulate the wires and check the electricals

    If there is one thing that reacts adversely to rain than mechanical parts, then it’s electricals. Make sure that all the wiring is well insulated and is in proper working condition. If you find any loose wires, connect them firmly together. Check for other electrical systems like fuses and lights. Replace the non-functioning ones. Also, it is utterly necessary that especially the battery is in peak working condition because during monsoons headlamps, wipers etc. are all being utilised to their full potential, causing it to drain out too soon.

    4. Test the brakes and check the brake fluids

    Brakes are very important in the rains because of the slippery nature of roads. Check the brake fluid to see that it is at the required level, if not, then you’ll have to top it up. Go to a workshop to get the brake pads and discs checked. If the pads are worn out, they won’t provide enough braking power.

    Same goes for the disc; a glance can tell you if it is okay or not. If the disc has a very shiny or glazed look, then it needs to be replaced, as the pads will not be able to slow down the car due to lack of friction.

    5. Clean the air filter

    Your car’s air filter aids your car’s engine to function uninterruptedly. But in the monsoon, due to high humidity level and more dust, the air filter has to put in extra effort in supplying your car engine with pure air. So make sure you clean the air filter in your car and check it for proper functioning beforehand.

    While the air filter is one way of protecting the car’s engine, yet another is to secure it with the Engine Protect add-on cover of our Car Insurance policy. It will have your back for any consequential loss to your car’s engine. It will also compensate for the loss arising out of water ingression, engine damage due to oil leakage and gearbox failure. Thus, going out of its way to protect your car’s engine and keeping you from spending on costly car engine repairs.

    Also read:  How to maintain your car’s health during the lockdown

  • ICICI Lombard Launches Mobile Self-inspection for Cars

    by nikesh lakhani | Aug 16, 2021

    Customer ease is always the top priority at ICICI Lombard. As part of this effort, ICICI Lombard has launched a facility called ‘Mobile Self Inspection’ that eliminates the need for physical inspection of cars.

    ICICI Lombard customers can now record a video of their car on their mobile phones as per the guidance provided in the ‘Insure’ app. This facility saves customers the hassle of having to wait for a surveyor to visit and carry out the physical inspection.

    Quick and Easy Renewal

    Inspection is mandatory when a motor insurance policy lapses and it causes delay in issuance of renewed policy. Normally, the insurer initiates a process called ‘Break-In’ when a customer applies for renewal of a lapsed policy. In this process, an inspection by authorised surveyors is carried out and the policy is issued based on satisfactory inspection.

    However, with the ‘Mobile Self Inspection’ feature, the time taken for renewal of lapsed policy reduces to a few hours from 2-3 days. This feature has made renewal of lapsed policy an easy-going and stress-free process for customers. Customers of other insurance companies who want to make a shift to ICICI Lombard can also use this feature.

    Uploading a Video is Really Simple

    For using the ‘Mobile Self Inspection’, a customer needs to have an internet connection; mobile phone with 3 MP or above camera resolution and the video of the car must be recorded in broad daylight. The app also contains a demo video for step-by-step guidance of the ‘Mobile Self Inspection’ process. After making payment for renewal of policy, the customer is prompted to upload the self-inspection video via the mobile app.

    The video will be approved as per ICICI Lombard’s underwriting guidelines and after which the policy is generated within a few hours. If the video is found to be unclear, it can be discarded and self-inspection can be recorded again. After uploading the video, the status can be checked in the ‘My Policy’ section on the website or in the App.

  • #NotFAQs: The what, why and how of a Vehicle Identification Number

    by Santosh Kevale | Apr 27, 2021

    If you’ve ever bought motor insurance, you’re likely to have come across the terms Vehicle Identification Number or VIN and chassis number. You must wonder why insurance companies insist on having this information. That’s because VIN is like a genetic identifier for your car. Think of it as the vehicular equivalent of a thumbprint.

    What is a VIN or chassis number?

    Vehicle identification number or VIN is a set of 17 characters that are unique to the vehicle, like a vehicle’s unique identity code. Yes, it is used interchangeably with chassis number because it’s stamped to the chassis of the vehicle, although strictly speaking, chassis number is part of VIN. If you locate VIN, you can identify the chassis number.

    Issuing a VIN to every vehicle is standard practice across the world. It helps to mark out every vehicle whether commercial or private, make, model, manufacturer and year.

    But why 17?

    The alphanumerical sequence actually denotes important information. The several components of VIN are described below to help you understand your vehicle better. Please note that this is a generic break-up that is followed by most manufacturers.

    The first three characters in the VIN are referred to as WMN and symbolize the country of origin and the manufacturer. The first character reveals the country where the vehicle was built. The next two characters reveals the manufacturer.

    #DidYouKnow – The Society of Automotive Engineers in the USA assigns WMIs to countries and manufacturers. For India the WMIs are MA-ME & MZ. The Bureau of Indian Standards receives the WMIs from SAE and allots them to Indian vehicle manufacturers.

    Vehicle Description Section

    The next six alphanumerical sequences are the key to your vehicle’s details. The VDS also varies from manufacturer to manufacturer.

    • The 4th character tells you the vehicle type; whether it’s a scooter or a sports bike and so forth.
    • The 5th character stands for engine movement or the power range of the engine.
    • The 6th character tells you the type of engine that runs your vehicle. For e.g. whether it is a double strike or single stroke engine.
    • The 7th character shows the sequence of design.
    • The 8th character denotes the vehicle version.
    • The 9th number is a check digit to maintain VIN accuracy.
    • The 10th character helps to identify the year of manufacture of the vehicle.
    • The 11th character identifies the plant where the vehicle was manufactured.

    The character from 12th to 17th is the vehicle’s serial number or chassis number.

    Got it! But where in my car is it stamped?

    This differs from vehicle to vehicle but it’s usually to be found in the following places:

    • On the door frame of the front doors. Mostly it’s the driver’s side but could also be stamped on the passenger side.
    • On the dashboard near the windshield.
    • On the steering wheel or the steering column.
    • In the inner wheel arch towards the left hand side.
    • Radiator support bracket.
    • On the car’s registration papers.

    And where can I find the Vehicle Identification Number on a bike?

    As in a car, in a bike too, VIN is located differently in different models. Often, the chassis number of the bike can be found near the handle or the motor. If you still can’t locate it, you’re sure to find it mentioned in your bike registration certificate.

    Is it possible to check for it online?

    Yes, you can. VAHAN, the Ministry of Roads and Transport’s online registry database hold vehicle registration details through which you can track down your vehicle details. Just follow these steps:

    • Visit the VAHAN website
    • Click on Know Your Vehicle Details
    • Type your car’s registration number
    • Hit ‘Search Vehicle

    In order to meet privacy norms, the website does not provide the entire chassis number.

    Good to know! What role does VIN or chassis number play in motor insurance though?

    Well, the better we know your vehicle, the better we can help if the need arises. Knowing the Vehicle Identification Number/chassis number of your car or two wheeler, at one go, gives insurance players like us information that is crucial. In insurance, chassis number is reviewed to authenticate ownership and existence of the vehicle. For e.g., a car may have been written-off/stolen and sold again to an unsuspecting buyer. The insurance company, through VIN can authenticate the car or bike at the time of policy purchase. This helps to end fraud and counter bogus claim settlements. Vehicle Identification Number specially comes in handy during a claim where total loss of the vehicle has been declared. It’s also used to track down theft. The only instance where chassis number changes is when an insurance company pays a claim for replacement of the vehicle body. The chances of this happening, however, are few and far in between. But in case it does, the RTO is immediately notified.

    #DidYouKnow- Chassis number can also be used to identify the type and exact shade of paint used on the vehicle. This information however, is only available with the manufacturer-repairer. VIN can also be used to order specific body parts of your car in case they need replacement.

    Aside from insurance, VIN also becomes important if you’re thinking of buying or selling a second hand vehicle. By running a check on the car’s Vehicle Identification Number or chassis number, you can also establish if the vehicle has been obtained by illegal means , whether it has been used in any insurance fraud, if it has ever been put up for auction, etc. Manufacturers also use VIN to issue car recalls, so it’s handy information to have if you’re buying a second hand car. By doing some research you can see if the particular model was ever recalled owing to any defect.

    #DidYouKnow- VIN can also be used to get a FASTag in case a RC hasn’t been issued to the owner of a new vehicle.

    Will keep this in mind going ahead. But going back in time a little, when was VIN first used?

    The implementation of VIN started in the year 1954 and like every alien attack on screen ever, in the United States of America. If you scrutinise economic history, you’ll notice it coincides with the car manufacturing boom that happened in late post-war United States. It was a time when cars started to get made in large numbers and with greater engine capacity. Although from 1954 – 1981, there was no standardisation so manufacturers used different formats. In 1981, the US Department of Transport required all vehicles plying to have a 17 character VIN. This pretty much set the format for the rest of the world.

  • What is Vehicle Registration Address and How to Change it?

    by Santosh Kevale | Apr 27, 2021

    Driving your own vehicle may provide immense pleasure to you. Apart from signalling the new-found independence and financial stability, it reflects your pride and status. However, regardless of the reason, purchasing a new car or two-wheeler also brings along certain legal responsibilities with itself.

    Before the wheels are in motion, the law requires you to have a valid driving license and a motor insurance plan for your vehicle. While the former is obvious, a vehicle insurance policy is required for covering you against the third-party liabilities that you may incur while driving on-road, apart from securing your newly-purchased machine against damages and mishaps.

    Similarly, you need to obtain the Registration Certificate (RC) of your vehicle from the registration authorities under the Public Vehicles Department of India. As per the 2017 amendments to The Motor Vehicles Act of 1988, driving an unregistered vehicle without proper registration address is illegal and considered a punishable offence.

    What is Vehicle Registration?

    Registering your vehicle with the Regional Transport Office (RTO) of your area is mandatory under the Motor Vehicles Act. It includes the process of imbibing the credentials of your vehicle in government records after its due verification. It helps in establishing a link between the motor vehicle and the owner of that vehicle.

    As per the law, a car, two-wheeler or any other type of vehicle must have two high-security registration plates (HSRPs) installed at the front and back of the vehicle. If one of these number plates are missing, then the vehicle-owner or driver can be fined by police or other authorities.

    These HSRPs contains the registration number of the vehicle in modern Hindu-Arabic numerals with Latin letters, as prescribed by the RTO. The registration number of the vehicle follows a specific format. For instance, if the number plate reads ‘MH O4 EG xxxx’, the break-up of it is as follows:

    • ‘MH’ are the initials of the state in which the vehicle is registered. In this case, ‘MH’ stands for Maharashtra.
    • ‘04’is the code of the Regional Transport Office (RTO). In this case, it represents the Thane and Mulund region of Maharashtra.
    • ‘EG’ are two letters which represents the series of alphabetical order in which all the cars are registered within the specified RTO.
    • ‘XXXX’ is the four-digit unique registration number allotted to the vehicle.

    You can even opt for customized registration numbers by paying a supplementary fee to the RTO. Additionally, the RTO also holds an auction for classic or fancy numbers as well.

    Why is it Important?

    Registering your vehicle is mandatory under the law and is also essential for establishing the proof of ownership of your vehicle. It is required for the purpose of sale of the new vehicle or for the transfer of ownership of the vehicle when you plan to resell it. Cars and two-wheelers with proper vehicle registration are only permitted to ply on Indian roads.

    How to obtain the registration number of your vehicle?

    As soon as you purchase a new vehicle, the dealer applies for its registration at the local RTO. Upon the receival of an application to register a vehicle, the RTO provides a temporary registration number so that the vehicle can be driven on road for RTO visits and other official errands. After the issuance of temporary registration number, you will be provided a permanent registration certificate within a month or so, confirming the ownership of the vehicle in your name.

    The registration certificate for a newly purchased vehicle is valid for 15 years and then it has to be renewed every 5 years. In case you’ve to move to another state or union territory, you can drive your vehicle with the previous registration address for a maximum of 12 months, post which you need to re-register it with the local RTO.

    How to Change your Vehicle Registration?

    Under special circumstances such as the one mentioned above, you may have to re-register your vehicle with the new RTO and apply for the change in its registration address. For this, you need to visit the local RTO, where you want to transfer the vehicle, along with the following documents:

    • Application in Form 33
    • Original Registration Certificate
    • Proof of new address
    • Valid motor insurance certificate
    • Pollution under control certificate
    • No Objection Certificate (NOC) from the original RTO
    • Attested copy of PAN card or Form 60 and Form 61 (as applicable)
    • Chassis & Engine Pencil Print
    • Signature Identification of owner
  • Is Insurance Cover Applicable When A Friend Crashes Your Car?

    by tanvi staging | Apr 23, 2021

    It is important to understand your car insurance policy and how it works when another driver crashes your car

    One fine morning Mr. Bose called his close friend, Devyani and tells her that his car has gone for maintenance service, but he has some important errands line up for the day. Devyani happily obliged him when he asked to lend her car for the day. Hours later, he called her again to inform that he has met with an accident.

    You can find yourself in Devyani’s shoes at some point in your life. You might be wondering if your car insurance cover is still applicable when your friend crashes your car. At such a juncture, several questions can make you anxious.

    • Can I claim the insurance on my damaged car?
    • Is my friend covered under the insurance plan?
    • Who will pay for the compensation amount against the damages?

    Do Car Insurance Policy Cover Other Drivers?

    You might be scratching your head on the above question. The good news is that mostly other drivers are covered under car insurance. ‘Permissive Drive’ rules are applicable in such instances. The driver should be driving your car with your consent along with a valid driving license.

    According to Indian motor tariff, anyone can drive your car under the permitted laws. Hence, don’t worry before lending your car to your friends or family members. You can make a claim with your motor insurance company even when your friend crashes the car.

    Who Will Pay The Compensation Amount?

    If your friend borrows your car and he/she meets with an accident damaging it, normally, your insurer will pay the compensation amount under ‘collision coverage’, and you will have to pay the deductible. If your friend is also injured while driving, your insurance may pay for the driver under ‘liability coverage’ unless he/she is excluded by the policy.

  • Buying A Second-Hand Bike Or Car? Get These Documents First!

    by tanvi staging | Apr 23, 2021

    Are you planning to buy a used vehicle in India? You're not alone! Second-hand bikes and cars are purchased both online and offline daily in our country. However, before you make a purchase, it is always best to be prepared for the paperwork that you'll have to take care off. Don't fret, we've done the homework for you and put a document checklist together. Take a look!

    Vehicle purchase document

    The first document you need to collect is the original invoice of the vehicle. Check for the owner's name, chassis number, engine number and other essential details. It will help you confirm the real owner of the car or bike and also help you determine whether the vehicle is being sold for the first time. If the seller is not able to provide it, he/she should give a receipt to serve the purpose.

    Registration document

    The most critical bike or car document that you need while purchasing a pre-owned vehicle is the registration document also called a Registration Card (RC). You will need to transfer the RC to your name. Visit your RTO and submit the following documents to begin the transfer process:

    • Original RC
    • Form 29 & 30
    • Copy of bike/car insurance papers
    • Copy of valid Pollution Under Control (PUC) certificate
    • Copies of residence proof, such as a voter ID, passport or electricity bill
    • Crime Report of NCRB

    If the RC is missing, submit Form 26 and copy of First Information Report (FIR) filed at the police station to the RTO for a duplicate RC.

    Download RTO forms

    No Objection Certificate (NOC)

    In case there is a bank seal on the RC book, it means the original buyer took the vehicle on loan, and the RC cannot be transferred to you. You will need to take Form 35 stamped and collect an NOC from the car or bike loan provider/bank, stating loan clearance. The seller must also submit RTO Form 28, which is an NOC proving no liabilities exist on the owner, which can legally prevent him/her from selling the vehicle.

    Transaction documents

    You will need to make the purchase/sale agreement or the sale transaction receipt with the vehicle owner. The agreement must be executed or notarized on a stamp paper. You will also need to issue a delivery note or challan, which indicates you've taken the physical delivery of the vehicle from the owner, and you will be henceforth responsible for all types of litigation, traffic offence, etc.

    Tax receipt

    Road tax payment at the right time is a must for both four-wheelers and two-wheelers. It is typically paid at the time of registration. Collect the RTO road tax receipt copies from the owner of the vehicle before sealing the deal.

    Motor insurance

    Third-party legal liability insurance is mandatory for all vehicles in India, including both cars and bikes. If you start driving the pre-owned vehicle without insurance, you may end up paying an unnecessary fine. Motor insurance also protects you from accidental damage and natural calamities. So transfer the insurance policy for the used vehicle in your name. The insurer may ask for an inspection of the car or bike before transferring the policy to you.

    It is a good practice to check the number of claims the owner has made on his car insurance policy or bike insurance policy in the last few years, as this will indicate the number of accidents and repairs the vehicle has seen.

    If the insurance policy has expired, you need to buy a new one before taking the vehicle on the road. Check our motor insurance policies online to secure your ride.

    Pollution certificate

    Before purchasing the vehicle, make sure that the owner has the Pollution certificate. The PUC document is mandatory for all vehicles. If you don't have the PUC certificate, you may have to pay a hefty fine on the road. If the owner does not furnish the PUC document, get the pollution test done for the vehicle before possession.

    Payment documents

    When you make the payment to the seller, keep a couple of copies of the DD/cheque you issued. Also get a few copies of the payment receipt, duly signed by the seller.

  • Drive your car without any worries; get these car insurance add-on covers!

    by tanvi staging | Apr 23, 2021

    Vehicle purchase document

    The first document you need to collect is the original invoice of the vehicle. Check for the owner's name, chassis number, engine number and other essential details. It will help you confirm the real owner of the car or bike and also help you determine whether the vehicle is being sold for the first time. If the seller is not able to provide it, he/she should give a receipt to serve the purpose.

    This add-on eliminates the possibility of out-of-pocket expenses and gives you complete peace of mind as you know you will be compensated fully by the insurer. It is highly recommended for new and premium cars since it helps to decrease the expenditures involving losses.

    These add-on covers or motor insurance riders can ensure 360-degree protection of your car against all contingencies

    A car is an essential asset, and it must be protected under a reliable insurance plan. Third-party motor insurance, which is mandatory by law, is no longer considered ‘sufficient’ to compensate for the losses arising due to accidents. While a comprehensive car insurance policy covers your car and third party losses too, having add-ons further fortify the coverage.

    There are many car insurance add-ons that you can opt for by paying a nominal premium. This article will cover such add-on covers, which you can buy to cover losses due to untoward incidents. Let’s get started.

    Engine protection cover

    The engine is undoubtedly the heart of any car. Surprisingly, ordinary comprehensive car insurance policies do not offer any coverage for damages to the engine. Thus, adding an engine protection cover becomes crucial to safeguard this vital part of your car from the damages. This insurance cover is beneficial for expensive cars, whose engine repair costs can be very high. It takes care of costs against damages to engine parts, differential parts and gear box parts. A standard car insurance policy doesn’t generally cover these.

    Note that there are certain exclusions under this add-on. For instance, if you have made repeated attempts to start the engine when your car is submerged in water, it’s considered a deliberate attempt to damage the engine. In this case, the insurer will reject your claim. Also, if you try driving your car with a damaged bonnet, there are chances of lubricating oils entering the engine. In this scenario too, your insurer can reject your claim.

    Zero depreciation cover

    A car’s value begins to depreciate once it exits the showroom. Over the years, it comes down significantly. In case of any insurance claim, the insurer would compensate you after factoring in the depreciated amount. However, things are different with a zero depreciation cover. It helps to protect your car against all kinds of physical damages without taking into consideration the depreciation factor.

    This add-on eliminates the possibility of out-of-pocket expenses and gives you complete peace of mind as you know you will be compensated fully by the insurer. It is highly recommended for new and premium cars since it helps to decrease the expenditures involving losses.

  • Selling Your Car? Here's How to Transfer Your Insurance Policy

    by tanvi staging | Apr 21, 2021

    Don’t let the documentation process intimidate you

    Are you excited to sell your car and upgrade to a better model? That’s wonderful, however, selling a car comes with an additional set of responsibilities! While you may be focusing a lot on buying your new car, there are a few things you have to consider in regards to selling your old one.

    You need to ensure that you transfer your motor insurance policy  and other documents in the right manner to avoid any issues that may arise in the future. Here’s what you need to know for a smooth handover.

    • Importance of the Documentation Process
      You will continue to be held responsible for any liability related to the car, even after you sell it, if you don’t follow the proper documentation process. To free yourself of future liabilities associated with your car, you need to pay attention to two aspects of the process, transactional and RTO.

    • Transactional Documents
      Once you’ve finalized the deal with the prospective buyer, you should get a sale affidavit and delivery note signed by them. Make sure to attach the prospective buyer’s identity proof and address proof like PAN Card and Aadhaar Card. Don’t forget to attach the cheques that you are receiving as the payment to the sale affidavit. It’s essential to get the sale affidavit notarised and signed as it acts as an agreement transferring all vehicle related liabilities to the buyer.

    • RTO Documents
      Here are the important car insurance transfer forms required by the RTO.

      • Form no. 28
        This is an application for receiving an NOC from the registering authority. This is essential as it acts as proof that you have no unresolved liabilities or obligations related to the vehicle.

      • Form No. 29
        This form acts as a notice to the RTO that the vehicle is being sold by the owner and that all required documents have been handed over to the buyer.

      • Form No. 30
        This form acts as a confirmation to form no. 29.

      • Clearance Certificate
        The clearance certificate is a simple application made to the RTO, informing them that your vehicle has been sold. It includes the details of the buyer, seller and the vehicle.

    • Motor Insurance Policy Transfer
      The buyer doesn’t have to take a fresh policy for the car, you can simply transfer your existing policy to them when you’re selling a car to them. Vehicle insurance transfer will also rid you of any legal issues that may crop up later. You must fill a fresh proposal form and submit it to the insurance company. Attach all the documents listed above as well as the previous policy. On receiving these documents, the insurance company will pass the endorsement of transfer. The entire activity must be completed within a period of 14 days. Now you know the steps you need to go through for a hassle-free handover of your car and its policy cover. As important as it is to transfer your old car’s policy, it’s also crucial to get an insurance cover for your brand new ride.
  • Telematics: Transforming how motor insurance works

    by Tanvi Bodhe | Apr 20, 2021

    The advancements in technology have left no industry untouched. From automobile to aviation, every industry has adopted technology to come up with innovative products to woo their customers. Like other industries, the insurance industry as well has started implementing technological developments in their business operations, making it easier for their customers to access and buy their products.

    Talking about the motor insurance sector, it has seen a rapid transformation in recent years. From innovative insurance products to Artificial Intelligence (AI) based premium calculation, technology has impacted this industry in multiple ways. Let's have a look at some of the most significant technological advancements that are revolutionising the motor insurance industry:

    Use of telematics for premium calculation

    The insurance companies have adopted a concept called 'Usage Based Insurance' where telematics devices are attached to vehicles to monitor the risks associated with it. These telematics devices record the driving patterns of vehicle owners, including the distance travelled by them each day, the average speed at which a vehicle is driven, and how safely it is being driven.

    These records are then used to calculate vehicle-specific motor insurance premiums, based on the risk associated with each vehicle. For example, if a car is regularly driven at high speeds on highways, the insurance premium for it will be higher as compared to a vehicle which is being driven at low speeds inside a city.

    The adoption of telematics ensures a fair price for car insurance customers as it increases affordability for those who drive less and practice safe driving habits. It also helps insurance providers to accurately determine accident damages and reduce the number of fraudulent claims.

    ICICI Lombard is one of the few insurers in India that uses this technology to offer vehicle-specific motor insurance policies. A vehicle owner can choose an insurance plan for his/her vehicle, based on the kilometres that he/she shall be driving in a year. In case the coverage gets exhausted, there is an option to get a top-up.

    Installation of dashboard cameras for maximum car security

    Insurers have started installing cameras on the dashboard of a car. These cameras can record forward, sideward, and even rearward videos. These recordings can be beneficial and can be used as evidence in case a policyholder gets involved in an accident. It provides insights about the accident to the insurers and helps them to determine the authenticity of a claim.

    This will not only help in bringing down the fraudulent claims but also in expediting the claim-settlement process. Not only for four-wheelers, but some insurers are also even providing helmet cameras for two-wheelers to record an accident scene.

    Smartphones apps for every insurance-related help

    Many insurers in India have introduced their smartphone apps with which a user can get any help related to his/her motor insurance policy within minutes. The apps can be used for multiple purposes, such as to buy or renew the policy, raise a claim, or call for roadside assistance in case the need arises.

    Additionally, these apps can be synced with car's dashboard camera so that it can record videos of an accident, record conversations with witnesses and other parties involved in the accident, and capture any relevant document on the scene. Through these apps, the policyholders can also get on a video chat directly with the insurer's representatives and justify their claim.

    Use of blockchain technology

    Many motor insurance companies in India have started integrating blockchain technology into their existing workflows. This helps other insurance players to access data regarding insured vehicles, including smart card details, owner details, telematic records etc.

    This makes it easier for them to identify the claims and verify its authenticity. It also helps the insurers to reduce the time required for the underwriting of claims. They can now easily tap into online databases and check the vehicle owner's data and quickly assess the claim amount to be paid.

  • Motor Vehicles (Amendment) Act 2019 Mandates Vehicle Insurance

    by Tanvi Bodhe | Apr 14, 2021

    The Motor Vehicles (Amendment) Act 2019 came into effect on September 1, 2019, with an intent to curb road accidents in India and boost road safety. This massive update to the Motor Vehicles Act 1988 has led to the introduction of fresh penalties and license requirements for vehicles along with new operating standards for both personal and commercial motor vehicles.

    The new Motor Vehicles Bill brings forth a jaw-dropping surge in the fines for traffic rules violators. The Bill also seeks to spread awareness towards road safety and aims to discourage drivers from flouting traffic rules and regulations.

    Here are some of the key points of the Motor Vehicles Act (Amendment) Act 2019 that you must know:

    • Mandatory Motor Insurance:

    • The Bill instructs the Central Government to create a special Motor Vehicle Accident Fund that will be designed to provide compulsory vehicle insurance to vehicle owners. Car insurance and two-wheeler insurance offered by the Government has been targeted to ensure:

    • Medical treatment for road accident victims under the ‘golden hour’ scheme.
    • Monetary compensation to the next of kin of a person who has died in a ‘hit and run’ accident.
    • Monetary compensation to the next of kin for a person grievously injured in a ‘hit and run’ accident.
    • Monetary compensation for to other victims as identified under the new guidelines.
    • Vehicle Recall:

    • Under the amended Motor Vehicles Act 2019, the Central Government reserves the rights to recall a vehicle of any make and model if it poses a persistent threat to drivers, environment or the public at large. The ‘recall’ use has been hailed as a great step towards bringing accountability in the auto industry. With the recall clause, a vehicle manufacturer will be liable to:

    • Provide full reimbursement to the vehicle owner against the recall.
    • Substitute the recalled vehicle with a replacement vehicle that has similar or higher specifications.
    • Road Accident Compensation:

    • The amended act prescribes compensation and immediate cashless treatment for accident victims with the ‘golden hour’ period. Under the clause, the golden hour is described as the ‘one-hour’ post a major accident, wherein prompt, life-saving medical treatment can be given to the victim, thus saving his/her life. The act also envisions providing interim relief to third-party insurance claimants, seeking compensation.

    • Minimum compensation in case of death in a hit & run case: Rs. 2 lakh.
    • Minimum compensation in case of grievous injury in a hit & run case: Rs. 50,000.
    • Legal Protection for Good Samaritans:

    • Under the good samaritans provision, any civilian administering aid (medical/non-medical) to an accident victim will not be pursued with legal/criminal action due to the death of the victim. The same is applicable in the case of seriously injured victims. However, the legal cushion is based on three factors:

    • The assistance given to the victim should be in good faith.
    • The assistance should not be based on rewards expectations, monetary or otherwise.
    • The assistance given should be entirely voluntary.
    • Increased Penalties:

    • The main talking point of the new Motor Vehicles (Amendment) Act 2019 is the steep rise in the monetary penalties for traffic violators. Despite facing opposition from various sections, the hiked penalties have been enforced and have already witnessed rigorous implementation. If you drive without motor insurance then you will have to pay high penalty.

      A majority of the states have welcomed this surge aimed at reducing traffic violations, drastically. Below is the full list of traffic violations and their revised fines as per the Motor Vehicles (Amendment) Act, 2019:

      Traffic Violations & Increased Penalties

      Traffic Violations
      Previous Fines (Rs.)
      Revised Fines (2019) in Rs.
      Travel without a ticket (public transportation) 200 500
      Driving without license 500 5000
      Overspeeding 400 ● 1,000 for light vehicles
      ● 2,000 for medium vehicles
      Driving under the influence 2,000 10,000
      Dangerous driving 1,000 Up to 5,000
      Vehicle speeding/racing 500 5,000
      No helmet 100 1,000 + 3 months suspension
      Driving without insurance 1,000 2,000
      Two-wheeler overloading 100 1,000 + 3 months license suspension
      No permit vehicle 100 1,000 + 3 months license suspension
      No seat belt 100 1,000 + 3 months license suspension
      Riding without a helmet 100 1,000 + 3 months license suspension
      Juvenile offences N/A 25,000 fine for the guardians with 3 years jail term. Juvenile to be tried under the Juvenile Justice & Protection Act
      Violation of licensing by cab aggregators N/A 25,000 to 100,000
      Driving post-license disqualification 500 10,000
    • Insurance Cover – Top Priority

    • Be it car insurance or two-wheeler insurance, getting vehicle insurance policy done right has become a top ’to-do’ on everyone’s list. You can buy car insurance online or get your vehicle insured through third-party insurance companies.

      With the implementation of Motor Vehicles (Amendment) Act 2019, rules and penalties have become stricter, thus getting yourself the obligatory insurance cover is of greatest significance.

      The enforcement of the Act will ensure that the vehicle owners, especially who have two-wheelers will now be more inclined to opt for vehicle insurance. Now, if you are wondering how to avoid the steep fines and penalties for traffic violations, then simply follow this:

      “Wear a helmet, put the seatbelt on, don’t drink & drive, stay in your lane, keep your license handy, and most important of all, keep your car and your loved ones safe with motor insurance."

  • Things You Need to Know While Importing a Car in India

    by Tanvi Bodhe | Apr 14, 2021

    Are you a car enthusiast who spend hours admiring the masterpieces with wheels from around the world? Have you been pining for a specific car, luxury or vintage, that is not available in India? We feel your pain; it’s quite the disappointment when the thing you most desire is not available in your country.

    Don’t worry! You can always purchase a car and import it to India and drive your dream car in your own country. A motor insurance policy will provide the financial security to your imported car against any loss or damage it may suffer during any unforeseen circumstances. Here are some of things about importing a car in India you must know as per the provisions laid down by the Directorate General of Foreign Trade (DGFT):

    When Can You Import a Car?

    You are allowed to import a car in India only under the following circumstances:

    • If the car is not manufactured by Indian companies.
    • If the car is not registered in any other country, under any of their laws.
    • If the car is not leased or loaned at the time of importing.

    The Type of Car You Can Import

    It’s important to know that the process of importing a car in India is permitted only through certain custom ports. They are as follows:

    • Mumbai
    • Nhava Sheva
    • Delhi Air Cargo
    • Chennai
    • Kolkata
    • Cochin
    • Tughlakabad

    Things to note when importing a car via dealer

    You can always seek help of a dealer to import your new ride to India, which will make the process easier and quicker also you need to buy car insurance for your imported car to protect against unforeseen circumstances. . However, in order to do the same, you need to follow certain guidelines as listed below:

    • Get the Road Worthiness Certificate issued by any testing agency of the country from where you’re importing the car. This is to ensure that your importation certificate is compliant with the rule 126 under Central Motor Vehicle Rules, 1989.
    • While importing the car, you must submit a written proof that serves as a confirmation that the compliance certificate as required under rule 126 of the Central Motor Vehicle Rules, 1989 will be submitted within six months of the importation process.

    Import Duties on Cars

    This can be one of your main concerns while importing a car in India. Following are the applicable import duty rates for importing a car in India:

    Criteria / Applicability
    Import Duty in %
    Used Car 125
    Cars CBUs whose CIF value is more than $ 40,000
    or Petrol Engine > 3000 CC
    or Diesel engine > 2500 CC
    100
    Cars CBUs whose CIF value is less than $ 40,000
    and Petrol Engine < 3000 CC
    and Diesel engine < 2500 CC
    60

    Exceptions

  • 7 key benefits of buying a second hand car instead of a new car

    by Tanvi Bodhe | Apr 13, 2021

    Opting for a used car leads to more savings and enables you to buy a premium model in the same budget.

    When it comes to buying a car, you need to take a lot of crucial decisions, such as, what will be your budget, the type of car you wish to purchase, the make, model, and colour of the car, choosing a car insurance whether you will make the full down-payment upfront or avail the services of a car loan. One such important choice that you need to consider is whether you would like to purchase a new car or opt for a second-hand car.

    While purchasing a brand-new car can be an exhilarating thought, opting for a 2nd hand car has its own advantages. According to the market surveys, the used car sales in India have gone up by 50% during the past one year, mainly due to the entry of organised players in the segment and greater assurance of the vehicle being sold. Read more to know about the 7 major benefits of buying a second-hand car instead of a new one and how it can be a smart decision for you:

    Facilitates affordability and savings

    The most specific advantage of opting to purchase a second-hand car instead of a new one is that it facilitates more affordability and hence, increases your savings. You can own a pre-owned car of your preferred make and model at a much lesser price when compared with a new car of the same model. For example, you can own a 3-year old Maruti Swift Dzire at an approximate price of Rs.3 to 3.5 lakhs whereas the new car will cost you around Rs. 6 to 8 lakhs, depending upon the variant. However in this case, motor insurance is something you should always rely on

    Minimizing the depreciation of your vehicle

    The value of a new car starts depreciating from the moment it is driven out of the showroom. Typically, the market value of a car decreases by about 20% per year for the first few years after its purchase. This means that a new car will lose roughly 50% of its value during the first two to three years. Though various cars have different depreciation rates, some luxury cars have a steep depreciation rate over the first few years.

    Cars that are in low demand also lose their value quite significantly over time. You can avoid that hit by buying a second-hand car as it would have already suffered its maximum depreciation by then and will not lose much value in the forthcoming years. Some of the factors that you should keep in mind before calculating the depreciation and buying a second-hand car at much cheaper rates include:

    • Brand: Some brands have prolonged value due to their popularity, while others lose their value significantly due to increasing competition. Thus, thorough research can get you close to 60 percent of a car’s price in three years.
    • Vehicle Condition: It is recommended to check the fuel exhausts and any oil leaks before choosing your second-hand car which gives you the power to bargain better and save money on future repairs
    • Performance: A car offering better distance per liter of fuel is your best bet as it will not only save you money but is also an indicator of a car’s good performance.

    Avoiding the registration fees and other charges

    When you buy a new car, you will have to make numerous payments to the Government, such as one-time registration fees, road taxes, and other RTO charges which swell up the on-road price of the vehicle. Opting for a used car is instead a better option to avoid these extra charges as it would have been already paid by the first owner of the vehicle. This, in turn, will help you get full value for your money and you don’t need to shell anything extra out of your pocket to take your favorite car out for a spin.

    Document Checklist for Buying a Second-hand Car

    Second-hand car buyers should check the following documents thoroughly before confirming the purchase:

    • Registration Certificate
    • Purchase Invoice of the car
    • All documents for existing insurance policies
    • Documents for the service history of the car
    • Forms- 28, 29, 30, 32, 35
    • Invoices for Road Tax
    • Pollution Control Certificates
    • Owner’s Manual

    Full assurance and warranty for the vehicle


  • All You Need To Know About High Security Registration Plates

    by Tanvi Bodhe | Apr 13, 2021

    Until recently upon purchasing a motor vehicle, you had the option to customise the license plate with colour, language and font of your choice. However, all of this has changed with the Ministry of Road Transport and Highways (MoRTH) bringing about amendments in the Central Motor Vehicle Rules, 1989.

    The new mandate requires all vehicles sold on or after 1st April, 2019 to be affixed with High Security Registration Plates (HSRPs). and to have a motor insurance for your vehicle is also a important factor. These plates will form a uniform pattern of displaying motor vehicle registration numbers across the country. The Ministry has taken this step to curb vehicle theft and enable easy tracking of lost or stolen vehicles.

    Let’s discuss further about this new rule, how the new plates look like and how these are different from the ones already existing in our vehicles:

    How do I get an HSRP for my vehicle?

    According to the Ministry’s new rule, a vehicle manufacturer has to provide these HSRP to the dealers along with the vehicle. Once you make a purchase, the dealer will stamp the allotted registration number on the plates and fix them to your vehicle. You should have a two wheeler insurance or a car insurance along with the high security registration plate to stay protected during any emergencies.

    Auto makers need to ensure that dealers have the necessary infrastructure to place the mark of registration on the HSRPs and print the third registration plate, wherever required. The new rule also states that the cost of an HSRP and the cost of affixing it to the new vehicle after placing the mark of registration should be included in the price of the vehicle. Thus, if your dealer demands an additional amount for the HSRP, you know that it is against the rules.

    Moreover, the HSRPs come with a guarantee of 5 years, wherein if it is damaged or its letters or numbers fade away, the dealer who fitted the plate will replace it free of cost.

    What does an HSRP look like?

    The HSRP are made of aluminium and come with reflective tapes. They are hot-stamped with a chromium-based hologram of the Ashok Chakra in Blue on the top-left corner. At the bottom-left corner, a 10-digit permanent identification number (PIN) is etched with laser. In the middle of the chakra hologram and the laser code, ‘IND’ is inscribed in Blue.

    ‘INDIA’ is inscribed in font size 10, font type Arial Bold and colour Blue at an angle of 45-degree in hot stamping foil across all letters and numbers on the plate. The plates also feature two non-removable snap-on locks that, if somehow removed, will remain non-usable.

    Besides the front and rear registration plates, a chromium hologram sticker with high refractive index is affixed on the bottom-left corner of the windshield from the inside. This self-destructive sticker is the third registration plate that contains details like the 10-digit PIN, the actual registration number, the engine and chassis numbers, the date of first registration of the vehicle and the name of the registering authority.

    The specified background colour of the hologram sticker/third registration plate is orange for diesel vehicles, light blue for petrol and CNG vehicles and for grey for other vehicles.

    Does my old vehicle need a new HSRP?

    As per the Ministry of Road Transport and Highways (MoRTH), existing vehicles will also have to switch to the new HSRP. For the purpose, you have to visit your car dealer. You will be required to surrender your old registration number and destroy the number plate.

    After the process of registration is over and the HSRP is affixed to your vehicle, the new registration number will be electronically linked to your vehicle.

    Why is HSRP important?

    You might wonder why your existing registration plate needs to be changed at all as it seems to serve its purpose well enough. However, it must be noted that the old number plates are very easy to tamper with, which makes stealing a vehicle very easy. Also, the first thing that thieves generally do after stealing a vehicle is remove the number plates.

    Further, some of us customise our vehicle’s number plate very artistically, which makes it difficult for anyone, including the police, to read. Consequently, the police fails to track down such a vehicle in case it is lost or stolen. The uniquely styled HSRPs are a one-stop solution to all these problems as these plates are tamper-proof and act as a deterrent to thieves.

  • Planning to Get a CNG Kit? Here's What You Should Know

    by Santosh Kevale | Mar 02, 2021

    Things to know before getting a CNG Kit

    Spiralling petrol and diesel costs are enough to convince car owners to get a CNG kit. When petrol costs ₹72 per litre, diesel costs ₹ 60 per litre and CNG costs only ₹43 per kilogram*, it is obvious you will consider getting a CNG kit for your car.

    A CNG kit can bring a stark improvement in your car's mileage. It can reduce the average cost per kilometre by ₹3 to ₹5 depending on your car's model. It is not only economical but also eco-friendly. But befor. CNG kits are a smart choice to save on fuel cost and reduce pollution and similarly a car insurance policy is recommended to cover the increase in the maintenance cost of the vehicle. you plan to buy it for your car, here are a few things you should know:

    • Compatibility and Licensing
    • Before getting a CNG kit you must check your car's compatibility with the CNG fuel system because not all cars are compatible with it. Even if your car is compatible, you will further need approval from the government to get a CNG kit.

      Getting an approval from the local authorities can be hectic and time consuming. Once approved, you will get a 'Registration Certificate' (RC) branded with “fuel change” after which you can use the CNG kit. However, if you plan to get the kit for a new car, it will take much less time than converting your old car and getting its RC stamped.

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