What is it?

Our Motor Floater is a comprehensive motor policy that gives you the flexibility to secure multiple vehicles in a single policy.

Why you’re going to love it?

  • car

    It’s convenient. You can get your vehicles insured at one time, under the same policy.

  • car

    Easy renewals too. You no longer have to worry about multiple renewal dates.

  • car

    You save money!

  • car

    Even though your vehicles are covered by one policy, No Claim Bonus for each is applied separately.

How does it work?

  • The total premium is calculated by applying the appropriate rate against individual Sum Insured, followed by a floater discount on additional vehicle premium.
  • With every claim, the total Sum Insured of the policy reduces.
  • The total Sum Insured is based on the vehicle with the highest IDV (Insured Declared Value)
  • Sub limit of each insured vehicle depends on individual IDV
  • The policy start date for vehicles is defined separately, as per the expiry of existing OD cover
  • Sum Insured can be reset within the year by paying an additional premium.
Disclaimer: Single Owner Multiple Vehicle (Motor Floater) (Sandbox application no.179) is offered as an experiment under the Regulatory Sandbox proposal valid from 1st February 2020 to 31st July 2020