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Corporate Agent to:Â |
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Planfinance Advisors Private Limited is a Corporate Agent of Tata AIG General Insurance Company Limited, for general insurance, and is registered with Insurance Regulatory and Development Authority (IRDA), New Delhi, under the Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000. |
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Motor Insurance : |
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In India one of out of every three car is damaged in an accident. Motor Insurance is a wide comprehensive cover designed to provide protection to you and your car, which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your vehicle. |
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Key Features: |
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What is covered : |
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Loss or Damage to your vehicle against Natural Calamities
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. |
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Loss or Damage to your vehicle against Man-made Calamities.
Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air. |
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Personal Accident Cover
Coverage for the individual driver of the vehicle while traveling, mounting or dismounting from the car. Optional personal accident covers for co-passengers available. |
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Third Party Legal Liability.
Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property. |
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What is not covered : |
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Normal wear and tear and general ageing of the vehicle. |
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Depreciation or any consequential loss. |
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Mechanical/ electrical breakdown. |
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Wear and tear of consumables like tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement. |
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Vehicles including cars being used otherwise than in accordance with limitations as to use. |
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Damage to/ by a person driving any vehicles or cars without a valid license. |
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Damage to/ by a person driving the vehicle under the influence of drugs or liquor. |
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Loss/ damage due to war, mutiny or nuclear risk |
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Sum Insured : |
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All vehicles are insured at a fixed value called the Insured's Declared Value (IDV). |
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IDV is calculated on the basis of the manufacturer's listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff. |
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Choosing the right Motor Insurance |
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When it comes to choosing insurance for your health, travel, student, home, etc. you have many options to compare between the various policies available in the market. As each company offers innovative covers, it becomes easier for you to make a decision based on the coverage as well as the premium offered. However, this does not hold true when buying Motor Insurance.
Motor Insurance in India is governed by the Indian Motor Tariff, so the coverage for your vehicle would be the same no matter which company you would buy it from. Moreover, motor insurance is mandatory and needs to be renewed every year.
Here are a few pointers to help you to make a more informed decision. |
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Check out the premium |
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Even if the coverage offered would be the same, the premium charged by various companies would still be competitive. Study the cost involved with various companies and choose the one which gives you the best rate. However, don't let premium be the only deciding factor. |
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Name / goodwill of the company |
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Try and buy insurance from an insurance company which has a good name and reputation. It always helps to go with the number one in the country! |
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Consider the garage tie-ups |
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All insurance companies tie up with various garages across the country for cashless settlement of claims. When you get your vehicle serviced at any of these garages, the claims are directly settled by the insurer. Always check the number of cashless garages the company has a tie up with. Also, consider the quality and the location of these garages. |
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Payment options |
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Always consider what are the various payment options available. For example, the EMI option is very helpful in situations where you do not want to pay in lump-sum. |
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