Motor
Motor
Look for
An insurance with correct market value for the motor vehicle with normal deductible
and add-on covers such as NIL depreciation cover, Alternate vehicle/travel reimbursement
cover, Replacement value cover etc.
An insurance company with preferred garage tie-up than for a mere cash less facility
as the insurer may guarantee the repair.
A good broker preferably a domain expert who knows insurance and will have patience
to listen to you to take control of your motor insurance. Others who sell just insurance
along with their main products & services such as car dealers/Banks/financial services,
Companies etc. will see this as an additional revenue model and will have less time
and attention for your needs.
Portability of No claim Bonus benefits for new insurance (not renewal) or for new
car / change of car. One can retain the no claim bonus for three years.
Discounts for AASI and anti theft device (CATS), specially designed for handicapped,
meant for mentally challenged persons, used within the premises.
Avoid
Squeezing the insurance company for reducing the vehicle value (IDV/sum insured)
to gain further discount that may result in "pay as paid" basis claim settlement.
More pressure on the insurer for premium squeeze, as that will result in unfavorable
hidden conditions
Insurance thro' car dealers (unless it is a free cover coming along with package
deal) as there would be no value addition.
Alterations in the vehicle especially the engine. If altered it must be informed
to the insurance company and policy amended.
Participating in a rally, unless additional premium is paid.
Useful Hints
Always list out extra fittings which have value by an amendment.
Opt for unlimited third party liability cover.
Loss accessories on two-wheelers are covered only if additional premium is paid.
Ensure Driving License is in force; else insurance claim would be rejected.
Ensure that Driving License is appropriate for the particular class of vehicle.
Ensure that the ownership if the vehicle as in RC tallies with insurance policy.
Ensure the FC is in force wherever applicable
Insurance will not pay for accidents arising out of drunken driving.
Do not sell the vehicle without any trace, thro' second hand vehicle dealers. Must
obtain the details of the buyer, his address and delivery note. This would protect
you from unnecessary police harassment if the delivered vehicle was involved in
any criminal activity or third party injury.
In case of theft immediately inform the police and get acknowledged so that you
would escape from unnecessary police harassment if the vehicle was involved in any
criminal activity or third party injury.
