Yes. As per the Motor Vehicles Act, it is mandatory for car owners to have a valid third party car insurance in place for being able to drive their vehicle in India.
It is illegal to drive a car without a valid insurance (at least third-party cover) and may attract a fine of up to Rs. 2,500 or imprisonment for three months or both.
A car insurance policy only insures the car. It does not insure the driver of the car. Thus, to get the driver of the car insured against personal injuries/permanent disablement/death, you are required to purchase a Personal Accident cover with your comprehensive car insurance policy.
Insured Declared Value (IDV) is the insured value of the vehicle that is decided at the beginning of a policy period by the insurer.This is useful incase of Total Loss or Theft of your vehicle as insurer decides the claim amount on the basis of vehicle’s IDV.
The Private Car is the one that is used for social, domestic and pleasure purposes and also for business purposes excluding the carriage of goods other than samples by the insured or his employees.
Third party refers to people who are not your family members or property you don't own.
Break-in-insurance is when the Policy lapses due to non-renewal of the Policy on time. As per the law, an owner should cover his/her car with at least third party insurance at all times. If you have a break in your car insurance, you can-
Approach another insurance company to renew policy-if it has been less than 90 days since the Policy lapsed. In this case, you may be able to retain your No Claim Bonus.
Obtain a new Insurance Policy-if it has been more than 90 days since the Policy lapsed.
In either case, you have to get your car re-inspected
The only documents required for renewing you expired car insurance policy are the RC copy and a copy of your previous insurance policy. Your car would have to undergo inspection though. If your car comes out to be 'recommended', then you can move on to insuring it. However, if your car is labelled 'not recommended' by the insurance company [for pre-exsiting damages etc] then you'd have to first get those damages repaired before moving on to insuring your vehicle.
My Deal Insurance is the fastest growing insurance agency marketplace from where you can easily and instantly compare various general insurance policies offered by different reputed insurance companies in India and buy or renew your policy with the highest coverage at the lowest premium. We are tied-up with the top providers of motor insurance policies across the nation. Our goal is to bring affordable insurance policies to the entire population of the country. Our team is dedicated at providing any required assistance regarding policy premium payment, claims etc. and much more.
We understand that one quote doesn’t fit for all and this is the reason we have something different to offer to all our buyers of car insurance. We also understand that you invest your hard earned money in buying car insurance to get the financial benefits at the time of an unforeseen incident. This is the reason we do everything to make sure each of our customers get the best car insurance policy and that too, at the lowest premium.
Car is your prized possession! Availing a comprehensive insurance policy is prudent, which not only covers your car, but also your family members or passengers in your car.
A Car Insurance Policy is mandatory under the Motor Vehicle Act. Every car owner must have an insurance which covers third party injury, death or property damage.
With Car Insurance, you can cover-
Car against theft, accidents, disasters such as floods, earthquake, fire, etc.
Family members (including self) with Personal Accident Policy
Paid driver, employees or any unnamed passenger
Damage to someone else's car or property
Injury/Death of another person due to accident caused by you
There are two kinds of car insurance policies - third-party liability insurance and comprehensive car insurance. Third-party insurance covers your legal liability in case of an accident resulting in the demise or disability of a third party or damage to the third-party’s property. A comprehensive car insurance policy covers damages and theft of your vehicle, and damages you might cause to another vehicle, property or the third party.
Reimbursement claim - If your car is repaired at a garage that is not on your insurer’s network garage list, then you must first pay from your pocket and later make a reimbursement claim. Cashless claim – When you get your car repaired at any one of your insurer’s network garages, the expenses will be directly dealt between your insurer and the garage.