Car Insurance in Ludhiana
Car Insurance in Ludhiana
Ludhiana is the largest and the most populous state in Punjab. The city is known for its thriving industries, making it an industrial centre in northern India. Due to the large population and industrial activities, the city experiences enormous traffic, which may lead to a higher number of vehicular accidents.
Thus, if you are a resident of Ludhiana, a car insurance policy provides financial assistance or compensation benefits in case your car meets with a road accident. Besides, third party car insurance in Ludhiana is mandated by the Motor Vehicles Act 1988.
If you have recently bought a car or plan to buy one, this article will take you through all the details of Tata AIG car insurance in Ludhiana.
Why Do You Need a Car Insurance Policy in Ludhiana
Though Ludhiana is an industrial hub, the roads are in poor condition. Besides, various road construction projects are being carried out, which has increased the traffic burden in certain areas.
Many roads have potholes, which increases the chances of accidents as motorists driving in a hurry fail to locate them. In Ludhiana, car owners have also been suffering due to increasing incidents of vehicle theft. Monsoon floods are another reason for worry for vehicle owners, as vehicles suffer from damage.
Having the best car insurance gives you financial coverage in all scenarios that damage your vehicle in Ludhiana. It also offers financial assistance in case of damage to a third-party vehicle, relieving you of any financial strain.
Key Features and Benefits of Tata AIG’s Car Insurance in Ludhiana
Key Features and Benefits | Details |
---|---|
Car Insurance Premium | Starts at ₹2094 |
Cashless Garages | More than 7500 cashless garage networks |
Personal accident cover | Up to ₹15 lakhs personal accident cover for owner-driver |
Third-party liability cover | Provides financial cover against damage caused to third-party vehicle |
Comprehensive coverage | Provides coverage over and above mandatory third-party insurance |
Loss or damage to own vehicle | Covers damage or theft of the insured vehicle |
Customisable add ons | Up to 13 motor vehicle add-ons |
Claim settlement ratio | High claim settlement ratio |
No claim bonus | Reduced premium for the following year |
Types of Tata AIG Car Insurance in Ludhiana
If you are a car owner in Ludhiana looking for car insurance near me and want to know the various types of insurance available, here is a detailed explanation for you.
Third-Party Car Insurance
Third-party car insurance is also known as “Act-Only” insurance and is compulsory for all vehicle owners as per the Motor Vehicles Act. Under this insurance, the insurer undertakes to pay for the losses or damage caused to the vehicle, property, or life of any third party.
Pros
It provides financial protection to the policyholder
It has an affordable premium
Cons
No personal coverage for the policyholder
Ideal For
New drivers between 20-25 years of age.
Own Damage Cover Insurance
Own damage cover or collision damage car insurance is a type of insurance that covers the cost of repairs to the policyholder’s vehicle. The premium of this insurance policy is based on the IDV of the car.
Pros
It compensates for vehicle theft, damage, etc.
It allows you to purchase add-ons
Cons
It does not provide third-party damage coverage
Ideal For
If there is a lien on your vehicle.
Young drivers between 20-30 years of age.
**Comprehensive Insurance </h3
A comprehensive insurance policy provides coverage for own damage as well as third-party damage. Comprehensive insurance provides customers with no claim bonus when they do not make any claims during a year.
Pros:
Covers theft, floods, animals, vandalism, riots, etc.
Protects the policyholder as well as the third party.
Cons:
Higher premium
Ideal For:
Drivers of all ages
The Best Car Insurance in Ludhiana: Third-Party Vs Comprehensive Plans
Features | Third-Party Car Insurance | Comprehensive Car Insurance |
---|---|---|
Coverage | Covers damage caused to the third party vehicle, property, and life. | Covers damage to the third party as well as the policyholder and more |
Premium Cost | It has a cheaper premium as only third-party loss is covered | The premium is expensive as the coverage is wide |
Legal Requirement | It is mandatorily required as per the Motor Vehicles Act 1988 | It is not mandatory in India |
Premium Calculation | Premium is calculated according to the cubic capacity of the engine. IRDA decides the rates | Premium depends on the IDV, make and model of the car, etc. |
Add-ons | There is no option to include any add-ons | You can include add-ons like zero depreciation, roadside assistance cover, etc. |
Exclusions in the Policy | It does not cover any damage caused to the policyholder’s car, property, or life. | It does not cover the damages if an accident happens under the influence of alcohol, driving without a licence, etc. |
Ideal For | Opt for this policy if you want coverage for own damages as well as the third-party | Opt for this policy if your car is old, rarely driven, or you are planning to sell it soon. |
What is the Car Insurance Rate in Ludhiana?
The best way to safeguard your vehicle against unforeseen events is to opt for Tata AIG car insurance in Ludhiana. However, before you choose a plan, it is crucial to have a knowledge of how car insurance rates are determined so you can opt for an affordable plan with maximum benefits.
Insured Declared Value (IDV)
IDV is the present market value of a vehicle after depreciation. The insurance provider determines the IDV of your vehicle, and it is the maximum sum assured that a policyholder receives in case of a claim.
Driving Record
The driving record of the policyholder plays a crucial role in determining the insurance rate. A driver with clean records enjoys better rates and discounts when buying new car insurance as compared to a driver with poor driving records.
Model and Make of the Car
Insurance rates are also affected by the class and model of the insured vehicle. For instance, sports cars and luxury cars have higher premium rates. Similarly cars with a higher engine cubic capacity have a high insurance premium.
Coverage Type
The type of coverage that you are looking for is an essential factor that helps to determine the premium amount. If you want comprehensive coverage, the premium rates will be high as compared to third-party coverage.
Claim History
If you have not made any claim in a year, you can receive the benefit of NCB insurance. It is a discounted premium rate as a reward for no claim.
Best Car Insurance Add-Ons to Get in Ludhiana
Add-ons with car insurance in Ludhiana help to strengthen the base policy and protect you against unforeseen damages. Tata AIG offers 12 add-ons mentioned below:
No Claim Bonus
It is the reward to the policyholder for not making any claim in a year.
Daily Allowance
It is an allowance paid for 10-15 days for travelling when the car is under repair.
Repair Services
You can get repair services from an authorised garage when the car parts require minor repairs.
Emergency Expenses
During an accident on a journey, this add-on provides expenses for hotel stays and travelling back home or to the nearest city.
Key Replacement
This add-on provides the expenses to replace the lock or purchase a new key if it is stolen.
Tyre Expenses
It covers the cost of replacing or repairing the tyre.
Zero Depreciation
The policyholder gets the depreciation amount that is deducted from the value of replaced parts.
Consumable Expenses
It covers the expenses of consumables in case of an accident like engine oil, brake oil, lubricants, etc.
Return to Invoice
In case of complete loss of the car, the insurer gets the difference between the assured amount and the invoice value of the vehicle.
Engine Protection
It is reimbursement of expenses related to the engine when there is a breakdown due to an oil spill or water ingestion.
Roadside Assistance
This rider pays for services like towing the vehicle, changing tyres, etc., when the car breaks down during transit.
Personal Belongings
This add-on pays for the loss of personal belongings of the insured’s family members. However, it does not cover loss of money, jewellery, etc.
How to Buy and Perform Car Insurance Renewals in Ludhiana with Tata
How to Buy Car insurance
Step 1: Visit the Tata AIG official website.
Step 2: Choose ‘Car Insurance’ under ‘All Products’.
Step 3: Enter your car’s registration number and click ‘Get Quote.’
Step 4: Fill up all the details about the vehicle and personal details.
Step 5: Choose the insurance policy coverage and the add-ons you want to opt for.
Step 6: You will get a quote for the Tata AIG car insurance Ludhiana
Step 7: You can pay the premium online.
How to do Car Insurance Renewal Ludhiana
Step 1: Go to the Tata AIG official page.
Step 2: Choose ‘Car Insurance’ under ‘All Products’.
Step 3: Enter the car number and click ‘Renew existing policy.’
Step 4: Enter the vehicle details and personal details.
Step 5: Choose the insurance policy of your choice along with the add-ons you want.
Step 6: Get the renewal amount and pay it online.
How to File a Claim for Car Insurance in Ludhiana?
There are two ways to claim a car insurance policy in Ludhiana from Tata AIG:
Reimbursement claim
Cashless claim
Reimbursement Claims
File a claim by calling 1800-266-7780. You can also register a claim by visiting the claim support page and filling in all the required details correctly.
Once the claim is registered, a self-inspection link is sent to the registered mobile number.
You must fill in all the details asked in the self inspection form about the damage to the car. A representative from the insurance company will also inspect the car.
Choose the reimbursement claim method.
Submit the documents to take the claim forward, including the claim form, FIR, policy documents, ID proofs, address proof, etc.
Once you complete the claim registration process, you can track it online.
After the claim is accepted you can take the car to any garage and get it repaired. You can later submit all the bills and invoices to get a reimbursement from the company.
Cashless Claims
Register the claim by calling 1800-266-7780. Alternatively, you can also register online on the Tata AIG claims support page.
After registering the claim, you must fill out the details asked in the self-inspection form like the damage to the car, etc.
A surveyor will evaluate the car to confirm the damages.
Choose the cashless claim method.
Submit documents like address proof, ID proof, claim form, IFR, etc.
Once the claim is registered, you can track it online and take your car to the cashless garage for repairs.
Documents Needed for Car Insurance Claims in Ludhiana
Here is a list of all the documents that you must submit to make an insurance claim:
Copy of driver’s licence
Copy of policy documents
Originals keys of the vehicle
Copy of registration certificate (RC)
The claim form must be filled accurately and signed
No trace report from police (for stolen vehicles)
NOC and Form 35 (for cars on loan)
Repair bills for reimbursement claim.
RTO transfer papers signed along with form 28, form 29, and form 30.
Tata AIG Cashless Network Garages for Car Insurance in Ludhiana
A cashless insurance claim facility allows the policyholders to get their car repaired from a garage without paying for any expenditure. Cashless network garages have a tie-up with the insurance provider, like Tata AIG. These garages allow the policyholders to get their vehicle repaired free of cost in case of an accident, damage, etc.
All the expenses of the repair are borne by the insurance company, which they pay to the garage directly after the service is provided. It is essential to mention that the cashless garage networks are applicable only when you buy comprehensive Tata AIG car insurance in Ludhiana.
One must also remember that cashless garage networks may be available in some cities and may not be available in others.
It is recommended to contact the Tata AIG helpline services or visit the website to find out the list of cashless garage networks before purchasing new car insurance.
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.