Comprehensive Car Insurance Policy
Comprehensive Car Insurance
In India, it's not just a matter of choice but a legal obligation to have third-party four-wheeler insurance. So, before you even contemplate cruising through the city streets, you must ensure you have this vital shield in place. After all, no one wants the legal implications of not having an insurance plan in place.
Yet, beyond mere compliance, a 4-wheeler insurance policy promises a comprehensive umbrella for your beloved vehicle. Imagine a protective cocoon that not only shields you from legal troubles but also embraces your car with all-around protection against unforeseen perils. Yes, you guessed it right — the extraordinary Comprehensive car insurance!
With the best comprehensive car insurance, you're not just getting a safety net but offering your prized possession a protection suite. And oh, the peace of mind that comes with it! You can confidently ride with comprehensive insurance, knowing that even the most unexpected incidents won't throw you off track.
At Tata AIG, we strive to make car insurance not just a necessity but an accessible and enjoyable experience. We offer an array of comprehensive motor insurance policies designed to cater to your needs and budget.
Also, we understand that finding the perfect car insurance can be overwhelming, but fear not! With us, the process becomes a breeze. Our user-friendly platform allows you to compare car insurance options online, empowering you to make an informed decision from the comfort of your home.
Explaining Comprehensive Car Insurance Meaning
Comprehensive insurance (full coverage) is the ultimate shield, safeguarding your precious vehicle from life's uncertainties. It stands against the onslaught of unforeseen events caused by theft, fire, floods, burglary, earthquakes, and more, protecting you from potential financial losses.
Comprehensive insurance goes beyond just covering your vehicle. It also extends its benevolence to others, providing coverage for third-party liabilities. Whether it's bodily injury, disability, or property damage caused to a third party, you can rest assured that your comprehensive policy covers you.
And that's not all!
Comprehensive vehicle insurance embraces you as the owner-driver too. In the unfortunate event of an accident, it offers personal accident cover, providing financial support to you or your family in case of injury or death. It's like having a guardian angel watching over you as you navigate life's roads.
With comprehensive insurance, you can also add enticing add-ons to your policy, tailoring it to suit your unique needs and preferences. Opting for the right add-ons will enhance your comprehensive car insurance coverage.
Why Should You Go for Comprehensive Car Insurance?
Here's why you should purchase comprehensive insurance for your four-wheeler:
Safeguard Against Third-Party Liabilities
One of the primary reasons to opt for comprehensive car insurance is its coverage for third-party liabilities. In the unfortunate event of an accident caused by you, the policy will take care of the financial obligations arising from bodily injuries, disabilities, or property damages suffered by others involved in the accident. It means you can drive confidently, knowing you are protected from potential legal and financial repercussions.
Protection for Your Car
Comprehensive car insurance protects your beloved vehicle from various perils. Whether it's damages caused by theft, fire, burglary, earthquakes, or even floods, your policy is a robust fortress, ensuring your car remains safe and sound. Whatever nature throws your way, your cherished possession remains shielded from potential financial losses.
Personal Accident Cover
Comprehensive insurance cares for your car and you as the owner-driver. In the unfortunate event of an accident, the policy offers personal accident cover, providing financial support to you or your family in case of injury or death. This added layer of protection provides mental satisfaction, knowing that you and your loved ones are well-taken care of, no matter what happens on the road.
Complete Peace of Mind
Embracing comprehensive car insurance brings a sense of security and tranquillity to your car ownership experience. With all-around protection, you can bid farewell to worries about unexpected expenses and uncertainties that may arise while driving. Instead, you can focus on enjoying the freedom of the open road without the shadow of potential financial burdens looming over you.
Customisation with Attractive Add-ons
Comprehensive insurance offers the flexibility to customise your policy with various attractive add-ons. You can enhance the base coverage by opting for extras such as zero depreciation cover, no-claim bonus protection, emergency roadside assistance, and more. These add-ons cater to your unique needs and preferences, allowing you to create a personalised insurance plan that fits your lifestyle perfectly.
Things Included and Not Included under Comprehensive Car Insurance
Have you ever found yourself pondering what lies within the folds of a car insurance policy? Have you ever been caught off guard by unexpected exclusions when filing a claim? Fret not, for we have embarked on a quest to unravel the mysteries for you.
We have compiled a comprehensive list of major inclusions and exclusions for our car policy online and offline to help you understand the extent of coverage and limitations offered.
|Things Included under Comprehensive Car Insurance||Things Not Included under Comprehensive Car Insurance|
|In case your car is stolen or suffers severe accidental damage beyond repair, the insurance company will pay you the Insured Declared Value (IDV) of your car, its total market value.||The insurance policy does not cover damages caused while driving without a valid licence or under the influence of intoxicating substances.|
|This policy covers minor and major accidental damages and will compensate you for the repair costs.||The comprehensive car insurance policy does not cover damages outside the geographical area, such as driving a four-wheeler outside India.|
|The comprehensive car insurance policy also provides coverage against damages caused by natural disasters such as earthquakes, floods, and cyclones.||The policy does not cover damages caused by ordinary wear and tear due to regular daily use, including depreciation or costs associated with general vehicle maintenance. Additionally, only 50% of the replacement cost for consumables due to wear and tear is reimbursed.|
|The own damage cover or comprehensive car insurance policy will protect your car against damages caused by fires resulting from explosions, self-ignition, and damages due to human causes like terrorism, vandalism, and strikes.||The comprehensive car insurance policy does not cover damages caused due to the driver's negligence.|
|The comprehensive car insurance policies include coverage for third-party damages. It covers damage to third-party property and injuries or death of a third-party person.||If a private vehicle is used for commercial purposes, the insurance policy may not cover any damages during such usage.|
|Comprehensive car insurance policies include a personal accident cover worth ₹15 lakhs. It protects the owner-driver by covering medical costs for injuries due to accidents and the cost of transporting the injured owner-driver to the hospital. If the owner-driver passes away due to an accident, the amount is paid to a selected beneficiary.||While the car is engaged in speed racing, adventure sports, or similar activities, damages are excluded from the comprehensive car insurance coverage.|
|The insurance company offers a list of add-ons for your comprehensive car insurance policy. These add-ons provide additional protection against specific damages or risks.||The insurance policy does not cover damages caused to the car due to war or war-like instances in the country and damages resulting from a nuclear threat.|
Comprehensive Car Insurance vs Third-Party Car Insurance: A Comparative Analysis
When choosing between comprehensive and third-party car insurance for your four-wheeler, consider the following points to make an informed decision:
|Parameters||Comprehensive Car Insurance||Third-Party Car Insurance|
|Coverage||Provides extensive coverage against third-party damages, theft, total loss, natural disasters (e.g., fires, cyclones), and human causes (e.g., riots, vandalism).||Protects against all third-party financial damages, including damage to a third-party vehicle or injuries to or death of a third-party person, and covers legal liabilities due to third-party damage.|
|Add-ons/Riders||Offers 12 different add-on covers to enhance coverage and protect specific damages to the insured four-wheeler.||It cannot be enhanced with add-ons, as it solely protects against third-party financial and legal damages.|
|Cost||More expensive than third-party car insurance due to its broader coverage against various types of damage.||It is less expensive than comprehensive car insurance as it only protects against damages to a third party.|
|Injury to a Third-Party Person||Provides legal and financial protection against injuries to a third-party person caused by the insured car, including coverage for the death of a third-party person.||Offers protection against all third-party damages, including financial and legal liabilities arising from injuries or death of a third-party person due to the insured vehicle.|
|Damage to Third-Party Vehicle/Property||Covers any legal or financial damage to a third-party car or property caused by the insured car.||Covers all legal and financial damages to any third-party vehicle or property caused by the insured four-wheeler.|
|Insurance Policy Customisation||Allows the customisation of coverage to meet individual needs. Customers can compare policies, add add-ons, and obtain suitable car insurance quotes online.||It provides standard coverage based on car insurance rates for the year set by the Insurance Regulatory and Development Authority of India (IRDAI) and the cubic capacity of the car.|
Comprehensive Car Insurance Add-Ons/Riders
Tata AIG offers a comprehensive set of 12 add-on benefits that you can include in your car insurance policy to enhance coverage and address specific needs**
Zero Depreciation This add-on covers the depreciation cost deducted from your car's parts during claims, excluding the first two claims from the depreciation deduction.
No Claim Bonus Protection With this add-on, you can file a fixed number of claims in a policy year without affecting your accumulated No Claim Bonus discount.
Roadside Assistance Provides help in case of a car breakdown in sparsely populated areas by arranging fuel supply, towing, or repairs.
Return to Invoice This covers the difference between the car's purchase price and compensation due to depreciation and may cover the gap for a new car of the same make and model.
Repair of Glass Fiber and Plastic Parts Covers damages to glass, fibre, and plastic parts without affecting the No Claim Bonus discount, with one claim allowed per policy year.
Daily Allowance Provides compensation for travel expenses when your car is under repair for an extended period.
Emergency Transport and Hotel Expenses Offers financial support for overnight accommodation and commuting expenses if your car is damaged during a journey.
Key Replacement Covers replacement costs for lost car keys to prevent potential car theft.
Engine Secure Covers repair or replacement costs for the engine if damaged by water, ideal for flood-prone areas.
Tyre Secure Covers financial damages to car tires or tubes due to accidental damage.
Consumable Expenses Covers the cost of replenishing consumables like gearbox oil, nuts & bolts, oil filter, etc., during claims.
Loss of Personal Belongings Covers the loss of personal belongings such as CDs, audio and video tapes, and clothes in case of an accident. Remember that certain exclusions may apply to specific add-ons, and coverage for personal belongings like money, watches, jewellery, and credit/debit cards is not included.
Factors Determining Comprehensive Car Insurance Premium
In this subsection, we will delve into the essential factors that insurance providers consider when determining the cost of your comprehensive car insurance. By grasping these factors, you can gain insights into the pricing structure and potentially optimise your coverage while keeping the premiums within your budget.
Here are the key elements that shape your comprehensive car insurance premium.
Make, Model, and Variant of the Car The cost of the car, determined by its make, model, and fuel variant, significantly impacts the insurance premium. Expensive or premium cars tend to have higher premiums than more affordable models.
Registration Date and Location The car's age, represented by the registration date, affects its value due to depreciation. Older cars generally have lower premiums. Additionally, the city of registration plays a role, with urban areas having higher premiums due to increased risks and repair costs.
Insured Declared Value (IDV) The IDV is the maximum claim amount for theft or total loss, calculated by deducting age-based depreciation from the car's actual cost. Higher IDV leads to higher premiums for comprehensive policies.
Add-ons Selected Add-ons provide additional coverage benefits, but each comes with an additional premium. Including add-ons in the policy increases the overall premium.
Available No Claim Bonus (NCB) Accumulated NCB allows policyholders to claim premium discounts when renewing their comprehensive car insurance policy, rewarding them for claim-free years.
Driving Record and Claim History A clean driving record and claim history reflect lower risk, leading to potential premium discounts. Conversely, a history of multiple claims may result in higher premiums.
By understanding these factors, car owners can make informed decisions while choosing the right comprehensive car insurance policy that suits their needs and budget.
How to Calculate Comprehensive Car Insurance Premiums
Calculating the premium for a comprehensive car insurance policy may seem daunting, but fear not - Tata AIG is here to make it a breeze! By breaking it down into manageable steps, we ensure you understand the components of the calculation.
Determine the Insured Declared Value (IDV) To begin, calculate the IDV of your car by considering the list price and the cost of accessories. Once depreciation for both the vehicle and its accessories is deducted, the IDV is derived.
Assess No Claim Bonus (NCB) and Other Discounts Refer to the NCB table to determine the NCB discount applicable to the Own Damage component. Additionally, consider any insurer-declared discounts applicable to the car insurance renewal premium.
Calculate Own Damage Premium Using the formula [Insured Declared Value * Insurer’s Premium Tariff] + [Add-ons] - [NCB discount], calculate the Own Damage premium for your car insurance policy.
Determine Third-Party Cover Tata AIG's third-party car insurance cover is calculated based on your car's cubic capacity, per the Insurance Regulatory and Development Authority of India (IRDAI) rates. Check the prevailing rates for your engine's cubic capacity.
Evaluate the Total Cost of Add-ons The add-ons you select will contribute to the policy premium. Determine the cost of each add-on or the total cost of all the add-ons combined.
To sum it up, the comprehensive car insurance premium is calculated as follows**
|[Own Damage Premium] – [No Claim Bonus + Discounts] + [Cost of Add-ons] + [Third Party Premium as Fixed by IRDAI]|
Complicated? Not with Tata AIG!
We provide an online car insurance premium calculator that simplifies the process. You can calculate your car insurance premiums hassle-free with simple steps:
Enter your Car Registration Number.
Click on 'Get Price' for a new policy or 'Renew' for the Tata AIG car insurance renewal premium calculator.
Provide the required information, and with a click on 'Get Quote,' you'll have your car insurance cost at your fingertips.
Top Reasons to Choose TATA AIG for Comprehensive Car Insurance
At Tata AIG, we don't just offer comprehensive car insurance; we deliver peace of mind. Our comprehensive coverage and dedication to customer satisfaction set us apart as a trusted partner on your car ownership journey.
With us by your side, you can drive with confidence, knowing that your prized possession is protected under the vigilant care of Tata AIG.
Unbeatable Premium Offers Choosing Tata AIG's comprehensive car insurance policy has the added benefit of saving more on your insurance premium. We offer attractive discounts online, ensuring that protecting your car from potential damages doesn't weigh heavily on your pockets!
Extensive Cashless Network Garages With a vast network of over 7500 garages spread across the country, finding the nearest one to your location becomes a breeze. Rest assured, if your car needs repairs, we'll pay the payment settlement directly with the network garage, making the process hassle-free.
Roadside Assistance Cover We understand the inconvenience of a car breakdown, so our Roadside Assistance Cover comes to your rescue. Offering on-spot repairs and towing facilities to the nearest network garage, we ensure you get back on the road quickly. Just call our Roadside Assistance number at 1800 266 7780.
Happy Customers Count Our commitment to delivering quality services has earned us a content customer base of over five crores. We strive to maintain the same level of service excellence, ensuring our customers' satisfaction remains at the forefront of everything we do.
Streamlined Claim Intimation Filing a comprehensive four-wheeler insurance claim is easy with our simple claim intimation process. We've designed it to be quick and user-friendly, so you can settle your claim online in just a few easy steps, giving your car the protection it deserves.
High Claim Settlement Ratio Tata AIG boasts an impressive claim settlement ratio of 98% during FY 2020-21. It speaks volumes about our commitment to efficient and swift claim settlements. With our car insurance policy, we guide and support you throughout the claim settlement process, ensuring no delays.
How to Purchase a Comprehensive Car Insurance Policy with Tata AIG Online
Prepare to embrace the open road with unwavering confidence, for Tata AIG's comprehensive car insurance is your ultimate co-pilot on this thrilling voyage. As you set your sights on new horizons, let the wind carry you, knowing that you've chosen a partner committed to safeguarding your dreams with utmost dedication.
Embark on this exhilarating journey to secure your ideal policy, following these steps that make the process a seamless adventure
Prepare for Takeoff Open your internet browser and navigate to Tata AIG's official website. Once you've arrived at the website, steer straight to the Car Insurance section.
Personal Details Share your personal information, including your name, contact details, and address. These details are essential for processing your insurance application and generating personalised policy documents.
Car Details Unveil the unique characteristics of your beloved bike - its make, model, variant, manufacturing year, registration number, and other relevant details. By providing these insights, we can tailor the premium and coverage to suit your car's needs perfectly.
Review and Customise Your journey doesn't end with filling in the details; it's time to navigate the course of your policy. Review the policy details, coverage limits, deductibles, and premiums. Make necessary customisations based on your preferences, ensuring your chosen policy aligns perfectly with your requirements.
Smooth Payment The road to comprehensive coverage is paved with convenience. Proceed to the payment stage, where you can choose your preferred method. Whether through net banking, debit/credit cards, or digital wallets, paying for your chosen policy is a breeze.
Policy Issuance Like a cherished map, your car insurance policy documents will be carefully crafted and issued. These documents will be sent to your registered email address or made available for download on our website. Take a moment to review and save them, for they will be your trusted companions on this voyage.
Renewal Reminders Remember to keep track of your car policy's expiry date as you cruise through life's adventures. Set reminders to ensure timely renewal, and we will make the process effortless with easy online renewal options. By renewing before it lapses, you provide continuous coverage, ready to embrace the unknown confidently.
“I've been a proud Tata AIG comprehensive car insurance customer for the past five years, and I can't emphasise enough how satisfied I'm with their services. Last year, my car was involved in a minor accident, and I was worried about the claim process. But to my delight, Tata AIG's team was extremely prompt and helpful. From guiding me through the claim intimation process to arranging for the car's repairs at a nearby network garage, they ensured a seamless experience. I highly recommend Tata AIG for its outstanding service and comprehensive coverage.”
~ Rajesh Sharma
“Recently, I faced a situation where my car was stolen, and I was devastated. However, my worries soon faded when I remembered I had Tata AIG comprehensive car insurance. The claims process was no-fuss; the customer support team was empathetic and proactive in assisting me throughout the ordeal. Tata AIG promptly settled the claim. Tata AIG has earned my trust, and I will continue to be a loyal customer for years to come."
~ Sneha Patel
“I can't thank Tata AIG enough for the peace of mind they have brought into my life as a car owner. With their comprehensive car insurance, I no longer worry about unexpected expenses in case of accidents or damages to my car. Last year, during heavy rains, my car was damaged due to flooding. I was relieved that I was covered under my Tata AIG policy. The claims process was swift, and their team ensured that my car was repaired at a network garage without any hassle. I highly recommend them to anyone seeking comprehensive car insurance.”
~ Priya Malik
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.
How is insurance calculated for a new car?
1. How is insurance calculated for a new car?
You can use a new car insurance calculator to calculate the insurance for your new car on the Tata AIG official website. To get the insurance for the new car, enter your details on the calculator as required, and you can get a quote for your new car insurance quickly in 3 simple steps.
2. What is a car insurance premium calculator?
A car insurance premium calculator is a free online tool provided by your car insurance provider, which helps you get the most suitable car insurance premium quotes for your vehicle. Tata AIG’s simple and time-saving insurance premium calculator helps you choose the right car insurance premium to be paid so that you get appropriate insurance cover for your car.
3. I want to get online quotes for my car; from where can I get it?
By visiting the official website of Tata AIG, you can calculate the insurance for your new car and get online car insurance quotes. All you need to do is fill in some basic details of your car, such as the car manufacturer’s name, the model number, the registration details, etc., as well as your mobile number. In three simple steps, the car insurance premium calculator will quickly process the information to give you the aptest quotes for your car insurance.
4. Where can I find a car insurance calculator?
You can visit the Tata AIG official website and find our car insurance calculator for your convenience. In a few prompt and easy steps, you can use the car insurance premium calculator to understand how you can pay an appropriate amount of premiums to protect your car.
5. Can I use a car insurance premium calculator at the time of insurance renewal?
Yes, you can use a car insurance policy calculator during the renewal of your car insurance policy. During the car insurance renewal process, the car policy premium calculator lets you add or remove the add-on coverage to your policy, adjust the coverage amount and also make use of your No Claim Bonus discount.
6. What is the importance of a car insurance premium calculator?
A car policy premium calculator is important because it helps you understand which factors actually affect your car insurance premium and how a change in these variables can affect the calculation of your car insurance premium.
When it comes to buying or renewing your car insurance policy, you can save a lot of time that would be otherwise spent in looking up the insurance quotes of different companies and comparing them. A car policy premium calculator does the same in a matter of minutes while providing accurate results.
The insurance premium calculator helps you in selecting a suitable policy for your car so that you either don’t end up with inadequate coverage for your vehicle or don’t have to pay hefty and unaffordable premiums to upkeep your policy.
7. What are some effective tips to reduce car insurance premiums?
One of the most effective ways to reduce your car insurance premium is to calculate the IDV of your car properly. This results in you paying an affordable premium while ensuring that your vehicle receives the right amount of insurance coverage. Also, if your car has safety and anti-theft devices installed in it, this brings down the insurance premium as the risk of your car being stolen is lower.
It is also wise to avoid filing claims for small damages to your car so that you can accumulate the No Claim Bonus discount on your car insurance policy during the policy year. This discount on premiums ensures lower premiums when you renew your policy or even when you purchase a new one. Among the many other ways to keep your car insurance premium affordable, one of the most common ones is to opt only for the add-ons that are essential. By choosing only necessary add-ons, you get better coverage for your car at a nominal cost.
8. How to calculate car insurance premiums in India?
In India, you can get a third-party car insurance policy or a comprehensive car insurance policy. Third-party car insurance is a mandatory car insurance policy that only covers the damages to a third-party vehicle or person. The premium rates are determined by the IRDAI (Insurance Regulatory and Development Authority of India) based on the cubic capacity of a car.
However, a comprehensive car insurance policy includes third-party cover as well as Own Damage (OD) cover. The OD premium is, therefore, calculated with this formula:
Insured Declared Value x rate of premium as specified by the insurer + add on benefits - discounts = OD Premium.
Likewise, you can calculate the insurance premium of a car with a price calculator in India. The use of a car insurance calculator in India has increased due to its ability to provide quick and hassle-free results. Our Tata AIG car insurance calculator helps you get instant quotes in three quick steps.
9. Does the car model affect the cost of a car insurance premium?
Yes, the car model is one of the important factors that go into calculating your car insurance premium. Based on the model of the car, the Insured Declared Value or IDV is calculated, which is the current market value of your car. This, in turn, determines the amount of insurance coverage your car should have. If the IDV is higher, the premium costs will also increase.
10. How to calculate the insurance premium for second-hand motorcars?
If you want to calculate the car insurance premium for second-hand motor cars, then you can use the Tata AIG car insurance online calculator on our official website. All you need to do is
- Mention the registration number of your car and click on “Get Price”.
- Fill in the car’s name, variant and brand and proceed to the next page.
- Add a few more details of your car, any previous insurance policy and your number and then get instant car insurance premium quotes.
Is getting comprehensive car insurance for an older car worthwhile?
Whether to invest in comprehensive car insurance for an older car depends on several factors, such as the car's age, usage, and the owner's long-term plans. Considering a comprehensive plan is prudent if the car is under 15 years old and is still in regular use. Opting for comprehensive coverage provides maximum security and ensures peace of mind, regardless of the car's age.
When is the optimal time to purchase comprehensive car insurance?
When you step into car ownership, a crucial responsibility awaits you - having a car insurance policy. While a third-party liability cover may be mandatory, it's essential to elevate your protection to the next level with comprehensive car insurance before venturing onto the roads of India. Comprehensive car insurance is an impenetrable shield, offering you and your beloved vehicle unparalleled financial safety.
Who should opt for comprehensive car insurance?
Here is the list of people who should definitely purchase a comprehensive car insurance policy: New Car Owners: Protect your investment by opting for comprehensive car insurance, ensuring complete vehicle protection from various risks.
Avid Travellers: Comprehensive coverage is a must if you love exploring different places by car. It offers protection during emergencies and includes valuable add-ons like roadside assistance. Metropolitan City Dwellers: Residents of bustling cities like Kolkata, Bangalore, Delhi, Mumbai, etc., should opt for comprehensive insurance due to higher traffic and accident risks.
High-Risk Area Residents: Those living in areas prone to accidents or dangers, like mountainous regions with landslides, should secure their vehicles with comprehensive car insurance.
Expensive Car Owners: Owners of luxury cars like Ferrari, BMW, Audi or Porsche should safeguard their prized possessions with comprehensive coverage to mitigate the financial impact of theft or accidents.