Mitsubishi Lancer Car Insurance

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Mitsubishi Lancer Car Insurance

Mitsubishi is a Japanese car manufacturer that launched the Lancer - a luxury compact sedan that was known for its cool looks and performance. Mitsubishi Lancer was launched in India in 1998, and it did pretty well in India, and probably the only Mitsubishi car that was successful in the Indian market.

The Lancer came with a 1.5-litre petrol engine and produced 85hp of power and 132Nm of torque. It also had a 2.0-litre diesel variant that produced 68hp of power and 122Nm of torque. Back in 1998, Lancer was a sedan that came with a power steering, air conditioner, power windows, adjustable steering, and power-adjustable rear-view mirrors. All these features may seem very basic now, but in 1998, they were nothing short of luxury.

Mitsubishi Lancer, after its days of glory, has been discontinued in India. The last model was sold back in 2012. However, many automobile enthusiasts still possess the Lancer, and many still want to own it from the second-hand market. The Lancer still has the classic car charm and looks fabulous after some modifications. But if you are planning to take a Mitsubishi Lancer for yourself, make sure you also get vehicle insurance.

Here is a Brief Idea About Car Insurance

Car insurance is an agreement between car insurance providers and the car owner that protects the vehicle in the event of financial losses introduced by unforeseen circumstances like natural calamities or accidents. While traversing on-road driving your four-wheeler, it is likely to fall into the trap of a road accident, despite being careful. Any road accident can damage your car, resulting in heavy repair bills. Four-wheeler insurance can help you pay such bills and reduce the load on your pocket.

There are different kinds of vehicle insurance — third-party car insurance, comprehensive car insurance, and standalone own damage cover. In India, owning at least third-party insurance to take your car on the road is compulsory.

Third-party insurance takes care of the legal liabilities in case your vehicle injures a third-party person or damages third-party property. On the other hand, comprehensive car insurance offers third-party liability coverage and protects your car against any other financial damage caused due to accidents, theft or natural calamities, etc. In addition, you can invest in a Personal Accident Cover that will provide coverage for self-injuries or physical damage incurred during an accident.

Today you can purchase customised car insurance online with merely a few clicks as you require. Tata AIG offers a wide range of car insurance options online to help you select the kind of insurance coverage your four-wheeler requires.

Therefore, if you are looking for a Mitsubishi car insurance or Mitsubishi car insurance renewal, you can visit the Tata AIG website and accomplish the needful within minutes.

Mitsubishi Lancer Car Insurance Renewal/Buy via Tata AIG

With Tata AIG, the purchase and renewal process of Mitsubishi insurance is easy and quick. A simple online process is all you require to book your Mitsubishi motor insurance. You can also visit the closest Tata AIG office to book your Mitsubishi Lancer insurance. However, digital is always more straightforward, convenient, and quicker. To buy or renew your Mitsubishi car insurance at low premium rates, you should follow the following steps one after the other.

  • Step 1: Visit the Tata AIG website and head to the "Car Insurance" section. Enter your Mitsubishi Lancer registration number if the provided box. If you want a new Mitsubishi Lancer insurance, click the "Get Price" option. And, if you wish to renew your Mitsubishi Lancer insurance, click on the 'Renew Existing Tata AIG policy' choice.

  • Step 2: Fill the appeared form correctly on your screen with the required details. Input the necessary details accurately to avail of the most suitable quote.

  • Step 3: Select the correct IDV for your Mitsubishi Lancer from the available drop-down list. Also, mention if you have previously availed of a claim on your Mitsubishi Lancer insurance. If not, you will be entitled to receive a No Claim Bonus or NCB from Tata AIG.

  • Step 4: To know your Lancer car insurance price, go through the insurance riders available and select the ones you would like to add to your car insurance. Once done, click on the "Submit" button. You will have the Mitsubishi Lancer insurance cost showing on your screen. There are several digital payment modes available, using one of which you can pay. Select the one convenient for you and pay for your Mitsubishi Lancer insurance.

  • Step 5: Once the payment is processed, Tata AIG will send across a soft copy of your Mitsubishi insurance to your registered email and WhatsApp. Download a copy and keep it in your car for emergencies.

Mitsubishi Lancer Car Insurance Price – Your Premium Amount

The premium of your Mitsubishi Lancer car insurance is determined by multiple factors:

1. Insured Declared Value

The IDV of a car is the current market cost of your four-wheeler. The IDV is the amount paid to the car owner in case of theft or if it suffers damage beyond repair in an accident or similar circumstance. Considering depreciation, you must fix the IDV for your Mitsubishi car insurance policy. Premium rates are higher for a car with a high IDV. However, do not aim to get a very low IDV to cut short on the premium, as it would result in a low car insurance claim in case of thievery.

2. The Car's Cubic Capacity

Third-party car insurance is a mandatory four-wheeler insurance fixed by India's government. Therefore, the Insurance Regulatory and Development Authority of India (IRDAI) determines the third-party car insurance cost based on the Mitsubishi Lancer's cubic capacity.

3. No Claim Bonus / NCB

The insurance providers offer discounted premium rates at the time of renewal for every claim-free year. It is known as the No Claim Bonus. When renewing your car insurance, you can apply a discount to the premiums. If you have a past where you haven't filed for claims for many years, you can avail of up to 50% discounts on premiums.

4. Brand, Model, and Variants

If you desire to purchase car insurance for an expensive car, the premiums will be high. The kind of car you own, fuel tank, engine capacity, etc., play a vital role in determining the insurance premium amount for your four-wheeler.

5. Geographical Location

The premium cost of your car insurance will also be affected by your place of residence. For anyone who resides in an urban location, their car would constantly be exposed to risks on the roads. Therefore, the premium rates for cars in urban locations would be high. Likewise, when you reside in a rural area, exposed to lower risks, the premiums are low.

6. Chosen Fuel Type

Cars that run on diesel are more expensive than the ones that run on petrol. This factor also affects the premium rate. Diesel cars demand more maintenance, and insurance for such vehicles comes with high premium rates.

7. Car's Age

The depreciation of a car depends on how old it is. Therefore a car's age also affects its insurance premium. The IDV of a vehicle lowers due to depreciation with time, and so does the insurance price.

8. Add-ons

Insurance add-ons are great ways to enhance car insurance and offer extended coverage for specific situations. However, every add-on comes with an added cost. Therefore, the more add-ons you choose, the higher the premium rates.

Add-ons for Mitsubishi Lancer Car Insurance by Tata AIG

Add-ons provide you with added coverage along with your car insurance. Tata AIG brings you 12 add-ons to further enhance your Mitsubishi car insurance. You can select the ones you prefer depending on your requirements:

1. No Claim Bonus Protection

The NCB protection enables the policyholder to file specific claims throughout the year while retaining the NCB bonus. It is a beneficial add-on for you if you wish to avail of the NCB discount even if you have filed a claim. You can purchase the NCB protection add-on only with a comprehensive insurance policy.

2.Roadside Assistance

The roadside assistance add-on provides 24*7 breakdown assistance to the insured four-wheeler. If your car ever breaks down in the middle of nowhere with no help close by, you can avail of this add-on. The insurance provider will send a trained team to help fix your car.

3. Repair of Plastic Parts and Glass Fiber

With this add-on, you can claim the repair cost of your car's damaged fibre, glass, and plastic parts. Additionally, it does not affect your car's NCB. However, for each year, only a single insurance claim is allowed against the comprehensive car insurance plan.

4. Daily Allowance

The daily allowance add-on provides travel costs in the absence of your car if it meets an accident and stays in a garage for repairs. Subject to the insurance claim, the travel amount is payable for 10 to 15 days.

Daily Allowance Plus is now available, in place of discontinued Daily Allowance & Courtesy Hire Car covers with effect from 3rd June’24. T & C apply.

5. Emergency Transport and Hotel Expenses

Suppose your four-wheeler gets into an accident, and you get stuck in the middle of your way. In that case, this add-on pays for emergency overnight accommodation costs at a hotel along with your travelling charges back home or to the closest place to your destination.

6. Key Replacement

This add-on covers the car key replacement cost if you lose your car key.

7. Engine Secure

The secure engine add-on secures the most expensive part of your car - its engine. If you reside in a flood-prone location, this add-on helps claim the engine replacement or repair cost without extra charges. Comprehensive car insurance policies do not offer engine protection. Also, this add-on does not apply to old car engines that have degraded due to daily wear and tear.

8. Tyre Secure

This add-on helps cover the replacement or repair cost of the damaged tyre of your car. It only allows a claim in case of damage to or loss of the car tyre.

9. Consumable Expenses

The consumable expenses add-on covers the cost of your car consumables that your insured car loses due to any accident. Car consumables covered by this add-on include engine oil, air-conditioner gas, not & bolt, gearbox oil, oil filter, etc. Remember, this add-on does not cover the fuel cost of your car.

10. Loss of Personal Belongings

If you lose any personal belongings like clothes, audio tapes, CDs, video tapes, etc., in case of an accident, this add-on covers the loss. However, it does not offer coverage for items like watches, money, credit cards, debit cards, jewellery, etc.

11. Return to Invoice

If you file a complete damage or theft claim, this add-on helps to cover the depreciation difference in the cost between the compensation amount and the purchase price. In addition, if a new model of the same car is available, we will reimburse the difference between the cost of the new model and the claim amount. The car's registration charges and road tax amounts will also be payable.

12. Zero Depreciation

The zero depreciation add-on helps you claim the deducted depreciation cost of your car parts when you file for a claim. Therefore, you will get the complete insured sum without depreciation or deduction. However, you can avail the benefits for the initial two claims you file. Also, this add-on is applicable only for comprehensive or own-damage car insurance plans.

A Comprehensive Mitsubishi Lancer Car Insurance from Tata AIG: Inclusions and Exclusions

Things Covered under Mitsubishi Lancer Car Insurance Things Not Covered under Mitsubishi Lancer Car Insurance
Reimbursement for the Insured Declared Value (IDV) or total market value of the car if the car is stolen or damaged beyond repair due to an accident.  Coverage for damages the vehicle suffers outside the defined geographic borders (outside the region of India) 
Financial protection against damages caused by natural disasters like snowfall, floods, and earthquakes. Mechanical/electrical breakdown and general wear and tear due to age. 
Personal Accident cover of up to ₹15 lakhs for the car’s owner-driver.  Accidental damages caused by driving the vehicle under the influence of drugs or alcohol. 
Cover damages caused to third-party persons, vehicles, or property in accidents involving the insured vehicle. Damages suffered due to crash testing, speed racing, etc., or using a private vehicle for commercial purposes.
Financial protection against damages caused by man-made calamities like terrorist attacks, strikes, and fire. Damages caused in accidents while driving without a valid driver’s licence.
Damages to the car when it  is in transit via waterways, roadways, airways, or railways. Damages caused under a specific add-on in the absence of the add-on.

Why Tata AIG is Ideal for Your Mitsubishi Lancer Car Insurance?

Having Tata AIG car insurance or your Mitsubishi Lancer is essential, as it brings numerous benefits, such as the following.

1. Buy your car insurance policy online - To purchase a car insurance policy online with Tata AIG, all it takes are a few easy steps. You can browse through the available plans, select the well-suited ones per your requirements, and make a purchase. Once you pay the premium, the policy documents are forwarded to your registered email address.

2. Customizable with add-ons - You can enhance your comprehensive car insurance by adding any or all of the 13 add-on covers available.

3. Widespread network of garages - With Tata AIG, you can avail of cashless claims on car repairs. There are over 7,500 garages across India where you can enjoy the benefits of a cashless claim. In addition, if you visit a garage of your choice, we will settle your reimbursement claim.

4. Easy claim process - Tata AIG offers an easy and convenient online insurance claim process. You can visit the website, click on the "Claims" section and fill out the claim form. You can initiate the claim process once you input basic details like policy number, incident details, contact details, etc.

5. Secure your four-wheeler - The Tata AIG car insurance policies help protect your car from numerous damages, including robbery, accidental injuries, natural or man-made calamities, etc.

6. Claim settlement ratio - Tata AIG has settled up to 98% of claims in the 2020-2021 financial year. With Tata AIG, you can be reassured of a hassle-free claim process.

Overview - Mitsubishi Lancer Car Model

Mitsubishi Lancer is a dependable, affordable compact sedan that presents a sporty look. Mitsubishi Motors, the renowned Japanese Auto manufacturer, launched Mitsubishi Lancer in the Indian market and Hindustan Motors as a joint venture. Though Mitsubishi Lancer withdrew from the Mitsubishi lineup in 2017, it still garners the attention of four-wheeler enthusiasts. This four-wheeler is a luxurious vehicle loaded with advanced features.

Mitsubishi Lancer is a reliable vehicle for day-to-day use. It comes with good acceleration and straightforward controls and offers smooth rides even on bumpy roads. From a historical point of view, Mitsubishi Lancer is one of the fastest four-wheelers created by Mitsubishi. Mitsubishi Lancer is a great buy for anyone willing to own a classy, well-performing four-wheeler.

Mitsubishi Lancer Price and Variants

Mitsubishi Lancer Variants Mitsubishi Lancer Price 
Lancer 1.5 CNE ₹7.33 Lakh
Lancer 1.5 CNX ₹7.33 Lakh
Lancer 1.5 Exel  ₹7.33 Lakh
Lancer 1.5 GLXi ₹7.33 Lakh
Lancer 1.5 Gli ₹7.33 Lakh
Lancer 1.5 L Petrol LX ₹7.33 Lakh
Lancer 1.5 LEi ₹7.33 Lakh
Lancer 1.5 LXi ₹7.33 Lakh
Lancer 1.5 SFXi ₹7.33 Lakh
Lancer 1.5 XLi ₹7.33 Lakh
Lancer 1.8 Invex AT ₹7.33 Lakh
Lancer 1.8 LEi ₹7.33 Lakh
Lancer 1.8 LXi   ₹7.33 Lakh
Lancer 1.8 SFXi ₹7.33 Lakh
Lancer 1.8 XLi ₹7.33 Lakh
Lancer SLXi ₹7.33 Lakh
Lancer 2.0 Exel ₹8.13 Lakh
Lancer 2.0 GLd ₹8.13 Lakh
Lancer 2.0 Diesel LX ₹8.13 Lakh
Lancer 2.0 GLEd ₹8.13 Lakh
Lancer 2.0 LXd ₹8.13 Lakh
Lancer 2.0 SFXd ₹8.13 Lakh
Lancer 2.0 SLXd ₹8.13 Lakh
Lancer 2.0 SXd ₹8.13 Lakh
Lancer GLXD ₹8.13 Lakh

Unique Selling Points: Mitsubishi Lancer Car Features

  • 1998 cc, 4 Cylinders Inline, 2 Valves/Cylinder

  • 12.5kmpl mileage

  • Mitsubishi Lancer LXd 2.0 is also available in Manual transmission.

  • Front Suspension - Gas-filled shock absorber, stabiliser bar, and coil springs.

  • Rear Suspension - Multi-link with stabiliser bar.

  • Mitsubishi Lancer LXd 2.0 variant comes with an engine offering 68@4500 maximum power and 122@3000 maximum torque.

  • Minimum turning radius of 5.1 metres.

  • Front tyres - 175 / 80 R13

  • Rear tyres - 175 / 80 R13

  • It comes in four colours: Black Onyx, Warm Silver, Scotia White, and Simply Red.

Rivals of Mitsubishi Lancer Car

Listed below are the rival cars of Mitsubishi Lancer:

  • Ford Focus RS

  • Mitsubishi Lancer Evolution

  • Subaru WRX STI

  • Citroen C3

  • Subaru BRZ

  • Tata Punch

  • Subaru STI S209

  • Renault Kiger

  • Nissan Magnite

  • Honda WR-V

Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

Related Articles

How long would it take to renew my Mitsubishi Lancer car insurance online?

How long would it take to renew my Mitsubishi Lancer car insurance online?


Renewal of your Mitsubishi Lancer car insurance online would take merely a few minutes of your time. You are required to enter your policy details and car registration number, and with Tata AIG, you can fulfil the process in 3-4 steps.

Can I transfer my Mitsubishi Lancer car insurance if I sell my car?


Absolutely! If you decide to sell your car, you can transfer your Tata AIG car insurance to the buyer. However, the buyer would not be able to profit from your NCB.

How can I calculate the premium for my Mitsubishi Lancer car insurance policy?


You can visit the Tata AIG website and use the car insurance premium calculator to calculate the premium amount for your Mitsubishi Lancer car insurance.



All the prices and other information listed above pertain to a specific city and vehicle model. Since this information is subject to change, it is advisable to check the latest information before purchasing a vehicle or an insurance policy.