Car Insurance

File an FIR if your car is stolen, damaged due to malicious activities, involved in a major accident-causing property damage, death, or injuries to a third-party or in any other situation where it is legally required. Also, ensure that you file the FIR within 48 hours of the incident.

You may have to pay the deductible, depreciation on repaired or replaced parts (if applicable), and the cost of repairs or parts that are not covered under the policy.

We will transfer the approved claim amount to your registered bank account through NEFT.

As part of their roles and responsibilities, the surveyor will first analyse the incident and assess the extent of the damage. They will then investigate the cause of the damage, verify the required repairs, and check whether the damage is covered under your policy.

No, a longer repair timeline does not affect your claim approval.

Inform us about the damages. Our surveyor will reassess the additional damage and submit the updated report. We will process your claim based on the updated assessment.

Your claim may have been partially approved because certain repairs or parts are not covered under your policy. It may also be due to deductions such as depreciation (if the depreciation reimbursement add-on is not included) and deductibles.

You will need photos or videos of the accident location and damage caused to your car.

The basic documents, such as the claim form, your car’s registration certificate, and driving licence need to be submitted as early as possible after claim intimation.

Depending on the nature of the loss and the survey findings, additional documents may be requested after the survey. Timely submission of the documents can help speed up the claim process.

While registering your claim, our customer support team will let you know which documents are required and how they should be submitted. You can also reach out to your dedicated claim handler for the exact details.

Collect the repair estimate, invoice, and payment receipts (if applicable), and any other document we additionally request based on the nature of the claim.

As your car gets older, its value reduces due to depreciation. Since your car’s IDV is based on its current value, the IDV also reduces as the car gets older. IDV Depreciation Rates Based on Vehicle Age

The Insured Declared Value (IDV) is calculated by applying a depreciation percentage based on the age of the vehicle. The applicable depreciation rates are:

For vehicles older than 5 years or discontinued models, the IDV will be based on a mutually agreed value.

Even if two cars are of the same age, their IDV can differ based on their make, model, and variant.

Premium or luxury cars have a higher market value, which results in a higher IDV. On the other hand, budget or entry-level models generally have a lower IDV because their market value is comparatively lower.

Modifications and accessories added after purchasing your car can also affect its IDV. If you have installed items such as alloy wheels, LED headlamps, or fog lamps, their value is not automatically included in the IDV.

If you have added these accessories, you can declare them while purchasing or renewing your policy. Their value can then be considered while determining the IDV, wherever applicable.

Premium is the amount you pay to your insurance provider to keep your car insurance policy active for a specific period. In return, the insurer helps cover expenses arising from losses or damages covered under your policy.

Own damage refers to any loss or damage to your own car. It includes damage that needs repair or replacement, as well as total loss or theft.

Third-party liability refers to your legal responsibility if your car causes property damage, bodily injury, or death to another person.

Insured Declared Value is the current market value of your car after accounting for depreciation. It is the maximum amount your insurer pays if your car is stolen or declared a total loss.

A claim is a request you make to your insurance provider after your car is damaged, stolen, or causes damage to a third party. The insurer reviews the incident and compensates you by paying the expenses as applicable.

A surveyor is a representative appointed by your insurer to inspect the damage to your car after a claim. The surveyor’s report will be the basis for the insurer to process and settle your claim.

A deductible is the amount you pay from your own pocket for every claim before your insurer pays the remaining amount. Every car insurance policy has a mandatory deductible, and you can also choose a voluntary deductible. Choosing a higher voluntary deductible can reduce your premium.

Network or cashless garages are automobile workshops that have partnered with your insurance company for vehicle repairs. If you get your car repaired at these garages, the insurer settles the applicable expenses directly with the garage. You only pay any applicable deductibles or expenses that are not covered under your policy.

If you don’t make a claim during a policy year, you earn a No Claim Bonus (NCB). This gives you a discount on your own damage premium at renewal. It starts at 20% and increases up to 50% for five consecutive claim-free years.

Personal accident cover provides compensation to the owner-driver if an accident results in death or permanent disability. It offers compensation of up to ₹ 15 lakh. In case of death, the amount is paid to the nominee.

Add-on covers or riders are optional covers that you can add to your car insurance policy for an additional premium. They provide extra protection beyond the standard policy, such as Zero Depreciation, Roadside Assistance, Engine Secure and Tyre Secure.

Depreciation is the reduction in the value of your car and its parts as they get older. During an own damage claim, the applicable depreciation on damaged parts is deducted from the claim amount.

With the Zero Depreciation add-on, you can avoid this deduction on applicable parts and receive a higher claim amount.

A total loss occurs when your car is damaged beyond repair or is stolen and cannot be recovered. Constructive Total Loss (CTL) occurs when the estimated repair cost is 75% or more of your car’s IDV.

Salvage refers to the damaged car or its parts that remain after a total loss or major damage. Once the insurer settles the claim for a total loss, the salvage generally belongs to the insurer.

Consequential loss refers to additional damage or expenses that happen as a result of the original damage. For example, suppose you drive through a flooded road and water enters your car’s engine. If you restart the car, it may lead to a hydrostatic lock, causing severe damage. This damage is considered a consequential loss because it results from restarting the vehicle after water entered the engine, not from the flooding itself.

An anti-theft device is a security device installed in your car to help prevent theft. It can alert you if someone tries to make an attempt to steal your car. Car alarms and GPS tracking devices are some of the most common anti-theft devices.

An endorsement refers to any change that you make to your car insurance policy after it is issued. It can be used to update details or modify the coverage in your policy. There are two types of car insurance endorsements. One affects your premium, while the other does not. For financial endorsements, a surveyor inspection is required.

Claim settlement ratio is the percentage of claims settled by an insurer out of the total claims it receives during a specific period. A higher claim settlement ratio indicates that the insurer has settled a larger proportion of claims.

The grace period refers to the time provided by your insurer to renew your car insurance policy after it expires without losing your NCB. TATA AIG offers a grace period of up to 90 days for policy renewal. However, your car is not covered against any loss or damage during the grace period.

A break-in occurs if you fail to renew your car insurance policy even during the grace period. It can terminate your No Claim Bonus.

A named driver is a person you authorise to drive your car and specifically add to your policy to extend the personal accident cover to them.

End of Life Vehicle is a vehicle that can no longer be used because it is no longer considered safe to drive.

Subrogation is the process where your insurer settles your claim first and then recovers the claim amount from the person who is actually responsible for the damage.

Downtime cover helps you cover your travel expenses while your car is being repaired in the garage. It may provide a daily allowance or a hire car, depending on what you have chosen.