Car Insurance

Car Insurance

Prices starting at just ₹2,094/yr*

*This amount refers to the TP rates only

Key Features of Car Insurance

Cashless Claim settlement

₹15 lakh Personal Accident Cover

Upto 50% off
with NCBF

Types of Car Insurance

Car insurance protects you against legal and financial liabilities arising due to damages to your car. For complete peace of mind, get easy on pocket car insurance policies by choosing the right cover for your four wheeler.

Comprehensive Insurance

✓ Provides overall protection to the car by coveringown damage, third party damages and theft.

Standalone OD

✓ Provides coverage in case of damages caused to your own car due to an accident, man-made disaster, natural disaster, fire, etc. This type of insurance is optional.

Third party insurance

✓ Provides coverage towards third party individuals and property damages. This type of insurance is mandatory as per the Motor Vehicles Act, 1988.

Difference between Thrid Party Insurance, Own Damage

Point of Difference	Own Damage Insurance	Third-Party Insurance
Coverage	Own Damage Insurance provides coverage for damages to your insured vehicle. It includes accidents, thefts, natural calamities, and man-made disasters.	Third-Party Insurance covers the liabilities arising from damages to third-party vehicles, property, or bodily injuries caused by your insured vehicle.
Compulsion	Own Damage Insurance provides coverage for damages to your insured vehicle. It includes accidents, thefts, natural calamities, and man-made disasters.	Third-Party Insurance is mandatory by law to legally drive on Indian roads. It ensures you meet the minimum legal requirement for liability coverage towards third parties.
Exclusions	Own Damage Insurance primarily protects your vehicle and does not cover third-party liabilities.	Third-Party Insurance excludes the cost of damages sustained by your insured vehicle. It solely covers the liabilities of third parties involved in an accident.
Standalone Purchase	You cannot purchase Own Damage Insurance as a standalone policy. It can only be availed with a Third-Party Insurance policy or as part of a comprehensive car insurance plan.	You can purchase Third-Party Insurance separately, fulfilling the legal requirement for liability coverage towards third parties.
Customisation	Own Damage Insurance allows customisation by purchasing additional covers, commonly called add-ons. These add-ons enhance your policy's coverage, such as Nil Depreciation Cover, NCB Protect Cover, and more.	Third-Party Insurance, being a mandatory cover, does not offer customisation options or add-ons. It provides standardised coverage as per the legal requirements.

Car Insurance Add-ons

Zero Depreciation Cover

Get full claim amount without any deduction on depreciated vehicle parts such as rubber, glass.

Personal Accident (PA) Cover

Provides coverage to the person sitting in the car with you.

Engine Protection

Get coverage for repair or replacement of the engine.

Return to Invoice

In case of theft or total loss of vehicle, amount mentioned in the invoice is given.

No Claim Bonus Protection

You can lodge predefined number of claims without losing the NCB benefit.

Roadside Assistance Cover

Round-the-clock assistance is provided in case of breakdown of the car in an emergency situation.

Reasons to buy Car Insurance Online

Car Insurance should be renewed before expiry of the current policy to ensure that your asset is insured and financially protected in case of any accidents

No Need for an Insurance Agent

Online purchase of car insurance eliminates the need for an insurance agent. In case of a doubt, you can always contact the insurer and get it cleared.

Instant Policy Issuance

When you buy a car insurance policy online, your policy is issued to you almost instantly. You don’t have to wait for days to receive your policy document.

Easy Customization

All you have to do at renewal time is customize your policy with the add-on you think is best for your car

Secured and Transparent

we provide our customers with a secure payment gateway and ensure that their transactions are not vulnerable to fraud

Own Damage Car Insurance Inclusions and Exclusions

Car Insurance Inclusions	Car Insurance Exclusions
Damages to your own car	Damages caused when drinking and driving
Financial protection of the car against natural or man-made calamities	Driving without a valid driving license
Protection against car theft	Damages caused to the car when driving outside the covered geographical location
Damages caused due to an accident	Mechanical or electrical breakdown of the car
Third party death and property damages	Regular wear and tear
	Damages caused to tyres and tubes of the car

Factors considered when claculating Car Insurance Premium

Insured Declared Value (IDV)

of a car is a primary component for calculating the car insurance premium. IDV value is nothing but the approximate current market value of a car.

Type of Cover

A basic Third-party policy is mandatory by law in India. It offers cover against third-party liabilities. On the other hand, a comprehensive car insurance policy covers Own Damage along with third-party liabilities.

Type of Car (Make and Model)

The premium for insuring a luxurious car is going to be high as compared to a hatchback. This is because of the vehicle’s basic composition.

Age of Vehicle
(Year of Manufacturing)

Age of the vehicle takes into account two important concepts related to car insurance: Depreciation and Insured Declared Value (IDV). These two concepts are interrelated.

Claims made in the past

Insurance companies offer a discount on the premium (on car insurance renewal) if you haven’t raised a claim during the previous policy period. Do not be in a rush to raise a claim.

Add-ons taken in the plan

Offer extra security. And extra things usually come at a price. Including Add-ons such as Zero Depreciation, Passenger Cover, etc. will increase your premium amount.

Frequently Asked Questions (FAQs)

What are the factors that affect car insurance premiums?

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How can I lower my car insurance premium?

Does comprehensive car insurance cover theft and fire?

What are the car insurance add-ons I can buy?

How many times can I claim insurance under my car policy?

What is deductible in car insurance?

What are the different types of car insurance policie?

What are the risks covered by Private Car Package Insurance Policy?

When should I renew car insurance?

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Is my No Claim Bonus (NCB) transferable?

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Disclaimer :+

The information mentioned herein above is only for consumption by the client and such material should not be redistributed.

ICICI Securities Ltd. ( I-Sec). Registered office - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec acts as a Composite Corporate agent having registration number –CA0113. Corporate Agent of ICICI Prudential Life Insurance Company Ltd, HDFC Life Insurance Company Limited, ICICI Lombard General Insurance Company Ltd, Care Health Insurance Ltd, Star Health and Allied Insurance Ltd, HDFC ERGO General Insurance Company Limited, ManipalCigna Health Insurance Company Ltd, Aditya Birla Health Insurance Co. Limited, Tata AIG General Insurance Company Limited & Go Digit General Insurance Limited. Please note, Insurance related services are not Exchange traded products and I-Sec is acting as a corporate agent to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing.Insurance is the subject matter of the solicitation. The advertisement contains only an indication of the cover offered. For more details on risk factors, terms, conditions and exclusions, please read the sales brochure carefully before concluding a sale. ICICI Securities Ltd. does not underwrite the risk or act as an insurer.

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