CAR INSURANCE PLAN
Motor insurance protects you against damage caused to your vehicle or third party if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Motor insurance provides property, liability and medical coverage:
Property coverage pays for damage to or theft of your car.
Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
Private Car Package Policy
It is not easy to choose the best insurance protection solution for one of your most prized possessions – Your Car!
Even though motor insurance has been made mandatory by law, my:asset Private Car Package Policy brings to you the option of choosing from a wide range of covers and deductible choices.
The Car Insurance policy from HDFC General Insurance covers your prized asset from all possible dangers of the outside world
Accident by external means
Burglary or Theft of the vehicle Fire, Explosion, Self-Ignition, Lightning
Terrorist Attacks, Riots, Strikes, Malicious Acts
Whilst the vehicle is being conveyed by road, rail, inland waterways, air or lift
Earthquake, Floods, Storms, Landslides or Rockslides
The amount of coverage is dependent on the IDV (insured declared value) of your car and the coverage’s you have opted for.
The HDFC General Insurance car insurance policy also protects you from legal liability claims made by a third party who has been injured or whose property has been damaged in an accident involving your vehicle. Property damage is covered to the extent of Rs 750,000. However, in case of personal injury to a third party, the coverage amount is unlimited.
The Owner of the vehicle who drives the car is covered for an amount of Rs. 200,000 in case of accidental death and Permanent total disability.
Optional but very important covers
If you are asked to think of two things that you use most in your car, you would probably choose the music system and the car air conditioner.
Surprisingly most people forget to insure these two items while renewing their car insurance policy. For a relatively small premium you can cover these important accessories and more. The amount of coverage depends on the declared value of the car accessories
Non-electrical accessories such as seat covers, alloy wheels can also be covered for loss or damage.
You have the option to purchase an additional personal accident cover for yourself and other passengers (upto maximum of 5). Each person can be covered for Rs 2,00,000
Your paid driver is your employee and hence you are liable to pay for any injuries or damages he incurs while driving your car. To protect yourself against such liability you can obtain an additional cover for legal liabilities
Rewards for being responsible driver
If you have been a responsible driver and managed to avoid accidents inspite of the numerous risks on Indian roads, you deserve a reward on your car insurance.
You are entitled to a No Claim bonus of 20% to 50 % depending on the number of claim free years. In case you are transferring your car insurance policy for the first time to HDFC General Insurance, you can be rest assured that the bonus that has been accumulated over the years will be retained in the HDFC General Insurance policy.
In case you feel confident of your driving abilities, you might want to take on some of the risks and opt for what is termed as a higher voluntary excess. It is that part of amount which you agree to pay on your own in case of each and every claim as they arise. You will be eligible for a discount of upto Rs 2500 depending on the slab you choose.
Installation of anti-theft device just tells us that you are a very careful person and plan for all eventualities. Once again you deserve a reward. Hence a discount of upto Rs. 500 on your car insurance policy for installing an anti-theft device.
You are also entitled to a discount if you have taken membership of any of the automobile associations in India.
Be careful- Check exclusion
There are circumstances under which a claim will not be accepted
Your car insurance is valid for the use of car in India only, unless you have opted for the add on cover for geographical extension has been bought)
Any other financial loss sustained by the insured as a consequence of the accident.
Driving without a valid driving license is a cognizable offence. Any claim for accidental damage or liability caused by drivers without a valid driving license at the time of accident will not be accepted.
For your safety, we urge you not to drive when you are under the influence of liquor, drugs or intoxicants. Any claim for accidental damage or liability caused by drivers under such influence will not be accepted.
Any accidental damage or liability caused under any agreement pertaining to the vehicle which is not intimated to the Insurance Company.
my:asset Private Car Package policy is for private use only. Hence any accidental damage or liability caused while the vehicle is being used for any purposes like hire or reward, Carriage of goods, Organized racing, Pace making, Speed testing, Reliability Trials, Use in connection with Motor Trade will not be accepted.
my:asset Private Car Package Policy covers you for damage to vehicle on account of accidents only. Therefore any expenses due to mechanical or electrical breakdown will not be covered.
Loss/damage encountered due to War invasion, Nuclear fission, Radioactive contamination