India’s motor insurance sector is undergoing significant transformation driven by IRDAI reforms, technological advancements, and evolving consumer preferences. These changes include standardized policies, flexible ‘pay-as-you-go’ options, and long-term coverage mandates. Telematics, data analytics, and specialized policies for electric and autonomous vehicles are further shaping a more inclusive and tech-friendly insurance landscape.
Category: Motor Insurance
Why your EV insurance premium is costlier and features you must have in EV motor insurance policy
Electric vehicle insurance premiums are notably higher than those for traditional cars due to EVs’ higher purchase prices and costly battery replacements. Specialized parts, the need for trained technicians, and limited repair networks further contribute to increased costs. Comprehensive policies with battery protection, zero depreciation, and roadside assistance are crucial for EV owners to mitigate…
Higher motor insurance premium this year if more than 2 traffic challans levied last year? Here’s what experts say
Proposed rules linking traffic violations to higher insurance premiums are under consideration at present. Stricter rules for traffic violations are also being proposed. Experts anticipate that premium pricing might involve a tiered model based on pending challans, potentially using telematics for risk assessment. However, there are valid concerns regarding inflated premiums in cases where challans…
What influences your motor insurance premium—and tips to save it
Motor insurance premiums involve various factors like payment modes, claim history, and policy purchase method. Choosing strategic options such as spreading payments, leveraging No-Claim Bonuses, opting for Pay As You Drive, avoiding dealer-driven policies, and making smart deductible choices can significantly reduce premiums without compromising coverage.
Track your car insurance details online in minutes
In India, you can easily check your car insurance details online through platforms such as the Parivahan Portal, IIB Portal, mParivahan app, and state RTO websites. These government-run resources allow you to quickly access your vehicle’s insurance status, policy issuer, and validity by entering the registration number.
When will your insurer not cover claims under your third-party motor insurance?
Driving in India without third-party (TP) insurance is illegal and can result in financial burdens if caught without a valid policy. However, even when you have a TP cover, there may be instances where your TP insurer may refuse to cover damages and injuries caused to third parties by the insured vehicle. Read on to…
When will your insurer not cover claims under your third-party motor insurance?
Driving in India without third-party (TP) insurance is illegal and can result in financial burdens if caught without a valid policy. However, even when you have a TP cover, there may be instances where your TP insurer may refuse to cover damages and injuries caused to third parties by the insured vehicle. Read on to…
Zero depreciation car insurance: 5 things to know
Zero depreciation car insurance ensures that the insurance company does not deduct the depreciation value of car parts while settling a claim.
Zero depreciation car insurance: 5 things to know
Zero depreciation car insurance ensures that the insurance company does not deduct the depreciation value of car parts while settling a claim.
Why it is important to have third-party car insurance
Driving responsibly is crucial for safety, and third-party car insurance is mandatory in many countries, including India. Lacking this insurance can lead to legal penalties, financial liabilities, and potential imprisonment. It also affects future car ownership and insurance dealings. Third-party insurance ensures protection and responsible vehicle ownership.