Car Insurance Made Simple

1. Policy Coverage

• 1.1. Policy valid for 12 months from inception date.
• 1.2. New policy coverage starts after 24-hour waiting period.
• 1.3. Immediate coverage for renewals before expiry.

2. Premium Calculation

• 2.1. Based on car's IDV, make, model, and age.
• 2.2. Additional premium for add-on covers.
• 2.3. NCB discount applicable for claim-free years.

3. Claims Process

• 3.1. Immediate notification required (within 24 hours).
• 3.2. FIR mandatory for theft or third-party claims.
• 3.3. Surveyor inspection required for damage claims.

4. Exclusions

• 4.1. Driving without valid license.
• 4.2. Driving under influence.
• 4.3. Regular wear and tear.
• 4.4. Electrical/mechanical breakdown.

5. Car Modifications

• 5.1. Prior approval required for modifications.
• 5.2. CNG/LPG kit installation must be declared.
• 5.3. Modified cars may attract additional premium.

6. IDV (Insured Declared Value)

• 6.1. Based on manufacturer's price and depreciation.
• 6.2. Adjustable within 5-10% range.
• 6.3. Affects premium amount directly.

7. No Claim Bonus

• 7.1. Starts at 20% for first claim-free year.
• 7.2. Maximum 50% after 5 claim-free years.
• 7.3. Transferable to new vehicle.

8. Cancellation

• 8.1. Pro-rata refund for policy cancellation.
• 8.2. No refund if claim made during policy period.
• 8.3. 15 days notice period required.

9. Transfer

• 9.1. Policy transferable to new owner.
• 9.2. Transfer request within 14 days of sale.
• 9.3. NCB remains with original owner.

10. Documentation

• 10.1. RC copy mandatory.
• 10.2. Previous insurance details.
• 10.3. Valid PUC certificate required.