Introduction
Owning a Maruti car means that you are impressed by and believe in the specifications of the vehicle. However, sufficiently insuring the vehicle is necessary to ensure that it remains in top condition and you are not left financially impacted by any repairs or replacements arising out of any unfortunate accidents.
Many unforeseen events can take place when you drive a car, from a small bend in the bumper to serious accidents on the road. That is why having car insurance is not only a legal formality but also a prudent financial decision for your peace of mind.
This all-inclusive guide takes you through all aspects of Maruti insurance and helps you choose the ideal coverage for your vehicle.
Types of Vehicle Insurance for Maruti Cars
Two types ofvehicle insurance policies are available for Maruti cars. They are:
1. Third-Party Insurance
This is the mandatory cover that you have to purchase as per the Motor Vehicles Act of 1988. The policy covers the financial liability faced in the following contingencies:
· If the vehicle causes bodily harm to any person
· If someone is killed in an accident as a result of your vehicle
· If your vehicle causes damage to anyone's property
The policy will not cover damages to the insured car.
2. Comprehensive Insurance
Comprehensive car insurance is also called a package policy as it provides all-around coverage for the vehicle. It covers the following contingencies–
· Financial liability incurred as a result of someone's death involving your vehicle.
· Financial liability incurred if someone is injured due to your vehicle.
· Financial liability incurred when your car damages someone else's property
· Damage to the insured vehicle brought on by natural calamities such as lightning, hurricanes, floods, and earthquakes.
· Damages to the vehicle brought on by man-made events like theft, fire, malicious acts, etc.
· Damages incurred to the vehicle during transportation through road, rail, air, or waterways.
Exclusions Under Maruti Insurance
The following types of claims are excluded from the Maruti insurance coverage:
· Mechanical or electrical failure in the vehicle
· Consequential losses
· Normal depreciation suffered due to the age of the car
· Wear and tear damages on the vehicle's parts
· Accidents that occur when a person drives without a license, while intoxicated, or under the influence of narcotics, outside of India, during criminal conduct, etc.
· Warfare and its associated risks
· Intentional mishaps or attempted suicides
· Not driving the car the way it is supposed to be
Add-Ons Available Under Comprehensive Maruti Auto Insurance
A comprehensive car insurance policy allows you to opt for additional coverage benefits. These features, which offer more protection, are referred to as add-ons or riders.
You can select as many add-ons as you require, but each one has a separate cost. The following are the most popular riders that are offered by almost all Maruti insurance policies:
Roadside Assistance: If your car breaks down in the middle of the road and you are unable to get it to the closest garage, the insurance company will provide 24-hour assistance under this coverage. Support for the refilling of fuel, change of flat tyre, towing,jump-starting of the car, lost key replacement, etc., are allowed under this cover.
Zero Depreciation: Normal wear and tear of the car’s parts are not usually covered, and in case of a claim, the company deducts the depreciation cost. With the help of this add-on, the total cost of the replacement or repaired parts is admitted as a claim without factoring in depreciation.
No Claim Bonus (NCB): If there are no claims during a policy year, a no-claim bonus may be awarded. This is a discount on the renewal premium. Additionally, the bonus rate rises with each additional year without a claim. Nevertheless, the entire collected no-claim bonus is forfeited in the event of a claim. This add-on, however, protects the accumulated no-claim bonus even after a claim.
Consumables cover: In the event of a claim, this rider will reimburse the cost of consumables such as oil, lubricants, etc.
Engine Protect: This add-on covers the damages suffered by the car’s engine due to water seepage.
Loss of personal belongings: This rider will cover the loss you suffer if your personal belongings are stolen or damaged while in the car.
Passenger personal accident coverage: This add-on increases the benefit of the vehicle's personal accident coverage to the passengers.
How to Buy Maruti Auto Insurance?
When purchasing Maruti auto insurance, you have two choices.
· Offline: You would either need to make an appointment with an insurance company agent to purchase a policy from them, or you could go to their office to do it.
· Online: The simplest and most practical way to purchase auto insurance for your Maruti vehicle is to do so online. There are many websites available that allow you to purchase an online policy. You can choose your desired insurance plan and enter information about your Maruti car, like its name, model, chassis number, registration number, and other facts. You can also make any changes to your existing policy at the time of renewal.
Tips to Choose the Best Insurance Cover
Selecting the right Maruti insurance necessitates considering the following factors:
1. Understand Your Vehicle
The Maruti brand manufactures a range of automobiles, such as sedans, hatchbacks, SUVs, and MUVs. Compact Maruti automobiles, such as sedans and hatchbacks, have significantly lower insurance costs than larger cars, such as MUVs or SUVs.
These various car classes have varied basic insurance coverage amounts. Additionally, the premiums for add-on policies are higher for larger cars. Make sure to take these things into account when purchasing your Maruti auto insurance policy.
2. Define Your Requirements
Knowing what kind of coverage you require is essential when you begin shopping for insurance. This decision aids in determining the kind of policy you need to purchase. You can select between a comprehensive policy and third-party auto insurance.
According to the Motor Vehicles Act, third-party liability coveris the absolute minimum. Although the coverage is restricted, a comprehensive plan is available as an extra upgrade that includes own damage and third-party liability cover. These plans can also be customised, which allows you to fine-tune your insurance coverage.
3. Research Insurers and Policies
Never accept the very first insurance that comes your way. Make a comparison with different policies to determine which offers the best coverage at a fair price.Choose a company that has a good history of settling claims and offers excellent customer service. Go through the reviews and ratings to check the reliability of the company.
Read the insurance documents carefully so you understand the terms of the coverage, the exclusions, and the inclusions. This will help in avoiding unwelcome surprises when making claims
4. Buy Add-On covers
Add-ons enhance the protection and coverage of your Maruti insurance policy. They come in several forms, and every additional rider you select will need you to pay a premium. You can modify your insurance plan and buy the add-ons during insurance renewal.
Conclusion
Getting the proper insurance for your Maruti offers you financial stability as well as peace of mind for it. To make an informed decision, one must know the differenttypes of insurance and the benefits of having comprehensive coverage. Compare policies online or gather information from dealers or agents to find the best fit. With the right coverage, you can drive confidently, knowing that your car is protected.
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.
Disclaimer: This content is part of a marketing initiative. No TNIE Group journalists were involved in the creation of this content.