HDFC ERGO Car Insurance Company – Key Highlights, Features and Reviews

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About HDFC ERGO General Insurance Company:

A joint venture between HDFC Limited and ERGO International AG, HDFC ERGO is a reputed general insurance company in its sector. It offers a range of general insurance solutions for its private and commercial customers. You can buy health insurance, travel insurance, home insurance, motor insurance as well as commercial insurance plans from HDFC ERGO’s platform.

Car insurance is one such product that HDFC ERGO offers car owners in line with the requirements of the Motor Vehicles Act, 1988. The car insurance plans of the company are varied, comprehensive, and are offered at competitive premium rates.

Key Highlights of HDFC ERGO General Insurance:

Some of the key statistical highlights of HDFC ERGO are as follows –

Number of branches More than 200
Presence across India Across more than 170 cities
Number of employees More than 7000
ICRA Rating iAAA for its claim paying ability

HDFC ERGO General Insurance Awards and Achievements:

From inception and during its years of operation, HDFC ERGO has won various awards and accolades for consistently offering attractive products and services to its customers. Some of the recent awards won by the company are as follows –

  • In the ET BFSI Excellence Awards 2021, the company won the award for ‘Best COVID Strategy Implemented – Customer Experience (Insurance)’
  • In September 2021, HDFC ERGO won the ‘Claims and Customer Service Excellence Awards’ at the FICCI Industry Awards
  • The company has to its name the Best Customer Experience Award of the Year (Financial Sector) bestowed by KamiKaze
  • It won the award for Excellence in Financial Reporting in 2015-16 from ICAI
  • HDFC ERGO has been awarded the SKOCH Order of Merit amongst the ‘Top 100 Projects in India’ for its Claims Management Services (CMS)

Features of HDFC ERGO Car Insurance plans:

HDFC ERGO car insurance plans offer a range of coverage benefits to customers. These coverage benefits are available under the different types of car insurance plans that the company offers. The features include the following –

  • Coverage for third party liabilities: This coverage is mandated under the Motor Vehicles Act, 1988. Under this coverage, if your car causes any type of physical injury, death, or property damage to a third party, the third party suffers a financial loss. This financial loss is covered by the car insurance policy.
  • Coverage against man-made calamities: If your car gets damaged due to fire, riots, strikes, malicious acts, or explosions, the repair costs would be covered.
  • Coverage against natural calamities: If a natural calamity damages the car, the financial loss that you suffer would be covered. The list of coverage calamities includes earthquakes, lightning, floods, hurricanes, storms, tempests, etc.
  • Theft coverage: The loss of your car due to theft is covered. In such cases, you would get a lump sum benefit which would be equal to the Insured Declared Value of the policy.
  • In-transit cover: If you are transporting your car through rail, air, water, or road and the car suffers any damage during such transportation, the loss would be covered.
  • Personal accident coverage: The personal accident cover is also a mandatory part of a car insurance policy. This cover pays a lump sum benefit in the case of death or permanent total disablement suffered due to an accident. The extent of coverage is Rs.15 lakhs.

Exclusions under HDFC ERGO car insurance plans:

Despite being comprehensive in their scope of coverage, HDFC ERGO’s car insurance plans have listed instances in which the claim is not payable. Such instances are called exclusions. Commonly found exclusions in most car insurance plans are as follows –

  • Driving without a valid driving license and the damages suffered thereof
  • Mechanical or electrical breakdown of the car
  • Consequential losses
  • Normal wear and tear of the car due to usage
  • Depreciation
  • Driving under the influence of alcohol and/or drugs
  • Deliberate accidents or attempted suicides
  • Driving outside India
  • Participation in hazardous or criminal activities, etc.

Car insurance plans offered by HDFC ERGO:

Here is a look at the popular car insurance plans that HDFC ERGO offers and which are also available on the PayBima website –

  • Standalone third party plan: The standalone third party plan covers the legal requirement specified under the Motor Vehicles Act, 1988. The features of the plan are as follows –
    • Third-party liabilities suffered due to property damage are covered up to Rs.7.5 lakhs
    • Physical injuries and death of any third party are covered up to unlimited amounts
    • Personal accident cover is also available under the plan
    • Premiums of the policy start as low as Rs.2072 exclusive of taxes

 

  • Standalone own damage plan: This policy does not cover third party liabilities but only the damages that the car might suffer. You can buy this plan if you already have another third-party coverage on the car. The features of the policy are as follows –
    • Get covered for damages suffered in an accident
    • Man-made and natural calamities are covered
    • Theft of the car is covered
    • You can enjoy overnight repair services
    • There is a range of optional coverage features that can be added to the policy at an additional premium

 

  • Comprehensive car insurance plan: A comprehensive plan combines the coverage offered under both of the aforementioned plans to provide the most inclusive scope of coverage. HDFC ERGO’s comprehensive car insurance plan has the following features –
    • You can enjoy up to 70% discount on your own-damage premium to make the policy affordable
    • You can intimate your car insurance claim through WhatsApp for ease and convenience
    • HDFC ERGO allows AI-enabled claim settlement for quicker approvals
    • You get covered for third party liabilities as well as the damages suffered by your car
    • You can enhance the scope of coverage with available add-ons. HDFC ERGO offers a choice of six add-ons for a more inclusive scope of cover

How to buy an HDFC ERGO car insurance plan?

HDFC ERGO car insurance can be brought both offline and online. You can buy an HDFC ERGO car insurance plan online through PayBima. Here are the steps:

  • Go online: Begin by visiting www.paybima.com. Then click on ‘car insurance.’
  • Provide the details: Next, provide your personal and car details to enable PayBima to search for a suitable car insurance policy for you. You would be required to fill in your personal details such as your name, contact number, location, etc, and car details such as make, model, and a variant of your car, type of policy that you want to buy, and registration number of your car, etc. You can also get personalized assistance from PayBima executive to select a car plan which suits your insurance needs. You can either call us at 1800-267-6767 or email us at paybima.care@mahindra.com.
  • Compare available plans: PayBima will show you a list of car insurance plans available based on your eligibility and coverage requirements. You will find the HDFC ERGO car insurance policy in the list. You can easily compare the policy you are planning to buy with the other car insurance policies available in the market. You can compare the plans based on premium and coverage benefits.
  • Proposal form: Fill out a simple proposal form with your personal and car details. Ensure to provide correct and complete details in the proposal form to avoid rejection of the claim later. After successful submission of the proposal form along with relevant documents, HDFC ERGO will issue the policy after underwriting.
  • Pay Premium: The last step is the payment of the premium online. PayBima offers secured gateways to pay the premium only. You can pay your premium through debit cards, credit cards, wallets, NEFT, etc. Once the premium is paid, the policy will be issued instantly.

How to renew the HDFC ERGO Car insurance plan?

Car insurance plans have a fixed tenure. You would be required to renew your plan before its expiry date to enjoy uninterrupted coverage. If you fail to renew your plan within the due date, you can do so within 30 days grace period offered by HDFC ERGO General Insurance. However, if you still do not renew your plan, your policy will lapse and coverage benefits will cease. Moreover, your accumulated no claim bonus will also lapse and you will have to go through the entire process of buying it again.

You can renew your HDFC ERGO Car insurance plan within minutes through PayBima. The process is petty simple and quicker than buying one. Just visit the PayBima website, log in with your policy number, review your plan and pay the renewal premium. Ensure to review the coverage benefits of your plan and avail no-claim bonus before renewal. You can also add or remove add-ons at the time of renewal. Your policy will be renewed instantly once the renewal premium is paid.

How to claim HDFC ERGO car insurance plans?

HDFC ERGO General Insurance is known for its excellent claim services. It provides a smooth and seamless process for claiming a car insurance plan. You can file a claim both online and offline. The process to claim HFDC Ergo Car Insurance is as follows:

  • Inform the insurer: Firstly, you will have to inform the insurance company about the claim no sooner a claim arises. A claim arises in the event of an incident in which your car was involved. You can inform HDFC ERGO by visiting its official website and intimidating a claim or by calling the claim helpline number of HDFC ERGO General Insurance.
  • Locate the nearest garage: After informing the insurer, locate the nearest network garage for cashless settlement of the claim. HDFC ERGO offers both cashless and reimbursement facilities to settle your car insurance claim. To avail of the cashless facility, you would be required to take your car to a networked garage. You can easily locate a network garage on the website of HDFC ERGO.
  • Extend of damage: Before permitting to begin the repair, HDFC ERGO will send a surveyor to the network garage to assess the extent of the damage. The surveyor will then submit a report to the insurer after approval of which the network garage will begin repairing your car.
  • Fill out claim form: After the report has been submitted and your claim has been allowed, you will have to fill and file a claim settlement form to the company along with relevant documents. Make sure to fill in the details correctly and accurately. You can get the claim form on the website of HDFC ERGO or can take it from the nearest branch of the company.
  • Claim settlement: The insurer will verify the details and documents provided by you and would settle your claim if it finds it authentic. You can collect your vehicle from the network garage and the insurance company will directly settle your claim.
  • Reimbursement claims: If you want to get your car repaired at a workshop with which HDFC ERGO does not have a tie-up or if your cashless claim has been rejected, you can file for reimbursement of the claim. In reimbursement claim, you will have to fill up a claim form and submit it to the insurer along with the original repair bills. The company will check the authenticity of your claim and directly credit the repair cost incurred by you in your bank account.Certain documents are to be submitted for the successful settlement of the car insurance claim. The list of documents required are as follows:
    • Original policy document
    • Original driving license of the person driving the vehicle
    • Car registration document
    • Bank mandates of the policyholder to credit the repair amount in the case of reimbursement claims
    • Duly filled and signed claim form
    • Police FIR and report of inspection officer in case of theft of car
    • Original repair bills for reimbursement claims

Review of HDFC ERGO car insurance plan:

Here is a quick review of HDFC ERGO’s car insurance plans –

  • Cashless repairs across more than 7900 networked garages
  • Get the benefit of overnight repair services in the case of minor damages
  • You can buy the policy online instantly. Renewals are also available online
  • The claim settlement process is quick, simple, and digitally-enabled to cut down on the hassles of making the claim
  • You can choose from a wide variety of car insurance plans depending on your coverage needs

FAQs on HDFC ERGO Car Insurance Company

What discounts are offered under HDFC ERGO’s car insurance plans?

HDFC ERGO offers a range of premium discounts on the own damage premium of the car insurance policy. These discounts include the following –
● The no claim bonus discount that starts from 20% and can go up to 50%
● Discount for installing ARAI approved safety devices in the car
● Discount for being a member of a recognized automobile association
● Discount for buying online, etc.

How can I find the nearest networked garage for cashless repairs?

You can visit HDFC ERGO’s website and locate the nearest garage for cashless repairs. Visit https://www.hdfcergo.com/car-insurance/comprehensive-car-insurance and enter your area PIN Code. Alternatively, you can visit https://www.hdfcergo.com/locators/cashless-garages-network and enter your State and city to find the list of networked garages.

If I modify my car, would my existing policy be affected?

Yes, it would be. Upon modification, the value of the car might go up or down. Moreover, if an additional part is added, you need to get insurance for that part as well. As such, you would have to inform the insurance company of any modification done on the car. If the modification increases the value of the car or if an additional part is added, like a CNG kit, the premium would go up. On the other hand, if the car is modified for the use of a disabled individual, you would be allowed a premium discount.

How is the third-party premium determined?

The third-party premium is determined by the Insurance Regulatory and Development Authority of India (IRDAI). It depends on the engine capacity of the car. The IRDAI reviews the third-party premiums regularly, i.e., after every financial year, and might increase or decrease it.

If I buy a new car which policy should I buy?

In the case of a new car, you need 3-year third-party coverage as mandated by the IRDAI. The own damage cover, however, is available only on an annual basis. As such, you can either buy two separate plans – the 3-year standalone third party plan and an annual standalone own damage plan, or you can buy a bundled policy that covers third party liabilities for 3 years and own damage for one year.

Jul 23, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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