9 min read
Updated on Mar 14, 2023
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.
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|
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 –
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 –
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 –
Here is a look at the popular car insurance plans that HDFC ERGO offers and which are also available on the PayBima website –
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:
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.
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:
Here is a quick review of HDFC ERGO’s car insurance plans –
Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.
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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.
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.
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.
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.
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.
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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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.
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