Tata AIG Motor Insurance Company

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Tata AIG Motor Insurance Plan

Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Limited is a joint venture company of the Tata Group along with AIG, the American International Group. The company has grown to emerge as the preferred general insurance in India’s private sector, with several pioneering firsts to its credit. The company began its operations on January 22, 2001, and has completed 21 years of service in India.  Tata AIG General Insurance Company Limited is one of the pre-eminent players in the non-life insurance sector.

The company offers a huge number of general insurance plans for individuals and businesses, including a comprehensive range of insurance solutions for cargo, liability, personal accident, extended warranty, marine, cargo, rural, agriculture insurance, travel, etc.

Key highlights of Tata AIG General Insurance Company:

Tata AIG General Insurance Company has a huge distribution network and a wide variety of products and services. Some key highlights of Tata AIG General Insurance Company are as follows:

Gross written premium Rs 10,686 crores as of 31st March 2022
Number of offices 200 offices across 150 locations in India
Number of licence agents and brokers 45000 + licence agents and 450 + licence brokers
Number of employees 6500 + employees across India
Number of network garage 5000 + workshops
Numbers of policies issued 1 crore+ policy issue last year
Numbers of customers 5 crore + customers since inception

Awards and achievements of the company

Tata AIG is a renowned name in India’s insurance industry. The company has completed 20 years of journey with a legacy of 5 crore+ customers. In its journey of 20 years, the company has been recognized various times with various awards and accolades for its contribution to the insurance sector of India. Let us have a look at some of the awards and achievements of the company:

  • The company was awarded the ‘Best Product Innovation Award 2011’ in the general insurance category.
  • Tata AIG General Insurance Company received an e-commerce award from Asia Insurance Technology Awards in 2011.
  • The company bagged the ‘General Insurance Claims Team of the Year’ award in 2013 at the Claims Awards Asia.
  • The company received ‘Best Travel insurance Company of the Year’ in 2013 at CNBC Awaaz Travel Awards.
  • It was recognized as the best employer of the year by Asia Insurance Review, Singapore.

Key features of Tata AIG Motor Insurance Plans

Tata AIG motor insurance policy offers a wide coverage against multiple circumstances discussed as follows:

  • Third-party liabilities: Third-party liability arises when the vehicle causes accidental damages to third-party property or vehicle or injuries to a third-party person. The third party in motor insurance or even comprehensive motor insurance covers third-party liabilities and protects the insured vehicle from financial damages.
  • Theft: Tata AIG would reimburse you the insured declared value of the vehicle under the comprehensive insurance policy if your vehicle is stolen or has suffered total damage due to an accident.
  • Damages due to man-made calamities: Losses or damages caused by terrorist attacks, riots, malicious man-made activities, strikes, etc. are covered under comprehensive motor insurance cover or own damage cover.
  • Damages due to natural disasters: Tata AIG motor insurance policy provides financial protection against damages caused due to natural disasters like floods, cyclones, earthquakes, snowfall, frost, etc.
  • Damages due to fire: Fire damages resulting due to self-ignition, explosion, lightning and so on are covered.
  • Damages caused to vehicles by an accident: Damages suffered by an insured vehicle in an accident are also covered under a comprehensive and standalone own-damage insurance policy.
  • Damages incurred in transit: Losses or damages incurred while moving the vehicle from one location to another through roadways, railways, waterways, airways, etc. are covered under a comprehensive motor insurance policy
  • Personal accident cover: Personal accident cover of 15 lakhs to the owner-driver is offered under a motor insurance policy for reimbursement of medical expenses incurred for injuries resulting due to an accident.

Exclusions under Tata AIG Motor Insurance Plans

There are certain events in which Tata AIG General Insurance Company is no liability to pay motor insurance claims. Such events are known as common exclusions. You can find exclusions of the motor insurance policy in your policy document. Some common exclusions of Tata AIG motor insurance plans are as follows:

  1. Damages due to driving the vehicle without a proper license
  2. Driving the vehicle under the influence of drugs or alcohol
  3. Use of vehicles outside the geographical area of India
  4. Ordinary wear and tear of the vehicle due to regular usage
  5. Depreciation of the vehicle
  6. Damages caused due to war or war-like situations and nuclear peril
  7. The cost incurred towards general maintenance of the vehicle
  8. Damage due to crash testing, speed racing or due to negligence of the driver.

Types of Tata AIG Motor Insurance Plans

A motor insurance policy is necessary to protect your vehicle from various incidents and situations that can lead to financial damages. Tata AIG offers a range of car and two-wheeler insurance policies to help you select the type of coverage and protection your vehicle need. You can also enhance the coverage of the motor insurance policy with insurance add-ons.

1. Tata AIG Car Insurance

Tata AIG car insurance policy offers complete protection to insured vehicles from various kinds of damages, from accidents to damages due to natural disasters. Tata AIG understands the significance of having a suitable car insurance policy and offers various products as per the needs and budget of the individuals. Tata AIG offers the following types of car insurance policy:

Type of Insurance Features
Comprehensive Car Insurance Policy Tata AIG’s comprehensive car insurance policy provides extensive coverage compared to basic third-party insurance and offers protection against damages due to third-party liability and damages due to accidents, natural disasters and manmade disasters. It provides all-around assistance and protection to you and your vehicle in the event of an accident

2. Tata AIG Two-wheeler Insurance

Tata AIG two-wheeler insurance helps you to keep your two-wheeler safe from damages and third-party liabilities and protects you and your bike from unavoidable expenses. Tata AIG General Insurance offers different types of bike insurance which cater needs of your bike and the type of coverage required to protect it under unfavourable situations. Tata AIG offers the following types of two-wheeler insurance policies:

Type of Insurance Features
Comprehensive Two-wheeler Insurance policy Comprehensive two-wheeler insurance offers all-around cover which protects you, your vehicle and third-party property or person from financial damages.

Process of buying Tata AIG Motor Insurance Plan

Tata AIG motor insurance policy can be brought online through PayBima’s website. You can also choose to buy a motor insurance policy by visiting the company’s branch office. PayBima offers a simple and hassle-free process to select, compare and buy a suitable motor insurance policy. Follow these simple steps to buy a Tata AIG motor insurance policy through PayBima:

  • Go online: Visit the website of PayBima or simply click on www.paybima.com and select ‘motor insurance.’ Then select the type of insurance that you want to buy: car insurance or two-wheeler insurance.
  • Provide the details: The next thing that you need to do is to fill in a few details such as your name, contact number, type of policy and location. You would also be required to fill in your vehicle details such as year of manufacture, registration number and its make and model. The PayBima website will show you a quote based on your details and insurance requirements. PayBima’s personalized assistance in selecting a suitable motor insurance policy for your vehicle can be avail.
  • Compare available plans: You should always compare the insurance policy that you want to buy with other insurance products available in the market. It helps to select a comprehensive policy at a competitive price. PayBima allows you to compare available plans and select a plan which best suits your insurance requirements.
  • Fill & sign the proposal form: After finalising a motor insurance policy, fill out and sign a simple proposal form with your details and vehicle details. Ensure to feel correct and adequate details in the form so that you don’t face any problems at the time of claim. Submit the proposal form along with a soft copy of the relevant documents on PayBima’s website. The entire process is paperless; you can submit the documents and the form online.
  • Pay premium: The last step is the payment of the premium. Once the proposal form and the documents are submitted, pay the premium online through any of the secured payment gateways of PayBima. Your motor vehicle policy will instantly be issued with a confirmation on your registered mobile number.

Process to renew Tata AIG Motor Insurance Plan

Motor insurance plans come with fixed tenure and offer lifelong renewals. It is always best to complete your policy renewal before the expiry of your existing policy. If you forget to do so, the coverage benefits in the plan will cease, and your vehicle will not be insured against damages. Additionally, there may be a legal penalty for non-compliance with mandatory third-party liability after the lapse of the policy. Moreover, you may also lose your accumulated no-claim bonus if your policy lapses due to non-renewal. It is suggested to keep a reminder for a renewal of the policy within the due date or grace period.

Renewing your Tata AIG motor insurance policy through PayBima is easy and quick. Just visit the PayBima website or simply click on www.paybima.com and enter the registration number of your vehicle in the box. Then, fill in the policy number of your vehicle. PayBima would display the details of your existing insurance policy. You can review the existing coverage in the insurance policy before paying the premium and can also make changes by adding or removing add-ons at the time of renewal. The insurance policy’s premium would be adjusted proportionally according to the changes made in the plan. Before making payment, don’t forget to avail no-claim bonus discount. Once the payment is made, you will receive a renewal acknowledgement on your registered mobile number.

You can reach us at 1800 267 6767 or mail at PayBima.care@mahinda.com for any kind of help or assistance in renewing your Tata AIG motor insurance policy.

Process to claim Tata AIG Motor Insurance Plan

Tata AIG General Insurance Company has a dedicated customer service delivery and superior service experience powered by the latest technology and innovation. The claim settlement process of the company is very smooth and quick. The steps are stated as follows:

  • Initiate the claim: Inform the insurance company no sooner claim arises by calling on its toll-free number or visiting the official website of Tata AIG. State your vehicle registration number and policy number to initiate the claim
  • Locate cashless workshop: You can select between receiving reimbursement for the repairs or making a cashless claim through network garages. If you want to avail cashless claim, then you would have to take your vehicle to the nearest network workshop which can be located on the official website of the insurance company. Tata AIG has tie-ups with a vast network of 5400+ across India which can be located easily.
  • Inspection: Tata AIG would send a surveyor to inspect the extent of damage caused to the vehicle. The surveyor will visit the network garage within 24 hours of claim initiation and submit a report to the insurance company on approval of which the network garage would begin the repair.
  • Fill out the claim form: Once the inspection is done, fill out a simple claim form with correct and complete details. The claim form can be downloaded from the official website of the insurance company or can also be brought from the nearest branch office. Submit the claim form along with other relevant documents for the successful settlement of a claim
  • Claim settlement: Once the claim form and relevant documents are submitted, the insurance company would verify the details and if everything is correct and adequate, it will approve your claim. Upon approval, you can take your vehicle from the network garage and Tata AIG would pay the repair cost to the network garage directly.
  • Claim reimbursement: If your cashless claim gets rejected or if you want to get your vehicle registered at a non-network garage, then you can avail reimbursement facility. For reimbursement of the claims, you can get your vehicle repaired at any non-network garage and pay the repair bills. Then, fill up a simple claim form and submit the original repair bills along with other documents. Tata AIG would verify the authenticity of your claim and upon approval, the amount would be credited to your bank account.

You would have to submit certain documents for the successful settlement of your claim. These include:

  • Registration document of the vehicle
  • Valid driving licence of the individual driving the vehicle
  • Original policy documents of the vehicle
  • Police FIR and inspection officers report in case of robbery or theft of the vehicle
  • Original bills of repair for reimbursement claim
  • Bank details to credit the repair cost for reimbursement claim
  • No trace report from police in case of the theft

Review of Tata AIG Motor Insurance plan

Tata AIG General Insurance Company is known for its trustworthy and innovative insurance solutions. Other key highlights of Tata AIG motor insurance plans are as follows:

  • Tata AIG has a claim settlement ratio of 98% for the financial year 2020-2021
  • The broad portfolio of insurance cover of the company is backed by exceptional service capabilities years of professional expertise in the offering of products and a seamless claim settlement process
  • The company has a robust multi-channel distribution network of 45000+ licence agents and a worldwide network of claim servicing partners to help you buy as well as claim your motor insurance policy easily and quickly.
  • The company has a tie-up with 5400+ network garages across India to help you avail of cashless claim settlements easily.
  • Tata AIG provides roadside assistance 24* 7 at your service

Found this post informational? 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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FAQs on Tata AIG Motor Insurance Company

How can I calculate the insurance premium for my motor insurance policy? 

You can use the Tata AIG insurance premium calculator to understand the premium amount you would have to pay for various insurance policy options. You will have to fill in certain details such as the type of the policy, make and model of your vehicle, year of manufacturer, location and other relevant details to calculate the premium.

Can my no-claim bonus be transferred? 

Yes, the no-claim bonus can be transferred. NCB is a reward offered by Tata AIG to the owner-driver for not filing a single claim during the entire year of the policy. So, when you replace your vehicle with a new one, the no-claim bonus can be transferred to the new vehicle insurance policy.

Is it mandatory to buy a personal accident cover? 

Yes, personal accident cover is a mandatory requirement for licenced drivers. However, if the licenced drivers have independent personal insurance cover under another policy of which the sum assured is 15 lakhs or more, then there is no requirement to buy a personal accident cover separately. 

What are the add-ons available to be brought with the Tata AIG car insurance policy? 

Tata AIG offers 12 add-ons to be added to your car insurance policy by paying an additional premium. The list is as follows: 

No-claim Bonus Protection
Repair of Glass Fibre and Plastic Parts
Roadside Assistance
Emergency Transport and Hotel Expenses
Daily Allowances
Engine Secure
Key Replacement
Consumable Expenses
Return to Invoice
Tyre Secure
Loss of Personal Belongings
Zero Depreciation

Can I get roadside assistance in the Tata AIG motor insurance policy?

 Yes, you can buy a roadside assistance add-on to get roadside assistance in the Tata AIG motor insurance policy. It provides round-the-clock assistance to your car If It breaks down in a remote location with no help nearby. Tata AIG will send a team to refuel your vehicle or send a mechanic for service in case of an emergency. 

Aug 12, 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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