Motor Insurance
Motor insurance is mandatory for all vehicles in India as per the Motor Vehicle Act, 1988, whether they are for personal use or commercial. The policy covers financial losses from accidents involving the insured vehicle, including damage to third parties' vehicles and property. It also provides protection against damage caused due to natural disasters or human actions.
The right motor policy will safeguard your finances from unforeseen costs, enabling a worry-free drive. Buying a motor insurance policy online is extremely convenient and hassle-free.
Highlights of Motor Insurance
Types of Vehicles Protected Under Motor Insurance
It protects the insured vehicle from accidents, theft, and natural or human-made disasters. It includes stand-alone third-party liability/loss, comprehensive plans, and own-damage covers.
It is mandatory for all bikes and covers third-party expenses and own-damage/loss for vehicles, individuals, and property. You have the option to choose from comprehensive plans, stand-alone third-party insurance, or own-damage covers.
It covers various vehicles against fire, theft, natural calamities, accidents, and third-party liability, including passenger and goods-carrying vehicles.
Most Popular Motor Insurance Plans
Sahi Advice,
Sahi Insurance
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Motor Insurance Policy - Everything You Need to Know
Types of Motor Insurance Cover Available in India
Motor Insurance – Inclusions
Documents for Claiming Motor Insurance
Motor Insurance Claim - How to Ensure Claims Are Accepted & Processed
How to Buy and Renew Motor Insurance Online and Offline
Types of Motor Insurance Cover Available in India
Mandatory for vehicle operation, covering third-party liabilities of vehicles and persons.
In addition to third-party liability/damages, it also covers damages/loss to the insured vehicle.
The costs vary based on vehicle use – type of vehicle, time, distance, behaviour, and place.
It only covers damages to your vehicle. You can buy this along with third-party liability insurance.
It offers continuous third-party liability coverage only for new vehicles – 3 years for private cars and 5 years for two-wheelers.
It combines stand-alone third-party liabilities (3 and 5 years for private cars and two-wheelers respectively) and stand-alone own-damage cover for one year only for new vehicles (commercial vehicles not included).
Features of Motor Insurance
Buy or renew motor insurance conveniently from home. Get expert advice from our certified insurance advisor if needed.
Understand the claim process upfront during policy purchase. Enjoy smooth cashless or reimbursement claims.
Select from stand-alone third-party, comprehensive, or stand-alone own-damage cover based on your requirements.
Enhance your coverage with options like engine protection, zero depreciation, consumables, key replacement, etc., with comprehensive or stand-alone own-damage plans.
Benefits of Motor Insurance
Ensures compliance with Indian Motor Tariff laws. A third-party policy is mandatory for road use, avoiding fines or legal issues.
Protects against legal liabilities from damage caused by your vehicle to other individuals or property.
Covers damages to your vehicle from accidents, natural disasters, fire, vandalism, etc., under comprehensive or stand-alone plans.
Provides compensation for injuries, disability, or death resulting from accidents.
Add-ons like zero depreciation, engine protection, and roadside assistance improve your insurance coverage.
Eligible for discounts on policy renewal if no claims are made during the coverage period, ranging from 20%-50%.
Offers on anti-theft devices, voluntary deductibles, and Automobile Association of India memberships.
Use network garages from your nearest location for hassle-free, cashless repairs listed on the Mahindra Paybima website.
Pay repair costs upfront and get claim reimbursement from the insurer later.
At Paybima, buying an insurance plan is easy and you can opt for an advisor’s help anytime.
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Motor Insurance – Inclusions
What is covered in motor insurance
Covers injury, death, or property damage caused by accidents involving your vehicle.
- Includes damages/loss in road accidents
- Fire
- Explosions Thefts
- And during rail/road/waterways/lift/elevator/air transportation
- Terrorist acts
- Riots
- Strikes and natural disasters
Motor Insurance – Exclusions
What is not covered in motor insurance
Add-ons in Motor Insurance
No depreciation charges during claim settlement for replaced parts.
Covers wear and tear items such as nuts, bolts, ball bearings, gearbox oil, grease, AC gas, lubricants clip, fuel filter, screw, washers etc.
Compensation for mechanical or electrical damages to the engine due to oil spills or water ingression. It includes the gearbox, hydrostatic lock etc.
Covers the gap between ‘insured declared value’ and purchase cost for a new vehicle of the same make and model along with the registration and other applicable taxes.
Services during breakdowns and mishaps, including towing, jump start, tyre change and fuel recharge.
Covers replacement of lost keys.
Covers tyre damages like bulges, cuts, punctures, or bursts.
Provides funds for a new vehicle of same make and model after total loss.
Covers towing expenses during breakdowns or accidents.
Preserves no-claim bonus after a claim.
Covers loss of personal items in the insured car.
Pays for damaged battery repairs due to floods or inundation.
Repairs internal parts of electric motors or hybrid units such as the differential and transmission units, water ingression, undercarriage damage, leakage of lubricating oil.
Covers damage to chargers and cables due to over-voltage, fire, towing damage, etc.
Pays EMIs to the financial institution on behalf of the insured during lengthy accident repairs.
Compensates for wheel rim damage.
Covers daily transport costs during repairs.
Pays for accident-related medical expenses to a certain limit.
Covers damaged helmets from accidents.
How to Select the Best Motor Insurance Plan?
With so many options, selecting the right motor insurance can be tough. It is important to choose a plan which addresses your needs and is financially viable.
Factors to consider while selecting a motor insurance policy are mentioned below:
Choose between stand-alone third-party, stand-alone own-damage, or comprehensive plans based on your needs.
Enhance coverage with options like zero depreciation, RSA, and engine protection.
Opt for insurers with high claim settlement ratios for smoother claim processes.
Opt for policies which have access to numerous network garages for cashless claims.
Earn discounts ranging from 20%-50% during policy renewal for no claims made.
Ensure that the IDV matches the vehicle's market value, providing value for money.
Take advantage of discounts for anti-theft devices, voluntary deductibles, and AAI membership.
Understand the claim and renewal processes thoroughly by reading the policy's terms and conditions.
Factors Affecting the Premium of Motor Insurance
Make, model, cubic capacity, and variants influence the premium.
Older vehicles incur higher depreciation, affecting premiums.
Customized plans with extras like zero-depreciation or roadside assistance enhance coverage affordably.
Premiums vary based on traffic levels, with lower rates in quieter and less busy areas compared to metro cities and accident-prone zones.
Petrol or diesel engines impact the Insured Declared Value (IDV) and thus, premiums.
Claim-free years lead to renewal discounts, reducing premiums.
Higher IDV increases premiums due to the vehicle's higher value.
Things to Consider While Buying Motor Insurance Online
Choose the right coverage - third-party, own-damage, or comprehensive as per your vehicle and needs.
Explore available add-ons for extra protection.
Compare policies for features, premiums, claim ratios, network garages, and more.
Ensure that the claim process is straightforward for easy claims.
Check for sufficient cashless garages for convenient claims.
Understand how premiums are calculated to find cost-effective options.
How to Claim Motor Insurance
In case of your own-damage claim, it's crucial to follow certain procedures. As an insurance broker, we are here to offer complete guidance and assistance. Visit our nearest Mahindra Paybima store and contact your relationship manager on the toll-free number
Immediate notification
Promptly report the accident or damage to your insurer for swift action.
Authorised network garage
Take your vehicle to the nearest network garage authorised by your insurer.
Document submission
Submit necessary documents, including claim form, insurance policy copy, driving license, and registration certificate for smooth processing.
Repair cost estimation and communication
The authorised network garage assesses damages and promptly shares repair estimates with the insurer.
Surveyor's assessment
An assigned surveyor inspects and evaluates the damage, sometimes via video survey for efficiency.
Direct settlement
After approval, the insurer directly settles the expenses with the network garage.
Claim deductibles
Pay the deductible or depreciation amount as per coverage taken in the insurance policy.
Vehicle collection
Collect your vehicle post-repairs and final confirmation of insurance liability.
Immediate notification
Promptly inform your insurer about the accident or damage.
Authorised garage
Choose an authorized garage or workshop for repairs.
Repair cost estimation
Obtain a repair cost estimate from the garage.
Document submission
Submit required documents, such as claim form, insurance policy copy, driving license, and registration certificate for smooth processing.
Surveyor's assessment
The assigned surveyor evaluates damages and validates the claim.
Approved claim and repairs
Proceed with repairs after claim approval.
Payment and reimbursement
Pay for repairs and submit invoices and receipts to the insurer for reimbursement.
Immediate police notification
Immediately report theft to the police and file an FIR (First Information Report).
Inform your insurance provider
Inform your insurer promptly with necessary details.
Documentation submission
Submit FIR, claim form, and relevant documents such as policy copy and registration certificate to your insurer.
Surveyor's investigation
An investigation agency assigned by the insurer comprehensively assesses the theft claim.
Additional document submission
Upon claim approval, provide original keys, vehicle documents, and requested paperwork.
Verification and settlement
The insurance company will conduct a diligent verification process to validate the claim.
Final report & A-summary
In case of non-recovery of the vehicle within a 90-day period, police authority will issue a final report and A-summary.
Settlement
The insurer verifies and settles the claim based on IDV.
Immediate notification
Promptly report accidents involving third parties.
Gather relevant details
Collect all pertinent information about the third party and file an FIR.
File an FIR
It is mandatory to file an FIR in case of a third party.
MACT court
Claims route through MACT court for compensation determination.
Claim approval and legal representation MACT
Once the claim is lodged, the insurer provides legal representation for compensation.
Compensation determination
The compensation amount is based on liability and Motor Vehicles Act provisions.
Direct settlements
Do not settle claims directly with third parties as they will not be authorized for reimbursements.
Documents for Claiming Motor Insurance Policy
A completed claim form with your signature
Your motor insurance policy copy
Your registration certificate (RC) copy
Your driving license
An estimate for repair costs
Original repair bills and payment receipts for reimbursements
A police FIR for theft claims
Motor Insurance Claim - How to ensure claims are accepted and processed
There should be no intentional damages or fraudulent claims.
There should be no claims involving alcohol-affected driving.
There should be no late accident notifications. It should be done between 48 hours to 7 days.
There should be no invalid licence claims.
There should be no expired policy claims.
There should be no claims for personal vehicles used commercially, against the policy terms.
Guaranteed Claim Support
We will guide you from start till end in your ‘claim’ journey. Start your claim process with us to get our support.
How to Buy Motor Insurance Online and Offline
Buy or renew online easily by following these steps to save time and costs. It can be done through the insurer’s website or an aggregator website.
Input RTO details and vehicle details (brand, manufacturing year, model, fuel type, variant, and date of registration) to begin the process. For ‘renewing’ your policy share vehicle number (RC) of an existing vehicle, along with previous policy and ‘no-claim bonus’ details.
Check policy features, premiums, claim settlement ratios, and network garages.
Select from mandatory third party, comprehensive, or bundled plans.
Shortlist and compare 2-3 policies online.
Choose suitable add-ons for extra coverage.
In addition to the form, do cKYC, and upload required documents.
Pay online using credit/debit cards, UPI, wallets, or net banking.
Once approved, get the policy via email, post, or dashboard download.
Benefits of Buying and Renewing Policy Online
You can easily buy and renew motor insurance online on our website and enjoy many benefits along the way:
Online car insurance renewal is safe and regulated by IRDAI, ensuring authenticity and safety.
Online policies are cost-effective due to reduced operational costs and middleman fees, with festive discounts adding to the savings.
Online platforms allow easy comparison of policies, helping you choose the best option as per your requirements.
Renew your policy instantly by providing vehicle details and previous policy information, making the process quick and straightforward.
Minimal paperwork makes online car insurance buying hassle-free and efficient.
Get timely reminders before policy expiration, ensuring you renew on time.
Additional coverage like roadside assistance or zero depreciation can be added to your policy as needed.
Enjoy No Claim Bonus discounts for claim-less years, even if you switch insurers during renewal.
How to Compare Motor Insurance
Consider these factors while comparing vehicle insurance online to get the best deal and coverage.
Check for additional coverage options available either as add-ons or included in the base plan for an extra cost.
Look for plans that offer discounts for features anti-theft device, AAI membership discount, GPS tracking device.
Compare IDVs across policies to find one with higher benefits and affordable premiums.
Check the insurer’s claim settlement ratio to gauge its reliability and efficiency in processing claims.
Opt for a policy with access to a wide network of garages for convenient cashless claims across various locations.
Compare Top plan From Top Motor Insurance Companies
Royal Sundaram
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Future Generali
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Reliance General
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SBI General
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Features
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Third-party liability cover
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Own damage cover
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Cashless network garages
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No claim bonus
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Zero depreciation cover
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Roadside assistance
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Engine protect cover
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Return to invoice cover
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Key protect cover
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Choose from India’s Top Insurers
Buy from India’s Top Insurers
Ask Anything as We Have Answers to Everything in Motor Insurance
A motor insurance policy is compulsory for all vehicles, including personal and commercial vehicles that ply on Indian roads under the Motor Vehicle Act, 1988. The policy covers the financial losses incurred to the insured vehicle, in accidents, to the third-party or his vehicle and property. It also protects the insured and their vehicle against ‘own-damage’ caused by natural or man-made calamities.
Keeps you legally compliant: Motor insurance keeps you legally compliant according to the Indian Motor Tariff. It is mandatory to have at least a third-party motor insurance policy to ply on the road, without which you can be charged a fine or imprisoned.
Covers you against third-party liability: This type of insurance covers you against the legal liabilities that arise in case of loss/damage caused by the insured vehicle to a third person’s body or property.
Covers you for your own-damage: Damages to ]the insured’s vehicle due to an accident, natural calamities, man-made disasters, fire, defacement, etc. are covered under stand-alone own-damage as well as comprehensive motor insurance plans.
Personal accident (PA) cover: PA cover with a motor insurance policy will pay you for the compensation in case of bodily injuries, death, or any permanent disability arising due to an accident.
Enhanced coverage: You can enhance your coverage by choosing any add-ons like zero depreciation, engine protection, roadside assistance, etc.
No-claim bonus: During the tenure of the motor insurance, if no claims have been made, then the insured is eligible for a ‘no-claim bonus’ on renewal of the policy. Get a no-claim bonus benefit ranging between 20%-50%.
Other discounts: Get a discount for installation of anti-theft device, voluntary deductibles, and Automobile Association of India membership
Cashless repairs: You can select the network garages of your nearest location listed on the Mahindra Paybima website to avail of cashless benefits. Easy reimbursement: Reimbursement refers to when the insured pays for the repair cost and later can claim the bill from the insurance company.
Motor insurance is a plan that covers vehicles against any costs incurred due to physical damage or loss and theft of a vehicle. Some features include:
Easy online plan purchase and renewals: You can opt for motor insurance purchase and renewal online, from the comfort of your home. You can also opt for assistance from our certified insurance advisor at any point.
Transparent claims process: The claim process is displayed at the time of policy purchase. Both cashless and reimbursement claim processes can be carried out smoothly.
Flexibility of coverage: Choose from stand-alone third-party, comprehensive or stand-alone own-damage cover for your vehicle as per your need.
Improved coverage: When you choose a comprehensive coverage or stand-alone own-damage cover, you can improve the coverage by choosing from add-ons like engine protection, zero depreciation, consumables, key replacement, etc.
Motor insurance is a plan that covers vehicles against any costs incurred due to physical damage to or by the insured vehicle or loss and theft of a vehicle.
- Stand-alone third-party insurance (SATP)
- Comprehensive insurance
- Pay-as-you-drive insurance
- Stand-alone own-damage insurance (SAOD)
- Long-term liability cover
- Bundled plan
Auto insurance is a mandatory cover that is needed when you drive your vehicle on the road. Besides being a mandatory cover, a two-wheeler insurance policy covers expenses related to damage/loss to a third-party and own-damage/loss for vehicles, individuals and property. You can choose a comprehensive plan, a stand-alone third-party insurance plan or a stand-alone own-damage cover as per your need.
Auto insurance is required to protect your vehicle against any unforeseen liabilities
Below are the types of insurance:
- Third-party insurance
- Comprehensive Insurance
- Pay as you drive insurance
