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Motor Insurance
Let’s get you started on your vehicle insurance journey!
Motor insurance, or vehicle insurance, is an insurance policy that offers coverage to the vehicle’s owner and/or driver against financial losses in case of losses due to theft, accidents or natural calamities. In return for the regular payment of premiums, your insurance provider promises to share the cost of repairing damages. Almost every Indian family today owns a vehicle. And, no matter how careful they are, something unfortunate might happen to them and their vehicle. After an accident, robbery or attempted theft, they might have to deal with high repair costs or have to replace their car entirely. With vehicle insurance, you won’t have to worry at all. Your motor insurance provider will help pay for all repairs or the cost of the car.
But, your motor insurance policy is useful in other scenarios as well. A vehicle insurance policy that also offers third-party liability cover ensures you don’t have to pay for damages caused to another person, their vehicle or their property either. In fact, third-party motor insurance is mandatory in India. If you do not have a vehicle insurance policy with third-party liability cover while driving, you could end up having to pay a hefty traffic fine.
At TATA AIG, you will find insurance policies that meet your every need. You can simply choose between our two-wheeler and four-wheeler motor insurance online and get your policy within a few moments. Our wide range of add-on covers allows you to personalise your plan based on your specific needs. If you want something quickly, simply opt for our comprehensive motor insurance policy for coverage against third-party liability and own damages!
Features of a Motor Insurance Policy
Financial Security
A motor insurance policy helps take care of the cost of repairs for your vehicle. So, while it cannot help you grow your money, motor insurance is an important part of every good savings plan. You can rely on your vehicle insurance policy to help take care of the cost of repairs.
No-Claim Bonus (NCB)
A No Claim Bonus or NCB is a reward that your insurer provides you whenever you complete a policy year without making any claims against your vehicle insurance policy. The reward is a reduced premium for your motor insurance plan for the following year.
Quick Claims
When you get your vehicle repaired at a network garage, you can enjoy a quick and easy cashless claims process against your motor insurance policy.
Protection Against Damages
A comprehensive vehicle insurance plan provides complete damage cover. So, any damage caused by a natural calamity, theft or accidents will be taken care of by your motor insurance policy
Third-Party Cover
Third-party liability provides the vehicle owner with cover in case another person or another individual’s property is harmed or damaged in an accident. The motor insurance policy will help cover the expenses for the third party. In India, you must have at least third-party vehicle insurance to operate your vehicle legally on the road.
Customisable Add-Ons
Enhance your vehicle’s protection by choosing from a range of up to 13 motor insurance add-ons. You can opt for additional benefits such as roadside assistance or NCB protection.
High Claim Settlement Ratio
At TATA AIG, we’re proud of our ability to serve you. We ensure that claims are settled quickly without too many hassles. For the last financial year, our claim settlement ratio was 98% FY 20-21.
Benefits of Buying or Renewing Vehicle Insurance Online
Purchasing a motor insurance policy online is quick, easy and convenient. Here’s a look at all the benefits of buying and renewing motor insurance online:
Quick Comparisons
When you purchase your vehicle insurance policy online, you have the ability to compare the offerings of many different companies with ease. Ask for quotes from multiple motor insurance providers at the same time and compare costs, add-ons and coverage offered with a few easy clicks.
Saves Time
Buying vehicle insurance online is a quick process. You do not have to meet with an agent and discuss your options. Instead, you can carry out your research on the claim settlement ratio of various motor insurance providers and complete the purchasing process in under 30 minutes.
Paperless Process
In today’s digital world, you no longer need to submit hard copies of your documents to get your vehicle insurance policy. The entire purchasing and renewal process is completely paper-free and completed online within a matter of minutes.
Immediate Issue of Policy
When you purchase a policy online, you don’t have to wait for a hard copy of the motor insurance policy to reach your home address. As soon as you make the payment, a soft copy of your vehicle insurance policy gets sent to your e-mail address. You simply need to print it out and keep it in your vehicle!
Customisable Coverage
When you buy your vehicle insurance in India online, you can quickly choose add-ons and pick the coverage you’d like. Your motor insurance provider will offer you a few options that include various add-ons for enhanced protection.
Completely Secure
We live in a digital world. And, while many people are worried about phishing and other cyber-attacks, we have made it completely safe for you to complete your transaction on our website. You can securely process your online motor insurance application.
Quick Switches
The online renewal process remains the same irrespective of whether you’re sticking with your insurance provider or switching to a new insurer. You can retain your NCB and enjoy all your benefits without any break in coverage.
Why Should I Buy a Vehicle Insurance Policy?
Protection from Third-Party Liability
Third-party liability becomes an issue when the insured vehicle accidentally damages a third-party vehicle or property or injures a third-party individual. Third-party vehicle insurance protects the policyholder from having to pay for repairs or hospital bills for the third party from their own pocket.
Security Against Theft
If your vehicle is vandalised or some of its parts are stolen, your motor insurance policy will help cover the financial damages and compensate you for the loss. Your vehicle insurance policy could help pay to replace the stolen parts or even the whole vehicle in case it is stolen or damaged beyond repair.
Financial Cover Against Damages
Even the safest driver might meet with a road accident. Getting a small dent fixed in your precious vehicle could set you back quite a bit. With own damage cover in your vehicle insurance, you don’t have to worry about the cost. A good motor insurance policy will help you take care of the cost of damage done to your vehicle, making the policy an integral part of your financial plan.
Cover Against Natural Calamities
Almost every day, we hear about a new natural disaster destroying property and claiming lives. If your vehicle happens to get damaged because of floods, earthquakes or other covered disasters, you won’t have to deal with the financial loss or burden. Your motor insurance policy will step in to alleviate your troubles.
Cover for Personal Injuries
An accident can damage more than just your vehicle. It could end up hurting you or other passengers in your vehicle. Depending on the motor insurance policy you choose, you can get financial help to deal with injuries that are the direct result of a road accident.
We Have the Right Plans to Protect Your Vehicle from All Kinds of Risk
Car Insurance Policies
Most Indian households today own one four-wheeler. Cars allow us to enjoy long road trips across the length and breadth of India and a car insurance policy will keep you protected. Car insurance, like motor insurance, comes in various forms and plans. You will need to decide which kind of four-wheeler motor insurance policy best suits your requirements based on how often you use your vehicle. It’s important to remember that car insurance policies only provide cover for a private vehicle. So, if you use the four-wheeler for business, you won’t benefit from this policy.
Bike Insurance Policies
The two-wheeler is the preferred mode of transport for most Indian families. Bike insurance policies provide cover to all kinds of two-wheelers, from gearless scooters to large-engine superbikes. A variety of plans are available. Some offer basic third-party cover, while others provide you with comprehensive cover. You should pick the two-wheeler insurance plan that best suits your unique requirements.
Commercial Vehicle Insurance Policies
Any vehicle that is used for business purposes must have commercial vehicle insurance. These plans are carefully formulated to protect your company’s finances in case of an accident or if the vehicle is damaged or stolen. Ideally, all commercial vehicles, such as taxis, goods carrying vehicles, cranes and tractors should have a good commercial vehicle insurance policy in the dashboard.
Types of Motor Insurance
Having your own vehicle makes it incredibly convenient to move from place to place. But, owning and using a vehicle also has inherent risks. It’s possible that you meet with an accident or somebody may try to steal or damage your prized possession on purpose. We offer a range of policies, so you can pick the one that best suits your risk and needs:
Third-Party Liability Only Motor Insurance Policy
Third-party liability only vehicle insurance policies are the most basic motor insurance policies. They protect you from the financial and legal liabilities that arise after an accident causes damage to a third party or their property. You must remember that a third-party liability only motor insurance policy will not cover any damages to your vehicle.
Own Damage Motor Insurance Policy
An own damage motor insurance policy provides coverage for financial losses caused due to accidental damage to your vehicle. These vehicle insurance policies are solely for your vehicle. They do not provide cover for damages caused to a third party, their vehicle or their property.
Comprehensive Motor Insurance Policy
A comprehensive vehicle insurance policy offers extensive coverage as compared to a basic third-party motor insurance policy. The comprehensive motor insurance policy offers protection against financial losses due to damage to your own car and third-party liabilities.
What’s Covered in TATA AIG Motor Insurance?
TATA AIG’s motor insurance policy provides cover against:
Theft of the Vehicle
If you opt for a comprehensive vehicle insurance policy, we will reimburse you the Insured Declared Value (IDV) of your vehicle if it gets stolen or is accidentally damaged beyond repair.
Natural Disaster Damages
If you have a comprehensive motor insurance policy or an own damage vehicle insurance policy, you can enjoy financial protection against any damages caused to your vehicle by a natural disaster such as a cyclone, earthquake, flood, snowfall, frost, or rainfall.
Man-Made Calamity and Fire Damages
An own damage or comprehensive motor insurance policy will offer financial protection against damages caused by terrorist attacks, strikes, riots and other malicious man-made calamities. Additionally, your vehicle insurance also provides cover for fire damages due to lightning, self-ignition and explosions.
Accidental Damages
After an accident, your vehicle may end up with a few scrapes and dents or may need extensive repairs. A comprehensive vehicle insurance policy or an own damage motor insurance policy provides coverage for these accidental damages.
Transit Damage
At times, you may transport your vehicle from one location to another via waterways, roadways, airways or railways. In case the vehicle is damaged in transit, your comprehensive motor insurance policy will help take care of the cost of repairs.
Third-Party Liability
Our motor insurance policies don’t just look after damage to your vehicle. We’ll also take care of third-party liability, which you need to legally operate your vehicles on Indian roads. If you happen to meet with an accident and another individual is hurt or their property is damaged, our motor insurance policy will help cover the expenses.
Personal Accident Cover
You can also choose to have a Personal Accident Cover to the tune of ₹15 lakhs with your comprehensive car insurance plan. This cover offers protection against permanent total disability, death and major injuries caused to the owner-driver as a result of an accident. With Tata AIG, you can also add an optional cover – Liability to Unnamed Passengers – if you need added coverage over the Personal Accident Cover.
What’s Not Covered in TATA AIG Motor Insurance?
There Are A Few Things That We’re Unable To Help With. Here’s A Look At Some General Exclusions Under Our Motor Insurance Policies:
- Damages suffered after driving without a proper license
- If the vehicle is used outside the geographical area i.e. outside India
- Damages caused due to driving under influence of alcohol or drugs
- Ordinary wear and tear due to regular usage and depreciation
- Costs insured towards general maintenance of the vehicle
- Damages caused due to negligence of the driver
- Using a private vehicle for commercial usage
- Damages caused due to speed racing, crash testing, etc.
- Damages caused due to war or war-like situations in the country, and nuclear peril
- Damages covered under a specific add-on when the add-on is not included
- Reimbursement of only 50% cost for the replacement of consumables due to wear and tear
Factor Affecting Motor Insurance Premiums and How to Reduce It
There are a number of factors that decide what the premium of your motor insurance policy should be. Let’s take a look at what they are:
Insured Declared Value (IDV)
Insured Declared Value, or IDV, is the current market value of your vehicle. The IDV factors in depreciation to arrive at the appropriate figure. Your vehicle’s IDV is the maximum amount that your insurer will pay in case there is complete total loss to your vehicle. Your vehicle insurance premium is directly proportional to your IDV. A higher IDV means a higher motor insurance premium.
Age of the Vehicle
The age of the vehicle will affect your motor insurance premium. Typically, insurance premiums are higher for brand new cars and lower for older cars. This happens as the value of a vehicle depreciates every year, bringing the IDV and premium down with it.
Insurance Coverage
The type of motor insurance policy that you opt for will affect your vehicle insurance premium. A comprehensive motor insurance plan will have a higher premium than a stand-alone own damage motor insurance policy or a third-party liability only policy. A comprehensive plan provides coverage to all parties involved, so it will have higher motor insurance premiums.
Add-Ons Selected
You can enhance your vehicle’s insurance coverage by opting for add-ons. Your motor insurance premium will increase depending on the number of add-ons you add to your vehicle insurance policy.
Engine Capacity
The vehicle’s engine’s cubic capacity (cc) will affect the motor insurance premium. Vehicles with a higher cubic capacity always attract higher motor insurance premiums. Every year, the IRDAI declares universal third-party vehicle insurance premium rates based on the cubic capacity of the insured vehicle.
Deductible
A deductible is a percentage of the total claim amount that the insured individual offers to pay. The policyholder chooses the deductible at the time of purchasing the motor insurance policy. A higher deductible means you will pay a larger portion of the claim. Those who opt for high deductibles can enjoy lower premiums. However, it means the insured will have to pay a significant portion of every claim.
Claims History
Individuals who have maintained a clean claim history can get an NCB from their insurer. The NCB lowers the policyholder’s premium as a reward for not making any claims. The NCB is a progressive discount and the amount increases every year. For five consecutive years without making any claims, individuals can enjoy a discount of up to 50% on their motor insurance renewal premium.
Miscellaneous Factors
Other factors, such as the age of the applicant, make and model of the vehicle, security features available on the vehicle and location where the vehicle is registered can impact your motor insurance premium. Vehicles that have enhanced safety and security features will attract lower premiums than vehicles that lack these features.
If you’d like to reduce your premium slightly, there are a few things you can do, such as:
Opting for Mandatory Add-Ons Only
While many insurance providers offer a range of add-ons for enhanced protection, you don’t need to pay for all of them. Make sure you only select the add-ons that you require. For example, if you intend on using your vehicle just within city limits, you may not have to purchase a roadside assistance add-on. So, think very carefully about whether the add-on actually offers you enough value before adding it to your policy.
Installing Security Accessories
Insurance providers will likely reduce your premium if your vehicle is at less risk. So, a car that has anti-theft accessories installed will have a slightly lower premium than an identical car without the safety features. Make sure you purchase your anti-theft devices from authorised dealers only to enjoy a discount on your premium.
Don’t Make Unnecessary Claims
Every time you make a claim, your IDV goes down and your premium goes up. If you can handle small bumps and scrapes by yourself, it’s a good idea to do that. Making a claim, even for a small issue, could pinch your pocket in the long run. Additionally, you risk losing your NCB.
Why Choose TATA AIG?
A TATA Promise
Our motor insurance policies come with the 150-year legacy and trust of TATA. As an insurance company, we’ve been keeping our promise of looking after you, your vehicle and finances for over 20 years! When we commit to something, we stick to it.
You Come First
We’ve made it our mission to anticipate your every need. We put your priorities above ours, always, and work to exceed your every expectation. Over our years in the insurance industry, we’ve taken care of 5 crore customers and our family is growing every day.
We’re Performance-Driven
We have a large team that is always looking for ways to reach new heights. To ensure speedy claim settlements for all our customers, we have over 650 claim experts working hard across India. We also have a dedicated service and operations team, who will walk you through every step of the process and answer all your queries. Every day we push ourselves to accomplish new levels of perfection in our vehicle insurance processes and increase the quality of our work.
We Have a High Settlement Ratio
The claim settlement ratio lets you know what percentage of claims the insurer settled of all claim requests received. Before you buy or renew your vehicle insurance online, we’re sure you’d like to know how likely you are to get your settlement if you raise a valid claim. Well, we’re proud of our stats. In the last financial year, we settled 98%* of the claims that came our way. So, if you ever make a claim against your TATA AIG motor insurance policy, there’s a very good chance you’ll get the settlement you deserve.
How to Use a Vehicle Insurance Calculator?
Your motor insurance premium depends on various factors, like the make and model of your car, the way you intend to use it and your previous claim history. To gain a better understanding of the kind of vehicle insurance premiums you need to pay, you can use an online vehicle insurance calculator. If you’d like to use a calculator, you need to follow these steps:
Enter a Few Basic Details
The calculator requires some vehicle information. You need to provide your:
- Registration Number
- Vehicle Manufacturer’s Name
- Vehicle Model and Variant
- Year of Manufacture
- NCB, if any
Settle on Your IDV
Once you provide these details, the calculator will show you a few options. They will provide you with an estimated IDV of your vehicle and a few plans with various add-ons covers. Each plan will have a separate estimated premium depending on the add-ons and coverage offered.
Select Additional Covers
If you aren’t happy with the plans on offer, you can opt to customise your vehicle insurance policy by choosing various add-ons. These add-ons will boost your coverage and impact your premium.
View the Final Premium
Once you’ve found a vehicle insurance policy that offers you what you need, you can view the final premium calculation.
Remember, your actual premium may change slightly depending on the vehicle insurance provider, but the calculator will give you an estimate of how much you can expect to pay.
What Our Customers Are Saying
Add on details are very interesting and customer can decide his own choice. Now unseen or hidden risks are covered.
Nice products tata Aig
FANTASTIC
excellent & flawless experience ! littelly renewed my insurance in less than a minute! keep it up TATA!
Thank you, the new process is very seamless! It's SO MUCH better and MORE intuitive than what you had until last year. Great work on the upgrade!
Easy process. However, no option to select 2 or 3 years
It been good experience, but can't give full marks.
OVERALL GOOD AND SATISFACTORY, TATA IS BRAND OF RELIABILITY
POLICY BUYING IS LIKE JUST A GO.....NICE EXPERIENCE TATA
GOOD PRICE
TATA is a Trusted Brand and always cheaper than other insurance company
Customer Service is awesome, Thank you so much for giving me discount. In future if I will plan to buy any new car, definitely I will insured my car by Tata Aig.
God damn awesome journey!!
Everything is transparent and smooth
VERY GOOD WEBSITE FOR RENEWAL
It was very convenient to use. And the best part was the service provide at home.
This no login premium renewal was a cakewalk. It was not there last year when i tried to renew.
Steps to Buy or Renew Motor Insurance Online
To buy or renew your vehicle insurance online, you need to follow these easy steps:
Step 1: Input your vehicle registration number and get the price (for a new policy) or renew (for an existing TATA AIG policy).
Step 2: Fill up all the required vehicle and personal details required. You can select the motor insurance policy coverage and add-ons of your choice.
Step 3: Get your instant vehicle insurance premium quote. If you’re happy, you can pay the premium online.
Steps to File a Claim Against a Vehicle Insurance Policy
We hope it never comes to this, but if there’s an accident or something happens to your vehicle, you will have to file a claim. The easiest way to file a motor insurance claim is online. Here’s a step-by-step break down of TATA AIG’s motor insurance claims process:
It’s always best to register your motor insurance claim as soon as possible. Once you’ve managed to get to safety, call your insurance provider and let them know you need to file a claim. You will have to provide the following details:
- Your motor insurance policy number
- A few personal details, including your name, number and address
- License details, or the license details of the driver
- A few details regarding the incident
- A copy of the FIR if there was an accident
Your insurance provider will send you a claim intimation number. You can use the number to follow up on the process.
Your vehicle insurance provider will send somebody to your location to inspect the damage done to your vehicle. Today, many providers allow digital inspection as well for quick claims.
Once the insurer gives you the go ahead, you need to take your vehicle to a garage. Ideally, select the nearest network garage to you for quick and easy cashless claims.
The garage will work on your vehicle and repair it. If you’ve opted for a network garage, they will send the bill directly to the insurer.
Step 6: Let the Insurer Settle the Claim Your vehicle insurance provider will settle the claim with the garage directly. You only need to pay for deductibles and any damages that are not covered when you pick up the vehicle.
Did Not Find What You Were Looking For?
Frequenly Asked Question
What is a motor insurance policy?
Motor insurance is a type of insurance policy that provides financial coverage against damages caused to your vehicle or to other individuals and/or their property.
What are the types of motor insurance?
There are three basic types of motor insurance policies. Third-party liability only cover, own damage cover and comprehensive cover. The third-party liability only policy provides coverage for damage to others and their property. An own damage policy will only cover the financial losses incurred due to damage to the insured vehicle. A comprehensive motor insurance policy offers both third-party liability and own damage cover.
Which motor insurance is best in India?
In India, it is best to opt for a comprehensive motor insurance policy. This vehicle insurance plan provides cover for third-party liability and own damages to the vehicle.
What is covered under motor package policy?
A motor package policy, also known as a comprehensive vehicle insurance policy, offers coverage against multiple types of losses. It provides cover against third-party liability and offers cover for damages to the insured vehicle.
What is the best way to compare insurance rates?
Individuals can compare motor insurance premium rates online. Every insurance provider will provide you with a quote or estimated premium based on the information you provide about the vehicle.
Why do I require motor insurance?
A good motor insurance policy will help protect you, your finances, and your vehicle in case you meet with an unfortunate accident. In India, you need to have a motor insurance policy to legally operate your vehicle on the road.
Why is motor insurance compulsory?
The Motor Vehicles Act, 1988, made it compulsory for vehicle owners to purchase at least third-party liability cover before operating their vehicles on Indian roads. Motor insurance become compulsory to help individuals deal with financial losses after an accident.
How do I apply for motor insurance?
You can choose to buy your motor insurance policy online or offline. You can complete the online process by visiting your preferred insurance provider’s website and entering the required information. You could also complete the process offline with the help of an authorised agent or by calling our toll-free number 1 800 266 1363.
How can I check my motor insurance policy?
You can check the details of your vehicle insurance policy by reading the policy documents. Or, you can visit your insurer’s website and log in to the customer portal for more information on your motor insurance policy.
How do I check my insurance claim history?
Your current motor insurance provider can provide you with details about your insurance claim history. For more information, you can contact the Claims and Underwriting Exchange (CUE). CUE is a database that maintains records on insurance and reported incidents for the previous six years.
