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FAQ's

  1. Motor Insurance
  2. Claims Related
  3. Maruti Insurance
  4. Policy Renewal

  1. Is it mandatory to insure my vehicle?
  2. What are the different types of Motor Insurance?
  3. Why the IDV is taken as 95% of Ex-show room price for New Car insurance?
  4. What are the factors affecting the premium of my car?
  5. Can the cheque date be later than the date of issue of policy?
  6. Can the accessories be insured?
  7. Is the Customer Signature mandatory on the Proposal form?

Is it mandatory to insure my vehicle?

Yes. As per Motor Vehicle Act, No person shall use (except as a passenger), or cause or allow any other person to use a motor vehicle in a public space in India without a Third Party Insurance (Liability Insurance). Therefore, customer needs to insure the car at least with Liability Only cover.

What are the different types of Motor Insurance?

There are two types of Motor Insurance:

  • Liability Only Policy - This covers Third Party Liability for bodily injury and / or Death and Property damage. Personal Accident cover for Owner Driver is also included
  • Comprehensive / Package Policy - This covers loss or damage to the vehicle insured in addition to the Liability Only policy.

Maruti Insurance as a broking firm caters to insurance requirements.

Why the IDV is taken as 95% of Ex-show room price for New Car insurance?

This is as per the tariff. In the past, even after the loss of the vehicle on the second day of purchase, insurance company never settled the claim for full ex showroom price of the vehicle. They reason for the same was that the claim should be settled according to the market value of the vehicle. Now government has made it a rule that the value of the vehicle will be taken according to a fixed structure as per the age of the vehicle and insurance company should take the premium as well as settle the claim on the same value termed as IDV (Insured Declared Value). In this structure, the IDV of the new vehicle is at 95%. As the vehicle gets older every year, the IDV keeps going down. Full IDV is payable for all total loss / theft cases. Why pay the premium on 100% price of the vehicle when the claim is going to be paid on 95% price.

What are the factors affecting the premium of my car?

Factors affecting Premium are:

1. Third Party Cover (TP)

The Premium is based on vehicle CC.

It covers TP Life for Unlimited Value and TP Property damage for a certain amount.

There is an option to reduce the insurance company liability that reduces the premium.

2. Owner Driver Personal Accident Cover

It is a mandatory requirement. It insures the vehicle owner for Rs. 2 Lacs, at a premium cost of Rs. 100.

However, in case the owner has another vehicle in his name, and has taken this cover for that vehicle also, this cover can be made optional, and the premium can be reduced by Rs.100

3. Anti Theft Device discount

If your car is fitted with an anti-theft device approved by ARAI, you are entitled to an Anti theft Discount of 2.5% of own damage net premium or Rs. 500, whichever is less.

4. Voluntary Excess / Deductible

This is an option wherein, if the customer agrees to bear the claim cost upto Rs. 2500/5000/7500/15000, then the customer can get a discount upto Rs.750/1500/2000/2500 respectively at the time of taking Insurance.

5. Personal Accident Cover for Passengers

This is an optional cover. Its cost is Rs.100 per passenger, for cover of Rs. 2 Lac.

Rs.2 Lac is the maximum coverage that can be offered. It can be reduced upto Rs.10000 which will have a premium of Rs. 5/-.

6. Registration City

Premium Rate varies based on Registration City – higher premium is charged for metros and state capitals as compared to remaining cities.

7. Other factors which are considered for Premium Calculations are:
  • Insured Declared Value (IDV), Insured Vehicle Value
  • Engine CC
  • Discounts- No Claim Bonus, Automobile Association Membership
  • CNG / LPG- Inbuilt or External
  • Electrical / Non-Electrical Accessories insured
  • Vehicle type – Private or Commercial
  • Customer type – Individual / Corporate

Can the cheque date be later than the date of issue of policy?

No, this is non-compliance of section 64VB of the Insurance Act of 1938. Cheque date has to be the same / prior to the date of policy issuance.

Can the accessories be insured?

Yes, those accessories which don't come as a part of the car and have been fitted separately will be insured separately on payment of additional premium. The premium will be 4% of the value of the electronic accessories, plus service tax on it.

Is the Customer Signature mandatory on the Proposal form?

Yes, it is mandatory. Proposal can be a form filled in by the customer, or a recorded telephonic conversation in case the solicitation is done over the phone. For Renewals, Proposal can be a consent slip, generally attached to the renewal notice sent by the insurance company and duly signed by the customer.

  1. Are the Body Coloured Bumpers insured under Comprehensive Insurance?
  2. What to do if the car meets with an accident?
  3. What all Documents are required for accident Claim Settlement if the vehicle is repaired at a non-dealer workshop?
  4. In case of an out-of-town accident, whom do I contact?
  5. In case of an accident, can the car be repaired at any workshop?
  6. In case of post-accident repair, will the insurance take care of all costs?
  7. How am I required to pay for my share of repair costs to the workshop?
  8. What is to be done if there is any injury and/or property damage to any third party?
  9. What to do in case of theft of accessories / car?
  10. What to do in case of damage caused by terrorists, riots, malicious acts?
  11. What types of damages are covered under Maruti Insurance Own Damage Policy?
  12. When should I report to the police? 

Are the Body Coloured Bumpers insured under Comprehensive Insurance?

There can be 2 possibilities:

  • When the Body Coloured Bumpers are company fitted, the IDV of the Vehicle includes the price of Bumpers also, so these are insured.
  • When a customer gets Body Coloured Bumpers fitted on his own and it is not company fitted accessory - in this case, the customer needs to insure the painting charges value separately as Non-Electrical Accessories. The same premium rate that is charged on IDV of vehicle is applicable for Non-Electrical Accessories premium calculation also. Example: 3.2% is to be charged on Rs. 2,00,000 IDV. Same 3.2% will be charged on Non Electrical Accessories value. And Service tax will also be added. (For Electronic Accessories, it is 4% of value of accessories)

What to do if the car meets with an accident?

  • As soon as possible, call and inform Maruti Insurance at our dedicated customer support desk at 3377 4477 (prefix 011/022/033/044). If you are unable to contact from accident site, please park and lock the car to ensure safety and contact Maruti Insurance.
  • Alternately you can contact any Maruti Suzuki Dealer who will help you.
  • If the car is drivable, it may be taken to the workshop – you may choose to go to Maruti Suzuki Workshop for a cash-less and hassle free claim settlement. The car maybe handed over to the workshop for repairs and necessary insurance claim formalities. Please submit the following documents to the workshop.
  • Original Insurance policy
  • Original registration certificate
  • Original driving license of person driving the car at the time of accident
  • Claim intimation letter and claim form to be filled-in by you. Assistance will be provided by the workshop to you for this. In case the car was handed over for towing, you may visit the workshop as soon as possible to submit the above mentioned documents.

What all Documents are required for accident Claim Settlement if the vehicle is repaired at a non-dealer workshop?

The following documents are required:

  • Claim Form duly signed by the Insured
  • Policy Copy
  • Registration Card Copy
  • Driving License Copy
  • Permit & Fitness Certificate (in case of Taxi / commercial registered vehicles)
  • FIR (in case Third Party damage / injury is involved)
  • Claims Discharge cum Satisfaction voucher signed across a revenue stamp.

In case of an out-of-town accident, whom do I contact?

Contact Maruti Insurance at our dedicated customer support desk at 3377 4477 (prefix 011/022/033/044).

In case of an accident, can the car be repaired at any workshop?

You will receive near cash-less claim settlement with zero hassles irrespective of your location if you get the vehicle repaired at any Maruti dealer workshop. However, in case you opt for any non-dealer workshop, claim will be settled like an ordinary claim and you will have to make full payment to the workshop. Thereafter, you can make a claim from the local office of the insurance company who will settle the claim in the conventional way.

In case of post-accident repair, will the insurance take care of all costs?

You will need to pay for the following costs which insurance will not cover:

  • In case of replacement of parts, depreciation is to be borne by you. Depreciation of rubber / plastic parts, battery, tyre, etc. is charged at the rate of 50%. Depreciation for metal parts / electrical parts depends upon the age of car as mentioned in your insurance policy.
  • Compulsory excess as mentioned in your policy
  • Any extra job done (i.e. not related to the accident) by the workshop on your instructions, e.g. maintenance-related servicing.
  • Cost of towing in excess of Rs. 1500 will be borne by you.

The cost payable by the insurance company will not be charged to you and will be settled directly between the workshop and the insurance company.

How am I required to pay for my share of repair costs to the workshop?

The workshop will inform you the costs to be borne by you towards depreciation, extra job done, etc. This must be paid to the dealer in cash before the repaired car is delivered back to you.

What is to be done if there is any injury and / or property damage to any third party?

  • Lodge an FIR with the nearest policy authorities and obtain a copy.
  • Provide a photocopy of your certificate of insurance to the affected third party.
  • Do not compensate the affected third party on the spot.
  • Inform insurance company office / Maruti Insurance at the dedicated customer support desk: 3377 4477 (prefix 011/022/033/044)/local office of the insurance company.

What to do in case of theft of accessories / car?

  • Lodge a FIR with the nearest police authorities and obtain a copy.
  • Inform Maruti Insurance at the dedicated customer support desk: 3377 4477 (prefix 011/022/033/044)

What to do in case of damage caused by terrorists, riots, malicious acts?

  • Lodge an FIR with the nearest police authorities and obtain a copy.
  • Inform Maruti Insurance at the dedicated customer support desk: 3377 4477 (prefix 011/022/033/044)

What types of damages are covered under Maruti Insurance Own Damage Policy?

The Insurance Company will indemnify the insured against loss or damage to the vehicle insured with the policies hereunder and / or its accessories whilst thereon:

  • Third Party Policy - This is a Liability Only Policy and covers all third party liabilities such as:
    • Bodily injury or death of third party
    • Property Damage of third party
    • Personal Accident cover for Owner-Driver is also included in Third Party Insurance
  • Own Damage (Package Policy - This covers Loss or Damage to the vehicle insured (Own Damage) in addition to the Third Party cover. It is also known as Comprehensive Cover. You can insure your car against damages due to:
    The Insurance Company will indemnify the insured against loss or damage to the vehicle insured hereunder and / or its accessories whilst thereon
    • Fire, explosion, self-ignition or lightning
    • Burglary, housebreaking or theft
    • Riot and strike
    • Earthquake (fire and shock damage)
    • Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
    • Accidental external means
    • Malicious act
    • Terrorist activity
    • Whilst in transit by road, rail inland-waterway, lift, elevator or air
    • Landslide, rockslide

When should I report to the police? 

Incidents such as “Third Party Property Damage”, “Bodily Injury to Self or Third Party” or “Theft” should be reported to the nearest police station, under whose jurisdiction the incident has occurred.

  1. What is Maruti Insurance?
  2. What can be covered under Maruti Insurance?
  3. What is No Claim Bonus? Under what circumstances No Claim Bonus (NCB) can be allowed?
  4. Can I transfer the No Claim Bonus (NCB) prevailing on my present policy to Maruti Insurance policy?
  5. Does Maruti Insurance charge extra premium for its unique benefits?

What is Maruti Insurance?

Maruti Insurance is a special motor insurance policy designed for Maruti Suzuki Car Owners brought to you by Maruti Insurance Broking Private Limited - an Insurance Broker licensed by IRDA.

What can be covered under Maruti Insurance?

Maruti Insurance insures:

  • All Maruti Suzuki cars can be insured with Maruti Insurance (vehicle should not be more than 10 years old when buying the first insurance. However once insured with Maruti Insurance, it can continue till you are covered under the comprehensive policy without discontinuation)
  • Both private and commercial vehicles can be insured.
  • Applicable depreciation can be covered by taking the Zero Depreciation* Add on Cover.

What is No Claim Bonus? Under what circumstances No Claim Bonus (NCB) can be allowed?

No Claim Bonus is a reward for filing no claim in the previous year. It can be accumulated over the periods of insurance. NCB starts with 20% and goes up to 50%

  • NCB becomes nil in case of a Claim
  • NCB follows the fortunes of the customer and not the vehicle
  • NCB can be utilized within 3 years (in case if the existing vehicle is sold and a new car is purchased)
  • NCB recovery to be done in case of a Name Transfer
  • NCB gets transferred to the legal heir in case of Death of customer
  • NCB can be transferred to a new vehicle in case of Substitution of vehicle of the same class

Can I transfer the No Claim Bonus (NCB) prevailing on my present policy to Maruti Insurance policy?

Yes, the NCB can be carried forward to your Maruti Insurance policy. This can be done either by showing the renewal notice you received from the previous insurance company or the previous policy copy and an undertaking stating that you have not made any claim on the policy.

Does Maruti Insurance charge extra premium for its unique benefits?

No, it’s free of any charges and is aimed at higher customer convenience only.

  1. What to do for renewal of Insurance?
  2. The Chassis / Engine has been changed in the vehicle, how can we now renew the policy with the new correct engine / chassis numbers?

What to do for renewal of Insurance?

  • Renewal Notice from Maruti Insurance will be sent to you well in time. It will indicate the premium to be paid for renewal with the details of coverage. You will receive a call from Maruti Insurance reminding you of the expiry of your policy. You may change the policy coverage details during this call.
  • You may also get in touch with Maruti Insurance either by calling at our dedicated customer support center at 3377 4477 (011/022/033/044), or visit our website to get your policy renewed.

The Chassis/Engine has been changed in the vehicle, how can we now renew the policy with the new correct engine / chassis numbers?

You can use the existing policy number to renew your policy. Also, you need to get the same changed in the RC book and intimate Maruti Insurance.