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General Questions on
Maruti Insurance |
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| Q. |
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What
is Maruti Insurance ? |
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| Q. |
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What
are the Unique Benefits offered by Maruti Insurance ? |
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| Q. |
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What
can be covered under Maruti Insurance ? |
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| Q. |
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From
where can I get my Car insured through Maruti Insurance ? |
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| Q. |
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Can
I transfer my No Claim Bonus (NCB) prevailing on my present policy
to Maruti Insurance policy ? |
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| Q. |
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In
case of migration to another city, what is to be done ? |
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| Q. |
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In
case of an out-of-town accident, whom do I contact? |
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| Q. |
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In
case of accident, can the car be repaired at any workshop ? |
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| Q. |
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In
case of post accident repair, will the insurance take care of all
costs ? |
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| Q. |
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How
am I required to pay for my share of repair costs to the workshop
? |
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| Q. |
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Does
Maruti Insurance charges extra Premium for its Unique Benefits? |
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| Answers
(General Questions on Maruti Insurance) |
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| Q. |
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What
is Maruti Insurance ? |
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| A. |
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Maruti Insurance is the brand name under which Maruti has tied up
with Insurance Companies to provide better Insurance Services to
its Customers. Maruti has tied up with 4 Insurance companies i.e
Bajaj Allianz, National Insurance Company, Royal Sundaram and New
India Assurance Co. Ltd. to provide Insurance Services. |
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| Q. |
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What
are the Unique Benefits offered by Maruti Insurance ? |
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| A. |
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Benefits of Maruti Insurance
Near Cash-Less accident repairs:
All Maruti dealers will provide the customer with near cash-less
repairs in their claim settlement. This means that the customer
would not have to pay to the dealer for the repair charges to the
extent it is payable by Insurance Co. Customer will just pay for
the compulsory excess (fixed as per tariff according to the cubic
capacity (cc) of the car) and applicable depreciation, which varies
depending on the age of the vehicle and the type of the replaced
parts. Rest of the amount will be settled directly between the dealer
and the Insurance company.
Seamless services across nation:
The customer can get all the services like buying new policy, effecting
renewals, endorsements and claims at any Maruti authorized dealer
outlet across the dealer network spread all over India. The services
cover right from policy issuance to emergency assistance to post
accident repairs and claim settlement
Faster & Fair Claim settlement:
With Maruti Insurance there are no hassles like Insurance Co. is
not giving fair claim settlement. Whatever is payable by standards
is admissible by Insurance Co. The customer is not forced to bear
the undue differential cost of repair/ replacement.
Easy settlement of claims with no follow-ups:
There would not be any need of the customer's personal involvement
with the surveyor or Insurance company, nor would the customer have
to worry about salvage disposal in the process of settlement of
claims. All this will be taken care of by the dealer.
Repairs at Authorized Dealer workshops:
After an accident, the damaged vehicles are repaired at the Authorized
Dealer workshops that are equipped with the best facilities and
infrastructure. This would lead to quality repairs with Maruti Genuine
spare parts and trained mechanics with Maruti Insurance the customer
need not compromise on the quality of repairs and thus health of
the car, by going to smaller roadside workshops. f.
Dealer Assisted towing facility:
Towing assistance would be provided, for getting the vehicle
to the dealer workshop, in case of accidents where the vehicle has
been rendered immobile. This facility is available free of cost
upto Rs 1500/- If the cost incurred for towing is more than Rs1500/-
then the excess amount will be borne by the customer. This can be
increased should the insured prefer so by paying extra premium at
the time of policy issuance.
Easy transfer of No claim bonus:
No matter which Insurance company the customers' vehicle
was previously insured with, his no claim bonus earned on previous
policy will be easily transferred to Maruti Insurance policy that
a customer is buying at the time of renewal. h.
Instant Policy issuance:
No longer would the customer need to wait for the policy document,
which sometimes takes months to get delivered from the Insurance
company. With MI, the policy is issued through Internet and it is
instantaneous.
Faster refunds and cancellations & Policy Verification:
Maruti Insurance is completely driven by IT systems and thus it
is possible to have a faster response time for cancellations and
refunds compared to other Insurance companies. At the time of payment
of claims also, the policy and premium credit verification is instant.
This adds to both Dealer and Customer comfort. |
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| Q. |
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What
can be covered under Maruti Insurance ? |
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| A. |
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Maruti Insurance insures :
a) Maruti Vehicles upto 7 years old. However, this restriction is
not applicable if the Previous insurance is Maruti Insurance.
b) Both Private and Commercial vehicles can be insured
c) Package Policy (Comprehensive Insurance) can be taken, no Third
Party Only policy is given. |
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| Q. |
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From
where can I get my Car insured through Maruti Insurance ? |
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| A. |
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Maruti Insurance can be taken from any Maruti Authorized Dealer
across India. The Dealer will issue the Policy directly from the
Internet. Alternatively, the insurance details can be entered on
our website, our team will get in touch with you soon. |
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| Q. |
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Can
I transfer my No Claim Bonus (NCB) prevailing on my present policy
to Maruti Insurance policy ? |
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| A. |
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Yes, the NCB can be carry forwarded to your Maruti Insurance Policy.
You need to pay exactly the same premium, what you would had paid
to your previous Insurance company. |
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| Q. |
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In
case of migration to another city, what is to be done ? |
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| A. |
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Select any Maruti dealer of choice in the new city, who will guide
you in the same way as the dealer from where you originally obtained
your insurance. You may subsequently renew your insurance with the
selected dealer. |
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| Q. |
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In
case of an out-of-town accident, whom do I contact ? |
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| A. |
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Contact any Maruti dealer, who will assist you in the same way as
the dealer from where you originally obtained your insurance. |
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| Q. |
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In case of accident, can the car be repaired at any workshop ? |
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| A. |
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You
will receive the same services from any Maruti dealer workshops
that you select for post accident repair. These services include
certain facilities that will be for your convenience which are available
only at all Maruti dealer workshop. However, in case you opt for
any other workshop, these facilities will not be provided by Maruti
Insurance. |
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| Q. |
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In case of post accident repair, will the insurance take care of
all costs ? |
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| A. |
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You
will need to pay for the following costs which insurance will not
cover: In case of replacement of parts, depreciation depending on
age of car and item replaced is applicable. This is as mentioned
in your insurance 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, and all other costs
will be borne by you. The actual cost of restoring your car to its
pre-accident condition will be settled directly between the workshop
and the insurance company. |
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How am I required to pay for my share of repair costs to the workshop
? |
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| A. |
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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 before the repaired
car is delivered back to you. |
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| Q. |
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Does
Maruti Insurance charges extra Premium for its Unique Benefits? |
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| A. |
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No,
Motor Insurance is a Tariff Insurance Product, which means the premium
has to be same for all Companies, provided they offer the same cover.
The premium rates can differ only
when there are some exclusion in the Cover.
Factors affecting Premium are:
1. Third Party Cover (TP)
The Premium is Rs. 500/600/700 based on Vehicle CC.
It covers TP Life for Unlimited Value and and
TP Property damage for Rs. 7.5 Lacs
There is an option to reduce the insurance company
liability from 7.5 Lacs to Rs. 6000, the premium would reduce by
Rs.100
2. Owner Driver Personal Accident Cover
It is mandatory to give, its insures Vehicle
Owner for Rs. 2 Lacs, premium cost is Rs. 100.
But in case the Owner has another vehicle in
his name, and has taken this cover in that vehicle also, this Cover
can be made Optional, and premium can be reduced by Rs.100
3. Anti Theft Device discount
If you car is fitted with an Alarm Central locking
system (with remote), you are entitled for an Anti theft Discount,
which can be upto Rs. 500, depending on your Total Premium.
Presently only Maruti Insurance is offering this discount.
4. Voluntary Excess/ Deductible
This is an option that if the Customer agrees
to bear the first claim cost upto Rs. 2500/5000/7500/15000, the
customer can get discount upto Rs.750/1500/2000/2500 respectively
at the time of taking Insurance.
5. Personal Accident Cover for Passengers
This is 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 proportionately upto Rs.5 for Rs.10000
cover.
6. Registration City
Premium Rate varies based on Registration City also.
7. Other factors which are for Premium Calculations are:
a) Insured Declared Value (IDV), Insured Vehicle Value
b) Engine CC
c) Discounts- No Claim Bonus, Automobile Association Membership
d) CNG/ LPG- Inbuilt or External
e) Electrical / Non Electrical Accessories insured
f) Vehicle type- Private or Commercial
g) Customer type- Individual/ Corporate |
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