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Auto insurance, also known as car or motor insurance, offers coverage for your vehicle and yourself against losses and risks caused by natural disasters, theft, or accidents. This insurance shields you financially in case of any damages resulting from unexpected incidents and also provides third-party liability protection.
Global Insurance provides third-party, comprehensive, and own damage car insurance at reasonable rates. You can choose from the basic form of third-party car insurance to comply with legal requirements or opt for comprehensive or own damage policy for maximum protection. You can personalize your insurance coverage with ten helpful add-ons and adjust the insured declared value (IDV) to suit your vehicle. Our smartphone-enabled processes make purchasing or renewing a car insurance policy and filing a claim effortless and hassle-free.
Accidents
Damages and losses that could arise due to collisions and accidents.
Theft
Damages and losses incurred by your vehicle as a result of an unintentional fire.
Fire
Damages and losses incurred by your vehicle as a result of an unintentional fire.
Natural Disasters
If there is a car accident that results in the owner's death or disability
Personal Accident
If there is a car accident that results in the owner's death or disability
Third Party Losses
In situations where your vehicle causes losses and harm to another person's property or vehicle.
| Zero Depreciation Cover | The zero depreciation cover is ideal for vehicles that are less than five years old, as it allows you to eliminate the depreciation evaluated on your vehicle and its parts. This coverage provides you with the complete reimbursement of expenses for repairs, fees, and replacements, in case of a claim |
| Return to Invoice Cover | By opting for the "Return to Invoice" add-on, you can receive the complete invoice amount for your car, which covers the expenses of registering a new vehicle and the corresponding road tax, in the case of theft or irreparable damages. |
| Tyre Protect Cover | Ordinary insurance policies usually exclude coverage for tyre damage, except if it takes place during an accident. Therefore, the tyre protection add-on is designed to safeguard you against and financially compensate for tyre damages, such as cuts, bulges, and bursts, in any other situations. |
| Breakdown Assistance | At times, we all require some form of support, and with our breakdown support add-on, you can receive aid whenever necessary, especially during car breakdowns. The best part is that this service does not count as a claim. |
| Consumable Cover | A consumable cover provides an additional level of safeguard for your vehicle. In case of an accident, it compensates for the expenses related to the various consumable components of your car, including engine oils, screws, nuts and bolts, grease, etc. |
| Engine and Gear-box Protection Cover | Did you know that the replacement cost of an engine can amount to around 40% of its original value? A regular car insurance policy covers only the damages resulting from an accident. Nevertheless, by opting for the engine and gear-box protection cover, you can specifically insure your vehicle's engine and gearbox for the duration of its life, against any consequential damages caused by an accident. |
| Daily conveyance benefit | Insurance companies offer the Daily Conveyance Benefit add-on, which ensures that the policyholder is compensated for their daily transportation expenses during the period when the insured vehicle is being repaired. This compensation may be in the form of a fixed daily allowance or a replacement vehicle. |
| Key and Lock Protect | The Key and Lock Protect add-on insurance includes coverage for the cost of repairing or replacing the lockset in the vehicle, in case of theft, loss, or damage, with the insurer reimbursing the policyholder's expenses. |
| Loss to Personal belongings | If the policyholder or any member of their immediate family loses any of the personal property listed, while stored in the insured vehicle, the insurer will provide compensation. |
| Pay as you drive Cover | The pay as you go insurance policy enables the policyholder to receive a discount on the own damage insurance premium, based on the chosen plan. Additionally, the standard policy offers the option to include extra kilometres by paying an extra premium. |
It is equally important to comprehend what is not covered by your auto insurance policy to prevent unexpected surprises while making a claim. Here are a few examples:
Third-Party Policyholder's Own Damages:
Under a Third-Party or Liability-Only Car Policy, damages to one's own vehicle are not covered.
Driving Under the Influence or Without a License:
Driving while intoxicated or without a valid driver's license is not covered by the policy.
Driving Without a Valid Driver's License:
If you were driving with a learner's permit and without a valid driver's license holder in the front seat, it is not covered by the policy.
Consequential Damages:
Any damages that are not directly caused by the accident are not covered. For example, if the damaged car is driven incorrectly after an accident and the engine gets damaged, it will not be covered.
Contributory Negligence:
Any damages that are not a direct result of the collision are not covered. For example, if the damaged car is driven incorrectly after an accident and the engine gets damaged, it will not be covered.
Add-ons Not Purchased:
Add-ons deal with specific scenarios. If you have not purchased those add-ons, the associated situations will not be covered.
Third-Party Coverage:
Among the most commonly purchased types of car insurance is third-party coverage, which provides protection solely for losses and damages suffered by third-party individuals, vehicles, or property.
Comprehensive Coverage:
Comprehensive coverage is one of the most advantageous types of auto insurance, as it covers damages to your own vehicle in addition to third-party liabilities.
We are committed to simplifying insurance for you! We recognize that purchasing a car is already a significant expense, so we strive to make the process of making car insurance claims as easy and affordable as possible for you.
Protect Your Finances from Losses:
Whether you opt for third-party or comprehensive car insurance, having auto insurance can prevent you from paying exorbitant amounts of money in the event of losses resulting from accidents,natural disasters, fires, theft, and other unforeseen circumstances. You can also avoid costly traffic fines!
Avoid Problems Arising from Third-Party Damages
Accidents can happen to anyone. With auto insurance, you can pay for damages and losses to third parties in the event that you accidentally hit a person, vehicle, or property, saving you time and hassle!
Enhance Your Coverage with Add-Ons
If you choose comprehensive car insurance, you can improve your coverage with add-ons such as zero-depreciation cover, return-to-invoice cover, consumables cover, and breakdown assistance, among others.
Stay Law-Abiding
According to the Motor Vehicles Act, all vehicles must have third-party car insurance. Failure to do so will result in a fine of Rs 2,000 for the first offense and Rs 4,000 for the second.
Save Time and Money
With Global Insurance, you can complete everything from purchasing car insurance to filing a claim in just a few minutes, saving you time and money.
Here are some key factors to consider when selecting car insurance for your vehicle:
Buying Process
Choose an auto insurance provider that offers a quick and hassle-free buying process. With Global Insurance, you can purchase your car insurance in just a few minutes.
IDV
The Insured Declared Value (IDV) of your vehicle is a crucial component of your auto insurance policy as it determines the premium and the amount of claim settlement. At Global Insurance, you have the freedom to set your own IDV.
Service Benefits
Look for auto insurance providers that offer additional service benefits to enhance your coverage. For instance, Global Insurance provides Doorstep Pick-Up and Drop service for your convenience.
Claim Process
The claim process is the most important aspect of your car insurance policy. Make sure you select an insurer with a simple and efficient claims process to avoid any hassle in the event of an accident.
Claim Settlements
The claim settlement ratio is the percentage of claims paid out by an insurer. It is important to choose an insurer with a high claim settlement ratio to ensure that your claims are always paid out.
Customer Support
Good customer support is essential when it comes to auto insurance. Make sure you choose an insurer that offers 24/7 customer support so that you can always get help when you need it.
IDV
IDV in Car Insurance is the maximum amount an insurance company will pay if your car is stolen or completely destroyed. The IDV and your car insurance premium are linked, meaning that as the IDV increases, so does your premium. However, a higher IDV also means a better price when selling your car. It is important to choose an auto insurance plan that offers a good IDV and price.
No Claim Bonus (NCB)
No Claim Bonus (NCB) is a discount given to policyholders who do not make any claims during the policy term. The discount increases every year you renew your policy without filing a claim, up to 50% after five years. NCB is applicable to the policyholder, so it can be transferred to a new car or policy.
Zero Depreciation Cover
Zero Depreciation Cover is a policy that guarantees the full value of repair or replacement costs for parts of a car that lose value over time. This policy is recommended for cars less than five years old.
Cashless Claims
Cashless Claims are claims where the approved amount for car repairs is paid directly to the repair shop by the insurance company, as long as the repair shop is approved by the insurer. The insured is responsible for any deductibles or costs not covered by the insurance policy.
Several factors influence your car insurance premium, including:
• Type of car insurance policy
• Insured Declared Value (IDV) of your car
• Optional add-ons
• Deductibles
• No Claim Bonus (NCB)
• Make and model of your car
• Age of your car
Car insurance is mandatory in India for several reasons. It is established to ensure the safety of allparties involved in an accident, prevent pointless disputes, and reduce the financial burden on individuals. Here are some important things to know about car insurance:
Factors that affect your car insurance premium include the type of policy, your car's insured declared value (IDV), add-ons opted, deductibles, no claim bonus, make and model of your car, and age of your car.
One of the primary reasons car insurance is mandatory in India is the high rate of road accidents. Auto insurance protects parties who may be harmed in an accident or incident.
Third-party auto insurance is important as it protects the affected third party and compensates them in cases of car damages or physical damages, regardless of who is at fault.
Having a genuine auto insurance policy makes legal procedures easier when an accident occurs, reducing the time and energy spent on legal processes.
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