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Products Description
Car Insurance Package Policy

A Package Policy covers you for your ‘Own Vehicle Damage’ as well as for ‘Third Party Damage’

‘Own Damage’ section covers you for:

  • Accidental External means
  • Theft, Burglary or Housebreaking
  • Fire, Explosion, Self–ignition, Lightening
  • Terrorism, Riots, Strikes or Malicious Acts
  • Transit by Road, Rail, Inland Waterway, Air, Lift
  • Earthquake, Flood, Storm, Landslide or Rockslide

‘Third Party’ section covers you for:

  • Unlimited legal liability and liability for third party property damage upto Rs. 750,000/-
  • There are two optional coverages that can be incorporated as part of the package policy.
    • First being a personal accident cover for unnamed occupants. The number of occupants to be covered is determined by the seating capacity of the car. The maximum cover that can be given to each occupant is of Rs. 200,000/-
    • The second optional coverage is the legal liability of the paid driver (chauffeur). The coverage is provided under the ‘Workmen Compensation Act’

You Are Not Covered For:

  • General aging, wear and tear
  • Damage by a person driving without a valid driving license
  • Mechanical or electrical breakdown or failure
  • Damage by a person driving under the influence of liquor or drugs
  • Depreciation
  • Consequential Loss
  • Consumables
  • Hydrostatic Loss
  • Loss / damage attributable to war, mutiny, nuclear risk
  • Damage to tyres and tubes, unless damaged during an accident
  • Loss / damage outside India

Some of these exclusions can be covered. There are ADD-ONs which can help you protect your Car COMPLETELY!

These ADD-ONs are as under:

Zero / Nil Depreciation: (Commonly known as Bumper to Bumper Policy)

This plan covers the Depreciation Payable by you on the repair bill of the car.

For Example, if the repair bill of a Maruti Swift is Rs. 50000/- the approximate Depreciation shall be Rs. 18000/- and the amount for Consumables used is Rs. 4000/- then your share, after the deduction of Depreciation, Consumables and Compulsory Deductible shall be Rs. 27000/-

If you opt for the Zero / Nil Deprecation ADD-ON, your share shall be Rs. 5000/- ONLY!

Consumables Cover:

This plan covers the Consumables Payable by you on the repair bill of the car.
In the above Example, if you opt for the Consumables Cover also, your share shall be Rs. 1000/- ONLY!!

Engine Protector:

This ADD-ON pays for your repair of Car’s Engine, in case of Seizure, if caused by either driving the car without Engine or Gear Oil due to Accidental Leakage or You try to start the vehicle when it is stuck in a water logged area. This ADD-ON covers the Consequential Damage, which is excluded in the Package Policy

Tyre Cover:

This ADD-ON pays in case of Bursting of Tyres for High End Cars.

Return to Invoice:

This ADD-ON covers the On Road Price of the Car, in case of Theft or Total Loss, i.e., it reimburses you the Ex-showroom Price, Road Tax and Registration Charges.

For Example: If the IDV of a Honda City is Rs. 7 Lacs and the On Road Price of the Car is Rs. 10 Lacs, then in case you do not opt for the Return to Invoice ADD-ON, you would be reimbursed the IDV less the Compulsory Deductible, i.e. Rs. 6.98 Lacs. If you opt for this ADD-ON then you shall be reimbursed the current On Road Price of the same car, subject to a maximum of Rs. 9.98 Lacs.

NCB Protection:

This ADD-ON protects your NO CLAIM BONUS, despite having claimed in the expiring policy.

Road Side Assistance:

This ADD-ON provides you help not only in case of an accident but even during Breakdowns or if you run-out of Fuel or in case you have a Flat Tyre. They also help you in case your keys get locked inside the car. This is a very useful plan especially for Ladies.

Description of Terms:

Depreciation: The reduction in the value of the parts due age, usage and wear & tear

Consumables: Parts / Items which are consumed during the running of the vehicle and those which are not re-useable, such as, Oils, Coolant, AC Gas, Nuts & Bolts, Screws, Washers, Sealants, etc.

Compulsory Deductible: The Component of Claim which is not reimbursable, as per guidelines from IRDA. The amount has been classified based on the cubic Capacity of the car.

Consequential Damage: Further damage caused to the car by driving it in after an accident.

Total Loss: A car is said to be a Total Loss, in case the repair bill is more than 75% of the IDV.

Ex-showroom Price: The manufacturer price plus the Local VAT

Insured Declared Value (IDV): This is the Ex-showroom Price less the Depreciation for the Number of Years the car has been driven.


  • All the ADD-ONs may not be offered by all the companies

  • There may be specific conditions, such as, Age of the Car, Type of Vehicle, NCB Status, etc. for the offer of the ADD-ONs

  • Pre-Inspection of the car may be required for ADD-ONs, as per the Insurance Company Norms

  • The ADD-ON Plans may be altered or withdrawn by the Insurance Companies at any time, without prior notice