MOTOR INSURANCE

Insuring your car against the risks of Third Party liability is mandatory as per Motor Vehicles Act 1988.Most private car owners however prefer comprehensive or package policy covering the risks of loss or damage to the car-Own Damage in addition to the Third Party Liability Risk.

Motor Own Damage Insurance is a form of insurance to help you in the event of damage to your car in an accident.Motor Own Damage Insurance covers a wide variety of cases,from broken windows to theft or damages arising out of an accident.

Motor third-party insurance cover,which is also referred to as the‘act only’cover,is a statutory requirement under the Motor Vehicles Act,1988.It is referred to as a‘third-party’cover since the beneficiary of the policy is someone other than the two parties involved in the contract(the car owner and the insurance company).The policy does not provide any benefit to you.However,it covers any legal liability that you may incur due to death/disability of third-party and/or loss or damage to the third-party property while using the car.

Yes,it is compulsory to insure the Registered Owner of the vehicle against risk of Personal Accident only if he/she holds a valid driving license.This cover is available on payment of a nominal premium amount.

Yes,it is possible to insure the paid driver(Legal Liability to Employees)under provisions of Workmen’s Compensation Act as amended.This cover is available on payment of a nominal premium amount.

Yes,they may be insured against risk of Personal Accident for a sum not exceeding Rs.2 lakhs per passenger by paying an additional nominal premium.

No Claim Bonus is allowed to the Insured and not to the insured car.Hence,on sale of the car,the insurance policy can be transferred to the new owner but not the No Claim Bonus.The new owner has to pay the difference on account of No Claim Bonus for the balance policy period.The original owner can,however,use the No Claim Bonus from his old car(the one he has sold)to a new car purchased by him.For this he has to apply to the existing insurance company and get the No Claim Bonus reserving letter

For the Own Damage Claims Yes,you can opt for a cashless claim settlement if you approach ourFuture Generali Convenient Workshopsfor repairs to your car.In case you get your car repaired in a non-network workshop,Claims will be directly settled to you upon submission of all required documents with 7 working days.

Third Party claims are awarded by Motor Accident Claims Tribunals as per provisions of Motor Vehicles Act 1988 and settled by Future Generali.

Yes,you have to contribute a minimum amount towards own damage claims which is known asDeductible-e.g.Rs.1000 for each claim for car with cubic capacity up to 1500 CC will have to be borne by you.In addition,replaced parts are subject to the depreciation scale(ReferPolicy Wordingsfor the scale of depreciation applied for various parts)in the claim assessment.For e.g.50%depreciation is applied on all the plastic parts.

Note:depreciation waiver cover can be separately opted.Zero depreciation add on coveris provided by Future Generali for vehicles up to the age 5 years.