Best Motor Insurance with Cashless Repairs

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Car Insurance

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99% Claim Settlement Ratios*

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*Disclaimers/Conditions Apply

Benefits of Motor Insurance For You

The following are the benefits of motor insurance for you:

Compliance: In India, it is mandatory by law to have insurance for your vehicle.
Financial Safety: Accident repair and recovery costs are covered, so you don’t have to pay.
Peace of Mind: Enjoy the ride, and do not worry about repair costs in case of unfortunate events
Complete Protection: Protection from theft, natural disasters, terrorism and more.
Extra Perks: Various addons available like roadside help, zero dep, bumper-to-bumper, return to invoice, and more.

What is Covered and What is Not Covered in Motor Insurance Policy?

There are certain inclusions and exclusions in your motor insurance coverage that you must be aware of before buying your insurance:

What is Covered?

Damage to the vehicle in an accident or mishap
Natural disasters like floods and earthquakes (acts of God)
Transit damage
Damage from fire, theft, riots, strikes, terrorism
Damage to the vehicle due to internal technical problems

What is Not Covered?

Driving under the influence of alcohol or drugs
Driving without a valid driving license
Rash or negligent driving
Using the vehicle for illegal activities
Driving outside India (unless specifically covered in your policy)
Normal wear and tear (depreciation)

Top Motor Insurance Companies in India

The following are some of the top motor insurance companies in India:

Insurance Company	Claim Settlement Ratio (%)	Network Garages
SBI General Insurance	99.0	16,000+
HDFC ERGO General Insurance	98.5	6,800+
Bajaj Allianz General Insurance	98.5	4,000+
Royal Sundaram General Insurance	98.6	3,300+
Reliance General Insurance	98.0	8,200+
Liberty General Insurance	98.0	4,500+
Kotak Mahindra General Insurance	98.0	2,327+
Zuno / Edelweiss General Insurance	98.0	1,500+
Magma HDI General Insurance	97.1	4,000+
Future Generali General Insurance	96.3	3,500+
Digit / Go Digit General Insurance	96.0	6,000–6,500+
Chola MS General Insurance	96.0	4,636+
Universal Sompo General Insurance	96.0	3,500+
Shriram General Insurance	96.0	2,000+
IFFCO Tokio General Insurance	95.8	4,300+
United India Insurance	95.0	3,100+
ICICI Lombard General Insurance	95-96	5,600+
Bharti AXA General Insurance	95	5,200+
Oriental Insurance	94.0	3,100+
National Insurance	93.0	3,100+
New India Assurance	92–95	3,000+
Raheja QBE General Insurance	92	1,000+
Tata AIG General Insurance	92	7,500+
Acko General Insurance	72–91	2,000+

Why Choose InvestKraft for Your Motor Insurance?

We know you have plenty of options, but here is why choosing InvestKraft makes all the difference:

Completely Digital: No paperwork, no waiting time, get your insurance in a few minutes. The same goes for the renewal of your motor insurance.
Totally Customisable: Whether you want to add roadside help or want to remove previous add-ons, you can do so at your convenience. You are in absolute control.
Fully Transparent: Nothing will be hidden from you. See what you are paying for. Understand your coverage clearly with no hidden charges.
Completely Secured: InvestKraft makes sure all your payments are absolutely safe and through secure gateways.

Like You, Many Others Prefer InvestKraft for Motor Insurance

With our simplified, secure and smart insurance services, we have:

7.5 Lakh +1

Trusted Customer

4 Years +

Years of Excellence

10 +

Insurance Partners

Let us Learn More About Motor Insurance in India

Before we explore more about motor insurance, let us first look at the highlights:

Motor insurance is a financial safety net for your vehicle.
It is a legal contract between you and the insurance company.
You pay some fixed amount every year or month (also known as a premium), and in return, the insurance company promises to cover you in case your vehicle is damaged or stolen.
As per your chosen insurance, various other aspects are also covered, like injury or death during the accident and other aspects.

Whether you drive a car, scooter, truck, or bus, motor insurance is of utmost importance.

Why is Motor Insurance Mandatory by Law in India?

The following are the reasons why motor insurance has become mandatory in India:

Due to severe accidents and mishaps on roads, there is a loss of life or vehicles or both.
And when it happens, someone has to pay for the damages.
This is the reason why the Motor Vehicles Act, of 1988, says every vehicle on public roads must have insurance.

What are the Categories of Motor/Vehicle Insurance in India?

The following are the three categories of motor/vehicle insurance in India, and you can get the best vehicle insurance only on InvestKraft:

Car Insurance

Bike Insurance

Commercial Vehicle Insurance

What are the Types of Motor Insurance Policies?

There are mainly three types of motor insurance policies, depending on coverage:

Third-Party Liability Only

This is mandatory by law. It covers injury or damage caused to others. However, it does not cover your own vehicle. This is the reason it is cheap.

Comprehensive Insurance

The most premium type of insurance. It covers third-party and your own vehicle. It has add-ons too, in which you can get injury cover for you as well as for third-party.

Standalone Own Damage

This covers your own vehicle’s damage. You should combine this with a third-party policy for full protection.

What are the Documents Required for Motor Insurance?

The following are the documents required for motor insurance:

RC (Registration Certificate)

Driving Licence

Identity Proof (Aadhaar, Voter ID, etc.)

Address Proof (Utility bills, Passport, etc.)

Previous Insurance (if any)

Passport-size photos (2-3)

PUC (Pollution certificate)

Vehicle Invoice (for new vehicles)

Depending on the company from which you are buying the motor insurance, they may ask for more documents. We recommend that you buy insurance from us as we are one of the registered companies by IRDAI, and thus, we follow a standardised process for motor insurance.

What are the Components of Motor Insurance Policy?

The following are the parts of the motor insurance policy. We recommend that you go through them so that there is no confusion when you read your motor insurance policy:

Premium

The amount you regularly pay to stay covered.

Deductible

The amount you have to pay out of your pocket during a claim.

No Claim Bonus (NCB)

Discount for not making claims.

Add-ons

Extra benefits you can buy.

Insured Declared Value (IDV)

The maximum amount you can get if your vehicle is destroyed in an accident or is stolen.

What are the Popular Add-Ons for Motor Insurance?

The following are some of the popular and important coverages that you can add to your current comprehensive policy:

Zero Depreciation

Full value claim. No deduction for wear and tear

Roadside Assistance

24/7 help if your car breaks down

Engine Protection

Apart from regular damage, it covers water damage as well. Mostly in floods, the engine gets locked, and it is a huge cost for car owners.

Key Replacement

Lost your car keys? Get another cost-free of charge.

Return to Invoice

Get the full purchase price if the car is destroyed or stolen.

NCB Protector

Keeps your No Claim Bonus safe even after a small claim

Personal Accident Cover (Mandatory)

Covers injury/death of the driver

Passenger Cover

Adds a safety net for your co-passengers, too.

Outstation Emergency Cover

Help if stuck far from home (living, food and fuel expenses apart from other expenses if required)

How to Choose the Right Motor Insurance Policy?

Now, we know that the market has been flooded with hundreds of insurance policies for your vehicle, and each one claims to be the best. Well, here, we will clear your doubts:

Buy from a registered insurance seller: Always check if the company from which you are buying insurance is registered and recognised, as the chances of fraud are always there. InvestKraft is registered with IRDAI and can take care of all your insurance needs.
Know What You Need: If you have a new car, go with comprehensive insurance along with the necessary add-ons. However, if you have an old vehicle, go for third-party insurance.
Compare Policies: You can use various tools available to compare policies. Check for premiums, features, claim process, claim time and other hidden expenses.
Check Claim Settlement Ratio: This is a very important ratio that tells a lot about the company from which you are buying insurance. It tells you how often the insurer actually pays up!
Look at Network Garages: The higher the number of cashless garages, the faster repairs will be.
Check for Discounts: Insurance companies give a bonus for clean driving, anti-theft devices, and some other criteria.
Read the Fine Print: Always read the terms and conditions carefully. Take time to read those. There is a reason why they are printed small, as many times, companies try to hide their policies by printing them in small letters in the terms and conditions document.

Why Renew Motor Insurance Through InvestKraft?

The following are the reasons why you should trust us with your insurance requirements:

100% Online, Contactless Renewal: No paperwork, no queues. Renew from anywhere - phone, laptop, sofa.
Superfast and Easy: All you need to do is enter a few details and some clicks, and DONE! Your policy is in your inbox, no waiting at all.
Customise As You Like: Whether you want to add roadside help or want to remove previous add-ons, you can do so at your convenience. You are in absolute control.
Full Transparency: Nothing will be hidden from you. See what you are paying for. Understand your coverage clearly with no hidden charges.
Safe and Secure: InvestKraft makes sure all your payments are absolutely safe and through secure gateways.

Frequently Asked Questions (FAQs)

A: Yes, third-party liability insurance is mandatory under the Motor Vehicles Act, 1988.

A: Third-party insurance covers damages to others, while comprehensive insurance covers both third-party liabilities and damages to your own vehicle.

A: No, motor insurance is vehicle-specific and cannot be transferred.

A: NCB is a discount on premiums offered for maintaining a claim-free record.

A: You can renew your policy online using the InvestKraft platform or offline by paying the premium before the expiration date.

A: In India, third-party insurance is a mandatory requirement for all two-wheelers, as stipulated by the Motor Vehicles Act. This type of insurance provides coverage for liabilities that may arise from damages to third parties in the event of an accident involving the insured vehicle.

A: In India, it is prohibited to transfer ownership of a bike without valid insurance. To complete the transfer process at the RTO, one must possess valid insurance. Without it, the transfer cannot be executed.

A: Driving without car insurance in India can result in severe penalties, such as fines, and imprisonment. The law requires at least third-party insurance, which covers damages to others. Failure to comply can lead to legal repercussions and financial responsibility for any damages.

A: Car insurance claims in India usually take around 30 days to settle. However, the time may vary depending on the complexity of the claim and the insurer’s procedures. Factors like the completeness of documentation and the nature of the incident can impact the timeline.

A: The most basic car insurance is a Third Party Liability policy, which is required by law under the Motor Vehicles Act of 1988. This policy provides coverage for any damage to a third party's property or injuries they incur as a result of an accident involving your insured vehicle.

Best Motor Insurance with Cashless Repairs

Benefits of Motor Insurance For You