MOTOR INSURANCE

Car Insurance — Smart Coverage for Your Four-Wheeler

Protect your car with comprehensive or third-party insurance from India’s top insurers. Compare plans, save on premiums, and enjoy hassle-free claims with FMC Insurance Bazaar.

What is Car Insurance?

Car insurance is a financial protection product that covers your vehicle against damages caused by accidents, natural disasters, theft, and third-party liabilities. Under the Motor Vehicles Act 1988, having at least a third-party car insurance policy is mandatory for every vehicle owner in India.

A comprehensive car insurance policy goes beyond the legal minimum by covering both own damage and third-party liability, ensuring complete protection for you and your vehicle. FMC Insurance Bazaar helps you compare plans from 20+ insurers to find the best coverage at the most affordable premium.

Why Do You Need Car Insurance?

Legal Requirement — Third-party insurance is mandatory under the Motor Vehicles Act 1988
Financial Protection — Cover repair costs from accidents, natural calamities, and vandalism
Third-Party Liability — Covers legal liability if your car causes injury or damage to others
Theft Protection — Get compensated if your vehicle is stolen
Personal Accident Cover — Covers medical expenses for owner-driver in case of accident
No Claim Bonus — Earn premium discounts for claim-free years

Key Benefits of Car Insurance

Accident Coverage

Covers damage to your car from collisions, overturning, and other accidents on the road.

Natural Calamity Cover

Protection against floods, earthquakes, storms, lightning, and other natural disasters.

Third-Party Liability

Covers legal liability for injuries or property damage caused to third parties by your vehicle.

Theft Protection

Full compensation at IDV value if your car is stolen and not recovered.

Personal Accident Cover

Mandatory ₹15 lakh personal accident cover for owner-driver under IRDAI guidelines.

Roadside Assistance

24/7 roadside assistance including towing, battery jumpstart, flat tire help, and emergency fuel.

Types of Car Insurance Plans

Third-Party Only

Mandatory legal coverage that protects against third-party liabilities. Covers injuries, death, or property damage caused to others. Most affordable option. Does not cover own vehicle damage.

Comprehensive

Complete protection covering both own damage and third-party liability. Includes natural calamity, theft, fire, and personal accident cover. Best value for complete peace of mind.

Zero Depreciation

Add-on cover that eliminates depreciation deduction during claims. Claim the full repair cost without any reduction for wear and tear. Ideal for new cars and luxury vehicles.

Car Insurance Claim Process

Intimate Claim

Call us or the insurer immediately after the incident.

File FIR if Needed

For theft or major accident, file an FIR with the police.

Submit Documents

Submit claim form, photos, RC copy, and policy details.

Surveyor Inspection

Surveyor assesses damage and prepares a report.

Claim Settlement

Claim approved and amount settled to your account or garage.

Documents Required for Car Insurance

Vehicle Registration Certificate (RC)
Previous Insurance Policy (for renewals)
Driving License of the Owner
PAN Card or Aadhaar Card
Vehicle Inspection Report (if expired policy)
Pollution Under Control (PUC) Certificate

Frequently Asked Questions — Car Insurance

What is IDV in car insurance?

IDV (Insured Declared Value) is the maximum amount the insurance company will pay if your car is stolen or totally damaged beyond repair. It is calculated based on the manufacturer’s listed selling price minus depreciation based on the vehicle’s age.

What is No Claim Bonus (NCB)?

No Claim Bonus is a discount offered on the premium for every claim-free year. It starts at 20% after the first year and can go up to 50% after five consecutive claim-free years. NCB is transferable between insurers.

Is third-party car insurance mandatory in India?

Yes, under the Motor Vehicles Act 1988, it is mandatory for every motor vehicle in India to have at least a third-party liability insurance policy. Driving without insurance can result in penalties including fines and imprisonment.

What is the difference between comprehensive and third-party insurance?

Third-party insurance only covers liabilities towards third parties (injuries, death, property damage). Comprehensive insurance covers both third-party liability AND own vehicle damage including accidents, theft, natural calamities, and fire.

How can I transfer my NCB when changing insurers?

You can transfer your NCB by requesting an NCB certificate or proof from your previous insurer. The new insurer will verify this and apply the applicable discount to your new premium.

What are add-on covers in car insurance?

Add-on covers are optional coverages you can purchase with comprehensive insurance for extra protection. Common add-ons include zero depreciation, roadside assistance, engine protection, return to invoice, and key replacement cover.

How long does a car insurance claim take to settle?

Cashless claims at network garages are usually settled within 2-4 hours for approval. Reimbursement claims typically take 7-15 working days after submission of all documents. FMC Insurance Bazaar helps expedite the process.

Can I buy car insurance online through FMC Insurance Bazaar?

Yes, you can get a car insurance quote online through our website, or call us for personalized assistance. Our experts will compare plans from 20+ insurers and help you purchase the best policy with minimal documentation.

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