As EVs catch fire, insurance firms face pricing risk, BFSI News, ET BFSI

As EVs catch fire, insurance firms face pricing risk, BFSI News, ET BFSI

The woes of the electric vehicle owners who have been suffering after their vehicles caught fire may not be over as they may not get insurance claims for it. While a third-party insurance policy does not cover fire damages, the comprehensive policies do cover fire claims but that is not guaranteed. A comprehensive motor insurance … Read more

How many times can you claim with Zero Depreciation Car Insurance?

Motor insurance has become a need of the hour today, with new models of automobiles launching, even in the EV space. Experts say it becomes crucial for a person to buy motor insurance along with the possession and pride of a new vehicle since a comprehensive policy protects car owners from repairs due to accidental … Read more

Mistakes to avoid while buying fresh motor insurance and renewing an existing cover

Buying a new vehicle can easily be listed as one of the few most important purchases of a lifetime. Buyers ask around for opinions, plan their budget months in advance, and keep a tab on the latest features and models before they can finally make up their minds. So, quite understandably, nobody wants to see … Read more

Car Insurance Premium: 10 ways to reduce car insurance premium

When you buy a car, the convenience comes for a price. Besides maintenance, you also pay for the vehicle’s insurance, which has two components: ‘third party’ and ‘own damage’ or what is also known as ‘comprehensive’ insurance. While the former covers any damage or injury incurred by a third party in case of an accident, … Read more

Vehicle insurance premiums may increase from April – here’s how much it might cost you from 2022-23

Insurance premiums could increase from April this year, after a draft proposal by the government proposed hikes in third-party cover. If the proposal is passed, vehicle owners may have to shell out up to 21% more for third-party insurance. Insurance premium rates are usually revised annually, but the government had frozen rate hikes for two … Read more

5 Factors That Make Your Motor Insurance Stronger

Whether you own a two-wheeler or a four-wheeler, motor insurance renewal is often influenced by pricing considerations, especially as the vehicle’s age increases. However, with auto parts and repair costs increasing by the day, it is important to ensure that the purchased motor insurance policy covers all types of damage and other risks involved. Understanding … Read more

Are you buying car insurance in 2022? Here’s an updated guide for your reference

All of us who don’t own a car with the right insurance for it will dread seeing our vehicle damaged. Adding to the inconvenience will be the situation of being without personal transport, especially in the current environment, where we are increasingly dependent on our vehicles. So, it becomes crucial to invest in insurance for … Read more

Misfueling cover in India: Damaged car or bike engine after using wrong fuel? Will motor insurance help?

Misfueling cover in India: Using wrong fuel in a vehicle can cause some serious damage to its engine. However, motor insurance policies do not provide any protection against such act of negligence. Mis-fueling is treated as a contributory negligence, which is typically not covered by insurers. Motor insurance products currently provides cover only for defined … Read more

Car Insurance: Add-on covers help protect your car better

When buying a motor insurance policy, one must look at a comprehensive policy along with add-on covers such as zero depreciation, engine cover, vehicle replacement, roadside assistance and towing, etc. These optional add-on covers will cover those elements which are excluded from the policy. Comprehensive cover A comprehensive motor insurance will cover own-damage as well … Read more