NCB stand for no claims Bonus. it is a discount on premium that is based on vehicles has not made a single claims throughout the motor insurance policy terms.

NCB % (No Claim Bonus) : NO NCB only for >

  • CASE 1 : For New Vehicle
  • CASE 2 : Expiry date > Equal to or more than 90 Days
  • CASE 3 : Previous Policy set to > No
  • CASE 4 : Policy Expired & claimed.

NCB % (No Claim Bonus) : NCB only for >

  • CASE 1 : Expiry date > Less than 90 Days
  • CASE 2 : Previous Policy set to > Yes

It include the Electrical and electronic Value of Vehicles. These items are not sold by the vehicle manufacturer.

It is a written evidence of an agreed change in policy. It is the document that incorporates change in the terms of policy. It can be two types-

  • Premium Bearing
  • Non Premium Bearing

Any changes in the policy details like Cancellation of cover are done through a document called endorsement.

Policy can be extended to include Bangladesh, Burma, Nepal, Pakistan, Sri Lanka, Maldives by charging the extra Premium.

For Private Vehicles there are two Zones

Zone A Delhi/Mumbai/Kolkata/Chennai, Ahmadabad/Pune and Hyderabad

Zone B Rest of India

For Commercial Vehicles:-

  • Zone A Delhi/Mumbai/Kolkata/Chennai
  • Zone B All Other State of Capital
  • Zone C Rest of India

Yes, you can get if you remember either policy number or vehicles number.

IDV stand for Insured declared value. It is maximum amount that paid by company at the time of claims if vehicles is damage or theft.

It is temporary insurance proof. Within the 45 days it should be replaced with original insurance document.

Yes it is applicable.

Yes, they are valid

  1. a. They are system generated documents
  2. b. Stamp need not be affixed. Stamp duty is paid and defaced and retained at the office

Yes you can cancel policies which are originally bought online

Policy number

Send cancellation request email along with policy details

Refund for the same will be made according to the company prescribed rules

No, it is not mandatory however if you bought the vehicles on loan that time it is mandatory.

You can Pay Payment in three Modes:-

  • Net Banking
  • Debit/ Credit Card
  • Cheque payment
  • Dealer Cheque

NO, only cheque and NEFT applicable.

No need of original Copy only Pdf will be sent on your registered email id that equals to the original paper.

Yes, Term & Condition page.

At the time of Filling of Form you can edit the number after click Edit option. But, if it is disabled and you are unable to modify it. If policy is generated and customer needs to change the chassis or engine number then it is done through endorsement process.

If its issued from My Policy Now will be available on my account , if its issued from other brokers/dealers/insurance company customer need to ask them to provide the policy copy.

Liability insurance basically covers legal liabilities that have been caused by your vehicle to a third party, leading to loss of life and property of the third party.

Maximum 3 year gap is fine between Manufacturing year and Registration Date

Insured should contact the policy issuing office.

Yes, it is possible.

There are 2 type of form:

  • Form A:-To cover the Liability
  • Form B: - To cover own Damage +Act Liability

Driving License, Registration Certificate Book , Fitness Certificate, Permit, Police Report, Final Bill for Repair, Satisfaction Note, Receipts Bill.

Whenever the Surveyor finds that a vehicles is either beyond repairs, or cost of loss repairs exceed 75% of the IDV.

TL can also arise due to theft of the vehicles remaining by the police authorities. The police keep investigation going until the vehicle is traced. Police investigation is opened in 90 days. If vehicle not traced will close the case and issue the final report.

Short Form:-

  • TP Third Party
  • OD - Own Damage
  • IDV-Insured Declare value
  • NCB- No Claim Bonus
  • Deductibles Amount Deducted from Claims

It is very important class of insurance as no vehicle can run on the roads without having the insurance especially third Party.

IRDA is national Agency of Government of India, based on Hyderabad. it I formed by an Act of Indian Parliament known as IRDA Act 1999, which was formed in 2002 to incorporate some emerging requirement.

Point of Sales persons mean individual who possess the minimum qualification has undergone training and passed the examination as specified guide and solicits and market only certain pre-underwritten products approved by the Authority on behalf of Insurance.

It is the basis of insurance contract. It also contains a declaration by the proposer that all the information furnished is true.

A warranty in an insurance policy is a promise by the insured party that statements affecting the validity of contract are true.

A claims is a notification to an insurance company requesting payment of an amount on the happening of a specified event, which is covered under the terms and condition of the policy.

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