The need for having the right car insurance is now more pronounced than ever, as it keeps you financially well-covered if any accident were to occur while driving on the road, and lends you peace of mind at the same time. That forms the basis of the Private Car Insurance policy by Liberty General Insurance (LGI). This car insurance policy provides protection to the car owner against I) damages to the insured vehicle, and II) any third party liability as determined by the law.
Well, there are a number of key benefits of buying a Liberty Private Car Insurance Policy, and here are some of the prominent Car insurance details:
Inspection & cashless claim service at more than 1900 network garages
Settlement within 7 working days
Existing No Claim Bonus from any insurance provider
Of additional protection & convenience through different add on covers
For effective claims support & assistance from 8:00 AM to 8:00 PM daily.
Driving a car without third party insurance is a punishable offence according to the terms of the Motor Vehicles Act, 1988. Having at least third party insurance is a statutory requirement as the owner of the insured vehicle is legally liable to pay for any injury or damage suffered by third party/parties or third party property, arising out of an accident due to the use of the insured vehicle in a public place.
The two options you have when you buy online insurance for car include: -
Based on the option you choose, LGI’s online car insurance in India comes with specific coverage.
Own Damage to the vehicle insured caused by-
Your policy also includes
Reimbursement of towing charges up to maximum of Rs. 1,500/- or actual, whichever is lower.
Liability towards third party arising out of-
a) Depreciation Cover
It covers Depreciation amount deducted on the value of parts replaced as a result of admissible claim under Own Damage Section of policy.
Conditions
Insured vehicle should be repaired at any of Company’s authorized Garage.
Exclusions
It does not cover the claims in which vehicle is not repaired at any of the Company’s authorized Garage.
b) Consumables Cover
It covers expenses incurred towards “those items or substances of specific use which at the time of loss are either totally consumed or rendered unfit for further consumption” arising out of damage to the vehicle insured and/or to its accessories.
Consumables shall mean those items or substances which have specific use and when applied to their respective uses are deemed to be consumed completely and/or are deemed to be unfit for future use. These items include grease, lubricants clip, air conditioner’s gas, bearings, engine oil, oil filter, break oil, nut and bolt, screw, washers and the like.
Special conditions applicable:
Exclusions
c) Gap Value Cover
Company agrees to pay the “difference amount” between the amount received under Own Damage Section i.e. Insured Declared less deductibles under the policy AND price as per purchase invoice OR the current replacement value of vehicle if the same make model is available, whichever is less in the event of a Total Theft or Total Loss/Constructive Total Loss of the vehicle.
It also covers the Road Tax and first time registration charges if specifically declared and additional premium is paid.
Maximum liability to the company is limited to the sum insured mentioned in the policy schedule.
Special Conditions applicable to this benefit
Exclusions
d) Roadside Assistance Cover
In case of breakdown of the insured vehicle, LGI will provide roadside assistance through the authorized vendor unlike cheap car insurance in India which doesn’t cover the same.
Special conditions
All additional expenses regarding replacement of a part, additional Fuel and any other service which does not form a part of the standard services mentioned above would be on chargeable basis to the insured.
Exclusions
e) Passenger Assistance Cover
It is a comprehensive cover to secure the passengers travelling in the insured vehicle. The cover includes-
Special Conditions applicable to Medical Expenses Coverage
The Company stands to cover medical expenses for treatment taken from only registered medical practitioners under respective medical councils.
f) Key Loss Cover
In consideration of extra premium paid by the insured as mentioned in the policy schedule it is hereby understood and agreed subject to the terms, conditions, exclusions and limitations that the Company will reimburse insured towards-
Special Condition
Insured s required to provide police report confirming the incident details occurring during the mentioned Policy Period.
g) Engine Safe Cover
Company undertakes to provide cover to the engine of the insured vehicle including its block and child parts along with the gear box, transmission or differential assembly provided the loss or damage is due to-
Special Conditions
Special Exclusions
Own Damage to the vehicle insured caused by-
Your policy also includes
Reimbursement of towing charges up to maximum of Rs. 1,500/- or actual, whichever is lower.
Liability towards third party arising out of-
a) Depreciation Cover
It covers Depreciation amount deducted on the value of parts replaced as a result of admissible claim under Own Damage Section of policy.
Conditions
Insured vehicle should be repaired at any of Company’s authorized Garage.
Exclusions
It does not cover the claims in which vehicle is not repaired at any of the Company’s authorized Garage.
b) Consumables Cover
It covers expenses incurred towards “those items or substances of specific use which at the time of loss are either totally consumed or rendered unfit for further consumption” arising out of damage to the vehicle insured and/or to its accessories.
Consumables shall mean those items or substances which have specific use and when applied to their respective uses are deemed to be consumed completely and/or are deemed to be unfit for future use. These items include grease, lubricants clip, air conditioner’s gas, bearings, engine oil, oil filter, break oil, nut and bolt, screw, washers and the like.
Special conditions applicable:
Exclusions
c) Gap Value Cover
Company agrees to pay the “difference amount” between the amount received under Own Damage Section i.e. Insured Declared less deductibles under the policy AND price as per purchase invoice OR the current replacement value of vehicle if the same make model is available, whichever is less in the event of a Total Theft or Total Loss/Constructive Total Loss of the vehicle.
It also covers the Road Tax and first time registration charges if specifically declared and additional premium is paid.
Maximum liability to the company is limited to the sum insured mentioned in the policy schedule.
Special Conditions applicable to this benefit
Exclusions
d) Roadside Assistance Cover
In case of breakdown of the insured vehicle, LGI will provide roadside assistance through the authorized vendor unlike cheap car insurance in India which doesn’t cover the same.
Special conditions
All additional expenses regarding replacement of a part, additional Fuel and any other service which does not form a part of the standard services mentioned above would be on chargeable basis to the insured.
Exclusions
e) Passenger Assistance Cover
It is a comprehensive cover to secure the passengers travelling in the insured vehicle. The cover includes-
Special Conditions applicable to Medical Expenses Coverage
The Company stands to cover medical expenses for treatment taken from only registered medical practitioners under respective medical councils.
f) Key Loss Cover
In consideration of extra premium paid by the insured as mentioned in the policy schedule it is hereby understood and agreed subject to the terms, conditions, exclusions and limitations that the Company will reimburse insured towards-
Special Condition
Insured s required to provide police report confirming the incident details occurring during the mentioned Policy Period.
g) Engine Safe Cover
Company undertakes to provide cover to the engine of the insured vehicle including its block and child parts along with the gear box, transmission or differential assembly provided the loss or damage is due to-
Special Conditions
Special Exclusions
Answer. Yes, motor insurance is mandatory in India. Having at least third party motor insurance in India is a statutory requirement as per the Motor Vehicles Act, 1988.
Answer. It is an insurance policy that covers four wheelers against damage or loss resulting from accident or theft. One can buy online car insurance policy or by visiting the insurer.
Answer. Car insurance is of two types
Third-party insurance is the most basic vehicle insurance that is compulsory for every motor vehicle on road. It only covers the loss or damage suffered by third party in case of an accident arising out of the use of the insured vehicle. Liability only policy does not cover any loss or damage to the insured vehicle or to the insured.
It is an all-inclusive policy which provides complete coverage i.e. loss or damage to insured as well as to the third-party, in case of theft or an accident.
Answer. Commercial car insurance policy is required if you use your vehicle for commercial purposes or own vehicles operated by a business.
Answer. Yes. Car insurance policies are usually offered for one year, so you will have to buy car insurance, every year. Purchase online motor insurance to avail various benefits such as better premiums, less paperwork, etc.
Answer. Third party car insurance is mandatory as per the law. But, you should buy car insurance as per your requirements. As liability only policy only covers third party liability, any damage to your vehicle will not be covered. Hence, it is advisable to buy comprehensive cover as it protects you and your car against accidental damages and losses, in addition to third party liability. Plus, it would be best to buy online car insurance as it offers numerous advantages.
Answer. The below mentioned factors can affect the premium for car insurance policy: -
Answer. Insured Declared Value (Sum Insured under Motor Insurance Policy) reflects the value of the motor vehicle determined based on the Manufacturer's Listed selling Price of the vehicle and depreciation based on the Age of the vehicle. It will be fixed at the commencement of each policy period for each insured vehicle. The IDV is applicable for the purpose of Total Loss/ Constructive Total Loss (TL/ CTL) claims only. For the purpose of TL/CTL claim settlement, this IDV will not change during the currency of the policy period in question. It is clearly understood that the liability of the insurer shall in no case exceed the IDV as specified in the policy schedule less the value of the wreck & Excess.
IDV Depreciates with Vehicle Age which means car insurance prices for a new car will be higher than an old car
Answer. No-claim bonus (NCB) is a discount in OD premium offered by vehicle insurance companies on car insurance if an Insured has not made a single claim during the term of the motor insurance policy. No Claim Bonus (NCB) is offered to an Insured as per the NCB Slab (GR 27). An insured becomes entitled to NCB only at the renewal of a policy (which was bought as a new car insurance policy) after the expiry of the full duration of 12 months.
No Claim Bonus can be transferred on new car insurance subject to Insured having NCB Reserving Letter.
Answer. The next slab of NCB will be allowed in the new motor insurance policy of New Insurer (listed car insurance companies in India) subject to no ownership transfer, no claim in Previous Policy and previous policy runs for the full period of 12 Months (365 days). The policy buyer can compare various car insurance quotes and the benefits to purchase the best car insurance policy in India with the advantage of NCB.
Answer. Using car insurance calculator you can calculate your estimated vehicle insurance premium online. Just enter your requirements for vehicle insurance online in the calculator to get instant insurance quotes. Getting insurance quotes and comparing them will help you get your hands on the best car insurance in India.
Answer. It is beneficial to buy car insurance online in India as there are various policies to choose from and you can make a better and a more informed decision. When you buy car insurance policy online, do complete research and then make the decision. Buying car insurance policy online also helps you save on time and money. When you buy car insurance online in India, you get better benefits than purchasing offline.
Answer. Yes, you can buy LGI car insurance online. Whether you want to buy new car insurance online or renew it, both options are available on LGI website.
Answer. LGI offers two types of motor insurance policy- Package Policy and Third Party Liability Policy. Buy our online vehicle insurance to enjoy a range of benefits.
Answer. LGI Private Car Package Policy is one of the best car insurance policies in India, and it offers maximum coverage through 7 add-on covers:
Answer. Electrical and non-electrical accessories will be covered under LGI Private Car Package Policy as follows-
Electrical accessories which are not a part of factory-fitted equipment of the vehicle will be covered under the insurance policy on payment of additional premium.
Any non-electrical equipment which is not factory-fitted with the vehicle will be covered under non-electrical accessories at an additional premium.
Answer. Upon installation of an Automobile Research Association of India (ARAI) approved anti-theft device in your vehicle, which is dully certified by the Automobile Association of India, you can get a discount of 2.5% on the OD (Own Damage) premium subject to maximum of Rs. 500.
Answer. LGI Private Car Package Policy coverage for third-party includes:
Answer. With LGI car insurance, you can avail cashless claim service at 1900+ network garages.
Answer. You can register your claim in the following ways-
Answer. There are multiple payment options e.g. credit card, net banking, debit card, etc., for online payment when you buy car insurance online.
Answer. Yes. LGI Private Car Package Policy offers personal accident cover to owner/driver. However, you can also purchase add-on personal accident cover for passengers by paying extra premium.
Answer. You can buy motor insurance online through LGI website or through one of our branches. You can locate a branch near you using the ‘Branch Locator’ tool on our website. However, buying motor vehicle insurance online is a better option as you get an instant policy minus any paperwork and you get better benefits as well.
Car Insurance Glossary (A)
Car Insurance Glossary (B)
Car Insurance Glossary (C)
Car Insurance Glossary (D)
Car Insurance Glossary (E)
Car Insurance Glossary (I)
Car Insurance Glossary (L)
Car Insurance Glossary (N)
Car Insurance Glossary (O)
Car Insurance Glossary (O)
Car Insurance Glossary (R)
Car Insurance Glossary (S)
Car Insurance Glossary (T)
Answer. Yes, motor insurance is mandatory in India. Having at least third party motor insurance in India is a statutory requirement as per the Motor Vehicles Act, 1988.
Answer. It is an insurance policy that covers four wheelers against damage or loss resulting from accident or theft. One can buy online car insurance policy or by visiting the insurer.
Answer. Car insurance is of two types
Third-party insurance is the most basic vehicle insurance that is compulsory for every motor vehicle on road. It only covers the loss or damage suffered by third party in case of an accident arising out of the use of the insured vehicle. Liability only policy does not cover any loss or damage to the insured vehicle or to the insured.
It is an all-inclusive policy which provides complete coverage i.e. loss or damage to insured as well as to the third-party, in case of theft or an accident.
Answer. Commercial car insurance policy is required if you use your vehicle for commercial purposes or own vehicles operated by a business.
Answer. Yes. Car insurance policies are usually offered for one year, so you will have to buy car insurance, every year. Purchase online motor insurance to avail various benefits such as better premiums, less paperwork, etc.
Answer. Third party car insurance is mandatory as per the law. But, you should buy car insurance as per your requirements. As liability only policy only covers third party liability, any damage to your vehicle will not be covered. Hence, it is advisable to buy comprehensive cover as it protects you and your car against accidental damages and losses, in addition to third party liability. Plus, it would be best to buy online car insurance as it offers numerous advantages.
Answer. The below mentioned factors can affect the premium for car insurance policy: -
Answer. Insured Declared Value (Sum Insured under Motor Insurance Policy) reflects the value of the motor vehicle determined based on the Manufacturer's Listed selling Price of the vehicle and depreciation based on the Age of the vehicle. It will be fixed at the commencement of each policy period for each insured vehicle. The IDV is applicable for the purpose of Total Loss/ Constructive Total Loss (TL/ CTL) claims only. For the purpose of TL/CTL claim settlement, this IDV will not change during the currency of the policy period in question. It is clearly understood that the liability of the insurer shall in no case exceed the IDV as specified in the policy schedule less the value of the wreck & Excess.
IDV Depreciates with Vehicle Age which means car insurance prices for a new car will be higher than an old car
Answer. No-claim bonus (NCB) is a discount in OD premium offered by vehicle insurance companies on car insurance if an Insured has not made a single claim during the term of the motor insurance policy. No Claim Bonus (NCB) is offered to an Insured as per the NCB Slab (GR 27). An insured becomes entitled to NCB only at the renewal of a policy (which was bought as a new car insurance policy) after the expiry of the full duration of 12 months.
No Claim Bonus can be transferred on new car insurance subject to Insured having NCB Reserving Letter.
Answer. The next slab of NCB will be allowed in the new motor insurance policy of New Insurer (listed car insurance companies in India) subject to no ownership transfer, no claim in Previous Policy and previous policy runs for the full period of 12 Months (365 days). The policy buyer can compare various car insurance quotes and the benefits to purchase the best car insurance policy in India with the advantage of NCB.
Answer. Using car insurance calculator you can calculate your estimated vehicle insurance premium online. Just enter your requirements for vehicle insurance online in the calculator to get instant insurance quotes. Getting insurance quotes and comparing them will help you get your hands on the best car insurance in India.
Answer. It is beneficial to buy car insurance online in India as there are various policies to choose from and you can make a better and a more informed decision. When you buy car insurance policy online, do complete research and then make the decision. Buying car insurance policy online also helps you save on time and money. When you buy car insurance online in India, you get better benefits than purchasing offline.
Answer. Yes, you can buy LGI car insurance online. Whether you want to buy new car insurance online or renew it, both options are available on LGI website.
Answer. LGI offers two types of motor insurance policy- Package Policy and Third Party Liability Policy. Buy our online vehicle insurance to enjoy a range of benefits.
Answer. LGI Private Car Package Policy is one of the best car insurance policies in India, and it offers maximum coverage through 7 add-on covers:
Answer. Electrical and non-electrical accessories will be covered under LGI Private Car Package Policy as follows-
Electrical accessories which are not a part of factory-fitted equipment of the vehicle will be covered under the insurance policy on payment of additional premium.
Any non-electrical equipment which is not factory-fitted with the vehicle will be covered under non-electrical accessories at an additional premium.
Answer. Upon installation of an Automobile Research Association of India (ARAI) approved anti-theft device in your vehicle, which is dully certified by the Automobile Association of India, you can get a discount of 2.5% on the OD (Own Damage) premium subject to maximum of Rs. 500.
Answer. LGI Private Car Package Policy coverage for third-party includes:
Answer. With LGI car insurance, you can avail cashless claim service at 1900+ network garages.
Answer. You can register your claim in the following ways-
Answer. There are multiple payment options e.g. credit card, net banking, debit card, etc., for online payment when you buy car insurance online.
Answer. Yes. LGI Private Car Package Policy offers personal accident cover to owner/driver. However, you can also purchase add-on personal accident cover for passengers by paying extra premium.
Answer. You can buy motor insurance online through LGI website or through one of our branches. You can locate a branch near you using the ‘Branch Locator’ tool on our website. However, buying motor vehicle insurance online is a better option as you get an instant policy minus any paperwork and you get better benefits as well.
Car Insurance Glossary (A)
Car Insurance Glossary (B)
Car Insurance Glossary (C)
Car Insurance Glossary (D)
Car Insurance Glossary (E)
Car Insurance Glossary (I)
Car Insurance Glossary (L)
Car Insurance Glossary (N)
Car Insurance Glossary (O)
Car Insurance Glossary (O)
Car Insurance Glossary (R)
Car Insurance Glossary (S)
Car Insurance Glossary (T)