Motor vehicle insurance is one of the most commoditized forms of insurance and is easy to acquire. With car dealerships, repair shops, accessory companies, and online websites all offering motor covers, purchasing vehicle protection plans has become convenient.
The key is to select the right insurer with a wide cashless repair network, easy servicing, and a transparent product. Extensive information is available online to help you make a purchase, or you could reach out to your trusted broker to find the most suitable car insurance for your needs.
From basic third-party insurance to comprehensive car insurance with add-ons like roadside assistance insurance, there are multiple options to ensure your vehicle stays protected against various risks.
The law mandates that every motor vehicle must be insured for third-party claims. This means coverage that will pay for bodily injury and property damage you cause to others.
Key points about mandatory insurance:
The comprehensive car insurance, which covers repair costs for your own vehicle, is optional and not required by law, but highly recommended for complete protection.
Standard motor vehicle insurance policies are guided by conventional rules of the Motor Vehicle Act. They pay for a depreciated cost of part replacements for damages, with the car owner covering the rest.
When you opt for a zero depreciation cover:
This add-on is particularly valuable for new vehicles and luxury cars where depreciation costs can be significant.
Despite being commoditized, car insurance premiums should always be compared while keeping the insured value of the car and type of cover similar between insurers, as both affect pricing.
When comparing vehicle protection plans, look beyond price at:
Even within comprehensive car insurance plans with zero depreciation, there are multiple variants at different premiums to choose from. Some policies may also include additional benefits like roadside assistance insurance, which can be valuable for many drivers.
There are several types of motor vehicle insurance available:
Third-Party Insurance:
Comprehensive Car Insurance:
Edify helps you navigate these options to find the perfect combination for your needs and budget.
The claim process for motor vehicle insurance typically involves:
With Edify's assistance, this process becomes smooth and hassle-free, ensuring you receive the maximum benefit from your comprehensive car insurance coverage.
NCB offers up to 50% discount on premiums for claim-free years.
Yes, your NCB can be transferred when switching insurers.
Yes, comprehensive policies cover damage from natural disasters including floods.
We liaise directly with surveyors and workshops to fast-track approvals and repairs.
Valid registration certificate, previous policy, and identity proof are typically sufficient.
