Car Insurance Policy
Timely car insurance renewal: Why it is crucial for every vehicle owner
Driving without valid insurance can invite heavy fines or even legal action
 "Timely car insurance renewal: Why it is crucial for every vehicle owner")
These 2 new car insurance add-ons could cut your out-of-pocket expenses
Magma HDI has introduced two new add-ons to its motor insurance policy that could help reduce these unexpected costs
 "These 2 new car insurance add-ons could cut your out-of-pocket expenses")
Drive less, pay less: Why 'Pay as You Drive' insurance may be right for you
Pay As You Drive (PAYD) is a "usage-based" car insurance
 "Drive less, pay less: Why 'Pay as You Drive' insurance may be right for you")
Don't get caught off guard: Mistakes that can get your car claims rejected
An expired or lapsed insurance policy renders your vehicle uninsured. If you meet with an accident during this period, your claim will be rightfully rejected.
Be warned: Restarting stalled vehicle in a flooded area magnifies damage
In flood-prone areas, engine protection, zero depreciation, and roadside assistance riders are must-haves
 "Be warned: Restarting stalled vehicle in a flooded area magnifies damage")
Acko's car, bike insurance will now be available on PhonePe
As of now, PhonePe offers a number of insurance products, including health insurance, car insurance, bike insurance, and travel insurance, among others
 "Acko's car, bike insurance will now be available on PhonePe")
Buying insurance for your electric car? Key factors to keep in mind
We explore the essential factors to consider when purchasing insurance for electric and hybrid cars
 "Buying insurance for your electric car? Key factors to keep in mind")
Toyota fined $60 m for lending abuses, soiling credit reports: US regulator
Toyota Motor Credit, the automaker's U.S.-based lending arm, will pay a $12 million civil fine and $48 million to car buyers harmed since 2016
 "Toyota fined $60 m for lending abuses, soiling credit reports: US regulator")
Does your regular car insurance cover flood and water damage?
Flood damage is typically covered under a comprehensive insurance plan that offers protection for damage caused by natural disasters such as floods, earthquakes, and cyclones, as well as accidents
 "Does your regular car insurance cover flood and water damage?")
Car insurance: Add-on options can save your vehicle from monsoon damage
It is important for policyholders to understand that standard car insurance policies might not provide adequate coverage for specific monsoon-related perils
Motor insurance picked up pace, grew neck and neck with health in H1FY23
Motor insurance, which saw muted growth in the last two years, has finally seen some momentum, although the base is low
 "Motor insurance picked up pace, grew neck and neck with health in H1FY23")
Want a lower motor insurance premium? Watch how (often) you drive
Floater policies will be cost-effective, provide convenience of renewal at one go for multiple vehicles
 "Want a lower motor insurance premium? Watch how (often) you drive")
Rise in 3rd party motor premium to partially offset losses for insurers
The recent increase in the premium rates on third-party motor insurance is unlikely to fully offset the motor insurance segment's underwriting losses, Crisil Ratings said in a report. The premium rates for third-party motor insurance have been increased from June 1. Premiums for two-wheeler insurance have risen the most -- by 12-21 per cent -- across engine capacities. For private cars, the maximum increase is 6 per cent. "The Ministry of Road Transport and Highways' move to increase the premium on third-party motor insurance after two years is a step in the right direction, but unlikely to fully offset the segment's underwriting losses," the rating agency said in the report. Third-party insurance cover is for other than own damage and is mandatory (as per the Motor Vehicles Act, 1988) to purchase along with own damage cover. Underwriting losses occur when claims are higher than the premium income of an insurance company. The last time premiums were hiked was in June 2019 and ...
 "Rise in 3rd party motor premium to partially offset losses for insurers")
Tata AIG launches usage-based insurance cover for private car owners
The usage-based private car cover, launched under the Irdai's regulatory sandbox, is more affordable offering customised solution towards one's driving profile apart
 "Tata AIG launches usage-based insurance cover for private car owners")
With 30 days more to pay premium, make sure you don't let your policy lapse
Usually, general insurers give 30 days for health and 90 days for auto insurance policyholders to pay renewal premiums, even after the due date has passed
 "With 30 days more to pay premium, make sure you don't let your policy lapse")
Reader's corner: Can motor insurance policy be transferred to a new car?
You need to inform to the insurance company about any changes or modification you have done to the insured vehicle, says expert
 "Reader's corner: Can motor insurance policy be transferred to a new car?")
Multiple cars, one policy: Irdai's latest announcement a boon for many
The CPA cover will also be available with the third-party liability policy and the comprehensive policy (third party plus own damage), as it is today
 "Multiple cars, one policy: Irdai's latest announcement a boon for many")
