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Chennai, a bustling metropolis known for its dense traffic and evolving IT hub. Due to the rising traffic, car insurance policy in this capital city of Tamil Nadu becomes very crucial. Whether driving on the busy streets of T. Nagar or commuting along the IT corridors of OMR, car owners in Chennai need a car insurance policy to stay protected against accidents, theft, and natural calamities like floods during monsoon. In fact, it is mandatory to have at least a third-party policy. Scroll through the section below to know more about car insurance in Chennai.
You can buy three different types of car insurance policies with ACKO:
According to the Motor Vehicle Act of 1988, a third party insurance is a must-have for all vehicle owners. Under this plan, you can enjoy financial protection if there is any damage to a third-party.
A third-party insurance might not be sufficient while driving a vehicle in Chennai as it does not cover you if your vehicle is stolen or damaged in an accident, fire, natural or man-made disaster, etc. To get protection for your vehicle against any such damage, you need to have Own Damage Insurance Cover.
The best recommended plan that you should consider buying in Chennai is a Comprehensive Insurance plan. This policy protects you if there is any third-party damage or damage to the vehicle. Thus, it is better to opt for Comprehensive Insurance for broader insurance coverage for your vehicle and to reduce your financial burden during times of crisis.
Listed below are some of the reasons why you should buy a car insurance policy in Chennai:
Mandatory by Law: Driving without car insurance in Chennai is illegal and can lead to fines and penalties. The Motor Vehicles Act of 1988 states that you need to have at least third-party insurance.
Financial Protection: A car insurance policy in Chennai serves as a crucial safety net by covering the costs of repairing or replacing your vehicle if it's damaged in an accident. Thus, offering financial protection in unforeseen circumstances, this insurance policy prevents your savings from draining out during such events.
Protection Against Floods: Chennai is heavily prone to flooding which makes it crucial to have protection for your vehicle. You should buy a Comprehensive policy in Chennai to get protection against flooding.
Peace of Mind on Chennai Roads: Knowing you are insured provides peace of mind while exploring the city's busy streets and unpredictable conditions.
Third-party Liability Coverage: It also provides liability protection, essential for safeguarding your finances in case you're held responsible for injuring someone else or damaging their property in a car accident.
Add-ons: Car insurance policies can also be tailored to fit individual needs and preferences, offering flexibility in coverage limits by opting for different add-ons. Some add-ons you can include in your car insurance policy are No Claim Bonus Protector, Zero Depreciation Cover, Consumables Cover, etc. These add-ons are, however, available at higher premiums
The common inclusions and exclusions of a car insurance policy in Chennai are:
Inclusions:
Coverage for vehicle damage due to accidents
Any damage to the vehicle due to fire outbreaks or natural disasters.
Third-party liability coverage
If the insured vehicle is lost or stolen
Personal accident injury
Exclusions:
Damage caused intentionally or due to involvement in illegal activities
Wear and tear, mechanical breakdown, or regular maintenance costs
Damage to personal belongings inside the vehicle
Using the vehicle for commercial purposes
Driving under the influence of alcohol or drugs
Overspeeding the vehicle
Driving a vehicle outside the geographical location mentioned in the policy document
Some of the add-ons that you can include while buying a car insurance policy in Chennai are as follows:
Roadside Assistance Cover: The Roadside Assistance Cover assists in case you get stranded in the middle of the road and need assistance.
No Claim Bonus Protector: The No Claim Bonus Protector or NCB protects your accumulated No Claim Bonus even after you have raised a claim in a given year. With NCB in your policy, you can get a discount of up to 50% on premium amounts.
Consumables Cover: A car insurance policy typically does not cover consumables like lubricants, nuts and bolts, gearbox oil, etc. However, with this cover, you can get protection even for consumables.
Engine Protection Cover: The Engine Protection Cover protects you financially in case the car’s engine gets damaged in an accident.
Zero Depreciation Cover: With zero dep insurance add-on, you can get the complete claim amount, irrespective of the depreciation costs.
Return to Invoice Cover: The Return to Invoice or RTI cover provides the complete claim amount based on the original invoice, irrespective of any depreciation. This cover is useful in Chennai to get complete compensation.
Here are the steps in which you can buy car insurance online in Chennai with ACKO:
Go to car insurance option on ACKO’s website or mobile phone
Enter the vehicle registration number and click on ‘Check Prices’
Provide the vehicle related details such as its registration number, make, and model along with personal details like your mobile number, pincode, email address, etc
A list of car insurance plans will be visible
Select a suitable car insurance policy along with the necessary add-ons
Make the premium payment, after which you will receive the policy details
Whether you buy your car insurance policy with ACKO or any other insurer, it is important to renew the plan as it comes with an expiry date. So, here are some of the reasons why you should renew your car insurance policy with ACKO:
The process to renew a car insurance policy with ACKO is quicker and seamless. You just need to enter a few details and get the policy renewed at your fingertips.
There is almost zero paperwork required when it comes to renewing ACKO car insurance. You can submit all the required documents online to complete the renewal process.
According to the Motor Vehicles Act, having at least a third-party car insurance policy is important. So, to avoid paying penalties, you need to renew the car insurance policy before its expiry.
Listed below are the steps you need to follow to file a car insurance claim with ACKO Chennai
Go to the car insurance option on the ACKO app or website
Login with your mobile number
Your car insurance policy will be visible, then click on ‘register claim’
Next, enter the necessary documents like FIR, claim form, etc, and successfully register the claim
Listed below are some of the documents required to file a car insurance claim in Chennai:
Driving license of the policyholder
Registration certificate of car
FIR (if required)
Identification proof of the policyholder
Original repair bills in case of reimbursement claim
Premium payment receipt
Here is how you can download your car insurance policy in Chennai:
Go to the car insurance option on the website
Login with your mobile number
Click on the ‘policy document’ and select ‘download’ option
Then, download the policy document and save it for future reference
Listed below are the factors to consider when buying a four-wheeler insurance policy online in Chennai:
Check Your Coverage Requirements: Before purchasing a four-wheeler insurance policy, it's essential to assess the coverage that aligns with your driving habits. For instance, you can buy a third-party policy only if your car is old.
Compare All the Plans Available: If you are planning to buy a car insurance policy in Chennai, you should compare all the plans available in the market. Doing so will help you pick a policy that best aligns with your needs and budget.
Select the Right IDV: IDV, or the Insured Declared Value, is the exact market value of your four-wheeler. Hence, declaring the right IDV when buying a car insurance policy is important. The higher the IDV, the higher the premium amount, so selecting the appropriate IDV is very important.
Choose Suitable Add-ons: There are a number of add-ons available that you can include in your four-wheeler insurance policy to enhance its coverage. For example, since Chennai is prone to flood, you can buy Engine Protection Cover to get adequate coverage against such scenarios. Some other add-ons you can consider adding to your policy are No Claim Bonus Protector, Zero Depreciation Cover, Roadside Assistance Cover, Key Loss Cover, etc.
Check the Claim Settlement Ratio: It is very important that you check the claim settlement ratio before settling on to buy any policy. The claim settlement ratio is the ratio between the number of claims raised to the number of claims settled. So, look for an insurer with a higher claim settlement ratio, as this will increase the chances of your claims settling.
24*7 Customer Support: Always choose an insurer that offers 24*7 support. This helps you get all your queries answered anytime and anywhere.
Availability of Network Garages: Network garages are tied up with insurance companies and provide the option of a cashless repair facility. Hence, you should choose insurers that have a tie-up with a higher number of network garages.
The different types of car insurance you can buy in Chennai include Comprehensive Car Insurance, Third-party Car Insurance, and Standalone Own-damage car insurance.
To buy the best car insurance policy in Chennai, you should compare all the policies available and buy it with insurers like ACKO.
Some factors you need to consider to buy the best car insurance policy in Chennai include claim settlement ratio, inclusions, exclusions, premium amount, type of policy, etc.
Yes, you must renew your car insurance policy in Chennai before expiry.