Mahindra XUV500 Car Insurance
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The Mahindra XUV500 is a stunning vehicle. If you are a proud owner of this car or want to buy it in the near future, make sure to insure it with a Comprehensive Car Insurance Policy. Buying a good policy is not enough. It needs to be purchased from a responsive insurer as well. Car insurance needs periodic renewal. And choosing a customer-friendly insurer will help you sort your Mahindra XUV500’s insurance requirements in the long run. Read more about how to go about doing so in the following sections.
Importance of Buying Car Insurance for Mahindra XUV500
Here are some pointers highlighting the importance of choosing a Comprehensive Cover for your Mahindra XUV500.
1. Own Damage Cover
The Own Damage Cover is the main component of a Comprehensive Plan. With this cover, you can rest assured that the insurer will insure your car against damages arising out of fire, accidents, calamities. There’s a theft cover as well.
2. Add-ons
The XUV500 is a car that is perfect for road trips and off-roading. These endeavours can be slightly risky in terms of insurance. Thus, cushioning the policy with relevant car insurance add-ons such as Zero Depreciation, Roadside Assistance, etc. can be productive.
3. Convenience
Accidents and vehicle breakdowns can occur at a time when you are least expecting them. With an insurer by your side, you will have a ‘go-to’ source in case you are involved in a car mishap. You simply need to contact the insurer and follow the process laid out by them to ensure your car is repaired. Without such assistance, you might feel lost and inconvenienced.
Car Insurance Plans for Mahindra XUV500
Primarily, there are two types of car insurance plans available for the Mahindra XUV500 in India. The rest can be a version of the following two plans.
1. Basic Plan
If you are of the opinion that car insurance is not helpful, and it should be purchased just because the law mandates it, then the Third-party Car Insurance Policy can be considered. It offers the liability coverage but does not insure your car if it gets damaged as it does not feature the Own Damage Cover. Here, the XUV500 insurance cost is minimal, the plan cannot be personalised with add-ons, and is not the preferred choice for enhanced coverage.
2. Advanced Plan
A Comprehensive Cover and its other variants such as the Zero Depreciation Car Insurance Policy are better alternatives to the basic plan. They not only offer the cover offered by the basic plan, but they also ensure Own Damage Coverage and the option to pick suitable add-ons to customise your insurance plan.
Add-ons for Mahindra XUV500 Car Insurance
Add-ons are a way to customise your insurance plan. They can cover the exclusions of a plan and be of great help in the form of a service or to receive a higher claim settlement. The key is to buy only those additional covers that add value to you personally as a policyholder. For example, Roadside Assistance is a beneficial add-on for emergency assistance if the car breaks down.
Here’s a list of some of the commonly purchased add-on covers.
Zero Depreciation
Engine Protect
What’s Covered in Mahindra XUV500 Insurance (Inclusions)
The inclusions section of a Comprehensive Car Insurance Policy needs to be given special attention while buying or renewing the plan. It features those situations that shall be covered under the said policy. Here are some generic inclusions.
The insurer shall cover losses arising due to Third-party Liabilities
The insurer shall cover losses arising due to incidents such as fire, flooding, rioting, etc.
The insurer shall compensate the policyholder with the Insured Declared Value of the vehicle if it is stolen or damaged beyond repair.
If add-on covers are purchased, applicable coverage shall apply.
What’s Not Covered in Mahindra XUV500 Insurance (Exclusions)
Going through the list of exclusions is equally, if not more, important than knowing the list of inclusions. It is the exact opposite of the above-mentioned sections. It features instances where the insurer will not cover the losses. It is crucial to go through this list before purchasing the policy to know the scope of the cover and before applying for a claim to know if the insurer will cover the loss or not. Here’s an overview of the exclusions.
The insurer shall cover losses if you hold an invalid policy
The insurer shall cover losses arising due to drunk driving
The insurer shall cover losses arising if the driver did not follow traffic rules
The insurer shall cover losses arising due to regular wear and tear/mechanical breakdowns, etc.
The insurer shall cover losses if relevant add-ons are not purchased.
Benefits of Buying ACKO’s Car Insurance Policy for your Mahindra XUV500 Car
Your car deserves nothing but the best when it comes to related services such as a service centre or an insurer. People often visit a manufacturer-authorized service centre to ensure reliability or rely on online reviews and views of friends and family to select one. The same approach can be followed to select an insurer as well. Choose an insurer certified by the Insurance Regulatory and Development Authority of India (IRDAI). Research online and speak to friends about reviews. Here, ACKO has a good record of being customer-friendly. And here’s why.
1. Modern Insurer
Technology has transformed several industries, why should insurance be left behind? Just as you transact online using your smartphone to book tickets, order food, or make payments, you can also do so to insure, claim, and renew your car insurance policy from ACKO.
2. Incredibly Low Premiums
ACKO is a digital-first insurer. Thus, the operating expenses are on the lower side. With a No-Commission model, agent intervention is skipped, and you can buy directly from www.acko.com or from the ACKO app. All this ensures policies are packaged well and offer an overall cost-benefit to policyholders.
3. Ultimate Convenience
Ranging from buying the plan, availing the services, or renewing the policy, ACKO offers the ultimate convenience. You can purchase and renew a Comprehensive Car Insurance Policy for your Mahindra XUV500 within minutes. With services such as Instant Claim Settlement, ACKO ensures a hassle-free experience.
Claim Procedure
Familiarising yourself with the insurer’s claim process is beneficial before buying the policy and also before raising a claim. The claim process begins by informing the insurer about the damage, sharing details, and then coordinating with the Claims Team to settle the claim.
Here’s an overview of the Claim Procedure at ACKO.
Step 1: Log in to your ACKO account
Step 2: Click ‘Claim Now’ on the policy card
Step 3: Answer a few claim-related questions
Step 4: A Claims Executive will get in touch with you for further processing and claim settlement.
Frequently Asked Questions
Please read ahead to know the answers to some common queries related to Mahindra XUV500 car insurance.
FAQs
1. Is it possible to renew Mahindra XUV500’s Comprehensive Car Insurance Plan from my mobile’s browser?
Yes, you can renew the policy from your mobile browser.
2. Which is the best add-on for Mahindra XUV500?
The utility of add-ons is subjective. For example, if you are someone who wants total convenience if a car breaks down while on the road, a Roadside Assistance is a must. If you are someone who can arrange for car towing then you might not need such an add-on.
3. Do I need to submit documents and fill forms while buying car insurance online?
Buying car insurance online is a simple and straightforward process. For example, while buying a plan from ACKO, you do not have to submit identity proof documents or fill lengthy forms. Yes, you are required to share basic information such as your car’s registration number, your contact information while buying the policy. Usually, the process takes not more than five minutes.
4. Do I need to submit any documents while registering a claim?
Submitting documentation might be required while registering a claim. The exact list of documents will depend upon the type of claim you want to raise. For example, you will be required to submit a First Information Report and a No Trace Report for a car-theft claim. For a claim for damage due to tree fall, such documents are not required.
5. Do I have to renew the insurance policy from the same insurer from whom I purchased it?
No, you have the option to switch your insurer and the insurance plan while renewing the policy. It is best to research online before renewing your policy for digital-first insurers. For example, ACKO is a digital-first insurer that offers incredibly low premiums on car insurance policies along with smooth claim settlement and top-notch insurance-related services.
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