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Maserati is an Italian manufacturer which produces high-end cars that begin at Rs 1.35 crore. The iconic trident emblem was designed by an artist called Mario. The company’s cheapest car is Maserati Ghibli and the most expensive of the lineup is the GranCabrio that is retailed for Rs. 2.69 crore. This article has all the details that you need to know about Maserati Car insurance.
Following are the benefits of buying/renewing car insurance for a Maserati.
Buying insurance is mandatory in India and if a car is used without insurance, the owner/driver can be penalised with heavy fines. In repeated cases there could also be imprisonment. Thus, buying car insurance ensures that the law of the land is followed.
Choosing a comprehensive cover of a Maserati provides coverage for damages caused to this high-end car. Otherwise, the repair or replacement of parts can prove to be a costly affair.
The Maserati can cause significant damage to other people or their property and compensating them can burn a large hole in the owner’s pocket. This can be taken care of by Third-party liability insurance. The cost of legal liabilities arising out of such an accident will be also borne by the insurance company.
An expensive car like Maserati needs to have full insurance coverage. This can be achieved with the help of add-ons like Engine protect, Zero Depreciation cover, or Roadside assistance add-on.
The above factors ensure that the owner/driver of the Maserati can be at peace as he/she does not have to worry about spending additional money against damages related to the car.
Car insurance plans for Maserati can be of the following types.
A third-party car insurance plan offers basic protection and compliance with the law. Any damage to the third-party life or property can be covered with this plan. Additionally, a personal accident cover for the policyholder or paid driver along with coverage for legal liabilities is included in a third-party car insurance policy.
A comprehensive car insurance plan offers more coverage and thus its premium is also higher than the third-party liability cover. It includes coverage for damage to the insured Maserati as well. Additionally, the plan can be customized with add-ons like Engine Protect, Zero Depreciation, Roadside assistance, etc. This plan can be availed with discounts like NCB that encourage a driver to drive safely.
Coverages define a car insurance policy. These are situations where a policyholder can raise a claim against the policy. The following coverages are a part of Maserati Car Insurance for a comprehensive type of policy:
1. Third-party Coverages: The cost of compensating a third party against injuries, property damage, or death is covered under a car insurance policy.
2. Third-party Legal Liabilities: The cost of legal liabilities arising out of an accident with the third party are covered.
3. Personal Accident Cover: A Personal accident cover can be used in case of permanent or total disability to the owner or paid driver. Or in case of death. The sum insured is Rs. 15 Lakh.
4. Theft Coverage: The policyholder will be compensated with the Insured Declared Value of the car in case of theft.
5. Damage due to Fire: Damage arising out of the fire, explosion, etc. is covered.
6. Accidental Damage: Unintentional damage arising out of an accident is covered under Maserati car insurance.
7. Damage due to calamities: Damage due to natural or man-made calamities is also covered.
Exclusions are situations in which raising a claim is not allowed under the terms and conditions of the insurance policy. The policyholder will have to bear the cost of damage from their pocket. Following is a list of exclusions for Maserati Car insurance policy:
Damage due to regular wear and tear to the parts.
Damage arising out of carelessness or negligence.
Damage to the Maserati due to the driver being in an intoxicated state.
Damage to the car when taking part in illegal activity like illegal racing.
Damage to the car when breaking the law, for example, the car is being used to rob a bank.
Electrical or mechanical damage to the insured car.
Damage caused when driving without valid documents, for example, registration certificate of the car.
Cost of depreciation of the vehicle when a Zero Depreciation Add-on is not a part of the plan.
Damage to the engine of the Maserati without an Engine Protect Add-on.
Car insurance add-ons increase the scope of a car insurance policy. These are nothing but individual coverages that can be bought with a comprehensive car insurance policy. Here is a list of add-ons that are most suitable for a Maserati.
Engine Protect: The policyholder must purchase a separate Engine Protect add-on that covers the cost of damage caused to the Maserati’s engine.
Invoice Cover: This add-on compensates the policyholder with the ex-showroom price of the Maserati in case it gets stolen or is damaged beyond repair.
Key Protect: A Maserati would come equipped with smart keys that offer many more functions. Since smart keys are expensive to repair or replace, one must buy the Key Protect add-on.
NCB Protect: Buy the NCB Protect Add-on to keep the NCB intact.
Zero Depreciation: The Zero Dep add-on can help the insurance company to pay the full claim without deducting depreciation.
Roadside Assistance: This add-on provides various value-added services like free towing, fuel refill, on the spot repairs, flat tire change, etc.
Acko is a digital-first insurance company that is trusted by millions in the country. Buying insurance for your Maserati from Acko will give you the following benefits.
Acko can quickly process a request thanks to its strong online presence. Right from buying a policy to claims and renewals, all processes are completed in a fast manner as compared to traditional insurance companies.
When a person gets in touch with Acko, he/she will be guided by a team of insurance experts and the best possible solution will be provided.
Acko directly connects with its customers. This allows the insurer to reduce the operational costs like agent commissions. The cost is passed on to the customer as a discount, thus providing the best costs for insurance policies.
No physical copies of documents are required to carry out a process. One does not have to spend time arranging documents for buying or renewing insurance.
Acko’s excellent claims team ensures that a customer has to go through the least possible hassle in case of a claim.
The claim process can have minor changes as per the terms and conditions of the insurance company, however, the following steps are common:
Step 1 Intimation: It is necessary to get in touch with the insurance company and intimate them about the incident as early as possible.
Step 2 Documents: The insurance company will share details about the exact claim process. The policyholder then needs to arrange all the required documents and other details, like pictures or video of the damaged car, to file a claim.
Step 3 Claim Process: The claim should be raised as per the process described by the insurance company.
Step 4 Inspection: The insurance company will allot a surveyor to inspect the extent of damage caused due to the claimable event.
Step 5 Claim settlement and repairs: After the claim is approved, the owner can send the car for repairs and the claim will be settled as per the terms and conditions of the insurance policy.
Below are the most common queries related to Maserati Car Insurance.
You can get a fair price on your Maserati car by comparing car insurance policies from different insurers. This can be easily done by entering a few basic details about yourself and the car on car insurance comparison websites. And you view quotes for free.
The cost of car insurance depends upon various factors related to the car and its owner. For example, the Insured Declared Value i.e. the approximate market value of the car plays a vital role in deciding the premium. Similarly, type of car insurance policy, number of add-ons, claim history, etc. are also important. All these determine the cost of a Maserati’s insurance policy.
If you choose to buy insurance from a digital-first insurance company like Acko, then you can get your Maserati insured within a few minutes depending upon the renewal history. If there are no gaps in renewing the policy, then you may get a new policy instantly.
Add-ons suitable for insuring a Maserati are explained in Add-on section. Please take a look.
Multiple factors play a role in determining the cost of a motor insurance policy. These factors include the current market value of the car, renewal history, number of claims, driving patterns of the driver, modifications on the car, number of add-ons, etc. Adjusting these factors to an extent can increase or decrease the cost of insurance.
The Claim Settlement Ratio (CSR) can increase or decrease depending on a lot of factors. The insurance regulator (IRDAI) publishes reports related to CSR annually and one can take a look at such reports to know the best insurer CSR-wise. However, choosing an insurance company only based on its CSR could be a very bad idea.
Maintaining any automobile is expensive if the owner goes overboard with the related factors. Since a Maserati is an expensive car itself, one can say that the maintenance costs are also high.