I am a resident of Mumbai. With the monsoon in full swing, I want to go in for a comprehensive auto insurance policy for my car. Currently, I have a third-party policy. Is it possible to upgrade my existing car insurance policy?

Ans: If the insured has not made any claim during the policy year, then s/he will be eligible for No Claim Bonus, which is a discount that is given to the insured while renewing the policy.

Please do read the policy terms and conditions for details.

Ans: It not illegal but it not advisable to have two different insurance coverages for a single car.

However, in your case you can raise a request to your insurance company to add the said add-on.

If insurer is unable to do so, you can purchase an alternate fresh policy with the zero-depreciation add-on (bumper to bumper) & get the first policy cancelled.

Ans: I understand your concerns about the Click 2 Protect 3D policy and your desire for either more coverage or the ability to switch providers. Here's what you can explore:

Increased Premiums and Coverage:

Review your Policy: Carefully examine your policy document to understand the breakdown of the premium between term insurance (HDFC Life) and health insurance (ERGO). This will help you assess if the health coverage benefits justify the increasing cost.
Contact HDFC Life and ERGO: Reach out to both HDFC Life (for term insurance) and ERGO (for health insurance) to inquire about possible options for increasing your sum assured (coverage amount) within the existing plan. This might lead to a higher premium, but it would also provide greater financial protection.
Portability Limitations:

Combined Policy Challenges: You're right; combined term and health insurance policies like Click 2 Protect 3D can be difficult to port due to their integrated nature. While individual term insurance plans are generally portable, porting health components often faces challenges.
Alternative Solutions:

Consider Separate Policies: Explore the possibility of purchasing separate term life insurance (potentially with a higher sum assured) and a new health insurance plan from another provider that better suits your needs and budget. This might involve surrendering the Click 2 Protect 3D policy, but it could offer more flexibility and potentially lower costs in the long run.
Negotiate with HDFC Life and ERGO: You could try negotiating with HDFC Life and ERGO to see if they can offer a more competitive premium or increased coverage within the existing plan.
Here are some additional tips:

Compare Online Quotes: Use online insurance comparison platforms to get quotes for separate term life and health insurance plans from different providers. This can help you compare coverage options and premiums.
Focus on Needs, Not Just Cost: While cost is important, prioritize getting adequate coverage for your term and health needs. Don't compromise on coverage just to get a lower premium.
Remember:

Carefully review the terms and conditions of any new policy before purchasing.
Consider factors like your age, health condition, and family needs when determining your required coverage amount.
By thoroughly evaluating your current plan, exploring alternatives, and comparing options, you can make an informed decision about whether to adjust your Click 2 Protect 3D policy or switch to separate plans for better coverage or affordability.

Ans: A comprehensive auto insurance policy in India offers the most extensive coverage for your car and any third-parties involved in an accident. It's like a two-wheeler for your car's security, providing protection for both your vehicle and your wallet.

Benefits of a Comprehensive Policy:

1. Peace of mind: Covers a wide range of situations, so you'll be financially protected in case of many unforeseen events.

2. Own Damage Cover: Pays for repairs or replacement of your car if it's damaged in an accident, by fire, theft, natural calamities, riots, or even falls victim to vandalism.

3. Third-Party Liability Cover: Takes care of any legal or financial liabilities you incur if your car causes injury, disability or death to a third party, or damages their property.

4. Personal Accident Cover (Optional): Provides financial assistance to you or your family in case of injury or death due to a car accident (depending on the policy terms).

What to Consider Before Buying:

Inclusions:

a. Most accidents (collision, hit and run)

b. Theft (partial or complete)

c. Fire damage

d. Natural disasters (floods, earthquakes, etc.)

e. Riots, strikes, and other man-made calamities

g. Third-party property damage and bodily injury

h. Personal accident cover (if opted for)

Non-inclusions:

a. Damages due to wear and tear

b. Driving under the influence of alcohol or drugs

c. Mechanical or electrical breakdown

d. Depreciation on parts replaced during repairs

e. Using the car for illegal purposes

Additional Tips:

1. Add-on Covers: Enhance your policy with optional extras like engine protection or zero depreciation cover for a more comprehensive safety net.

2. Compare Quotes: Get quotes from different insurance companies to find the best coverage and price for your needs.

Remember, a comprehensive policy offers superior protection compared to third-party only insurance, which is mandatory by law but only covers your liability towards third parties. For a secure ride on Indian roads, a comprehensive policy is the way to go.

Ans: In the unfortunate event of an accident with your Maruti Ertiga, a comprehensive car insurance policy will best serve your interests. Here's why:

Comprehensive Coverage:

• Third-party Liability: This is mandatory by law and covers any injuries or property damage caused to a third party due to an accident involving your car.
• Own Damage Cover: This protects your Maruti Ertiga from damages caused by accidents, theft, fire, natural calamities, etc.

Additional Coverage for Permanent Disability and Hospitalisation:

• Personal Accident (PA) Cover for Owner-Driver and Passengers: This add-on provides a lump sum payout in case of death or permanent disability due to an accident. You can extend this cover to include your passengers as well.
• Medical Expenses Cover: This add-on reimburses hospitalisation expenses incurred due to injuries sustained in an accident.

Here's what to consider when choosing an insurance provider:

• Claim Settlement Ratio (CSR): Look for insurers with a high CSR, which indicates a good record of settling claims promptly.
• Network Garages: Opt for an insurer with a wide network of cashless garages for repairs to ensure a hassle-free experience.
• Customer Service: Choose a company known for providing prompt and helpful customer service.

Popular Car Insurance Providers in India:

• Acko General Insurance
• HDFC Ergo
• The Oriental Insurance Company
• National Insurance Company
• Bajaj Allianz General Insurance

Researching and Comparing Policies

• Use online insurance aggregator websites to compare quotes from different providers. These websites allow you to input details about your Maruti Ertiga, your driving history, and desired coverage options. They will then provide you with quotes from various insurers, allowing you to compare prices and features.

Consulting a Financial Advisor

• Consider consulting a financial advisor who can help you assess your specific needs and recommend the most suitable car insurance policy for your Maruti Ertiga.