HDFC ERGO Car Insurance Policy
HDFC ERGO Car Insurance is offered by the two companies namely the HDFC Limited the Indian company holding 74 percent share and the ERGO International AG, a significant part of Munich Re Group with 26 percent share in the JV. This conglomeration offers many insurance policies for the benefit of people, and car insurance is one among them. Since the car is prone to many accidents, it is advisable to have insurance in place that can offer several advantages.
Benefits and Features of HDFC ERGO Car Insurance:
The car insurance offered by HDFC Ergo has significant features and supports customers round the clock.
- It can be bought online with one click and offers many bonuses as add-on features.
- This insurance is liable to third-party involvement in an accident that causes death or injury.
- Personal accident insurance coverage is up to 2 lakhs for the driver or the owner-driver on account of death or disability.
- Damage or loss to the car due to human-made disasters, and natural calamities both get covered under the plan, and one can expect and a decent amount of recovery from the insurance company.
- The coverage depends on the plan chosen and the amount paid. Maximum claim benefits would be given to the insured.
- The factors that decide the premium amount for a vehicle will include the fuel type, the age of the car, vehicle condition, registration location, and the amount insured. Additional premium can be paid for getting some add-on benefits which will be discussed later.
- Overall it offers many benefits, maximum claim benefits and shares the burden of the owner of the vehicle at the time of accidental damage or loss.
Additional Benefits Offered
- Personal Accident Cover: The policy is unique where one can avail coverage for the person whose name is mentioned in the insurance policy. The owner-driver, also the passengers who traveled in the vehicle can get some coverage per the policy
- Accessories Cover: In this insurance, there is an option to cover for both the non-electrical and electrical parts that get damaged due to accident or is lost due to theft.
- CNG Kit Cover: If the policyholders declare the CNG kit at the time of buying a policy, then the CNG kit cover will be taken care of the company.
- No Depreciation Coverage – In this coverage, the policyholder has access to the claim in full irrespective of the depreciation value. This means that they need not worry about the market value of the car and the car damage will be reimbursed by the insurance company.
- Down-Time Protection – In this add-on the customer can get reimbursed for their travel in the absence of the car which is in the garage for repair or the vehicle is lost.
Limitations of the policy
Only up to Rs. 500 is allowed on a daily basis as allowance.
Coverage is applicable for five days if repair or 15 days for theft.
You can avail this thrice for damage and once for the theft or total loss.
Gearbox and Engine In this add-on damages that happen on the engine or the gearbox can be recovered. Such accidents arise due to waterlogging and oil leakage.
No Claim Bonus Protection - The NCB does not get lost at the time of making a claim. Up to a maximum of three requests can be availed for every policy purchased.
Consumable Expense Cover – The consumable product purchase due to the damage can be covered in this add-on policy feature.
At the time of emergency, the following assistance is provided by the HDFC ERGO Company.
- Helps in repair and replacement of spare parts due to the restoration of the vehicle on the road.
- Provides a key replacement at the time of key getting lost.
- When the key is lost or locked with the key inside the vehicle towing services are provided, and the key is recovered.
- Provide a battery support to start the car on the road due to battery failure.
- Similarly, the tire can be replaced with another one when the tyre gets punctured on the road.
- Like battery and tyre, the most common problem is the fuel, and the policy will offer fuel for up to five liters, and the customer will bear the cost.
HDFC Ergo stands apart because of the support extended by them during the need of the hour. They have won more than 75 lakh customers who are happy to be associated with them due to their customer-friendly approach.
Private Car Insurance Plan:
- Individual car owners can obtain this plan. They can take the policy from online, and the documentation process is simple. In fact, there is no need to submit any physical document for taking a policy and only a few documents need to be submitted at the time of claiming insurance.
- This insurance covers third-party liability if death or permanent disability occurs due to disasters or accident of the car.
- It covers up to a maximum of two lakhs.
- Loss or damage due to theft, transit, fire, and all other natural calamities will be covered for the recovery by the insurance company.
- Additional premium payment will cover the owner or drivers hospitalization charges.
- When you do not claim any money during your insurance period, then you can avail discount on your renewal.
Commercial Vehicles Insurance Plan:
- Damage or loss due to human-made or natural disasters will be covered in the policy.
- Covers up to a maximum of 2 lakhs on death or disability of the driver.
- Many factors including the car condition, age, place of registration, car value, etc. will be considered for deciding the premium amount.
- The documentation process is simple, and settlement happens within a short time. Only relevant copies of the document are required to purchase or claim for the insurance. The materials include driving license, RC book, insurance copy, permit, FIR, etc.
- The company surveys in six hours and takes action.
In a nutshell, the car insurance offered by HDFC Ergo JV is state of the art technologically advanced and standardized process across all locations. You can follow the simple process and get your insurance done without any hassles. ICRA has recognized HDFC Ergo Car Insurance ‘iAAA’ rating for its maximum claim paying facility.