Types of car insurance we offer

Third Party Liability Policy

This policy offers insurance cover that is legally required to drive a vehicle on the roads. The policy covers the car owner’s financial liability in case any person is physically harmed or any third party property is damaged due to the car. The policy will pay for the financial loss caused to the third party.

Comprehensive Package Policy

Comprehensive policy firstly offers third party liability cover as required by law. In addition, it includes own damage (OD) cover. Under this cover, claims made to repair damages suffered by the car due to accidents, vandalism, theft, fire, man-made and natural disasters are paid.

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All you need to know about car insurance in India

Basics of car insurance in India

Car Insurance not only provides financial protection to the car but also provides cover for injuries to driver, passengers or pedestrians, and their property. It pays for damages to your car due to accidents, vandalism, theft, fire, man-made/ natural disasters, and third-party liability. Considering the exorbitant repair costs these days even a minor damage can cost a fortune. The Motor Vehicles Act also requires every vehicle on the road to at least have a valid third-party liability cover, i.e. cover that pays for bodily injury, loss of life and damage to property of a third person that was caused by an accident with your car.


The IRDAI revises premium every year, considering the ratio of claims made and loss for providers. Because of this, third party insurance rates for cars and bikes have become costly from April 1st, with the insurance rate rising up to 40%.

  • Death of any third party due to the car
  • Any type of bodily injury suffered by any third party due to the car
  • Damage to third party properties
  • Damages suffered by the car due to natural calamities like hurricanes, earthquakes, storms, tempest, flood, etc.
  • Damages suffered by the car due to man-made disasters like fire, theft, burglary, etc.
  • Damages incurred due to ignition or self-explosion
  • Damages suffered when the car is being transported via rail, road, water or air
  • A personal accident cover for the owner/driver of the car against accidental deaths and accidental permanent disabilities

  • Normal wear and tear and general ageing of the insured vehicle
  • Vehicle used otherwise than limitations as to use
  • Mechanical or electrical breakdown
  • Damage to vehicle by war, mutiny or nuclear attacks.
  • Damage by a person driving the vehicle under the influence of drugs or liquor or with in invalid license
  • Loss of the vehicle or damage that can be sufficiently proven to be deliberate or consequential
  • Damages sustained due to deliberate actions or criminal acts
  • Claims faced when driving outside the geographical territory of India
  • Vehicles being used as a commercial one when registered for personal use

A basic comprehensive car insurance includes damage to your car, loss and theft of vehicle as well as third party cover. However, at additional cost in the insurance premium, the car owners can avail some extraordinary coverage options. The popular add-ons are:

  • Zero depreciation cover

    The add-on covers the depreciation on the parts of the car. If you have this add-on the full amount of the parts of the car replaced is paid without deducting for depreciation. Without the add-on following depreciation will be applied to pay claim:

    For all the Nylon, Plastic and Rubber parts like tubes and tyres as well as batteries 50%
    For all the components made of fiberglass 30%
    Parts made of glass like windshield, etc. NIL

    The rest of the vehicle, including all the wooden parts as well are:

    Age of Vehicle % of Depreciation
    Vehicle less than 6 months NIL
    Vehicle more than 6 months but less than 1 year 5%
    Vehicle more than 1 year but less than 2 years 10%
    Vehicle more than 2 year but less than 3 years 15%
    Vehicle more than 3 year but less than 4 years 25%
    Vehicle more than 4 year but less than 5 years 35%
    Vehicle more than 5 year but less than 10 years 40%
    Vehicle more than 10 years 50%

    IDV Depreciation:

    Age of The Vehicle % Of Depreciation For Fixing IDV of The Vehicle
    Vehicle less than 6 months 5%
    Vehicle more than 6 months but less than 1 year 15%
    Vehicle more than 1 year but less than 2 years 20%
    Vehicle more than 2 year but less than 3 years 30%
    Vehicle more than 3 year but less than 4 years 40%
    Vehicle more than 4 year but less than 5 years 50%
  • Roadside assistance cover

    Under this additional cover, the policyholder is assured of a round-the-clock assistance provided by the insurance company if the car breaks down in the middle of the road and needs assistance in being transported to the nearest garage.

  • Engine protect cover

    The engine protect cover covers the damages suffered by the engine of the car due to waterlogging. If the car is submerged in water and the policyholder tries to start the car, water might seep into the engine and damage it. Such damages are covered under the add-on.

  • NCB protect cover

    If there is no claim in the car insurance policy, the policyholder earns a no claim bonus (NCB). This bonus provides a discount in the renewal premium. However, a single instance of claim wipes out the entire NCB and no discount is allowed in the renewal premium. This add-on protects the NCB even in case of a claim.

  • Consumables cover

    When the car is repaired after an accident, various consumables are used in the repair like engine oil, lubricants, nuts, bolts, etc. The add-on, when opted, ensures coverage for consumables too which are not covered in a normal policy claim.

  • Lost key replacement cover

    Under this cover, a replacement key is arranged free of cost if the policyholder loses the original key.

  • Loss of belongings

    Under this add-on, if personal belongings are lost from the cover, the cost of the loss suffered is covered

  • Return to Invoice

    Under this cover, the invoice or full value of the car is paid as claim if the car is stolen or is damaged beyond repairs. A normal policy without the add-on will pay a maximum claim of the insured declared value (IDV) which is calculated after depreciation.

  • Personal accident cover for passengers

    Under this add-on, personal accident cover is available for unnamed passengers travelling in the car with the owner/driver. A lump sum benefit is paid in case of accidental death and disablements faced by such passengers.

  • Medical Expenses Cover

    Under this add-on, the medical expenses caused due to an accident towards the owner driver would be covered.

  • What is No Claim Bonus?

    No claim bonus (NCB) is the discount in the premium charged to the policy holder when no claim has been made during the policy term. It keeps increasing from 20% up to 50%, for every claim free year.

    The no claim bonus is 20% for the first claim-free year. Thereafter, it increases every consecutive claim-free year. The available bonus rates are as follows –

    No claims in the first policy year 20%
    No claims in two successive policy years 25%
    No claims in three successive policy years 35%
    No claims in four successive policy years 45%
    No claims in five successive policy years 50%

    Your NCB is applicable even if you change your insurer, or buy a new car. It’s a great incentive to reward safe drivers. If you make a claim, you will lose your entire NCB in next policy term. Your NCB will be mentioned on your policy.


A car insurance policy is not only legally mandatory, it is beneficial too. Here’s how –

  • The third party coverage protects your finances in the event of a third party claim. If a third party dies, the compensation involved is quite considerable. It might not be possible for every car owner to pay such high compensations from his/her own pockets
  • Even in case of damages to the car, the repair costs involved are quite high. A car insurance policy reduces the financial burden you face when paying for such repairs.
  • If your car is stolen or damaged beyond repairs, the car insurance plan would pay a lump sum money (the IDV of the policy) which would help you buy a new car or deal with the financial loss you face.
  • As the car insurance policy is mandatory, you are protected from legal hassles which would incur in the absence of one.
How to choose the best car insurance policy?

The best car insurance policy can be chosen by comparing different plans available in the market. Comparing is a must because of the benefits it provides. By comparing individuals can buy a policy which has the highest possible IDV, encompasses the most coverage features and charges the lowest premium. Thus, comparing allows individuals to buy the best car insurance plan.

Turtlemint has a tie-up with leading car insurance companies. Individuals can find and compare different car insurance plans on Turtlemint’s website and then buy a plan which is the best.

To compare, the following parameters should be judged –

  • What are the coverage features offered by the plan. The higher the better
  • Insured Declared Value of the policy. It should match with the market value of the car
  • The premium charged against the coverage offered. The best plan is the one which offers the highest coverage at the lowest premiums
  • The premium discounts available. Higher the better
  • The network of cashless garages tied-up with the insurance company. The wider the better
  • The claim settlement ratio of the company which represents the number of claims settled against the claims made. The higher the ratio, the better
  • The add-ons available under the policy, their rates and their suitability to your coverage requirements.

Our insurance partners have provided us the best possible insurance rates. We pass on the highest possible discounts to you always. It unlikely you will find a better rate elsewhere. If you find let us know. We are ready for the challenge!


  • First and foremost, never look at just one or two car insurance companies; always get and compare at least three quotes. Look for companies that offer discounts and good-driver rewards programs.
  • Choose a company that has a good and fast claim settlement ratio and record. Talk with family members and friends about their car insurance providers and experience. Check their social media accounts.
  • Pick the right Insured Declared Value (IDV) of your car. Seek additional covers based on your risk profile. Multi-year policies, if available, are good way to ensure long term cover.
  • Ideally pick company that has a cashless tie-up with the widest network of service stations that you may visit in case of an accident.

Turtlemint helps you with all of the above decisions. In addition, we offer free claims support all our customers.

How to save money on your car insurance
  • Avoid making claims for small expenses because this will cause you to lose your no claim bonus benefit
  • Ensure that the Insured Declared Value of the policy is not very high. The premium is affected by the IDV
  • Choose the correct type of policy for the car. If the car is not used very much, third party liability plans are sufficient.
  • Employ safety features like anti- theft devices. You may get a discount of minimum 5% on your premium, if you inform the insurance company that you have installed an anti-theft device.
  • Choose higher deductibles. (Note: this increases your expense on each claim)
  • The policyholder can avail discounts based on various categories which are declared by the insurance company like the policyholder’s age, profession, driving history, AAI membership, etc. See if you qualify for these.
  • Cut down on unnecessary add-ons which are not required. For instance if the policyholder is not living in a flood-prone area, engine damage add-on is not required.
  • Renew the policy on time. Lapsed policies incur a higher premium.
  • Most important compare premiums before buy. With Turtlemint you can compare premiums across all the top insurers and get the best rates. Our customers have saved up to 60% doing this.
How to make claims for your car insurance policy

In the event of an own damage claim, that is, where your own vehicle is damaged due to an accident, vandalism or natural calamity, you must immediately inform insurance company and police, wherever required.

Insurance company will depute a surveyor to assess the loss, and car will be towed, if required, to a workshop.

A claim report is prepared by the surveyor based on the assessment done. The report is submitted to the insurance company along with the claim form and related documents like –

  • Driving license of the driver/owner of the car
  • RC book of the car
  • PUC certificate, etc.

Once the claim is approved, repairs start. The repairs are completed and delivered to the policyholder. The claim is settled by the company with the garage and the car is delivered to the policyholder.

If your policy provides for cashless service, which means you do not have to pay out of your pocket for covered damages, the insurance company will pay the workshop directly. You will need pay your share of the claim – deductibles, etc – as informed by the insurer.

As a Turtlemint customer, you can simply call us to report a claim or any issue with payment, and we will take care of the rest!

If your policy is not offering you cashless claims, you can choose reimbursement claims. Under reimbursement claims the policyholder bears the repair costs himself and then gets them reimbursed from the insurance company. If the car is repaired at any non-preferred garage, reimbursement claims occur


Once your claim is accepted, you will be paid the approved claim amount minus certain deductions which you will have to pay out from your pocket:

Standard or Voluntary Deductible: this is a fixed amount that you have to bear before the policy comes into force. For private cars, this amount currently is Rs. 1,000.

Depreciation: Standard insurance pays for the actual cash value of your damaged or destroyed vehicle part. However, since the part was already in use, its value will be less than or depreciated in comparison to a new replacement part. This will be 30% for fibre components and 50% for plastics and rubber. If you do not want to bear the depreciation cost, you can buy zero depreciation add-on which is available typically for cars not older than 3 years.


If your vehicle is stolen, police and the insurance company must be informed immediately. In addition you must keep the transport department also informed. To make a claim, the vehicle needs to be covered under the comprehensive insurance policy.

You will need to submit the police First Information Report (FIR), letter intimating RTO along with requisite claim form duly filled in, to the insurance company. Your claim will be paid after police give the final “non-traceable” report.

The amount you will receive for a theft claim is the Insured Declared Value (IDV) mentioned in the policy. You will need to sign the RC in favour of the insurance company and complete other handover formalities.


A third party claim, is where your vehicle was involved, in causing bodily injury, death or damage to property. It is important to ensure that the accident is reported immediately to the police as well as to the insurance company. On the other hand, if you are a victim, that is, if somebody else’s vehicle was involved, you must obtain the insurance details of that vehicle and make an intimation to the insurer of that vehicle.

The limit for property damage liability is capped at Rs. 7.5 lakhs. Any amount above this will have to be borne by the policyholder. There is no limit for bodily injury or death claim. The amount of liability is decided by a special court, the Motor Accident Claims Tribunal, based on factors such expenses for medical treatment of the injured, and loss of income in case of death.


It’s simple, just call us on our toll-free number about a claim you want to report, dispute or discuss. Our expert claims team will help you through the entire process. Our team will also work with the insurance companies directly to advance your case, and proactively inform you about the progress.

With our experience of having processed thousands of cases successfully, you can rest assured that you will get the best service and outcome.

You can also visit the link https://www.turtlemint.com/raise-claim and raisea claim with Turtlemint easily

Other FAQs

There is no limit to the number of add-ons one can buy under a car insurance plan. Each add-on would attract an additional premium and the policyholder can choose as many add-ons he requires.


Car insurance plans are offered for a term of one year. After each year the policy should be renewed.


Yes, insurance companies allow a grace period for renewing the car insurance plan. The period offered depends on the policy. Coverage would not be allowed during the grace period. However, the accumulated no claim bonus would be applicable and the policy can be renewed without inspections if the renewal is done in the grace period.


A comprehensive car insurance policy is the best choice because it covers damages suffered by the car too. Since such damages also incur huge costs, a comprehensive cover is best. Moreover, add-ons should be selected for making the cover as comprehensive as possible.


There are various discounts which are available in car insurance plans. These include discounts for installing safety devices, the accumulated no claim bonus, discount for choosing a voluntary deductible and discount for becoming a member of an approved automobile association.

There is also a de-tariff discount that is provided by companies but varies from company to company, location to location and from vehicle to vehicle. It depends on the vehicle’s incurred claim as per the company’s experience and the same can change due to a change in their claim experience!


  • The details of your car like its make, model and variant
  • The fuel type of the car
  • The registration date
  • Registration number of the car
  • The type of policy you want to buy
  • Whether there is an existing policy. If there is, whether the plan has expired or expiring soon
  • If any existing claims have been made in the previous plan or not
  • Any discounts or which you are eligible
  • The IDV you want
  • The add-ons which you want to add to the coverage features

After you provide these details, the calculator would calculate the premiums payable for the policy.


Car insurance plans are offered as one year contracts. Once the stipulated tenure is over, you have to renew the policy. If the policy is not renewed within the due date, i.e. the date on which the existing policy is expiring, the policy is said to expire. An expired car insurance policy is bad because of the following reasons -

  • The coverage under the car insurance policy stops as soon as the policy expires. In the event of any subsequent claim you would have to pay the expenses incurred
  • An expired car insurance policy violates traffic rules. If you are caught with an expired policy you face legal consequences which involve penalties and also imprisonment
  • If the policy is not renewed within a specified time, you lose the accumulated no claim bonus of the plan
  • The premium of the renewed policy, after lapse, is higher than normal renewal premiums
  • In case of renewing an expired policy, the IDV might be low and there would be an inspection of the car before the policy is renewed.

To renew your car insurance policy you should follow the below-mentioned steps -

  • Compare the available car insurance policies and choose a plan for renewal
  • Request the insurance company to arrange for an inspection of your car
  • The insurance company’s surveyor would inspect the car and submit his report after which the insurance company would give you a premium quote
  • Pay the premium online and your policy would be renewed

Moreover, if you are renewing within the specified duration, you can use the accumulated no claim bonus of your previous policy to claim a premium discount in the renewed plan.


IDV stands for Insured Declared Value. it represents the actual sum insured of the car insurance policy. IDV is calculated by deducting the age based depreciation from the market value of the car. The market value of the car would exclude registration and insurance costs for IDV calculations. The rate of depreciation would depend on the age of the car and would be as follows -

Age of the car Applicable depreciation
Less than 6 months 5%
More than 6 months but less than a year 15%
More than a year but less than 2 years 20%
More than 2 years but less than 3 years 30%
More than 3 years but less than 4 years 40%
More than 4 years but less than 5 years 50%

If the car is more than 5 years old, the IDV is mutually decided between the insurance company and the policyholder.

The IDV is paid as claim if the car is damaged beyond repairs or if the car is stolen.


Premium is the amount paid to buy a car insurance policy and to keep it active.


Own damage premium is the amount of premium paid for covering damages to the car caused by events outside the control of the policyholder like earthquakes, accidents, etc.


At fault represents the degree of the policyholder’s contribution to the car collision.


A claims adjuster is an individual who investigates and settles the car insurance claim.


To buy the policy individuals would have to submit the RC book of the car, invoice of the new car or existing policy document for an old car, No claim bonus certificate of the existing policy if required.


If the policy has expired, the Insured Declared Value would be calculated after the inspection of the car has been done by the insurance company. Based on the IDV, the premium would be calculated. Moreover, if the policy is renewed within 90 days of expiry of the old policy, the no claim bonus of the old policy would be applied on the premium and the premium would be discounted.


No, you can buy online car insurance plans for used cars as well as for old cars when you renew the policy.


For online renewals you can visit the insurance company’s website or compare other plans on insurance aggregator websites before renewing. Once the plan is shortlisted, the details of the car should be provided and the premium should be paid online. The policy would then be renewed instantly.


No, car insurance premiums do not depend on the time when the comparison took place. It depends on the details of the car. So, the premium would be same whenever the policies are compared.


Yes, Turtlemint offers you the facility to save your car insurance quotes for future reference. You can generate the quotes online and then save them for later use.


There is no guarantee of cheaper premium rates for continuing with your old insurance company. Insurance companies do not give any loyalty discounts on car insurance premiums if you continue your coverage with them. So, you should compare the available plans to get the lowest premium rate.


Yes, certain changes can be made in your car insurance policy. Allowed changes include the following -

  • Rectification of your name
  • Rectification in the registration number, engine number or chassis number of the car
  • Change or rectification of address
  • Change in the model or the vehicle or the vehicle itself
  • Transfer of ownership
  • Change in fuel variant or addition of accessories
  • Change in RTO
  • Recovery or change in the NCB
  • Addition, rectification or cancellation of hypothecation

For all the changes the insurance company should be contacted with a proof of change. Additional premiums might be required in some cases which should be paid before the change is endorsed in the insurance policy.


You can claim the roadside assistance cover for a maximum of four times during the entire policy period.


To cancel the policy you would have to submit a letter requesting cancellation, proof of an alternate policy to substitute the policy being cancelled, original policy document, proof of sale of the vehicle if it has been sold, acknowledgement letter from the RTO about cancellation of the policy, a NOC certificate from the institution which has financed the car.


ARAI stands for Automotive Research Association of India. Anti-theft devices which have been approved by the ARAI and installed in the car would earn a premium discount.


Any changes made in the car insurance policy is done through an endorsement in the original policy document. Endorsement is, therefore, a written proof of changes done to the policy.


Premium bearing endorsement depicts that the change which is being made in the policy has attracted an additional premium.


CTL stands for Constructive Total Loss of the car. A loss if declared to be a CTL if the estimated repair costs exceed the IDV of the policy. In such cases, the IDV is paid as claim.


Yes, if you are selling your car to another individual you can also transfer the insurance policy of the car to the buyer. While the policy ownership would change, the no claim bonus would remain with you and you can use the bonus to claim a premium discount in another car insurance policy which you buy.


Period of policy depicts the total duration for which the car insurance policy remains effective on a particular car.


Before the final policy document is issued by the insurance company, a cover note is issued containing the details of the policy. The cover note is valid for 60 days after it is issued and serves as a proof of insurance till the final policy is issued.


In case of CTL, the value for which the damaged vehicle can be sold for salvage is called salvage value of the vehicle. This value is deducted from the IDV before the claim is settled.


A copy of the valid driving license, RC certificate of the car, insurance certificate and PUC certificate should be carried in the car at all times.

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