Future Generali is a leading general insurance company which is a conglomeration of two leading companies – the Future Group of India and the Generali Group of Italy. While the Future Group is a leading Indian retailer, the Generali Group is a company involved in insurance and finance. Though Generali was founded in Italy, the company now operates in multiple companies around the world.
Ever since the company was formed, Future Generali has been offering popular general insurance policies to its customers. The company’s policies are so popular that it has already sold more than 82 lakh policies across India and has more than 3000 corporate clients. Today, the company is counted among the leading general insurance providers in India and has a good market share.
The following are some of the reasons why Future Generali is a good choice for your insurance needs –
Among other types of general insurance products, Future Generali also offers car insurance policies for car owners in India. The policy offers a comprehensive scope of coverage and comes at affordable rates of premiums. The company also simplifies the claim process through the technologically advanced claim process.
The car insurance plans offered by Future Generali offer you the following benefits –
It is important to know what is covered and not covered under the car insurance policy offered by Future Generali. So, let’s assess the coverage and exclusions of the policy –
Coverage of Future Generali car insurance policy:
Coverage under Future Generali car insurance policies depends on the type of policy that you buy. There are two types of coverage options available under the plan. The coverage benefits under these options are as follows –
This policy is mandatory as per the rules of the Motor Vehicles Act, 1988. It covers the following instances –
This policy has a wider scope of coverage. It covers both third party liability as well as the damages suffered by the car. The coverage benefits include the following –
Moreover, under both policies, personal accident coverage is also available. This benefit covers accidental death and disablement. If the owner/driver of the car suffers an accidental death or permanent disablement due to an accident involving the car, a lump sum benefit is paid for the loss suffered.
Exclusions of Future Generali car insurance policy:
Though car insurance plans cover all possible types of damages suffered by the car, there are some damages which would not be covered. These are called exclusions and the following exclusions are found in Future Generali car insurance plans –
Future Generali motor insurance plans have add-on coverage benefits which help in increasing the scope of coverage of the policy. These add-ons are available at a minimal additional premium. The add-ons which are offered by Future Generali car insurance plans are as follows –
This add-on pays the full claim amount without deducting the applicable depreciation on the policy. Depreciation is applicable to the parts of the car which are damaged and are being repaired or replaced. This depreciation reduces the number of claims payable. But when you buy this add-on the depreciation is not deducted from the claim amount. The entire amount of claim is paid.
This add-on pays the invoice value of the car if the car is completely damaged or if it is stolen. The invoice value would include the first time registration charge of the car, road tax and customs duty paid on the car.
No claim bonus is allowed under car insurance policies if you do not make a claim in the policy. This bonus allows you a premium discount and the discount increases with every successive claim-free year. However, if you make a claim, the entire no claim bonus would become zero. This add-on protects the accumulated no claim bonus even if there is a claim under the policy.
If the keys of the car are lost or stolen, you get the coverage for the cost of replacement of the keys.
If your laptop and/or mobile is stolen while placed in the car, the cost of replacing the stolen items would be covered under the policy.
Coverage is allowed for replacing the tyre when it bulges, bursts gets punctured or gets damaged due to any other reasons.
When the car is being repaired, this add-on pays you a daily cash allowance for covering the costs that you incur in the absence of the car.
This add-on covers the loss or damage suffered by the car’s engine and/or gearbox due to water seepage or leakage of engine oil.
This cover pays a lump sum benefit in case of accidental death of the owner/driver of the vehicle. Moreover, the damages of the car are also covered under the policy.
If your car breaks down on the road due to mechanical and electrical breakdowns, towing due to an accident, flat tyre, dead battery, locked-in keys, running out of fuel or contamination of fuel, the coverage gives you round the clock help.
This coverage provides you with advanced coverage benefits when your vehicle breaks down. The coverage is allowed for the following –
Besides the above-mentioned add-ons, you can also opt for the below-mentioned additional coverage benefits –
Future Generali car insurance plans offer a range of premium discounts which help in lowering the car insurance premium. These discounts are as follows –
If you do not make a claim under the policy you get a no claim bonus discount which reduces the premium. This discount is allowed for each claim-free year and the rate increases after subsequent years. The applicable rates of no claim bonus are as follows –
Claim free years
Applicable no claim bonus discount
After one year
After two successive years
After three successive years
After four successive years
After five or more successive years
If you choose to pay a part of the claim from your own pockets, it is called choosing a voluntary excess. This excess allows you a premium discount.
If you are a member of a recognized automobile association, you can get a premium discount.
If you install anti-theft devices in your car and if the devices are approved by the Automotive Research Association of India (ARAI), you can get a premium discount of 2.5% subject to a maximum of INR 500.
You can buy Future Generali car insurance plans offline or online. To buy offline, you would have to look for a Future Generali motor insurance agent and buy the policy from him. Alternatively, you can visit the company’s office which is nearest to your home and buy the policy directly from there.
The online mode of buying Future Generali car insurance plans is simpler and much more convenient. You can buy the policy right from your home or office without having to look anywhere else. To buy online you can choose the company’s website and buy the policy directly or you can buy through Turtlemint.
Turtlemint is an online website which allows you to buy the best car insurance policy available in the market. The company is tied up with Future Generali and offers its car insurance policies. You can also compare Future Generali’s policy with other leading car insurance plans and choose the best. To buy online through Turtlemint, you can take the following simple steps –
Renewal of your Future Generali car insurance policy can also be done online through the company’s website or through Turtlemint. To renew from the website of the company, you would have to choose ‘Renew’ on the home page. You would then have to provide your policy number and the expiry date. After the details are provided, you can check the status of your existing policy and renew it online by paying the renewal premium.
Turtlemint also allows easy renewals of your Future Generali motor insurance policies. If you are an existing customer of Turtlemint you can simply log into your account and renew the policy from there. You would have to pay the renewal premium online and the policy would be renewed instantly. Turtlemint also allows you to compare other car insurance plans at the time of renewals so that you can choose another policy if it offers better terms and conditions.
When you suffer any type of claim in your Future Generali car insurance policy, you should take the following steps to get the claim settled –
For own damage claims
For third party claims
For theft of the car
Alternatively, you can also avail claim settlements through Turtlemint. If you bought your Future Generali car insurance policy through Turtlemint, you can inform Turtlemint and the company would then help you in getting your claims settled. Turtlemint has a claim handling team which handle the claims of their customers. You can get in touch with the company’s team of claim experts through their number 1800 266 0101 or post an email to the claiming team at their ID firstname.lastname@example.org. Once the team is informed of your car insurance claim, they would take up the claim process on your behalf and coordinate with the insurance company to get the claims settled.
To buy a car insurance policy from Future Generali, you would have to submit the below-mentioned documents –
Yes, at the time of a car insurance claim, you would have to submit the following documents –
The IDV of the car means its Insured Declared Value. It represents the market value of the car after deducting depreciation based on the car’s age. The rate of depreciation is fixed for all cars depending on their age and it is as follows –
Age of the car
Rate of depreciation
Up to 6 months
More than 6 months but less than 1 year
More than a year but less than 2 years
More than 2 years but less than 3 years
More than 3 years but less than 4 years
More than 4 years but less than 5 years
This depreciation is deducted from the car’s market value to arrive at the IDV. The IDV also represents the maximum coverage available under your car insurance policy. In case of claims, the policy compensates you up to the IDV of the policy.
The rate of depreciation depends on the parts of the car and is different for different parts. It is as follows –
Types of car parts
Applicable rate of depreciation applicable
Rubber, plastic or nylon parts
Tyres and tubes
As per the depreciation of the Insured Declared Value of the car
The premium of a car insurance policy depends on a lot of factors. These factors and their effect on the premium are as follows –
How they affect car insurance premiums
Type of policy
Third-party plans have lower premiums compared to comprehensive car insurance plans
Age of the car
The older the car is the lower would be the premium rate
Make, model and variant of the car
The make, model and variant of the car determines the car’s value. The higher priced the car is the higher would be the premium
Cars in metropolitan cities are charged a higher premium than cars in non-metropolitan ones
No claim bonus
The available no claim bonus helps in reducing the premium and it, therefore, affects the premium that would be charged
The more discounts available in the car insurance policy the lower the premium would be
If you select add-ons under the plan, the premiums would increase because each selected add-on would carry an additional premium
The higher the IDV the higher would be the car insurance premium
If the car insurance policy is not renewed on time, the coverage ceases. Without coverage, you can face legal penalties because car insurance is mandatory as per the Motor Vehicles Act, 1988. Moreover, any damages suffered by the car would have to be borne by you in the absence of a valid cover. If you do not renew the policy within 90 days of its lapse, you also lose the accumulated no claim bonus of the last policy. So, it is always wise to renew your car insurance policy on time.