Mahindra and Mahindra Car Insurance Plans

Mahindra and Mahindra Limited is one of the largest multi-vertical companies in India. It is an Indian multinational vehicle manufacturing company with its headquarters situated in Mumbai, Maharashtra. It was initially known as Muhammad and Mahindra and was established in 1945. Mahindra began as a steel trading venture and steadily it turned into a global brand entered the automobile sector spanning various nations and industries. It is a part of the Mahindra Group and has its presence in more than 100 countries and in over 150 companies spanning over 25 industries and 11 sectors that are the foundation of every modern economy. Apart from being one of India’s largest vehicle manufacturer by production, Mahindra is also the largest manufacturer of tractors in the world. It has a host of products in various sectors including automobiles which includes SUVs, pickups, saloon cars, lightweight and heavyweight commercial vehicles, tractors and two-wheeler motorcycles. Being a customer-centric organisation, Mahindra and Mahindra is known for delivering durable, fuel-efficient and environmentally conscious products.

Most popular Mahindra models

Here are the top five car models of Mahindra which are very much in-demand in India –

Mahindra car insurance

You can choose any Mahindra model as your dream car but you also need to insure that model under a car insurance plan. Car insurance is mandatory for all vehicles in India as per the rules of the Motor Vehicles Act, 1988. As such, you need to insure your Mahindra car under a valid insurance policy so that you can drive the car in India.

Types of Mahindra car insurance

When it comes to insuring your Mahindra car, there are two types of car insurance plans which you can choose from. These plans are as follows –

• Third-party liability car insurance plan
• Comprehensive car insurance plan

While the first car insurance policy, third party liability insurance, is mandatory as per the Motor Vehicles Act, the second one is optional. A third party policy covers only the legal liability suffered if any third party suffers a financial loss due to your Mahindra car. A comprehensive policy, on the other hand, covers not only the mandatory third-party liability but also the damages suffered by your Mahindra car itself. So, if your car suffers damages and needs repairs, the comprehensive policy would provide you with financial assistance, a feature which is not available under third party liability plans.

Mahindra car insurance – inclusions

When you buy a Mahindra car insurance policy, you get covered for the following instances –

• Third-party liability for causing physical injury or death of a third party
• Third-party liability for causing third party property damage
• Damages suffered due to natural perils like flood, storm, inundation, landslide, lightning, hurricane, etc.
• Damages suffered due to man-made perils like fire, riots, strikes, malicious acts, explosion, etc.
• Damages suffered when the car is being transported through rail, road, air or water
• Theft of the car

Third-party liability insurance plans cover only the first two instances while comprehensive policies cover all of them. Moreover, there is a personal accident cover which is also needed with your Mahindra car insurance policy. This cover is for INR 15 lakhs and it covers accidental death and disablement suffered by the owner or driver of the car.

Mahindra car insurance – exclusions

Though your Mahindra insurance policy can be comprehensive in nature, there are certain claims which are not covered by it. These claims form a part of the coverage exclusions. Some of the commonly found exclusions in Mahindra car insurance plans include the following –

1. Damages suffered if you were driving without a valid license or outside the boundaries of India
2. Damages suffered if you were using the car to commit an illegal or criminal act
3. Damages suffered if you were driving under the influence of alcohol, drugs or both
4. Electrical and mechanical breakdown of the car
5. Consequential losses
6. Depreciation
7. Wear and tear due to usage of the car
8. Damages suffered if the limitations of the usage of the car were violated

Mahindra car insurance – add-ons

The scope of a comprehensive car insurance policy can be further enhanced by choosing add-ons which are available as optional coverage benefits. Add-ons require an additional premium and they enhance the coverage as well as the claim amount payable under Mahindra insurance plans. The popular add-ons available under Mahindra car insurance plans include the following –

• Engine protection add-on
  If water seeps into the engine of the car and the engine are damaged, such damages would not be covered under a normal car insurance plan. But if you choose this add-on then engine damages due to water seepage would be covered and you would get a claim.
  
• Roadside assistance add-on
  If your car breaks down in the middle of the road and you are unable to move to the nearest garage, the roadside assistance add-on would provide help. Under this add-on, the insurance company would give you 24*7 support for a flat tyre, empty fuel tank, dead battery, electrical or mechanical breakdown of the car, etc.
  
• Zero depreciation add-on
  Depreciation on the parts of the car is not covered under a car insurance policy. That is why the insurance company deducts the relevant depreciation from the claim amount when a claim for damage is settled. This deduction can be considerable and incur a financial expense for you. A zero depreciation add-on is the solution to this situation. The add-on negates the effect of depreciation and the insurance company pays for the actual cost of the parts of the car which are repaired or replaced and not the depreciated cost.
  
• NCB protection add-on
  NCB is the no claim bonus which you earn if you don’t make a claim in your car insurance policy. You can even accumulate this NCB every successive claim-free year and get a maximum NCB of 50%. However, even if a single claim is made, the NCB becomes zero. This add-on protects the NCB from becoming zero even after a claim is made in the car insurance policy.
  
• Return to invoice add-on
  Under this add-on, the invoice value of the car is paid if your car is stolen or if it is damaged beyond repairs. This enhances the claim amount considerably and allows you to suffer minimal financial loss in case of theft or total loss.
  
• Personal accident for passengers add-on
  Under this add-on, personal accident cover is offered for the passengers of the car. Under this cover, if the passengers of the car suffer accidental death or disablement, a lump sum benefit is paid.

A premium of Mahindra car insurance

The premium of Mahindra car insurance policies depends on a lot of factors. These include the following–

1. Type of policy bought – comprehensive or third party
2. The make, model and variant of the car
3. Manufacturing year
4. Registration location
5. Fuel variant
6. Add-ons selected
7. Applicable premium discounts

Based on these factors the premiums are computed and fixed by the insurance company. A comprehensive policy has a higher premium than a third party policy given the wider scope of coverage. Similarly, other variants also affect the premium rate.

Given below is the estimated premium rate of the most popular Mahindra car models (petrol variant) without any add-ons and discounts assuming a comprehensive policy is bought and the car is bought in 2020 at Mumbai – 

Discounts under Mahindra car insurance

Comprehensive car insurance plans allow different types of discounts on the premium so that the policy can become affordable and attractive. Some commonly available discounts in Mahindra car insurance plans are as follows –

• Discount for installing safety devices in the car
• Discount for choosing a voluntary deductible 
• Discount for becoming a member of a recognized automobile association
• Discount for buying the policy online

How to buy Mahindra car insurance?

Mahindra car insurance plans are available online and you can buy the policy with a few simple clicks of your mouse. Turtlemint allows you to buy Mahindra insurance for cars from its online platform. To buy through Turtlemint, here are some simple steps which you should take –

1. Visit https://www.turtlemint.com/car-insurance/
2. Enter in your car number to proceed. If, however, you have a new car and the registration number is not yet available, you can enter the registration location and proceed to check the available plans
3. Next, you should enter in the details of your Mahindra car – the model and make of the car, manufacturing year, fuel variant and the model variant
4. You would be asked for your contact information for saving the premium quotes for future reference. You can provide your details or skip it for the time being
5. In the next page, you would be shown the available plans for your Mahindra car. Compare the plans on their coverage benefits and premium rates and then choose the most suitable policy
6. Once you have selected the policy, click on ‘Buy’, provide your details, pay the premium online and buy the policy instantly

How to renew Mahindra car insurance?

Your Mahindra car insurance policy has a coverage duration after which you need to renew it for continued coverage. Renewals should be done within the due date to avoid lapses. To renew, you have the following options –

1. You can visit the website of the insurance company from which you bought the policy and then renew the plan online. You would have to enter the policy details to view your policy and then pay the renewal premium for instant online renewal
2. If you bought Mahindra insurance plan from Turtlemint, you can log into your online Turtlemint account, choose the policy and renew it on Turtlemint’s platform itself
3. You can also renew your Mahindra car insurance policy with another insurance company. To do so you can visit Turtlemint and choose to renew your policy. Provide the details of your car and existing policy and you would be shown the premium quotes of leading insurers. Compare and choose the best policy and buy it online through Turtlemint and your policy would be renewed with another insurer

Mahindra car insurance policy– claim process

Claims under your Mahindra car insurance policy would occur in the following instances –

• Third-party claims
• Damage to your car
• Theft of your car

The claim process for these claims is as follows –

• Call up the claim helpline number of the insurance company and immediately inform it of the claim incurred. This would get your claim registered with the company after which other steps can be taken
• If you have suffered a third party claim or a theft claim, file a police FIR with the local authorities
• In the case of third party claims, the claim would be transferred to the motor accidents tribunal. The tribunal would fix the compensation amount payable and once the liability is fixed, the insurance company would directly pay the compensation to the third party
• In case of a theft claim, the police would try and locate your car. If they fail, they would issue a non-traceable certificate. Submit this certificate to the insurance company to get a settlement of your claim
• If your car is damaged, the insurer would inform you of the nearest networked garage wherein you can get cashless claims
• Take your car to the garage and the insurer’s surveyor would visit to inspect the damages
• The surveyor would prepare and file a report with the insurance company based on which your claim would be approved
• Thereafter, your car would be repaired and the bills would be settled by the insurer
• In case you don’t choose a networked garage, you would have to pay the repair costs yourself. The insurance company would, then, reimburse you for the costs incurred after you submit the claim documents and bills.

There is another alternate way to get your Mahindra insurance claim settled. It is through the help of Turtlemint. Turtlemint has a claim team which handles your claims expertly and gets them settled at the earliest. You can inform Turtlemint’s claim team at support@turtlemint.com or by calling at 1800 266 0101. Thereafter, the claims team would get your claim details, coordinate with the insurance company and get your claim settled at the earliest.

List of documents needed in a claim

For your Mahindra car insurance claim to get settled, you need to submit the below-mentioned documents–

• Filled and signed claim form
• Copy of the policy document
• RC book of the car
• Copy of the driving license
• Copy of police FIR, wherever applicable
• Identity proof of the policyholder
• Any other document as needed by the insurance company