Maruti Suzuki Car Insurance : Benefits, Coverages, Renewal & More!

Maruti Suzuki is one of the best automobile brands in India with a huge customer base. The company enjoys a good reputation among car enthusiasts and offers a range of cars of all categories. The company was founded in the year 1981 and was operating under the name Maruti Udyog Limited. However, today, the company’s name has changed to Maruti Suzuki India Limited and the company is a subsidiary of Suzuki Motor Corporation of Japan. Ever since its launch, the company has launched different types of cars and has won 294 awards and accolades till 2019.

The company has cars in different models and variants. Some of Maruti Suzuki’s most popular cars include the following –

Maruti Suzuki Car Insurance Plan:

Whichever car you choose to buy a car insurance policy would have to be taken in the car. The Motor Vehicles Act, 1988 mandates that if you own a car and you want to drive the car in India, you should have a valid third-party liability insurance cover on it. Just like you need a driving license to drive the car, a car insurance policy is also required.

Besides the legal mandate, car insurance plans are also important because of the following reasons –

• The policy takes care of the financial liability which arises if your car is involved in an accident and there is an eventuality. If any individual is physically hurt or killed by your car, you face financial liability for the loss caused. Similarly, if your car damages someone else’s property, you would have to pay for the damages. Third-party liability coverage takes care of this financial liability. It pays the financial liability which arises in such cases.
• If you opt for a comprehensive car insurance policy, the costs incurred in the repairs of your car would also be covered. In an accident, if your car is damaged, the policy would pay the costs incurred in repairing such damages.

Types of car insurance policies for Maruti Suzuki cars:

There are two types of car insurance policies which are available for Maruti Suzuki cars. These are as follows –

A personal accident cover is also available under both the plan variants. The cover covers accidental death and disablement suffered by the owner/driver of the car. In such contingencies, the sum insured for personal accident cover, which is INR 15 lakhs, is paid partly or fully depending on the contingency suffered.

What is not covered under Maruti Suzuki car insurance policies?

Maruti Suzuki car insurance policies do not cover the following instances of claims –

• Electrical or mechanical breakdown of the car
• Consequential losses
• Normal depreciation suffered due to age of the car
• Wear and tear of the parts of the car
• Accidents faced when driving without a license, under the influence of liquor or drugs, outside the borders of India, in a criminal act, etc.
• War and related perils
• Deliberate accidents or attempted suicides
• Not using the car as per its prescribed usage, etc.

Add-ons available under Maruti Suzuki car insurance plans

Comprehensive car insurance policies also allow you to opt for additional coverage benefits. These benefits are called add-ons and they provide a wider scope of coverage. Each add-on comes with an additional premium and you can choose any number of add-ons as you need. The most common add-ons available under almost all Maruti Suzuki car insurance policies include the following –

1. Roadside assistance add-on – under this cover the insurance company promises round the clock assistance if your car breaks down in the middle of the road and you are unable to take it to the nearest garage. Assistance for change of flat tyre, refilling of fuel, jump-starting of the car, towing, lost key replacement, etc. is allowed under this cover.
2. Zero depreciation add-on – since normal wear and tear of the car’s parts are not covered, in case of a claim the company deducts the cost of depreciation of the parts. As a result, a low amount of claim is paid. This add-on waives off the applicable depreciation on the car’s parts. Through this add-on, the entire cost of the parts which have been repaired or replaced is admitted as a claim without factoring in depreciation.
3. NCB protect add-on – a no claim bonus is allowed if no claim occurs in a policy year. This bonus is a discount on the renewal premium. The rate of bonus also increases after each successive claim-free year. However, in the case of a claim, the entire accumulated no claim bonus is lost. This add-on, however, protects the accumulated no claim bonus even after a claim.
4. Return to invoice add-on – under this add-on, if the car is stolen or if it has been damaged beyond repair, the invoice value of the car is paid as claim.
5. Consumables cover add-on – under this add-on, the cost of consumables like oil, lubricants, etc. are covered in case of a claim.
6. Engine Protect add-on – this add-on covers the damages suffered by the engine of the car due to water seepage.
7. Loss of personal belongings add-on – if your personal belongings are stolen or damaged in the car, the loss incurred in such a case would be covered under this add-on.
8. Personal accident cover for passengers – this add-on extends personal accident cover benefit to the passengers of the car.

How to buy Maruti Suzuki car insurance?

You have two options of buying Maruti Suzuki car insurance policies. These include the following –

• Offline – under this option you would either have to arrange a meeting with the agent of an insurance company and buy the policy from him/her or you can visit the company’s office and buy a policy from there.
• Online – this option is, by far, the easiest and the most convenient way to buy a car insurance policy for your Maruti Suzuki car. You can buy a policy online through Turtlemint’s website. The website promises you ease and simplification in buying your Maruti Suzuki car insurance policy. Through Turtlemint you can compare the best car insurance plans and then buy them with some clicks of the mouse. The process is as follows –
  • Go to the home page of Turtlemint at www.turtlemint.com
  • Choose ‘Car’ to go to the car insurance page
  • Enter the details of your Maruti Suzuki car like the registration number, make, model and variant, fuel type, date of registration, location, etc.
  • Once all the details of the car are entered correctly, you can check the car insurance quotes of different insurance companies
  • You can compare the quotes and choose a policy which offers the best benefits at the lowest premium rates
  • Enter your personal details, pay the premium online and the policy would be issued. It is as simple as that!

Benefits of buying Maruti Suzuki car insurance policy:

Here are some benefits of buying Maruti Suzuki car insurance policy for your car –

1. You can fulfil the legal mandate of having a car insurance policy and avoid legal complications in case of accidents.
2. You would be financially secure knowing that any liability due to third party injury would be taken care of by the car insurance policy. This would spare you the financial trouble.
3. If you choose a comprehensive car insurance policy you can also get coverage for the cost of the repair on your car. These costs are also quite high and the policy would spare you the financial pinch in case your car is damaged.
4. The personal accident cover, which is mandatory, provides a lump sum benefit to deal with unforeseen contingencies

Premium for Maruti Suzuki car insurance policies:

The premium of Maruti Suzuki car insurance policies would be calculated taking into consideration various factors. The factors and their effect on premium computation are as follows –

How to reduce premium of Maruti Suzuki car insurance policy?

You can reduce the premium of Maruti Suzuki car insurance policies using the following ways –

1. 1. Don’t make small claims – claims nullify the accumulated no claim bonus which helps you get premium discounts. So, if the claims are trivial, pay them yourselves and protect your policy’s no claim bonus.
   2. Look for policy discounts – there are different types of discounts which are available in car insurance plans. These include the following –
      1. Discount for becoming a member of a reputed automobile association
      2. Discount for installing safety devices in the car
      3. Discount for buying the policy online, etc.

Look for the available discounts and use them to reduce the premium.

1. Opt for voluntary deductible – voluntary deductible includes you paying a part of the claim from your pockets. If you opt for a voluntary deductible, there would be a premium discount which would reduce the premium charged under the policy.
2. Choose only the required add-ons – though there are a number of add-ons available in car insurance plans, choose the add-ons which you require. Adding unnecessary add-ons would increase the premium as each add-on comes with an additional premium.
3. Compare before buying – always compare the available car insurance policies before buying one. Comparing lets you lower the premium by choosing the policy which has a lower premium for the same coverage benefits. Turtlemint helps you in comparing different car insurance policies so that you can get the lowest premium for your Maruti Suzuki car insurance plan.

Renewal of Maruti Suzuki car insurance policies:

Maruti Suzuki car insurance policies are offered for a specified duration. Once the duration comes to an end, the policy should be renewed to enjoy uninterrupted coverage.

To renew the policy you again have two options which are as follows –

1. Offline renewals – offline renewals can be done through a motor insurance agent or by visiting the company. You would have to provide the details of your existing policy, pay the renewal premium and the policy would be renewed.
2. Online renewals – online renewals are a much simpler way to renew your car insurance policy. Turtlemint offers you a simplified online platform to compare and renew your car insurance policy. You just have to enter your Maruti Suzuki car details, previous policy details and whether the policy is running or not and you can check the different car insurance policies for renewal. You can, then compare and renew your Maruti Suzuki car insurance policy online through Turtlemint. You can enjoy the following benefits when you choose Turtlemint for renewing your Maruti Suzuki car insurance –
   1. A range of car insurance plans offered by leading insurance companies to choose from.
   2. Personalised assistance if you have any queries when renewing the policy.
   3. Easy and secure payment gateway which would allow you to pay online and get the policy renewed instantly.
   4. A dedicated claims handling team which would help you with your car insurance claims when they arise.

Things to remember when renewing Maruti Suzuki car insurance policy:

When you are renewing your Maruti Suzuki car insurance policy, you should keep the following things in mind –

1. Comparison of different plans is a must so that you get the best coverage at the lowest premium.
2. Ensure that the Insured Declared Value (IDV) of the car is not very low. If the IDV is low, you would get a low claim if the car is stolen or completely damaged.
3. Choose the add-ons which you require to make your coverage enhanced.
4. Utilise the no claim bonus of your existing policy to avail a premium discount if you have not made a claim on your policy.
5. Renew before the policy expiry date. If the policy expires, an inspection of the car would become mandatory before the policy is allowed to be renewed. This inspection takes time and is not recommended.

Claims under Maruti Suzuki car insurance policies:

A claim is said to occur in a Maruti Suzuki car insurance policy in the following circumstances –

• If an individual is killed by your car
• If an individual is physically injured by your car
• If you damage someone’s property
• If your car is damaged by a natural or man-made calamity
• If your car is stolen

The first there instances of claims are third party claims while the last two are called own damage claims.

Claim process of Maruti Suzuki car insurance policy:

The claim process under your car insurance policy would be as follows –

Rather than remembering the above-mentioned steps, you can also raise your Maruti Suzuki car insurance claim through Turtlemint. Turtlemint has a dedicated claims department which handles your insurance claims and helps you get the settlement at the earliest. You just have to inform Turtlemint at 1800 266 0101 or claims@turtlemint.com and relax. The claim handling a team of the company would do the rest and help you in getting your car insurance claims settled.

Documents required for Maruti Suzuki Car Insurance claim:

The following documents would be required to be submitted to get your car insurance claim settled –

1. Claim form
2. RC book of the car
3. Driving license of the owner/driver
4. PUC certificate of the car
5. Copy of the policy document
6. Police FIR (in case of a third-party or theft claims)
7. A non-traceable report issued by the police for theft claims
8. KYC documents of the owner of the car

So, whichever Maruti Suzuki car you buy, ensure it under a good car insurance policy to protect your finances from possible instances of claims.