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About Future Generali Car Insurance

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

  • The company’s asset base has grown from a humble INR 160 crores to INR 3629 crores (as on the financial year ending on 31st March 2019). This shows that the company has a strong financial foundation and is solvent enough to meet your claims
  • You can easily access the company through its presence across more than 125 branches all over India
  • The company has an in-house claim settlement team ensuring that your claims are settled quickly
  • The company has been bestowed with ISO 9001:2008 certification which shows its emphasis on quality
  • The company also has ISO/IEC 27001:2013 security management system which prevents cyber frauds and keeps your personal data safe

Future Generali Claim Settlement Ratio

93%

Future Generali

94.67%

Industry Average

Car claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. Future Generali has a claim settlement ratio of 93%, as compared to the industry average of 94.67%.

Future Generali Car Insurance Plans Overview

Future Generali car insurance offers 2 car insurance plans. The premium of these plans starts from Rs. 2094/yr. Details of the comprehensive coverage provided by the following 2 Future Generali car insurance plans are listed below:

Future Generali Comprehensive Car Insurance

Starting Premium- ₹ 3,225/yr

There are types of Future Generali Comprehensive plan

Comprehensive package policy

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-

  • Financial liability faced if any individual is killed due to the car
  • Financial liability faced if any individual is physically hurt due to the car
  • Financial liability faced if the car damages any individual’s property
  • Damages faced by the car due to natural disasters like earthquakes, floods, landslides, road slides, cyclone, storm, etc.
  • Damages faced by the car due to man-made disasters like fire, malicious acts, riots, strikes, etc.

Future Generali Third Party Car Insurance

Starting Premium- ₹ 2,094/yr

There are types of Future Generali Third Party plan

Third-party liability policy

This policy is mandatory as per the rules of the Motor Vehicles Act, 1988. It covers the following instances

  • Financial liability faced if any individual is killed due to the car
  • Financial liability faced if any individual is physically hurt due to the car
  • Financial liability faced if the car damages any individual’s property

Future Generali Premium Calculator

Use our Future Generali car insurance premium calculator to estimate Future Generali car insurance premium for your car within 30 seconds

Add-ons Available Under Future Generali Car Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the Car insurance policy. Future Generali Car insurance plans offer the following types of add-ons with the comprehensive policy:

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 –

  1. Continuation of the journey to your destination
  2. Local travel facility when you are on a trip
  3. Cost of overnight accommodation in a hotel when you are on a trip
  4. Delivery of your vehicle
  5. Medical coordination in case you need medical assistance
  6. Urgent message relay

Features Of Future Generali Car Insurance Plans

The car insurance plans offered by Future Generali offer you the following benefits

  • The coverage under the plan is comprehensive so that you can enjoy an all-inclusive coverage for your beloved car
  • The policy is issued instantly when you choose to buy it online
  • You get free towing assistance within the city if you suffer an accident and your car is damaged
  • You are promised a personalised service at the time of car insurance claims. Moreover, the claims are made technically advanced through the company’s Future Xpress and Future Xpress + claim processing technology
  • The company is tied up with more than 900 garages across India allowing you easy cashless claim settlement facility
  • There are a range of add-on coverage benefits which you can select for enhancing the coverage under your car insurance policy

Exclusions Under Future Generali Car Insurance Plans

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

  • Damages suffered when the car is being driven outside India
  • Damages suffered when the car is used without a valid driving license
  • Damages suffered when the car is driven under the influence of alcohol or drugs
  • Damages suffered in using the car against its usage limitations
  • Depreciation and normal wear and tear of the car
  • Consequential losses suffered by the car
  • Any type of electrical or mechanical damage
  • Damages due to war and nuclear perils

How To Raise A Claim Under Future Generali Car Insurance

For own damage claims

  1. Inform the insurance company immediately of the claim. If your car has suffered any damage, the insurance company would tell you the location of the nearest preferred garage wherein you would be able to avail cashless repairs
  2. Take your car to the preferred garage mentioned by the company for cashless repairs. In case your car cannot be driven to the garage, the company would also arrange for a towing facility for the same
  3. At the garage, the insurance company’s surveyor would come and assess the extent of loss that the car has suffered
  4. The surveyor would, then, prepare a claim report and an estimate and submit the report and the estimate to the insurance company
  5. The company would then approve the claim
  6. Once the claim is approved, repairs on the car would begin
  7. When the repairs are completed, the repair costs are settled directly by the insurance company and you can take the delivery of the car

For third party claims

  1. If there is third party damage, the police should be informed immediately along with the insurance company
  2. The claim would then be taken to the motor accidents tribunal which would decide the financial liability that is payable
  3. The liability would be paid by the insurance company and the claim would be settled

For theft of the car

  1. If the car is stolen, the insurance company and the police should be informed immediately
  2. The police would try and locate the car. If they are unable to do so, they would issue a non-traceability certificate
  3. This certificate would then be presented to the insurance company and the company would settle your claims

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 claims@turtlemint.com. 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.

Documents Required For Claims

To buy a car insurance policy from Future Generali, you would have to submit the below-mentioned documents

  1. RC book of the car
  2. Driving license of the person driving the car
  3. Copy of the car’s PUC certificate
  4. Your KYC documents which include your age proof, identity proof and address proof
  5. Policy bond in original
  6. Claim form which should be filled and signed
  7. Police FIR for third party and theft claims

Future Generali Customer Care

Customer Care Number

Future Generali Car Insurance Renewal Process

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.

FAQs

To buy a car insurance policy from Future Generali, you would have to submit the below-mentioned documents

  • RC copy of the car
  • Invoice of the car
  • Driving license
  • Address proof
  • Identity proof
  • Age proof

Yes, at the time of a car insurance claim, you would have to submit the following documents

  • RC book of the car
  • Driving license of the person driving the car
  • Copy of the car’s PUC certificate
  • Your KYC documents which include your age proof, identity proof and address proof
  • Policy bond in original
  • Claim form which should be filled and signed
  • Police FIR for third party and theft claims

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 5%
More than 6 months but less than 1 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%

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 50%
Fibreglass parts 30%
Tyres and tubes 50%
Metal parts 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

Factors 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
Registration location 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
Other discounts The more discounts available in the car insurance policy the lower the premium would be
Add-ons selected If you select add-ons under the plan, the premiums would increase because each selected add-on would carry an additional premium
IDV 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.
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