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Tata AIG Car Insurance

A joint venture between American Insurance Group and the Tata Group, Tata AIG General Insurance Ltd has been around for 21 years. The company offers several innovative products tailored to their customers – individuals as well as businesses. The customers can choose from home, health, motor, rural agriculture, and travel insurance.

Quick Summary Of Tata AIG Car insurance

Tata AIG’s car insurance benefits cover many scenarios. You can also include add-ons for more comprehensive coverage.

Primary Features

Benefits

Comprehensive coverCoverage offered for losses incurred in an accident or upon theft of the vehicle.

Easy online purchase

/ Renewal

The policy can be purchased online effortlessly, and an e-copy is

mailed to your email address so you can have access from any device.

Easy claims processTata AIG’s car insurance claims can be filed easily online as well as in person.
Add-onsYou can choose as many add-ons as possible. The insurance company provides no-claim bonus protection, nil depreciation cover, return to invoice cover, cost of consumables, roadside assistance, cover for loss of personal belongings, engine security cover, key replacement cover, and more.
Third-party liabilityProtects against liability towards any third party, person, property, or vehicle, in the event of an accident.
Personal accident coverCovers loss to owner-driver arising from injury, disability, or death due to accident.

Why Choose Tata AIG Car Insurance?

Car insurance needs vary from person to person. Tata AIG’s car insurance offers a host of features and benefits:

  • Easy transaction – Tata AIG’s car insurance is easy to buy online. With just a few clicks of the button, you can purchase car insurance online and have the policy in your inbox in no time.
  • Tailored to your needs – Every individual’s expectations from their car insurance policy is different. With Tata AIG, you can opt for any add-ons that you think you’d benefit from and customize your policy to suit your requirements.
  • Great settlement ratio – Tata AIG has settled 98% of the claims made from April 2020 to March 2021.
  • Complete vehicle security – Every car insurance policy covers costs that come from theft of or any sort of damage to your vehicle.
  • Huge network – With a network of over 7500 authorized garages, you can get easy access to a cashless claim. Also, since the garages are already authorized, you can be rest assured knowing that the repairs done will be of high quality.
  • Seamless claims procedure – Online claims with Tata AIG ensure a quick and seamless claims settlement. Just a few clicks and your claim process is underway.

What is Covered and Not Covered Under TATA AIG Car Insurance?

Any insurance policy has a set of inclusions and a set of events or conditions that are not a part of it. While purchasing add-ons with a policy that cover a number of scenarios, there are some standard exclusions.

Inclusions of TATA AIG Car Insurance

Third-party liability

In the event of an accident that includes a third party, be it a person / people, property or a vehicle, the policy protects you from any financial liability that may arise.

Damage due to natural disasters

Natural disasters are part and parcel of life. Floods, cyclones, landslides, storms, hailstorms, frost, lightning, and earthquakes could result in damage to your car. Financial loss arising from such situations will be covered by Tata AIG’s car insurance policy.

Damage due to man-made disasters

Like natural disasters, man-made disasters too are inevitable. Costs arising from damage due to riots, acts of terrorism, fire, self-ignition, and explosion are covered under the policy.

Transit coverage

Any damage that occurred during transit of the vehicle via air, road, and rail is covered by the Tata AIG car insurance policy.

Exclusions of TATA AIG Car Insurance

Mechanical /electronic breakdown

Any costs arising due to mechanical or electronic failure of the vehicle is not covered under the policy.

Consequential losses

Any loss arising a consequence of previous damage is not insured under the policy.

Territorial boundaries

If an accident occurs outside India, the costs incurred are not covered by the insurance policy.

Deliberate acts

If any damage is deemed deliberate, Tata AIG car insurance does not cover the costs arising from such a situation.

Exceeding limitations of the vehicle

If the vehicle is used in a manner where its limitations are exceeded, any costs arising from damage will not be covered.

Driving without a valid licence

Any costs incurred while driving without a valid licence are not covered under the policy. Moreover, this is an offence punishable by law.

Driving under the influence

If any damage occurs while driving under the influence of alcohol or any other intoxicants, the costs are not covered by the policy.

Breach of terms and conditions

If the vehicle is used for commercial purposes or purposes other than that mentioned in the policy document or is used for racing, testing its speed, or in reliability trials, any damage arising will not be covered under the policy.

Nuclear peril, war, and war-like operations

Any damage arising as a result of nuclear events, war or activities that are war-like in nature are not covered under the policy.

A Host Of Add-ons With Tata AIG Car Insurance

You can choose multiple add-ons to your car insurance policy for extra protection.

Tata AIG offers the following 12 add-ons:

  1. No-claim bonus protection – Car insurance policies often offer no-claim bonuses at the time of renewal as a reward for not filing a claim during the policy’s previous tenure. This bonus is withdrawn if a claim is filed. The no-claim bonus protection add-on protects your discount in the event a claim is filed.

  2. Depreciation reimbursement – This add-on covers the depreciation amount that is deducted under its own damage claim from the value of replaced parts. However, only two claims under this add-on are permissible.

  3. Roadside assistance – If your car breaks down in the middle of the road, it can be frustrating to find help with the issues. The roadside assistance add-on provides help if such events should arise. One phone call, and help is on the way.

  4. Repair of glass, fiber, plastic, and rubber parts – If your car’s plastic, glass, rubber, or fiber parts sustain any damage, its replacement cost is covered under this add-on.

  5. Daily allowance – Having a car in the garage can be quite inconvenient. But a daily allowance add-on provides you with an allowance for 10 to 15 days, depending on the cause of the claim, to help make moving around a little easier.

  6. Emergency transport and hotel expenses – Road trips can be fun, but breakdowns and accidents definitely aren’t. If you face such a situation, this add-on will help with an overnight stay or costs traveling back home or to your closest destination.

  7. Key replacement – If your car is broken into or recovered after being stolen, or perhaps you lose your key, replacing it is of utmost importance. This add-on covers the cost arising during such a situation.

  8. Loss of personal belongings – With this add-on, you are covered for the cost of the loss of any personal items in the event of a break-in.

  9. Engine security – The engine security add-on protects against costs that may arise due to engine problems.

  10. Tire security – Any costs that may come up due to accidental damage or loss to the tires and/or tubes are covered under this add-on.

  11. Consumable expenses – The cost of consumables – engine oil, gearbox oil, lubricants, nuts and bolts, distilled water, screws, oil filters, clips, washers, grease, air conditioner gas, and brake oil – arising due to an accident are covered under this add-on.

  12. Return to invoice – If your vehicle is completely damaged in an accident, this add-on covers the difference between the insured declared value and its invoice value.

Tata AIG car insurance also offers add-on bundles – a set of add-ons that add value to your policy.

Add-on

Gold

Pearl

Pearl Plus

Titanium

Platinum

Repair of Glass, Fiber, Plastic and Rubber PartsYesYesNoYesYes
No Claim Bonus ProtectionYesYesNoYesYes
Loss of Personal BelongingsYesYesYesYesYes
Emergency Transport and Hotel ExpensesYesYesYesYesYes
Key ReplacementYesYesYesYesYes
Depreciation ReimbursementNoYesYesYesYes
Daily AllowanceNoNoNoYesYes
Return to InvoiceNoNoNoNoYes
Cost of ConsumablesNoNoYesNoNo
Engine SecurityNoNoYesNoNo
Roadside AssistanceNoNoYesNoNo

Procedure To Apply For Or Renewing A Policy Online

While you can always walk into one of the branches of Tata AIG or speak to an agent, online purchases are easy and quick.

You can apply for or renew your policy online through Probus or the insurance company’s website.

1. Apply or Renew via Probus:

Step 1 – Open the Probus website in your browser.

Step 2 – Provide your basic details and contact information, the make, model, and year of registration for your car, its fuel type, and variant. Mention if the vehicle was previously insured. If it was, provide the expiry date of the policy.

Step 3 – From the list of choices, go through the details and pick the policy that you feel is best for you. You can also customize the policy with add-ons.

Step 4 – Go to the payment page and complete the payment. Once the transaction is successful, you will receive the policy document in your inbox. Save a copy to access it on the go.

2. Apply or Renew via the official Tata AIG’s Website

Step 1 – Open https://www.tataaig.com/ in your browser.

Step 2 – Click on ‘BUY’ and then click ‘CAR’.

Step 3 – Choose whether you are applying for a new vehicle or an old one and type in the car’s registration number. Provide your contact details, your mobile number and email address, and permit the company’s agent to contact you.

Step 4 – Click on GET QUOTE to see what your premium amount is.

Step 5 – Type in details of your car, any claims made previously, and existing policy (if renewing). Check the insurance declared value for your car and the premium amount.

Step 6 – Pick your add-ons. This will adjust your premium amount.

Step 7 – Provide the details required on the page, make the premium payment, and receive your policy in your inbox. Don’t forget to save a copy of the document.

I Need To File A Claim, What Do I Do?

Filing a claim with Tata AIG is a quick and easy process.

You make a claim under the following circumstances:

I. Third-party Claim

  1. If a third party – person / people, property, or vehicle, is involved in the accident, first inform the insurance company of the accident.
  2. File an FIR with the police station in the area where the accident occurred.
  3. The motor accidents tribunal then determines where the liability lies.
  4. The insurance company of the liable party then pays the amount.

II. Own Damage Claim

  1. If your car sustains damage and needs to be repaired, inform the insurance provider immediately after the accident.
  2. The company will give you details about the nearest garage in their network. You can take your vehicle there or any other garage in the company’s network for a cashless claim. If you choose to take your vehicle to a garage that is not a part of the network, then the claim will be settled via reimbursement.
  3. An insurance surveyor will then inspect and assess the damage and estimate the cost of repairs. The claim report is then prepared and filed with the insurance provider.
  4. The insurance provider assesses the claim and decides whether or not to approve it. If it is approved, then the repairs will be made.
  5. Once the work is done, the insurance company settles the bill with the garage. You will be required to pay the deductible amount as agreed upon in the insurance policy.

III. Theft Claim

  1. In the event of the theft of your vehicle, inform the insurance company immediately.
  2. File an FIR with the nearest police station. This is imperative to process the claim.
  3. The police will then try and find the vehicle. If they are unable to trace it, a non-traceable certificate is then issued for your car.
  4. Submit the non-traceable certificate along with the other documents that are required to the insurance provider.
  5. You will receive the insurance declared value of the vehicle.

How Is The Premium Calculated?

The premium amount is calculated based on a number of factors. It takes into account the make, model, and registration year of the car, its fuel type, variant, and insurance declared value.

Car Model and Variant

Price

Insurance Declared Value

Estimated Premium

Tata Tiago 2019-2020 XZ Plus DieselINR 7.15 lakhINR 359,999INR 10,495
Hyundai Grand i10 Asta AT CNGINR 7.42 lakhINR 378,005INR 7314
Toyota Innova 2.0 G (Petrol) 8-Seater BSIVINR 10.21 lakhINR 614,714INR 20,289
Honda Jazz 1.2 E iVTEC (Petrol)INR 6.41 lakhINR 359,408INR 8812

Frequently Asked Questions

1. What is IDV?

Ans: IDV or insurance declared value is the value of the vehicle calculated based on its market value after adjusting for depreciation due to the car’s age.

Car’s Age

IDV

0 to 6 months95% of market rate
6 months to 1 year85% of market rate
1 year to 2 years80% of market rate
2 to 3 years70% of market rate
3 to 4 years60% of market rate
4 to 5 years50% of market rate

2. How many claims can I file with the nil depreciation add-on?

Ans: You can file for a maximum of two claims for which the nil depreciation add-on is applicable. If a third claim is filed, depreciation would be subtracted for spare parts regardless of whether the policy has a zero-depreciation cover add-on.

3. Can I avail of a discount on my premium?

Ans: It is possible to get a discount on your premium. Insurance companies offer no-claim bonuses to people who have not filed a claim in the previous policy term / terms. You could also get a discount for installing safety devices in the vehicle or if you belong to a recognised automobile association. You could also opt for a higher deductible to lower your premium. If you live with a disability, visual, physical, or intellectual, insurance companies provide a discount on the premium.