Smart vehicle protection for your car and two-wheeler. Clear guidance on Insured Declared Value (IDV), Zero-Dep riders, Engine Protection, No Claim Bonus (NCB) transfer, and cashless garage claims.
Under the Motor Vehicles Act, 1988, driving any vehicle on Indian public roads without active insurance is a punishable offense carrying heavy fines or imprisonment. However, choosing the right type of cover determines whether your wallet is protected after an accident:
Insured Declared Value (IDV) is the maximum sum insured payable by the insurer in case of total vehicle loss or theft. It represents the manufacturer's listed selling price adjusted for age depreciation per IRDAI schedules:
| Age of Vehicle | % Depreciation for IDV |
|---|---|
| Up to 6 Months | 5% |
| Exceeding 6 Months up to 1 Year | 15% |
| Exceeding 1 Year up to 2 Years | 20% |
| Exceeding 2 Years up to 3 Years | 30% |
| Exceeding 3 Years up to 4 Years | 40% |
| Exceeding 4 Years up to 5 Years | 50% |
Many online aggregators reduce the IDV by 20% to show you an artificially cheaper premium. Never fall for this! If your car is stolen or suffers total constructive loss in a flood, the insurer will only pay this depressed IDV, leaving you with a massive financial loss of ₹1 Lakh to ₹3 Lakhs. Always set your IDV accurately as per the official IRDAI schedule.
Standard policies deduct 50% depreciation on rubber/plastic/nylon parts and up to 50% on metal parts. Zero-Dep eliminates this deduction, paying 100% replacement cost on all spare parts.
Standard comprehensive policies strictly exclude water ingression into the engine during monsoons. This rider covers full engine rebuilding and differential replacement costs (often costing ₹1 Lakh to ₹4 Lakhs).
Covers nuts, bolts, engine oil, brake fluid, coolant, AC gas, grease, and washers that are otherwise excluded from claim bills.
In case of theft or total loss, RTI pays the full on-road purchase price (ex-showroom + road tax + registration charges), rather than just the depreciated IDV.
Emergency breakdown assistance including battery jump-start, flat tire replacement, fuel delivery, and emergency flatbed towing.
No Claim Bonus (NCB) belongs to you (the driver/owner), NOT to the car! If you maintain claim-free years, your NCB increases from 20% to 50%. When you sell your old car to buy a new one, ask your insurer for an NCB Reserving Certificate. You can transfer this 50% discount to your brand-new car, immediately saving ₹15,000 to ₹35,000 on your new car's Own Damage premium!
As an IRDAI-registered Insurance Marketing Firm, RakshaPoint Insurance Marketing LLP compares motor insurance policies across our approved panel of general insurers. We check local cashless workshop tie-ups, claim settlement speed, surveyor availability, and NCB retention rules.
Speak with a Qualified Insurance Sales Person (ISP) for car or two-wheeler renewal.
Transparent parameter-based policy guidance from qualified Insurance Sales Persons (ISPs) under IRDAI IMF regulations.