In the year 2020, the Tata AIG General Insurance Co. Ltd. has celebrated its 20 years of service as it started its operations in India on 22 January 2001. This company has grown strongly as a preferred choice of general insurance in India and offers products in automobile, property, travel, personal accident, marine, energy, and many more sectors.
Being one of the popular names in Indian general insurance category, Tata AIG General Insurance Co. Ltd. has it headquarter in Mumbai. With end – to – end services, the company is fanning out its business through various channels such as brokers, agents, and banks to direct channels of servicing, such as e-commerce, telemarketing, and website, to make sure that their business is on run always.
|Features||Coverage and Benefits|
|Third Party Coverage||Up to 7.5 Lakh|
|Incurred Claim Ratio (ICR)||79.31%|
|Personal Accident Insurance||Yes|
|Network Workshops||3000+ across India|
|No Claim Discount||Yes|
TATA AIG Car Insurance Policy Features
TATA Car Insurance includes both comprehensive and third-party coverage.
- The company has more than 3000 cashless network garages.
- The plan includes third-party coverage up to 7.5 lakhs.
- Personal accident damages are covered under the comprehensive policy
- Discount on the own damage premium is offered to individuals who are a member of Automobile Association of India.
- Tata AIG Car Insurance renewal process is simple and hassle-free.
- Special additional coverage as depreciation cover, NCB protection, etc. is offered under their car insurance plan.
- 24*7 claim assistance service to the policyholder
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Key Benefits of TATA AIG Car Insurance
TATA AIG Motor Insurance has numerous benefits to offer to its customers. Let’s take a look at some of the benefits offered:
- This plan covers accidental damage or loss of the insured car. In case of damage due to explosion, lightning, fire, burglary, theft, housebreaking, external accident, terrorism, malicious activities, natural calamity, etc., the expenses incurred are taken care by the insurer.
- This Tata AIG car insurance policy includes personal accident cover to the owner/driver, in the event of any injury or death due to an accident. The compensation as personal accident cover is provided to the policyholder:
- 100% in case of the death
- 100% in case of loss of sight in both the eyes and loss of both the limbs.
- 50% in case of loss of sight of one eye and loss of one limb.
- 100% in case of total or permanent disability.
- TATA AIG vehicle insurance includes third-party insurance coverage, which is specifically designed to ensure that the car owner is safe against any type of third-party legal liability that may occur due to the accident. The coverage under this option includes death/ injury or property damage occurred by the third party.
TATA AIG Car Insurance Sum Insured Options
Sum insured or Insured Declared Value (IDV) under TATA Car Insurance is fixed by the insurer and is payable to the policyholder for claims arising due to theft, loss or total loss of the vehicle. Simply put, IDV is the present market value of the insured vehicle.
The depreciation computed on the car for constructive total loss claims will be as follows:
|Car Age||Depreciation Value|
|Up to 6 months||10%|
|1 to 2 yrs.||20%|
|2 to 3 yrs.||30%|
|3 to 4 yrs.||40%|
|4 to 5 yrs.||50%|
For cars older than 5 years or obsolete models, IDV can be decided between the policyholder and the insurer.
Coverage under Tata AIG Auto Secure Comprehensive Plan
- Any accidental damage or fire loss and associated perils are insured under this plan.
- Theft and housebreaking damages
- Third party property damage and bodily injuries are also covered under this plan.
- Strikes and riots causing damage
- Natural disasters including flood, earthquake etc.
- Terrorist acts resulting in a damage
13 Important Add-on Covers by Tata AIG for Your Car Insurance Policy
The plan also offers add-on coverage under which the policy takes care of the eventualities that are not covered under the basic policy. Let’s take a look at the add-on covers offered by the policy to enhance the basic coverage:
The Tata AIG General Insurance Company offers 13 add-on covers under comprehensive or standalone own damage car insurance, including depreciation reimbursement, roadside assistance, engine secure, daily allowance, return to invoice, tyre secure, key replacement, loss of personal belongings, consumables cover, etc. These add-on covers take care of any additional expenses that are not covered under the base car insurance policy. But car owners need to buy add-on covers on payment of an additional premium amount.
Depreciation Reimbursement Cover
The Depreciation Reimbursement cover pays the depreciation amount deducted from the value of the replaced car parts in case of an own damage claim. This cover can be availed only if the insured car is getting repaired at the network garage of the insurance company. However, this cover can be availed only on the first two claims raised by the policyholder during the policy tenure. In case no car parts have been replaced, the add-on cover cannot be availed and hence, the depreciation amount will not be paid by Tata AIG General Insurance Company.
Engine Secure Cover
The Engine Secure cover will provide coverage for the engine of the insured car against any damages caused due to water ingression or leakage of lubricating oil. It will pay for the repair and replacement expenses of the internal engine parts, transmission, gearbox as well as differential assembly. Moreover, it will also cover the cost of consumables and lubricating oil used in the assembly.
Roadside Assistance Cover
The Roadside Assistance add-on cover will provide on-road assistance or repair services in case the insured car stops working in the middle of the road. It will offer on-the-spot repair services as required by the car to start working again. Tata AIG car insurance offers roadside assistance services, including flat tyre service, on-spot repair, battery jump start service, key retrieval service, emergency towing assistance, fuel support and concierge services.
Daily Allowance Cover
The Daily Allowance add-on cover will ensure that the policyholder is paid an allowance to cover the expenses incurred on a hired vehicle in case the insured car is getting repaired at a garage. Tata AIG General Insurance Company will pay an allowance for a maximum of 10 days for all kinds of claims, except for a total loss or theft claim where the allowance will be granted for up to 15 days. However, no allowance will be paid in case the car gets repaired within three days. Also, the car should be getting repaired at an authorized garage to avail this cover.
Return to Invoice Cover
The Return to Invoice cover helps a policyholder to get the invoice value of the insured car in case of a theft or total loss claim. It reimburses the difference in the amount between the car’s invoice value and the insured declared value (IDV) of the car. It will also reimburse the road tax and first-time registration charges incurred on the insured car. However, this cover is applicable only if the policyholder is the first registered owner of the car.
No Claim Bonus Protection Cover
The No Claim Bonus Protection cover will enable the policyholder to maintain his/ her NCB despite raising a claim during the previous policy year. It protects the NCB of the car owner and prevents it from restoring to zero when a claim is raised. The NCB will be granted for every claim-free year and help reduce the renewal premium up to 50% after five consecutive years. Under the NCB protection cover, only one own damage claim is allowed in a policy year to maintain the NCB. Besides, this cover will apply only if no claims have been raised for at least two or more years.
Tyre Secure Cover
The Tyre Secure cover pays for any repair and replacement expenses arising out of any loss or damages caused to the tyres and tubes of the insured car in case of an accident. Under this cover, the insurance company will pay for a maximum of four tyre replacements during a policy year. Moreover, this add-on cover will apply only if the tyres of the car are being repaired at the network garage of Tata AIG General Insurance Company.
Consumables Expenses Cover
The Consumable Expenses add-on cover will pay for the cost of consumables that needs to be replenished or replaced as a result of an accident of the insured car. The consumables covered under this add-on includes engine oil, brake oil, gearbox oil, washers, lubricants, grease, nut & bolt, bearing, screw, AC gas, distilled water and oil filter, except for the fuel. However, the insured car should be getting repaired at a network garage to avail this cover.
Loss of Personal Belongings Cover
The Loss of Personal Belongings cover will pay for any loss or damages to the personal belongings of the car owners and their family members, such as clothes, audio tapes, CDS, video tapes and other items to be worn. However, the cover does not include personal belongings, money, debit/ credit cards, watches, jewellery, paintings, manuscripts, securities, travel tickets, lens, bank drafts, glasses, etc. Moreover, any loss or damages to the items used for business purposes will not be covered under this cover. Also, this add-on cover comes with a deductible of Rs 250 that needs to paid by the policyholder on every claim.
Emergency Transport & Hotel Expenses Cover
The Emergency Transport & Hotel Expenses add-on cover will pay for the cost of a taxi hired by the policyholder to return home or to the nearest city in case the insured vehicle has met with an accident. It will also cover the cost of an overnight stay opted by the policyholder if required.
Key Replacement Cover
The Key Replacement cover will pay for the cost of replacing the keys of the insured car in case they have been lost, stolen or if someone has broken into the car. It will also cover the labour cost incurred while replacing the keys of the car.
Repair of Glass, Fibre, Plastic & Rubber Parts
The Repair of Glass, Fibre, Plastic & Rubber Parts add-on cover will allow the policyholder to get any small damage on the fibre, glass, rubber and plastic parts of the insured car repaired without affecting the NCB. It will enable the car owner to get the damages to these parts repaired instead of replacing the whole. However, this add-on cover allows the car owner to raise only one claim during the policy tenure without affecting the NCB. Although, the cost of painting any of these parts will not be covered.
Courtesy/ Hire Car
The Courtesy/ Hire Car cover will arrange a car on hire for the policyholder in case the insured car is damaged and getting repaired at a garage. Tata AIG General Insurance Company will arrange the courtesy car for the policyholder within 24 hours of sending the car to the network garage or at the time of raising a claim. However, this cover is applicable only if the car will take more than 24 hours to get repaired or if there has been a total loss or theft. Moreover, the courtesy car will be given for a maximum of 10 days in case of a repair claim and up to 15 days in case of a total loss or theft.
Add-ons for your car insurance
Predetermined Add-on Bundles are available under this plan which has 5 sub-plans namely Gold, Pearl, Pearl Plus, Titanium, and Platinum.
Now, let’s have a brief outlook on each of TATA AIG Car Insurance plans:
Benefits of the Plans
Gold Add-On Plan
Pearl Add-On Plan
Pearl Plus Add-On Plan
Titanium Add-On Plan
Platinum Add-On Plan
TATA AIG Third Party Car Insurance Plan
TATA AIG third party liability insurance policy protects the vehicle owner from the risk and the damage arising due to third-party damages in case of an accident resulting in third-party injury, death and 3rd party property damage.
Coverage Provided in TATA AIG Third Party Car Insurance Plan
- Protection against injury or death caused to a third party
- Protection against accidental damage of a third-party property
Exclusions of TATA AIG Third Party Car Insurance Policy
- Claims arising out of contractual liabilities
- Accidental damage or loss arising due to consequential loss
- Accidental damage or liability occurred outside the geographical region
Exclusions under TATA AIG Car Insurance Plans
There are certain conditions or situations where the payment will not be made under any TATA car insurance plans that can be summarized as follows:
- Consequential loss
- Depreciation /wear and tear
- Breakdowns/ failures –whether it’s mechanical or electrical
- Accidental damage or liability occurred outside the scope of geographical coverage
- Consumption of alcohol before/while driving
- Occurrences beyond specific usage limits
- Claims beyond the scope of policy coverage
- A person driving without a valid license
- Eventualities of war and related activities
- Nuclear perils
List of Tata AIG Car Insurance Plans
- Private Car Insurance Plan
- Commercial Vehicle Plan
- Second Hand Car Insurance Plan
Let’s discuss all the plans in detail:
Tata AIG Private Car Insurance Plans
Tata AIG car insurance recognizes the monetary loss that happens to an individual in case of any accidental damage or collision or theft. Therefore, to cope up with the loss, the insurer has come with their private car insurance plan named as Auto Secure.
Advantages of TATA AIG Private Car Insurance
- Free pick of car
- Up to 6 months of accident repair warranty
- Direct settlement facility at certain specified garages
- Guaranteed quality spares and materials
- Claim settlement within 7 days
- This plan can be purchased and renewed online
TATA AIG Private Car Insurance Eligibility
All car owners are eligible to apply under this plan.
Commercial Vehicle Plan by TATA AIG Motor Insurance
TATA AIG Motor Insurance also covers the commercial vehicles against third party damages including the loss or damage caused to the vehicle.
Features & Benefits of TATA AIG Commercial Vehicle Insurance Plan
This TATA AIG Motor Insurance plan covers the loss arising out of the following
- Fire and associated perils, burglary& thefts
- Riots and strikes
- Damage in transit by air, rail, road, and sea.
- Third party legal liability - Third party property damage and bodily injuries are also covered under this plan.
- Discount (NCB) for claim-free years
- Simple process and hassle-free documentation
- If the vehicle is immobilized, then spot survey facility is available under this plan
- The direct settlement at all manufacture authorized workshops
- A faster claim settlement process
Eligibility Criteria for TATA AIG Commercial Vehicle Insurance Plan
All car owners who own light or heavy commercial vehicle are eligible to buy this plan.
Claims / Queries / Grievances can be filed through the Following Ways
- Calling at the toll-free number of the company
- Writing to general.claims@tata-aig[dot]com and firstname.lastname@example.org for a customer to file queries/grievances
Under this Tata AIG car insurance, the second hand cars or the used cars are also provided coverage.
Features of TATA AIG Second Hand Car Insurance Plan
- Comprehensive Value-Added Insurance
- Special Add On covers provides an extra guard to the second-hand vehicles
Compulsory Personal Accident Cover Plan with TATA AIG Car Insurance
The Tata AIG General Insurance Co. Ltd. Company will pay the compensation of personal accident from injury/ death for the owner-driver for all the vehicles registered under an individual’s name. The compensation provided is as follows:
- 100% in the case of death
- 50% in case of loss of one limb and or one eyesight
- 100% in case of loss of both limbs or both eyesight and one limb and one eyesight
- 100% in case of total permanent dismemberment (other than above mentioned)
TATA AIG Car Insurance Claim Process
TATA AIG Vehicle Insurance plans have the following stages in a claim:
- Report the accident or the loss to the company on their helpline number.
- A survey of the damaged vehicle will be done by the insurance company and a loss evaluation will also be done within 48 hours.
- The company will, thereafter, inform you about the settlement amount, which will be provided as per the sum insured/IDV of the vehicle. After this, the claim will be settled with the authorized workshop.
- Report the accident or the loss to the company on their helpline number.
- A survey of the damaged vehicle will be done by the Tata AIG technical experts and a loss evaluation will also be done within 48 hours.
- The policyholder will have to submit the necessary documents post which the claim will be processed and the amount will be reimbursed. The documents required are as follows:
- Completed Tata AIG Motor claim form
- Driving License of the individual driving the vehicle at the time of the accident /loss
- FIR copy where the claims are against bodily injury or theft and property damage
- Vehicle Registration document
TATA AIG Car Insurance Renewal - Renew Car Insurance Policy Online
Online transactions save us plenty of time and effort, thus making our lives easier. The technological advancements have made purchasing products and services, a quick and hassle-free procedure. TATA AIG car insurance renewal can easily be done online from the comfort of your home.
Just like purchasing car insurance is important, renewing car insurance policy before its due date is equally important. It makes sure that you along with your vehicle are safeguarded from various risks that you are exposed to while driving a car.
Procedure for Online TATA AIG Car Insurance Renewal
The TATA AIG car insurance renewal process has made online vehicle insurance renewal very easy. Gone are the days when you had to visit Tata AIG General Insurance Co. Ltd. branch office, stand in long queues, fill up the TATA AIG Car Insurance renewal form and make the insurance payment. But today, in a matter of a few seconds, you can renew your policy online.
Tata AIG car insurance renewal is very easy, simple and convenient. Before you start this renewal process, keep your car insurance policy-related information handy. There are two ways to renew your insurance plans online which are mentioned below:
Log on to Tata AIG General Insurance Co. Ltd. website and click on the car insurance tab. You'll be redirected to a page, click on the option - 'Renew Existing Policy'. Once you've clicked on that, you'll be redirected to 'Renew Online' tab.
The new page will be opened and you will be asked to fill your existing TATA AIG car insurance policy details. The first field will ask you to enter your existing car insurance policy number. There will be several fields where you need to enter the following details to initiate your TATA AIG car insurance renewal:
- Policyholder's Name
- Client ID
- Engine Number of your insured car
- Chassis Number of your insured car
- Registration Number of your insured vehicle
In addition to these details, you need to fill the information related to your source of income - salary, business, or any other source. Also, you need to provide your contact information such as your email address, mobile number, so that the renewal process can be finished.
You can go ahead with the first option. But if you want to save money on your renewal premium, you can compare the best car insurance premiums on Policybazaar’s website and opt for the one that offers you maximum saving.
Why to Apply Online for TATA AIG Car Insurance?
Tata AIG Car Insurance provides online purchase of car insurance plans and the reasons why one should avail the same can be summed up as follows:
- Transparent, fast, easy and reliable: The plans are very translucent, faster in processing, easy to understand and can be relied upon.
- Simple Documentation: Easy and hassle-free documentation makes all the online plans very simple.
- Nonstop Coverage: With an e-copy of the policy, life becomes much easier and simple.
So online insurance plans for the car, be it purchase of insurance plans or renewal of insurance plans, all become much more user-friendly and customer-focused.
Tata AIG Car Insurance - FAQs
Ans: Tata AIG Car Insurance calculates Insured Declared Value (IDV) on the basis of age, model, and brand of a vehicle. The registration and insurance costs are excluded from IDV. As the car grows old, its IDV also depreciates. To calculate IDV, Tata AIG Car Insurance follows the following depreciation schedule:
Age of the vehicle % depreciation for calculating IDV Not exceeding 6 months 5% Exceeding 6 months but less than 1 year 15% Exceeding 1 year but less than 2 years 20% Exceeding 2 years but less than 3 years 30% Exceeding 3 years but less than 4 years 40% Exceeding 4 years but less than 5 years 50%
Ans: The Insurance Act, 1938 doesn’t allow you to pay your car insurance premium in instalments. If you buy Tata car insurance policy online, you can use the credit card to make the entire payment and then repay it to the credit card company in instalments.
Ans: Besides offering coverage against third-party liability, Tata AIG’s comprehensive policy covers the insured vehicle against various losses or damages such as:-
- Earthquake (Fire and Shock Damage)
- Flood, hurricane, inundation, storm, tempest, cyclone, hailstorm, frost, typhoon,
- Landslide, rockslide
- Whilst in transit by road rail inland – waterway, lift, or air
- Accident by external means
Ans: Yes, cashless facility is available with Tata AIG Vehicle Insurance.
Ans: If the insured vehicle runs out of fuel and hence is immobilized, Tata AIG Car Insurance will give an emergency fuel up to 5 litres on a chargeable basis at the location of breakdown.
Ans: Yes, there is an NCB protection cover available under Tata Car Insurance Plan. If you get plastics, rubber or fiber part repaired at the authorized centre of Tata, it will not affect your NCB. However, this coverage is available up to 1 claim only.
Ans: Yes, contact the nearest branch with a written request. A nominal fee is charged for issuing a duplicate copy of the Tata AIG car insurance policy.
Ans: The roadside assistance of Tata AIG Vehicle Insurance can be broadly classified under the following heads:-
- Repair and towing assistance service for a flat tyre- If the insured vehicle is halted due to a flat tyre, the insurer gives you emergency assistance to fix/replace the flat tyre.
- Flat battery jump start service- If the battery runs down, the insurer will make available a technician to help you start the car.
- Spare key retrieval - If your car keys are locked inside the vehicle or are lost or are misplaced and you need to arrange for another set from your home or office, Tata AIG General Insurance Co. Ltd. will help you to get your spare keys.
- Fuel support - If your vehicle runs out of fuel, you will get emergency fuel up to 5 litres on a chargeable basis.
Ans: Rs. 10,000 is the maximum limit to loss of personal belongings cover.
Ans: No, cash is not covered under personal belongings cover.
Ans: Renewing your car insurance policy is very convenient. You can do so in three simple methods mentioned below.
- Online Mode - You can renew your plan online by using your Debit card, Credit card or Net banking.
- Cheque Pick-up - You can avail a free cheque pick-up facility by calling the toll-free number.
- IVR Payment - For making payment using IVR, call their toll-free number and follow the instructions.
Ans: If your car insurance policy has lapsed, it can’t be renewed without an inspection. Within 90 days from the expiry date of the policy, you can place your inspection and renewal request on their toll-free number.
In case the expiry date has exceeded more than 90 days, you need to apply for a fresh car insurance plan.
Tata AIG Car Insurance - News
In the times when our cars are low on usage due to restricted movement and we are still paying the complete amount for the insurance, Tata AIG General Insurance Co. Ltd. has come up with an option wherein you pay as per the usage of the car. In this car insurance, you can save on your premium as you can choose the kilometres you wish to insure from a range of 2,500 km - 20,000 km. Less the kilometres insured, less the premium. Just in case you the kilometres chosen get exhausted during the insurance period, you will be able to buy extra kilometres ranging from 500 km - 1500 km.
The usage-based insurance introduced by Tata AIG General Insurance Co. Ltd. has unique functionality. It comes with a telematics device and app, which has a GPS tracking system. The device tracks the distance you travel, along with the driving habits, which includes, speed, acceleration, hard braking, travelling at night and a few more. The people with safe driving habits are rewarded with bonus kilometres when they renew the insurance.
Apart from all of these, the device also protects your car from theft, thanks to the GPS tracking system and it also helps track the fuel-savings. Further benefits include no-claim bonus, depreciation reimbursement and many more.
Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.Read More