How to Change the Nominee Name in Your Car Insurance Policy?

If you have a car, it must be covered under a car insurance policy. After all, car insurance with at least a third party cover is mandatory in India and violating this motor law can get you a challan. Besides, car insurance comes to your aid when you need financial assistance to cover your legal liabilities or own damages arising out of your car. By paying a small premium amount, you can save yourself from financial distress that can result from unforeseen incidents involving your car.

Read more


Compare & Save upto 85%* on Car Insurance
Processing
Get Car Insurance starting
@ only 2094/year#
  • Renew Policy In2 Minutes

  • 20+ Insurers To Choose From

  • 51 Lakh+ vehicles insured

#TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

A car insurance policy also provides coverage for the personal accident of the owner-driver of the car. In case the accident of your car results in your death, the insurer pays compensation to your family. The compensation will be paid to your legal heir unless you have mentioned a nominee at the time of buying the insurance policy.

Wondering who a nominee is? Let’s find out.

Who is a Nominee in Car Insurance?

A nominee is a person assigned by the policyholder under a car insurance policy to get the claim amount or compensation in case of the car owner’s demise. Also referred to as the beneficiary, the nominee is assigned by the policyholder while filling the proposal form at the time of buying the policy.

In the case of car insurance, the nominee receives the claim amount under two circumstances. First, when the policyholder dies in an accident of the insured car. In this case, the insurer pays death compensation to the assigned nominee. Second, when the policyholder dies after raising a car insurance claim and cannot receive the claim amount. In this case, the insurer pays the claim amount to the assigned nominee.

Most people assign their spouse or legal heir as their nominee as family members are trustworthy. They are more likely to utilize the compensation received by the motor insurance company for the well-being of the deceased policyholder’s family.

Thus, the nominee assigned by the policyholder and his/her legal heir can be the same person. In fact, it is easier to transfer the car insurance policy to the legal heir’s name if he/she is the nominee.

But what if you want to change your nominee?

Suppose, you bought a car when you were unmarried and had assigned your brother as the nominee under your car insurance policy. But three years later, you got married and now you want to make your wife your nominee.

Well! You can change the nominee in your car insurance policy with the help of an endorsement.

Endorsement in a Car Insurance Policy

An endorsement refers to any changes or additions made to the existing car insurance policy by the policyholder. It is a document that incorporates and records any changes or amendments in your existing policy made as per your request. It acts as proof of any agreed changes made to your car insurance policy.

For instance, if you have changed your phone number and want to get it updated on your car insurance policy document, your motor insurer will pass an endorsement to reflect the change.

Now, coming back to your question.

If you want to change the nominee under your car insurance policy, you will have to get your motor insurer to pass an endorsement. You can request your insurer to pass an endorsement at the start of the policy year, mid-year or at the time of policy renewal.

In some cases, the policyholders may have to submit supporting documents as evidence to get the changes made to their policy. But, you do not need to submit any documents to change the nominee name or any nominee details under your policy. This is because the decision to choose a nominee in your car insurance policy or change it is completely your discretion.

Sometimes, endorsements in car insurance can also lead to an increase in your premium. For instance, if you install a CNG kit in your petrol car, the liability of your insurer towards your car increases. As a result, the insurer will charge you a higher car insurance premium.  

However, a change in your car insurance nominee name will not impact the premium. Thus, your premium will remain the same even after the endorsement.

How to Change the Nominee Name under an Existing Car Insurance Policy?

The process to change the nominee name under your existing car insurance policy is pretty simple. All you need to do is write an endorsement request letter to your motor insurer mentioning the name of the new nominee. You can send the letter via email depending on the terms of your insurer. Since no documents are required to change the nominee name, the insurer will pass an endorsement on the receipt of the letter.

Moreover, you do not require the consent of the existing nominee before changing the nominee name as it is your sole decision.

Other Types of Endorsements Available under Car Insurance

Here is a list of other types of endorsements that can be passed under a car insurance policy:

  • Name change/ correction
  • Change/ correction in contact details, such as phone number or email id
  • Address change
  • Change/ correction in car’s registration number or manufacturing year
  • Correction in car’s engine number
  • Correction in car’s chassis number
  • Change/ correction in car’s make/ model/ engine CC
  • Correction in the car’s fuel type
  • Mismatch in car insurance premium
  • Mismatch in the car’s IDV (Insured Declared Value)
  • Correction in car’s seating capacity
  • Change in nominee name or details
  • Change in covered passengers
  • Increase/ decrease in voluntary deductibles
  • Installation/ removal of CNG kit
  • Installation/ removal of electrical/ non-electrical accessories
  • Hypothecation addition/ removal
  • Renewal of expired policy
  • Non-receipt of the policy document
  • Transfer in policy ownership
  • NCB transfer to another policy

Make sure to notify your insurer about any major changes to your car, which may impact your premium. If later your insurer finds out about any changes to your car that you had not informed about, your insurer may reject your claim.

In a Nutshell

Assigning a nominee under your car insurance policy is a crucial decision as that person will get the claim amount/ compensation in case of your untimely demise. You must assign a trustworthy person as your nominee, preferably family members, so that the money can be used to meet the financial needs of the family. In case you wish to change the nominee details in your car insurance policy, you can easily request your motor insurer to pass an endorsement and the change will be made.

Written By: PolicyBazaar - Updated: 28 June 2021
You May Also Like
  • Transferring Car Insurance from One Person to Another

    Transferring Car Insurance from One Person to Another An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance transfer to the new owner. But sadly, most people have...

    read more
  • 9 Secrets That Your Motor Insurance Provider Won’t Tell You

    9 Secrets That Your Motor Insurance Provider Won’t Tell You Due to the dangerous driving conditions, it is compulsory to have third party insurance for every vehicle plying on Indian roads. It ensures the overall saf...

    read more
  • Money Saving Advice for All Car Owners

    Money Saving Advice for All Car Owners After a dream home, a dream car is your second-largest purchase that you make in your lifetime. But the expense does not cease when you drive off the car dealer's lot. Read mor...

    read more
  • Difference Between Comprehensive Insurance and Third Party Insurance

    Difference Between Comprehensive Insurance and Third Party Insurance Comprehensive insurance is insurance coverage that pays for the repair or replacement of vehicle damages resulting from an incident. Comprehensive ca...

    read more
  • Types of Motor Insurance

    Types of Motor Insurance The word Motor broadly covers a lot of classes of vehicles plying on the roads. These may be two-wheelers like scooters and motorbikes, three-wheelers or four wheelers like private cars, jeeps, ...

    read more

Find similar car insurance quotes by body type

Hatchback Sedan SUV MUV
insurance-ka-superhero
Search
Car insurance save up to 85
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Calculate your car IDV
IDV of your vehicle
Calculate IDV
Calculate Again

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.

Policybazaar lets you compare premium prices from 20+ Insurers!
Compare Prices

Why buy from Policybazaar?

  • 24x7 Claims Assistance
    NEW
  • Cashless Assurance
  • 3-Day Repair Assurance
  • Free Pickup & Drop
  • Self Video Claims
  • Windshield Claims At Home
View Plans

Car insurance articles

Recent Articles
Popular Articles
Know All About Pay As You Drive and How You Drive Insurance

21 Sep 2022

Are you also worried about high motor insurance premium rates?...
Read more
Renew Your Car Insurance Policy with the AI-Based Technology

12 Sep 2022

As per the Motor Vehicle Act, 1988, every car owner must possess...
Read more
Why Should You Choose a New India Car Insurance Policy?

24 Aug 2022

Buying a car insurance policy is one of the best ways to protect...
Read more
How to Save Tax on Electric Vehicles (EVs)?

23 Aug 2022

Electric cars are known as the future of the automotive industry....
Read more
How Can Modifications Affect Your New India Car Insurance?

05 Aug 2022

In India, car enthusiasts love to modify their cars with...
Read more
Multiple Ways To Check Your Car Insurance Status Online
All insurance companies in India now have a digital presence. It not only makes it easier to buy insurance online...
Read more
Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
Losing important documents, such as your car insurance documents, can be daunting. In such a state of affairs, the...
Read more
Car Depreciation Calculator
If you are looking to purchase a new car or planning to sell your existing one, it is important to know how...
Read more
Check Car Insurance Status Online on Parivahan Sewa/ RTO?
In India, buying car insurance is a compulsion for every car owner. It doesn’t matter if you are an excellent...
Read more
Transferring Car Insurance from One Person to Another
An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance...
Read more