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Maruti Insurance

Maruti Insurance Overview

Maruti Insurance Broking Private Limited, or more commonly known as Maruti Insurance, is the insurance arm of the Indian automobile major. The company provides insurance solutions for Maruti Suzuki car owners. The policies are provided by 11 insurance companies, including all public sector general insurance companies in India. Maruti Insurance acts as the broker for the products offered by these insurance companies. This insurance policy is unique to Maruti Insurance and no other vendor provides the same policy to car owners. In fact, even the 11 insurance companies do not provide the same policy to car owners who want to purchase an insurance product for their Maruti cars outside the Maruti Insurance umbrella.

Maruti Insurance Broking Private Limited was established in 2002 and has over 52 lakh customers, with total customers serviced until March 31, 2016, crossing 3 crore. It has collected a total premium of over Rs. 5,139 crore and settled over 12.7 lakh claims over the years. It has a pan-India presence across more than 450 cities and caters to all Maruti car insurance policyholders whether the plan is for commercial vehicle owners or private car owners. Maruti Insurance focuses on providing ‘complete peace of mind’ for its policyholders and has designed step-based procedures to take care of claims. It follows a five-step process that ensures customers do not have to worry about following up on claims.

Why to Insure Maruti Suzuki Car?

Maruti car insurance provides you with up to 100% of expense incurred for repairing your car that was damaged in an accident. The company authorized service centers are fully equipped with modern tools, advanced infrastructure, and skilled mechanics all over India. High-quality equipments, authentic spare parts, and versatile technicians add on to the service guarantee.

Maruti car insurance plans are prepared with utmost transparency and are easily available online. Approximately, 8 out of 10 people in India prefer to buy Maruti cars, and therefore, opt for Maruti car insurance online.

List of Maruti Suzuki Car Models

Maruti Suzuki India Limited is an Indian subsidiary of Suzuki, a Japanese car and motorcycle manufacturer. As per November 2012, the company had a market share of 50% in the passenger market. Maruti Suzuki manufactures a range of vehicles from hatchbacks to premium SUVs. It produces cars, such as Alto, Swift, Swift Dzire, Ciaz, S-Cross and Grand Vitara, which are very popular in the country.

Maruti Suzuki’s first plant was installed at Gurgaon, Delhi/NCR, in 1982 and now has two art of the facilities plant, including its Manesar plant. It is the most trusted and popular brand in the country with over 933 dealers across the country. Check below Maruti Suzuki cars to decide your car insurance:

Maruti Suzuki Alto 800:

Maruti Suzuki Alto is in its eighth generation and is one of the best selling cars in Indian market. Alto 800 is powered by 800 cc engine with excellent efficiency and suitable for Indian roads.

Maruti Suzuki ALTO 800 LX (796cc) Petrol version

Insurer

IDV

Cost of Zero Depreciation

Roadside Assistance

Premium

New India Assurance

Rs. 2, 24,518

Rs. 1, 033

N/A

Rs. 6516

Reliance General Insurance

Rs. 2, 54,399

Rs. 1, 463

Free

Rs. 7, 053

Future Generali

Rs. 2, 49,033

N/A

N/A

Rs. 8, 299

Iffco Tokio General Insurance

Rs. 2, 23,955

N/A

N/A

Rs. 9, 727

HDFC ERGO General Insurance

Rs. 2, 56,268

Rs. 1, 473

Rs. 403

Rs. 10, 774


Maruti Suzuki Celerio

The dimension of the car is 3600 mm (length)* 1600 mm (width) * 1560 mm (height) and wheelbase is 2425 mm. It is embellished with front fog lamps and alloy wheels.

Maruti Suzuki Celerio LXI (998cc) Petrol version

Insurer

IDV

Cost of Zero Depreciation

Roadside Assistance

Premium

New India Assurance

Rs. 3, 05,719

Rs. 1, 406

N/A

Rs. 7, 916

Reliance General Insurance

Rs. 3, 50,332

Rs. 3, 093

Free

Rs. 11, 927

Bajaj Allianz

Rs. 3, 61,857

N/A

Rs. 3, 093

Rs. 11, 707

Iffco Tokio General Insurance

Rs. 3, 03,960

N/A

N/A

Rs. 10, 676

HDFC ERGO General Insurance

Rs. 3, 31,480

Rs. 1, 906

Rs. 402

Rs. 9, 634


Maruti Suzuki Swift Dzire

Maruti Suzuki Dzire embodies new technology and presents a host of new features inside the car, making you drive more comfortably. Driving experience is enhanced by features, such as integrated music system and Bluetooth.

Maruti Suzuki Swift Dzire LXI (1298cc) Petrol version

Insurer

IDV

Cost of Zero Depreciation

Roadside Assistance

Premium

New India Assurance

Rs. 3, 94,073

Rs. 1, 813

N/A

Rs. 10, 127

Reliance General Insurance

Rs. 4, 44,254

Rs. 5, 109

Free

Rs. 11, 073

Bharti AXA

Rs. 2, 79,340

Rs. 1, 221

Rs. 431

Rs. 9, 600

Iffco Tokio General Insurance

Rs. 3, 73,405

N/A

N/A

Rs. 12, 556

HDFC ERGO General Insurance

Rs. 4, 40,949

Rs. 2, 536

Rs. 402

Rs. 12, 678


Maruti Suzuki EECO

The car’s design is simple and is based on shoe pack design. It carries a simple, which is bold yet elegant. The body shape is unique along with body graphics gives it a balanced look. The vehicle has clear lens head lamps and tail lamps providing for better visibility during the night.

Maruti Suzuki Ertiga

Maruti Suzuki Ertiga is tagged as a complete family car and is different in looks with the other cars in the same segment. The car’s interior provides a sense of class, as it is embellished with premium upholstery and other utilities like armrest for comfort.

Maruti Suzuki Grand Vitara

Grand Vitara is a sports utility vehicle (SUV) manufactured by Maruti Suzuki. It is powered by 2493 cc engine generating power of 163 bhp.

Maruti Suzuki Gypsy

Maruti Suzuki Gypsy is a four-wheel drive capable of taking on challenges provided by every terrain. Maruti Suzuki offers this vehicle in two variants with one engine, one transmission, and one fuel option.

Maruti Suzuki Ritz

Maruti Suzuki Ritz is fully loaded with new features with advance technology. It is embedded with most features in the segment, such as driver seat adjuster and tilt steering. High driving position and seat height adjuster help in all around visibility, which helps in riding comfortably.

Maruti Suzuki Ritz LXI (1197cc) Petrol version

Insurer

IDV

Cost of Zero Depreciation

Roadside Assistance

Premium

New India Assurance

Rs. 3, 43,683

Rs. 1, 581

N/A

Rs. 9, 176

Reliance General Insurance

Rs. 3, 71,108

Rs. 4, 268

Free

Rs. 13, 897

Bharti AXA

Rs. 2, 43,457

Rs. 1, 120

Rs. 431

Rs. 9, 179

Iffco Tokio General Insurance

Rs. 3, 49,095

N/A

N/A

Rs. 12, 572

HDFC ERGO General Insurance

Rs. 3, 83,015

Rs. 2, 202

Rs. 402

Rs. 12, 088


Maruti Suzuki Swift

The car was launched in the year 2005 and has now retained the tag of market leader since the first day. The stylish front grill, chrome finished logo and fog lamps, large headlamps and side mirrors with integrated blinkers add charisma to the design of the vehicle.

Maruti Wagon R

The car is based on LXI and LXI CNG variants of the automobile yet embellished with new features like 2 din stereo with Bluetooth, dual-tone dashboard, beige inserts, and rear seat power windows.

Maruti Suzuki CIAZ

Maruti Suzuki Ciaz is based on the European design and there is no resemblance of its design with any of the other cars manufactured by the automaker. At the front, there is a rectangular grille finished in chrome with company’s logo in the center.

Maruti Suzuki Ciaz AT VXI PLUS (1373cc) Petrol version

Insurer

IDV

Cost of Zero Depreciation

Roadside Assistance

Premium

New India Assurance

Rs. 7, 02,596

Rs. 3, 232

N/A

Rs. 15, 952

Reliance General Insurance

Rs. 7, 63,251

Rs. 4, 389

Free

Rs. 17, 096

Bharti AXA

Rs. 6, 01,453

Rs. 2, 628

Rs. 431

Rs. 14, 099

Iffco Tokio General Insurance

Rs. 6, 09,705

N/A

N/A

Rs. 18, 801

HDFC ERGO General Insurance

Rs. 7, 73,427

Rs. 4, 447

Rs. 402

Rs. 18, 751

Benefits of Maruti Car Insurance

  • Unique one of a kind policy that is not available anywhere else
    fThe Maruti insurance plan is a unique car insurance policy and is not available anywhere else from any insurance provider. That means Maruti car owners will be able to subscribe to the policy only through Maruti Insurance. They will not be able to subscribe to the policy from anywhere else. In essence, what Maruti has done is that it has provided its policyholders a special type of cover that ensures they do not face any hassles while filing a claim. Maruti Insurance will ensure that their claim applications are processed on time and all repairs carried out with Maruti Genuine Parts and Accessories.

  • Ability to choose a policy from 11 insurance companies
    Maruti car insurance is available from 11 major general insurance companies. These include all the public insurance companies in India as well some of the largest private sector general insurance players. The public insurance companies include National Insurance, Oriental Insurance, The New India Assurance Company, and United India Insurance. The private partners include Bajaj Allianz, ICICI Lombard, Iffco Tokio General Insurance, L&T Insurance, Royal Sundaram, SBI General Insurance, and Universal Sompo General Insurance Company.

    Policyholders can opt for the insurance company they prefer and which has a better network in their place of domicile. They can purchase the policy directly from Maruti Car Insurance and choose their preferred insurance provider at the time of selecting the policy.

  • Pan India network of authorised repair centres
    Maruti Insurance offers its policyholders the pan-India workshops of Maruti Suzuki to repair their cars after a breakdown or an accident. The vast Maruti network ensures car owners do not have to worry about their car repair anywhere they are in the country. They can take it to any authorised workshop and will receive all the necessary services. Trained technicians will use the prescribed procedures and authorised parts and accessories to get the car back into pristine condition within the specified time. The seamless services will be offered whether the car owner is in his or her home branch or somewhere far away in a different part of the country.

  • Available for all Maruti Suzuki cars
    The Maruti insurance policy is available for all Maruti cars – whether private or commercial provided they are less than 10 years old at the time of first buying the first policy. The policy can be renewed by all car owners even if the vehicle is more than 10 years old provided the first policy was bought before the car crossed 10 years and this policy has been in continuance ever since. This means that if you have a Maruti car that is aged 10 years or more and you had bought the policy in an earlier year and had kept renewing the plan without any break, then you can continue renewing the Maruti insurance plan for any number of years. Alternatively, if you had a Maruti car insurance policy in an earlier year but had opted for a different insurance company thereafter, then you cannot buy a new Maruti insurance policy after 10 years have passed.

  • Near cashless repairs at any authorised service centre
    Maruti car insurance offers near cashless repairs for its policyholders. The car owners only have to pay for compulsory excess and depreciation, while the rest of the costs are borne by the insurance company and settled directly between the workshop and the insurer under the aegis of Maruti Insurance. The policies come with various options and riders such as zero depreciation, cover for excess towing, consumables, etc. which means that the policyholder only pays a very minimal amount of money when they get their car repaired. The cashless repairs are available at all authorised service centres or Maruti Suzuki workshops.

  • A fair and transparent claim settlement process with no hidden charges
    The Maruti car insurance claim settlement process provides all information on costs to the client. For instance, all parts are categorised in their respective categories and customers do not have to fork out unnecessary costs. Let us understand this with the help of an example. Suppose your car is being repaired and certain old wires and parts are being replaced with new ones. The bill for the final repair should give you a discount for the salvage value of these parts and also provide you adequate relief from the depreciated value of the parts replaced. In most cases, this is not done but in the case of Maruti car insurance, all such details are made fully available to the customer. The company has a prescribed format for depreciation and allocates a depreciation value of 50% only to parts of cars that are over 10 years old.

    In addition, there are no hidden charges. The company does not charge any claim filing or processing charges, which further makes its policies lower in costs for the range of features provided.

Maruti Car Insurance Renewal

We, at PolicyBazaar, believe that your car is the best and one of the most precious things you can ever purchase. We allow you to compare multiple car insurance plans online in simple and easy steps when you need to renew it. Our website provides you with car insurance plans by various renowned general insurance companies in the country. You can compare them all on the basis of multiple features like IDV, No Claim Bonus, Roadside assistance, and the Premium. Based on the comparison, you can choose the best Maruti car insurance coverage.

Maruti Car Insurance Premium Calculator

Purchasing Maruti Suzuki car insurance online provides you with the assured assistance in the events like theft or accidental damages to your car. In exchange for that, you pay an annual premium to your insurer to make sure the coverage remains in force. How do you think is the premium calculated? There are so many factors based on which your car insurance premium is calculated. The IDV of your car is one of those factors.

While purchasing a new or renewing an existing car insurance policy, you might want to calculate your premium. We, at PolicyBazaar, provide you with Maruti car insurance premiums online to help you with your decision of Maruti Suzuki car insurance renewal.

Five step systems and procedures of Maruti Insurance

1. Maruti car insurance offers a five-step process that ensures your car is repaired on time and delivered to you. These processes include:
2. Intimation of claim and approximate estimation of expenses
3. Appointment of a surveyor by the insurance company and filing of the loss assessment report after inspection of damages
Commencement of repairs after the approvals have been received from the insurance company
4. Re-inspection of the vehicle after the repairs are done and handover to the customer
5. Settlement of claim by the insurance company with the workshop

All the processes have to meet a specific timeline. This schedule is already mandated by Maruti Insurance Broking Private Limited and helps car owners to get back their vehicles on time without having to wait unnecessarily for long periods of time.

How to Buy Maruti Car Insurance

PolicyBazaar is the best platform available online when it comes to buying Maruti Suzuki car insurance. It provides you with a range of car insurance plans with the comprehensive details of each plan. Being an IRDA approved insurance web aggregator, PolicyBazaar provides you with the simplest way to buying Maruti Car insurance online. Follow the steps mentioned below to buy a new policy:

Provide Your Car’s Details

  1. Log on to www.policybazaar.com and click Car on the homepage.
  2. Enter the registration number of your car and click Continue.

Get Insurance Quotes

  1. Select New Car Policy as the Policy Type
  2. Enter the City of Registration and provide other details of your car
  3. Click View Quotes

Provide Your Personal Details

  1. Enter your Full Name, Email Address, and Mobile Number
  2. Accept the agreement and click View Quotes

Buy the Best Policy

  1. View the quotes offered by various insurers and explore the given details.
  2. Proceed to make the payment through your Debit/Credit Card or Internet Banking.

Note: You will receive the policy document on your registered email ID within a few minutes after the successful payment.

Type of car insurance you should opt for your Maruti Suzuki Car

Car insurance can be segmented into different categories based on type, coverage, etc. In essence, insurance companies bifurcate car insurance into two types: liability only policy (also called third party insurance) and comprehensive cover. Indian Motor Vehicles Act mandates car owners to have a liability only policy at least for their vehicles. Let us look at these two types of policies in detail:

Third party insurance

This form of insurance provides coverage against any risks from third party liabilities in case the car was involved in a mishap where the third party or his/her collaterals suffered any damage. The third party liability must arise under a legal proceeding where an appointed tribunal has mandated the amount of liability that needs to be paid to the third party by the insurance company (the second party) on behalf of the insured (the first party).

Third party insurance is limited, even in policies where there is no limit, to Rs. 7.5 lakh. This means any liability arising beyond this amount will have to be paid by the policyholder himself/herself. The liability in such policies arises only when the said third party has filed a claim against the insured in a tribunal at the place of the mishap.

There are different forms of third party liability plans. The basic plans cover the owner of the car against risks, while other options also insure the co-passenger, and additional passengers. People can choose the basic plan or opt for a better cover by paying a higher premium. Most policies also have a personal accident cover for the owner, and protect him from losses arising due to an accident.

Maruti car Insurance does not provide third party liability policies.

Comprehensive insurance

This type of insurance, also called package insurance, provides a comprehensive cover against third party liabilities, damages to the vehicle, and personal accident. The cover can be extended through riders or otherwise to insure against various risks. Some popular riders and additional cover options include personal accident riders, zero depreciation, loss of personal belongings, engine cover, additional towing assistance and so on.

These policies are supposed to be better than third party policies as they guard against all possible risks or costs that may arise from a mishap, and allow the person to drive without any worries.

Comprehensive Cover Inclusions

  • Loss from natural calamities or natural events such as earthquakes, storms, tempests, typhoons, hurricanes, hailstorms, floods or inundations, and landslides or rockslides
  • Damages caused by fires, explosions, self-ignitions or lightening
  • Loss from man-made events such as terrorist acts, riots and strikes, malicious acts, burglaries, thefts and house breaks
  • Damage suffered in transit by road, rail, inland waterway, lift, elevator or air
  • Personal accident cover up to a specific sum and which can include passengers
  • Legal liability from third party injuries or damage to third party property

Comprehensive Cover Exclusions

  • Regular wear and tear suffered due to normal running or age of the car
  • Loss from depreciation or any consequential losses
  • Damages due to mechanical or electrical problems
  • Regular wear and tear of consumables such as tyres, tubes, oils, etc.
  • Damages suffered because the car was being used for reasons for which it was not built
  • Losses suffered if the driver does not have a valid license or is driving under influence of drugs or alcohol
  • Losses or damages suffered due to war, mutiny or nuclear risk

Maruti Insurance FAQs

1. Is it necessary to purchase Maruti Car insurance?

Every car plying on the road must have third-party liability only cover at the very least, as per Motor Vehicle Act, 1988.

2. What types of cars are covered under Maruti Car Insurance?

Any Maruti car not more than 10 years old can be covered.

3. Where can I get Maruti Car insurance?

Maruti Car insurance is available only at Maruti Insurance Broking Pvt. Ltd. You can insure your car at PolicyBazaar.com