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Car Insurance


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Travel Insurance
Why buy insurance?
A motor insurance is purchased for cars, trucks, motorcycles and commercial road vehicles. It is an agreement between the insurer and insured, wherein insurer agrees to give financial coverage to the vehicle and the insured in return agrees to pay premium annually.
What are the types of general insurance?
General Insurance is an umbrella term which can be further segmented into- motor, home, travel, health and commercial insurance.
What is the policy term in general insurance?
General insurance are non-life insurance policies which in general have a policy term of one year and have to be renewed at the end of every year.
What is policy premium?
Premium is a fixed amount paid by the insured over the policy term to the insurance company to get insurance cover and access policy benefits.
What is deductible?
Deductible is the excess amount, which the insured has to bear in case of a claim. The deductible is first, deducted from the total assessed payable claims amount before determining insurance company's liability.
What is free look-in period?
Free look-in period is a 15-day period (or as given by the company) from the date of policy purchase given to the insured to revisit his purchase decision. The insured enjoys all policy benefits during this period, and if not satisfied, he/she can receive a full refund for it.
How can I receive an instant insurance quotation on Policyfy?
To get an instant quote visit the insurance webpage you want to buy. On the top of the page you will find “Ready for instant quote?” enter the details in the fields under it and click “submit” button to get an instant quote.
How to I buy an insurance policy on Policyfy?
To buy an insurance policy, you will first have to get an instant quote by keying in certain details. Upon clicking the “submit” button you will be redirected to a webpage wherein you will be provided with insurance policy options specially curated for you based upon the information provided by you.
How will I receive my policy documents?
Our partner insurance companies send policy documents to customers online as well as through post. Your policy document will be mailed to you soon after you make the purchase. Policy document sent by post is normally dispatched the next working day and can take a few days to arrive. In case you haven't received your policy documents, you can get in touch with the insurance company directly.
How do I file a claim? And what are the documents that are required for filing a claim?
To file a claim you will need to get in touch with your respective insurance provider. For the list of claim documents, you can visit the claims assistance section on Policyfy.
What is car insurance?
Car Insurance covers vehicles like cars, two wheelers, trucks, and other vehicles, against damage or loss resulting from accident or theft.
When do you need commercial car insurance?
You need commercial auto insurance if you use your vehicle for work or own vehicles operated by a business.
Is it mandatory to have car insurance in India?
Yes, having an active car insurance policy is mandatory in India; in that regard, third-party insurance is a statutory requirement as stated in the Motor Vehicles Act, 1988.
Can I get insurance for my used car on Policyfy?
Yes. Policyfy offers car insurance for both new and used cars in collaboration with its partner insurance companies.
What are the different kinds of car insurance available in India?
There are two types of car insurance available in India-
  • Third-party policy (covering only third party liability)
  • Comprehensive policy (covering both personal and third-party liability)
Do I need to renew my car insurance every year?
Yes. Car insurance policies are usually offered for one year.
Which cover do I buy- third-party or comprehensive one?
Third-party car insurance is mandatory as per the law. You can buy car insurance as per your requirements. However, it is advisable to buy comprehensive cover as it protects you and your car against accidental damages and losses.
What happens to the NCB of my car if I switch my insurer?
You can make use of NCB only when you switch your insurer at the end of the policy term. Insurance provider gives a proof of your bonus at the end of your policy term. This proof can be passed on to your next provider when you switch.
What are the riders available with car insurance?
Many add-on covers are available with car insurance to extend the policy coverage. The common riders are as follows-
  • Personal accident rider
  • Zero depreciation cover
  • Roadside assistance & towing
  • Ambulance & medical expenses rider
  • Rental replacement cover
  • Engine cover
What is IDV in a car insurance policy?
IDV stands for the Insured Declared Value, and in the simplest of words, it is the current market value of your vehicle. IDV of a vehicle is the selling price of a specific car model minus depreciation, which is calculated based on the age of the vehicle.
What are the factors which determine the cost of my motorbike insurance policy?
Insurance companies take into consideration a number of factors when calculating your bike premium, including your age, riding history, the type of motorbike, your address, the level of security, etc.
Should I consider additional coverage with my motorbike insurance?
To start with, understand what your requirements are and then check to see what your standard policy already covers. However, you may want to consider add-ons, such as breakdown cover, personal accident cover, towing assistance, etc.
What should I do if my bike insurance policy has already expired?
In case your bike insurance has expired, you need to contact your insurer to get details about renewal. The company will send an authorized surveyor to inspect your bike and you can renew your policy online.
Can I renew my bike insurance online?
Yes. You can renew your bike insurance online by visiting the website of the insurer or through Policyfy, and get yourself a new policy within minutes without any hassles.
Is the pillion passenger covered under the comprehensive two-wheeler policy?
No. But you can cover your co-rider through an additional Personal Accident Cover for pillion passenger.
How much claim amount will I get in case of theft of my bike?
In case of theft, you will receive the IDV amount as the claim. As IDV is calculated according to the vehicle age, geographical location, and engine capacity, hence higher the IDV, higher is the premium.
What are the additional covers available in bike insurance?
You can buy add-on covers on payment of additional premium. The additional covers available in bike insurance include-
  • Zero depreciation cover
  • Personal accident cover for pillion passenger
  • Accessories cover
What documents are required to file a claim in Two Wheeler policy?
In case of a two wheeler claim, you need to provide the following documents-
  • Claim form filled and duly signed
  • Valid vehicle RC copy
  • Valid driving license copy
  • Policy copy
  • FIR, if required
  • Original repair bill, proof of release and cash receipt
  • Any other document as required by the insurer
How to register a Motor Claim?
Claim can be registered by contacting the insurer on toll free number OR send SMS OR E-Mail, as provided on the insurer website.
When do I need to register a claim?
All claims should be reported on immediate basis or as soon as possible after the incident/accident.
Why do I need health insurance?
Health insurance protects you and your family against any financial consequences arising due to a medical emergency. Buying a health plan with a good cover can help save your savings and other assets.
What is the maximum number of claims allowed in a year?
While there is no restriction on the number of claims in a health insurance policy, the sum insured of the policy is the maximum limit for the covered medical expenses.
Is there a health insurance plan which covers existing disease also?
Normally, health plans exclude any preexisting disease or condition. But, they can be covered after a period of time, known as waiting period.
How can I file a health insurance claim?

You can file for health insurance claim in two ways-


1.Cashless Claim


In cashless claim, you will have to undertake medical treatment at a hospital in the network of the insurer. The insurer will directly settle your medical bills with the hospital and you will have to pay only the deductible or amount which is excess.


Reimbursement Claim


In reimbursement claim you usually undertake medical treatment at a hospital which does not fall under the network of the insurer. You will have to pay your medical bills out of your pocket and file for a claim later on.

I have life insurance; do I need health insurance as well?
Considering the rising healthcare costs, a health insurance cover is a must have. A health insurance plan covers you against the costs of treatment. While life insurance either offers benefit on death or maturity benefit. Hence to cover yourself against sudden medical costs you need to have a health insurance plan in place.
What are the key factors that determine health insurance premium?
The key factors that will determine health insurance premium are-
  • Sum insured amount
  • Age of the insured
  • Number of the insured members
  • Pre-existing disease
  • Add-on covers (optional)
What is a "network hospital"?
Network hospital includes hospitals or nursing homes which fall under the network of your insurance provider. You can avail cashless facility at a network hospital. You can check the list of network hospitals on your insurer’s website.
What is pre-authorization form?
In order to avail cashless service at a network hospital you will have to fill in the “Pre authorization Form” and fax it to your insurance company, after being duly signed by the attending doctor. This form is available at the insurance helpdesk/cashless counter in the hospital.
How many types of health insurance policies are available?
Health insurance can be of following types-
  • Individual cover
  • Family floater
  • Group cover
  • Senior citizen insurance
  • Critical illness cover
  • Personal accident cover
  • Preexisting disease cover
  • Maternity cover
What are the benefits of a health insurance plan?
The common benefits of health insurance are as follows-
  • Pre and post hospitalization expenses
  • Domiciliary care and organ donor expenses
  • Ambulance fee
  • Cost of medical checkups
  • Tax benefits under section 80 D of the Income Tax Act
I have different travel plans throughout the year. How do I decide on a travel insurance policy?
Here at Policyfy, we offer you a range of travel insurance plans in collaboration with top travel insurance providers in the country, to suit all your travel needs. You can compare the policies and make the best choice.
Is there any minimum period for a trip to be insured?
You can find a range of travel insurance plans on Policyfy to meet all your travel requirements. Just key in your travel details to get the best quote.
Is travel insurance mandatory?
No. Travel insurance is not mandatory. However, to ensure a safe and hassle-free trip it is advisable to buy a travel insurance plan as per your travel needs.
Does travel insurance cover any pre-existing diseases?
No. Any claim arising due to pre-existing medical condition/ailment (declared or undeclared) will not be covered under travel insurance.
What are the different types of travel insurance?
The common types of travel insurance are-
  • Single or multiple trips
  • Individual or family
  • Student
  • Senior citizen
What does travel insurance cover?
Travel insurance covers various travel related aspects such as trip cancellation or interruption or delay, lost or delayed baggage, personal liability, emergency medical cover, medical evacuation, loss of passport, etc.
When does the travel coverage start?
Travel cover will begin on the day specified in the policy schedule or the time you board the conveyance to leave for your journey.
Can I cancel my travel policy midway?
In order to avail cashless service at a network hospital you will have to fill in the “Pre authorization Form” and fax it to your insurance company, after being duly signed by the attending doctor. This form is available at the insurance helpdesk/cashless counter in the hospital.
In case of medical treatment, is there any need for any pre-approval before getting hospitalized?
Yes. Contact your insurance company to initiate a cashless claim for the medical treatment.