General Insurance · intermediate
Motor Insurance
How motor insurance works in India: the types of policy, how the insured value and no-claim bonus are worked out, own-damage and total-loss claims, third-party claims before the tribunal, fraud, and how disputes are resolved.
- 01Types of Motor Policies (TP, Comprehensive, OD, Add-ons)The three forms of motor cover in India — compulsory third-party liability, standalone own damage and the package policy combining them — plus the owner-driver personal accident cover, the compulsory deductible, third-party limits and what add-ons change.
- 02IDV Explained with Calculation ExamplesWhat Insured Declared Value is, how it is worked out from the manufacturer's listed selling price and the vehicle's age, how accessories and CNG kits are treated, and what a higher or lower IDV actually changes.
- 03NCB Calculation & Transfer RulesHow No Claim Bonus rewards claim-free years with a discount on the own-damage premium: the 20% to 50% scale, the effect of a claim, the 90-day renewal window, and how the bonus moves to a new vehicle or insurer.
- 04Claim Settlement (Partial Loss)How a repairable own-damage claim is settled: what counts as a partial loss, depreciation on replaced parts, deductibles, the cashless route, when a licensed surveyor is required and the claim timelines in force today.
- 05Total Loss & Constructive Total LossWhen a vehicle is treated as a total loss or constructive total loss, how the IDV-based settlement works, what happens to the wreck and to an outstanding loan, and where theft claims and Return to Invoice fit in.
- 06Motor Accident Claims Tribunal (MACT)What the Motor Accident Claims Tribunal is, who can apply to it, the fixed no-fault compensation under section 164, how fault-based awards use a multiplier, and how far the third-party insurer must pay.
- 07Common Motor Insurance FraudsWhat counts as motor insurance fraud, the forms it commonly takes at the claim stage, how insurers detect it, and the legal and professional consequences for policyholders, garages and intermediaries.
- 08Disputes: Arbitration, Ombudsman & GrievancesWhere a motor policyholder can take a claim dispute today — the insurer's grievance officer, Bima Bharosa, the Insurance Ombudsman and the consumer commissions — and why arbitration, once a standard clause, no longer features in retail policies.