Mahindra & Mahindra is an Indian automobile manufacturer headquartered in Mumbai, Maharashtra. The firm was founded in 1945 as Muhammad & Mahindra and was eventually changed to its current name. It is one of India’s leading vehicle manufacturers and the world’s largest tractor producer. The vehicle manufacturer is part of a bigger Mahindra conglomerate that operates in a range of other sectors. Mahindra now provides a wide range of SUVs, MUVs, and CUVs in the Indian market.
Overview Mahindra car insurance
Mahindra car insurance refers to automobile insurance policies that cover private cars as well as SUV or sports utility vehicles made by Mahindra & Mahindra Ltd., a subsidiary of the Mahindra Group. It insures a Mahindra vehicle against unforeseeable accidental damages or losses, third-party claims, and other dangers. Thus, Mahindra insurance is a car insurance coverage that protects vehicles produced by Mahindra & Mahindra, India’s largest utility vehicle manufacturer.
When you buy a Mahindra automobile, be sure you have insurance for it. Car insurance acts as a shield between the car and its owner-driver. The policyholder will have greater peace of mind knowing that he or she will be compensated for any damages to their car and, as a result, will be financially stable in times of crisis. Cars have become an essential part of our daily lives, but they are also a costly investment. As a result, it is critical to ensure that they are preserved. Your Mahindra automobile may be covered against road hazards such as accidents, vandalism, natural and man-made disasters with an own-damage insurance policy.
Furthermore, buying a third-party insurance is a compulsion by the Indian law. You might be fined Rs. 2,000 and/or imprisoned for up to three months if you do not have it. Third-party liabilities, such as personal injury, death, and property damage, will be covered by the insurance policy. The Insured Declared Value of the automobile determines the amount of your Mahindra car insurance premium. This is derived by subtracting the manufacturer’s selling price from the car’s depreciation rate based on its age. The IDV is the maximum amount of compensation that the insurance company will pay out to the policyholder in the event of an accident.
Reasons to buy Mahindra car insurance policy
It is a sensible option to purchase auto insurance for your Mahindra vehicle. Consider the following benefits of purchasing Mahindra insurance for your vehicle:
- Mahindra Car Security – You can safeguard your automobile against all types of dangers with the aid of a comprehensive Mahindra car insurance policy, whether they are your own or third-party obligations. Furthermore, it covers the owner-driver of the Mahindra vehicle for personal accidents.
- Mandatory by Law – Under Indian traffic rules, everyone who owns a Mahindra automobile is required to obtain at least third-party coverage for their vehicle. Vehicles that do not have a valid third-party vehicle insurance coverage are not permitted to operate on public roads.
- Cashless Garages – If you have a car insurance coverage for your Mahindra vehicle, you will be eligible to use the cashless garage. This is due to the fact that Mahindra Scorpio auto insurance includes a nationwide network of cashless garages where policyholders may get their Mahindra car fixed for free since the insurer will pay.
- Saves Money – A Mahindra insurance plan may be acquired at a cheaper cost since you can receive discounts on your premium amount, such as automotive association membership discounts, security device installation discounts, No Claim Bonus (NCB), and so on. As a result, you may be able to save a substantial amount of money.
- Instant Online Issuance – If you purchase Mahindra insurance online, you will receive your coverage relatively immediately. The procedure is really quick, and the insurance is activated as soon as you pay your policy payment online.
- Add-on Covers – For an extra cost, you may purchase a selection of add-on covers under Mahindra Bolero vehicle insurance to broaden the extent of your policy coverage. Some of the add-on covers offered are 0% depreciation on consumables, return to invoice, NCB protection, and so on.
Types of Mahindra car insurance
- Comprehensive Insurance – A comprehensive plan, as the name implies, offers complete coverage for the Mahindra automobile against any third-party liability claims as well as any own damage risks caused by catastrophes such as fire, accidents, natural calamities, man-made disasters, and so on.
- Third-Party Legal liability insurance – A third-party liability plan, on the other hand, protects against third-party unintentional claims stemming from inflicting property damage or physical harm to a third-party individual.
Mahindra car insurance Inclusion
Mahindra vehicle insurance protects your automobile or SUV from the following risks:
- Accidents – Mahindra will cover for any damages or losses caused by an accident to your Mahindra vehicle.
- Third-Party Obligations – If your Mahindra vehicle causes inadvertent third-party property damage or physical injury, your insurance will pay the liabilities on your behalf.
- Fire and Explosion – If your automobile is damaged as a consequence of a fire or explosion, your Mahindra insurance coverage will cover the costs.
- Calamities – Your insurance carrier will cover any loss or damage to your Mahindra vehicle caused by a natural or man-made disaster. Natural disasters include floods, earthquakes, and cyclones, while man-made disasters include riots, terrorism, etc.
- Theft – In the sad event that your Mahindra automobile is stolen one day, the company will pay you for your damages.
- Personal Accident — A Mahindra vehicle insurance policy includes a personal accident protection that protects the owner-driver of the Mahindra automobile if he is injured while driving the car.
Mahindra car insurance Exclusion
Certain circumstances are not covered by Mahindra auto insurance. Look at this:
- Depreciation – It does not cover any losses sustained by the policyholder as a result of the depreciation of his Mahindra vehicle’s value.
- Unauthorized Driving – Driving without a valid driving license is against the law in India. As a result, if you are discovered driving a Mahindra car without a valid driver’s license, your insurance provider will not compensate you for your losses.
- Electrical & Mechanical Breakdown – This insurance does not cover any loss or damage to your Mahindra vehicle caused by an electrical or mechanical breakdown.
- Drunk Driving – Drunk driving is also prohibited in India. As a result, if you are caught driving your Mahindra automobile while intoxicated, the company will deny your claim.
Mahindra car insurance Additional Cover
Mahindra insurance has a number of add-ons covers that you can get by paying an additional premium amount to expand the coverage of your policy. The following is a list of add-on covers that are available with Mahindra vehicle insurance:
- Zero Depreciation Coverage — With this coverage, you will be able to make a claim without having to subtract the depreciation value of your Mahindra vehicle. It allows you to obtain the whole IDV value without taking depreciation into account.
- Immediate Help Coverage — With this add-on cover, you will be able to get emergency roadside assistance if your Mahindra vehicle experiences a technical or mechanical breakdown while on the road. Some of the services provided include flat tyre replacement, simple on-site repairs, battery jump-starting, towing, and aid with an empty fuel tank, among others.
- No Claim Bonus Protection – This is a fantastic add-on package. With this coverage, your NCB is covered even if you file a claim under your Mahindra insurance policy. Despite the claim, it retains your NCB % and advances it to the following slab.
- Return to Invoice — In the event of a complete damage claim, this coverage assures that you get an Insured Declared Value (IDV) equal to the invoice value of your Mahindra automobile. Without this add-on, you will get a claim amount equal to the car’s current market value, which will be less than the invoice price.
- Key Replacement Coverage – If you lose the keys to your Mahindra vehicle, this plan will allow you to obtain a replacement key in the most hassle-free way.
- Engine & Gear Box Protector – Under this coverage, any damages or losses sustained by your Mahindra car’s engine and gearbox would be covered. It also covers the cost of compression testing, labor, engine cylinder re-boring, and machine charges.
- Loss of Use/Downtime Protection – This coverage provides the policyholder with a cash allowance for daily transportation while his Mahindra vehicle is being repaired.
- Cost of Consumable Goods – As part of this coverage, the cost of any consumable items used in your automobile, such as nuts and bolts, is covered by your Mahindra car insurance.
How to Buy Mahindra car insurance policy online
The process of purchasing Mahindra insurance online is extremely simple. To get a Mahindra auto insurance coverage, follow the procedures outlined below:
- Sign in to the official website’s insurance page and navigate to pick ‘Car Insurance’ from the Motor Insurance section.
- You will see a form asking for information about your Mahindra vehicle.
- Enter the necessary information, such as the Mahindra automobile model, year of registration, RTO details, and city.
- Provide your contact information, such as your email address and phone number.
- You will be able to compare the costs of several Mahindra insurance options.
- Choose a plan that you want to purchase and accordingly select any add-on coverage of your liking.
- Online, you may pay your insurance’s final premium.
- Your Mahindra auto insurance policy will be delivered to you.
How to renew Mahindra car insurance
When done online, renewing Mahindra auto insurance is a quick, simple, and painless procedure. Every Mahindra automobile owner should renew their car insurance policy before the due date of expiry every year to continue enjoying the coverage of a car insurance policy. As a result, it is critical to remember the expiry date of your plan and renew your coverage before it expires in order to keep your Mahindra automobile protected and secure. To renew your vehicle insurance coverage online, follow the procedures outlined below:
Step 1: Go to the Mahindra insurance’s official website. Select the ‘Car Insurance’ tab.
Step 2: Enter your Mahindra vehicle’s registration number and click the ‘Proceed’ button. To proceed, select your Mahindra car’s version and fuel type. If you do not know your Mahindra automobile’s registration number, pick the ‘Don’t know your car number?’ option and enter your car’s brand, model, variation, fuel type, registration city, registration year, and so on to proceed.
Step 3: Enter the expiration date of your previous auto insurance policy as well as the name of your insurance provider. In addition, you must reveal whether or not you filed a claim under your auto insurance during the preceding policy year, and then click on the ‘Continue’ link to proceed.
Step 4: Enter your personal information, including your name, phone number, and the term for which you want to purchase a vehicle insurance policy, and then click the ‘Submit and Get Quotes’ button.
Step 5: Various vehicle insurance policy premium quotes from various car insurance companies will be displayed to you. After comparing auto insurance quotes based on your needs and budget, select one. At this point, you may also select some add-on covers of your choosing.
Step 6: Review all of your information and then click the ‘Buy Now’ option to begin the payment procedure to renew your Mahindra auto insurance plan. You can pay for the renewal using a debit or credit card, digital wallets, or net banking. After you have successfully completed the payment for the renewal of your auto insurance, the policy document will be emailed to the email address you have registered with.
Claim process for Mahindra car insurance
The cashless car insurance policy is an option that allows you to have your Mahindra car repaired at an authorized or network garage of your insurance company without having to pay anything because the insurer is entitled to pay for the car repair bill on your behalf after analyzing and checking the repair invoice and relevant documents. To use this cashless auto insurance option, you must notify your insurance carrier of the incident or accident as soon as possible in order to begin the procedure.
Cashless automobile insurance frees policyholders from having to make a large repair payment for their car after being involved in an accident or disaster. When opposed to the reimbursement claim method, the cashless vehicle insurance procedure requires fewer paperwork to be filed and fewer formalities to be completed. Cashless automobile insurance is also a speedier procedure since the insurer sends a surveyor to the scene or garage soon after a disaster, which speeds up the process because the insurance company covers the claim based on the surveyor’s report. Furthermore, the cashless insurance option requires you to get your automobile fixed at the best service centers because only the top workshops are authorized by insurance companies as network garages.
The following is the procedure for both cashless and reimbursement claims:
Claims for Reimbursement:
- First, notify the insurance company of the occurrence.
- Your insurance will dispatch a surveyor to assess the vehicle’s damages and losses.
- Repair the vehicle in a non-network garage.
- Pay the repair fee when it has been fixed.
- Fill out the claim form and include it with your other papers.
- The claim will be processed by the insurance, and you will be reimbursed.
- Notify the insurance company as soon as possible of the accident.
- A surveyor will come to your home to evaluate all of the damages to your Mahindra vehicle.
- Bring your car to the nearest network garage.
- Fill out the claim form and submit it with the necessary documentation.
- The vehicle will be fixed, and you will be notified when it is available for pickup.
- The claim fee will be paid to the network garage immediately.
Q1. How long does it take to renew a Mahindra car insurance?
Ans – Your Mahindra auto insurance may be renewed in as little as 5 minutes of time.
Q2. Mahindra insurance available for used cars?
Ans – Yes. One can avail Mahindra auto insurance for both new and used vehicles.
Q3. What are the documents to be submitted to make a Reimbursement Claim?
Ans – When filing a refund claim, the following papers must be submitted:
a. Insurance claim form from Mahindra
b. Registration certification of your vehicle
c. Documentation for Mahindra’s insurance coverage
d. FIR Copies (in case of third party and theft claims)
e. A duplicate of your driver’s license
f. Invoices for repairs and payments
Q4. Is it absolutely necessary to acquire a car insurance coverage for Mahindra vehicles?
Ans – Yes, according to the Indian Motor Tariff, every automobile owner is required to have at least a third-party car insurance coverage. Because the basic vehicle insurance plan provides limited coverage for policyholders, covering just third-party damages, you may choose an own-damage car insurance cover or a comprehensive car insurance plan for full protection of your Mahindra automobile.
Q5. What is the cost of a third-party auto insurance policy for Mahindra vehicles?
Ans – The Insurance Regulatory and Development Authority of India (IRDAI) sets the rate for third-party automobile insurance, which is the same for all insurance firms. However, because the rate for third party car insurance is impacted by the cubic capacity of the automobile, you can obtain third party car insurance by mentioning the engine cubic capacity of your Mahindra vehicle.
Q6. Can I get my NCB benefit from my prior vehicle insurance policy transferred to my new Mahindra auto insurance policy?
Ans – Yes, you can transfer your NCB benefit from your previous car insurance coverage to your new car insurance policy for your Mahindra car because the No Claim Bonus is paid for the car owner’s or policyholder’s responsible driving rather than the car itself.