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Private Car Insurance

Private Car Package policy

Your vehicle is more than just a mode of transport. It represents your personality; it shows who you are and hence, is a highly cherished possession. Your vehicle is not only a utility, it is also a possession of pride. And in this age with the fast pace of life trying to overtake us every day, it is impossible to imagine living without conveyance. Be it a small market visit or the daily commutes to work, to parties and get-togethers, vehicles are an irreplaceable part of life. We work hard for it, and we pay a lot for it, and we care for it with complete devotion.

But as much as you love your vehicle, you cannot predict or avoid an unfortunate circumstances like damage or loss. It is an inevitable part of ownership, even if you are the most careful person; you cannot vouch for everyone on the road. Such incidents generally also involve a lot of expenditure towards restoration or repair altogether. It has been said many a times: better safe than sorry; and you can be truly prepared for such eventualities with the right Car insurance with the Liberty Videocon Private Car package Policy by your side.

Our motor insurance policy will provide you with a comprehensive coverage that not only covers your car against the mandatory third party liability, but also against the losses caused to your car due to fire, theft, explosion, burglary, riots, strikes, earthquakes, flood, cyclones, accidents, malicious acts as well as terrorist activities.

Features & Benefits

Why buy car insurance from Liberty Videocon? Well, there are a number of key benefits of buying a Liberty Videocon Private Car Insurance Policy, and here are some of the prominent Car insurance details:

  • Hassle-free inspection & cashless claim service at more than 1900 network garages.
  • Claim settlement within 7 working days.​
  • Transfer existing No Claim Bonus from any insurance provider.
  • Avail of additional protection & convenience through different add on covers.
  • Swift telephonic service for effective claims support & assistance even on Sundays & holidays, all available on a toll free number.​

Coverage

WHAT DOES THIS PRIVATE CAR INSURANCE POLICY COVER?​

This vehicle insurance policy by Liberty Videocon provides cover for the following occurrences:

  • • Loss or damage to the vehicle due to:​
    • Accident
    • Fire
    • Lightning
    • Self-ignition
    • External explosion
    • Burglary
    • Housebreaking or theft
    • By accidental external means
    • Malicious act
    • Riot and strike
    • Terrorism
    • Earthquake, flood, landslide, rockslide, cyclone and inundation
    • Whilst in transit by rail, road, air, elevator, lift.
  • Personal accident cover in case of loss of limb or sight, disablement or death
  • Liability for third party injury or death and damage caused to their property
  • By paying an additional premium, one can opt for extra cover in case of:
    • Loss or damage to electrical and non-electrical accessories
    • Personal accident cover for the insured and any named or unnamed passenger(s)
    • ​Cover for lamps, tires/tubes, mudguards, bonnet etc. and paintwork of the damaged portion
    • Legal liability to person employed (paid driver /cleaners)
    • Legal liability to person employed travelling in the vehicle (other than driver/cleaner)
    • Indemnity granted to trailers
    • Legal Liability to Non-Fare Paying Passengers other than Statutory Liability except the Fatal Accidents Act, 1855

WHAT DOES THIS PRIVATE CAR INSURANCE POLICY NOT COVER?​

Some of the major exclusions under this vehicle insurance policy by Liberty Videocon are:

  • Consequential loss
  • Claims arising out of any contractual liability
  • Loss or damage covered under manufacturer ’s warranty or part of manufacturer ’s recall
  • Loss or damage to the engine and/or gear box due to delay in intimation to the insurer or delay in retrieval of insured vehicle from water clogged area.
  • Depreciation; wear and tear
  • Mechanical and Electrical breakdown; failure or breakage
  • When the vehicle is used outside the geographical area
  • When used contrary to limitations as to use
  • When driven by a person other than the driver stated in the driver’s clause
  • ​War perils, nuclear perils and drunken driving

What separates a good car insurance from an average one is not only the exhaustive nature of its core offering, but the number of value-add covers that come along with it. At Liberty Videocon General Insurance Company, it is our endeavor to offer you the best evolved benefits that give enhanced value additions that are over and above the basic car insurance policy. These 5 add on covers provide additional benefits to your basic car insurance, thereby adding to the comprehensiveness of your motor insurance:

Depreciation Cover

This cover promises a comprehensive coverage for your vehicle. This cover offers full claim without any deduction for depreciation on the value of parts replaced. If your car is damaged following a collision, for instance, and you file a claim under this car insurance, it will be covered for the entire cost.

Consumable Cover

This cover reimburses the cost of consumables, i.e. Items that are unfit for further use, arising out of damage to the damage to the insured vehicle or the accessories, caused by accidents or perils. Consumable items include grease, lubricants clip, air conditioner’s gas, bearings, engine oil, oil filter, fuel filter, break oil, nut and bolt, screw, washers etc.

GAP value cover

GAP insurance covers the difference between the actual declared value of a vehicle and the showroom cost of the same new car. Hence, it covers the vehicle at original 100% cost including road taxes that have been paid.

Passenger Assist Cover

This particular Add-on cover offers the insured with the following protection such as hospital allowance, medical expenses, and medical transport assistance. Reimbursement of medical charges for the passengers and driver are undertaken under this cover. It also entitles you to get the charges towards transportation of insured persons in Ambulance to the Hospital post suffering bodily injury caused by an accident while travelling in, embarking or disembarking from the insured vehicle.

Roadside Assistance cover​

This cover offers the road side assistance through an authorized vendor in case of breakdown of the insured vehicle, under these services, a customer can avail of road side assistance, which will include mechanical & accidental breakdown towing, on site repairs, fuel delivery, assistance in case of wrong fuelling, battery jumpstart, flat tyre change, locked and lost keys and a host of other road side emergency assistance services.​

FAQs

Policy Cover Related

What are the events and losses covered in this policy?

The insurance policy provides cover for the following occurrences:​

  • Loss or damage to the vehicle by:​
    • Accident
    • Fire
    • Lightning
    • Self-ignition
    • External explosion
    • Burglary
    • Housebreaking or theft
    • Malicious act
    • Riot and strike
    • Terrorism
    • Earthquake, flood, cyclone and inundation
    • Whilst in transit by rail, road, air, elevator, lift.
  • Liability for third party injury or death and damage caused to their property
  • By paying an additional premium, one can opt for extra cover in case of:
    • Loss or damage to electrical and non-electrical accessories
    • Personal accident cover for the insured and any named or unnamed passenger(s)
    • Legal liability to person employed (paid driver /cleaners)

What are the events and losses not covered in this policy?

WHAT DOES THIS CAR INSURANCE POLICY NOT COVER?​

Some of the major exclusions under the policy are:

  • Consequential loss
  • Depreciation; wear and tear
  • Mechanical and Electrical breakdown; failure or breakage
  • When the vehicle is used outside the geographical area
  • When used contrary to limitations as to use
  • When driven by a person other than the driver stated in the driver’s clause
  • ​War perils, nuclear perils and drunken driving

What is Third Party Liability Insurance? Is it covered in this policy?

Third Party Liability insurance covers losses to a third person who is not a party to the insurance contract. The Liberty Videocon Motor Third Party Insurance covers the following losses:

  • Any permanent injury/death to a person caused by your insured vehicle
  • Any damage caused to the property (excluding vehicle) of some other individual by your insured vehicle

liability is covered for an unlimited amount in respect to ​death. Any damage to third party property is covered up to Rs. 7.5 lakh in case of private c​ar.

What are electrical & non-electrical accessories? Are they covered under private car insurance?

Electrical accessories:

  • Any electrical and/or electronic equipment that is not factory-fitted with the vehicle can be covered under electrical accessories at an additional premium. The value of such accessories will be as declared by the insured at the invoice value.

Non-electrical accessories:

  • Any non-electrical/non-electronic equipment that is not ​factory-fitted with the vehicle can be covered under non-electrical accessories at an additional premium of invoice value (at Own Damage rate). The value of such accessories will be as declared by the insured at the invoice value.

What does the legal liability cover for a paid driver include?

A legal liability for paid driver implies that if you have hired a driver to drive your vehicle and he meets with an accident while driving it, then the insurance company will provide compensation for his injury/loss of life.

What is a Personal Accident Insurance cover?

​Personal Accident Insurance covers death or disability caused due an unfortunate accident. The Motor Insurance Policy essentially has a personal accident cover for the owner-driver, as per tariff, for which no extra premium is to be paid.

For a person other than the owner-driver, the personal accident cover has to be purchased separately by paying an additional premium. The amount paid as compensation depends upon the extent of cover opted for.​

Please refer the ​policy wordings for a detailed explanation.​

What is a depreciation cover?

A depreciation cover offers full claim without any deduction for depreciation on the value of parts replaced.

Please refer to the ​policy wordings for a detailed explanation.​

What is a consumables cover?

This cover reimburses the cost of consumables. The items covered under consumables include grease, lubricants clip, air condition, bearings, engine oil, oil filter, fuel filter, break oil, nut and bolt, screw, washers etc.

Please refer to the ​policy wordings for a detailed explanation.​

What is a GAP value?

GAP insurance covers the difference between the actual declared value of a vehicle and the showroom cost of the same new car. ​​​This cover is ideal for financed vehicles.

Please refer to the ​policy wordings for a detailed explanation.​

What is a passenger assist cover?

A passenger assist cover offers the insured with the protection of hospital allowance, medical expenses & medical transport assistance.​

Please refer to the ​policy wordings for a detailed explanation.​

What is a roadside assistance cover?

This cover offers road side assistance through an authorised vendor in case of breakdown of the insured vehicle. Under these services, a customer can avail of facilities like mechanical & accidental breakdown towing, on site repairs, fuel delivery, assistance in case of wrong fuelling, battery jumpstart, flat tyre change, locked and lost keys & host of other road side emergency assistances.

Please refer to the ​policy wordings for a detailed explanation.​

Policy Premium Related

What are the key factors that affect the premium amount?

The premium payable for your vehicle depends on the below factors:

  • Cubic capacity of the engine
  • Age of the vehicle
  • Geographical zone
  • Type of model
  • IDV (Insured Declared Value)

What is meant by IDV?

IDV means Insured's Declared Value. It is the current market value of your vehicle & is arrived at by adjusting the current manufacturer's listed selling price* of the vehicle with depreciation percentage listed in the table below: -

VEHICLE% OF DEPRECIATION
Not exceeding 6 months5%
Exceeding 6 months but not exceeding 1 year15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years50%

For car models that are obsolete and aged over 5 years, the IDV will be the value agreed between insurer and insured.

*Manufacturer's listed selling price = (cost price + local duties)/taxes, excluding registration and i​nsurance.​

What is No Claim Bonus (NCB)? Does it reduce my payable premium?

No Claim Bonus (NCB) is a discount on premium of the Own Damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. If you have NCB, you can avail a discount ranging from 20-50% on the Own Damage Premium. The NCB can be accumulated up to a maximum limit of 50% on OD premium.

You can transfer complete benefits of NCB, even when you shift your motor insurance to Liberty Videocon General Insurance from any other insurance company.

NCB benefits are given as per the below chart:​

All Types of Vehicles% of Discount on own Damage Premium
No claim made or pending during the preceeding full year of insurance20%
No claim made or pending during the pre​ceeding 2 consecutive year of insurance25%
No claim made or pending during the preceeding 3 consecutive year of insurance35%
No claim made or pending during the preceeding 4 consecutive year of insurance45%
No claim made or pending during the preceeding 5 consecutive year of insurance50%

Is my No Claim Bonus (NCB) transferable? Is there a specific rate?

Yes. In case you’re our customer, or are switching to Liberty Videocon General Insurance from any other insurance company, and have accrued some NCB from your previous insurer, you can get the same transferred. But this will be applicable only if the vehicle is insured within 90 days of your renewal due date. The same applies in case you decide to switch from Liberty Videocon General Insurance to any other insurance company.

The NCB is transferred at the same rate that you were entitled to get from the previous Insurance Company on renewal of your policy. However, we’ll need some documents from you that prove your entitlement to the NCB. The evidence can be in form of:

  • A renewal notice or
  • A letter confirming the NCB entitlement from the previous insurer

Kindly note that in case of a false NCB declaration, the policy will be subject to cancellation.​

Will I be eligible for any discounts if I am a member of the Automobile Association of India?

Yes, as a member of any of the following recognized Automobile Associations, a discount on Own Damage (OD) premium is given under the policy. The following Associations are recognised:

  • The Automobile Association of Eastern India
  • The Uttar Pradesh Automobile Association
  • The Western India Automobile Association
  • The Automobile Association of Southern India
  • The Automobile Association of Upper India

Is there any discount available if I install an anti-theft alarm and locking system?

If you have installed an Automobile Research Association of India (ARAI) approved anti-theft device in your vehicle, whose installation is dully certified by the agency, you can get a discount of 2.5% on the OD (Own Damage) premium subject to maximum of Rs. 500.​

What is voluntary excess?

Voluntary excess is an option where you choose to bear a certain amount of loss from every claim. For this option, you are eligible for a discount on Own Damage Premium (ODP) as listed in the table below:

VOLUNTARY DEDUCTIBLEDISCOUNT
Rs. 250020% on the OD Premium of the vehicle, subject to a maximum of Rs. 750/-
Rs. 500025% on the OD Premium of the vehicle, subject to a maximum of Rs. 1500/-
Rs. 750030% on the OD Premium of the vehicle, subject to a maximum of Rs. 2000/-
Rs. 1500035% on the OD Premium of the vehicle, subject to a maximum of Rs. 2500/-

What is compulsory excess?

Compulsory excess is the amount of loss that has to be borne out by the insured for each and every claim. It is levied as mentioned in the table below:-

TYPE OF VEHICLESCOMPULSORY DEDUCTIBLE
Private vehicles not exceeding 1500ccRs. 1000/-
Private vehicles exceeding 1500ccRs. 2000/-
Motorised two-wheelersRs. 100/-
Policy Claim Related

How should I lodge a motor insurance claim?

​In case of loss of or damage to the vehicle insured. ​You may lodge a claim with us by ​any of the following ways:

  • Call us at our Toll Free Number 1800 266 5844 (between 8:00am to 8:00pm, 7 days of the week)
  • Visit ou​r nearest branch office
  • Mail us on care@libertyvideocon.com
  • Send a written intimation letter to our registered office or the applicable branch office by post or courier. You can access our list of branch​ addresses by clicking here

What basic information is required to register a claim?

While registering a claim, please keep following documents / information handy:

  • Motor Insurance policy number
  • Name of Insured and contact details
  • Complete address where the loss or damage occurred
  • Complete address where the damaged vehicle is available for inspection
  • Registration number of the vehicle.
  • Name of the person who was driving vehicle at the time of damage and his driving license number ​OR in case of theft, name of the person in whose custody the vehicle was
  • Name of the police station to whom the loss or damage is notified
  • Your name, complete contact details and relationship with the Insured
  • Brief description as to how the loss of / damage to the vehicle took place
  • Name/s of person/s who sustained bodily injury/injuries and / or died in the mishap​
  • Estimated loss amount, if you are aware
  • Details of loss minimisation, if undertaken by insured

What are the documents required for processing a claim?

Following is the list of “Indicative Documents” which may be required while processing of a claim:

Documents RequiredAccidentTheft
Claim Form duly filled and signed by Insured
Copy of Registration Certificate (RC) with the original for verification (in case of total theft, original RC needs to be surrendered)
Copy of driving license with the original for verification
Police First Information Report (where applicable)
Fire Brigade Report (in case of fire)
Original Repair/Replacement Bills (in case of Reimbursement Claim)
Photographs of the damaged vehicle
Entire set of vehicle keys
Final Report – No Trace Report for lost vehicle from the Police?
Subrogation & Power of Attorney in case of Total Loss and Theft
Indemnity Bond
NOC from f​inancer in case of Total Loss and Theft
Discharge Voucher

Do you have direct settlement facility for motor claims?

​Yes, we do have cashless claims facility wherein we directly pay the eligible claim amount to the garage on your behalf. This facility is available only if the vehicle is repaired in our approved list of garage network. You may call us or click here​ to obtain the list of approved garages.

Please remember that the claim is payable subject to the loss being covered under policy stipulations & coverage opted at the time of taking a policy. Any extra charges will be borne by the policy holder.

How do I receive the claim amount if the vehicle is repaired by a garage not covered in your network?

In such a case, the claim will be processed as a reimbursement claim. An IRDA accredited surveyor/official of the Company will inspect the damaged vehicle pre repair &​ post repair and submit his assessment report based on the quantum.

You will be required to clear the workshop bills and then submit all original bills along with payment proofs in addition to other claim documents as required with us.

All eligible payments, in such cases, will be directly paid to insured / credited into insured’s bank account through NEFT / RTGS.

What is the difference between cashless & non-cashless/reimbursement claim?

Cashless claim: In a cashless claim service, the vehicle repairs charges are paid by us directly to the garage network provided that the garage is ​within our approved network. All claims are subject to policy terms and conditions.​

Non-cashless/reimbursement claim: If the vehicle is repaired in a garage outside our network, you will be liable to pay repair charges directly to the garage. You can later get the claim amount reimbursed by submitting the original bills and payment receipts to our office. All claims are subject to policy terms and conditions.​​

Is there a provision for getting advance payment if the repair charges are high?

Liberty Videocon General Insurance Co. Ltd. offers cashless services only if the vehicle is repaired within our approved garage network. If the vehicle is repaired by a garage ​outside our network, you will have to pay for the repairs and we will reimburse your claim amount as per our reimbursement claim process.

How will I know when the survey will happen?

Once the claim is lodged​,​ the company representative will call you and fix an appointment for survey of the vehicle.​

How much time does it take for motor insurance claim settlement?

​It is our endeavour to settle the claim as fast as possible and in any case, claim settlement will be done within 7 working days from the date​ we receive all the required documents.

What Should I do in case of third party damage/ injury?

In case of third party damage/ injury, ​kindly register an FIR with the police as per jurisdiction & call us on our toll free number 1800 2665 844 to lodge your claim. If possible, please give details of the injured persons and the place where they are undergoing treatment. You may also visit our nearest branch office to register a claim post lodging the FIR.

Please click here​ to find out our Branch locations.

What should I do in case of theft of vehicle?

In case of theft of the vehicle and/or accessories, kindly register an FIR with the police as per jurisdiction & call us on our toll free number 1800 2665 ​844 to lodge your claim. You may also visit our nearest branch office to register a claim post lodging the FIR.

Please click here​​ to find out our Branch locations.

When should I report to the police?

​In the event of (a) Third party property damage (b) Body injury to self Or third Party (c) Theft (Vehicle and/or accessories), the incident should be reported to the police station immediately, under whose jurisdiction the incident has happened.

Whom should I contact if my vehicle sustains damage in a city other than the policy issuing city?

Kindly call us on our toll free number 1800 2665 844 and our customer care executive will help you with the process. In case you are aware of our nearest branch ​office, kindly visit the same to register a claim.

Please click here​​ to find out our branch locations.

What is the meaning of deductible? What is the deductible applicable to private car?

Deductible means the amount that you will bear in the case of a claim & is reduced from the total claim amount paid by us (cashless Or non-Cashless claim). A car insurance policy carries a compulsory deductible of Rs. 1,000 (for vehicles not exceeding 1500 cc) & Rs. 2,000/- (for vehicles exceeding 1500 cc). Two-wheeler Insurance policies carry a compulsory deductible of Rs. 100. & in case you have opted for voluntary deductible then the same would also be deducted from the total claim amount.​​



Testimonials​

N. Rama Mohan Rao​


Thank you very much for your prompt service, While taking insurance from your company, some people told that, if I take insurance from other than car dealer, I have to face problem (Like visit to dealer and insura​nce company surveyor and office, no cashless facility etc) while claim comes, you have pro ven that all th ose words are wrong and we can take from other than deale​r also, I would like to express my please for your service .


Santosh Mulay


Thank you very much.As discussed I was feeling helpless because of website OTP issue.But I would like to appreciate your proactive approach to help the customer.Thanks again and wish you a Happy Diwali!!


​​

 

  Please read the policy wordings for more information.​​​​

   *Terms & Conditions apply.​​​​

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Private Car Insurance
5/5 | 42 Customer reviews

Date published:11/13/2016 8:09:14 PM
Category: Motor Insurance

good

5
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Date published:11/12/2016 1:29:14 PM
Category: Motor Insurance

good

5
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Date published:11/11/2016 5:59:12 PM
Category: Motor Insurance

super but site is slow please improve

5
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Date published:11/8/2016 1:19:13 PM
Category: Motor Insurance

good

4
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