What are the events and losses covered in this policy?
The insurance policy provides cover for the following:
- Accidental damage to the vehicle
- Liability for third party injury or death, and damage caused to their property
- By paying an additional premium, you can opt for extra covers 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 persons employed (paid drivers/cleaners)
- Legal liability to employees of the insured (other than paid drivers /cleaners)
What are the events and losses not covered under this policy?
Some of the major exclusions under the insurance 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 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 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. 1 lakh in case of two-wheeler.
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 car or two-wheeler.
IDV 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 months||5%|
|Exceeding 6 months but not exceeding 1 year||15%|
|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 years||50%|
For car and two-wheeler models that are obsolete and aged over 5 years, the IDV will be the value agreed between Liberty Videocon General Insurance (insurer) and you (insured).
*Manufacturer's listed selling price = (cost price + local duties)/taxes, excluding registration and insurance.
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 preceding full year of insurance||20%|
|No claim made or pending during the preceding 2 consecutive year of insurance||25%|
|No claim made or pending during the preceding 3 consecutive year of insurance||35%|
|No claim made or pending during the preceding 4 consecutive year of insurance||45%|
|No claim made or pending during the preceding 5 consecutive year of insurance||50%|
Is my No Claim Bonus (NCB) transferable? And what is the transfer 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.
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 our nearest branch office
- Mail us on
- 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
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 or 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:
|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||✓||✓|
|NOC from financer in case of total loss and theft||
Do you have a 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 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
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.
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.
click here to find out our branch locations.
What is the meaning of deductible? What is the deductible applicable to two-wheeler?
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). 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.