#KnowYourInsuranceCompany: TATA AIG General Insurance
Published On Sep 27, 2019 5:30 AM By InsuranceDekho
Know everything about the car insurance plans offered by TATA AIG General Insurance
Tata AIG General Insurance is one of the well known names in the general insurance industry which has been offering non-life insurance services since 2001. The company has a wide distribution network composed of numerous agents, brokers, banks along with several direct channels that assist it to reach even in remote places in India. The general insurance company provides car insurance policies along with a number of add-on covers. To render cashless claim services to its customers in a hassle-free manner TATA AIG General Insurance maintains a wide network of more than 5,900 authorised cashless garages across India.
Types of Car Insurance Offered By Tata AIG General Insurance
The car insurance cover portfolio of Tata AIG includes two types of insurance policies:
- Tata AIG Liability Only Policy
- Tata AIG Auto Secure – Private Car Package Policy
Tata AIG Liability Only Policy Coverage
Consequences of a road mishap can come in several forms, one such form is third party liability. A third party liability refers to a liability to compensate for the loss incurred by a person walking on a road or travelling in a vehicle or his/her property. The Tata AIG Liability Only Policy allows the insured to claim reimbursement for such expenses. The following is the coverage of the third party liability only cover:
Third Party Loss/Damage
Compensation Liability of Insurer
Bodily injury, loss of one limb or one eye sight
Loss of both the limbs or both eye sights
Third party property damage
Up to Rs. 7.5 lakh
Apart from the above-mentioned protection, a policyholder can also purchase personal accident cover from TATA AIG General Insurance for self, hired driver, cleaner as well as for other unnamed passengers against an extra premium.
(Note: The personal accident cover is compulsory for the policyholder, which can be purchased from any insurance company at the time of car insurance purchase or separately.)
Tata AIG Auto Secure – Private Car Package Policy Coverage
Besides third party liabilities, an accident/mishap can also result in damages to the insured’s car. With Tata AIG Auto Secure – Private Car Package Policy, you can ensure your car against both its own damages costs as well as third party liabilities. The policy cover is as follows:
- Third-party liabilities arising out of a road accident caused by the insured’s car.
- Damages sustained by the insured’s car in a road accident.
- Damages incurred by the insured’s car due to natural and manmade calamities.
- Theft of the insured’s car.
TATA AIG Car Insurance Add-ons
One can also enhance the existing package policy’s protection by availing add-on covers against extra premiums.
- Depreciation Reimbursement: Having this add-on cover, the policyholder can do away with the liability of bearing depreciation cost.
- Daily Allowance: With this add-on, the insurance company will offer daily cash allowance to the policyholder when the insured’s car is out for repairs.
- Courtesy/hire Car: In case the expected repair time of the insured’s car is exceeding 24 hours, then the company will arrange a courtesy/hire daily for the policyholder for his/her daily commutes.
- Return to Invoice: This add-on cover makes the company liable to pay full ex-showroom listed price of the insured’s car in the event of total loss/constructive total loss.
- No Claim Bonus Protection Cover: It retains the NCB discount on Own Damage premium even if the policyholder has filed a claim in the policy tenure.
- Cover for Loss of Personal Belongings: This allows compensation for the loss of personal belongings kept in the insured’s car.
- Emergency Transport & Hotel Expenses: In the event of a breakdown of the car, the company will pay for the expenses of emergency transport as well as hotel costs.
- Key Replacement: This add-on cover allows the policyholder to get compensation for securing a new key if he/she loses the original one.
- Repair of Glass, Fiber, Plastic & Rubber Parts: In case you have opted for repairs of glass, fibre, plastic and rubber parts, this add-on will help you to retain the NCB discount upon renewal of the policy.
- Engine Secure: With this add-on cover, the policyholder can claim compensation for damages caused to engine parts and gearbox due to water ingression or oil leakage.
- Tyre Secure: The policyholder can get indemnification for damages caused to tyres and tubes.
- Consumable Expenses: This add-on cover offers protection for consumable items such as engine oil, grease, etc.
- Road Side Assistance: With this add-on cover, the policyholder can request assistance services such as replacement of flat tyres, oil supply, towing service, etc.
Claim Facilities Offered By Tata AIG General Insurance
A Tata AIG car insurance policyholder can enjoy stress-free claim settlement. The company offers two types of claim settlement services:
Reimbursement Claim Settlement: In this, the policyholder can get his/her car repaired at a garage of his/her choice and get reimbursement for the expenses incurred as per the policy’s terms.
Cashless Claim Settlement: Tata AIG has a vast network of authorised garages where it offers cashless claim services to its policyholders. The repair cost is paid directly to the garage by the insurance company.
In a nutshell, TATA AIG offers a large variety of services to their customers. For cars, TATA AIG offers three basic types of insurance in India including third party insurance, standalone own-damage insurance and comprehensive insurance plans. Third-party insurance is a compulsory type of cover and takes care of the basic third party liabilities including bodily injuries, death and property damage. The TATA AIG own-damage covers are not compulsory however, they provide compensation for own-damage costs in a variety of scenarios. Lastly, the comprehensive plans take care of both own-damage costs and third party liabilities in the event of a mishap. If you are looking for holistic protection and convenience this is the best insurance policy to choose for your car. The advantages of selecting TATA AIG insurance provider is their efficient service, high claim settlement rate, affordable premium rates and a large network of garages across even the most remote areas of the country.
For further reading:
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Disclaimer: This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.