Car Insurance | SRK Finsurance

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What is Car Insurance?

Car insurance is a contract between you and an insurer that protects you financially against losses from accidents, theft, fire, and natural calamities involving your car.

In exchange for the premium you pay, the insurer agrees to cover repair costs and third-party liabilities — and, depending on your plan, even total loss or theft of your vehicle. It is not just a legal requirement on Indian roads; it is a financial safety net that keeps an unexpected accident from becoming an unexpected expense.

Car Insurance Protection

Quick Summary — Why Choose Car Insurance from SRK Finsurance?

Compare quotes from 20+ trusted insurers in one place
Instant policy issuance with minimal paperwork
Cashless claim support at 1000+ network garages
Dedicated relationship manager for claim assistance
Zero Depreciation & other add-on covers available
Transparent pricing — no hidden charges

Why is Car Insurance Mandatory?

Under the Motor Vehicles Act, 1988, every vehicle plying on Indian public roads must carry at least a valid third-party car insurance policy. This is not optional — driving without it is a punishable offence.

Protects you from legal liability if your car injures a third party or damages their property
Driving without valid insurance attracts fines and can lead to licence suspension
Required for vehicle registration renewal and resale
Provides peace of mind against unpredictable on-road risks

COVERAGE DETAILS

What is Covered Under Car Insurance?

Coverage depends on the plan you choose — comprehensive, third-party, or own-damage.

Typically Covered

Accidental damage to your car
Theft of the vehicle
Fire, explosion, or self-ignition
Natural calamities — floods, storms, earthquakes
Third-party injury, death, or property damage
Man-made events — riots, strikes, malicious acts

Usually Not Covered

Normal wear and tear or mechanical breakdown
Driving without a valid licence
Driving under the influence of alcohol or drugs
Damage outside the geographical area specified in the policy
Depreciation-related losses (unless a zero-dep add-on is taken)

MAKE THE RIGHT CALL

How to Choose the Right Car Insurance Policy?

A few careful checks can save you money and hassle at claim time.

1
Decide the coverage type

Choose between third-party, own-damage, or comprehensive cover based on your car's age and usage.

2
Compare IDV & premiums

Check the Insured Declared Value offered by different insurers alongside the premium quoted.

3
Check the claim settlement ratio

A higher ratio means the insurer is more reliable when it's time to actually pay out a claim.

4
Review the network garages

More cashless garages nearby means faster, hassle-free repairs after an accident.

5
Pick relevant add-ons

Zero depreciation, roadside assistance, and engine protection can be worth the extra premium.

PRICING FACTORS

Which Factors Affect Your Car Insurance Premium?

IDV

A higher Insured Declared Value generally means a higher premium.

Car Age & Model

Older cars and certain models can affect both risk and repair cost.

Engine Capacity

Third-party premiums are often slab-based on engine cc.

RTO Location

Your registration city/zone impacts risk-based pricing.

No Claim Bonus

A claim-free history earns a discount of up to 50% on renewal.

Add-on Covers

Zero depreciation, engine protection, and other riders add to the premium.

GOT QUESTIONS?

Frequently Asked Questions About Car Insurance

Car insurance is a policy that protects you financially against losses from accidents, theft, fire, and third-party liability involving your car. It is both a legal requirement and a safeguard against unexpected repair or liability costs.

Yes. Under the Motor Vehicles Act, 1988, every car driven on Indian public roads must carry at least a valid third-party insurance policy. Driving without one is a punishable offence.

Third-party insurance only covers legal liability towards a third party's injury, death, or property damage. Comprehensive insurance covers that, plus damage to your own car from accidents, theft, fire, and natural calamities.

IDV is the current market value of your car as assessed by the insurer. It is the maximum amount you would receive in case of total loss or theft, and it directly affects your premium.

Maintaining a claim-free record to build your No Claim Bonus, choosing a higher voluntary deductible, installing anti-theft devices, and comparing quotes from multiple insurers can all help reduce your premium.

Yes. You can renew your car insurance online by sharing your existing policy and vehicle details — the process is typically completed within minutes.

Driving without valid insurance can result in fines, legal penalties, and leaves you fully financially exposed for any damage, injury, or liability caused in an accident.

Inform your insurer as soon as possible after the incident, file an FIR if required, and submit the claim with supporting documents. SRK Finsurance's claim support team can guide you through each step.

Yes. NCB is attached to you as a policyholder, not to the vehicle or insurer, so it can generally be transferred when you switch insurers or buy a new car.