Navi General Insurance is one of India’s leading companies that offer an easy approach to insurance products to give financial security to people. Mr. Sachin Bansal, CEO of Navi Technologies, acquired the company that was earlier known as DHFL general insurance from Wadhawan Global Capital WGC and then rebranded it as Navi General Insurance. The company has offered a range of insurance solutions such as car insurance, bike insurance, health insurance, property insurance, commercial insurance, etc. The cost of Navi car insurance varies depending on the type of policy that you choose to buy.
Overall, the firm gives its policyholders a sense of empowerment with financial independence through an extensive range of affordable products and a seamless customer experience. Navi General Insurance is a leading car insurance company in the country. The company offers two types of car insurance policies which comprise a third party insurance policy and a comprehensive insurance policy.
The third party insurance is mandatory to be owned by all the car owners as per the Indian Motor Tariff, which is designed to cover your financial liabilities towards a third party for their injuries, death, and property damage. On the other hand, the comprehensive car insurance cover is meant to cover your car’s damage expenses in an accident, theft, vandalism, natural disaster, and man-made calamities. To purchase a comprehensive car insurance policy is the best way out to secure your car under a single premium.
Types of Navi Car Insurance Plans:
Navi General Private Car Insurance Policy can be customized as per your requirement to get insurance for your private vehicle. Before you plan of buying car insurance understand your coverage. Ensure to cover your car adequately. It is not advisable to be covered insufficiently.
When buying an insurance policy for your car, you need to take into account several factors and most importantly your needs and requirements. There are many policies available today, and thus, choosing the right one can be a tough decision. A wrong decision can lead to many problems later on, and thus, being careful is essential.
- Navi Third Party Liability Car Insurance
- Navi Comprehensive Car Insurance
- Navi Long-term Comprehensive Car Insurance
- Navi Liability Only Private Car Policy
- Navi COCO Drive Private Car Package Policy.
1. Third Party Liability Car Insurance:
Navi's third party private car insurance policy covers the legal liability arising out of bodily injury or death of third parties involved in an accident with the insured vehicle. In addition to this, it also covers the third party property damage caused due to an insured four wheeler car. The third party car insurance is mandatory as per the Motor vehicles Act to ply on public roads without which the driver/owner may be fined up to Rs.5000 or imprisonment up to 3 months or both. The third party car insurance premium can be calculated online which includes the personal accident cover to the car owner.
Compensation is provided for loss or damage caused to other vehicles, people, and property in the event of an accident, Personal accident cover, and third party liability.
- Loss/damage to the vehicle or its accessories by Fire, explosion, self-ignition or lightning, burglary, theft, by riot and strike; Earthquake (Fire and shock damage); Flood, typhoon, hurricane, storm, cyclone, hailstorm, frost, Accidental external means, Malicious, Terrorist, etc.
- Third Party Liability covers Death of or bodily injury to any person including tenant carried in the vehicle. Damage to property other than property belonging to the insured or held in trust or the custody or control of the insured up to a limit of Rs. 7.5 lakhs.
- Personal Accident Covers for bodily injury/death sustained by the owner-driver of the vehicle, in direct connection with the vehicle insured or during the time of driving traveling or in it as a co-passenger, caused by violent, accidental, external, and visible, coverage up to a limit of Rs. 2 lakhs.
2. Comprehensive Car Insurance:
The comprehensive car insurance includes the Own damage section as well as the Third party section. Own damage section covers the loss or damage to the four wheeler car due to an insured peril such as Fire, Theft, Act of God, Malicious damage, etc., acting at the time of damage.
In addition to this, it also covers the third party property damage caused due to an insured four wheeler car. At Navi car insurance, you can get this as a package. “Liability Only Policy + OD or Own Damage Cover”. The cover extends to the owner's vehicle.
- Third- party coverage
- Loss and damage to the vehicle due to accident, theft, natural calamities, etc.
- Personal accident covers for the occupants.
Long-Term Comprehensive Car Insurance:
Long-Term Car insurance provides comprehensive cover for multiple years at one congested premium amount. They provide policyholders significant savings and ensure they do not have to go through the hassles of yearly renewals. Further, the No Claim Bonus applicable on such plans is not lost completely on claiming your policy, thereby providing you added savings.
3. Liability Only Private Car Policy:
Liability-only car policy provides private car owners’ security from any third party liability arising out of the use of their vehicle. The insurance is designed to cover liabilities due to bodily injury and damage caused to third party property.
Coverages:
- Damage due to third party property is covered
- Damage of bodily injury or death of a person is covered
- Additional legal liabilities for employees traveling in the insured vehicle are covered.
- Bi-Fuel kit: Any legal liability arising out of the use of the CNG-LPG bi-fuel kit.
- Passengers can cover up to Rs. 2 lacs.
- Paid driver up to a maximum of Rs. 2 lacs is covered.
4. COCODrive Private Car Package Policy:
COCO Drive-by Navi General Insurance is a comprehensive motor insurance policy that provides all-around cover. However, you can choose from our optional extras to add more layers of protection to the existing policy.
COCODrive Private Car Package Policy Add-on Covers:
You can enhance your Navi car insurance cover with extra coverage in the form of add-ons or riders on payment of extra premium at the time of policy purchase. The list of add-ons offered by the Navi car insurance policy is mentioned below:
NCB Protection: NCB is the No claim bonus which is offered to auto insurance customers at the time of renewal if there is no claim during the previous policy period. The no-claim bonus is a form of discount offered to the customers for not claiming in the previous policy period.
Return to Invoice Value Protection: Return to Invoice is an add-on option that covers the gap between the insured declared value and the invoice value of your bike along with the registration and other applicable taxes.
Zero Depreciation Protection: Depreciation is taken into consideration at the time of claim settlement by the insurance company. As a normal rule, each year 10% or more of the car value would be depreciated depending on the parts which are damaged due to an accident. The depreciation cost is the amount that is deducted from your claim amount due to normal wear and tear caused to your car over some time. This depreciation cost would be given to the customer at the time of claim settlement if the depreciation shield is added to the policy at the time of purchase.
Engine Protection: Engine protector provides financial protection to the insured against any repair or loss of the car’s engine due to leakage of lubricant oil or damage to the engine box due to water ingression. If you stay in a low-lying area that has a huge probability of floods during the monsoon season and driving in water-clogged areas also results in malfunction of the engine. Without this add-on, standalone damage to the engine is not covered under your comprehensive car insurance policy.
Navi Car Insurance Premium Calculation:
Navi car insurance premium depends on many factors such as IDV, Add-ons, Age of the car, Make and Model of the car, year of registration, Manufacturing date, Previous NCB, RTO, etc.
Navi car insurance premiums can be obtained instantly using the online calculator. It is advisable to use this car insurance calculator before deciding on setting the budget for the car insurance. Below are the factors which need to be input to get the Navi car insurance premium online:
- Basic details such as Name, E-mail, Mobile number, etc.,
- Car Make and Model which decides the premium of the car to be paid by the customer.
- An insured declared value is the maximum liability of the insurance company in case of any claim. Higher the IDV, the higher the premium.
- Year of registration of the car to arrive at the age of the car. Navi general insurance covers four wheelers up to 20 years of age online. Cars aged above 20 years would be subject to inspection and approval from the underwriting team before quoting.
- The previous year's no claim bonus also decides on the premium to be paid for the Navi car insurance policy. The higher the NCB, the lower would be the premium to be paid by the customer.
- RTO location decides on the premium to be paid in the online car insurance calculator. State capitals are classified under Zone A while the rest of the cities come under Zone B.
Benefits and Features of Navi Car Insurance policy:
- You can renew an existing policy from any insurance provider and bring it to Navi General Insurance for better services. This includes your current no-claim bonus.
- Add Optional add-ons covers and customize your policy. Select from a list of smart rider options, available for an additional premium.
- Decision on claims approval within 7 working days from the receipt of all documents.
- Guaranteed 24*7 customer support for any queries related to the policy and intimation of a claim call: 1800-123-4003.
- Avail wide network of cashless garages service.
- No Claim Bonus is up to 50% discount
- Specific car insurance products are designed to cater to the different needs of policyholders.
- Cashless claim settlement in over 1,100+ cashless garages
- Any loss or damage resulting due to an accident or collision with another vehicle, animal, or thing like a building or pillar
- Any loss or damage that has occurred due to bad weather conditions or natural calamities is also covered
- Any loss or damage due to external explosion or fire is also covered.
- Third-party damage cover for third party property/vehicle, cover for injury caused in an accident.
- Damage to the vehicle due to natural calamities like storms, floods, etc., or any burglary, theft, or act of terrorism.
Exclusions:
- Accidental damages while driving under the influence of alcohol or intoxicating drugs.
- Accidental damages during war or similar conditions
- Any claims against an incident when your insurance policy was not active.
- Cost of repair/replacement of parts that are damaged due to regular wear and tear and not related to any incident like accident, theft, fire, flood, etc.
- Any claims against an incident where you were driving without a valid driving license.
- Any claims related to personal items stolen from your car.
How to Renew/Buy Navi Car Insurance Policy Online?
It is important to renew the Navi car insurance policy before its expiry to continue to enjoy the policy cover for your vehicle. Renewing your car insurance policy with Navi General Insurance is a very easy and quick process. Navi General Insurance offers a zero documentation renewal process which allows you to get your policy renewed instantly.
You can get any car insurance policy renewed with Navi General Insurance, be it a one originally issued by Navi or any other insurer. Navi General Insurance has formulated a simple three-step process for the renewal of car insurance policy which has been elaborated below:
- Visit the company’s official website and click on the ‘Car Insurance’ menu and click on the ‘Renew Now’ or ‘Buy Now’ tab.
- Enter your Navi General Insurance Policy Number and Registration Number/Engine Number/Chassis Number and click 'Next'. The policy details will be displayed on the next page.
- Confirm the policy details and do the required changes to proceed with payment. The payment of the renewal fee can be made using a debit/credit card.
How to Claim Navi Car Insurance Policy Online?
An insurance claim is an official request made by the policyholder to the insurance company for compensating for the loss/damage involving his/her insured car. The amount of claim that the policyholder is entitled to entirely depends on the type of policy purchased. Navi General Insurance allows its policyholders to make instant claims and provides quick and convenient claim settlements.
Step 1: Claim Registration: Immediately inform the insurer by calling on the toll-free number. You can write them an email or visit their customer portal.
Step 2: Send the vehicle for Repair:
Duly filled and signed claim form. In the case of a company or firm-owned vehicle, the company’s seal needs to be affixed.
An original and duplicate copy of the registration certificate.
Copy of driving license (original will be required for verification). In case the person driving the vehicle is found without a DL, the insurance cannot be claimed.
Police Report or FIR in case of partial theft, third party damage, death, disability, injury.
KYC documents will be required if the claim amount exceeds Rs. 1 Lakh. You can submit address proof & ID proof.
Step 3: Claim Settlement: Based on the report made by the surveyor after receiving the documents and estimating the loss, the claim will be settled accordingly. The surveyor may re-inspect the vehicle once the repair is done. Navi General Insurance will issue CAC (Claim Amount Confirmation) on receipt of the original repair bill.
Step 4: Delivery of the Vehicle: The delivery of the vehicle can be done after paying the share of the claim if any. You will have to submit the Satisfaction letter signed by you at the time of taking the delivery of the repaired vehicle. The payment will be received from the insurer’s end within 7 days directly to the garage.
FAQs of Navi Car Insurance Policy:
Does the Navi car insurance policy provide a cashless claim settlement facility?
Yes, with above 900 network garages across the country, Navi General Insurance offers the facility to easily get your car repaired free of cost through the cashless claim settlement facility. Policyholders can locate the nearest network garage or workshop by entering their current exact location on the official website of Navi General Insurance.
Can I switch to a new motor insurance company without losing my NCB?
You can switch to a new motor insurance provider and retain your NCBs too! This means the NCB discount will be applicable when you pay your first premium with the new insurer. If you need more help regarding this, feel free to get in touch with us.
What is covered under a Navi Comprehensive Car Insurance Plan?
Navi Comprehensive Car Insurance Policy provides coverage for damages and losses arising out of road accidents, fire, theft, earthquake, flood, riot. terrorist activity, and so on. However, to understand the coverage details, you can look through the policy wording of your car insurance policy.
What is the Add-on Covers provided with the Navi car insurance policy?
Navi General Insurance provides various add-on covers with its car insurance policy that includes Zero Depreciation cover, New Vehicle for Old Vehicle cover, No Claim Bonus Secure, Consumable Expenses, Engine Protector, Accidental Hospitalisation, Hospital Cash, Roadside Assistance cover, EMI protector, Emergency Transport and Hotel Stay, Key and Lock Replacement, Tyre Replacement, and so on. Policyholders can get these add-on covers by paying a little extra premium amount to enhance their car insurance policy as per your requirement.