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Maruti Insurance

MARUTI Udyog (MUL) has tied up with National Insurance and Bajaj Allianz for insuring Maruti brand vehicles under the new umbrella brand "Maruti Insurance" service. MUL claims that the product has been designed to relieve the customer of the bother of settling insurance claims. The claims are now settled directly by the Maruti dealer where the vehicle is repaired. Normally, if a car is involved in an accident, the customer has to pay the workshop upfront for the repairs and then follow up with the insurance company for reimbursement of the authorised claim. In many cases, the customer also has to carry the "salvage", the remaining pieces of the repaired components, and deposit them with the insurance company for the claim processing to begin. Maruti Insurance claims to cut out the lengthy paperwork and the wait associated with vehicular claims. The Maruti dealer workshop where the vehicle is repaired will settle the authorised claim with the insurance company. MUL is calling this feature the "cashless facility".

Contact Information(Head Office)

11th Floor, Jeevan Prakash, 25, Kasturba Gandhi Marg,
New Delhi - 110001, India
( 91-11-23316831 (10 lines)
Fax: 91-11-23318754, 91-11-23713575
Telex: 031-65029 MUL IN

Benefits of Maruti Insurance

Near Cash-Less accident repairs:
All Maruti dealers will provide the customer with near cash-less repairs in their claim settlement. This means that the customer would not have to pay to the dealer for the repair charges to the extent it is payable by Insurance Co. Customer will just pay for the compulsory excess (fixed as per tariff according to the cubic capacity (cc) of the car) and applicable depreciation, which varies depending on the age of the vehicle and the type of the replaced parts. Rest of the amount will be settled directly between the dealer and the Insurance company.

Seamless services across nation:
The customer can get all the services like buying new policy, effecting renewals, endorsements and claims at any Maruti authorized dealer outlet across the dealer network spread all over India. The services cover right from policy issuance to emergency assistance to post accident repairs and claim settlement.

Faster & Fair Claim settlement:
With Maruti Insurance there are no hassles like Insurance Co. is not giving fair claim settlement. Whatever is payable by standards is admissible by Insurance Co. The customer is not forced to bear the undue differential cost of repair/ replacement.

Easy settlement of claims with no follow-ups:
There would not be any need of the customer's personal involvement with the surveyor or Insurance company, nor would the customer have to worry about salvage disposal in the process of settlement of claims. All this will be taken care of by the dealer.

Repairs at Authorized Dealer workshops:
After an accident, the damaged vehicles are repaired at the Authorized Dealer workshops that are equipped with the best facilities and infrastructure. This would lead to quality repairs with Maruti Genuine spare parts and trained mechanics with Maruti Insurance the customer need not compromise on the quality of repairs and thus health of the car, by going to smaller roadside workshops.

Dealer Assisted towing facility:
Towing assistance would be provided, for getting the vehicle to the dealer workshop, in case of accidents where the vehicle has been rendered immobile. This facility is available free of cost upto Rs 1500/- If the cost incurred for towing is more than Rs1500/- then the excess amount will be borne by the customer. This can be increased should the insured prefer so by paying extra premium at the time of policy issuance.

Easy transfer of No claim bonus:
No matter which Insurance company the customers' vehicle was previously insured with, his no claim bonus earned on previous policy will be easily transferred to Maruti Insurance policy that a customer is buying at the time of renewal.

Instant Policy issuance:
No longer would the customer need to wait for the policy document, which sometimes takes months to get delivered from the Insurance company. With MI, the policy is issued through Internet and it is instantaneous.

Faster refunds and cancellations & Policy Verification:
Maruti Insurance is completely driven by IT systems and thus it is possible to have a faster response time for cancellations and refunds compared to other Insurance companies. At the time of payment of claims also, the policy and premium credit verification is instant. This adds to both Dealer and Customer comfort.

"Insurance is a subject matter of solicitation"

General Questions on Maruti Insurance

Q.What is Maruti Insurance ?
A. Maruti Insurance is the brand name under which Maruti has tied up with Insurance Companies to provide better Insurance Services to its Customers. Maruti has tied up with 4 Insurance companies i.e Bajaj Allianz, National Insurance Company, Royal Sundaram and New India Assurance Co. Ltd. to provide Insurance Services.

Q. What are the Unique Benefits offered by Maruti Insurance ?
A. Benefits of Maruti Insurance:

  • Near Cash-Less accident repairs:
    All Maruti dealers will provide the customer with near cash-less repairs in their claim settlement. This means that the customer would not have to pay to the dealer for the repair charges to the extent it is payable by Insurance Co. Customer will just pay for the compulsory excess (fixed as per tariff according to the cubic capacity (cc) of the car) and applicable depreciation, which varies depending on the age of the vehicle and the type of the replaced parts. Rest of the amount will be settled directly between the dealer and the Insurance company.
  • Seamless services across nation:
    The customer can get all the services like buying new policy, effecting renewals, endorsements and claims at any Maruti authorized dealer outlet across the dealer network spread all over India. The services cover right from policy issuance to emergency assistance to post accident repairs and claim settlement
  • Faster & Fair Claim settlement:
    With Maruti Insurance there are no hassles like Insurance Co. is not giving fair claim settlement. Whatever is payable by standards is admissible by Insurance Co. The customer is not forced to bear the undue differential cost of repair/ replacement.
  • Easy settlement of claims with no follow-ups:
    There would not be any need of the customer's personal involvement with the surveyor or Insurance company, nor would the customer have to worry about salvage disposal in the process of settlement of claims. All this will be taken care of by the dealer.
  • Repairs at Authorized Dealer workshops:
    After an accident, the damaged vehicles are repaired at the Authorized Dealer workshops that are equipped with the best facilities and infrastructure. This would lead to quality repairs with Maruti Genuine spare parts and trained mechanics with Maruti Insurance the customer need not compromise on the quality of repairs and thus health of the car, by going to smaller roadside workshops. f.
  • Dealer Assisted towing facility:
    Towing assistance would be provided, for getting the vehicle to the dealer workshop, in case of accidents where the vehicle has been rendered immobile. This facility is available free of cost upto Rs 1500/- If the cost incurred for towing is more than Rs1500/- then the excess amount will be borne by the customer. This can be increased should the insured prefer so by paying extra premium at the time of policy issuance.
  • Easy transfer of No claim bonus:
    No matter which Insurance company the customers' vehicle was previously insured with, his no claim bonus earned on previous policy will be easily transferred to Maruti Insurance policy that a customer is buying at the time of renewal.
  • Instant Policy issuance:
    No longer would the customer need to wait for the policy document, which sometimes takes months to get delivered from the Insurance company. With MI, the policy is issued through Internet and it is instantaneous.
  • Faster refunds and cancellations & Policy Verification:
    Maruti Insurance is completely driven by IT systems and thus it is possible to have a faster response time for cancellations and refunds compared to other Insurance companies. At the time of payment of claims also, the policy and premium credit verification is instant. This adds to both Dealer and Customer comfort.

Q. What can be covered under Maruti Insurance ?
A. Maruti Insurance insures :

  • Maruti Vehicles upto 7 years old. However, this restriction is not applicable if the Previous insurance is Maruti Insurance.
  • Both Private and Commercial vehicles can be insured
  • Package Policy (Comprehensive Insurance) can be taken, no Third Party Only policy is given.

Q. From where can I get my Car insured through Maruti Insurance ?
A. Maruti Insurance can be taken from any Maruti Authorized Dealer across India. The Dealer will issue the Policy directly from the Internet. Alternatively, the insurance details can be entered on our website, our team will get in touch with you soon.

Q.Can I transfer my No Claim Bonus (NCB) prevailing on my present policy to Maruti Insurance policy ?
A. Yes, the NCB can be carry forwarded to your Maruti Insurance Policy. You need to pay exactly the same premium, what you would had paid to your previous Insurance company.

Q. In case of migration to another city, what is to be done ?
A. Select any Maruti dealer of choice in the new city, who will guide you in the same way as the dealer from where you originally obtained your insurance. You may subsequently renew your insurance with the selected dealer.

Q.In case of an out-of-town accident, whom do I contact ?
A. Contact any Maruti dealer, who will assist you in the same way as the dealer from where you originally obtained your insurance.

Q.In case of accident, can the car be repaired at any workshop ?
A. You will receive the same services from any Maruti dealer workshops that you select for post accident repair. These services include certain facilities that will be for your convenience which are available only at all Maruti dealer workshop. However, in case you opt for any other workshop, these facilities will not be provided by Maruti Insurance.

Q.In case of post accident repair, will the insurance take care of all costs ?
A. You will need to pay for the following costs which insurance will not cover: In case of replacement of parts, depreciation depending on age of car and item replaced is applicable. This is as mentioned in your insurance policy. Any extra job done (i.e. not related to the accident) by the workshop on your instructions, e.g. maintenance-related servicing, cost of towing in excess of Rs. 1500, and all other costs will be borne by you. The actual cost of restoring your car to its pre-accident condition will be settled directly between the workshop and the insurance company.

Q. How am I required to pay for my share of repair costs to the workshop ?
A. The workshop will inform you the costs to be borne by you towards depreciation, extra job done etc. This must be paid to the dealer before the repaired car is delivered back to you.

Q.Does Maruti Insurance charges extra Premium for its Unique Benefits?
A. No, Motor Insurance is a Tariff Insurance Product, which means the premium has to be same for all Companies, provided they offer the same cover.

The premium rates can differ only when there are some exclusion in the Cover.

Factors affecting Premium are:

  1. Third Party Cover (TP)
    The Premium is Rs. 500/600/700 based on Vehicle CC.
    It covers TP Life for Unlimited Value and and TP Property damage for Rs. 7.5 Lacs
    There is an option to reduce the insurance company liability from 7.5 Lacs to Rs. 6000, the premium would reduce by Rs.100
  2. Owner Driver Personal Accident Cover
    It is mandatory to give, its insures Vehicle Owner for Rs. 2 Lacs, premium cost is Rs. 100.
    But in case the Owner has another vehicle in his name, and has taken this cover in that vehicle also, this Cover can be made Optional, and premium can be reduced by Rs.100
  3. Anti Theft Device discount
    If you car is fitted with an Alarm Central locking system (with remote), you are entitled for an Anti theft Discount, which can be upto Rs. 500, depending on your Total Premium.
    Presently only Maruti Insurance is offering this discount.
  4. Voluntary Excess/ Deductible
    This is an option that if the Customer agrees to bear the first claim cost upto Rs. 2500/5000/7500/15000, the customer can get discount upto Rs.750/1500/2000/2500 respectively at the time of taking Insurance.
  5. Personal Accident Cover for Passengers
    This is Optional Cover.Its cost is Rs.100 per passenger, for cover of Rs. 2 Lac.
    Rs.2 Lac is the maximum coverage that can be offered, it can be reduced proportionately upto Rs.5 for Rs.10000 cover.
  6. Registration City
    Premium Rate varies based on Registration City also.
  7. Other factors which are for Premium Calculations are:
    • Insured Declared Value (IDV), Insured Vehicle Value
    • Engine CC
    • Discounts- No Claim Bonus, Automobile Association Membership
    • CNG/ LPG- Inbuilt or External
    • Electrical / Non Electrical Accessories insured
    • Vehicle type- Private or Commercial
    • Customer type- Individual/ Corporate

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