General Insurance

Motor Insurance (Car, Bike & Commercial Vehicle)

Legally required third-party cover plus protection for your own vehicle, for cars, two-wheelers and commercial fleets.

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Scooters, auto-rickshaws and buses in Indian city traffic

Third-party coverMandatory by law

Third-party cover: Mandatory by law
No-claim bonus: Up to 50% off OD premium
Owner-driver PA: ₹15 lakh (compulsory)*
Claims: Cashless or reimbursement

What is motor insurance?

Motor insurance protects vehicle owners against financial loss from accidents, theft and damage, and covers their legal liability to others. Under the Motor Vehicles Act, 1988, every vehicle used in a public place must have at least third-party cover.

Cover	Pays for	Legally required?
Third-party (liability only)	Injury, death or property damage to others	Yes
Stand-alone own damage	Damage to, or theft of, your own vehicle	No, but needs valid third-party cover alongside
Comprehensive	Both of the above	Meets the legal requirement

How it works in India

When you buy a new vehicle, the law requires long-term third-party cover: three years for a car and five years for a two-wheeler. Own-damage cover can be bought for a year and renewed separately with any insurer.

Own-damage cover is built around the Insured Declared Value (IDV) — broadly the vehicle's current market value, worked out from the manufacturer's price less age-based depreciation. IDV is the most the insurer will pay on theft or total loss.

Every claim-free year earns a no-claim bonus, a discount on the own-damage premium that rises in steps to 50% after five consecutive claim-free years. One own-damage claim usually resets it, unless you have NCB protection.

Third-party claims for death or injury are decided by the Motor Accident Claims Tribunal and can run into large amounts, which is why liability cover matters even for an old vehicle.

Commercial vehicles and fleets

Taxis, goods carriers, school buses and delivery fleets need policies written for commercial use, along with valid permits and fitness certificates. Insuring a commercially used vehicle under a private policy can lead to a rejected claim. For fleets, aligning renewal dates and add-ons across vehicles saves time and reduces the chance of one vehicle slipping out of cover.

Things to compare before you renew

IDV — too low saves premium but cuts your payout
Add-ons you will genuinely use
Network garages in your city for cashless repairs
Compulsory and voluntary deductibles
How the insurer handles surveys and settlement

Our team compares quotes from multiple insurers, renews on time so your NCB stays intact, and supports you from claim intimation through survey to settlement.

Who is it for?

Private car owners renewing a policy or buying a new vehicle
Two-wheeler owners, including those whose policy has lapsed
Businesses running goods carriers, taxis, buses or delivery fleets
New-vehicle buyers who want to compare options beyond the dealer's quote

Key features

Third-party liability

Covers your legal liability for injury, death or property damage caused to others by your vehicle. It is compulsory under the Motor Vehicles Act, 1988, and base premiums are notified by the government in consultation with IRDAI.

Own-damage protection

A comprehensive policy also covers your vehicle against accidents, theft, fire, floods and other listed perils, up to its Insured Declared Value (IDV).

Stand-alone own damage

If you already hold a valid long-term third-party policy, you can buy own-damage cover separately each year and compare it freely across insurers.

Add-ons that fill gaps

Zero depreciation, engine protection, return to invoice, consumables, roadside assistance and NCB protection can be added, each for an extra premium.

Fleet and commercial cover

Goods carriers, passenger vehicles and multi-vehicle fleets can be covered under policies meant for commercial use, including legal liability towards passengers.

How Ramasure helps

1
Vehicle and usage check
Your relationship manager notes the vehicle, how it is used, your current NCB, past claims and the add-ons you will actually use.
2
Compare quotes across insurers
We compare quotes from multiple insurers on IDV, add-ons, deductibles, network garages and claim service — not only on premium.
3
Issue or renew without a gap
We complete KYC and documentation, arrange a vehicle inspection if the policy has lapsed, and issue the new policy before the old one expires.
4
Claims support
After an accident or theft, we help you intimate the insurer, arrange the survey, choose a network garage for cashless repair and follow up until settlement.
5
Fleet renewal tracking
For businesses, we track renewal dates across every vehicle and keep documents in one place so no vehicle runs uninsured.

Documents & eligibility

Documents you'll need

Registration certificate (RC)
Previous policy copy and claim history
Owner-driver's driving licence
PAN and Aadhaar for KYC
Valid PUC certificate
Permit and fitness certificate, for commercial vehicles
Purchase invoice, for a new vehicle

Costs and risks to understand

Costs to check

Third-party premium follows notified rates based on engine capacity or vehicle class
Own-damage premium depends on IDV, vehicle age, model, city, NCB and add-ons
A voluntary deductible lowers the premium but increases what you pay on each claim
Compulsory deductibles and depreciation on parts reduce own-damage claims unless an add-on covers them
*Compulsory PA cover can be skipped only in specific cases — see the FAQ below

Risks & things to know

Driving without valid third-party cover is an offence and leaves you personally liable for third-party claims
If you renew more than 90 days after expiry, your accumulated NCB is lost and an inspection may be needed
Lowering the IDV to save premium means a smaller payout on theft or total loss
Claims can be cut or rejected for drunk driving, an invalid licence or using a private vehicle for commercial purposes
Insurance is the subject matter of solicitation. Please read the policy wording carefully before buying.

Frequently asked questions

Third-party cover meets the legal requirement and pays for damage you cause to others, but nothing for repairs to your own car or if it is stolen. Lenders usually insist on comprehensive cover for financed vehicles. The choice depends on your vehicle's value and how large a repair bill you could absorb yourself.

Yes. NCB belongs to you, not the vehicle, so it moves with you when you change insurers or buy another vehicle of the same class. When you sell, ask your insurer for an NCB retention certificate. It lapses if the policy is not renewed within 90 days of expiry.

Every owner-driver must have personal accident cover of ₹15 lakh, usually bought along with the motor policy. You can opt out only in limited cases, such as already having this cover through another vehicle's policy or a separate personal accident policy, or not holding a driving licence. The insurer will ask for a declaration if you opt out.

Without it, depreciation on parts such as plastic, rubber and fibre is deducted from own-damage claims, so you pay part of the repair bill. Zero depreciation removes most of that deduction for a higher premium, often with a limit on the number of claims a year. Check the vehicle-age limit and claim limit in the add-on terms before deciding.

Make sure everyone is safe, take photos of the scene and vehicles, and inform your insurer as soon as possible — ideally before moving the vehicle for repairs. File an FIR if anyone is injured, a third party is involved or the vehicle is stolen. Avoid agreeing to on-the-spot settlements without telling the insurer.

Important information

Insurance is the subject matter of solicitation. For details on risk factors, benefits, exclusions and terms, read the sales brochure and policy wording carefully before concluding a sale.
Policies are underwritten and issued by the respective insurer. Ramasure does not underwrite risk, and claim settlement is at the insurer’s discretion as per policy terms.
In Unit Linked Insurance Plans (ULIPs), the investment risk in the investment portfolio is borne by the policyholder. Linked insurance products do not offer any liquidity during the first five years of the contract.
Waiting periods, sub-limits and co-payments may apply to health insurance. A free-look period is available on eligible policies, as per the policy terms.
Tax benefits, if any, are subject to the provisions of tax laws as amended from time to time.

Read all disclosures

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