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 Mitsubishi Lancer Insurance

The Mitsubishi Lancer is a popular Sedan model manufactured by the Japanese automaker, Mitsubishi Motors. The car was discontinued in India in late 2012 and is now out of production. The Mitsubishi Lancer price, before it was discontinued, was between the range of ₹7.33 Lakh - ₹8.13 Lakh. With an engine capacity of up to 1998 cc, and an NHTSA overall 4-star safety rating, the Lancer is a safe drive for Indian roads. However, Mitsubishi Lancer car insurance is essential to ensure your financial safety in the event of an unfortunate accident.

Mitsubishi Lancer Variants with Car Insurance Price

Before it was discontinued, the Lancer was available in 25 variants with petrol and diesel engine options. Let’s take a look at the different Mitsubishi Lancer variants and the Mitsubishi Lancer insurance cost:

Mitsubishi Lancer Variants

Ex-showroom price*

Fuel Type

Estimated Third-party Premium**

1.5 CNE

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 CNX

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 Exel

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 GLXi

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 Gli

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 L Petrol LX

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 LEi

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 LXi

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 SFXi

₹7.33 Lakh*

Petrol

Rs. 3383

1.5 XLi

₹7.33 Lakh*

Petrol

Rs. 3383

1.8 Invex AT

₹7.33 Lakh*

Petrol

Rs. 3383

1.8 LEi

₹7.33 Lakh*

Petrol

Rs. 3383

1.8 LXi

₹7.33 Lakh*

Petrol

Rs. 3383

1.8 SFXi

₹7.33 Lakh*

Petrol

Rs. 3383

1.8 XLi

₹7.33 Lakh*

Petrol

Rs. 3383

SLXi

₹7.33 Lakh*

Petrol

Rs. 3383

2.0 Exel

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 GLd

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 L Diesel LX

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 LEd

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 LXd

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 SFXd

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 SLXd

₹8.13 Lakh*

Diesel

Rs. 7890

2.0 SXd

₹8.13 Lakh*

Diesel

Rs. 7890

GLXD

₹8.13 Lakh*

Diesel

Rs. 7890

 

*The ex-showroom prices are for Delhi and are subject to change on the basis of the city.

 

**Third-party premium rates are indicative. The actual premium that you may have to pay may change depending on various factors. Please check the prevailing premium rates before purchasing your car insurance policy.

Buy Mitsubishi Lancer Car Insurance in 5 Easy Steps!

Buying Mitsubishi Lancer car insurance online on Finserv MARKETS is a simple 5-step process. These steps are: 

 

  • Enter your mobile number and the Lancer’s registration number.

  • Provide all the necessary details about your four-wheeler.

  • Pick a Lancer car insurance plan.

  • Pay the insurance premium online.

  • You will receive your Mitsubishi Lancer car insurance policy at your email address upon successful payment of the premium.

Renew Mitsubishi Lancer Car Insurance in Minutes!

Renewing your Mitsubishi Lancer insurance can be done with just a few clicks on Finserv MARKETS. All you need to do is follow these five steps:

 

  • Visit the ‘Car Insurance Renewal’ page.

  • Enter the Lancer’s registration number and your contact details. 

  • Check your Mitsubishi Lancer car insurance renewal premium.

  • Complete the premium payment online.

  • Download a copy of the Mitsubishi lancer car insurance policy.

Read More: Car Insurance Renewal

Why Insure Your Mitsubishi Lancer?

While the Mitsubishi Lancer is equipped with some great safety features, you are still exposed to risks like accidents, theft, natural calamities, etc. Such events can cause serious damages to your Lancer, leading to repair expenses that can go up to ₹1 Lakh or more! Insuring your Mitsubishi Lancer with the right car insurance will protect you financially by compensating for such expenses. Moreover, having at least third-party car insurance is mandatory under the Motor Vehicles Act, 1988.

Mitsubishi Lancer Car Insurance Plans You Can Choose From

There are two types of insurance plans for you to choose from:

 

  • Third-Party Insurance Plan

Having third-party insurance is compulsory for two-wheeler as well as four-wheeler vehicle owners, under the Motor Vehicles Act of 1988. This car insurance plan helps cover the costs incurred due to third-party liabilities. Since this insurance plan offers coverage for third-party liabilities only, the premium is affordable.

  • Comprehensive Insurance Plan

A comprehensive insurance plan is an insurance plan that offers all-inclusive insurance coverage, including third-party coverage. This plan can protect you from expenses incurred for self or co-passenger in the case of any accidents. It also offers coverage for losses incurred due to natural calamities and any other repair/replacement cost for parts of your vehicle. Since the coverage is vast in a comprehensive car insurance plan, its premium is comparatively higher than that of third-party car insurance.

What are the Inclusions in Mitsubishi Car Insurance Policy?

Third-party Lancer car insurance covers any injuries or damages to a third party by your insured car. On the other hand, a comprehensive Lancer car insurance policy covers third-party liabilities, self and co-passenger coverage in case of accidents, damage to your Lancer due to man-made disasters or any natural calamity, losses incurred due to the theft of your Lancer, etc.

What are the Exclusions in Mitsubishi Car Insurance Policy?

Your Mitsubishi Lancer Car Insurance policy does not provide coverage for normal repair or wear and tear of your vehicle, damages caused when driving under the influence of drugs or any hallucinogens, damages caused when the Mitsubishi car insurance policy has expired or lapsed, etc.

Add-On Covers to Top-Up Your Mitsubishi Lancer Car Insurance

If you wish to enhance the scope of your Mitsubishi Lancer comprehensive car insurance, you can do so by purchasing certain add-on covers like:

 

  • Roadside Assistance Cover

Covers emergency roadside assistance services like towing, flat tyre repair, urgent fuel delivery, etc.

  • Personal Baggage Cover

Covers the cost of loss/damages to your personal belongings incurred during an accident.

  • Accessories Cover

Covers damages incurred to your Lancer’s accessories due to a mishap.

  • Consumables Cover

Covers the repair and replacement of consumables like brake oil, engine oil, coolant, etc. after an accident.

 

Read more: Add-on Covers in Car Insurance

Things to Know Before Filing a Claim for Your Mitsubishi Lancer Insurance

Before you file a claim for your car insurance, you must know about the documents needed and the two different ways to file a claim. Let’s start with the documents you will need to register a claim for your Lancer car insurance:

 

  • Duly filled and signed insurance claim form

  • Copy of the Mitsubishi Lancer car insurance policy

  • Copy of your car’s registration certificate (RC)

  • Driver’s licence copy 

  • Copy of the FIR

  • Original bills and receipts of car repairs

 

Now it’s time to understand how you can file a claim. There are two ways to claim your Mitsubishi Lancer car insurance:

 

  • Cashless Claim for Car Insurance Policy

Here, your damaged Lancer can be repaired at any network garage mentioned in the car insurance policy. The insurer will settle the repair expenses directly with the garage.

  • Reimbursement Claim for Car Insurance Policy

Here, your damaged Lancer can be repaired at any garage of your choice. You will have to bear all the repair expenses and then file a claim for reimbursement against your Lancer car insurance policy. The insurer will assess your claim and transfer the settlement amount to your registered bank account.

 

Read more: Car Insurance Claim Process

How to Reduce Your Mitsubishi Lancer Car Insurance Premium?

You can reduce your Mitsubishi Lancer car insurance premium with these simple tips:

 

  • Service Your Mitsubishi Lancer

An easy way to reduce your car insurance premium is to maintain your Mitsubishi Lancer in good condition by getting it serviced regularly.

  • No Claim Bonus (NCB) Rewards

Use your NCB rewards to get a reduced car insurance renewal premium. You can earn NCB rewards by not claiming your Lancer car insurance throughout the policy tenor.

  • Do Not File Small Claims

Secure your NCB reward by avoiding Lancer car insurance claims for inexpensive repairs.

  • Install Anti-Theft Devices

You can install anti-theft devices in your Mitsubishi Lancer for an additional reduction in the car insurance premium.

  • Compare Premium Quotes

Always compare the car insurance premium quotes offered by different insurers before purchasing a policy for your Lancer.

Tips to Maintain Your Mitsubishi Lancer

  • Inspect Tyres 

Regularly inspect the car tyres for any damage, cuts, or excessive wear and tear.

 

  • Check Car Battery

See to it that the battery surface is clean and dry and ensure that there are no battery cable corrosions.

  • Maintain a Clean Engine

Your Lancer’s engine must always have clean fuel.

  • Check Fluids

Check the car’s oil, brake, coolant, and power steering fluids regularly.

Mitsubishi Lancer Maintenance Cost

You can contact your nearest authorised service centre for the exact Mitsubishi Lancer service and maintenance cost, as the price will vary in different centres.

About Mitsubishi Lancer

Before getting discontinued, the Mitsubishi Lancer was available in two fuel variants. Some of the noted features of this sedan model include power steering, power windows front, adjustable steering, anti-theft alarm, and advanced entertainment and communication systems. Let’s have a detailed look at the four-wheeler’s specifications and features.

Mitsubishi Lancer Specifications

The Mitsubishi Lancer was offered in petrol and diesel engine variants with a capacity of 1468 cc and 1998 cc respectively. The sedan was available with manual & automatic transmission. Here are some of the key Mitsubishi Lancer specifications:

Details

Mitsubishi Lancer Specs

Mileage

13.7 kmpl

Engine Displacement

1468 cc- 1998 cc

Transmission Type

Manual/Automatic

Max Power

85.8bhp@5500rpm

Max Torque

132.3Nm@3300rpm

Seating Capacity

5

Fuel Type

Petrol/Diesel

Fuel Tank Capacity

50 litres

No. of Cylinder

4

Ground Clearance (Unladen)

185 mm

Note: The actual specifications may vary depending on the Mitsubishi Lancer variant.

Mitsubishi Lancer Features

The Mitsubishi Lancer comes with a host of great features. Some of these are:

 

  • Power Steering

  • Wheel Covers

  • Air Conditioner

  • Power Windows (Front)

  • Front Fog Lights

  • Anti-Theft Alarm

Note: The actual features may vary depending on the Mitsubishi Lancer variant.

Summing Up

The Mitsubishi Lancer was discontinued in India in 2012, but you can still find the car in the second-hand market. Even though the Lancer is equipped with adequate safety features, it is important to cover your four-wheeler with the right Mitsubishi Lancer car insurance plan that will protect you financially in the event of unfortunate accidents, theft, or natural disasters. So, if you are looking to buy car insurance for your Lancer, head over to Finserv MARKETS and check the car insurance plans available for your vehicle now!


Note: Even though the Mitsubishi Lancer has been officially discontinued in India, you will still need a valid third-party car insurance plan to drive your car on Indian roads.

Check Out Car Insurance Plans Available at Bajaj MARKETS

 

FAQs on Mitsubishi Lancer Insurance

  • ✔️When was the Mitsubishi Lancer discontinued?

    The Lancer was discontinued in India in late 2012, and the car has been out of production since 2017.

  • ✔️Is it cheaper to get car insurance cover for an older Mitsubishi Lancer?

    Yes, it is cheaper to buy car insurance for an older Mitsubishi Lancer. This is because a car’s Insured Declared Value, or IDV, goes down with age due to depreciation.

  • ✔️Is it compulsory to buy car insurance for my Mitsubishi Lancer?

    Yes, as per the Motor Vehicles Act,1988, it is mandatory to have a car insurance policy for your Mitsubishi Lancer to drive on Indian roads.

  • ✔️What will happen if I do not have car insurance for my Mitsubishi Lancer?

    If you are caught driving your Mitsubishi Lancer without a valid car insurance policy, you will be charged a traffic challan. The penalty for driving your vehicle without a valid car insurance policy is ₹2,000 and/or imprisonment up to three months for the first offence. The penalty for subsequent offences is ₹4,000 and/or imprisonment of up to three months.

  • ✔️Is Mitsubishi Lancer insurance expensive?

    No, the Mitsubishi Lancer insurance may not be very expensive. You can use the Finserv MARKETS car insurance premium calculator to determine the Mitsubishi Lancer insurance price based on your coverage amount and add-on covers.

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