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Why is It Important to Insure Your Maruti Car?

No matter how good a driver you may be or how well you maintain your Maruti Car, there are always certain risks that you will be exposed to. Dangers such as accidents, injury, theft, natural calamities, malicious acts, vandalism etc. will always be beyond your control.

A comprehensive Maruti car insurance policy will provide coverage to your car against all such risks by compensating the damages caused to your car. Besides, having a Third-Party Four-Wheeler Insurance is now mandatory in India under the Motor Vehicles Act, 1988. 

Therefore, in order to enjoy joyous and carefree long drives in your Maruti car, it’s essential to protect it with a tailor-made Maruti insurance. Finserv Markets offers comprehensive car insurance policies with extensive coverage for all Maruti Car Models.

Types of Maruti Car Insurance

There are two types of car insurance plans available in the market.

  • Third Party Car Insurance

  • Comprehensive Car Insurance

Third Party Car Insurance

It is also known as liability only coverage and is mandatory by law under the Motor Vehicles Act, 1988. Third party insurance covers any injury or death of the third person due to your vehicle in an accident. It also covers damage caused by your car to third-party property.

However, the coverage provided under third party insurance is limited. It only protects you against third party liabilities. Any damage incurred by your vehicle in case of an accident is not covered. 

Comprehensive Car Insurance

Since third party insurance only covers for third-party loss/damage, what do you do to safeguard your precious possession? This is where a comprehensive car insurance plan comes into the picture. Let us understand what that is.

A comprehensive car insurance plan will financially protect your vehicle in case of accidents, theft, or loss incurred due to natural and man-made disasters. It also covers all the third-party liabilities and offers personal accident cover to the driver.

Maruti Insurance Price For Popular Maruti Car Models

Maruti

Sr No

Model

Engine cc

TP Rates

1

Maruti Suzuki Alto

800

2,072

2

Maruti Suzuki Wagon R

998

3

Maruti Suzuki Swift

1197

3,221

4

Maruti Suzuki Baleno

1197

5

Maruti Suzuki Dzire

1197

Several factors are taken into consideration when determining car insurance premiums. Some of these factors include -

  • Manufacturing year of the vehicle

  • Your residential area

  • Installation of anti-theft devices

  • Insured Declared Value (IDV)

  • The cubic capacity of the vehicle

  • No Claim Bonus (NCB)

  • Make and model of the vehicle

You can now get a quote on comprehensive car insurance plans by simply visiting Finserv MARKETS online. Provide the necessary details such as your contact details, car manufacturing year, and the type of car insurance plans you want to buy. After this, you will receive the premium quote within a few seconds for the selected policy.

Why Choose Finserv MARKETS For Maruti Car Insurance?

Besides offering monetary compensation for the damages caused to your car, a Maruti Suzuki insurance policy from Finserv Markets offers you the following benefits:

  • Cashless Settlement - Get cashless repairs done for your car across a wide range of network garages on your Maruti insurance renewal

  • Fast and Reliable Repairs - Get your car back on the roads with 24x7 roadside assistance car service.

  • 24/7 Claims Assistance - With one of the swiftest car insurance claim processes, rest assured while filing an insurance claim in case of any mishap.

  • Roadside Assistance - Get 24/7 roadside assistance which includes services such as emergency repairs, towing facilities, storage facilities etc.

  • Car Hire - Hire a temporary car within your insurance claim in the event of a theft or a major car accident.

  • Online Insurance Renewal - At Finserv Markets, getting a Maruti insurance renewal online is only a matter of a few minutes.

  • Discounts - Avail discounts and rewards during Maruti insurance renewal online

To check the car insurance premiums for policies available on Finserv MARKETS, use the car insurance calculator. The tool helps you determine the premiums and compare the prices of car insurance plans offered by other insurers as well. That way, you will be able to make an informed decision. 

Inclusions In Maruti Car Insurance Policy

The Maruti car insurance plan available on Finserv MARKETS covers the following things 

  • Damage due to fire explosion self-ignition or lightning

  • Damage due to burglary, housebreaking, or theft

  • Damage due to Riot and Strike

  • Damage due to Earthquake (Fire and Shock Damage)

  • Damage due to Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm, frost

  • Damage caused by accidental external means

  • Damage due to malicious acts

  • Damage due to terrorist activity

  • Damage whilst in transit by road, rail, inland, waterway, lift, elevator or air

  • Damage due to Landslide/Rockslide

Exclusions In Maruti Car Insurance Policy

Just like any other car insurance plans, this too has certain limitations. The things not covered under the Maruti car insurance plans are as follows -

  • Damage or loss caused outside the designated geographical area in the insurance policy

  • Claims arising out of any Contractual Liability

  • The accidental losses incurred if the vehicle was being used for speeding, riding someone else’s bike, under the influence of alcohol etc

  • Any damages caused directly or indirectly by ionizing radiation or contamination by radioactivity from any nuclear fuel or any nuclear waste

  • Any accidental loss or damage caused by or contributed due to nuclear weapons

  • Any accidental loss or damage arising out of or in connection with the Invasion by foreign enemies, hostilities or Warlike operations (whether before or after the declaration of war), Civil War, Mutiny Rebellion, Military or usurped power

Add-On Covers For Your Maruti Car Insurance

Along with your comprehensive car insurance, you can purchase additional covers that provide extensive protection to your vehicle. These add-ons are optional, and you can choose the ones that are most needed.

Let us take a look at different add-on covers available for Maruti car insurance

  • Zero Depreciation: With a zero depreciation car insurance add-on cover under your name, your insurer will not consider the depreciation value of the car when making a claim. In the absence of this cover, the compensation is paid as per the current market value of the car. Zero depreciation cover allows you to receive the full amount in compensation in case of loss/damage to your vehicle. 

  • Return To Invoice: ROI will ensure that you receive the invoice value of your Maruti car in case it is lost/stolen. The invoice value is nothing but the amount you paid at the time of purchasing the car. The insurer will compensate for the actual value of the vehicle along with the registration charges and road tax.

  • No Claim Bonus Protection Cover: Every time you make a claim, you lose the NCB earned on your insurance plan. However, with the NCB protection cover, the NCB earned remains even after making a claim. 

  • Consumable Expenses: Consumables include the items used for the proper functioning of the vehicle’s engine and other parts. These items are the engine oil, gearbox oil, nut and bolt, screws, distilled water grease, brake oil, oil filter, bearings, washers, AC gas, etc.

  • Engine and Tyre Secure: With this cover, you are adding safety to your engine and tyres. So, in case of replacement/repair, the insurer will compensate you for the expenses incurred. Also, any damage to the internal parts such as the engine, gearbox, and transmission is covered.

Modes of Buying Maruti Car Insurance

There are two ways in which you can buy Maruti car insurance at Finserv MARKETS.

  • You can either get in touch with us by visiting our branch.

  • Visit Finserv MARKETS online.

It is highly recommended to buy car insurance online as you can do so from the comforts of your home and on the go. The buying process is easy and hassle-free, as well. Read on to buy car insurance at Finserv MARKETS.

How To Apply For Maruti Car Insurance Online?

Just follow the steps given below 

  • Visit Finserv MARKETS online

  • Fill the application with the relevant details

  • Choose the car insurance plan you want

  • Make an online payment

  • The policy will be issued in no time

How To Renew Maruti Car Insurance

To continue to reap the benefits of your Maruti car insurance, follow these steps 

  • Visit Finserv MARKETS online

  • Enter your registration number and contact details

  • Check your Maruti car insurance renewal premium

  • Make the payment online

  • Download the policy copy

Do not forget to avail the No Claim Bonus (NCB) discount at the time of Maruti insurance renewal. However, note that NCB is earned on a claim-free policy term.

Things To Keep In Mind While Renewing Maruti Insurance Online

Be mindful of the following things during Maruti insurance renewal online:

  • Review Your Car Insurance Coverage

In case you are not satisfied with your existing coverage, you can choose to increase or decrease the coverage amount during Maruti insurance renewal online. Moreover, you can opt for other add-on covers on your comprehensive Maruti car insurance policy to enhance its coverage. But note that opting for add-ons on your comprehensive insurance policy comes at an additional premium rate over and above your existing premium amount.

  • Review Your Provider During Maruti Insurance Renewal

When reviewing your Maruti car insurance coverage, ensure that you are reviewing the facilities of your car insurance provider as well. Look for an insurer that provides hassle-free online renewals, has a wide range of network garages across India with easy cashless claim settlements, 24x7 car assistance, etc. Lastly, make sure that your insurer is certified by the Insurance Regulatory and Development Authority of India (IRDAI) and has a good claim settlement ratio.

  • Avail No Claim Bonus (NCB) Discount

For every claim-free year, the insurer rewards you with NCB benefits. This benefit can be used to avail discounts on your policy premium at the time of Maruti car insurance renewal. Note that NCB is an incremental benefit and can go up to 50%, especially if you do not claim on your policy for five consecutive years.

  • Renew Your Policy Before Expiration

Driving your Maruti car without an active car insurance policy is a punishable offence under the MV Act, 1988. So, Maruti car insurance renewal failure will lead to policy lapse. Once the policy lapses, you will have to buy a new Maruti car insurance plan altogether and undergo a vehicle inspection process as well. This might result in an increased premium rate as well as losing out on your earned NCB benefits. 

Maruti Insurance Claim Process

Whether your car is vandalized, damaged in a collision or by some other peril, you would need to take it to the nearest network garage if it is in a working condition, or else have it towed there to avoid any further damage. 

Once you send your car for repair, you can file a claim with us. With Finserv MARKETS, you can file a car insurance claim in two ways

  • File a claim online by visiting our Claims page and providing the necessary details.

  • You can also file a claim by calling our Toll free number - 1800-209-5858, after which you will be connected to our customer care executive who will guide you through the entire car insurance claim process.

About Maruti

Maruti Suzuki India Limited is a renowned automobile manufacturer in India. The company is a division of the Japanese car and motorcycle manufacturer Suzuki Motor Corporation. Maruti Suzuki is headquartered in New Delhi and boasts of a market share of over 53% of the Indian passenger car market. 

Since the company introduced India’s first small passenger car – the Maruti 800, it has been spearheading a revolution of change in the Indian Automobile Market. It launched the Maruti Swift Dzire, which became one of the most affordable sedans in India. 

As compared to other players in the automobile market, Maruti Suzuki is known for offering affordable and maintenance-free and high performing vehicles.

Most Popular Maruti Car Model

  • Maruti Suzuki Alto:

The Maruti Suzuki Alto is one of the bestselling entry-level hatchback cars in India. Currently, the eighth generation Alto 800 is powered by an efficient 800 CC engine that offers impressive fuel economy and is perfectly suited for Indian roads.

  • Maruti Suzuki Swift:

 Launched in the year 2005, the Maruti Suzuki Swift became the market leader in its segment ever since. The trendy car offers great fuel efficiency and boasts of stylish front grills, chrome-finished logo, large headlamps and side mirrors with integrated blinkers. Protect your vehicle with our Maruti Swift Insurance

  • Maruti Suzuki Wagon R:

The Maruti Suzuki Wagon R is one of the most popular compact hatchbacks in India that offers impressive mileage and carries a competitive price tag. The latest version of the Wagon R boasts of new features such as a dual-tone dashboard with beige inserts, 2 din stereo with Bluetooth and rear seat power windows. Protect your vehicle with our Maruti Wagon R Insurance

  • Maruti Suzuki Baleno:

The Maruti Suzuki Baleno is a sporty hatchback car which offers impressive driving dynamics and ABS standard infotainment system, which makes it one of the best car models in its segment.

  • Maruti Suzuki Dzire: 

The Maruti Suzuki Dzire is one of the most popular Sedans in India. It is available in over 16 variants including 8 diesel and 8 petrol variants. The sedan is available in both manual and automatic transmissions.

Check Out Car Insurance Plans Available at Finserv MARKETS

Manage all your queries here

  • ✔️Is it compulsory to buy car insurance?

    Yes. As per the Motor Vehicles Act of 1988, it is mandatory to have third party car insurance under your name. However, third party insurance provides limited coverage. For extensive coverage, opt for comprehensive car insurance. It covers all the third-party liabilities as well as damage to your vehicle in case of accidents. Q
  • ✔️Can I issue a car insurance plan for less than a year?

    No. Maruti car insurance at Finserv MARKETS is provided for one full year.
  • ✔️Is Maruti car insurance transferable?

    Yes. You can transfer your Maruti car insurance from your existing car to a new Maruti car. All you have to do is apply to your insurer in writing. The insurer will help with the process as well as the details you need to provide (if any).
  • ✔️Will the Maruti car insurance cover me if my car is stolen?

    Yes. A comprehensive car insurance plan will compensate you for the loss incurred if your Maruti car is stolen. All you have to do is lodge an FIR at the nearest police station and submit the claim. Upon further verification and approval, the insurer will pay the settlement.

  • ✔️Does Maruti car insurance provide a cashless claim settlement?

    Yes. You can avail cashless claim settlements at any of the listed network garages. The insurer will provide you with the network garages list when buying the policy. It is ideal to consider an insurer with a wide range of network garages across the country.

  • ✔️Is Maruti car insurance expensive?

    No. However, you can use the car insurance premium calculator to determine the cost of the policy based on the coverage and add-on covers you want. 

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