Maruti Insurance

In India, it is mandatory to get insurance for commercial vehicles so it is compulsory to get Maruti insurance. This is because even the most basic type of insurance plan provides financial protection in case of damage or loss to a third-party person or property due to an accident or collision by the insured commercial vehicle.

Popular Maruti Commercial Vehicle Models with Insurance Price

Disclaimer: The Maruti Insurance Price for different Commercial Vehicle models may vary according to the IDV, the capacity of the engine, RTO, type of fuel, registration year, etc.

Reasons to Buy Maruti Insurance Policy

Here are the reasons to buy Maruti insurance:

• As per the Motor Vehicle Act, 1988, it is compulsory to get the insurance of a vehicle before plying it on the Indian roads. Therefore, one has to have at least a third-party liability insurance policy for his/her commercial vehicle.
• A commercial vehicle insurance policyprovides insurance coverage against losses and damages to third-party persons or property such as in an accident or collision by the insured vehicle.
• Coverage against loss or damage to own vehicle is also provided.
• Personal accident cover for driver, occupant, and owner is offered.
• Maruti Insurance's online purchase process is simple and quick.
• The claim settlement process of Maruti Insurance is hassle-free and fast.
• One can easily renew his/her Maruti insurance policy online.

Types of Maruti Insurance Policy

Third-Party Insurance: A third-party insurance is the most basic type of insurance plan with which one can insure his/her commercial vehicle. Moreover, as per the law, it is mandatory to have at least third-party liability insurance for commercial vehicles. Under this type of insurance plan, one gets coverage against loss or damage to third-party property or person by the insured vehicle in case of an accident or collision.

Comprehensive Insurance: It is an optional type of insurance policy as it is not mandated by law. However, vehicle insurance experts suggest buying a comprehensive insurance policy as it offers insurance cover for both third-party and insured vehicles against loss and damages.

Inclusions of Maruti Insurance Policy

The inclusions of the Maruti Insurance policy are as follows:

• The Maruti Insurance policy provides coverage to the insured vehicle in case of loss or damage incurred to it due to:
  • Riot, strike
  • Earthquake
  • Malicious act
  • Theft
  • Terrorist activity
  • Landslide, rockslide
  • Fire explosion, self-ignition, or lightning
  • Housebreaking
  • Accident due to any external means
  • Burglary
  • Storm, hurricane, flood, typhoon
  • Hailstorm, frost, inundation
• Third-party liability insurance offers coverage against bodily injury or death to a third-party person or damage to third-party property by the insured Maruti commercial vehicle.
• Most of the insurers also provide personal accident cover to the driver, owner, and co-passengers of the commercial vehicle.

Additional Covers in Maruti Insurance Policy

Additional covers are as well called rider benefits that can be added to the basic insurance policies for enhancing their coverage. However, for the same one has to pay an additional premium. Some of the common additional covers for Maruti insurance policy are as follows:

• Additional Cover to Protect Engine:It is one of the most useful add-ons wherein the policyholder gets coverage for the engine of his/her Maruti commercial vehicle and its various parts.
• No-Claim Bonus Protection Add-On Cover:A policyholder of Maruti Insurance gets the benefit of ‘No Claim Bonus’ or NCB in case of not making any claim for the entire policy tenure. However, if he/she makes even a small claim, the NCB gets removed from his/her bonus. Therefore, to protect the NCB, it is recommended to opt for No Claim Bonus protection.
• Zero Depreciation Add-On Cover:All the vehicles depreciate with time and the commercial vehicles depreciate even faster. The reason for the same is their rigorous use. The depreciation plays a major role when one makes a claim as he/she does not get the full cover as the depreciation of the vehicle is also added to it. However, to avoid this and to get full compensation when one makes the claim, zero depreciation add-on cover works as a boon.

Apart from these three, there are many other additional covers provided by most of the vehicle insurance providers like roadside assistance, return of invoice, etc.

Exclusions of Maruti Insurance Policy 

The exclusions of the Maruti Insurance policy are as follows:

• Any kind of mechanical or electrical breakdown is not covered.
• Consequential losses are not covered in a Maruti Insurance policy for commercial vehicles.
• Any kind of loss or damage incurred to a Maruti commercial vehicle by a person who is driving it under the influence of alcohol or other intoxicating drug is not covered.
• Losses or damages incurred to Maruti commercial vehicle by a person who is driving it without a valid driving license.
• Other exclusions according to the commercial vehicle insurance policy wordings.

How to Buy Maruti Insurance Online

Now when almost everything is available online, one can also buy an insurance policy for his/her commercial vehicle online. Here are the steps to buying a Maruti insurance policy online:

• Go to the commercial vehicle insurance page and click buy commercial vehicle insurance.
• Provide all the required details of the commercial vehicle like its make and model, its manufacturing details, its RTO information, and the type of insurance like comprehensive/third-party insurance, details of the claim, etc.
• Soon after providing the aforementioned details, one becomes eligible to select the quote from the list of insurance providers for Maruti commercial vehicles.
• After this one has to select an insurance policy as per his/her needs and then make the payment online.
• The policy is then e-mailed to the registered email id of the insured or one can download the Maruti Insurance policy as well.

How to Renew Maruti Insurance Online

The steps to renew Maruti Insurance policy online are as follows:

One should submit the policy renewal form of Maruti Insurance with the following information. After which insurance provider’s representative will get in touch with him/her:

• Name of the policyholder
• His/her mobile number
• His/her email-id
• His/her landline number
• Model of Maruti vehicle
• City of registration of the Maruti commercial vehicle
• Whether the last Maruti Insurance policy was expired or not
• Year of registration
• Insurance policy type:
  • Buy an insurance policy for a brand new Maruti commercial vehicle
  • Renew an existing Maruti Insurance policy
  • Renew an existing Maruti Insurance policy from a different insurance provider

Maruti Insurance Policy Claim Procedure

• When a policyholder wants to file a commercial vehicle claim, the first step he/she has to take is to inform the insurer at its toll-free number.
• For cashless claim settlement of Maruti Insurance, an insured has to fix an appointment with the insurance provider’s surveyor. After the successful survey, the Maruti commercial vehicle is taken to any of the network workshops of the insurer for repair.
• A policyholder has to give all the required documents to the surveyor.
• The insurer can confirm the liability only after that.
• If the policyholder opts for the cashless claim settlement service, the Maruti insurance provider will settle the claim directly with the network workshop.
• However, if the insured avails of the reimbursement option, then he/she requires to settle the claim cost first by self. Later, he/she can submit all the necessary original bills along with the claim form to the insurance provider for settling the claim.

Documents Required for Maruti Insurance Claims

• Filled and signed claim form
• Copy of the registration certificate
• Copy of the driving license
• FIR’s copy
• Repair estimate
• Load challan
• Commercial vehicle’s permit

Maruti Insurance Policy FAQs