HDFC Ergo Auto Insurance Review – Forbes Advisor INDIA
HDFC Ergo offers four types of auto insurance plans:
1. Third party insurance
2. Comprehensive insurance
3. Self-contained damage coverage
4. Policy on Private Car Packages
Third party insurance
This insurance covers you for legal liabilities caused by damage to a third party, damage to their car or loss of property to a third party due to your car. The Motor Vehicle Act 1988 made third party liability insurance compulsory for driving a vehicle in India.
- Individual accident cover up to INR 15 lakh available.
- Medical needs for injuries sustained by a covered third party.
- Up to INR 7.5 lakh for third party property damage.
- You can purchase the liability insurance policy online by submitting the basic documentation.
- Any contractual liability that a consumer may have incurred is not covered by the scheme.
- Damage caused to third parties or to property due to wars and nuclear risks is not covered.
- Complaints raised during speed tests or organized races are not covered.
- The premium amount starts from INR 2,072
The Insurance Regulatory and Development Authority of India (IRDAI) regulates third party auto insurance premium on an annual basis. For the year 2021, the third party automobile insurance premium is:
Back to back insurance
This is a comprehensive protection plan that gives you coverage against
A) Civil liability
B) Damage or loss resulting from natural disasters such as earthquakes, cyclones and floods, theft, fires, vandalism and accidents.
C) Injury to a third party
- Individual accident cover of INR 15 lakh
- Allows you to add coverages of your choice such as zero amortization, NCB protect, among others.
- Has over 7,500 garages networked across India where you can use your plan.
- The artificial intelligence tool called IDEAS helps users assert their claims.
- Users can also assert their claims via WhatsApp.
Self-contained damage coverage
This policy covers all damage and loss caused by accidents and collisions, natural disasters, fire and theft of your car. You must have an active liability insurance policy to purchase this policy.
Private Car Package Policy
This guarantee provides the insured with a one-year guarantee against damage caused to his car as well as a three-year guarantee against damage caused to third parties or to their property. This coverage is ideal for new car buyers.