Car Insurance

Managing the Risk

Did You Know?• Every day, there are 3300 deaths and

6600 serious injuries on the road in the world

• 1.27 Million People in India sustain serious injuries due to road traffic

• Although India has only 1% of the world’s motor vehicles, but it accounts for 6% of the total global RTA deaths

What is Car Insurance?o Car insurance is an

Arrangement between an individual (consumer) and an insurer (insurance company)

o Protects an individual against loss due to theft or traffic accidents

o It provides financial compensation to cover damage caused

Benefits of Motor Insurance

• Provides economic safety net• Covers the bills of vehicle repairs• Provides appropriate death benefits

Insurance Rate Influences

• Following categories influence your car insurance premium the most:

• Driving Recordo The cleaner your driving record, the lower your premium

• Ageo People under age 25 pay higher premiums

• Gendero Men have more accidents, rates may be higher

• Marital statuso Married drivers have fewer accidents, so rates are lower

Save Money !!

• Shop around for best deals• Select coverage that suites you• Opt For highest deductibles• Avoid expensive or high-performance vehicles• Enquire and take advantage of discounts