The Mahindra XUV500 was launched almost a decade back, and two facelifts later remains a popular choice for those willing to spend little more for a premium SUV designed and built in India. The XUV500 has lots of horsepowers, four-wheel drive, power steering, and all the other advanced engineering features you expect at this level. The sporty SUV also boasts of leather seats and a large screen infotainment system that gives it a luxurious feel.
There is one more step to complete before you go offroading with your buddies. You need car insurance that protects you, your passengers, and the vehicle. At IFFCO-Tokio General Insurance Co. Ltd., we have the best car insurance policies that take away all your headaches.
Our plans stretch from third party insurance to comprehensive coverage that insures you against every possible calamity. Regardless of how much or how little you can afford, we offer a policy to suit your needs.
It is true that added expenditure makes car owners wince. But consider that you own a vehicle that costs you at least INR 16 lakhs, and a little bit more every year could provide cover for you and your asset in case of a misfortune.
If you damage another vehicle, you would have to bear the cost. But if you have car insurance, we pay the entire bill for repairs.
At IFFCO-Tokio General Insurance Co. Ltd., we have carefully crafted car insurance policies with excellent riders such as roadside assistance, cashless benefits at thousands of certified garages as well as huge no claim discounts that make car insurance easily affordable.
You could, of course, buy our policies at our nearest branch. In that case, there would be paperwork via the traditional route. On the other hand, our website offers you convenience and a hassle-free process. By spending very little time and energy, you could have a car insurance policy in hand inside a day.
Register yourself with your name and phone number. Provide us with the details of your vehicle – registration number, VIN number, manufacturer and model, date of purchase. We will provide you with various plans.
There are three basic plans and several add-ons to go with each. You select those that you require. This helps you pay for exactly what you need without added frills.
Use our checkout page to finalize the purchase and pay using a variety of online options. Your policy would be sitting in your inbox soon enough.
Buying online offers you several advantages over the conventional way. What do you get extra when you buy using our site?
Buying with a mouse click is really appealing. Completing a few simple steps provides you with the policy without any hassle.
Buy the policy from your living room at midnight if you wish. Our website is at your service all day, every day.
Your inbox instantly receives a copy of the policy. No need to store thick insurance contracts for years in a bulky folder.
Car Insurance provides coverage against:
Damages and losses that may arise out of collisions & accidents.
Coverage against losses incurred when your car is stolen.
Damages and losses caused to due to an accidental fire.
Damages and losses due to acts of nature such as floods, cyclones, etc.
Get compensation up to Rs. 15 lakh in case accident leads to death or disability of the owner
Pays for property damages and injuries caused by your car.
Here are some recommended add-ons that can widen the coverage of your Mahindra XUV500 car insurance policy.
Your car can depreciate by up to 40% in 4 years. Therefore, after 4 years, you will only get 60% of the car’s value or total repair costs in case of a claim. To avoid this, you can opt for the zero depreciation add-on with your Mahindra XUV500 insurance policy. This will safeguard your car from depreciation and ensure you get complete compensation in case of a claim.
The XUV500 is an extremely reliable car. However, even the best cars in the world can experience a mechanical breakdown. This is why it makes sense to include the Roadside Assistance add-on with your Mahindra XUV500 insurance. It will ensure that, if you are ever stranded due to mechanical failure, you can get help with just a single call.
This is another important add-on you can opt for with your Mahindra car insurance policy. This add-on protects the important parts of your engine such as the crankshaft, piston, pins, cylinder, gearbox, and so on from damage. This add-on is especially useful if you live in a low-lying area where flooding could damage your car’s engine.
If you drive safely and do not make a claim against your policy, you are entitled to a discount when you renew your plan. This discount is known as No Claim Bonus or NCB. If you continue driving safely and maintain your claim-free record, you could enjoy an NCB discount of up to 50%. However, make a single claim and your NCB discount is lost. If you wish to retain your NCB despite making a claim, you can opt for the No Claim Bonus protector add-in with your Mahindra XUV500 car insurance policy. This will ensure the NCB you’ve accumulated for years, is not lost when you make a claim.
With the return to invoice add-on, in case of total loss or theft of your vehicle, the insurance provider will pay the on-road price of your car as compensation. Whereas, with a normal plan, you would only get the IDV (on-road price minus depreciation) of your car and this decreases every year!
These are some of the standard exclusions of car insurance in India.
In the case of a Third-Party or Liability Only Car Policy, damages to own vehicle won’t be covered.
You were driving drunk or without a valid driving licence.
You hold a learner’s licence and were driving without a valid driving licence-holder in the front passenger seat.
Any damage which is not a direct result of the accident (e.g. after an accident, if the damaged car is driven incorrectly and the engine gets damaged, it will not be covered)
Any contributory negligence(e.g. damage due to driving a car in a flood, which is not recommended as per the manufacturer’s driving manual, will not be covered)
Some situations are covered in add-ons. If you haven’t bought those add-ons, the corresponding situations will not be covered.
If you want basic and affordable coverage for your Mahindra XUV500, you can opt for third party insurance. These plans do 3 things for you. Firstly, they serve the basic legal requirement to drive your car on Indian roads. Secondly, they ensure you do not have to pay for third party damages and injuries in an accident you are involved in. And lastly, they will provide a payout of up to 15 lakhs in case an accident leads to your total permanent disability or death.
However, third party insurance does not cover damages or total loss of your own vehicle. So while these plans might be extremely affordable, they do not offer any protection for your Mahindra XUV500.
If you want to give your car complete protection, on and off the road, you should purchase this type of Mahindra XUV500 car insurance. This is because, comprehensive plans are made of two components, third party cover and own damage cover. This means that they provide everything that third party insurance.
But, along with this, comprehensive plans also protect your car. These plans offer coverage against damages and total loss of your vehicle due to accidents, acts of nature, theft, and other manmade calamities. Comprehensive car insurance also allows you to choose from different add-ons that widen the coverage of your plan and provide you with increase protection from perils of the road.
You should know these important car insurance terms before you buy a Mahindra XUV500 car insurance policy.
Premium is the cost of your Mahindra XUV500 car insurance policy. It is the amount you have to pay to enjoy car insurance coverage. It is usually payable annually, except for the case of long-term plans, where it is usually paid once every 3 years.
The financial protection provided by your insurance policy is known as coverage. The coverage of a car insurance policy will vary based on the insurance provider and the type of plan you purchase.
Add-ons are extra amounts of financial protection that you can purchase to widen the coverage of your Mahindra XUV500 car insurance policy.
IDV stands for Insurer Declared Value. It is the listing price of your vehicle minus depreciation. In case of a total loss of your vehicle or theft, IDV is the maximum compensation your insurance provider will offer.
No claim bonus, or NCB, is like a reward for not making a claim. It is a discount you enjoy when you renew your plan after a claim-free year. This discount will keep increasing for every claim-free year. You can avail a maximum discount of 50% year after year for not making any claims against your policy.
Simple, just use the car insurance premium calculator. This online tool allows you to check the premium of your Mahindra XUV500 car insurance policy using some very basic information. To calculate the premium, you must provide the following details:
Until recently, innovation and insurance were rarely used in the same sentence. However, we have made it our mission to change this. At IFFCO-Tokio, we are bringing in technology to provide you with car insurance that’s quicker and more convenient.
One of the ways we’re doing this is through our QCS app, which puts a host of our services at your fingertips! You can submit claims using your nothing but your phone and get up to Rs. 50,000 in compensation in just 4 hours.
With close to 20 years of experience in the insurance industry, we have settled more than 8 lakhs claims (in FY19) with a settlement ratio of 92.65%. This is just one of the reasons why 1,00,000+ individuals entrust us with their car insurance needs.
We provide cashless services in more than 4300 garages, which are evenly spread across the country.
We offer a QCS facility under which motor insurance claims get settled seamlessly within minutes.
For 19 years, we have been servicing our customers with a wide range of insurance policies.
We settled a total of 8.61 lakh claims in FY2019 and have a claim settlement ratio of 92.65%
IFFCO-Tokio won the 2019 IDC Digital Transformer Award for India for AI-based claim assessment of damaged vehicles.
Our policies can be brought from more than 20,000 agents and branches having a wide presence throughout the country.
Through QCS App: If you wish to make a claim for compensation, you can do so using our QCS (Quick Claim Settlement) App. All you have to do is upload the photos, documents, videos, etc., of the damages you want to make a claim for. We will review the documents you upload and approve your claim (we have a claim settlement ratio of 92%). After this, the estimated amount for repairs will be sent to your bank account in just 30 minutes. Note that for claims made through the app the maximum claim amount will be Rs. 50,000.
Online and telephonic claims: You can register a claim for compensation online or by reaching us on 1800-103-5499 or 0124- 4285499.
To make a claim online, you will have to log in with your registered Email ID and Password. When you log in, just find the ‘make a claim’ option and follow the steps mentioned. If you register a claim over a call, our customer care executives will guide you with the further procedure.
I bought zero depreciation car insurance from IFFCO-Tokio and I am truly relieved to see that I get the entire claim amount without the depreciation of my car being taken into consideration.
Rated by: Pradeep Agarwal
When my car suffered an accident and incurred damages I was glad to have the support of IFFCO-Tokio in paying the bills.
Rated by: Sagar AGARWAL
IFFCO-Tokio has been a great help every time my car has suffered a mishap. I am very satisfied with my car insurance purchase.
Rated by: Rakesh AGARWAL
I want to thank Mr Dipesh for assisting me in the process to buy the exact kind of car insurance I needed. IFFCO-Tokio staff is indeed very reliable.
Rated by: Sachin Agarwal
Good coverage at pocket-friendly rates. What else could one want in a car insurance plan
Rated by: SEKHAR Abbasi