Motor Insurance
Motor Insurance – Drive with confidence
Motor Insurance protects you financially incase ofaccidents, theft or damage to your vehcile. It also covers third party liabilities ensuring you are protected incase of another persons losses / injuries.
Whether you are looking for a comprehensive cover, third party liabilty or something in between, our team will help you find the right policy at best prices. We offer cover for Private cars, Two wheelers, Commercial vehicles like Buses, trucks, trailers and even Trade insurance.
Motor Insurance commonly covers three major areas:
A. Own Damage: This covers any damages to your vehicle due to an accident, or natural calamities like earthquake, floods etc. This also includes complete Theft of vehicle or parts.
B. Third Party Liability: This covers your legal laibility incase your vehcile causes injuries or damages to someones else’s property.
C. Personal Accidnet to Owner Driver: This covers Accidental death and disability casued due to an accident while driving the vehicle. You could also add Personal accident and legal liability cover for paid drivers, employees etc.
There are a number of innovative add on covers available across Insurance companies. Some commonly available add on’s are:
A. Zero Depreciation / Bumper to Bumper cover: This covers pays for the depreciation costs that are usually excluded ensuring minimum out of pocket expenses.
B. Engine and Gear box: This covers damages caused to engine and gear box in an accident or natural disasters like floods etc
C. Return to Invoice: Pays the invoice value of your car incase of a total loss or theft.
D. Cost of Consumables: This cover pays for commonly excluded single use items like engine oil, lubricants etc ensuring minimum out of pocket expenses
Things to consider: To ensure you have the right coverage, we recommend to check the following:
1. Insured Declared Value (IDV): This is the value of you car isnured under the policy. Lower IDV would reduce the cost of premiums however would also lower the claim payouts in case of a theft or total loss. Do ensure you seek optimum coverage to ensure complete cover.
2. No Claim Bonus (NCB): NCB is the discount given at renewal for each claim free year. Do ensure you share the correct NCB doscunt slab. Incorrect NCB discount could lead to premium recovery or cancellation of policy. Gateway highly recommends that you keep a track of your renewals to avoid lapsation of policy. This would ensure continuous cover. We also urge that our customers follow all traffic rules and regulations as responsible citizens of the country.