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In this case there are two options.
  • The buyer can get the policy transferred in his name by applying to the insurance company in which case an endorsement is made to the policy. However, the no claim bonus(NCB) on the policy is not transferred and the difference has to be paid. NCB is retained by the seller.
  • You can cancel your policy and the buyer can buy a new policy. You will get a refund for the unexpired / unused period provided there is no claim on the policy. In this case too, you can retain your NCB and transfer it to your new insurance policy if you have purchased another vehicle. The buyer can transfer NCB in his previous policy to his new one. Please note that your policy will be cancelled only if the insurance company is provided with the proof that the vehicle is covered by another policy.
Also you can transfer the policy to your new vehicle and the unexpired premium amount can be adjusted accordingly.
For any change or correction in registration address/ Vehicle Information you need to submit RC copy along with a request letter.
  • For Addition of Hypothecation: Letter from the bank / Endorsed RC copy has to be submitted.
  • In case of Deletion of Hypothecation: NOC / Endorsed RC copy has to be submitted to the branch or scan the documents and email same to insurance company.
For Transfer of Insurance from one owner to another you need to submit the below mentioned documents.

Transfer of Policy (Sale of Vehicle)
  • New RC copy /form 29-30
  • Old policy document
  • NOC from the previous insured
  • Rs. 50/- transfer fee
  • New application form. (New application form are provided at the branch)
  • Inspection of vehicle
NCB difference amount
If you are buying a new car and want to transfer your existing policy over, you would need to contact us at our customer services department and amend your current policy. There may be a variation in price and a change in underwriting criteria for the new car. Sale letter of your old car and third party insurance cover for old car may be required.
They are same.This is the term used to describe the discount insurance companies give policyholder when they have not made any claim.This is usually expressed in %.
The percentage of NCB earned on a vehicle owned by an institution during the period when it was alloted to and exclusively operated by an employee should be passed on to the employee if the ownership of the vehicle is transferred in the name of the employee.

This will however require submission of a suitable letter from employer confirming that prior to transfer of ownership of the vehicle to the employee,it was alloted to and exclusively operated by the employee during the period in which the NCB was earned.
An insured may be granted NCB on a new policy taken out in india as per entitlement earned abroad,provided the policy is taken out in india within three years of expiry of the overseas insurance policy,subject to relevant provisions of NCB under these rules.
Voluntary deductible is the minimum amount that you declare to bear at the time of claim. When you opt for a higher deductible, you are eligible for a higher discount. There is an inverse relationship between the deductible and the premium. When voluntary deductible increases, the amount of premium falls.

If you opt this, this is the amount that you have to compulsorily bear during the event of a claim e.g. if your claim amount is Rs. 20000 and the voluntary deductible is Rs. 3000 then you have to bear the first Rs 3000 and the claim will be worth Rs 17000.
IDV is Insured's Declared Value and is estimated on the basis of the manufacturer's listed selling price of the model and Variant of the vehicle (and additional accessories) at the commencement of the car insurance policy after adjusting for depreciation for every year.

If the car is stolen or totally damaged and beyond repairs in an accident, the claim amount payable is determined on the basis of the IDV. Hence it's very important Car is insured for correct IDV.

IDV = Ex-Showroom price plus sales tax minus depreciation, registration, and insurance.

Most of the insurance companies allows deviation of (+/-) 10% of estimated IDV Value. Higher the IDV value chosen higher will be the premium.
An additional CNG/LPG kit fitted in a vehicle needs to be insured separately. It needs to be declared at the time of proposal.
Third party policy covers the following risks:
  • Death or injury to a third party.
  • Damage to third party property.
  • Liability in the case of death or injury is unlimited.
Comprehensive insurance policy covers your vehicle against following risks:
  • Natural calamities.
  • Man-made calamities.
  • Personal accident.
  • Third party legal liability.
  • Any permanent injury /death of a person.
  • Any damage caused to property.
You can still renew your policy after your vehicle inspection is complete. Insurance companies may apply additional loading on premium if policy has expired 45 days earlier.
Copy of Previous Policy

Registration Certificate (RC book)
Yes, You can renew your car insurance with any other insurer, including the No Claim Bonus (NCB) accrued with your earlier insurer.
If no claim is made during the policy period, No Claim Bonus (NCB) on OD premium is offered on renewals by insurance Companies. This reduces your premium to a great extent.

However, it should be noted that NCB would be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.
You should read this interesting blog to learn ways to find the best family floater health plan in India. For more information you can call on our toll free no 7733887733.
I have already purchased a Health insurance policy. Kindly how long it takes to receive the hard copy of the policy?
Policy coverage will not be available for someone with pre-existing critical illness. However, you can still share the complete medical history of that person with us to check all the options out. You can call us on our toll-free no 7733887733.
Almost all health policies offer cashless facility. To pick the best plan, you can compare all available health insurance policies easily on our portal. Here is the link to the health insurance section of our website. https://www.auassure.com
Yes, health insurance policies come with portability option. To know details about health insurance portability you can call us on our toll-free no 7733887733.
Since you want an individual health plan here is an interesting blog that you should read. You are also requested to follow the link below and compare some individual health plans by entering some basic details so that you can select the best individual mediclaim policy in India. https://www.auassure.com
In case your parents are senior citizen here is a good blog to give you a clear idea about best senior citizen health plans available in India. You can also visit our portal and compare available family health policies in terms of premium, features and benefits and pick the best plan as per your requirements.
Here is an interesting blog that you should read to learn ways to lower the premium of individual health policy. You are also requested to visit the health insurance page on our portal. You can compare multiple health policies in terms of premium to pick the one with lowest price.
Our representatives will contact you shortly to look after your policy requirements. For more information you can call on our toll-free no. 7733887733.
You can make claims if the treatment is covered in the plan. Read the policy terms regarding pre and post hospitalization.
Car manufacturer means various companies like Ford, Maruti and Suzuki. And model means a particular model of a given car company. For an example, if you have a Ford Ikon car; Ford is the company and Ikon is the model.
Yes, it is possible. To discuss about this in details you can call on our toll-free no. 7733887733.
You are requested to follow the link provided below and enter some basic details about the type of health policy you want. You will be provided with multiple plans with all details so that you can compare and select the best plan.
You can go through this blog to know how to find the best health plan for an individual. You are also requested to visit our website and compare available individual plans to pick the best individual health insurance policy in India.
Travel Insurance ( Overseas Mediclaim ) provides coverage for medical expenses incurred overseas for any treatment received as an inpatient or outpatient. All plans also cover trip related exigencies like trip delays, trip interruptions, trip cancellations and related problems that may arise during your trip. Some plans also provide services such as travel-related advice, Medically required Evacuation to your home in India or a hospital overseas for continued medical treatment. Other assistance services include providing emergency cash or help in the event of the loss or theft of your money, valuables or travel documents.
You have an option to compare different Travel Insurance ( Overseas Mediclaim ) policies online in Www.auassure.com and then choose the cheaper one according to your requirements. As an insured, please note that "cheap" may also mean limited insurance coverage. So kindly evaluate and decide the cover requirement based on your age, destination and duration of travel and then look for the most affordable option.
Buying Travel Insurance ( Overseas Mediclaim ) online is easy. All you need to do is, follow the instructions on our website, enter your personal details and buy using your credit card. The purchase is done on a secure page, and your credit card information is safe.
The insurance can be purchased from anywhere across the globe as long as the traveler is still in India. A son or daughter sitting in the United States or the United Kingdom can purchase insurance for their parents who are traveling from India.

All the relevant details about the policy is available online, so you can make an informed decision while purchasing the plan, and not depend on the decision of your travel agent or insurance agent.

Buying business insurance online saves time as it is convenient and can be completed in a matter of minutes without any paperwork. Purchasing online is environmentally friendly as there is no paperwork involved.

You can also use the compare Travel Insurance ( Overseas Mediclaim ) tool, where you can compare Travel Insurance ( Overseas Mediclaim ) policies offered by several companies under one roof and buy the policy you like.
No, you do not pay anything additional. You pay only for the cost of the insurance policy. Our online facility provides the best prices, you cannot get a lower price for the same product anywhere else.
You can always save money by comparing quotes of different insurance policies. There are many insurance companies offering attractive policies, you can compare the different plans using our Indian Travel Insurance ( Overseas Mediclaim ) comparison facility. Select the policy suitable to your budget and requirements. If you travel overseas regularly then the annual multi-trip policy probably works best.
You can purchase using either credit card, debit card or cheque on our website.
No, there is no such requirement to getting medical test for Travel Insurance ( Overseas Mediclaim ). Some companies might ask for medical tests for travellers more than seventy years for higher coverage. Coverage often to fifteen thousand dollars is provided without medical tests.
For most of the travel policies offered on our website, there is no need for providing medical records. If medical records are required then it’s clearly mentioned.
You will receive the policy document by email and a hard copy of the same document will also be sent to your Indian address by courier.
In case the courier is delayed, you can use print out the electronically sent soft copy which is a legal document and is fully valid.
In case the policy has not yet started then contact the company and request for the cancellation. If the policy has already started then you have to get in touch with the company and provide all the pages of the passport as proof that you have not travelled overseas. In both the cases the cancellation charges is Rs.250/- per policy.
The insurance policy will provide details for filing a claim. You should submit the claims form along with all other relevant documents (medical bills, doctor’s records ...) to the claims office. There will be a claims support telephone number who can assist you in this process.
TATA AIG, Bajaj Alianz, Reliance, HDFC Ergo, Religare, ICICI Lombard, Iffco Tokio, Cholamandalam, Apollo Munich and Future Generali are some of the companies we work with.
Personal accident insurance policy provides compensation to an insured person against various injuries, death disability, Weekly benefit, Education cess resulting from an unfortunate accident, or any external and visible events.
Personal accident insurance policy provides compensation to an insured person against various injuries, death disability, Weekly benefit, Education cess resulting from an unfortunate accident, or any external and visible events.
Personal accident insurance or PA insurance is specifically designed to protect you against any accidental injury such as permanent disability, accidental death, broken bones, burns due to an accident etc.
It is not mandatory to procure personal accident cover for car insurance. However, you can opt for personal accident since nothing in life is guaranteed any anything can happen.
There are mainly five common types of car insurance coverage :

  • Liability Coverage
  • Collision Coverage
  • Comprehensive Car Insurance
  • Personal Injury Protection Coverage
  • Auto Medical Payments Coverage
  • Uninsured/Underinsured Motorist Coverage
Since you can’t foresee your future and can’t predict what your medical bills will be when you suffer from an accidental injury all of a sudden, it is wise to have personal injury protection.
You should have bodily injury coverage of at least 10times of your annual Income.
The difference between bodily injury and personal injury protection (PIP) is that bodily injury is liability coverage that compensates the people you are legally responsible for hurting while personal injury protection covers only your own medical expenses.
When you meet an accident, PIP or personal injury protection covers only medical expenses, rather than any property damage. PIP (Personal Injury Protection) also stands for no-fault policy since it covers the insured person regardless of who is at fault in an accident.
It is not necessary for anyone to have Personal Injury protection insurance, though some states stress on carrying a minimum level of this insurance.
If you have health insurance, your medical expenses will be paid upto a certain limit as per your health insurance policy. However, if you have a minimal health insurance or no health insurance at all, personal injury protection can ensure you to pay for your medical bills.
Personal injury protection or PIP on auto insurance pays for the medical expenses to an insured person, whether the person is at fault in an accident or not.
Personal injury is a term which is used when a person suffers an injury, disability, or even death, typically due to the negligence of an individual or organization.
Bodily injury is liability coverage and it is a part of your auto insurance policy. Bodily injury coverage pays for the costs associated with injuries to the other person or people due to an accident for which you are found legally responsible.
Home insurance plans provide coverage for damage of the house or contents inside the house. You can avail a home insurance policy with extended cover that offers protection for accidents that are likely to take place in households. Although, buying a home cover seems meaningless, it is in fact useful. Especially after the recent incident of earthquake and other natural calamities house insurance plans have become essential. You shouldn't wait for a disaster to ruin your house; you should rather go for a home insurance in India beforehand
There are many benefits of securing a suitable home insurance policy. Aside from the peace of mind for keeping your property intact, there are many other facilities that come with a house insurance cover. You can get repairs done on emergency basis and if your house gets damaged, expenses for staying outside your residence will be covered under your house insurance plan. If you choose to buy an online home insurance policy you can easily avoid the hassles of submitting a bunch of documents as online purchase of home insurance in India involves in minimum documentations. Furthermore, the premium that you have to pay every year is negligible compared to the value of your household and assets inside.
  • You can reap maximum benefits without having to spend a lot on a home insurance policy
  • You can rest assured of getting lowest annual premium quotes on best home insurance plans
  • Availability of a wide range of comprehensive home insurance in India with maximum coverage
  • It just takes a few minutes to compare home insurance plans to get hold of the best home insurance policy quotes available
  • You will be informed about all the offers and discounts available on premium
  • Top house insurance covers are in store for rented residences as well
  • The coverage of a home cover encompasses valuable assets inside the household too
Your selection of cover worth should be according to your needs and budget. You can pick assets that you want to insure and keep them under the coverage. The coverage amount of a particular home insurance in India is determined either by the product's current market value or by the reinstatement value. The coverage of the best home insurance plans also includes personal accident. Personal accident cover offers compensation in case of death or permanent disability of the insured people.
Even though, best home insurance plans provide extensive coverage there are some exclusions as well. Home insurance in India doesn't cover radioactive contamination and damages due to nuclear explosive equipment. Moreover, policyholders are not supposed to get compensation for damage of assets due to war, invasions or military activity and the likes. Aside from these pre-specified exclusions, house insurance plans are a great support during bad times.
Visit www.auassure.com. Our Web portal provides you online issuance of insurance, you have to login there and give the details of your product which you want to buy. At auassure.com you will find various insurance companies comparison for purchase of your product.
In traditional policy person has to visit insurance company or insurance agent office for purchase of insurance. Through online issuance of policy he can buy different products online without visiting agent or insurance company office. Online policy issuance provides comparison of various insurance companies, various products, premiums etc., And Payment of Insurance Premium can be made using Credit / Debit Card for Online issuance of policy.
You will find various sites for online issuance of policies. At velociti.in you will find user friendly interface for issuance of policy. You will find various insurance companies comparison of Premium and benefits so that you can buy best product. Paying through Credit card you can make the payment of your policy.
Currently at our portal you can buy Travel Insurance & Motor Insurance. Shortly we will provide online issuance of your Marine Policy, Personal Accident Policy, Home Insurance and Health Insurance.
Yes, you can renew your policy online. You have to give details of your old policy, after paying premium through credit card your policy can be renewed online.
You can pay your insurance premium through Cash, Cheque and Credit Card. For payment of buying policy online you have to pay through Credit Card.
After buying policy from our site, your soft copy of policy will reach within 4 working hours. Hard copy of policy will reach to you within 4 working days through courier.
We are General Insurance Brokers. Currently we have tied up with Tata AIG, Bajaj Allianz, Future Generali, Reliance, New India, Star Health, Apollo DKV for online policy issuance. We are also working with Oriental, National, United India, ICICI Lombard, Royal Sundaram, Iffco Tokyo, Cholamandalam.
If you find any discrepancy in your policy then you can write mail to us regarding discrepancies. You have to give exact corrections required on policies. We will make correction in your policy and revert to you.
If you misplace your policy which you bought from us, you have to write mail to us providing details of your policy. We will provide you duplicate policy copy as per your request.
We have tied up with HDFC Bank and Axis Bank as our Payment Gateway. When you want to make payment by Credit/Debit Card you would be forwarded to Payment Gateway. We are using MasterCard Secure Code and Verified by Visa as Additional Security of your online transaction. Transactions on our Web portal are protected with up to 256-bit Secure Sockets Layer encryption and certified by GoDaddy.
You can write mail to us regarding cancellation of your policy. You have to give reasons for cancellation and after providing necessary documents your policy can be cancelled.
If you want to cancel your policy, you have write mail to us regarding reason for cancellation. You have to forward necessary papers for cancellation. After providing all requirements you will get your refund. In case of motor short term premium will be calculated and rest will be refund.
In case of any query of clarification you can call to our toll free number which is available at our site. You can write mail to us regarding your queries. We will revert to you and give explanation to your queries.
In event of claim, you have to make call on Toll Free number which is printed on your policy for registration of loss. In case of Accident you have to make FIR with police authorities. You can go to our site and write mail to us regarding details of claim, we will forward your request to insurance companies and provide you Claim Number.
In case of claim you can write mail to us regarding your claim. You have to write Claim number, details of cause of claim etc. after receiving you mail we will take follow up in respect of your claim like status, quantum payable etc.
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