All insurers deduct for depreciation on your car's parts and therefore you receive your claim only after deducting the amount of depreciation. The insurance company would deduct some amount on all parts except on glass item. Depreciation is charged as follows:
While your vehicle is being repaired in the workshop, you need to expend cost for daily travels. With the 'Daily Rental/Transportation Cost' coverage, we will give you cost for daily travels. Daily travel cost will be given for maximum of 14 days in case of partial loss and 30 days in case of total loss.
When your vehicle is stolen or get damaged beyond repair, the claim amount paid will be the insured value of your vehicle minus the salvage. The Insured value of your vehicle also accounts for the depreciation. Therefore, you need to bear the difference cost to buy similar new vehicle. With the 'New Vehicle Replacement' coverage, the difference cost of Sum Insured and showroom price of new vehicle will be reimbursed to you.
Yes, Auto-plus is different from motor insurance. It adds extra coverages to your existing comprehensive motor insurance.
Anyone who has a comprehensive motor insurance in Shikhar Insurance and has a vehicle younger than 10 years can buy Autoplus insurance.
When your vehicle is being replaced or repaired, you will be paid rental/transportation cost for a maximum of 30 days in case of Total Loss Claim and for a maximum of 14 days in case of Partial Loss Claim. Daily rental / transportation cost for 4 wheelers and 2 wheelers will be difference. Further, this cost varies as per the Sum Insured of the vehicle.
| 4 Wheelers | |
|---|---|
| Sum Insured | Daily Transportation Expenses |
| Up to 20 Lakhs | 1,500 |
| Up to 30 Lakhs | 2,000 |
| Up to 40 Lakhs | 2,500 |
| Up to 50 Lakhs | 3,000 |
| Up to 75 Lakhs | 4,000 |
| Above to 75 Lakhs | 4,500 |
| 2 Wheelers | |
|---|---|
| Sum Insured | Daily Transportation Expenses |
| Up to 2 Lakhs | 500 |
| Up to 3 Lakhs | 750 |
| Up to 4 Lakhs | 1,000 |
| Up to 5 Lakhs | 1,250 |
| Up to 10 Lakhs | 1,500 |
| Above to 10 Lakhs | 2,000 |
In a normal insurance cover, the maximum amount of claim you can make is restricted to its Insured Declared Value or Sum Insured. This value is less than the market value as the basis of Sum Insured is value of similar new vehicle at showroom less depreciation. With this cover, you receive the difference price of Sum Insured and showroom.
No, you will still have to bear the cost of deductible excess.
You can purchase Auto-plus insurance from any Branch of Shikhar Insurance.
Yes, you can choose any coverages that you want. For example, if you want, you can opt for the depreciation waiver coverage only or if you want depreciation waiver and daily rental coverage, then you can do so. You will have to pay the premium of for each coverages you want as per your requirements.
No, Autoplus is a unique product of Shikhar Insurance.
The Policy period of the Autoplus insurance will be the same as your comprehensive motor vehicle insurance.
The same documents as your comprehensive vehicle insurance. That is, your blue-book and your citizenship.
A comprehensive policy is no doubt a great way to go about in protecting your vehicle from all possible damages. However, during claim- you will still be required to pay for your car’s part depreciation and other expenses such as transportation. Autoplus insurance is a better option as it won’t only give your vehicle maximum coverage but will also save you from paying for your vehicle’s depreciation cost during claims and receive reimbursement for your transportation cost while your vehicle is being repaired.
Exclusions:
"Good customer service is something I always believe in. Shikhar Insurance has managed to give me not just good but the best customer service. My every query has been explained and problems have been solved with Shikhar Insurance"
"Shikhar Insurance truly defines its tagline of happysurance! My insurance experience with Shikhar has been very smooth and hassle free. I am willing to learn more about Autoplus Insurance too."