Everything You Need to Know About Bundled Plans for Brand New Cars

A bundled plan for brand new cars provides complete benefits with both third-party liability and own damage cover. Under this plan, the third-party cover is available for 3 years, whereas the own-damage component is generally available for 1 year.

This makes it cheaper upfront than buying a full multi-year comprehensive policy. However, you need to renew the own-damage cover separately each year to maintain continuous protection for your car.

In this article, you will learn about how bundled car insurance works, its benefits, inclusions and more.

How Does the Bundled Plan for Brand New Cars Work in India?

In India, a bundled plan for brand-new cars applies to two-wheeler or new car purchases. According to the norms established by IRDAI, it involves a 1-year own damage cover and a 3-year third-party cover (for cars). This ensures legal compliance for a longer period and allows annual renewal only for the own-damage portion.

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Benefits of Availing a Bundled Plan for Brand New Cars in India

If you are wondering what are the benefits of a bundled 4-wheeler motor policy in India, go through the following list:

1. Long-Term Coverage: No need to renew third-party coverage annually
2. Regulatory Compliance: Especially necessary for new vehicle buyers
3. Affordability: Dual coverage with affordable premium rates
4. Combo Plan: Combines third-party liability coverage and vehicle damage cover
5. Cost-Efficiency: Bundled car insurance deals may offer better pricing
6. Simplified Management: Eases claim processes and document tracking

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What are the Key Inclusions in a Bundled Car Insurance Policy?

In the following cases, a bundled plan for new cars will cover the loss:

1. Compensation for physical injuries to a third party
2. Financial payout if a third party dies in an accident
3. Repair costs for damage caused to third-party vehicles or property
4. Optional personal accident cover for the owner-driver, resulting from death or bodily injury
5. Accidental theft, natural calamities, damage, or malicious activities associated with the insured vehicle

What are the Exclusions in a Bundled Car Insurance Policy?

A bundled plan for brand new cars does not cover every type of loss or damage. Certain situations and circumstances are excluded from the policy, including the following:

1. Accidental damage or loss caused outside of the geographical region
2. Basic wear and tear
3. Any damage resulting from the influence of drugs or alcohol
4. Commercial usage under a private policy
5. Any damage or loss sustained indirectly or directly due to nuclear materials or weapons
6. Damage resulting from driving under the influence
7. Mechanical or electrical breakdowns
8. Any damage caused while the insured car was used by anyone other than a driver as stated
9. Claims that go beyond the coverage limits or policy period

Bundled Plans vs. Standalone Plans in Car Insurance

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संक्षेप में

A bundled plan for brand new cars combines two types of coverage under a single policy. Thus, it is easy to manage and available at an affordable cost. It is particularly suited to new car buyers who want essential coverage from the outset.

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सामान्य प्रश्न

What must be the age of my vehicle to buy a bundled insurance policy?

You can purchase a bundled insurance policy for a vehicle that is up to 5 years old. If your vehicle is more than 5 years old, the IDV will be determined based on mutual understanding between you and the insurer.

Does the bundled policy include the cost of transporting a damaged vehicle to the nearest garage?

Yes, a bundled policy may cover the cost of transporting a disabled or damaged vehicle to the nearest garage. Once the vehicle is repaired, the insurer may also cover the cost of re-delivering it to the insured.

Will I get any reimbursement if my vehicle has damaged tubes or tyres under a bundled policy?

No, a bundled motor policy generally does not cover damage to tubes or tyres unless the vehicle’s body is also damaged in the same incident. Damage caused by depreciation or normal wear and tear is also not covered under the policy.

*मानक नियम व शर्तें लागू

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