Tata Ace Insurance Price & Coverage

Description

Tata Ace Insurance Price & Coverage

Key features Of Tata ACE Insurance

Key Features	Benefits
Third Party Risk Coverage	TPPD cover up to 7.5 lac & Unlimited for liabilities.
Accidental Coverage	Driver and liability cover, Own Damage.
Theft Cover & Own Damage	Included in comprehensive policy.
Models Covered	Tata Ace Gold, Tata Ace Zip, Tata Ace Mega, Tata ACE HT.
Price	Rs. 16049+tax For Third Party Insurance

 

Types Of Tata ACE Insurance

There are two types of commercial vehicle coverage policy available.

1. Third Party Insurance 

This type of commercial vehicle insurance plan covers any third party liabilities stemming from damages caused by insured vehicle to other people or properties at the time of accident.

2. Comprehensive Or First Party Insurance 

Apart from covering all things as mentioned above in third party policy, comprehensive insurance will also cover the damages to own vehicle in case of any accident, theft or fire or damage to the vehicle by any external means.

COVERAGE	THIRD PARTY INSURANCE	FIRST PARTY INSURANCE
Coverage amount for third party property damage	Up to Rs. 7.5 Lac	Up to Rs. 7.5 Lac
Coverage amount for third party death/injuries in any accident	Unlimited	Unlimited
Protection Against Own Vehicle Damage	Nil	Up to Sum Insured
Vehicle Theft	Not Covered	Covered
Fire	Not Covered	Covered
Manmade calamities like riots	Not Covered	Covered
Natural calamities like floods, earthquakes, storms, lightening or thunder	Not Covered	Covered
Price	16049+GST For Third Party Insurance	16500+GST Onwards.

 Comparison Of Third party vs first party Tata ACE

 

What is covered in Tata ace insurance?

It Secures Your Vehicle At The Time Of Accidents

If your commercial vehicle is involved in an accident then any damage that occurs, will be covered for your vehicle if you have comprehensive insurance and any damage to other vehicle will be covered under third party insurance.

Reimbursement Benefits For Damages Due To Fire Hazards

Tata ACE commercial vehicle insurance provides you coverage against the loss due to fire in the vehicle, whether it be a total loss of the vehicle or partial loss of the vehicle due to fire.

Provides Claims If Your Vehicle Is Stolen

Tata ACE Car Insurance provides coverage against the loss of the vehicle in case of theft.

Protects Your Tata ACE From Losses Due To Natural Calamities

Any partial or total damage to automobile in case of any natural disaster such as lightning, flood, storm etc is always covered in this plan.

Cover Financial Liabilities Of Third Parties Involved.

1. Third party properties are covered up to 7.5 lac.
2. Liabilities of third party deaths/injuries in accident are covered in this policy.

 

What is not covered ?

We have compiled a list of exclusions that are not covered under Tata ACE Insurance to help you understand the limitations of this policy.

• Unethical Driving: If during making a claim, the driver-owner is found to be driving the bus under the influence of alcohol or without a valid driving license then your Tata Ace won’t be covered.
• Consequential Loss: In case of any loss/damage, which is a direct result of a certain action by the insured or the third party. For example, driving the vehicle in the land slide or the rain or in a flooded locality, leading to the damage of the engine or any other parts of Tata Ace.
• Own Damages for Third-Party Policy holder: If you’re only going for a Third-Party Commercial Insurance for your Tata Ace, then act of deliberate damage and losses won’t be covered.
• Routine Wear and Tear: Any damage or loss that your Tata Ace incurs because of a known cause such as damaged gear box or damaged engine because of leakage for a long time won’t be covered.
• Depreciation and breakdowns: Depreciation of the vehicle, mechanical and electrical breakdowns will not be covered.
• State of War: Any damage or loss incurring to your Tata Ace due to war, civil war, mutiny and so on won’t be covered.

Why You Need Tata Ace Insurance

• Mandatory under the Motor Vehicle Act in India to have at least a third-party commercial insurance policy to protect against damages and losses
• Failure to have insurance may result in a fine when caught
• Commercial vehicle insurance policy provides coverage against unforeseen circumstances that may damage your Tata Ace
• The insurance policy covers damages caused by a third-party or yourself
• Tata Ace insurance policies also provide protection for the driver-owner and any paid driver
• The insurance policy covers any bodily injury or death that may occur.

 

Popular Add-On Covers for Tata Ace Insurance

• Zero Depreciation Cover
• IMT 23 Cover
• Paid Driver Cover
• Owner Driver Cover
• Cover to Other Employees Such as Conductor or Coolie
• No Claim Bonus Protection Cover

 

Benefits Of Buying Tata ACE Insurance Policy Online

There are multiple of benefits when it comes to buying insurance online for any commercial vehicle in India. Here is the list of top 5 benefits you get on buying your tata ace insurance online –

1. Transparent Premiums Breakups
2. Comparison of Multiple Insurance Company Quotes
3. Clear Communication of Coverage Provided Before Buying Insurance
4. 24/7 Customer Helplines for Claim Support
5. Timely Renewal Reminders to Keep Your Vehicle Always Protected

How to Verify the Accuracy of Your Tata ACE Insurance Policy Details

• Visit or download the mParivahan app from the Google Play Store
• Enter your Tata Ace registration number
• Provide the last 5 digits of the engine and chassis number for verification
• Keep a copy of your RC handy while using the mParivahan app or any RTO app applicable for your region to check your commercial vehicle insurance for Tata Ace.

 

Tata ACE Insurance Claim Process

Claim process for commercial vehicles in India is pretty much effortless these days after introduction to self inspection survey apps launched by many insurance companies in India.

Follow these simple steps to file a claim in your tata ace policy.

 

For Self Help Claims By Video Apps.

1. Install Video Inspection App from play store or from your insurer’s official website.
2. Do a through video inspection of the damaged area of the vehicle.
3. Upload & Submit to claim processing team. Also keep a copy of video for your own references.
4. Insurance company will verify the damages within 24-48 Hours & Inform you about the approval or rejection of the same.

For Offline Claims –

1. Inform your insurance company on their official claim support number to intimate the claim for damages.
2. Insurance company will assign a claim surveyor who will make a visit to asset & verify the damages for which you have raised a claim.
3. After verification by surveyor, Insurance company will inform you about the total claim amount which will be reimbursed to you if you get the vehicle repaired from your side or it can be settled to a authorized cashless garage if you have registered your claim through them.

Documents Required During Tata Ace Insurance claim

To file an insurance claim for your Tata Ace commercial vehicle, make sure to keep the following documents handy:

• Policy Schedule
• Filled claim form
• Vehicle Registration certificate and Driving license
• Fitness certificate
• Load Challan
• Tax Slips
• Original Insurance copy. (Print of soft copy is also valid)
• Aadhar Card
• Route Permit
• First Information Report copy

 

 

Details Of Depreciation Amount Charged At The Time Of Claim

While making a claim in tata ace policy, Insured is required to pay some depreciation amount from their end. The amount of depreciation which insured will have to pay as per parts is mentioned below

1. For all rubber/nylon/plastic parts, tires, tubes, batteries and air bags – 50%
2. For fiber glass components – 30%
3. For all parts made of glass – Nil

Rate of depreciation for all other parts of tata ace including wooden parts will be as per the following table

Age of vehicle	percentage of depreciation
Not exceeding 6 months	0
Exceeding 6 months but not exceeding 1 year	5
Exceeding 1 year but not exceeding 2 years	10
Exceeding 2 years but not exceeding 3 years	15
Exceeding 3 years but not exceeding 4 years	25
Exceeding 4 years but not exceeding 5 years	35
Exceeding 5 years but not exceeding 10 years	45
Exceeding 10 years	50

 

List Of Companies offering tata ACE Insurance

Here is the list of companies with higher probability of providing better discounted premiums for your tata ace

1. Tata Aig
2. Reliance
3. Shriram General
4. ICICI Lombard
5. Bajaj Aliianz
6. Magma HDI

Frequently Asked Questions

1. What types of insurance are available for Tata Ace?

• Answer: Tata Ace insurance options include:
  • Third-Party Liability Insurance: Mandatory coverage for damages or injuries caused to third parties.
  • Comprehensive Insurance: Offers extensive coverage, including own damage, theft, fire, and natural calamities.
  • Own Damage Insurance: Covers damages to your Tata Ace due to accidents or other covered events.
  • Optional Add-Ons: Includes Zero Depreciation Cover, Roadside Assistance, and Engine Protection Cover.

2. Is Third-Party Liability Insurance mandatory for Tata Ace?

• Answer: Yes, Third-Party Liability Insurance is legally required for all vehicles, including Tata Ace. It covers damages or injuries caused to third parties in an accident.

3. What does Comprehensive Insurance for Tata Ace cover?

• Answer: Comprehensive Insurance includes:
  • Own Damage: Covers repairs or replacement of your Tata Ace due to accidents, theft, fire, natural disasters, and vandalism.
  • Third-Party Liability: Covers legal liabilities for injury or damage to third parties.
  • Additional Covers: May include Personal Accident Cover for driver and passengers.

4. How can I renew my Tata Ace insurance?

• Answer: To renew your Tata Ace insurance:
  • Online: Visit the insurer’s website, use their mobile app, or online portal to renew.
  • Offline: Contact your insurance agent or visit the insurer’s office to complete the renewal process.
  • Documents Needed: Typically, you’ll need your policy number, vehicle details, and payment for renewal.

5. What documents are required to file a claim for Tata Ace insurance?

• Answer: Required documents generally include:
  • FIR or Police Report (for accidents or theft)
  • Photographs of the Damage
  • Vehicle Registration Document
  • Driving License
  • Insurance Policy Document
  • Claim Form (completed and signed)

6. How can I check the status of my Tata Ace insurance claim?

• Answer: You can check the status of your claim by:
  • Contacting the Insurer: Call the customer service helpline or email the claims department.
  • Online: Use the insurer’s website or mobile app to track your claim status.
  • Agent: Reach out to your insurance agent for updates.

7. What should I do if I have an accident involving my Tata Ace?

• Answer: If you have an accident:
  • Report to Police: Obtain a FIR or police report.
  • Notify Insurer: Inform your insurance company as soon as possible.
  • Document the Incident: Take photos of the damage and gather witness statements if possible.
  • File a Claim: Complete and submit the claim form along with required documents.

8. Will my insurance premium increase after a claim?

• Answer: Yes, filing a claim can lead to an increase in your insurance premium upon renewal. Insurers may view claims as an indicator of higher risk.

9. Can I transfer my Tata Ace insurance to a new vehicle?

• Answer: Yes, you can transfer your policy to a new vehicle. You will need to inform your insurer, provide details of the new vehicle, and adjust the policy terms as needed.

10. What is Zero Depreciation Cover and how does it work?

• Answer: Zero Depreciation Cover ensures that you receive the full claim amount for vehicle parts without deductions for depreciation. This is beneficial for newer vehicles or those with high-value components.

11. Is roadside assistance included in Tata Ace insurance policies?

• Answer: Roadside Assistance is typically not included in standard policies and is usually available as an optional add-on. It provides services like towing, fuel delivery, and minor repairs.

12. What is Engine Protection Cover?

• Answer: Engine Protection Cover is an add-on that covers repairs or replacement of the engine due to specific issues such as water ingression or oil leakage, which are not covered under a standard policy.

13. Can I cancel my Tata Ace insurance policy?

• Answer: Yes, you can cancel your insurance policy. Contact your insurer to initiate the cancellation process. Depending on the terms, you may receive a refund for the unexpired period of coverage.

14. How often should I review my Tata Ace insurance policy?

• Answer: It is advisable to review your insurance policy annually or whenever there are significant changes to your vehicle or driving circumstances to ensure that your coverage remains adequate.

15. What should I do if I lose my insurance policy document?

• Answer: If you lose your policy document, contact your insurer to request a duplicate. You may need to provide identification and additional details to verify your request.