There are three main features of an auto insurance policy:

1.Premium: Premium of the policy depends on several features like cubic capacity, city of registration, model and manufacturer of the car and many more. Premium increases with the price of the car. Since the tariffs on premium are regulated by IRDA, therefore all insurance companies provide policies having more or less the same premium.

2.Claims: In case of auto insurance, claims can be accidental, theft claims and third party claims.

3.Documentation: Auto insurance in India needs some specific documents like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.

Types of covers included

Amongst the natural and man made covers provided are cover against risk of fire explosion self ignition or lightening, burglary housebreaking or theft, riot and strike, earthquake, flood, typhoon, hurricane, storm and, tempest, inundation, cyclone, hailstorm and frost. Liability to third party is also offered as cover.

Additional payment entitles the insured to protect other accessories of the vehicle like bi-fuel kit, electronic/electrical accessories etc.