Maruti Insurance Review| North Loop Official Blog
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16 Sep 2020

Maruti Insurance Review

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Maruti Insurance Brokers Pvt. Limited: Background and Overview-

Maruti Suzuki don’t offer their own comprehensive range of insurance policies but are partnered with multiple insurance companies that offer some of the best-in-class as well as value-for-money motor insurance policies.
Maruti Insurance Brokers Pvt. Limited was established in 2002, serving more than 6 million customers since inception and having branches across 450+ cities in India.
The company offers comprehensive two-wheeler and four-wheeler insurance policies through it’s partnered network of insurance companies. Given below is the elaborate list of insurance policies offered-

Maruti Insurance Brokers Pvt. Limited: Plans and Policies-

Before dwelling into the various insurance policies and schemes offered by Maruti, let us first understand what insurance is.
Insurance is an agreement between an individual known as the insured individual and an insurance company known as the insurer. The agreement is signed over a formal contract between the insured and the insurer. The insured individual is required to pay a premium on a regular basis to the insurer in exchange for compensation when a financial loss arises.
Motor Insurance policy is a type of policy for vehicles, which provides first party as well as third party coverage against contingent losses that may arise due to damage or theft of the vehicles.

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Maruti Insurance Brokers Pvt. Limited: Policies and Schemes-

The various policies offered by Maruti Insurance company are-

Four Wheeler Insurance Policies-

  • Bajaj Allianz General Insurance Company Limited- Offers basic motor insurance scheme. Add-on covers include Depreciation Shield, Engine Protector, Vehicle Replacement Advantage, Key and Locks replacement cover, etc.

  • Bharti Axa General Insurance Company Ltd- Offers basic motor insurance plan. Add-on covers include Depreciation cover, Engine and gearbox protection cover, Invoice price cover, Consumables cover, Key replacement cover, etc.

  • Go Digit General Insurance Limited - Offers basic motor insurance plan. Add-on covers include Private car parts depreciation protection, private car engine and gearbox protection, Car consumable cover, private car key loss cover, etc.

  • HDFC ERGO General Insurance- Offers basic motor insurance plan. Add-on covers include Zero Depreciation, Cost of consumable item cover, engine and gearbox protector, etc.

  • ICICI Lombard GIC Ltd- Offers basic motor insurance plan. Add-on covers include Zero Depreciation, Engine Protect plus, Return to Invoice, Consumable items cover, key protect, etc.

  • IFFCO-Tokio General Insurance- Offers basic motor insurance plan. Add-on covers include Depreciation waiver, Engine and gearbox protection cover, new vehicle replacement cover, loss of key cover, etc.

  • Liberty General Insurance Limited- Offers basic motor insurance plan. Add-on covers include Depreciation cover, Engine Safe cover, Gap Value cover, Consumables cover, and key loss cover.

  • New India Assurance Co Ltd- Offers basic motor insurance plan. Add-on covers include Nil Depreciation, Engine Protect, Return to invoice, consumables item cover, and key protect cover.

  • National Insurance Company Ltd- Offers basic motor insurance plan. Add-on covers include Nil Depreciation plus, Engine protect, Invoice Protect, etc.

  • Oriental Insurance Company Ltd- Offers basic motor insurance plan. Add-on covers include Zero Depreciation, Engine protect cover, return to invoice, consumables cover, key replacement cover, etc.
  • Reliance General Insurance Company Limited- Offers basic motor insurance plan. Add-on covers include Nil Depreciation cover, engine cover, total cover, consumables cover, key protection cover, etc.

  • Royal Sundaram General Insurance Co. Limited- Offers basic motor insurance plan. Add-on covers include Depreciation Waiver clause, aggravation damage clause, Full Invoice, Price Insurance Clause, key replacement cover, etc.

  • SBI General Insurance- Offers basic motor insurance plan. Add-on covers include Depreciation reimbursement, engine guard, return to invoice, cover for consumables, cover for key replacements, etc.

  • Tata AIG General Insurance Company Limited- Offers basic motor insurance plan. Add-on covers include Depreciation Reimbursement, Engine Secure, Return to Invoice, Consumable Expenses, etc.

  • United India Insurance Company Limited- Offers basic motor insurance plan. Add-on covers include Endorsement for nil depreciation, engine and gearbox protection, return to invoice endorsement, etc.

  • Universal Sompo General Insurance- Offers basic motor insurance plan. Add-on covers include Depreciation Waiver, Engine Protector, Return To Invoice, Cost of Consumables, Key Replacement, etc.


Two Wheeler Insurance policy- Maruti Insurance Broking

What can be understood from the above plans and schemes offered is that policies diversified into a wide spectrum of demographics. Although their insurance policies cater to a wide range of people, it could be fairly complex for an individual to go through the various schemes and decide what fits best. This could be all-the-more harder for NRIs which is where North Loop stands out.

North Loop offers health and life insurance schemes with a low premium and high cover option. The process to sign up is completely online and the account gets set up within a couple of minutes. Click here to sign up with North Loop now!

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.