Used Car Insurance

Yes. In India, every car—whether new or used—must have a valid car insurance policy as per the Motor Vehicles Act, 1988. At the very least, third-party liability insurance is required, which covers damages or injuries caused to other people or their property. Driving without valid insurance can result in hefty fines, legal issues, and even confiscation of your vehicle. To ensure complete financial protection, it is strongly recommended to opt for a comprehensive policy for your used car.

Yes. When you buy a used car, the seller’s existing insurance policy can be transferred to your name. The process involves submitting Form 29 and 30, the Registration Certificate (RC), and a copy of the policy to the insurer. You’ll also need proof of identity and address. The insurer may require a nominal fee and an inspection before updating records. This ensures continuous protection and allows you to raise claims without later facing ownership issues.

Third-party insurance is legally mandatory and more affordable, but it only covers damages caused to others. A comprehensive insurance policy, on the other hand, protects both third-party liabilities and your own car from risks like accidents, theft, fire, and natural disasters. For older cars with low market value, third-party cover might be sufficient. However, if your used car is relatively new or still valuable, comprehensive insurance is the smarter option as it provides wider protection.

The premium for used car insurance is determined by multiple factors. The Insured Declared Value (IDV), which reflects the car’s depreciated market value, plays a major role. Other factors include the car’s age, make, model, location of registration, and type of policy chosen. Add-ons like engine protection or roadside assistance also affect premium costs. Additionally, if the car has a clean claim history, you may benefit from lower premiums or No Claim Bonus (NCB) transfers.

Driving without insurance is both illegal and risky. If caught by traffic authorities, you may face fines and penalties. More importantly, you’ll be financially liable for any damages or injuries caused to third parties in an accident. In case of theft or natural disasters, you’ll bear the entire loss yourself. Not having insurance also affects your ability to sell the car later, as buyers typically prefer vehicles with active insurance policies.

Yes, but with a condition. The No Claim Bonus belongs to the policyholder, not the car. If the previous owner accumulated NCB, it does not transfer to you automatically when buying their car. However, if you had a car earlier and sold it, your NCB can be carried forward to your new (used) car policy, provided you transfer it through a certificate. This allows you to enjoy premium discounts ranging from 20% to 50% based on your claim-free history.

Yes. In most cases, insurers will require an inspection before issuing or transferring insurance for a second-hand vehicle. The inspection involves checking the car’s condition, mileage, age, and existing damage. This helps the insurer calculate the accurate premium and Insured Declared Value (IDV). If you are renewing a lapsed policy for a used car, inspection becomes mandatory. Zurich Kotak ensures that this process is quick and hassle-free, allowing you to activate your policy without delay.

Absolutely. Just like with new cars, you can purchase add-ons for your used car insurance policy. Popular choices include Roadside Assistance, Passenger Cover, Zero Depreciation (for relatively newer models), and Engine Protection (for cars in areas prone to flooding). While add-ons slightly increase the premium, they greatly enhance coverage and reduce out-of-pocket expenses during claims. Selecting car insurance add-ons wisely ensures that even your old car enjoys modern-day protection and convenience.

Yes. With Zurich Kotak, you can easily buy or renew a used car insurance policy online in just a few minutes. Simply visit the official website, enter your vehicle details, choose your preferred plan, and add any required add-ons. Pay securely through digital payment options and receive your policy instantly via email and mobile. Online purchases save time, allow you to compare options, and often come with exclusive discounts that make the policy more affordable.

Zurich Kotak is a trusted name in insurance, offering customer-friendly processes and reliable coverage. With a strong network of cashless garages, quick claim settlement, and digital-first policy management, ensuring your used car becomes a stress-free and straightforward process. The company provides transparent pricing, affordable premiums, and customisable add-ons to suit every car owner’s needs. By choosing Zurich Kotak, you secure not only your vehicle but also peace of mind, knowing you have dependable protection at all times.