Liberty Car Insurance

Liberty India General Company is one of the renowned names in the comprehensive, commercial and industrial insurance since 2013. Apart from the Liberty car insurance, the insurer offers a range of other products such as marine insurance, personal accident insurance, commercial insurance, health insurance etc. The insurance provider has a network of 3100 service centers and 5000 hospitals in its panel.

Liberty Car Insurance Plan at a Glance:

Key Features Highlights
Incurred Claim Ratio 79.14
Network  Garages 2500+
Claim Settlement Within 7 working days
Type Of Insurance Both private and commercial

Why Liberty Car Insurance?

As they say, prevention is always better than cure and the same applies when driving a four-wheeler. Therefore it is prudent to buy an apt car insurance policy to avoid unforeseen liabilities/ expenses that might incur from an accident/collision. Liberty comprehensive car insurance policy offers a number of other benefits apart from the all-inclusive coverage to ensure you a peace of mind while driving your vehicle.

Benefits & Features of Liberty Car Insurance

You definitely need a car insurance policy to ensure your safety while driving on the roads. Here’s a list of the benefits that you can avail with this policy-

  • Quick and hassle-free claim settlement within 7 working days
  • Cashless claim service in network garages
  • Easy transfer of No-claim-bonus while switching the policy
  • Option to choose from various add-on benefits
  • Claim assistance is available on daily basis (8:00 AM to 8:00 PM)

No Claim Bonus in Liberty Car Insurance

You can earn No-claim-bonus if you do not make any claims during your policy term. The percentage of no-claim-discount as per the claim free years is mentioned in the table below-

Policy Term NCB on Own damage Premium(%)
Preceding year 20
For two consecutive years 25
For three consecutive years 35
For four consecutive years 45
For five consecutive years 50

Insured Declared Value/Sum Assured

Basically, it is the selling price of the four-wheeler as finalized by the manufacturer at the commencement of policy/ renewal. It is derived after adjusting the depreciation as per the age of the four-wheeler. It is applicable only when the vehicle is declared as a constructive total loss/total loss claims only.

Table with the schedule of depreciation for fixing IDV of the four-wheeler:

Age of the Four-Wheeler Depreciation(%)
Not exceeding Six months 5
More than six months but less than one year 15
More than one year but less than two years 20
More than two years but less than three years 30
More than three years but less than four years 40
More than four years  but less than five  years 50

If your car is more than 5 years old, its IDV can be mutually decided between you and the insurer.

Liberty Car Insurance Plans

Liberty Private Car Policy

There are two types of plan in this policy – third-party liability car insurance and comprehensive car insurance. A minimum of 3rd party insurance is required for all the car owners/drivers.

Whereas the comprehensive car insurance policy compensated for liabilities that may arise in the case of own-damages and third-party damages as well. Moreover, there are various add-on benefits and optional covers available in this policy.

Liberty Commercial Package Policy

Liberty commercial vehicle package policy ensures uninterrupted business functioning even when an emergency strikes. Liberty commercial vehicle insurance offers complete coverage to corporate fleets from any unexpected situations that may disrupt your routine functioning.

Liberty Private Car Insurance Inclusions

Liberty private car insurance policy provides a host of benefits, including:

  • Third-party liability insurance that offers protection against third -party death/ bodily injuries and 3rd party property damage.
  • Personal Accident insurance cover in case of disabilities, death, loss of sight or limbs
  • Compensation for expenses to recover the loss and repair of the damages caused to the vehicle

Liberty Third-party Liability Insurance

It is one of the basic forms of car insurance and it is compulsory to buy a third-party cover for all the vehicle owners in India. The policy covers liability towards a third party stemming from:

  • Accidental injury/death of a paid driver or third party
  • Damage to third-person’s property and the compensation limit is capped at INRRs. 7,50,000/-

Liberty Comprehensive Car Insurance Policy

You can file a claim for reimbursement of any damage/loss to the four-wheeler due to any of the below-mentioned reasons –

  • Natural calamities like landslide, inundation, earthquake etc.
  • Self-ignition
  • Burglary
  • Theft or housebreaking
  • External damage to the car from an accident
  • Lightning
  • Malicious acts
  • Fire/explosion
  • Strike and riots
  • Terrorist activities
  • During the transit

Furthermore, by paying an additional amount of premium, you can get additional benefits such as-

  • Personal Accident compensation for the co-riders
  • Coverage for non-electrical/electrical fittings
  • Legal liability cover for paid drivers

Liberty PrivateCar Insurance Add-on-Covers

Enhance coverage in your private car insurance and enjoy maximum protection with the following add-on covers-

  1. Depreciation Cover: Opt for this add-on cover if you want to enjoy the full sum assured without any deduction of depreciation on the vehicle parts.
  2. Consumable Cover: The policy reimburses the cost of consumables such as nuts and bolts, grease, washers, screws etc. which otherwise are not covered in a basic car insurance policy.
  3. GAP Value Cover: Basically, it eliminates the difference in the IDV and the showroom price of a car and offers coverage equal to the 100% cost of the four-wheeler.
  4. Roadside Assistance Cover: With this benefit, you can avail roadside assistance services like towing assistance, battery jumpstart, flat tyre change, emergency fuel support, on-site repairs and host of other services.
  5. Passenger Assist Cover: You can get financial coverage for accidental injuries. It includes hospital allowance, medical transport assistance and medical expenses for the driver and the passenger.

Liberty Private Car Insurance Exclusions

There are certain situations that are not covered by Liberty car insurance policy. For your understanding, some of the major exclusions are listed below-

  • If the driver is not holding a valid DL he is not eligible to make a claim
  • Consequential losses are not covered
  • Driving after drinking or any other form of intoxication
  • Contractual liabilities are also not covered
  • Wear & tear of the four-wheeler will not be included in the car insurance
  • Any loss/damage that is already covered under the warranty of the manufacturing company
  • Depreciation of the parts
  • Usage of car contrary to the scope of the limitation
  • Mechanical and Electrical breakdown; failure or breakage
  • Accident/loss resulting while driving the car outside the specified geographical area
  • Nuclear perils and war like conditions

Liberty Commercial Vehicle Package Policy

Liberty commercial vehicle policy is designed to offer comprehensive insurance cover to various types of corporate fleets. It covers any damage or loss caused as a result of an accident or collision. Protection is offered irrespective of the shape and size of the commercial vehicle. Basically, the idea is to ensure the smooth functioning of your business in spite of any such unfortunate incident.

Liberty Commercial Vehicle Package Policy Inclusions

The policy covers own damage to the insured commercial vehicle against:

  • External damage due to an accident
  • Third-party legal liability arising out of death/bodily injuries and property damage from your vehicle
  • Theft, burglary, and housebreaking
  • Earthquake, flood, rockslide& landslide
  • Strike, riots, malicious acts, and terrorism
  • Any damage during the transit
  • Moreover, it reimburses the towing expenses from Rs. 750 to Rs.2500 depending on the type of the vehicle.

Additional Covers in Liberty Commercial Vehicle Package Policy

  • Additional legal liability cover by paying an extra amount of premium
  • Coverage to non-fare paying passengers
  • Coverage to a paid driver or anyone hired to operate the vehicle
  • Coverage to the employees while travelling or driving the vehicle

Optional Covers in Liberty Commercial VehiclePackage Policy

Furthermore, you can buy these optional benefits to enhance your insurance cover –

  1. Depreciation Cover – It covers the amount of depreciation deducted on the parts replaced or damaged under the own damage claim section. It is only applicable if the vehicle is repaired at authorized workshops.
  2. Consumables Cover –It reimburses expenses incurred on repair and replacement of consumables after an accident. Consumable items include engine oil, grease, nut and bolt, air conditioner, oil filter, bearings, brake oil etc.
  3. Good Transfer Expense Cover – It is beneficial in situations when the insured commercial vehicle is not in a condition to transport goods. The expenses incurred in transferring the goods to another vehicle are reimbursed if you opt for this benefit.
  4. Roadside Assistance Cover – If the vehicle breaks down or is stuck in the middle of the road, immediate assistance is provided through an authorized vendor. The services provided are as follows-
  • Breakdown assistance over a call
  • Emergency fuel assistance
  • In case of the keys are stolen or the vehicle is locked, the driver will be provided with an alternate key
  • On-site repair assistance
  • Battery jumpstart (only for cabs, three-wheeler PCVs and light vehicles)
  • Replacement of the fan belt and brake setting
  • Transfer/Transportation in case of breakdown (accidental & mechanical)
  • Taking the heavy commercial vehicles out and load transfer co-ordination

For specific conditions please refer to the policy wordings.

How to Compare & Buy Car Insurance Online?

It is important to compare car insurance online. And to begin with, you must decide the type of policy that you want i.e. third-party liability insurance or a comprehensive car insurance policy.

Third party car insurance is mandatory as per motor vehicle act and is basic minimum car insurance in India. However, if you want complete protection cover, a comprehensive policy is the best car insurance policy for you. It also offers a host of other add-on benefits and optional benefits.

You can click on the link enclosed below to buy the Liberty car insurance policy online and follow the steps.

https://www.libertyinsurance.in/products/motor-insurance/car-insurance-quote

  • Just enter your car number and select the car you own and click proceed
  • Submit your personal details
  • Know your car insurance premium
  • Now pay the amount and your policy will be issued immediately

Liberty Car Insurance Renewal

The process to renew this policy is quite simple and hassle-free.

For Liberty car insurance renewal click on the below link –

https://www.libertyinsurance.in/products/motor-insurance/private-car-renewal

How to Renew Liberty Car Insurance Policy Online?

So, here is the process to renew Liberty Car Insurance online –

  • Enter your vehicle insurance number
  • Enter your car Chassis Number/ Registration or Engine Number
  • If it is a new car, Enter New
  • Then submit

Documents Required for Liberty Vehicle Insurance

On submission of the following documents, your claim will be processed –

  • Immediately inform about the incident at the nearest office
  • Driving license
  • Claim form ( duly filled)
  • RC
  • A copy of Police FIR
  • Copy of vehicle insurance certificate
  • Fitness certificate
  • Permit copy
  • Receipt of the tax paid

Liberty Car Insurance Claim Process

Liberty general motor insurance follows a hassle-free and convenient claim settlement process. The procedure is elucidated below to help to help you get going-

  • Either call them at their toll-free number 1800 266 5844 to file your claim or lodge a claim on their site.
  • Once the claim is registered, their representative will get in touch with you for more details.
  • A survey of the damaged insured vehicle will be conducted within 48 hours
  • As car/commercial vehicle is sent for repair at one of the network garages, all the documents will be required to be verified by the surveyor.

FAQs for Liberty Car Insurance

Q1. What isthird party liability cover? Is it covered in Liberty car insurance policy?

Third Party Liability insurance covers damage caused to anyone apart from the insured person. Liberty third party car insurance covers the following situations-

  • If a third-person suffers from permanent injuries due to an accident with your vehicle or the accident results in the death of a third-person.
  • Compensation up to INR 7.5 lakhs in case your vehicle damages the property of a third-person.
  • In case of death, there is no upper limit on the compensation amount.

Q2. How is car insurance premium determined?

The factors that determine car insurance premium are as follows-

  • Geographical zone
  • Vehicle’s Age
  • Engine’s cubic capacity
  • Insured declared value

Q3. What are compulsory deductibles in a car insurance policy?

It is the amount that the policyholder has to pay from his/her own pocket. Compulsory deductibles levied in Liberty car insurance are as follows –

Type of Vehicle Compulsory Deductibles ( inRs.)
For private vehicles up to 1500 cc 1000
For private vehicles exceeding 1500 cc 2000

Q4. Is there any discount for installing an anti-theft device in my car?

Liberty car insurance provides a discount of 2.5 percent (up to a maximum of Rs.500) on own damage premium. Provided the device is approved by an Automobile Research Association of India and is certified by the Automobile Association of India.

Q5. What is the difference between cashless claim settlement & reimbursement?

Cashless claim implies cashless repair service for damages at one of the network garages and the insurer directly settles the amount with the workshop. Whereas, reimbursement claim means that you can pay the repair amount and the present the bills to the insurer for reimbursement.

Please refer to policy terms and conditions for more details.

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