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Nano Car Insurance

The Tata Nano is a compact city car that was launched by Tata Motors in 2018. It was intended to be an inexpensive car, priced competitively so that everyone could afford it. It was a rear-engine hatchback car with four doors. Due to various issues, sales did not take off as expected and the company made losses. Production was stopped in 2018 and the car has been officially discontinued.

Key Features of Nano

The Tata Nano has been an iconic small car highly suitable for city driving. The car is available in five variants with a 624 cc petrol engine having a 5-speed manual/automatic transmission. The spacious cabin and ease of parking are its main attractions.

The Nano has a fuel tank capacity of 15 litres and offers a city fuel efficiency of up to 28 km/l. It has a boot space of 300 litres. It can seat 4 passengers. The car has tubeless radial tyres.

The key features of the Nano include:

  • Rear spoilers
  • Wheel covers
  • Power door locks
  • Seat belt warning
  • Front and side-impact beams
  • Automatic headlamps
  • Digital odometer
  • Low fuel warning light

Premium for Nano Car Insurance

The Tata Nano car's premium depends on the year of registration of the car, the place of registration, the variant chosen, among others. The premium rates of select variants of the Nano are presented in the following table for reference:

Car Variant

Price of the Car

IDV*

Zero Depreciation

(Add On)*

Estimated Premium*

Tata Nano CX 624 cc petrol

Rs.2,10,559

Rs.1,32,653

Rs.1,355

Rs.3,732

Tata Nano Twist XT 624 cc petrol

Rs.2,51,186

Rs.1,58,112

Rs.1,538

Rs.4,031

Tata Nano LX 624 cc petrol

Rs.2,37,772

Rs.1,49,797

Rs.1,478

Rs.3,933

*The prices are calculated for a 2018 Nano car registered in Chennai.

What Are The Inclusions of Nano Car Insurance?

  • Any damages caused to the car due to an accident can be claimed under the policy.
  • Injuries to the driver can be claimed under personal insurance cover.
  • Third-party liability is taken care of in the policy. Damages to a third person's property or injuries to a third person are taken care of by the insurer.
  • In case of the theft of the car, losses can be claimed under the policy.
  • Damage from all man-made hazards like terrorism, arson, vandalism, and riots are included in the policy.
  • If your car is damaged due to natural calamities like floods, earthquakes, and landslides, you can claim the damages.

What Are The Exclusions of Nano Car Insurance?

  • Damages to the car as a result of an accident caused when the driver was under the influence of drugs or alcohol are excluded.
  • If the driver did not have a valid driving license or was using the car for an illegal purpose, then claims will not be accepted.
  • Accidents that are caused intentionally or deliberately are excluded.
  • Costs of consumables like coolants, oils, nuts, bolts, etc. are excluded.
  • Any damages caused due to war, enemy hostilities, or nuclear attack are excluded.
  • Driving on the wrong side or driving by an underage driver would invalidate a claim.
  • Damages to the engine or engine parts are not included.
  • Consequential damages caused because of an action by the driver are not included.
  • Driving for commercial purposes or for racing is excluded.

Add-ons Benefits

The exclusions in the car policy can be addressed by buying an add-on cover. They are useful to provide enhanced coverage for your Nano. Some of the add-ons you can consider buying are:

  • 24x7 road assistance: is an add-on that ensures you get assistance on the road in case your car breaks down- if you need towing, or if you need a battery jump start or tyre replacement.
  • Engine protector allows: you to claim for damages that are caused due to engine malfunctions or damage to the parts of the engine.
  • Invoice cover allows you to get compensated for the invoice price of the car instead of the idv (insured declared value).
  • Consumables cover: is an add-on that allows you to claim for the cost of consumables used during repair (eg: engine oil or coolant).
  • Paid driver cover: is a useful add-on if a paid driver is driving your car. In the case of disablement or death of the driver, financial assistance will be provided to his/her family.

Renewal Process For Nano Car Insurance

Renewing your Nano car insurance on time is very important, so the benefits of insurance continue without a break. You can renew the insurance easily when you do it through PolicyX.com. The following explains how you can do it:

  1. Scroll to the top of the page and look for the 'Get Instant quotes' option.
  2. To get the quote, enter your car number and click on 'Get Quotes'. You can also select the option to proceed without car number, choose renewal and click on 'Continue'.
  3. You will get quotes from different insurers based on the data provided. You can go proceed with your current provider or choose another one as per your convenience.
  4. Select the insurer by choosing the plan and you will be taken to the website of the insurance company.
  5. You can pay the premium on the insurance company's website. You will then get an email with a confirmation of payment, followed by another email with a copy of the policy.

Frequently Asked Questions (FAQs)

1. My Nano car was stolen, what do I do now?

Don't worry, your car insurance policy covers the scenario of theft of the car. All you need to do is visit the jurisdictional police station and file a complaint regarding the car theft. Collect a copy of the FIR from the police station. You can then submit an insurance claim and enclose the FIR with it. Once the claim is processed, you will be reimbursed for the loss you incurred.

2. My insurance policy mentions a no-claim bonus. What is this bonus and how can I benefit from it?

If you do not make a claim on your insurance policy, then the insurer rewards you for this by giving you a bonus known as NCB (no claim bonus). This bonus allows you to get a discount on the premium you pay for the policy. The NCB value would increase for each claim-free year, subject to a maximum of 50%.

3. My Nano met with an accident and has been sent to the workshop for repair. I understand it will take a week, can I get paid for my travel expenses during this period?

No, the claim for such expenses is not covered under the policy. However, if you had purchased the paid allowance add-on cover, then you would be paid a fixed amount as a daily allowance and you could use it to hire a taxi.

4. If you buy third party insurance, the premium cost works out to be much lesser. Why shouldn't I opt for it?

You can buy third party insurance, as required by the law. You must note that it only covers damages to third party property and injuries to a third party. Damages to your car because of accidents, natural calamities, manmade hazards, etc. are not covered. Even theft is not covered, hence it is always advisable to buy a comprehensive policy that offers complete coverage.

Last updated on 22-05-2020