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Types of Bolero Insurance
Third Party Bolero Insurance – In case of any accident third party insurance provide coverage against the losses occurred to insured due to third party property damage or any injury or death to third party person. Third party insurance does not covers the damages to Bolero and one can not claim for the loss of the vehicle with third party policy.
Comprehensive Bolero Insurance – Apart from covering all things as mentioned above in third party insurance, comprehensive insurance for Bolero will also cover the damages to own vehicle in case of any accident, theft or fire or damage to the vehicle by any external means.
Since third party insurance cover is limited and does not cover your own vehicle it is always advisable to buy comprehensive insurance for Bolero.
MAHINDRA BOLERO PICKUP INSURANCE
The Mahindra Bolero is a raunchy powerful four-wheeler in the pickup segment from a renowned Indian multinational automaker. This automobile has had one of the most successful runs and is considered one of the most selling utility vehicles in India. When we look at the current state of this firm, we could see that Mahindra has set a goal for itself in the Indian automobile industry and proudly leads the contingent of functional automobiles with the Bolero, which is known to be one of their flagship vehicles. The Bolero was one of Mahindra’s trump cards, as it was designed for off-road use. This automobile additionally holds a wide range of safety features that consist of child lock, rear wiper and washes, engine immobilizer, bulkier bumpers and many more. Hence, you can consider this vehicle a premium one. If you possess this high-end vehicle, you should purchase a Mahindra Bolero Pickup Insurance Policy. A good pickup insurance plan may assist you in every way possible to protect your vehicle against any future emergency involving it, such as personal accidents, natural disasters, and even third-party liabilities. It is also mandatory to buy a Mahindra Bolero pickup insurance policy by law. You can easily renew or purchase Mahindra Bolero Pickup Insurance online via Policylegit.
FEATURES AND BENEFITS OF MAHINDRA BOLERO PICKUP INSURANCE
ADD ON COVERS FOR Bolero INSURANCE ONLINE
Mahindra Bolero Pickup insurance policy comes with a selection of lucrative features. Check some of the key features of this coverage:
- Network Garages- Insurance companies provide cashless garages. It enables you to get your bolero fixed on a cashless basis at one of the insurer’s network garages.
- Claim Assistance- In case of a crisis, the proprietor/driver of the bolero can contact the support team of the insurer anytime for claim assistance. They work in the direction of clearing all your queries and assist you to register the claim successfully.
- No Claim Bonus- No Claim Bonus or NCB is a benefit that is rewarded to the policyholder of bolero pickup insurance for not making any claims in the previous coverage tenure. It is provided as a discount percentage that can be collected and used to advantage reductions on the pickup insurance cost.
- Add-On Covers- Mahindra Bolero pickup insurance offers a variety of add-on covers that can be used to enhance the protection of your bolero. However, it comes with an extra price. Some of these add-on covers are zero depreciation cover, engine protector, depreciation waiver, etc.
Following are the add ons you can choose for your Bolero insurance online – 1. Zero Depreciation Cover – It means that in case your insured vehicle gets damaged in the accident, the insurance provider would compensate you with the entire cost.
2. IMT23 Coverage – This is used to cover excluded items like- bumper, headlights, fender, bonnet parts, tyre tubes, painting, etc.
To get the claim settlement without any depreciation at the time of claim it is advisable to opt for Zero Depreciation cover for your Bolero insurance which covers the depreciation done by insurers at the time of claim and can help you save a lot of amount payable to the dealer in case you raise any claims. Zero depreciation cover is available upto 5 years mostly but some insurers such as Tata AIG general insurance company and Iffco Tokio general insurance company also offer zero depreciation plans upto 7 years.
If you want to register an insurance claim for you Bolero you should immediately inform the insurer in case of any accident or damage that has occurred to the vehicle. You can inform the insurer by reaching out to them via a toll-free number which is usually mentioned on all policy copies or you can also reach them via email. The process to register a claim for a Bolero insurance is to fill the claim form which is available on all insurer websites. The following things are required to file a claim for Bolero insurance –
1. Information of Time & Date of the accident
2. Policy number for the reference
3. Description of the incident
4. Name & Contact number of the person who is filing the claim
5. Location where the incident occurred
REASONS TO BUY MAHINDRA BOLERO PICKUP INSURANCE ?
A Mahindra Bolero Pickup Insurance policy provides financial protection in the event of damage or loss to your vehicle. Aside from that, the Motor Vehicle Act of India requires you to carry third-party auto insurance if you wish to drive on Indian roads. In other words, if you want to enjoy your drive while remaining worry-free about any future vehicle-related emergencies, you must purchase Mahindra Bolero pickup insurance. By choosing this vehicle insurance policy, you will receive maximum benefits because these policies are customized and provide the highest level of transparency.
There can be several reasons Mahindra Bolero Pickup Insurance can be beneficial for a business or an individual, few of those reasons are:-
- Mandatory by Law- All people who own this automobile and drive it on public roads need to have legal insurance that consists of third-party liability insurance. Those who violate this rule and are discovered without a valid insurance policy will go through legal outcomes.
- Safeguard Against Emergencies- Unpredictable emergencies might inflict irreparable damage. Mahindra Bolero Pickup Insurance protects your vehicle from crisis and allows you to recover from any losses or damages with ease.
- Prevents Business Loss- These vehicles could be extremely useful in your business. Any unforeseen damage to the vehicle may result not only in the expense of getting it repaired but also in business losses. However, if your vehicle is insured, such business losses can easily be avoided.
Variants of Bolero covered in Insurance
We cover following model insurance for Bolero vehicle
MAHINDRA BOLERO 3200 CAB LOAD CARRIER BS-IV
MAHINDRA BOLERO 4WD
MAHINDRA BOLERO 4WH BS-III
MAHINDRA BOLERO BMT PLUS 1.2 BS-IV
MAHINDRA BOLERO PIKUP FB PS 1.29P
MAHINDRA BOLERO CAMPER
MAHINDRA BOLERO CAMPER GOLD
MAHINDRA BOLERO CAMPER GOLD LIFESTYLE
MAHINDRA BOLERO CAMPER LONG 2WD
MAHINDRA BOLERO CAMPER XL
MAHINDRA BOLERO CAMPER ZX
MAHINDRA BOLERO CBC
MAHINDRA BOLERO CITY PIKUP
MAHINDRA BOLERO DX INSURANCE
MAHINDRA BOLERO MAXI TRUCK
MAHINDRA BOLERO MAXI TRUCK PLUS BS-IV
Factors which determine Bolero Insurance Price
THIRD PARTY Bolero INSURANCE AMOUNT DETAILS
1. GROSS WEIGHT OF VEHICLE – Third party price for Bolero insurance is fixed as IRDA decides Goods Carrying Vehicles third party insurance price on the basis of their GWV which means Gross Weight of Vehicle. For all vehicles upto 7.5 ton the price is 15990 plus GST for private goods carrier and 15990 plus GST for public goods carrier. All Bolero variants has gross weight under 7.5 ton so the price is fixed as mentioned above in 2021.
Comprehensive insurance is inclusion of own damage coverage with third party coverage in a policy. So apart from GWV which is crucial to determine Bolero insurance price following are the factors which determine how much price one needs to pay to buy comprehensive Bolero insurance or first party Bolero insurance.
1. IDV VALUE – IDV refers to Insured Declared Value and is the maximum sum assured fixed by the insurer that is offered in case of theft or total loss of a vehicle. In short, IDV is the current market value of your vehicle.
2. NO CLAIM BONUS DISCOUNT – No Claim Bonus or NCB is a reward given by an insurance company to an insured for not raising any claim requests during a policy year. The NCB discount is offered on the premium amount during renewal.
3. OWN DAMAGE DISCOUNT FROM INSURER – It reimburses your expenditure in case your car is damaged due to any natural events such as earthquakes, fires, storms, etc. or due to an accident. The deal is – higher the Insurance Declared Value or IDV, higher the premium.
Comprehensive Bolero Insurance Amount Details
WHAT IS THE MAHINDRA BOLERO PICKUP INSURANCE 1 YEAR PRICE?
One-year insurance coverage for a Mahindra Bolero transporting private goods is ₹15990 + GST. A third-party coverage costs ₹15990 + GST if you intend to use your Mahindra Bolero for public goods transportation.
WHICH MAHINDRA BOLERO PICKUP INSURANCE IS THE BEST?
Comprehensive insurance is the ideal one for Mahindra Bolero since it covers third-party damages, injuries, fatalities, and partial or whole losses to your Mahindra Bolero in the case of an accident, fire, burglary, or damage caused by any other external causes.
DO I NEED TO BUY INSURANCE A MAHINDRA BOLERO PICKUP?
Yes. Before driving a Mahindra Bolero on the streets, you must have a valid insurance policy. If you are found driving without valid insurance, you may face casualties.
CAN I AVAIL MYSELF OF THE EXISTING NCB IN MAHINDRA BOLERO PICKUP INSURANCE INSURANCE? IF I HAVE RECENTLY TRANSFERRED THE OWNERSHIP TO MY NAME?
No, NCB discount can’t be availed in this case as it is only given in case of no ownership transferred and completer claim-free year.
WHAT WILL HAPPEN TO MY NO CLAIM BONUS IF MY POLICY HAS EXPIRED?
In case your Bolero insurance policy has expired, you can still claim your no claim bonus, by renewing the policy within 90 days of your last policy expiry.
CAN I TRANSFER MY NO CLAIM BONUS TO A NEW VEHICLE?
Yes. You can transfer your no claim bonus to a new vehicle as this bonus is granted to the owner-driver of the vehicle and not the vehicle itself.
BOLERO PICKUP INSURANCE 1 YEAR AMOUNT DETAILS
Third party Mahindra Bolero insurance amount is ₹15990 plus GST for private carrier commercial vehicle while for public carrier third party Mahindra Bolero insurance the amount is ₹15990 plus GST as per IRDA’s list for Goods carrying vehicle insurance amount for vehicles in range of 0 to 7.5 ton.
First party or full Mahindra Bolero pickup insurance amount depends upon the IDV of the vehicle and few other details like NCB and Detariff discount insurer is offering.
TOP INSURANCE COMPANIES FOR MAHINDRA BOLERO PICKUP?
Bolero pickup are a vital part of the Indian Education System and as important they are it is important to provide them with adequate protection. We analyzed over a dozen companies to determine the top Bolero Pickup Insurance Companies based on factors including coverage selections, unique features, and coverage. These are our recommended insurance companies, whether you own a individual bus or a whole fleet of them:-
- RELIANCE GENERAL INSURANCE– Reliance is one of the leading general insurance companies in India. They have huge customer base that includes individuals like you, corporates and SMEs. With 139 offices and more than 28,900+ intermediaries across India, you can easily reach out and enjoy their services at your own convenience. It is also Economic Time’s Best Brands for the Year 2020.
- ICICI LOMBARD GENERAL INSURANCE– ICICI Lombard GIC Ltd. is one of the leading private sector general insurance companies in India with a Gross Written Premium (GWP) of ₹135.92 billion for the year ended March 31, 2020. The company issued over 26.2 million policies and settled over 1.86 million claims as of March 31, 2020.
- TATA AIG GENERAL INSURANCE– Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). It has an Asset Under Management (AUM) of approx. ₹14,295 Cr (as of September 30, 2020) and a workforce of about 6220 employees present in 200 branches across India.
- SHRIRAM GENERAL INSURANCE- Shriram General Insurance was started as a joint venture between Shriram Capital Ltd. and Sanlam Limited (South Africa), established in 1918 and the Group demutualized in 1998. As of September 2012, the stake of Sanlam Limited (South Africa) has been transferred to Shriram Capital Ltd. The Group’s vision is serving the underserved and creating value at the bottom of the Pyramid. SGI has also been awarded the “Excellence In Growth Award” for 2 consecutive years (2011 & 2012)
- CHOLAMANDALAM GENERAL INSURANCE- Chola MS General Insurance Company Limited is a Joint Venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. In FY 2020-21, the company achieved a Gross Written Premium (GWP) of ₹43,882 million. Chola MS currently has 132 branches and over 50,000 intermediaries across the country. Chola MS has also been recognized as The Economic Times Best Brands 2020.
- ROYAL SUNDARAM GENERAL INSURANCE- Royal Sundaram General Insurance Co. Limited, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. It has over 2000 employees with 158 branches across India and its products are distributed through various channels, agents, distribution partners, affinity partners, brokers and online. It is also the first insurer to introduce in-house Motor Assessors (IMAs).
- IFFCO TOKIO GENERAL INSURANCE- IFFCO -Tokio has extensive operations in rural areas and second, third and fourth-tier cities. It is the first private insurance company to establish Bima Kendras (single operation centers), increasing the insurance penetration rate in rural areas to customer’s doorsteps.
- HDFC ERGO GENERAL INSURANCE– HDFC ERGO has been presented an award by ICAI for Excellence in Financial Reporting 2015- 16 under Category IV. It is the 2nd consecutive year, the 4th time of their journey, that they have been awarded for excellence in financial reporting. It is the only award presented in the non-life category this year.
- GODIGIT GENERAL INSURANCE– Go Digit General Insurance Limited was founded in 2016 and is headquartered in Bengaluru, India. Fairfax, a financial holding firm located in Toronto, Canada, has funded Go Digit. Go Digit talks about delivering simplified general insurance solutions to all of its clients and they are on a quest to make the entire insurance experience, from purchasing to filing claims, simpler and easier.
- SBI GENERAL INSURANCE– SBI General Insurance has operations in more than 23,000 National Bank Group branches and more than 5,500 Regional Rural Banks (RRB). The company’s current geographic coverage covers more than 110 cities in India and operates in more than 350 locations through satellite resources.