Car Insurance for Young and Old

Get Insurance for Parents and Provide Effective Assistance for their Old Age

Age of a person is not at all a criteria to decide whether a person needs car insurance or not. If you also think the same then you need to immediately change your thinking. Car insurance for young is as essentially required as car insurance for old drivers. Similarly, floater policy helps you to provide health insurance for all members of your family, whether young or old. In fact, the need for car insurance for young drivers is not less important from car insurance for old drivers because car insurance is a mandatory requirement by law.

Indian Car Tariff governs both motor insurance for both young and old drivers and hence, there is no significant difference in the policies offered by different insurance companies in general. Unlike traditional policies, now a day’s insurance companies offer a digitally signed policy both in case of car insurance for young and old drivers. This digitally signed policy document can then be printed for off-line reference. Some of the insurance companies may optionally send you hard copies of insurance policy document.

Generally speaking, motor insurance for both young and old drivers have a network of garages that allow cashless servicing across different locations in India. Besides this, the insured can opt for personal accident cover of a specified amount for co-passengers travelling along with the driver. Car insurance for young and car insurance for old drivers provides insurance of the vehicle at a fixed value of the vehicle called IDV. IDV is abbreviated for Insured’s Declared Value. To arrive at the IDV, the insurance company deducts the depreciation value from the list price of the vehicle. The depreciation value for the car is calculated based on the schedule maintained by the Indian Motor Tariff. It is important to note that in case any electrical or electronic items installed in the vehicle is not included in the list price of the car than for the purpose of calculation of IDV the value of such items can be added later. Similarly, for dual fuel system vehicles the insurance company may charge additional premium.

Just like all other features even the exclusion are also same in case of car insurance for both young as well as old drivers. Car insurance in general does not cover damages resulting from regular wear and tear and ageing of the vehicle. Similarly, if you are found to be driving the vehicle under the influence of liquor the protection is not available. In addition, car insurance in either case is not available in case you are driver without a valid license. You can easily get insurance online and even get answers to queries like – "What is the difference between comprehensive and third party insurance?"





Policies like motor insurance, floater policy, insurance for parents, etc. are all readily available online. You can find answers on the internet to questions like – "What is the difference between comprehensive and third party insurance?"